Category: Economy

MIL-OSI Europe: Record employment levels in companies supported by EI, IDA and Údarás na Gaeltachta reflect strength and resilience
Source: Government of Ireland – Department of Jobs Enterprise and Innovation

18th February 2025

Over 546,763 jobs in client companies of Government agencies in 2024, an increase of 7,030 jobs on 2023

The Minister for Enterprise, Tourism and Employment Peter Burke has today (18.02.2025) published two surveys on the Irish economy, which reflect the continued strength and resilience of industry in Ireland in the face of the challenges posed by global economic and political headwinds.

The Annual Employment Survey 2024 finds that jobs in client companies of Enterprise Ireland, the IDA and Údarás na Gaeltachta, are now at their highest ever level, at over 546,763 jobs, which is a 1.3% increase on 2023 figures.

The Annual Business Survey of Economic Impact 2023 shows strong growth in sales, exports, value added and direct expenditures in the Irish economy for both Irish and foreign-owned companies in 2023.

The Minister said:

“These results demonstrate the strength and resilience of our jobs market and industry in Ireland, in spite of the challenges posed by global economic and political headwinds.

“In 2024, employment growth in Irish owned firms was strong across the board, including in the Construction, Business Services and Food & Drink sectors. Total permanent, full-time jobs among Irish-owned companies has increased by another 2.3% this year, with Irish-owned companies growing in employment in every year over the past decade.

“Among Foreign owned firms, employment growth in Chemicals, Business Services and Medical Devices sectors has meant that we have maintained 300,000 roles across FDI, with 2,237 additional roles added this year. Sales and exports continue to grow strongly, and these companies purchase goods and services in the local economy.

“Government enterprise policy is working and making a significant impact on employment levels and wider society. My Department will maintain a laser focus on jobs, actively supporting and incentivising Irish businesses, while also investing in bringing new jobs to Ireland”

Annual Employment Survey 2024 Key Findings:
- Employment in FDI firms increased by 0.3% since 2023, with 1,064 additional total jobs.
- In Irish-owned firms, employment increased by 2.7%, an increase of 5,966 total jobs since 2023.
- Among Irish owned firms the Energy, Water, Waste Construction sector gained the most jobs followed by Business Services with +1,444 and +995 full time jobs respectively.
- Among foreign owned firms Chemicals and Business Services gained the most jobs with +1,307 and +879 full time jobs respectively.
- Growth in employment between 2015-2024 was strongest in the Dublin region with an increase of 69.4% (+82,129), followed by the South-West (up 44.5%, +24,233 full time jobs). All regions grew employment over the ten-year period.
Annual Business Survey of Economic Impact (2023) Key Findings:
- Total sales amounted to €509.7 billion in 2023 which represents an increase of 6.8% in current prices on the previous year’s figure of €477.2 billion.
- Total exports in 2023 amounted to €459.4 billion, an increase of 7.0% on the previous year of €429.4 billion, with 92.4% of these exports being from foreign-owned enterprises.
- Value added (sales less materials and services costs) has also increased over this time-series and in 2023 amounted to €206.2 billion, up 6.4% on the previous year with 43.5% of this increase attributable to the foreign owned IT services sector.
- Direct Expenditure in the Irish Economy (Payroll, Irish Materials, Irish Services) has increased over 2022 by 4.8% to €78.5 billion in 2023. The level of direct expenditure in the Irish economy by foreign-owned client companies was €40.9 billion and €37.5 billion for Irish-owned client companies.
The Department of Enterprise, Trade and Employment co-ordinates these surveys of the client companies of the enterprise development agencies (Enterprise Ireland, IDA Ireland and Údarás na Gaeltachta). The results are presented by company ownership in terms of Irish and foreign-owned firms.

The indicators collected include annual sales and exports and payroll, materials and services costs. Data collected in 2023 and 2024 is merged with results of previous surveys to provide trend data and indicators are available by ownership and sector and are used by the agencies in their annual reports and end-of-year statements.

Agencies have commenced surveys of client companies for the 2024 Annual Business Survey of Economic Impact with all results expected early 2026.

ENDS

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MIL OSI Europe News –
February 18, 2025
MIL-OSI: Sparekassen Kronjylland, number one in customer satisfaction, signs Agillic to raise the bar

Source: GlobeNewswire (MIL-OSI)

Press release, Copenhagen, 18 February 2025

Sparekassen Kronjylland, among Denmark’s ten largest financial institutions, is organised around making a positive difference for the customers with a defined purpose to build life-long relationships and help customers get the best of their finance. As a guarantee savings bank, they aim to leverage the flexibility of not having shareholders to also make a difference in the local communities by supporting associations, clubs, and cultural institutions.

Customer satisfaction is the most important metric to Sparekassen Kronjylland and whilst ranking number one within banking in Denmark, they push to constantly improve and deliver ever more relevant information and customer experiences.

Trine Kastrup Berthelsen, Project Manager at Sparekassen Kronjylland explains: “Our promise to customers is financial security and our advisors work hard to foster trusted relationships by providing the most relevant guidance and advice at any given time. With Agillic, we have a modern platform to complement their effort and one that not only provides immediate impact but also scales long term as we continue to evolve our ambitions for how individualised our information and communication can and should be.”

Bo Sannung, Chief Solution Officer at Agillic adds: “Agillic’s ability to deliver highly individual customer experiences and personalised communication, and with uncompromising compliance on privacy and security, is critical for financial businesses. Welcoming Sparekassen Kronjylland, already number one in customer satisfaction, is a testament to that and we are proud to help them deliver as they continue to raise the bar on customer relationships.”

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

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

The MIL Network –

February 18, 2025
MIL-OSI United Kingdom: Delivering for rural Scotland

Source: Scottish Government

Communities surveyed on key priorities.

People living and working in rural communities are being asked their views on what government priorities should be to improve their lives.

A Scottish Government survey will help develop the forthcoming Rural Delivery Plan and is an opportunity to take a fresh look at to bring about change and address the issues in mainland rural Scotland. A separate National Islands Plan looks at how the Scottish Government is delivering for island communities.

Rural Scotland accounts for 98% of the land mass of Scotland and 17% of the population.

The Rural Delivery Plan will cover a range of areas, such as agriculture, transport, housing, health and social care, marine, land reform, population, skills, digital connectivity and economic development.

Cabinet Secretary for Rural Affairs, Land Reform and Islands Mairi Gougeon said:

“The Rural Delivery Plan will introduce, for the first time, a vision for rural Scotland with specific objectives and achievements we want to reach, how we intend to get there and how we will measure success along the way. This builds on our record of support for rural communities, such as preserving direct support for farmers and crofters, to improving online connectivity, and comes on the back of a lot of work with partners and communities to better understand the opportunities in our rural communities, as well as the particular challenges rural Scotland faces.

“Our vision is for a vibrant and sustainable rural Scotland with a thriving economy where families are able to access the services they need. I would encourage all those with an interest to take part in the survey and tell their friends and family so that the Plan we produce reflects their experiences and what is most important to them.”

Background

Rural Delivery Plan: vision, strategic objectives and key performance indicators – Scottish Government consultations – Citizen Space

The Survey is open until 17th March.

MIL OSI United Kingdom –

February 18, 2025
MIL-OSI United Kingdom: Statement following confirmation of withdrawal of UK Levelling Up fund money
Source: Scotland – City of Perth

Following confirmation from the UK Government that they will be withdrawing the £5m funding awarded to Perth and Kinross Council in March 2024, Council Leader, Councillor Grant Laing, said: “Perth has once again been set aside by the UK Government which seems determined to ignore all that our city has to offer. After finally being awarded funds as part of the UK Levelling Up Fund, at literally the last gasp, the incoming Labour government quickly put our hopes on hold.

“I appreciate that the UK Government is facing financial difficulties, it’s a problem that we share. But, it feels like Perth has felt the lion’s share of this impact because it took so long for us to be recognised as deserving of funding in the first place.

“Despite providing shovel ready projects which would demonstrably have had a beneficial impact on the city centre, the rug has been pulled out from under us and once again Perth has been left without investment while every other Scottish local authority with a city benefitted from Levelling Up Fund support.

“We remain committed to continuing to promote Perth and Kinross and all that it has to offer to all possible funding sources, whether that be public sector or private investors. And, as a Council we will continue to use the limited funding we have available to deliver on local priorities for the benefit of residents and businesses.”

The three projects identified for funding were:
- Lower City Mills – visitor attraction and office space
- Former Ironworks, South St John’s Place – exhibition and UNESCO City of Crafts makers and retail space
- A Taste of Perth and Kinross – High Street micro-producers outlet
MIL OSI United Kingdom –
February 18, 2025
MIL-OSI Europe: The ESAs provide a roadmap towards the designation of CTPPs under DORA
Source: European Banking Authority

The European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) are advancing in the implementation of the pan-European oversight framework of critical ICT third-party service providers (CTPPs) with the objective to designate the CTPPs and to start the oversight engagement this year.

CTPP designation and engagement

To designate the CTPPs in 2025, the ESAs will perform the following steps:
- Collection of the Registers of Information: Competent Authorities are required to submit to the ESAs, by 30 April 2025, the Registers of Information on ICT third-party arrangements they received from financial entities.
- Criticality assessments: The ESAs will perform the criticality assessments mandated by DORA and notify ICT third-party service providers of their classification as critical by July 2025. This notification will start a six-week period during which ICT third-party service providers may object to the assessment with a reasoned statement and relevant supporting information.
- Final Designation: After the six-week period, the ESAs will designate CTPPs and start oversight engagement with them.
ICT third-party service providers not designated as critical may voluntarily request to be designated as critical once the list of CTPPs is published. Details on how to request this will be provided soon.

Implementation of the oversight framework and setup of the joint ESAs oversight function

The ESAs have been preparing the governance, procedures and methodologies necessary to conduct oversight activities.

To maximise synergies, ensure consistency in the oversight tasks and use resources efficiently, the ESAs have set up a joint DORA oversight function, led since October 2024 by a joint Director. The establishment of this function will allow the ESAs to perform their day-to-day oversight duties with an integrated approach across their sectors.

Next steps

To provide clarity to the market on preparatory activities, the designation process and on the ESAs’ oversight approach, the ESAs plan to organise an online workshop with ICT third-party providers in the second quarter of 2025. Further details on the exact date will be published in due course.

Background

The EU’s Digital Operational Resilience Act (DORA), along with the oversight framework of CTPPs, entered into application on 17 January 2025, marking a significant milestone for enhancing the digital operational resilience of the financial sector in the EU.

In addition to Section II of chapter V of DORA, the relevant regulatory references of the oversight framework are the following:
- two Delegated Regulations adopted by the European Commission in Q4 2024 on the basis of two draft Regulatory Technical Standards (RTS) developed by the ESAs covering the items set out in Article 41 of DORA (here and here)
- two Delegated Regulations published in the Official Journal covering the designation criteria to be applied by the ESAs while designating CTPPs (here) and the fees that CTPPs are going to pay according to Article 43 (here)
- Guidelines on cooperation between the ESAs and the relevant Competent Authorities (here)
Financial entities can access the reporting rules for the Registers of Information here. These registers will be used as a basis for the designation of CTPP.
MIL OSI Europe News –
February 18, 2025
MIL-OSI China: National public data platform to begin trial run

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

BEIJING, Feb. 18 — China’s national platform for public data resource registration is set to launch a trial operation on March 1, an official from the National Data Administration said Tuesday.

Chen Ronghui, deputy head of the administration, said at a press conference that the platform serves not only as a management system for public data resources, but also as a portal for information disclosure and discovery.

Once the platform is operational, data providers will be able to publish information about data resources and products, while data users can search for data, according to Chen.

A key focus for this year’s data-related initiatives is to enhance the role of data in reducing corporate costs, fostering new quality productive forces and driving high-quality development, Chen said.

China introduced a set of guidelines last year to accelerate the development and utilization of public data resources. These measures aim to support the digital economy and strengthen the country’s competitive advantages in this sector.

By 2025, China expects to achieve substantial progress in developing and utilizing public data resources across key industries and regions. By 2030, public data is anticipated to play an important role in empowering the real economy, expanding consumer demand, and improving governance capacity, according to the guidelines.

The transaction volume of China’s data market is estimated to have topped 160 billion yuan (about 22.31 billion U.S. dollars) in 2024, marking a year-on-year increase of more than 30 percent, official data showed.

Looking ahead, Chen said efforts will be made to promote cross-sector data integration and develop multi-scenario applications to further unlock the value of data resources.

MIL OSI China News –

February 18, 2025
MIL-OSI United Kingdom: HMRC and VOA’s response to the Adjudicator’s Office 2024 annual report
Source: United Kingdom – Executive Government & Departments

HM Revenue and Customs’ and the Valuation Office Agency’s response to the Adjudicator’s Office annual report published in September 2024.
The Adjudicator’s Office Annual Report was published in September 2024. The report highlighted learning based on insight from complaints they investigated in 2023 to 2024. This is the department’s – HMRC’s and its executive agency, the Valuation Office Agency’s (VOA) – published response to the Adjudicator’s Annual Report.

We value the Adjudicator’s feedback and his continued support to help us achieve our vision of being a trusted, modern tax and customs organisation. This is Mike McMahon’s first report as the new Adjudicator, and we welcome Richard Fowler as the new Head of the Adjudicator’s Office.

The Adjudicator’s Annual Report highlighted the high volume of complaints we received during 2023 to 2024. We acknowledge that this was a difficult period as we faced serious challenges in delivering our customer services because of financial pressures and the need to manage a growing number of customers with complex tax affairs. Reducing demand for traditional contact channels like post and telephone, alongside the deployment of additional customer service advisers, has now enabled us to meet our telephony service standard and more effectively support those who need to speak to an adviser.

As noted in our Annual Report and Accounts, our strategy is firmly focused on how we can help more customers get things right first time, rather than fixing problems after they happen, and supporting more customers to self-serve using our online services. As more customers use our digital services, we will ensure that our customer service resource is focused on customers who need additional help.

Working together

We continue to work closely with the Adjudicator’s Office and embrace the two-way approach to feedback ensuring that we maximise learning from complaints to improve our services. The feedback we receive from the Adjudicator helps us to work towards our ambitions and deliver against our Charter and Compliance Professional Standards.

The introduction of the Adjudicator’s three-level reporting has supported even closer working between the organisations, with an open and constructive approach to identifying and engaging on issues. We have drawn insight from the Adjudicator’s Office to strengthen how we gather and share complaints insight on a quarterly basis, which has supported us to identify trends in customer issues.

The Adjudicator has played a valuable role at HMRC’s senior strategic forums, acting as a strong advocate for our customers.

Complaint handling

As noted in the Adjudicator’s Annual Report, we have taken a pro-active approach to addressing the cyclical nature of our complaints handling and seeking new and innovative ways to resolve the underlying causes of complaints. During 2023 to 2024, we conducted a deep dive into our complaints processes and handling to drive forward improvements to customer experience. This included resolving complaints at the earliest opportunity and we have seen an overall improvement in our 2024 to 2025 complaint performance as a result.

HMRC’s complaints strategy is aligned with the Parliamentary and Health Service Ombudsman’s UK Central Government Complaint Standards, which were developed in collaboration with government departments. The standards also align with HMRC’s Charter Standards and will deliver a consistent cross-government approach to complaint handling.

Learning from complaints

We continue to learn from the valuable insight gained through our complaints handling and have a multi-layered approach to gathering and acting on customer feedback, which is complemented by the feedback we receive from the Adjudicator and the Adjudicator’s Office.

Our Complaints Strategy and Insight Board (CSIB) continues to play a key role in providing oversight for the strategic direction of complaints and has supported work to address the Adjudicator’s feedback to improve customer experience.

We acted upon complaints insight to implement the following improvements for our customers during 2023 to 2024:

delivery of a series of insight events on customer impacts for complaints handlers to build capability and improve customer experience

support to complaint handlers to resolve issues at the first point of contact by enhancing our training products

development of a digital complaint route for agents

Customer focus

The Adjudicator’s Annual Report references our readiness to learn from our customers by highlighting the reversal of our decision to close our Self Assessment, VAT and PAYE helplines in March 2024. We stopped our plans in response to feedback and engaged with stakeholders to ensure we met taxpayers’ needs as we continue to encourage more customers to self-serve online.

The HMRC Charter defines the service and standard of behaviour that customers should expect when interacting with us. We continue to embrace the charter as the driver for cultural change and we welcome the Adjudicator’s feedback and case studies to ensure the standards are embedded throughout HMRC, including in our decision making. We have improved our processes to help customers who need extra support and those experiencing financial hardship. For example, we have implemented guidance to support our colleagues in making decisions on suitable reasonable adjustments for our customers.

