Category: Economy

Centre notifies guidelines for electric passenger vehicle manufacturing scheme

Source: Government of India

Source: Government of India (4)

The Centre on Monday issued detailed guidelines for a new scheme aimed at promoting domestic manufacturing of electric passenger vehicles, marking a key step in its broader push for green mobility and sustainable industrial development. The “Scheme to Promote Manufacturing of Electric Passenger Cars in India” (SPMEPCI), notified by the Ministry of Heavy Industries (MHI), is intended to attract global investments in India’s electric vehicle (EV) sector while strengthening the country’s position as a global automotive manufacturing hub.

Announced in March 2024, the scheme aligns with India’s climate goals, including its commitment to achieve net-zero emissions by 2070. The initiative also supports the government’s vision of fostering economic growth, job creation, and environmental sustainability through strategic policy interventions in the EV ecosystem.

Speaking at a press conference, Union Minister for Heavy Industries, H.D. Kumaraswamy, described the scheme as a forward-looking and transformative step. He noted that the scheme is designed not only to bring cutting-edge EV technologies into the Indian market but also to build indigenous manufacturing capabilities through a clear framework of domestic value addition (DVA) targets.

Under the scheme, approved companies will be allowed to import a limited number of completely built electric four-wheelers (e-4W) at a reduced customs duty rate of 15 per cent for a period of five years. These imports must meet a minimum cost, insurance and freight (CIF) value of USD 35,000 per unit. The concession is capped at 8,000 units per year, with the flexibility to carry forward unused quotas. However, the total duty foregone will be limited to either Rs 6,484 crore or the actual investment made by the applicant, whichever is lower.

To qualify for these benefits, applicants must commit to a minimum investment of Rs 4,150 crore within three years of receiving approval. They must also establish manufacturing facilities and commence production within this period. The guidelines stipulate that a minimum of 25 per cent domestic value addition should be achieved within three years, rising to 50 per cent within five years. The DVA assessment will follow the existing Standard Operating Procedure of the PLI Scheme for Automobile and Auto Components, with certifications to be carried out by MHI-approved testing agencies.

While there is no cap on maximum investment, only specific categories of expenditure—such as new plant and machinery, engineering research and development, and essential buildings—will be counted towards the investment threshold. Notably, expenditure on land is excluded, while spending on charging infrastructure will be considered up to a limit of five per cent of the total committed investment.

Applicants will be required to furnish a bank guarantee equivalent to the higher of the duty foregone or Rs 4,150 crore, valid for the entire duration of the scheme. The application window, expected to open soon, will remain active for a minimum of 120 days, with the government retaining the option to reopen it until March 2026. A non-refundable application fee of Rs 5 lakh will be applicable.

Eligibility is restricted to companies or global groups with an automotive manufacturing revenue of at least Rs 10,000 crore and fixed asset investments of not less than Rs 3,000 crore, based on their latest audited financial statements.

The Ministry of Heavy Industries said the scheme would catalyse the development of a competitive and self-reliant EV manufacturing ecosystem in India, contributing to the larger goals of the ‘Make in India’ and ‘Aatmanirbhar Bharat’ initiatives. The effort is also expected to generate high-quality employment, accelerate the adoption of clean energy technologies, and position India as a preferred destination for global automotive innovation.

June 2, 2025
India to create 7.29 million green jobs by FY28, 35 million by 2047: Report

Source: Government of India

Source: Government of India (4)

India’s green economy is growing rapidly and is expected to reach a value of $1 trillion by 2030, and a staggering $15 trillion by 2070, a new report said on Monday.

With this massive growth, India is also set to create a huge number of green jobs – around 7.29 million by the financial year 2027-28 and 35 million by the year 2047, according to a NLB Services report.

NLB Services CEO Sachin Alug said: “In the past 4–5 years, we’ve seen green jobs evolve from niche roles to mainstream opportunities across renewable energy, EVs, and sustainable infrastructure. What’s changed pragmatically is the skillsets.”

“Today’s green workforce needs both sustainability know-how and digital fluency, and the increased integration of AI, IoT, blockchain, GIS, and data-driven tools are laying the foundation for progressive, new-age green careers,” Alug mentioned.

As the green sector expands, industries are not just investing in green technology and renewable energy, but also focusing on building a skilled workforce to meet the rising demand.

This shift is driving companies to change their hiring strategies. Rather than relying only on traditional degrees, employers are now giving more importance to practical green skills and hands-on experience.

Many companies are also working closely with colleges and universities to equip young people with sustainability-related skills, while also investing in inclusive hiring and re-skilling programmes, the report stated.