Performance

The Adjudicator’s Annual Report recognised the challenges faced by HMRC during 2023 to 2024 noting that, despite delay being a key feature in complaints, we made positive improvements to our service levels towards the end of the reporting year.

We saw a slight increase in receipts of new complaints during 2023 to 2024, up by 1% compared to 2022 to 2023. Delay in our operational services continued to be a key driver with complaints relating to difficulty contacting us during peak periods. Average response times for dealing with new complaints also continued to be higher than we would like at 35.7 days.

The Adjudicator’s Annual Report highlighted an increase in complaints received from HMRC customers, up 10% on the previous year and they also fully investigated more complaints than in 2022 to 2023.

We resolved over 98% of complaints internally and during 2023 to 2024 upheld rates at the Adjudicator stage were down by 6% to 41% including partially and fully upheld.

HMRC’s response to the Adjudicator’s Office Insight Report: Applying Customer Circumstances to Decision Making

We value the Adjudicator’s insight report on applying customer circumstances to decision making and welcome publication of the report to improve transparency. We have reviewed the recommendations within the report and have taken the following actions to respond to the feedback in line with our Charter Standards:

launched a quality strategy to identify additional training requirements when applying customer circumstances to decision making

raised awareness of applying customer circumstances to decision making through our internal complaint newsletter and Complaints Community Forum

updated our internal guidance to support complaint handlers to identify customer vulnerabilities and fully consider their circumstances in the resolution of the complaint

reviewed a sample of customer cases to gain insight on how we can effectively apply customer circumstances to decision making

Valuation Office Agency

Over the last year, the VOA has seen increased customer demand for its services. Following the closure of the 2017 non-domestic rating list, the VOA received a significant number of checks and a subsequent increase in the number of challenges. Alongside this, the VOA continued to see high numbers of customers looking to challenge their Council Tax band.

The VOA handled 1,346 complaints in 2023 to 2024 which was a 58% increase from 2022 to 2023. Despite the increase in complaints received, the VOA have not seen a similar rise in escalations to the Adjudicator’s Office, demonstrating the effectiveness of the new resolution-focused approach and commitment to providing excellent customer service. 

The VOA benefit from a constructive working relationship with the Adjudicator’s Office and are pleased the Adjudicator recognises their progress in learning from complaints. This includes the introduction of quarterly complaints insight reports and sharing regular feedback on learning from complaints to support service improvements, resulting in better outcomes for customers.

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Published 18 February 2025
MIL OSI United Kingdom –
February 18, 2025
MIL-OSI China: Foreign Minister Lin hosts a welcome luncheon for Eswatini Deputy Prime Minister Dladla

Source: Republic of Taiwan – Ministry of Foreign Affairs

February 12, 2025

No. 037

Minister of Foreign Affairs Lin Chia-lung hosted a welcome luncheon on February 12 for a delegation from the Kingdom of Eswatini led by Deputy Prime Minister Thulisile Dladla. He thanked Eswatini for its staunch commitment to diplomatic alliance with Taiwan and for its firm support for Taiwan’s international participation over the years.

In his remarks at the event, Minister Lin also spoke about the heavy rainfall and subsequent flooding in Eswatini that had seriously impacted the lives of people in some areas. He extended sympathies to those affected and recounted President Lai Ching-te’s instruction that the Ministry of Foreign Affairs (MOFA) must do its utmost to assist in the Eswatini government’s relief efforts and increase food donations so that the disaster victims could resume normal life as early as possible.

Commenting on the close bilateral cooperation across various domains, Minister Lin stated that the strategic oil reserve project currently underway in Eswatini was the largest infrastructure project by the two countries since the establishment of diplomatic ties. He added that Taiwan and Eswatini had steadily strengthened collaboration in such areas as energy, agriculture, education, gender equality, and women’s empowerment. He noted that among the joint projects, the Women’s Business Start-Up Microfinance Revolving Fund established in 2023 with assistance from the Taiwan government had effectively provided start-up capital to female entrepreneurs in rural areas of Eswatini. Minister Lin affirmed that more than 500 women had benefited from the program and that a beneficiary family had named their newborn daughter Taiwan out of gratitude, highlighting the positive impact of the friendship between Taiwan and Eswatini on the people’s well-being. He further expressed that such developments were inspiring.

During the luncheon, Deputy Prime Minister Dladla thanked Taiwan for assisting in the national development of Eswatini. She reiterated that Eswatini would not falter in its support for Taiwan under any external pressure; that it would stand by Taiwan in the face of all challenges; and that it would continue to uphold Taiwan’s right to participate in all international organizations, including the United Nations.

Deputy Prime Minister Dladla emphasized that Taiwan and Eswatini enjoyed deep and extensive cooperation, having built a partnership as strong as family ties. As an example, she cited Taiwan’s prompt evacuation assistance to Eswatini expatriates in Ukraine when the Russia-Ukraine war erupted as testament to the genuine friendship between Taiwan and Eswatini.

The luncheon was also attended by Deputy Minister of Health and Welfare Lue Jen-der, Deputy Minister of Foreign Affairs François Chihchung Wu, Superintendent of Taipei Medical University Hospital Shih Chun-ming, and Board Chairperson of the Garden of Hope Foundation Pan Ay-woan. Participants exchanged views on healthcare, education, and energy collaboration between Taiwan and Eswatini; the creation of social safety nets; protection of vulnerable groups; and other issues.

Eswatini established diplomatic relations with Taiwan immediately after it gained independence in 1968. MOFA will maintain close cooperation with the government of Eswatini to steadily promote the Diplomatic Allies Prosperity Project, foster a reciprocal and mutually beneficial partnership, enhance the well-being of the peoples of Taiwan and Eswatini, and further consolidate bilateral ties. (E)

MIL OSI China News –

February 18, 2025
MIL-OSI Asia-Pac: Foreign Minister Lin hosts a welcome luncheon for Eswatini Deputy Prime Minister Dladla

Source: Republic of China Taiwan 3

February 12, 2025
No. 037Minister of Foreign Affairs Lin Chia-lung hosted a welcome luncheon on February 12 for a delegation from the Kingdom of Eswatini led by Deputy Prime Minister Thulisile Dladla. He thanked Eswatini for its staunch commitment to diplomatic alliance with Taiwan and for its firm support for Taiwan’s international participation over the years.

In his remarks at the event, Minister Lin also spoke about the heavy rainfall and subsequent flooding in Eswatini that had seriously impacted the lives of people in some areas. He extended sympathies to those affected and recounted President Lai Ching-te’s instruction that the Ministry of Foreign Affairs (MOFA) must do its utmost to assist in the Eswatini government’s relief efforts and increase food donations so that the disaster victims could resume normal life as early as possible.

Commenting on the close bilateral cooperation across various domains, Minister Lin stated that the strategic oil reserve project currently underway in Eswatini was the largest infrastructure project by the two countries since the establishment of diplomatic ties. He added that Taiwan and Eswatini had steadily strengthened collaboration in such areas as energy, agriculture, education, gender equality, and women’s empowerment. He noted that among the joint projects, the Women’s Business Start-Up Microfinance Revolving Fund established in 2023 with assistance from the Taiwan government had effectively provided start-up capital to female entrepreneurs in rural areas of Eswatini. Minister Lin affirmed that more than 500 women had benefited from the program and that a beneficiary family had named their newborn daughter Taiwan out of gratitude, highlighting the positive impact of the friendship between Taiwan and Eswatini on the people’s well-being. He further expressed that such developments were inspiring.

During the luncheon, Deputy Prime Minister Dladla thanked Taiwan for assisting in the national development of Eswatini. She reiterated that Eswatini would not falter in its support for Taiwan under any external pressure; that it would stand by Taiwan in the face of all challenges; and that it would continue to uphold Taiwan’s right to participate in all international organizations, including the United Nations.

Deputy Prime Minister Dladla emphasized that Taiwan and Eswatini enjoyed deep and extensive cooperation, having built a partnership as strong as family ties. As an example, she cited Taiwan’s prompt evacuation assistance to Eswatini expatriates in Ukraine when the Russia-Ukraine war erupted as testament to the genuine friendship between Taiwan and Eswatini.

The luncheon was also attended by Deputy Minister of Health and Welfare Lue Jen-der, Deputy Minister of Foreign Affairs François Chihchung Wu, Superintendent of Taipei Medical University Hospital Shih Chun-ming, and Board Chairperson of the Garden of Hope Foundation Pan Ay-woan. Participants exchanged views on healthcare, education, and energy collaboration between Taiwan and Eswatini; the creation of social safety nets; protection of vulnerable groups; and other issues.

Eswatini established diplomatic relations with Taiwan immediately after it gained independence in 1968. MOFA will maintain close cooperation with the government of Eswatini to steadily promote the Diplomatic Allies Prosperity Project, foster a reciprocal and mutually beneficial partnership, enhance the well-being of the peoples of Taiwan and Eswatini, and further consolidate bilateral ties. (E)

MIL OSI Asia Pacific News –

February 18, 2025
MIL-OSI Asia-Pac: President Lai meets British-Taiwanese All-Party Parliamentary Group delegation

Source: Republic of China Taiwan

Details
2025-02-17
President Lai meets former United States Deputy National Security Advisor Matthew Pottinger
On the morning of February 17, President Lai Ching-te met with a delegation led by former United States Deputy National Security Advisor Matthew Pottinger. In remarks, President Lai thanked the delegation for demonstrating staunch support for Taiwan through their visit. The president pointed out that increased cooperation between authoritarian regimes is posing risks and challenges to the geopolitical landscape and regional security. He emphasized that only by bolstering our defense capabilities can we demonstrate effective deterrence and maintain peace and stability across the Taiwan Strait and around the world. The president stated that moving forward, Taiwan will continue to enhance its self-defense capabilities. He also expressed hope of strengthening the Taiwan-US partnership and jointly building secure and resilient non-red supply chains so as to ensure that Taiwan, the US, and democratic partners around the world maintain a technological lead. A translation of President Lai’s remarks follows: I am delighted to welcome our good friends Mr. Pottinger and retired US Rear Admiral Mr. Mark Montgomery to Taiwan once again. Last June, Mr. Pottinger and Mr. Ivan Kanapathy came to Taiwan to launch their new book The Boiling Moat. During that visit, they also visited the Presidential Office. We held an extensive exchange of views on Taiwan-US relations and regional affairs right here in the Taiwan Heritage Room. Now, as we meet again eight months later, I am pleased to learn that Mr. Kanapathy is now serving on the White House National Security Council. The Mandarin translation of The Boiling Moat is also due to be released in Taiwan very soon. This book offers insightful observations from US experts regarding US-China-Taiwan relations and valuable advice for the strengthening of Taiwan’s national defense, security, and overall resilience. I am sure that Taiwanese readers will benefit greatly from it. I understand that this is Mr. Montgomery’s fourth visit to Taiwan and that he has long paid close attention to Taiwan-related issues. I look forward to an in-depth discussion with our two friends on the future direction of Taiwan-US relations and cooperation. Increased cooperation between authoritarian regimes is posing risks and challenges to the geopolitical landscape and regional security. One notion we all share is peace through strength. That is, only by bolstering our defense capabilities and fortifying our defenses can we demonstrate effective deterrence and maintain peace and stability across the Taiwan Strait and around the world. Moving forward, Taiwan will continue to enhance its self-defense capabilities. We also hope to strengthen the Taiwan-US partnership in such fields as security, trade and the economy, and energy. In addition, we will advance cooperation in critical and innovative technologies and jointly build secure and resilient non-red supply chains. This will ensure that Taiwan, the US, and democratic partners around the world maintain a technological lead. We believe that closer Taiwan-US exchanges and cooperation not only benefit national security and development but also align with the common economic interests of Taiwan and the US. I want to thank Mr. Pottinger and Mr. Montgomery once again for visiting and for continuing to advance Taiwan-US exchanges, demonstrating staunch support for Taiwan. Let us continue to work together to deepen Taiwan-US relations. I wish you a smooth and fruitful visit. Mr. Pottinger then delivered remarks, first congratulating President Lai on his one-year election anniversary and on the state of the economy, which, he added, is doing quite well. Mentioning President Lai’s recent statement pledging to increase Taiwan’s defense budget to above 3 percent of GDP, Mr. Pottinger said he thinks that the benchmark is equal to what the US spends on its defense and that it is a good starting point for both countries to build deterrence. Echoing the president’s earlier remarks, Mr. Pottinger said that peace through strength is the right path for the US and for Taiwan right now at a moment when autocratic, aggressive governments are on the march. He then paraphrased the words of former US President George Washington in his first inaugural address, saying that the best way to keep the peace is to be prepared at all times for war, which captures the meaning of peace through strength. In closing, he said he looks forward to exchanging views with President Lai.

Details
2025-02-17
President Lai meets Deputy Prime Minister Thulisile Dladla of the Kingdom of Eswatini
On the afternoon of February 11, President Lai Ching-te met with a delegation led by Deputy Prime Minister Thulisile Dladla of the Kingdom of Eswatini. In remarks, President Lai thanked Eswatini for continuing to support Taiwan’s international participation at international venues. The president stated that Taiwan and Eswatini work closely in such areas as agriculture, the economy and trade, education, and healthcare, and expressed hope that the two countries will continue to support each other on the international stage and strive together for the well-being of both peoples. A translation of President Lai’s remarks follows: I warmly welcome our distinguished guests to the Presidential Office. Deputy Prime Minister Dladla previously visited Taiwan while serving as minister of foreign affairs. This is her first time leading a delegation here as deputy prime minister. I want to extend my sincerest welcome. Deputy Prime Minister Dladla has earned a high degree of recognition and trust from His Majesty King Mswati III. She was not only Eswatini’s first woman foreign minister, but is also the second woman to have held her current key position. She shows an active interest in people’s welfare, and has a reputation for being deeply devoted to her compatriots. I have great admiration for this. I am truly delighted to meet with Deputy Prime Minister Dladla today. I would like to take this opportunity to once again express my gratitude to His Majesty the King for leading a delegation to attend the inauguration ceremony for myself and Vice President Bi-khim Hsiao last year. This demonstrated the close diplomatic ties between our countries. I also want to thank Eswatini for continuing to support Taiwan’s international participation at international venues. I would ask that when Deputy Prime Minister Dladla returns to Eswatini, she conveys Taiwan’s greetings and gratitude to His Majesty the King and Her Majesty the Queen Mother Ntombi Tfwala. Diplomatic ties between Taiwan and Eswatini have endured for over half a century. Our two nations have continued to work closely in such areas as agriculture, the economy and trade, education, and healthcare. Our largest collaboration to date has been assisting Eswatini in the construction of a strategic oil reserve facility. We will continue to push forward with this project, and look forward to achieving even greater results in all areas. I understand that Deputy Prime Minister Dladla is very concerned about issues regarding gender equality and women’s empowerment. During her term as foreign minister, she facilitated bilateral cooperation in those areas. Now, as deputy prime minister, she is actively attending to the disadvantaged and advancing social welfare. These policies are very much in line with the priorities of my administration. I look forward to strengthening cooperation with Deputy Prime Minister Dladla for the benefit of both our societies. Taiwan and Eswatini are peace-loving nations. Faced with a constantly changing international landscape and the growing threat posed by authoritarianism, we hope that our two countries will continue to support each other on the international stage and strive together for the well-being of both our peoples. In closing, I wish Deputy Prime Minister Dladla and our distinguished guests a pleasant and successful visit. Deputy Prime Minister Dladla then delivered remarks, first greeting President Lai on behalf of the King, the Queen Mother, and the people of Eswatini, and extending gratitude for the warm reception afforded to her and her delegation, which underscores the strong bonds of friendship between our two nations. The deputy prime minister stated that, in reflecting on the fruits of our partnership, the evidence of Taiwan’s commitment to Eswatini is all around us. The strategic oil reserve project launching in April, she indicated, will redefine Eswatini’s energy security, and the Central Bank complex and electrification project stand as monuments of Taiwan’s vision for Eswatini’s progress and indicate that our partnerships are very strong. Deputy Prime Minister Dladla pointed out that education is the foundation of any nation’s progress, and that Taiwan’s contribution to Eswatini’s education sector cannot be overstated. Through Ministry of Foreign Affairs scholarship programs, she said, Eswatini has sent numerous students to Taiwan, where they’ve received world-class education in various disciplines, including engineering, business, and medicine. In turn, she said, these graduates are now contributing to the development of Eswatini. The deputy prime minister stated that Taiwan has also strengthened Eswatini’s industrial and technological sectors, with collaborations and partnerships that create new opportunities for employment and innovation, and that Taiwan’s technical and medical assistance has strengthened Eswatini’s healthcare systems and uplifted the expertise of its professionals. Deputy Prime Minister Dladla also congratulated President Lai once again on his presidency, which she stated will lead Taiwan to new heights, adding that His Majesty coming to Taiwan personally for the inauguration was a resounding declaration of Eswatini’s enduring support for Taiwan’s sovereignty, stability, and rightful place on the world stage. She emphasized that Eswatini stands with Taiwan always and unwaveringly. In conclusion, the deputy prime minister stated that Eswatini fully agrees with Taiwan that we must all safeguard our national sovereignty and protect the lives and property of our people. She said that our common enemy will always be poverty and natural disasters, but against all odds, we will stand united, and we shall remain united and be one. The delegation was accompanied to the Presidential Office by Eswatini Ambassador Promise Sithembiso Msibi.

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2025-02-17
Presidential Office thanks US and Japan for joint leaders’ statement
On February 7 (US EST), President Donald Trump of the United States and Prime Minister Ishiba Shigeru of Japan issued a joint leaders’ statement reiterating “the importance of maintaining peace and stability across the Taiwan Strait as an indispensable element of security and prosperity for the international community.” In the statement, the two leaders also “encouraged the peaceful resolution of cross-strait issues, and opposed any attempts to unilaterally change the status quo by force or coercion” and “expressed support for Taiwan’s meaningful participation in international organizations.” Presidential Office Spokesperson Karen Kuo (郭雅慧) on February 8 expressed sincere gratitude on behalf of the Presidential Office to the leaders of both countries for taking concrete action to demonstrate their firm support for peace and stability across the Taiwan Strait and for Taiwan’s international participation. Spokesperson Kuo pointed out that there is already a strong international consensus on the importance of peace and stability in the Indo-Pacific region. The spokesperson emphasized that Taiwan, as a responsible member of the international community, is capable and willing to work together with the international community and will continue strengthening its self-defense capabilities as it deepens its trilateral security partnership with the US and Japan and works alongside like-minded countries to uphold the rules-based international order. The spokesperson said that Taiwan will work toward ensuring a free and open Taiwan Strait and Indo-Pacific region, as well as global peace, stability, and prosperity, as it continues to act as a force for good in the world.

Details
2025-02-17
President Lai’s response to Pope Francis’s 2025 World Day of Peace message
President Lai Ching-te recently sent a letter to Pope Francis of the Catholic Church in response to his message marking the 58th World Day of Peace. The following is the full text of the president’s letter to the pope: Your Holiness, In your message for the 2025 World Day of Peace entitled Forgive us our trespasses: grant us your peace, you called for a cultural change that would bring an end to the governance of interpersonal and international relations by a logic of exploitation and oppression and herald true and lasting peace. I wholeheartedly admire and identify with your point of view. Since transitioning from a medical career to politics, I have remained true to my original intentions in the sense that, while a doctor can help only one person at a time, a public servant can simultaneously assist many people in resolving the difficulties affecting their lives. In my inaugural address in May 2024, I pledged that every day of my term, I would strive to act justly, show mercy, and be humble, which accord with the teachings of the Bible. I promised to treat the Taiwanese people as family and prove myself worthy of their trust and expectations. With an unwavering heart, I have accepted the people’s trust and taken on the solemn responsibility of leading the nation forward and building a democratic, peaceful, and prosperous new Taiwan. In this new year, the changing international landscape continues to present many grave challenges to democratic nations around the world. As the Russia-Ukraine war persists, the steady convergence of authoritarian regimes, including China, Russia, North Korea, and Iran, threatens the rules-based international order and severely impacts peace and stability in the Indo-Pacific and the world at large. Your Holiness has stated that war is a defeat for everyone. I, too, firmly believe that peace is priceless and that war has no winners. A high level of consensus has formed in the international community on upholding peace and stability across the Taiwan Strait. The Taiwanese people also maintain an unyielding commitment to safeguarding a way of life that encompasses freedom, equality, democracy, and human rights. Taiwan will continue to spare no effort in preserving regional peace and stability and serving as a pilot for global peace. In your World Day of Peace message, you urged prosperous countries to assist poorer ones. This compassion is truly touching. Taiwan is proactively implementing values-based diplomacy and, under the Diplomatic Allies Prosperity Project, enhancing allies’ development through a range of initiatives. Over many years, Taiwan has accumulated abundant and unique experience of providing foreign assistance. Seeking to foster self-reliance among disadvantaged countries, we have extended genuine support to help alleviate poverty through such avenues as strengthening basic infrastructure, transferring technology, and cultivating talent. In your message, you reminded countries worldwide that assistance should not be merely an isolated act of charity and pointed to the need to devise a new global financial framework so that food crises, climate change, and other challenges could be jointly addressed. I hold this view in high regard. I therefore earnestly hope that international organizations will stop excluding Taiwan for political reasons. Taiwan is willing to shoulder its international responsibilities so that it can contribute and share its valuable experience through many global platforms. On behalf of the government and people of the Republic of China (Taiwan), I again express our interest in collaborating with the Holy See to advance world peace through concrete action. We also aspire to demonstrate Taiwanese values and the Taiwanese spirit and work together with the Holy See to uphold the core values of justice, democracy, freedom, and peace. Please accept, Your Holiness, the renewed assurances of my highest consideration, as well as my best wishes for your good health and the continued growth of the Catholic Church.

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2025-02-17
President Lai meets former US Vice President Mike Pence
On the afternoon of January 17, President Lai Ching-te met with former Vice President of the United States Mike Pence. In remarks, President Lai thanked former Vice President Pence for his contributions to the deepening of Taiwan-US relations, noting that he actively helped to strengthen Taiwan-US cooperation and facilitate the normalization of military sales to Taiwan, and did his utmost to deepen the Taiwan-US economic partnership. The president indicated that former Vice President Pence also spoke up for Taiwan on numerous occasions at international venues, backing Taiwan’s international participation. President Lai expressed hope for a stronger Taiwan-US partnership to maintain peace and stability throughout the world, and that the two sides can advance bilateral exchanges in such areas as the economy, trade, and industry. A translation of President Lai’s remarks follows: I am delighted to welcome former Vice President Pence and Mrs. Karen Pence to the Presidential Office. Former Vice President Pence is not only an outstanding political leader in the US, but also a staunch supporter of Taiwan on the international stage. On behalf of the people of Taiwan, I would like to take this opportunity to extend our deepest gratitude to former Vice President Pence for his contributions to the deepening of Taiwan-US relations. Thanks to former Vice President Pence’s strong backing, ties between Taiwan and the US rose to unprecedented heights during President Donald Trump’s first administration. Former Vice President Pence actively helped to strengthen Taiwan-US security cooperation and facilitate the normalization of military sales to Taiwan, helping Taiwan reinforce its self-defense capabilities. He also did his utmost to deepen the Taiwan-US economic partnership. Former Vice President Pence also paid close attention to the military threats and diplomatic isolation faced by Taiwan. He spoke up for Taiwan on numerous occasions at international venues, taking concrete action to back Taiwan’s international participation. We were truly grateful for this. As we speak, China’s political and military intimidation against Taiwan persist. China and other authoritarian regimes, such as Russia, North Korea, and Iran, are continuing to converge and present serious challenges to democracies around the globe. At this moment, free and democratic nations must come together to bolster cooperation. I believe that a stronger Taiwan-US partnership can be an even more powerful force in maintaining peace and stability throughout the world. Former Vice President Pence has previously supported the signing of a trade agreement between Taiwan and the US. Taiwan looks forward to continuing to work with the new US administration and Congress to advance bilateral exchanges in such areas as the economy, trade, and industry. This is the first time that former Vice President Pence and Mrs. Pence are visiting Taiwan, and their visit is significantly meaningful for Taiwan-US exchanges. On behalf of the people of Taiwan, I want to extend a warm welcome. Moving forward, I hope we will jointly realize even more fruitful achievements through Taiwan-US cooperation. Former Vice President Pence then delivered remarks, thanking President Lai for his hospitality on his and his wife’s first visit to Taiwan, saying that it is an honor to be here to reaffirm the bonds of friendship between the people of America and the people of Taiwan, which are strong and longstanding. The former vice president indicated that the American people admire the people of Taiwan and all that has been accomplished in a few short decades for Taiwan to rise to one of the world’s preeminent economic powers and free societies. He said that he is grateful for President Lai’s courageous and bold leadership of Taiwan, and grateful to be able to express the support of the overwhelming majority of the American people for this alliance. Former Vice President Pence indicated that the values shared by Taiwan and the US, including freedom, the rule of law, and respect for human rights, bind us together in a partnership that transcends geographic boundaries and cultures. He then assured President Lai that China’s increasingly aggressive posture in the Taiwan Strait and across the Indo-Pacific, for the values and interests that both sides share, is deeply concerning to the American people. Former Vice President Pence stated that America is a Pacific nation, and is committed to the status quo, adding that they recognize it is China that wants to change the status quo that America, Taiwan, and other allies in the region want to preserve, which has created an environment of extraordinary growth and prosperity. The former vice president concluded by once again thanking President Lai and his team for their gracious hospitality and conveying best wishes to him and the people of Taiwan. Former Vice President Pence then assured President Lai that just as Taiwan will never surrender its freedom, he will continue to be a voice for a strong US-Taiwan relationship in the defense and the benefit of Taiwan, the US, and the free world. Later that day, Vice President Bi-khim Hsiao hosted a banquet for former Vice President Pence and his delegation at Taipei Guest House to thank him for his longstanding friendship and staunch support for Taiwan-US ties.

Details
2025-02-14
President Lai holds press conference following high-level national security meeting
On the morning of February 14, President Lai Ching-te convened the first high-level national security meeting of the year, following which he held a press conference. In remarks, President Lai announced that in this new year, the government will prioritize special budget allocations to ensure that Taiwan’s defense budget exceeds 3 percent of GDP. He stated that the government will also continue to reform national defense, reform our legal framework for national security, and advance our economic and trade strategy of being rooted in Taiwan while expanding globally. The president also proposed clear-cut national strategies for Taiwan-US relations, semiconductor industry development, and cross-strait relations. President Lai indicated that he instructed the national security and administrative teams to take swift action and deliver results, working within a stable strategic framework and according to the various policies and approaches outlined. He also instructed them to keep a close watch on changes in the international situation, seize opportunities whenever they arise, and address the concerns and hope of the citizens with concrete actions. He expressed hope that as long as citizens remain steadfast in their convictions, are willing to work hand in hand, stand firm amidst uncertainty, and look for ways to win within changing circumstances, Taiwan is certain to prevail in the test of time yet again. A translation of President Lai’s remarks follows: First, I would like to convey my condolences for the tragic incident which occurred at the Shin Kong Mitsukoshi department store in Taichung, which resulted in numerous casualties. I have instructed Premier Cho Jung-tai (卓榮泰) to lead the relevant central government agencies in assisting Taichung’s municipal government with actively resolving various issues regarding the incident. It is my hope that these issues can be resolved efficiently. Earlier today, I convened this year’s first high-level national security meeting. I will now report on the discussions from the meeting to all citizens. 2025 is a year full of challenges, but also a year full of hope. In today’s global landscape, the democratic world faces common threats posed by the convergence of authoritarian regimes, while dumping and unfair competition from China undermine the global economic order. A new United States administration was formed at the beginning of the year, adopting all-new strategies and policies to address challenges both domestic and from overseas. Every nation worldwide, including ours, is facing a new phase of changes and challenges. In face of such changes, ensuring national security, ensuring Taiwan’s indispensability in global supply chains, and ensuring that our nation continues to make progress amidst challenges are our top priorities this year. They are also why we convened a high-level national security meeting today. At the meeting, the national security team, the administrative team led by Premier Cho, and I held an in-depth discussion based on the overall state of affairs at home and abroad and the strategies the teams had prepared in response. We summed up the following points as an overall strategy for the next stage of advancing national security and development. First, for overall national security, so that we can ensure the freedom, democracy, and human rights of the Taiwanese people, as well as the progress and development of the nation as we face various threats from authoritarian regimes, Taiwan must resolutely safeguard national sovereignty, strengthen self-sufficiency in national defense, and consolidate national defense. Taiwan must enhance economic resilience, maintain economic autonomy, and stand firm with other democracies as we deepen our strategic partnerships with like-minded countries. As I have said, “As authoritarianism consolidates, democratic nations must come closer in solidarity!” And so, in this new year, we will focus on the following three priorities: First, to demonstrate our resolve for national defense, we will continue to reform national defense, implement whole-of-society defense resilience, and prioritize special budget allocations to ensure that our defense budget exceeds 3 percent of GDP. Second, to counter the threats to our national security from China’s united front tactics, attempts at infiltration, and cognitive warfare, we will continue with the reform of our legal framework for national security and expand the national security framework to boost societal resilience and foster unity within. Third, to seize opportunities in the restructuring of global supply chains and realignment of the economic order, we will continue advancing our economic and trade strategy of being rooted in Taiwan while expanding globally, strengthening protections for high-tech, and collaborating with our friends and allies to build supply chains for global democracies. Everyone shares concern regarding Taiwan-US relations, semiconductor industry development, and cross-strait relations. For these issues, I am proposing clear-cut national strategies. First, I will touch on Taiwan-US relations. Taiwan and the US have shared ideals and values, and are staunch partners within the democratic, free community. We are very grateful to President Donald Trump’s administration for their continued support for Taiwan after taking office. We are especially grateful for the US and Japan’s joint leaders’ statement reiterating “the importance of maintaining peace and stability across the Taiwan Strait as an indispensable element of security and prosperity for the international community,” as well as their high level of concern regarding China’s threat to regional security. In fact, the Democratic Progressive Party government has worked very closely with President Trump ever since his first term in office, and has remained an international partner. The procurement of numerous key advanced arms, freedom of navigation critical for security and stability in the Taiwan Strait, and many assisted breakthroughs in international diplomacy were made possible during this time. Positioned in the first island chain and on the democratic world’s frontline countering authoritarianism, Taiwan is willing and will continue to work with the US at all levels as we pursue regional stability and prosperity, helping realize our vision of a free and open Indo-Pacific. Although changes in policy may occur these next few years, the mutual trust and close cooperation between Taiwan and Washington will steadfastly endure. On that, our citizens can rest assured. In accordance with the Taiwan Relations Act and the Six Assurances, the US announced a total of 48 military sales to Taiwan over the past eight years amounting to US$26.265 billion. During President Trump’s first term, 22 sales were announced totaling US$18.763 billion. This greatly supported Taiwan’s defensive capabilities. On the foundation of our close cooperation with the past eight years’ two US administrations, Taiwan will continue to demonstrate our determination for self-defense, accelerate the bolstering of our national defense, and keep enhancing the depth and breadth of Taiwan-US security cooperation, along with all manner of institutional cooperation. In terms of bilateral economic cooperation, Taiwan has always been one of the US’s most reliable trade partners, as well as one of the most important cooperative partners of US companies in the global semiconductor industry. In the past few years, Taiwan has greatly increased both direct and indirect investment in the US. By 2024, investment surpassed US$100 billion, creating nearly 400,000 job opportunities. In 2023 and 2024, investment in the US accounted for over 40 percent of Taiwan’s overall foreign investment, far surpassing our investment in China. In fact, in 2023 and 2024, Taiwanese investment in China fell to 11 percent and 8 percent, respectively. The US is now Taiwan’s biggest investment target. Our government is now launching relevant plans in accordance with national development needs and the need to establish secure supply systems, and the Executive Yuan is taking comprehensive inventory of opportunities for Taiwan-US economic and trade cooperation. Moving forward, close bilateral cooperation will allow us to expand US investment and procurement, facilitating balanced trade. Our government will also strengthen guidance and support for Taiwanese enterprises on increasing US investment, and promote the global expansion and growth of Taiwan’s industries. We will also boost Taiwan-US cooperation in tech development and manufacturing for AI and advanced semiconductors, and work together to maintain order in the semiconductor market, shaping a new era for our strategic economic partnership. Second, the development of our semiconductor industry. I want to emphasize that Taiwan, as one of the world’s most capable semiconductor manufacturing nations, is both willing and able to address new situations. With respect to President Trump’s concerns about our semiconductor industry, the government will act prudently, strengthen communications between Taiwan and the US, and promote greater mutual understanding. We will pay attention to the challenges arising from the situation and assist businesses in navigating them. In addition, we will introduce an initiative on semiconductor supply chain partnerships for global democracies. We are willing to collaborate with the US and our other democratic partners to develop more resilient and diversified semiconductor supply chains. Leveraging our strengths in cutting-edge semiconductors, we will form a global alliance for the AI chip industry and establish democratic supply chains for industries connected to high-end chips. Through international cooperation, we will open up an entirely new era of growth in the semiconductor industry. As we face the various new policies of the Trump administration, we will continue to uphold a spirit of mutual benefit, and we will continue to communicate and negotiate closely with the US government. This will help the new administration’s team to better understand how Taiwan is an indispensable partner in the process of rebuilding American manufacturing and consolidating its leadership in high-tech, and that Taiwan-US cooperation will benefit us both. Third, cross-strait relations. Regarding the regional and cross-strait situation, Taiwan-US relations, US-China relations, and interactions among Taiwan, the US, and China are a focus of global attention. As a member of the international democratic community and a responsible member of the region, Taiwan hopes to see Taiwan-US relations continue to strengthen and, alongside US-China relations, form a virtuous cycle rather than a zero-sum game where one side’s gain is another side’s loss. In facing China, Taiwan will always be a responsible actor. We will neither yield nor provoke. We will remain resilient and composed, maintaining our consistent position on cross-strait relations: Our determination to safeguard our national sovereignty and protect our free and democratic way of life remains unchanged. Our efforts to maintain peace and stability in the Taiwan Strait, as well as our willingness to work alongside China in the pursuit of peace and mutual prosperity across the strait, remain unchanged. Our commitment to promoting healthy and orderly exchanges across the strait, choosing dialogue over confrontation, and advancing well-being for the peoples on both sides of the strait, under the principles of parity and dignity, remains unchanged. Regarding the matters I reported to the public today, I have instructed our national security and administrative teams to take swift action and deliver results, working within a stable strategic framework and according to the various policies and approaches I just outlined. I have also instructed them to keep a close watch on changes in the international situation, seize opportunities whenever they arise, and address the concerns and hope of the citizens with concrete actions. My fellow citizens, over the past several years, Taiwan has weathered a global pandemic and faced global challenges, both political and economic, arising from the US-China trade war and Russia’s invasion of Ukraine. Through it all, Taiwan has persevered; we have continued to develop our economy, bolster our national strength, and raise our international profile while garnering more support – all unprecedented achievements. This is all because Taiwan’s fate has never been decided by the external environment, but by the unity of the Taiwanese people and the resolve to never give up. A one-of-a-kind global situation is creating new strategic opportunities for our one-of-a-kind Taiwanese people, bringing new hope. Taiwan’s foundation is solid; its strength is great. So as long as everyone remains steadfast in their convictions, is willing to work hand in hand, stands firm amidst uncertainty, and looks for ways to win within changing circumstances, Taiwan is certain to prevail in the test of our time yet again, for I am confident that there are no difficulties that Taiwan cannot overcome. Thank you.