The new employment outlook is stronger than earlier predictions. In 2024, the green sector was expected to grow at a pace of 15–20 per cent annually in terms of job demand.

However, new estimates show an even faster increase, especially in fields like renewable energy, electric vehicles, green construction, waste management, and sustainable textiles.

Most green jobs are still based in big cities like Mumbai, Bengaluru, and Delhi. But smaller cities such as Jaipur, Indore, Visakhapatnam, Coimbatore, Bhubaneswar, Chandigarh, and Ahmedabad are also becoming key green job hubs.

Tier II and Tier III cities are expected to create 35-40 per cent of the projected 7.29 million jobs by FY28, helped by the growth in sustainable agriculture, logistics, and warehousing, as per the report.

Green job roles are also becoming more diverse. Demand for professionals in areas such as ESG (Environmental, Social and Governance) analytics, climate data analysis, and green technology is growing fast, with a projected 20–30 per cent yearly rise.

(IANS)

June 2, 2025
RBI may opt for 50 bps jumbo rate cut to counter uncertainty: SBI report

Source: Government of India

Source: Government of India (4)

The Reserve Bank of India (RBI) may implement a 50-basis point rate cut in its June Monetary Policy Committee (MPC) meeting to revive the credit cycle and mitigate economic uncertainty, according to a report by the State Bank of India (SBI) released on Monday.

The cumulative rate cut during the ongoing cycle could total 100 basis points, said Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser at SBI.

“Domestic liquidity and financial stability concerns have eased. Inflation is expected to remain within the tolerance band. Preserving domestic growth momentum should be the primary policy objective, justifying a jumbo rate cut,” he noted.

With liquidity in sustained surplus, banks are repricing liabilities more rapidly amid the rate-easing cycle. Savings account interest rates have already been reduced to a floor rate of 2.70 per cent.

Fixed deposit (FD) rates have also been cut by 30 to 70 basis points since February 2025. SBI anticipates a strong transmission to deposit rates in the coming quarters.

India’s economy expanded by 7.4 per cent in Q4 FY25, down from 8.4 per cent in the same quarter last year. This growth was largely driven by a sharp rise in capital formation, which registered a 9.4 per cent year-on-year increase.

An above-normal monsoon forecast by the IMD, robust crop arrivals, and declining crude oil prices have led SBI to revise its CPI inflation estimate downward to 3.5 per cent for FY26.

Based on the latest RBI Annual Report, SBI expects higher household savings, adequate to support economic growth without creating demand-driven inflationary pressures in FY26.

The report also highlighted the strong performance of Indian banks, particularly public sector banks (PSBs), which recorded a 26 per cent year-on-year rise in profits. In comparison, private banks saw a 5.8 per cent increase.

System liquidity turned positive, standing at ₹1.2 lakh crore as of March 31. Factoring in the recent ₹2.68 lakh crore RBI dividend to the government, SBI projects core liquidity to reach ₹5.3 lakh crore by the end of June. Durable liquidity is likely to remain in surplus throughout FY26.

Against this backdrop, the report suggests that the RBI will need to strike a balance between managing contained inflation and preventing a slowdown in domestic growth.

“We expect that the RBI will proceed with a 50 bps rate cut to support growth,” the report concluded.

-IANS

June 2, 2025
MIL-OSI Asia-Pac: April retail sales drop 2.3%

Source: Hong Kong Information Services

The value of total retail sales in April, provisionally estimated at $28.9 billion, was down 2.3% compared with the same month in 2024, the Census & Statistics Department announced today.

After netting out the effect of price changes over the same period, the provisional estimate for the month was 3.3% lower year-on-year.

Of the total retail sales figure for the month, online sales accounted for 8.1%. Provisionally estimated at $2.3 billion, the value of online retail sales decreased 3.5% compared with a year earlier.

Meanwhile, the value of sales of commodities in supermarkets decreased 2.4% compared with a year earlier.

There were also declines in the value of sales in the following categories: jewellery, watches and clocks, and valuable gifts (-1.7%); apparel (-5.6%); motor vehicles and parts (-53.4%); fuels (-12.5%); footwear, allied products and other clothing accessories (-5.1%); furniture and fixtures (-16.7%); and optical items (-0.2%).

By contrast, the value of sales of “other consumer goods not elsewhere classified” increased by 13.4% for the period. Also up were sales of medicines and cosmetics (+7.2%); food, alcoholic drinks and tobacco (+3%); electrical goods and other consumer durable goods not elsewhere classified (+1.6%); commodities in department stores (+2.1%); books, newspapers, stationery and gifts (+11.7%); and Chinese drugs and herbs (+3.8%).