MIL OSI Asia Pacific News –

February 18, 2025
MIL-OSI United Kingdom: Mayor proposes record-breaking £1.16bn investment in the Metropolitan Police
Source: Mayor of London
- In a draft budget published last night the Mayor proposed an additional £83m investment – £10m from City Hall and £73m from central Government – to go into policing
- The £83m additional builds on the extra £237m already announced for next year to give a record £320m increase
- In total, this means there will be £1.159 billion Mayoral funding policing in 2025-26. It is the largest figure ever spent on policing in the capital, the biggest year-on-year settlement ever proposed for the Met and more than double the previous Mayor’s final budget for policing
- It comes as the number of homicides, young people being injured with knives and burglary are all down since Sadiq was first elected in 2016
The Mayor of London, Sadiq Khan, has today proposed an extra £83m million – £10m from City Hall and £73million from central government – for policing in his final draft budget bringing total Mayoral investment in the Met to an historic £1.159 billion for the next year.

It means there is an additional £320m funding for the Metropolitan Police compared to the current year’s budget, an unprecedented increase. This additional investment will keep hundreds of Metropolitan Police officer posts and reduce expected cuts to key specialist police units.

Last November’s budget submission from the Mayor’s Office for Policing and Crime (MOPAC) assumed that by 31 March 2026, the Met would need to reduce the number of officers by 1,899 to 30,553 due to chronic underfunding by the previous government, which reduced annual core funding for policing in the capital by £1.1 billion in real terms.

The Mayor has confirmed that some of the cuts the Metropolitan Police had originally proposed in November will be substantially scaled back due to this proposed investment, which will be used to fund additional police officers, key police staff and the equipment they need to carry out their roles. Final decisions on how to use the extra investment will be considered by MOPAC and the Met, with plans announced next month. It is expected that hundreds of officer posts will be kept in place due to this investment, on top of the 420 officers funded in last month’s Provisional Policing Settlement.

There is still much more to do to tackle crime in London and this proposed investment by the Mayor and the Government will help the Met to continue to invest in tacking crime locally and build on the progress being made. The number of homicides, young people being injured with knives, and burglary are all down since Sadiq was first elected in 2016. Homicides are also falling – there were fewer homicides of people under-25 in London last year than any year since 2003. The number of teenage homicides in London last year was at its lowest total since 2012.

In total, Sadiq has earmarked a record £1.159 billion to fund policing in 2025-26 – an increase of nearly 105 per cent in annual funding compared to the previous Mayor’s final budget. But despite this investment, and the extra support from the new government, the Met is still facing significant financial pressures due to over a decade of real terms cuts by the previous government.

The Mayor of London, Sadiq Khan, said: “No-one should under-estimate the significance of this. It is a record amount of investment.

“Bearing down on crime and keeping Londoners safe is my top priority as Mayor and I’ll always use all the levers at my disposal to fund the police, investing record sums from City Hall.

“I am pleased to propose an additional £320 million since last year for the Metropolitan Police, with £83m more since January, thanks to Government support.

“Despite this record-breaking additional funding, the Met still faces a difficult financial situation due to over a decade of cuts by the previous government. As Mayor, I will continue to work with the new government and the Commissioner ahead of the forthcoming spending review on the funding the Met needs to ensure we can continue building a safer London for everyone.”

The Mayor’s final draft Budget also confirms £147.5 million of funding to deliver free school meals for all London’s state primary schoolchildren in 2025-26 – the third year of the historic scheme. Delivering free school meals has been one of Sadiq’s proudest moments as Mayor and he has vowed to continue the scheme for as long as he is in office.

More than 43 million free school meals were funded in the first year of the scheme, with up to 287,000 children benefitting and families saving more than £1,000 per child over the first two years of the scheme.
MIL OSI United Kingdom –
February 18, 2025
MIL-OSI: NFG Acquires Controlling Stake in Cayman-Based Kessner Capital Management Ltd., Expanding African Investment Portfolio

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Feb. 18, 2025 (GLOBE NEWSWIRE) — NFG SA (“NFG”), a Swiss private investment firm, today announced that it has signed an agreement to acquire a 76% controlling stake in Kessner Capital Management Ltd. (“Kessner”), a Cayman-based alternative investment management company specializing in debt solutions for African markets. Completion of the transaction is subject to customary regulatory approvals. This acquisition is accompanied by an investment of up to $50 million, aimed at expanding Kessner’s tailored debt solution across the continent.

Economic projections for Africa show a GDP increase from 3.4% in 2024 to 4.0% by 2026, spurred by growth in key economies including Egypt, Nigeria, and South Africa. The African Continental Free Trade Area (AfCFTA) is enhancing trade and investment across the continent, presenting new opportunities for Kessner to expand its market presence.

NFG, with offices in Geneva, London, and Los Angeles, is a global investment firm specializing in insurance and reinsurance, financial services, asset management, energy, and real estate. The firm operates extensively across Europe, the USA, the Caribbean, Africa, and the Asia Pacific region.

This acquisition reflects a strategic enhancement of NFG’s global investment portfolio and a commitment to contributing positively to Africa’s economic development.

Keith D. Beekmeyer, Chairman and CEO of NFG, commented “NFG and its affiliated companies have deep experience operating in emerging markets and specifically, the African markets. By combining and leveraging the strengths of both Kessner and NFG, I am confident we can position Kessner as a leading provider of alternative debt solutions for companies across Africa.”

Bruno-Maurice Monny, Managing Partner of Kessner, remarked “With NFG’s resources and global reach, coupled with their anchor capital towards our new fund strategy, we are positioned to be the premier capital partner for African businesses. This partnership will enhance our ability to support and scale the region’s most promising companies.”

NFG recently announced its strategic investment from Beverly Hills, California based private equity firm, NMS Capital Group, which values NFG at approximately $2.5 billion.

About NFG SA
NFG SA is a global private investment firm specializing in private equity and structured finance investments in companies across the insurance, financial services, energy, infrastructure, and real estate sectors. NFG focuses on transformative business combinations within North America, Europe, Africa, and the Middle East, establishing a strategic international presence. NFG was originally founded by Keith Beekmeyer and Andy Bye in 2017, emerging from the insurance industry to address the financing needs of underbanked companies. The firm quickly expanded its capabilities through key acquisitions, including a dedicated reinsurance company, asset manager and a Lloyd’s insurance brokerage, enhancing its position within the sector. For more information, please visit www.nfgsa.com.

About Kessner Capital Management Ltd.

Kessner Capital Management Ltd. is an alternative investment management company focused on providing innovative investment solutions aimed at providing exposure to African markets. The firm is led by a management team with over 150 years of combined management experience. For more information, please visit www.kessner.co.uk.

NFG Media Contact
Jessica Starman
media@elev8newmedia.com

The MIL Network –

February 18, 2025
MIL-OSI United Kingdom: National Insurance: Labour should be taxing wealthy not cutting services

Source: Scottish Greens

18 Feb 2025 Economy

Labour’s National Insurance hike could do serious damage to vital services.

More in Economy

Unless Labour’s increase on Employer National Insurance Contributions is funded it could have a devastating impact on Scotland’s services, says Scottish Green co-leader Lorna Slater.

Ms Slater, who was speaking ahead of a Scottish Government debate on the increase, has urged the UK government to introduce a wealth tax which would raise far more funding while ensuring it is the best-off that are paying the most rather than causing anxiety and possibly cuts by implementing a tax increase on service providers.

Ms Slater said:

“Without full funding, this increase could do a lot of damage to vital services like health and social care as well as punishing small businesses and charities.

“There is more than enough money to ensure that services are fully funded and that everyone can have security and a good standard of living, but so much of it is being hoarded by a small number of very wealthy people.

“Labour has refused to provide clarity about how it will offset the costs it is choosing to inflict.

“It’s a cowardly move which has been done to avoid raising taxes on the richest people, including the ones who bankroll the Labour Party.

“Rather than saddling overstretched service providers with anxiety and extra costs, the Prime Minister and his chancellor should be asking the super wealthy to pay their fair share.”

Analysis from the University of Greenwich shows that a wealth tax starting at a marginal rate of 1%, rising to 5% for those with £5.7 million and above (the richest 0.5%), and 10% for those with £18.2 million (the richest 0.15%) would raise over £70 billion a year.

MIL OSI United Kingdom –

February 18, 2025
MIL-OSI: IDEX Biometrics ASA – Update on Arbitration Award

Source: GlobeNewswire (MIL-OSI)

Reference is made to the announcement by IDEX Biometrics ASA (“IDEX”) on 28 January 2025 regarding the arbitration decision on 27 January 2025 on the dispute between IDEX and Zwipe AS (“Zwipe”), whereby the arbitrator held in favor of IDEX on all counts. The due date for payments by Zwipe was 14 days from the date of the arbitration decision.

Following such due date, because of Zwipe’s financial situation, as communicated by Zwipe on Euronext Oslo Børs, IDEX has engaged in discussions with Zwipe about a payment plan for the arbitration award. However, such discussions effectively ended when Zwipe on 17 February 2025 announced that it will file for bankruptcy with the Oslo District Court.

While Zwipe has paid the arbitration costs, Zwipe has made no payment to IDEX in compliance with the arbitration award.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5 -12 of the Norwegian Securities Trading Act. This stock exchange release was published by Marianne Bøe, Head of Investor Relations, on 18 February 2025 at 08:50 CET.

For further information contact:
Marianne Bøe, Head of Investor Relations, +47 91800186
Kristian Flaten, CFO, +47 95092322
E-mail:ir@idexbiometrics.com

About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.

For more information, visit www.idexbiometrics.com

Trademark Statement
IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.

The MIL Network –

February 18, 2025
MIL-OSI Russia: We invite you to participate in the qualifying round of the VI Finathlon Forum

Translartion. Region: Russians Fedetion –

Source: State University of Management – Official website of the State –

From February 10 to March 15, 2025, registration and collection of scientific papers of students, postgraduates, young teachers on sustainable development, investments and financial risks under the age of 35 is underway to participate in the remote selection round of the VI Finathlon Forum – the International Scientific and Practical Conference of Young Scientists and Specialists in Sustainable Development, Investments and Financial Risks.

Over the years, the Forum has become a platform that unites young professionals who focus their efforts on developing and solving problems of sustainable development, investments and financial risks in the economy of Russia and neighboring countries. A unique environment has been created for exchanging opinions, discussions, building cooperation, professional communications and personal development. Leading industry experts take part in the Forum.

This year, the Forum will include more than 20 thematic sections, which will be attended by more than 400 students, young professionals and teachers from Russia and friendly countries. The works that pass the selection round will take part in the in-person final at the Conference, which will be held in Moscow on April 15, 2025. The finalists’ works will be published in the Forum’s electronic collection in the Russian Science Citation Index.

The forum was organized by the Department of State Youth Policy and Educational Activities of the Ministry of Science and Higher Education of the Russian Federation with the support of the Bank of Russia, the Ministry of Economic Development of Russia, the Ministry of Transport of Russia, and the Ministry of Natural Resources of Russia.

Details of the Forum program and registration form are available on the official Finathlon website.

Subscribe to the tg channel “Our State University” Announcement date: 02/18/2025

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

February 18, 2025
MIL-OSI: Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025 – Nykredit Realkredit A/S
Source: GlobeNewswire (MIL-OSI)

THIS ANNOUNCEMENT IS PUBLISHED PURSUANT TO SECTION 9(4) AND (5) AND SECTION 21(3) OF EXECUTIVE ORDER NO. 636 OF 15 MAY 2020

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

Publication of supplement concerning extension of offer period for Nykredit’s recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

18 February 2025

Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

In accordance with section 4(1) of the Danish Takeover Order¹, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion.

On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order.

Today, Nykredit published a supplement (the “Supplement”) to the Offer Document, which extends the Offer Period for the Offer. The Supplement has been approved by the Danish FSA on 18 February 2025 in accordance with section 9(4) and section 9(5) of the Danish Takeover Order.

Under the Offer document, the offer period is set to expire on 19 February 2025 at 23:59 (CET) (the “Initial Offer Period”).

With the Supplement, Nykredit extends the Initial Offer Period, such that the Offer will expire on 20 March 2025 at 23:59 (CET). Subsequently, any reference to the “Offer Period” in the Offer Document or other documents relating to the Offer will refer to the period commencing on the day of publication of the Offer Document on 8 January 2025 and ending on 20 March 2025 at 23:59 (the “Extended Offer Period”).

The purpose of the extension is to provide Nykredit with more time to obtain the approval from the Danish Competition and Consumer Authority required to complete the Offer. The process to obtain such approval from the Danish Competition and Consumer Authority is proceeding as planned.

If the approval from the Danish Competition and Consumer Authority has not been granted by the expiry of the Extended Offer Period, Nykredit expects to extend the Extended Offer Period further.

The extension of the Initial Offer Period entails that the expected completion of the Offer and settlement of the Offer Price to the Spar Nord Bank shareholders who have accepted the Offer will be extended correspondingly. Completion is subsequently expected to take place on 28 March 2025.

At the time of this announcement, Nykredit holds 32.44 per cent of the shares in Spar Nord Bank, and on 4 February 2025 Nykredit released an announcement to the effect that a preliminary compilation of the acceptances that Nykredit is aware of indicates that the 67 per cent acceptance limit of the Offer has been achieved. The final result of the Offer will be determined on expiry of the Offer Period and published in accordance with section 21(3) of the Danish Takeover Order.

The full terms and conditions of the Offer are contained in the Offer Document as amended by the Supplement. The Offer Document and the Supplement are published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/kobstilbud-spar-nord/ and https://www.sparnord.dk/investor-relations/overtagelsestilbud.

About Spar Nord Bank

Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.

Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.

The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.

About Nykredit

Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.

Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.

Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.

Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.

Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.

Questions and further information

Any questions concerning the Offer may be directed to:

Nykredit Bank A/S

Company reg. (CVR) no.: 10 51 96 08

Sundkrogsgade 25

2150 Nordhavn
Denmark

Telephone: +45 7010 9000

and

Carnegie Investment Bank

Filial af Carnegie Investment Bank AB (publ), Sverige

Company reg. (CVR) no. 35 52 12 67

Overgaden Neden Vandet 9 B

1414 Copenhagen K
Denmark

E-mail: annette.hansen@carnegie.dk

For further information about the Offer, please see: https://www.nykredit.com/kobstilbud-spar-nord/.

This announcement and the Offer Document (with Supplement) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with Supplement) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

Restricted jurisdictions

The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank Shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Supplement, the Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the Laws of such jurisdiction, including securities Laws. It is the responsibility of all Persons obtaining announcement, the Supplement, the Offer Document, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Supplement or the Offer Document to Shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable Law in any jurisdiction other than Denmark, the United States and the United Kingdom.

Important Information for Shareholders in the United States

The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

1 Executive Order no. 636 of 15 May 2020

Attachment
- Announcement of extension of Offer Period
The MIL Network –
February 18, 2025
MIL-OSI: Correction: Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025 – Nykredit Realkredit A/S
Source: GlobeNewswire (MIL-OSI)

THIS ANNOUNCEMENT IS PUBLISHED PURSUANT TO SECTION 9(4) AND (5) AND SECTION 21(3) OF EXECUTIVE ORDER NO. 636 OF 15 MAY 2020

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

Publication of supplement concerning extension of offer period for Nykredit’s recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

18 February 2025

Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 March 2025

In accordance with section 4(1) of the Danish Takeover Order¹, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion.

On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order.

Today, Nykredit published a supplement (the “Supplement”) to the Offer Document, which extends the Offer Period for the Offer. The Supplement has been approved by the Danish FSA on 18 February 2025 in accordance with section 9(4) and section 9(5) of the Danish Takeover Order.

Under the Offer document, the offer period is set to expire on 19 February 2025 at 23:59 (CET) (the “Initial Offer Period”).

With the Supplement, Nykredit extends the Initial Offer Period, such that the Offer will expire on 20 March 2025 at 23:59 (CET). Subsequently, any reference to the “Offer Period” in the Offer Document or other documents relating to the Offer will refer to the period commencing on the day of publication of the Offer Document on 8 January 2025 and ending on 20 March 2025 at 23:59 (the “Extended Offer Period”).

The purpose of the extension is to provide Nykredit with more time to obtain the approval from the Danish Competition and Consumer Authority required to complete the Offer. The process to obtain such approval from the Danish Competition and Consumer Authority is proceeding as planned.

If the approval from the Danish Competition and Consumer Authority has not been granted by the expiry of the Extended Offer Period, Nykredit expects to extend the Extended Offer Period further.

The extension of the Initial Offer Period entails that the expected completion of the Offer and settlement of the Offer Price to the Spar Nord Bank shareholders who have accepted the Offer will be extended correspondingly. Completion is subsequently expected to take place on 28 March 2025.

At the time of this announcement, Nykredit holds 32.44 per cent of the shares in Spar Nord Bank, and on 4 February 2025 Nykredit released an announcement to the effect that a preliminary compilation of the acceptances that Nykredit is aware of indicates that the 67 per cent acceptance limit of the Offer has been achieved. The final result of the Offer will be determined on expiry of the Offer Period and published in accordance with section 21(3) of the Danish Takeover Order.

The full terms and conditions of the Offer are contained in the Offer Document as amended by the Supplement. The Offer Document and the Supplement are published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/kobstilbud-spar-nord/ and https://www.sparnord.dk/investor-relations/overtagelsestilbud.

About Spar Nord Bank

Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.

Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.

The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.

About Nykredit

Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.

Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.

Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.

Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.

Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.

Questions and further information

Any questions concerning the Offer may be directed to:

Nykredit Bank A/S

Company reg. (CVR) no.: 10 51 96 08

Sundkrogsgade 25

2150 Nordhavn
Denmark

Telephone: +45 7010 9000

and

Carnegie Investment Bank

Filial af Carnegie Investment Bank AB (publ), Sverige

Company reg. (CVR) no. 35 52 12 67

Overgaden Neden Vandet 9 B

1414 Copenhagen K
Denmark

E-mail: annette.hansen@carnegie.dk

For further information about the Offer, please see: https://www.nykredit.com/kobstilbud-spar-nord/.

This announcement and the Offer Document (with Supplement) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with Supplement) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

Restricted jurisdictions

The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank Shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Supplement, the Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the Laws of such jurisdiction, including securities Laws. It is the responsibility of all Persons obtaining announcement, the Supplement, the Offer Document, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Supplement or the Offer Document to Shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable Law in any jurisdiction other than Denmark, the United States and the United Kingdom.

Important Information for Shareholders in the United States

The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

1 Executive Order no. 636 of 15 May 2020

Attachments
- Announcement of extension of Offer Period
- Supplement to the Offer Document
The MIL Network –
February 18, 2025
MIL-OSI: Stopping Cloud Attacks at the Source: Check Point Software Leads the Charge in Cloud Security, Championing a Prevention-First Approach
Source: GlobeNewswire (MIL-OSI)

BANGKOK, Feb. 18, 2025 (GLOBE NEWSWIRE) — CPX APAC– Check Point Software Technologies Ltd. (NASDAQ: CHKP), a pioneer and global leader of cyber security solutions, today announced that its Check Point CloudGuard solution has been recognized as a Leader across three key GigaOm Radar reports: Application & API Security, Cloud Network Security, and Cloud Workload Security. The reports highlight Check Point’s platform unification, prevention-first approach, and AI-powered threat prevention as key differentiators in the rapidly evolving cloud security landscape.

Check Point: Leading the Future of Cloud Security
In our interconnected world, managing and securing multiple cloud environments is a daunting task. Check Point CloudGuard provides automated, AI-powered protection, making cloud management easier while ensuring the safety of workloads, applications, and data. Howard Holton, Chief Operating Officer at GigaOm, stresses, “Cloud and API security is crucial for every organization in 2025.” He further highlights that, “Check Point’s Infinity platform, along with its extensive range of cloud protections, is vital for any organization looking to protect its assets.”

“We’re proud to be recognized for our holistic approach to cloud security, combining cloud network security, workload protection, and posture management into a truly unified framework,” said Paul Barbosa, VP of Cloud Security at Check Point Software Technologies. “Our leadership across these categories validates our continued innovation as we drive forward one of the industry’s most comprehensive cloud security platforms.”

AI-Enhanced WAF & API Security: Leading the Market in Advanced Threat Prevention
GigaOm positioned Check Point as a Leader in Application & API Security, citing its innovative dual-layer AI approach that enhances detection and prevention capabilities. Key strengths include:
- AI-driven vulnerability detection, delivering highly accurate threat identification with minimal false positives
- Real-time threat detection and response, offering unmatched insight into security incidents by providing comprehensive logging and reporting
- Data leak protection that automatically learns application schemas and enforces content rules while providing comprehensive DLP.
Cloud Network Security: Real-Time, Dynamic Protection Across Multi-Cloud Environments
Check Point CloudGuard earned recognition for its capability to gather and analyze data from all major cloud providers, enabling the implementation of adaptive security measures instantly. Other notable features include:
- Extensive hybrid-cloud support, ensuring uniform security policies across both public and private clouds
- Rapid innovation pipeline, with multiple major releases annually, ensuring the latest defenses against emerging cloud threats
- Automated security policy adaptation, allowing security teams to respond to cloud environment changes without manual intervention
Cloud Workload Security: Full-Stack Protection for Enterprise Cloud Environments
In the Cloud Workload Security report, CloudGuard received recognition for its comprehensive security strategy. Check Point recently announced strategic partnership with Wiz, a top CNAPP (Cloud Native Application Protection Platform) provider, also highlighted as a Leader in this GigaOm report. This collaboration will allow Check Point and Wiz to leverage their combined strengths in the following areas:
- Hybrid environment, support provides seamless security with a multilayered approach across physical, virtual, and cloud environments
- Workload detection and response, to preemptively identify and mitigate attacks before they impact business operations
- Automated configuration enforcement, ensuring security and compliance are embedded before workloads go live in cloud environments.
For additional details about Check Point’s acknowledgment in GigaOm’s Radar reports and to obtain a free copy of the report, please visit the following links:

GigaOm Radar for Web Application Firewall (WAF) & API Security
GigaOm Radar for Cloud Network Security
GigaOm Radar for Cloud Workload Security

Follow Check Point via:
LinkedIn: https://www.linkedin.com/company/check-point-software-technologies
Twitter: https://www.twitter.com/checkpointsw
Facebook: https://www.facebook.com/checkpointsoftware
Blog: https://blog.checkpoint.com
YouTube: https://www.youtube.com/user/CPGlobal

About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading AI-powered, cloud-delivered cyber security platform provider protecting over 100,000 organizations worldwide. Check Point leverages the power of AI everywhere to enhance cyber security efficiency and accuracy through its Infinity Platform, with industry-leading catch rates enabling proactive threat anticipation and smarter, faster response times. The comprehensive platform includes cloud-delivered technologies consisting of Check Point Harmony to secure the workspace, Check Point CloudGuard to secure the cloud, Check Point Quantum to secure the network, and Check Point Infinity Platform Services for collaborative security operations and services.

Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, statements related to our expectations regarding future growth, the expansion of Check Point’s industry leadership, the enhancement of shareholder value and the delivery of an industry-leading cyber security platform to customers worldwide. Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 2, 2024. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law.

The MIL Network –
February 18, 2025

MIL-OSI: Full-year 2024 results

Source: GlobeNewswire (MIL-OSI)

Media relations:
Victoire Grux
Tel.: +33 6 04 52 16 55
victoire.grux@capgemini.com

Investor relations:
Vincent Biraud
Tel.: +33 1 47 54 50 87
vincent.biraud@capgemini.com

Full-year 2024 results

Revenues of €22,096 million in 2024, down -1.9%
Revenue growth at constant exchange rates* of -2.0% for the full year, and -1.1% in Q4
Bookings at €23.8 billion with a 1.08 book-to-bill
Stable operating margin*, at 13.3% of revenues
Net profit, Group share, up +0.5% and basic earnings per share up +1.2%
Organic free cash flow0F^*of €1,961 million
Proposed dividend of €3.40 per share

Paris, February 18, 2025 – The Board of Directors of Capgemini SE, chaired by Paul Hermelin, convened on February 17 in Paris to review and adopt the accounts1F¹ of the Capgemini Group for the year-ended December 31, 2024.

Aiman Ezzat, Chief Executive Officer of the Capgemini Group, said: “Our performance in the fourth quarter is in line with expectations. As anticipated, Manufacturing and France experienced strong headwinds, whereas we saw an improvement in Financial Services and Consumer Goods & Retail, as well as a robust Public Sector.

The Group demonstrated strong resilience in 2024, maintaining its operating margin and free cash flow generation, thanks to the growth of its high value-added offerings as well as its ecosystem of leading technology partners.

Client demand continues to be driven by efficiency, operational agility and cost-optimization programs which are driving traction for our Cloud and Data & AI services. The Group is recognized as a global leader in AI by market analysts, reflecting our continued investments. Generative AI supported strong bookings and accounted for around 5% of bookings in Q4. The acquisition of Syniti strengthens the Group’s data-driven digital transformation capabilities.

Our clients keep showing a strong appetite for technology and recognize the value we bring as their trusted business and technology transformation partner. However, we remain cautious in this uncertain environment, notably around Manufacturing and Europe, and expect H1 2025 constant currency revenue growth to remain in the same range as in Q4 2024. We will continue to demonstrate in 2025 the strength of our positioning and the resilience of our operating model, with growth as a priority.”

KEY FIGURES

(in millions of euros)	2023	2024	*Change*
Revenues	22,522	22,096	-1.9%
Operating margin*	2,991	2,934	-1.9%
as a % of revenues	13.3%	13.3%	0pt
Operating profit	2,346	2,356	+0.4%
as a % of revenues	10.4%	10.7%	+0.3pts
Net profit (Group share)	1,663	1,671	+0.5%
Basic earnings per share (€)	9.70	9.82	+1.2%
Normalized earnings per share (€)*	12.44	12.23	-1.7%
Organic free cash flow^*	1,963	1,961	-€ 2m
Net cash / (Net debt)*	(2,047)	(2,107)

In an environment that proved weaker than initially anticipated, Capgemini demonstrated in 2024 the resilience of its operating model and its leadership on AI and Generative AI. Clients focused on driving efficiency, prioritizing operational agility and cost optimization while discretionary spend remained soft. This environment has fueled a strong demand for transformation programs which translated into continued traction for Capgemini’s Cloud, Data & AI services as well as its innovative offerings, most notably in intelligent supply chain, digital core and generative AI projects. This is contributing to the continuous improvement of the portfolio mix toward innovation and enhanced client value creation.

Capgemini reported revenues of €22,096 million in 2024, down -1.9% year-on-year. Constant currency growth* was -2.0%, at the top end of the outlook as revised in October 2024. Organic growth* (i.e., excluding the impact of currency fluctuations and changes in Group scope) was -2.4%. After bottoming out in Q1, revenue trends gradually improved through the year with a revenue decline limited to -1.1% at constant currency and -1.5% organically in Q4.

With bookings of €23,821 million in 2024 and €6,806 million in Q4, the Group maintained a strong commercial momentum despite client decision cycles that remain long, achieving a solid book-to-bill of 1.08 for the year, and 1.22 in Q4. When compared to 2023 bookings, this represents, at constant exchange rates, a decrease of -0.5% for the year and an increase of +1.9% in Q4. Generative AI bookings amounted to close to 4% of Group bookings for the year and around 5% for Q4.

The ongoing shift in Capgemini’s offerings portfolio towards higher value services, coupled with enhanced operational efficiency, generated a 50 basis points increase in gross margin to 27.4% of revenues, reflecting the resilience of its operating model. This enabled the Group to absorb the incremental investment in selling efforts aimed at driving future growth and offset the slight increase in G&A expenses.

Consequently, the operating margin* was stable at 13.3% of revenues, or €2,934 million, in line with the operating margin target set for 2024.

Other operating income and expenses was a net expense of €578 million, down €67 million year-on-year. This decrease is mainly attributable to lower restructuring charges, which decreased by €55 million.

Capgemini’s operating profit was €2,356 million, or 10.7% of revenues, compared with €2,346 million, or 10.4% of revenues in 2023.

Capgemini reported a net financial income of €13 million in 2024, compared to a net expense of €42 million in 2023, reflecting higher interest income.

The income tax expense was €681 million, up from €626 million last year. This represents an increase in the effective tax rate from 27.2% in 2023 to 28.8% this year.

Taking into account the share of profits of associates and non-controlling interests, the Group share in net profit rose by +0.5% year-on-year to €1,671 million. Basic earnings per share increased by +1.2% to €9.82. Normalized earnings per share* was €12.23, compared with €12.44 in 2023.

Organic free cash flow* generation remained strong at €1,961 million, in line with the 2024 target and the previous year despite lower revenues.

CAPITAL ALLOCATION & BALANCE SHEET

In 2024, Capgemini actively redeployed close to €2.0 billion of capital, essentially funded by the organic free cash flow of the year. Capgemini invested €827 million in acquisitions. The Group also paid dividends of €580 million (€3.40 per share) to Capgemini SE shareholders and allocated €972 million to share buybacks: €498 million on its multiyear program and €474 million to neutralize the dilution of the 11^th employee share ownership plan (ESOP). This ESOP plan, which proved highly successful and thus contributed to maintaining employee shareholding at around 8% of the share capital, led to a gross capital increase of €415 million.

In October 2024, the Group also redeemed in full and at maturity its €600 million bond issued in April 2018.

At December 31, 2024, the Group had cash, cash equivalents and cash management assets of €3.1 billion. After accounting for borrowings of €5.1 billion as well as for derivative instruments, Group net debt* is €2.1 billion, slightly up compared with €2.0 billion at December 31, 2023.

The Board of Directors decided to recommend the payment of a dividend of €3.40 per share at the Shareholders’ Meeting of May 7, 2025. The corresponding payout ratio is 35% of net profit (Group share), in line with the Group’s historical distribution policy.

OPERATIONS BY REGION

At constant exchange rates, revenues in North America (28% of Group revenues) decreased by -4.1% with improving trends in H2. The Financial Services, Consumer Goods & Retail and Telco, Media & Technology (TMT) sectors were the main drivers of improvement. In contrast, the Manufacturing and Public sectors slowed down in H2. The operating margin increased to 16.5%, from 15.6% in 2023.

The United Kingdom and Ireland region (12% of Group revenues) remained resilient, posting a -1.0% decline in revenue primarily driven by the contraction of the Consumer Goods & Retail sector. The region’s return to growth in H2 was driven by the recovery in Financial Services and the continued strength in the Energy & Utilities sector. The operating margin reached 19.7% compared with 18.6% in 2023.

France (20% of Group revenues) revenues decreased by -3.5%, in an environment that led to a visible degradation in H2. This evolution was mostly driven by the contraction of the Manufacturing sector. However, as in most regions, Financial Services visibly improved through the year. The operating margin contracted from 12.6% to 10.2%.

In the Rest of Europe region (31% of Group revenues), revenues stood at +0.1% with solid Public and Energy & Utilities sectors and Financial Services returning to growth. The Manufacturing sector also negatively weighed on activity in the region. The operating margin was 12.0%, slightly up from 11.7% a year earlier.