The Government said its proactive promotion of tourism and mega events, increased employment earnings and sustained steady growth in the Mainland economy will support the retail sector.

However, it cautioned that ongoing changes in consumption patterns and competition among businesses, amid an uncertain macroeconomic environment, will continue to pose challenges for the sector.

MIL OSI Asia Pacific News –

June 2, 2025
MIL-OSI Asia-Pac: SCMA unveils Greater Bay Area Aircraft (with photos)

Source: Hong Kong Government special administrative region

SCMA unveils Greater Bay Area Aircraft
     Following its earlier promotional efforts to reach out to the community through means of transportation such as buses, trams and ferries, the Guangdong-Hong Kong-Macao Greater Bay Area Development Office (GBA Office) of the Constitutional and Mainland Affairs Bureau is using an aircraft for the first time as a mobile display platform to further promote the Greater Bay Area to a global audience.

     Mr Tsang said, “The development of the Guangdong-Hong Kong-Macao Greater Bay Area is the best entry point for Hong Kong to actively integrate into the overall national development. Hong Kong possesses the unique advantages of enjoying the strong support of the motherland and being closely connected to the world under the ‘one country, two systems’ principle, and a business environment that is highly market-oriented and internationalised, underpinned by the rule of law, free flow of capital, a comprehensive financial regulatory system, a simple and low tax regime, and a pool of global professional talent. All these have enabled Hong Kong to become a ‘super connector’, connecting the Mainland with the world, and leveraging its dual roles in going global and attracting foreign investment for the GBA.”

     Mr Tsang expressed his hope that the aircraft would serve as an “ambassador in the sky” to promote the Greater Bay Area, raising awareness of the latest developments of the GBA and Hong Kong’s role in connecting the Mainland with the world. He encouraged all sectors to capitalise on Hong Kong’s distinctive strengths to seize the enormous opportunities brought about by GBA development, thereby promoting the high-quality development of the GBA.

     The Greater Bay Area Aircraft mainly travels between Hong Kong and various destinations on the Mainland and in Asia. The airline’s unique positioning of being rooted in Hong Kong and radiating to the GBA, together with its main routes that closely connect the GBA and the international market, fully demonstrates Hong Kong’s role as the international gateway to the GBA.

     The Chief Executive Officer of Greater Bay Airlines, Ms Liza Ng, expressed her wholehearted support for this meaningful activity of the Hong Kong Special Administrative Region Government. Through daily flights to and from different cities, the vision of the GBA is promoted overseas, enabling more people to gain a deeper understanding and actively participate in the GBA’s development. The airline has been established in support of the national strategy of developing the GBA, and makes its contributions as Hong Kong fully leverages its distinctive advantages of having strong support from the motherland and enjoying close connections with the world as well as its status as an international aviation hub to integrate into the overall national development.

     Hong Kong residents, together with people and enterprises from the Mainland and abroad, will be able to catch a glimpse of the Greater Bay Area Aircraft at Hong Kong International Airport or when travelling on Greater Bay Airlines’ flights. The GBA Office will continue to disseminate the stories of the GBA through diversified channels, and encourage all sectors to actively seize the good opportunities that GBA development presents to develop the region into an international first-class bay area.
Issued at HKT 18:06

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CategoriesMIL-OSI

MIL OSI Asia Pacific News –

June 2, 2025
MIL-OSI USA: Reps. Craig, Hinson Lead Bipartisan Call to Expand Homegrown Biofuels Production

Source: United States House of Representatives – Congresswoman Angie Craig (MN-02)

WASHINGTON, DC – Today, U.S. Representatives Angie Craig (D-MN) and Ashley Hinson (R-IA) led 26 of their bipartisan colleagues in calling on the Administration to expand annual Renewable Volumes Obligations for biomass-based diesel in their upcoming rulemaking for 2026.

In a letter to President Donald Trump, the Members urged the Administration to support a strong Renewable Fuel Standard (RFS) by adopting timely, robust blending requirements in the upcoming “Set 2” rule establishing Renewable Volume Obligations (RVOs) for 2026 and beyond.

“Even before you took office, the EPA was months behind meeting the statutory deadline to set RVOs, which only exacerbated market instability,” the Members wrote. “Domestic biofuel production facilities have already idled, and further delays in action could result in additional closures, putting Americans out of work and disrupting key markets for farmers.”