Finally, revenues in the Asia-Pacific and Latin America region (9% of Group revenues) were slightly down
-0.3% driven by a slower Financial Services sector in Asia-Pacific. However, the Public Sector in Asia-Pacific and the Consumer Goods & Retail sector in Latin America, both enjoyed double-digit growth rates. The operating margin slightly improved to 12.4% compared with 12.2% the year before.

OPERATIONS BY BUSINESS

At constant exchange rates, Strategy & Transformation consulting services (9% of Group revenues) reported +3.2% growth in total revenues* in 2024. This continued momentum illustrates the strength of the Group’s positioning as a strategic partner to its clients.

Applications & Technology services (62% of Group revenues and Capgemini’s core business) reported
a -2.1% decrease in total revenues.

Finally, Operations & Engineering services total revenues (29% of Group revenues) decreased -2.1%.

OPERATIONS IN Q4 2024

Q4 was the third consecutive quarter of gradual improvement in growth rate. As expected, the Financial Services and Consumer Goods & Retail sectors saw an acceleration and TMT returned to growth. This was offset by the slowdown in Manufacturing.

Geographically, growth rates improved substantially in North America, but also the United Kingdom and Ireland, Asia-Pacific and Latin America, but slowed down visibly in France.

Group revenues totaled €5,581 million in Q4 2024, a decline of -1.1% year-on-year at constant exchanges rate and -1.5% organically. This decline in revenue can be solely attributable to -6.1% slowdown in Manufacturing.

At constant exchange rates, the decline in revenues in the North America region was limited to -1.6%, with the growth in Financial Services, Consumer Good & Retail and TMT, more than offset by the weakness in the Manufacturing and Energy & Utilities sectors. Revenues in the United Kingdom and Ireland region grew +1.5%, supported by the good performance of the Energy & Utilities and Manufacturing sectors and to a lesser extent the growth in Financial Services. In France, the weakness in the Manufacturing, Consumer Goods & Retail and Energy & Utilities sectors led the revenue to decline -5.8%. Revenues in the Rest of Europe region were stable (+0.1%), driven by robust activity in the Public, Energy & Utilities and Financial Services sectors that offset the decline in the Manufacturing sector. Finally, revenues in the Asia-Pacific and Latin America region grew by +4.6% supported by the visible recovery in the Financial Services and Consumer Goods & Retail sectors, more than offsetting the weak Manufacturing and Energy & Utilities sectors.

HEADCOUNT

At December 31, 2024, the Group’s total headcount stood at 341,100, slightly up by +0.2% year-on-year and +0.7% compared to the end of September 2024.

The onshore workforce decreased by -1.1% at 144,200 employees, while the offshore workforce was up by +1.2% to 196,900 employees, i.e., 58% of the total headcount.

ESG PERFORMANCE

In 2024, Capgemini demonstrated continued leadership in corporate responsibility by making significant advancements aligned with its ESG (Environment, Social and Governance) policy and commitments.

From an environmental standpoint, Capgemini set ambitious near-term (2030) and long-term (2040) carbon reduction targets in 2022, including a 90% reduction in all emissions (Scope 1, 2 and 3) by 2040 to reach its “net zero emissions” targets as validated by the SBTi (Science-Based Targets initiative). At the end of 2024, the Group had reduced its absolute emissions (Scope 1, 2 and 3) by 35% compared to 2019. Reflecting the commitment to 100% renewable electricity (RE100) by 2025, Capgemini’s scope 1 and 2 emissions have decreased by 93% since 2019. The share of renewable energy in the Group’s electricity consumption reached 98% last year up from 96% in 2023.

In human capital development, Capgemini continued to invest in its talent in 2024. The average number of learning hours per employee trained reached 77 hours last year, significantly up notably with the expansion of the generative AI training program.

The Group also made notable progress in gender balance, nearing its global objective of 40% by 2025. By the end of 2024, women comprised 39.7% of the total workforce, up by almost 1 point year-on-year and almost 7 points since 2019. The proportion of women among executive leadership positions globally reached 29.0%, up by almost 3 points year-on-year and more than 12 points since 2019.

The scale of impact through digital inclusion initiatives also extended greatly in 2024. Overall, the Group’s various programs and partnerships with leading non-profit organizations benefited almost 3.2 million individuals in 2024.

In recognition of this continued progress, the Group was confirmed as a constituent of the Dow Jones Sustainability Index (DJSI) Europe and maintained its position on the “A list” in the 2024 CDP (Carbon Disclosure Project) assessment.

OUTLOOK

The Group’s financial targets for 2025 are:

Revenue growth of -2.0% to +2.0% at constant currency;
Operating margin of 13.3% to 13.5%;
Organic free cash flow of around €1.9 billion.

CONFERENCE CALL

Aiman Ezzat, Chief Executive Officer, accompanied by Nive Bhagat, Chief Financial Officer, will comment on this publication during a conference call in English to be held today at 8.00 a.m. Paris time (CET). You can follow this conference call live via webcast at the following link. A replay will also be available for a period of one year.

All documents relating to this publication will be posted on the Capgemini investor website at https://investors.capgemini.com/en/.

PROVISIONAL CALENDAR

April 29, 2025        Q1 2025 revenues
May 7, 2025        Shareholders’ meeting
July 30, 2025        H1 2025 results
October 28, 2025        Q3 2025 revenues

The dividend payment schedule to be submitted to the Shareholders’ Meeting for approval would be:

May 20, 2025 Ex-dividend date on Euronext Paris
May 22, 2025 Payment of the dividend

DISCLAIMER

This press release may contain forward-looking statements. Such statements may include projections, estimates, assumptions, statements regarding plans, objectives, intentions and/or expectations with respect to future financial results, events, operations and services and product development, as well as statements, regarding future performance or events. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “projects”, “may”, “would”, “should” or the negatives of these terms and similar expressions. Although Capgemini’s management currently believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking statements are subject to various risks and uncertainties (including, without limitation, risks identified in Capgemini’s Universal Registration Document available on Capgemini’s website), because they relate to future events and depend on future circumstances that may or may not occur and may be different from those anticipated, many of which are difficult to predict and generally beyond the control of Capgemini. Actual results and developments may differ materially from those expressed in, implied by or projected by forward-looking statements. Forward-looking statements are not intended to and do not give any assurances or comfort as to future events or results. Other than as required by applicable law, Capgemini does not undertake any obligation to update or revise any forward-looking statement.

This press release does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction.

ABOUT CAPGEMINI

Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.

Get the Future You Want | www.capgemini.com

* *

APPENDIX3F²

BUSINESS CLASSIFICATION

Strategy & Transformation includes all strategy, innovation and transformation consulting services.
Applications & Technology brings together “Application Services” and related activities and notably local technology services.
- Operations & Engineering encompasses all other Group businesses. These comprise Business Services (including Business Process Outsourcing and transaction services), all Infrastructure and Cloud services, and R&D and Engineering services.

DEFINITIONS

Organic growth or like-for-like growth in revenues is the growth rate calculated at constant Group scope and exchange rates. The Group scope and exchange rates used are those for the reported period. Exchange rates for the reported period are also used to calculate growth at constant exchange rates.

Reconciliation of growth rates	Q1 2024	Q2 2024	Q3 2024	Q4 2024	FY 2024
Organic growth	-3.6%	-2.3%	-2.1%	-1.5%	-2.4%
Changes in Group scope	+0.3 pts	+0.4 pts	+0.5 pts	+0.4 pts	+0.4 pts
Growth at constant exchange rates	-3.3%	-1.9%	-1.6%	-1.1%	-2.0%
Exchange rate fluctuations	-0.2 pts	+0.4 pts	-0.3 pts	+0.5 pts	+0.1 pts
Reported growth	-3.5%	-1.5%	-1.9%	-0.6%	-1.9%

When determining activity trends by business and in accordance with internal operating performance measures, growth at constant exchange rates is calculated based on total revenues, i.e., before elimination of inter-business billing. The Group considers this to be more representative of activity levels by business. As its businesses change, an increasing number of contracts require a range of business expertise for delivery, leading to a rise in inter-business flows.

Operating margin is one of the Group’s key performance indicators. It is defined as the difference between revenues and operating costs. It is calculated before “Other operating income and expenses” which include amortization of intangible assets recognized in business combinations, expenses relative to share-based compensation (including social security contributions and employer contributions) and employee share ownership plan, and non-recurring revenues and expenses, notably impairment of goodwill, negative goodwill, capital gains or losses on disposals of consolidated companies or businesses, restructuring costs incurred under a detailed formal plan approved by the Group’s management, the cost of acquiring and integrating companies acquired by the Group, including earn-outs comprising conditions of presence, and the effects of curtailments, settlements and transfers of defined benefit pension plans.

Normalized net profit is equal to profit for the year (Group share) adjusted for the impact of items recognized in “Other operating income and expense”, net of tax calculated using the effective tax rate. Normalized earnings per share is computed like basic earnings per share, i.e., excluding dilution.

Organic free cash flow is equal to cash flow from operations less acquisitions of property, plant, equipment and intangible assets (net of disposals) and repayments of lease liabilities, adjusted for cash out relating to the net interest cost.

Net debt (or net cash) comprises (i) cash and cash equivalents, as presented in the Consolidated Statement of Cash Flows (consisting of short-term investments and cash at bank) less bank overdrafts, and also including (ii) cash management assets (assets presented separately in the Consolidated Statement of Financial Position due to their characteristics), less (iii) short- and long-term borrowings. Account is also taken of (iv) the impact of hedging instruments when these relate to borrowings, intercompany loans, and own shares.

RESULTS BY REGION

	Revenues	Year-on-year growth		Operating margin rate
	2024 (in millions of euros)	reported	at constant exchange rates	2023	2024
North America	6,188	-4.2%	-4.1%	15.6%	16.5%
United Kingdom and Ireland	2,753	+1.6%	-1.0%	18.6%	19.7%
France	4,380	-3.5%	-3.5%	12.6%	10.2%
Rest of Europe	6,851	+0.2%	+0.1%	11.7%	12.0%
Asia-Pacific and Latin America	1,924	-2.6%	-0.3%	12.2%	12.4%
TOTAL	22,096	-1.9%	-2.0%	13.3%	13.3%

RESULTS BY BUSINESS

	Total revenues*	Year-on-year growth
	2024 (% of Group revenues)	At constant exchange rates in Total revenues* of the business
Strategy & Transformation	9%	+3.2%
Applications & Technology	62%	-2.1%
Operations & Engineering	29%	-2.1%

SUMMARY INCOME STATEMENT AND OPERATING MARGIN

(in millions of euros)	2023	2024	*Change*
Revenues	22,522	22,096	-1.9%
Operating expenses	(19,531)	(19,162)
Operating margin	2,991	2,934	-1.9%
as a % of revenues	13.3%	13.3%	0bp
Other operating income and expenses	(645)	(578)
Operating profit	2,346	2,356	+0.4%
as a % of revenues	10.4%	10.7%	+30bp
Net financial expenses	(42)	13
Income tax income/(expense)	(626)	(681)
Share of profit of associates and joint-ventures	(10)	(11)
(-) Non-controlling interests	(5)	(6)
Profit for the period, Group share	1,663	1,671	+0.5%

NORMALIZED AND DILUTED EARNINGS PER SHARE

(in millions of euros)	2023	2024	*Change*
Average number of shares outstanding	171,350,138	170,201,409	-0.7%
BASIC EARNINGS PER SHARE (in euros)	9.70	9.82	+1.2%
Diluted average number of shares outstanding	177,396,346	176,375,256
DILUTED EARNINGS PER SHARE (in euros)	9.37	9.47	+1.1%

(in millions of euros)	2023	2024	*Change*
Profit for the period, Group share	1,663	1,671	+0.5%
Effective tax rate	27.2%	28.8%
(-) Other operating income and expenses, net of tax	469	412
Normalized profit for the period	2,132	2,083	-2.3%
Average number of shares outstanding	171,350,138	170,201,409	-0.7%
NORMALIZED EARNINGS PER SHARE (in euros)	12.44	12.23	-1.7%

CHANGE IN CASH AND CASH EQUIVALENTS AND ORGANIC FREE CASH FLOW

(in millions of euros)	2023	2024
Net cash from operating activities	2,525	2,526
Acquisitions of property, plant and equipment and intangible assets, net of disposals	(254)	(310)
Net interest cost	(11)	37
Repayments of lease liabilities	(297)	(292)
ORGANIC FREE CASH FLOW	1,963	1,961
Other cash flows from (used in) investing and financing activities	(2,126)	(2,788)
Increase (decrease) in cash and cash equivalents	(163)	(827)
Effect of exchange rate fluctuations	(115)	97
Opening cash and cash equivalents	3,795	3,517
Closing cash and cash equivalents	3,517	2,787

NET DEBT

(in millions of euros)	December 31, 2023	December 31, 2024
Cash and cash equivalents	3,536	2,789
Bank overdrafts	(19)	(2)
Cash and cash equivalents	3,517	2,787
Cash management assets	161	268
Long-term borrowings	(5,071)	(4,281)
Short-term borrowings and bank overdrafts	(675)	(863)
(-) Bank overdrafts	19	2
Borrowings, excluding bank overdrafts	(5,727)	(5,142)
Derivative instruments	2	(20)
NET CASH / (NET DEBT)	(2,047)	(2,107)

ESG PERFORMANCE

	Objectives	Key Performance Indicators	2019 (baseline)	2023	2024	Change vs. 2019	2025 Objective	2030 Objective (vs 2019)
Environment	Be carbon neutral for our own operations no later than 2025 and across our supply chain by 2030, and committed to becoming a net zero business by 2040	Scope 1 & 2 – Absolute emissions (ktCO₂e)	154.1	13.6	11.2	-93%		-80%
		Scope 3 – Employee commuting emissions per headcount (tCO₂e/head)	1.08	0.50	0.55	-49%		-55%
		Scope 3 – Business travel emissions per headcount (tCO₂e/head)	1.26	0.50	0.48	-62%		-55%
		Scope 3 – Purchased goods and services (ktCO₂e)	305.7	352.1	301.5	-1%		-50%
	Transition to 100% renewable electricity by 2025, and electric vehicles by 2030	% of electricity from renewables	28%	96%	98%	+70pts	100%
Social	Increase average learning hours per employee by 5% every year to ensure regular lifelong learning	Average Completed Learning Hours per headcount trained during the reporting period	41.9	53.8	77.4	+85%
	40% of women in our teams by 2025	% of women in the workforce	33.0%	38.8%	39.7%	+6.7pts	40%
	5m beneficiaries supported by our digital inclusion programs by 2030	Cumulated number of beneficiaries since 2018	29,012	4.4m	7.5m			5m
Governance	30% of women in Group executive leadership positions in 2025	% of women in Group executive leadership positions	16.8%	26.2%	29.0%	+12.2pts	30%
	Maintain over 80% of the workforce with an Ethics score of 7-10	% of the headcount with an Ethics score of 7-10		86%	85%		>80%	>80%
	Be recognized as a front leader in data protection and cybersecurity	Cyber Rating agencies – CyberVadis score		958	977		940-950 out of 1,000
		DPO certification		72%	76%		95%

Note: in the table above, 2024 data may include some estimates and some historical data points have been restated to ensure comparability.

¹ Audit procedures on the consolidated financial statements have been completed. The auditors are in the process of issuing their report.
² Note that in the appendix, certain totals may not equal the sum of amounts due to rounding adjustments.

Attachments

The MIL Network –

February 18, 2025

MIL-OSI: WISeKey Announces Holistic Technology Consolidation for Digital Trust Leadership

Source: GlobeNewswire (MIL-OSI)

WISeKey Announces Holistic Technology Consolidation for Digital Trust Leadership

Geneva, Switzerland, February 18, 2025 –WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announces the consolidation of its advanced technologies into a unified ecosystem, aiming to enhance security, interoperability, and innovation. This initiative integrates AI, quantum-resistant cryptography, blockchain, and IoT security to ensure holistic digital trust across industries.

Specifically, WISeKey is integrating:

WISeID is advancing digital identity solutions by incorporating AI-driven behavioral and post-quantum cryptographic algorithms for enhanced authentication. The platform ensures secure and seamless identity verification for individuals, enterprises, and governments, leveraging blockchain and AI to offer a decentralized identity framework resistant to cyber threats.
SEALSQ (Nasdaq: LAES) is embedding quantum-resistant chips into WISeKey’s digital identity and IoT security solutions, fortifying data protection. The deployment of post-quantum cryptographic microcontrollers ensures long-term security against emerging quantum threats, positioning SEALSQ at the forefront of semiconductor innovation. Additionally, SEALSQ’s AI-driven predictive security mechanisms enhance threat intelligence, providing real-time responses to cyber vulnerabilities. SEALSQ Quantum Roadmap is designed to invest in quantum related companies expanding its quantum positioning
OISTE RootKey is expanding trust models through blockchain-based root-of-trust systems, reinforcing the Company’s role as a global trust anchor. This ensures that digital identities, transactions, and communications remain protected against unauthorized access and cyber fraud, enhancing the overall trustworthiness of WISeKey’s security architecture.
WISeSat is securing satellite-based communications with post-quantum cryptographic security, addressing the growing need for secure IoT communications. With an increasing number of IoT devices relying on satellite infrastructure, WISeSat integrates quantum-resistant key exchange mechanisms to prevent unauthorized access and data breaches in remote and critical infrastructure applications.
WISeCoin is transforming blockchain-based financial transactions, ensuring fraud-proof, tokenized markets. The use of AI-driven fraud detection systems, coupled with secure digital identity and data verification, enhances the integrity of financial transactions, reducing risks associated with identity theft and cybercrime in digital finance.
SEALCOIN platform is designed to create a secure, decentralized platform for IoT, enabling real-time peer-to-peer transactions and data exchanges through the TIOT token. SEALCOIN platform empowers devices to operate independently and securely in a trusted ecosystem, driving innovation and efficiency.
WISeArt is pioneering AI and blockchain technology to authenticate and protect digital and physical art assets, mitigating risks of forgery and fraud. The platform ensures traceability and verification of ownership, allowing for secure art tokenization and digital rights management.
WISeAi.IO is the latest addition to WISeKey’s technology stack, revolutionizing AI-driven cybersecurity and identity protection. WISeAi.IO harnesses machine learning models to detect anomalies in real time, predict cyber threats, and automate security protocols. Integrated with WISeID, SEALSQ, and WISeSat, WISeAi.IO enhances cybersecurity resilience by identifying potential threats before they manifest, ensuring proactive security management across WISeKey’s ecosystem.

WISeKey’s long-term strategy includes substantial investments in AI and Quantum Computing. AI-powered cybersecurity solutions are being developed to predict and prevent cyber threats, while quantum-resistant cryptography is safeguarding digital assets from future quantum computing risks. Self-sovereign digital identity solutions will integrate AI to enhance authentication mechanisms, and blockchain will ensure secure AI model verification to prevent manipulation and breaches.

To accelerate technology adoption and market leadership, WISeKey has actively pursued strategic acquisitions and partnerships. Specifically, WISeKey has:

Acquired AI-driven cybersecurity technology to enhance its predictive threat detection capabilities.
Collaborated with quantum computing startups to strengthen its expertise in post-quantum security.
Established joint ventures with space technology providers to expand secure satellite-based communications.
Partnered with digital asset firms to enhance blockchain-based identity verification and create a robust, decentralized digital economy.

Carlos Moreira, Founder and CEO of WISeKey, emphasizing the strategic importance of this consolidation, noted, “By unifying our technologies into a comprehensive digital trust ecosystem, WISeKey is reinforcing its position as a global leader in cybersecurity. The integration of AI, quantum computing, and blockchain ensures we are prepared for the challenges of the digital future. We are delivering future-ready solutions that protect individuals, enterprises, and governments worldwide.”

SEALSQ, together with WISeKey, boasts a rich portfolio of over 46 patent families encompassing more than 100 fundamental individual patents https://www.sealsq.com/investors/news-releases/sealsq-expands-protection-of-luxury-and-valuable-assets-with-patented-advanced-digital-certification-and-nft-technology.

For further information, please visit www.wisekey.com.

About WISeKey

WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

Press and Investor Contacts

WISeKey International Holding Ltd
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
info@wisekey.com

WISeKey Investor Relations (US)
The Equity Group Inc.
Lena Cati
Tel: +1 212 836-9611
lcati@equityny.com

The MIL Network –

February 18, 2025

MIL-OSI: LHV Group results in January 2025
Source: GlobeNewswire (MIL-OSI)

After a strong end to year, January’s results, as is customary for the season, were more modest in terms of results for LHV. The consolidated loan portfolio of LHV Group decreased by EUR 8 million in January, and the total volume of clients’ deposits decreased by EUR 15 million. The volume of the funds managed by LHV decreased by EUR 10 million. A total of 6.6 million payments related to financial intermediaries were made over the month.

In January, AS LHV Group earned EUR 9 million in consolidated net profit. Among the subsidiaries, the net profit of AS LHV Pank was EUR 6.9 million, while LHV Bank Ltd earned EUR 1.4 million in net profit, AS LHV Varahaldus EUR 363 thousand, and AS LHV Kindlustus EUR 249 thousand. The financial plan, which was disclosed in February, remains.

The loan portfolio of LHV Pank decreased by EUR 23 million, with retail loans increasing by EUR 27 million; however, corporate loans decreased by EUR 50 million due to the planned loan repayment of one client. Although credit quality generally remained strong, the result for the month was affected this time by a short-term increase in write-downs due to a decrease in the rating of one client. The decline in the total volume of deposits of EUR 11 million was due to a decrease in the deposits of regular clients by EUR 78 million, as the deposits of financial intermediaries increased.

LHV Pank added 4,000 clients to its ranks in January. At the beginning of the year, the research company Dive declared LHV Pank the bank with the best service in Estonia for the ninth time, both in terms of phone calls and visits to a bank branch.

The volume of loans from LHV Bank, which operates in the United Kingdom, continued to rise, as the portfolio grew by EUR 16 million in January, while the amount of approved but not yet issued loans rose to EUR 186 million. Additional deposits in the amount of EUR 25 million were raised from deposit platforms. By the end of January, the first 100 retail clients had opened an account with LHV Bank, and work continues to supplement the offer intended for retail customers. The net income of the Bank was higher than planned in January, due to the increased revenues from the financial intermediaries business line.

For LHV Varahaldus, the year started with good results. Pension funds M, L, and XL increased by 1.8%, 2.6%, and 3.7%, respectively, over the month. Indeks increased by 3.7% and Roheline 1.3%. Conservative funds S and XS increased by 1.2% and 0.7%, respectively. In January, LHV Varahaldus launched a new LHV Euro Bond Fund available to all retail investors, the units of which were subscribed for in the initial public offering by more than 1,000 investors worth EUR 9.6 million.

In January, clients entered into 17,500 new insurance agreements with LHV Kindlustus in the volume of EUR 6.6 million. Sales results were excellent in vehicle insurance products, home insurance, and travel insurance. Losses were compensated in the amount of EUR 2 million. All in all, the first month of the year was profitable for LHV Kindlustus.

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

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,200 people. As at the end of January, LHV’s banking services are being used by 460,000 clients, the pension funds managed by LHV have 112,000 active clients, and LHV Kindlustus protects a total of 172,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

Priit Rum
Communications Manager
Phone: +372 502 0786
Email: priit.rum@lhv.ee

Attachment
- LHV Group 2025-01-EN
The MIL Network –
February 18, 2025
MIL-OSI: CoinShares Announces Q4 2024 Results
Source: GlobeNewswire (MIL-OSI)

18^thFebruary 2024 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares” or “the Group”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), a leading global investment company specialising in digital assets, has today published its results for the quarter ending 31^st December 2024.

Jean-Marie Mognetti, Chief Executive Officer of CoinShares said:

“Q4 2024 was arguably the most transformative quarter in digital asset history, marked by groundbreaking policy shifts. It was also one of CoinShares’ strongest quarters since inception, with EBITDA reaching £33.6 million (£109.8 million year-to-date), a 37% increase from Q4 2023 and 116% year-on-year growth.

Over the past three years, we have systematically built a strong foundation, establishing leading platforms in both Europe and the United States. With our infrastructure in place and market position stronger than ever, we are uniquely poised to seize this pivotal moment in digital assets.”

Q4 2024 financial highlights
- Q4 revenue, gains and other income of £48.3 million (Q4 2023: £31.6 million)
- Q4 adjusted EBITDA of £33.6 million (Q4 2023: £24.5 million)
- Total comprehensive income for Q4 2024 of £46.7 million (Q4 2023: £15.8 million)
Full Year 2024 financial highlights
- 2024 revenue, gains and other income of £126.8 million (2023: £76.3 million)
- 2024 adjusted EBITDA of £109.8 million (2023: £50.9 million)
- Total comprehensive income for 2024 of £107.5 million (2023: £38.4 million)
Q4 2024 operational highlights
- CoinShares’ Asset Management division achieved its strongest quarter to date, with the Physical platform seeing notable growth in Q4. Our Physical Staked Ethereum ETP led inflows with $75 million, while our Physical XRP ETP attracted $31 million in new investments. The CoinShares Physical platform’s total assets increased by 54% to $2.3 billion, with our Physical Bitcoin ETP becoming Europe’s largest. Despite outflows in our XBT platform, strong crypto price appreciation drove AuM up by 30% to $3.74 billion. In the U.S., our CoinShares-Valkyrie business line saw positive net flows of $19 million, led by WGMI with $52 million in inflows, amidst a broader U.S. market that saw $16 billion flow into crypto spot, futures, and equity ETPs. The Asset Management division generated £25.3 million in revenue for the quarter and £87.1 million in revenue for the full year 2024.
- The Capital Markets and Hedge Fund Solutions division demonstrated robust performance across all business lines in Q4. Our trading team capitalized on market volatility, while liquidity provisioning saw materially higher flows than previous quarters. The lending book remained stable with a focus on credit quality, and staking activities generated consistent yields between 3-3.5%. Together with gains from our Bitcoin treasury position, the division delivered £21.2 million in Q4, bringing the full year 2024 revenue to £57.4 million.
The performance for Q4 marks one of the Group’s strongest quarter ever and has contributed to 2024 being the second strongest year in the Group’s history after 2021. Full details of the Q4 results, inclusive of financial information on each of the Group’s business units, are included within the full report, available here.

Proposed Dividend

The Board of the Company today announces that, subject to finalisation of the Group audit, it has resolved to declare and pay in four equal instalments an annual dividend in relation to the financial year ending 31 December 2024 amounting to £20,000,000, to be paid from the Group’s reserves.

The annual dividend payment will be made in four quarterly instalments via the Euroclear Sweden settlement system, subject to an assessment by the Board of the financial health and cash requirements of the Group prior to each payment being made.

ENDS

Download the Swedish Executive Summary here.

The Annual Report for the Group, inclusive of full audited financials is due to be released on 30^th April 2025.

ABOUT COINSHARES

CoinShares is a leading global investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and in the US by the Securities and Exchange Commission, National Futures Association and Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com

This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons set out below, at 7:00 am CET on 18^th February 2025.

PRESS CONTACT

CoinShares
Benoît Pellevoizin
bpellevoizin@coinshares.com

M Group Strategic Communications
Peter Padovano
press@coinshares.com

Attachment
- coinshares_report_q4_24
The MIL Network –
February 18, 2025
MIL-Evening Report: The Reserve Bank has cut rates for the first time in four years. But it is cautious about future cuts

Source: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

The Reserve Bank cut official interest rates on Tuesday, the first decrease in four years, saying inflationary pressures are easing “a little more quickly than expected”.

However, the central bank said the outlook for economic activity and inflation remains uncertain, with a risk that household spending may be slower than expected.

The reduction in the cash rate target will come as a relief to the one-third of households with a mortgage. It will help to ease the cost of living crisis for them.

The cut from a 13-year high of 4.35% to 4.1% had been widely expected by economists and financial markets.

The interest rate cut may help tip the scales for the government to call an early election. But recent opinion polls suggest the government still has work to do to put itself in a winning position.

Announcing its decision, the Reserve Bank said it had “more confidence that inflation is moving sustainably towards the midpoint of the 2-3% target”.

All four of the major banks swiftly passed on the cut in official rates to mortgage-holders. The average new housing loan is $666,000. Reducing the interest rate on this by 0.25% will mean $110 less a month in repayments (assuming a standard 30-year loan).

It is the first change in the cash rate since November 2023 and marks the first small reversal of 13 rate increases. The central bank had hiked interest rates quickly from the near-zero emergency level during the COVID epidemic and lockdowns.

Why did the Reserve Bank cut now?

The interest rate cut comes after headline inflation eased, to 2.4% during 2024, within the Bank’s 2-3% inflation target range.

However, the Bank’s preferred measure of underlying inflation, the “trimmed mean”, which excludes temporary factors such as the government’s electricity rebates, rose by 3.2% during 2024. This is just above the target range but a little less than the 3.4% the Bank had been forecasting.

“We cannot declare victory on inflation just yet,” Reserve Bank Governor Michele Bullock told a press conference after the decision. “It’s not good enough for it to be back in the target range temporarily, the board needs to be confident it’s returning to the target range sustainably.”

Read more:
Lower inflation in the December quarter boosts chances of an interest rate cut

The RBA and the election

In its first meeting for the year, the Reserve Bank board rejected the notion that they should hold off changing rates because an election is approaching.

While cutting interest rates will suit one side of politics, not cutting would have benefited the other. The impartial approach is to take the same decision as if no election were looming.

As then RBA governor Glenn Stevens said in 2007 after raising rates during an election campaign:

I do not think we ever could accept the idea that in an election year — which, after all, is one year out of three — you cannot change interest rates.

How does the Reserve Bank compare with other central banks?

Some central banks in comparable economies had already started lowering interest rates and have cut them by more than the RBA. But that is because most had raised interest rates by more.

The Reserve Bank adopted a strategy of being more patient in returning inflation to its target, so as to limit the increase in unemployment.

The strategy has worked. Unemployment in Australia peaked at 4.2% and is now 4.0%. By contrast, in New Zealand it is over 5% and in the euro area and Canada it is over 6%.

The Reserve Bank hasn’t received the credit it deserves for this strong performance.

Where to from here?

This is the last meeting of the current Reserve Bank board. It is being replaced by a new monetary policy committee, and a separate governance board as part of an overhaul of the bank. Two new members will replace two members of the current board for its next meeting on April 1.

The RBA board’s statement said that it “remains cautious on prospects for further policy easing”. This is central bank-speak for not rushing into further interest rate cuts.

The RBA also noted that “geopolitical and policy uncertainties are pronounced”. This is a reference to the economic fallout from United States President Donald Trump’s policies on trade and slashing jobs.

His proposed tariffs and deportations will increase inflation in the US and make US interest rates higher than they otherwise would be.

Read more:
What would a second Trump presidency mean for the global economy?

But this does not mean interest rates need to be higher here. Indeed, a trade war would weaken the global economy, which could lead to less inflation in Australia.

The Reserve Bank also released its updated forecasts. These show the underlying inflation rate dropping to 2.7% by June and then staying around there through 2026 and 2027.

Unemployment is low at 4%, and below what the Bank has previously regarded as “full employment”. But it is not leading to any surge in wage growth.

Indeed, the Bank commented that wages growth has been a little lower than it had forecast. Inflationary expectations are also well contained.

This offers hope there may be at least one further interest rate cut later this year (and the Reserve Bank’s forecasts assume this). But borrowers should not get their hopes up that interest rates will revisit the COVID-era lows. That is very unlikely.

John Hawkins was formerly a senior economist at the Reserve Bank.

– ref. The Reserve Bank has cut rates for the first time in four years. But it is cautious about future cuts – https://theconversation.com/the-reserve-bank-has-cut-rates-for-the-first-time-in-four-years-but-it-is-cautious-about-future-cuts-249704

MIL OSI Analysis – EveningReport.nz –

February 18, 2025
MIL-OSI Economics: New Zealand card payments set for 3.9% growth, driven by shift to contactless and electronic payments, forecasts GlobalData

Source: GlobalData

New Zealand card payments set for 3.9% growth, driven by shift to contactless and electronic payments, forecasts GlobalData

Posted in Banking

The New Zealand card payments market is projected to grow at a compound annual growth rate (CAGR) of 3.9% from 2025 to 2029, reaching NZD125.6 billion ($77.1 billion) by 2029. This growth is driven by the continued shift toward electronic payments, the increasing adoption of contactless cards, and a robust digital payments infrastructure that supports consumer spending and financial inclusion, reveals GlobalData, a leading data and analytics company.

GlobalData’s latest report, “New Zealand Cards and Payments – Opportunities and Risks to 2028,” reveals that card payment value in New Zealand registered a growth of 6.1% in 2023, driven by the rise in consumer spending. The value grew further to register an estimated growth of 2% in 2024 to reach NZD104 billion ($63.9 billion) in 2024.

Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, comments: “New Zealand is gradually moving towards the digitalization of its payment infrastructure, supported by a 100% banked adult population, mature payment card market, and the expansion of POS infrastructure. Increasing preference for cashless payments, the growth of the ecommerce market, and the adoption of contactless payment methods also contributed to this growth.”

Debit card payments hold a significant share of the total card payments market in New Zealand accounting for 47.8% in total payment value in 2024. The government and commercial banks have taken steps to promote financial inclusion and drive debit card penetration, such as offering low-cost bank accounts and reducing merchant interchange fees.

Although credit and charge cards account for a limited proportion of cards in circulation, they account for 52.2% share in 2024. This can be attributed to the value-added benefits offered by banks, such as reward points, discounts on purchases, and annual fee waivers.

New Zealand boasts a mature payments infrastructure, with one of the strong POS terminal uptakes. Local scheme provider EFTPOS NZ is the key driver behind this with over 60,000 businesses and more than 90,000 devices are connected to its network. The uptick in payment acceptance is also driven by the availability of mobile POS solutions. For example, EFTPOS offers Android-based terminals that accept both contactless and chip and PIN-based cards, as well as mobile payments.

In New Zealand, contactless cards are becoming more popular as banks and scheme providers push this technology. All the country’s major financial institutions now offer contactless cards. The number of such payments is likely to grow as more contactless cards are issued and merchants increasingly adopt contactless POS terminals.

Paytech provider Worldline introduced Tap to Pay on iPhone for Kiwi merchants in November 2024 to accept contactless payments using only an iPhone and the Worldline iOS app, without the need for additional hardware or payment terminals. Customers can make payments using contactless credit and debit cards, Apple Pay, and other digital wallets.

To reduce the dependence on cash and promote card payments, Payments NZ has introduced various measures as part of its Payments Modernisation Plan 2030. These measures include improving financial inclusion, promoting acceptance of card payments by merchants, and supporting competition and innovation in the payments space, thereby benefiting overall card payments market.

Sharma concludes: “The outlook for card payment growth in New Zealand is positive, driven by the ongoing shift from cash to debit cards for low-value transactions and the increasing preference for contactless payments. Payment cards are primarily used at the point of sale rather than for ATM withdrawals, reflecting the broader consumer shift towards electronic payments. Additionally, anticipated economic growth and lower inflation are expected to further boost card spending.”

MIL OSI Economics –

February 18, 2025
MIL-OSI Australia: Reserve Bank cuts cash rate

Source: Australian Treasurer

Today the independent Reserve Bank of Australia Board decided to lower the cash rate by 25 basis points to 4.10 per cent.

This is very welcome news for millions of Australians.

This is the rate relief Australians need and deserve.

It won’t solve every problem in our economy or in household budgets but it will help.

Today’s result is a demonstration of the substantial and sustained progress we’ve made on inflation together.

When we came to office, interest rates were going up, now they are going down.

For a household with a mortgage of $500,000, this rate cut will save them $80 a month, or $960 per year.

Under Labor, inflation is down, wages are up, unemployment is low and now interest rates have started to come down too.

This is the soft landing we have been planning for and preparing for but we know there’s more work to do.

Other countries have had to pay for progress on inflation with higher unemployment, growth going backwards or even a recession.

Inflation is now almost a third of the 6.1 per cent we inherited, and that’s a testament to the efforts of all Australians.

In its statement today, the RBA Board said we have made welcome progress on inflation and that inflationary pressures are easing more quickly than expected.

Today’s decision and the statement from the Board gives us further confidence that the worst of the inflation challenge is behind us, but we can’t be complacent.

Today’s decision is welcome but it’s not mission accomplished because people are still under pressure.

The Government will maintain a primary focus on the cost of living.

When we came to office, real incomes were going badly backwards.

Now they’re growing again due to moderating inflation, wages growth, jobs growth and our tax cuts.

Lower mortgage costs will also support the growth of real disposable incomes into the future.

Australians would be thousands of dollars worse off if Peter Dutton had his way on tax cuts, wages and energy bill relief – and worse off still if he wins the election.

The biggest risk to the progress we have made together is a Coalition government that would come after Medicare again, push wages down again, and push electricity prices up with more expensive nuclear energy.

We’re fighting inflation, helping with the cost of living and building Australia’s future, and this encouraging decision shows our policies are making a meaningful difference.

MIL OSI News –

February 18, 2025
MIL-OSI Submissions: Australia – CBA reduces interest rates on business loans

Source: Commonwealth Bank of Australia (CBA)

The Commonwealth Bank has responded to the Reserve Bank of Australia’s cash rate decision, reducing rates on eligible business lending products.

Commonwealth Bank will reduce interest rates by 0.25% per annum (p.a.) on eligible business lending products, following the Reserve Bank of Australia’s (RBA) decision to decrease the official cash rate by 0.25% p.a.

CBA’s Business Bank will be reducing interest rates across its Variable Base Rate, Residential Equity Rate, and Overdraft Reference Rate, by 25 basis points.

This reduction will apply to business lending products including Better Business Loans and Business Overdrafts. All business loan variable rate changes announced today will be effective 28 February 2025.

CBA Group Executive Business Banking, Mike Vacy-Lyle, said: “Businesses are the lifeblood of Australia’s economy, and they’ve shown remarkable resilience in what has been a challenging environment.

“While today’s rate reductions may provide some relief, we recognise some of our business customers are facing challenging times and we have a range of measures available for businesses facing difficulty, such as waiving merchant terminal rental fees and deferring repayments on business loans.

“We also recognise the importance of balancing the needs of business borrowers and business depositors, and we will continue to review our pricing and make further adjustments as required.”

For business deposit customers, CBA continues to offer a range of options for those looking for at call, notice deposit and term deposit products. CBA will be reducing the interest rate by up to 0.10% p.a. on the Business Online Saver product. The interest on 48 hours and 7-day notice Capital Growth Account remains unchanged.

Support for small businesses customers

A range of support options are available for business customers. These include:

Deferred business loan repayments or debt restructuring.
Free comprehensive cash flow tracking capabilities via a Business Cash Flow tool in the CommBank app.
Bill Sense to help customers predicts future bills and our business insights tool called Daily IQ.

More information is available on our website and businesses seeking support can speak to their Relationship Manager or call CBA’s dedicated Business Financial Assistance team, available 24/7, on 13 26 07.

MIL OSI – Submitted News –

February 18, 2025
MIL-OSI Submissions: Asia Pacific – New UN report lauds community-driven innovations in closing SDG data gaps in Asia and the Pacific

Source: United Nations – ESCAP

Across Asia and the Pacific, communities are pioneering innovative solutions to bridge critical data gaps, ensuring that marginalized populations are no longer invisible in policymaking. From surveying hundreds of nomadic tribal households across Rajasthan State in India to health-monitoring mobile applications in Indonesia, these efforts are transforming sustainable development in the region.

A new report by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) demonstrates that by amplifying the voices of underrepresented communities, these solutions are not only making policies more inclusive but also making sustainable development monitoring more representative across Asia and the Pacific.

However, the Asia and the Pacific SDG Progress Report 2025 also stresses that urgent action is still needed in order to achieve the 17 Sustainable Development Goals (SDGs) by 2030.

“Data gaps persist and leave some of the most vulnerable populations invisible in official statistics, limiting policymakers’ ability to address their needs effectively,” underscored United Nations Under-Secretary-General and ESCAP Executive Secretary Armida Salsiah Alisjahbana.

She added, “Constrained resources to modernize statistical systems pose additional hurdles. Without urgent action to accelerate progress, many of the Goals will remain out of reach.”

The report highlights several SDG targets where Asia and the Pacific leads globally such as reducing income poverty (Goal 1), addressing undernourishment (Goal 2), supporting small-scale industries (Goal 9), reducing hazardous waste (Goal 12), mitigating land degradation (Goal 15), and combating human trafficking and intentional homicide (Goal 16).

Despite these strides, slow progress or setbacks in critical goals such as quality education (Goal 4), decent work and economic growth (Goal 8), and sustainable consumption and production (Goal 12) threaten regional efforts to achieve the 2030 Agenda for Sustainable Development. Rising fossil fuel subsidies, low literacy and numeracy rates, and unsustainable production patterns further compound these challenges.

Meanwhile, environmental degradation, increasing vulnerability to natural disasters, and persistent greenhouse gas emissions are exacerbating setbacks on climate action (Goal 13), life below water (Goal 14) and life on land (Goal 15).

The report further finds that development benefits often bypass vulnerable groups, with intersecting factors like age, gender, education, location and wealth exacerbating inequalities. Poverty and education level are the two most significant factors contributing to inequality of opportunity. Poorer households in rural areas with lower levels of education are the most disadvantaged in accessing basic services such as water, sanitation and clean energy.

To bridge these gaps, ESCAP calls for innovative and inclusive data collection and analysis. Nuanced and granular data will provide policymakers a clearer understanding of the realities of specific population groups especially those most at risk of being left behind.

The report further emphasizes that transforming national statistical systems to meet the data needs of the 2030 Agenda requires urgent political commitment, financial investment and stronger cross-sector partnerships.

An annual flagship publication of ESCAP, the Asia and the Pacific SDG Progress Report 2025 uses the latest data for global SDG indicators to determine where additional effort is needed in the region and where momentum for future progress is building.

MIL OSI – Submitted News –

February 18, 2025
MIL-OSI Submissions: Australia – CBA announces interest rate reductions

Source: Commonwealth Bank of Australia

The Commonwealth Bank has responded to the Reserve Bank of Australia’s cash rate decision.

Following the Reserve Bank of Australia’s (RBA) decision to decrease the official cash rate by 0.25% per annum (p.a.), CBA will decrease home loan variable interest rates by 0.25% p.a.

All home loan variable rate changes announced today will be effective 28 February 2025.

CBA’s Group Executive, Retail Banking Services, Angus Sullivan said: “We know that cash rate increases have been challenging for our home loan customers and they are looking forward to some relief.

“We recognise some customers will continue to need support as they manage household budgets. We strongly encourage anyone who is experiencing hardship to contact us, so we can help with a solution that suits their circumstances.

“We are committed to ensuring our customers have the right tools, support and advice as they navigate this change. After today’s interest rate changes are effective, eligible home loan customers may choose to reduce their mortgage repayments in line with the change to their variable rate via the CommBank app, NetBank, or by messaging us directly.

“For our savings customers, we continue to offer a range of options for those looking for both at call savings and term deposits. We will maintain our current 10-month term deposit special of 4.60% p.a. for a limited time.”

Support for home loan customers

A range of support options are available for home loans customers. These include:

Estimating how much home loan repayments will be via the home loan repayments calculator. You can also estimate the impact additional payments can make to your loan balance and duration.
Changing the repayment amount and frequency of home loan payments. Eligible customers can reduce their mortgage repayments and align their repayment timing to when and how often they are paid via the CommBank app or NetBank.

A range of money management support and tools are available in the CommBank app. These include:

Spend Tracker in the CommBank app to help categorise your debit and credit card transactions, making it easier to see the impact your spending decisions have on your everyday finances.
Category budgets to set weekly, fortnightly or monthly budgets for different categories of your spending – from entertainment to transport, eating out and shopping. You can see how your spending compares to the budget you set yourself, to help you stay on track.

MIL OSI – Submitted News –

February 18, 2025
MIL-OSI New Zealand: Privacy Commissioner – Two reports show privacy must be at the heart of trust in government
Source: Office of the Privacy Commissioner
Today’s release of two reports into the protection of personal information show agencies must be better at privacy, says Privacy Commissioner Michael Webster.

The Inquiry into how government agencies protected personal information for the 2023 Census and COVID-19 vaccination programme (the PSC Inquiry) and the Independent investigation and assurance review of allegations of misuse of 2023 Census information (the Stats NZ report), show the protection of personal information needs to be treated as a priority.

Several matters have now been referred to the Office of the Privacy Commissioner (these are detailed below).

Privacy Commissioner Michael Webster said he is carefully reviewing the referrals raised in the two reports. That work will be done in the context the Privacy Act and the need to ensure individuals’ rights to privacy is protected and respected.

“New Zealanders need to be confident that when they do activities, like filling in their Census form, or giving over information for medical services, that their information is collected, used, and shared as the law outlines it should be,” says Mr Webster.

“The Privacy Act is very clear that agencies collecting personal information need to keep it safe and treat it with care. This responsibility extends to the use of third-party service providers.

Agencies need to be confident that personal information is protected wherever and whatever organisation is handling it.”

The Office of the Privacy Commissioner has recently issued guidance to help agencies working with third-party providers understand their responsibilities.

Mr Webster said he was encouraged to see that work on a new information sharing standard is underway, supporting the information stewardship framework at the core of the Privacy Act.

“Its important people can trust that their information is treated with care. In our 2024 Privacy Survey the percentage of people who said they are “more concerned” about privacy issues over the last few years has increased to 55%, a 14% increase from two years ago. New Zealanders were clear in their response to these concerns:
80% want more control and choice over the collection and use of their personal information.
63% said protecting their personal information is a major concern in their lives.
around two-thirds of New Zealanders are concerned about businesses or government
organisations sharing their personal information without telling them.

“Good privacy is an essential part of providing services and doing business in a digital economy. Today’s findings should be a reminder to government organisations that good privacy practices aren’t an optional extra but are fundamental to the work they do,” says the Commissioner.

A number of questions have now been referred to the Privacy Commissioner by the PSC Inquiry:
Whether systems and controls were appropriate for personal data following its transmission by Te Whatu Ora, the Ministry of Health and Stats NZ to service providers
Whether there were appropriate means in place for these public agencies to be confident that their service providers were meeting their contractual privacy requirements
Whether personal information was collected or used by Manurewa Marae for unauthorised purposes
Whether separation of personal data from Census data was maintained at Manurewa Marae, and whether privacy statements were adequate to inform people about the use of their information.
A further matter has been referred to the Privacy Commissioner by the Stats NZ report about the collection and management of personal information and confidential census data.

While the review of the referrals takes place, the Office will not be making any further comment.
MIL OSI New Zealand News –
February 18, 2025
MIL-OSI: Bitget Wallet Launches BGB Onchain Staking on Morph, Expanding BGB Utility

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Feb. 18, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, is expanding the utility of its native token, Bitget Token (BGB), alongside the launch of a limited-time BGB onchain staking program on Morph chain. BGB is evolving into a bridge connecting onchain ecosystems and real-world applications. The onchain staking program offers higher returns while enhancing fund autonomy and privacy, providing users with greater security compared to centralized options.

The first BGB onchain staking program will run from February 14, 2025, 20:00 (UTC) to February 21, 2025, 20:00 (UTC) with a staking pool capped at 350,000 BGB. Users can stake their tokens through Bitget Wallet’s BGB Center or Bitget Exchange’s Earn section for a 90-day period and earn 5% APY fixed returns along with access to 20,000 Morph Points. For every 15 BGB staked, users will receive 1 Morph Point, which can be redeemed for future Morph tokens and other rewards.

BGB’s expanding utility is central to Bitget Wallet’s long-term vision, with applications in decentralized trading, staking, and payments driving its growth. As a multi-chain gas token within Bitget Wallet, BGB eliminates the need to manage multiple gas tokens across different blockchains, simplifying onchain interactions and ensuring smoother user experiences. Staking BGB onchain allows users to earn rewards and qualify for project airdrops, while VIP holders can access exclusive benefits, including Bitget Wallet Card cashback and other premium services through Bitget Wallet’s growing PayFi ecosystem. These features bridge the gap between DeFi returns and real-world spending opportunities.

BGB’s market momentum highlights its growing demand and deflationary design. Over the past two months, BGB’s price has surged over 320%, driven by increased utility and token burn. Starting in 2025, Bitget will implement quarterly token buybacks and burns to reduce the token’s circulating supply and enhance token value. By encouraging long-term holding, this strategy aims to maintain steady growth and strengthen BGB’s role within Bitget’s ecosystem.

“BGB’s rapid growth reflects its key role in the Web3 ecosystem,” said Alvin Kan, COO of Bitget Wallet. “As we continue expanding BGB’s utilities in staking, payments, and decentralized finance, we are committed to creating long-term value and a dynamic, sustainable community.” To support community participation, Bitget Wallet will host the BGB Builders Night during the Hong Kong Consensus event, where discussions will focus on BGB’s future.

Learn more on the Bitget Wallet blog.

About Bitget Wallet
Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, an NFT marketplace and crypto payment. Supporting over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users’ assets. Experience Bitget Wallet Lite to start a Web3 journey.

For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook
For media inquiries, please contact media.web3@bitget.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/389a2046-209a-45bb-bce6-3b29311c5c12

The MIL Network –

February 18, 2025

Category: Economy

CTPP designation and engagement

Implementation of the oversight framework and setup of the joint ESAs oversight function

Next steps

Background

Working together

Complaint handling

Learning from complaints

Customer focus

Performance

HMRC’s response to the Adjudicator’s Office Insight Report: Applying Customer Circumstances to Decision Making

Valuation Office Agency

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Source: Office of the Privacy Commissioner