“Congress established the Renewable Fuel Standard (RFS) to provide certainty and encourage investment in biofuels to the benefit of American families, the economy, and U.S. energy security,” the Members continued. “A strong Set 2 will benefit our constituents by lowering prices at the pump, creating and maintaining U.S. biomanufacturing jobs, and driving economic growth. A strong RVO will also support market growth for farmers at a time when global markets are experiencing uncertainty.”

The EPA’s Renewable Volume Obligations for 2023 – 2025 were significantly lower than industry production trends, leading to a collapse in the value producers can receive in the renewable fuels market. Those poor market conditions led several biodiesel plants across the country to shut down last year. Higher RVOs will support market growth for farmers at a time when global markets are experiencing uncertainty.

In Congress, Rep. Craig has worked across the aisle for years to promote homegrown biofuels. Last month, following her push, the Environmental Protection Agency (EPA) issued an emergency fuel waiver allowing the sale of E15 nationwide this summer.

Earlier this year, she introduced her bipartisan Nationwide Consumer and Fuel Retailer Choice Act to make year-round access to E15 permanent nationwide – expanding market access for Minnesota farmers and lowering costs for drivers at the gas pump. And in February, she led a bipartisan letter to newly confirmed Environmental Protection Agency (EPA) Administrator Lee Zeldin, urging the Agency to prioritize biofuels as part of the Administration’s energy agenda.

The full text of the letter can be found HERE.

###

MIL OSI USA News –

June 2, 2025
MIL-OSI Africa: Africa’s new credit rating agency could change the rules of the game. Here’s how
Source: The Conversation – Africa – By Daniel Cash, Reader in Law, Aston University

For governments, a credit rating is more than a financial signal. It is a verdict that can influence the cost of borrowing, access to markets and, ultimately, the ability to provide for their citizens.

Rating decisions are made behind closed doors in a private process that isn’t open to assessment or scrutiny.

For African countries, this opacity can be especially damaging. When rating decisions lack transparency, it’s impossible to challenge potential biases or inconsistencies in methodology that put developing economies at a disadvantage. The result is higher borrowing costs that drain resources from healthcare, education and infrastructure investment.

Africa’s new credit rating agency has the chance to change this. The African Credit Rating Agency is an initiative under development by the African Union and its partners. It is more than a new entrant; it is an attempt to rethink how financial authority is earned, exercised and scrutinised. The new agency plans to introduce transparent governance structures that could revolutionise rating methodology.

As a researcher who has looked closely at the working of rating agencies, I believe this opportunity to bring transparency to financial governance isn’t just about better ratings. It’s a step towards economic sovereignty.

Success for the African Credit Rating Agency shouldn’t be measured by whether it displaces the “big three” rating agencies (Standard & Poor’s, Moody’s and Fitch). The real question isn’t whether an African agency can compete, but rather whether it can show the world how to rate credit differently.

A flawed process

The three big agencies do publish their methodologies – their criteria and risk models. This creates an illusion of transparency. Yet the final judgments emerge from committee meetings that produce no public record, no accountability, and no right of meaningful appeal.

These rating committees typically comprise five to 10 analysts who meet in closed sessions to make each sovereign rating decision. S&P, Moody’s and Fitch each operate internal rating committees for every sovereign rating decision. The deliberations, dissenting views, and specific reasoning behind final votes remain confidential. Only a brief summary is provided with a rating decision.

Research has shown that credit rating agencies are more accurate at assessing the creditworthiness of advanced economies than developing economies. There have also been studies on the discrepancy between what is expected when the public methodologies are applied and what the agencies actually rate. These studies have been done for economies like Hong Kong and China, but no equivalent research has yet been undertaken for African sovereigns.

This discrepancy exposes an accountability void. When methodology-based predictions miss the mark, we must question what happens in those committee rooms. Especially when African nations are being assessed by analysts stationed continents away, with limited understanding of local economic and political realities.

The African Credit Rating Agency could make three changes to the way ratings are done:
- through public deliberations
- by forming hybrid committees
- with technological intervention.
First, it could release committee transcripts within 30 days of each decision. This would give markets and governments unprecedented insight into rating rationales. This isn’t radical – central banks already publish meeting minutes, and courts publish opinions with dissenting views.

Second, it could pioneer panels that include not only rating analysts, but regional economists, sectoral specialists, and even civil society observers. All with recorded votes. This diversified expertise would disrupt “group think” while capturing nuances of African economies that traditional agencies overlook.

I have examined this idea from the perspective of injecting climate and sustainability-related expertise into credit rating committees. I believe this is a crucial step to take to evolve the concept of the credit rating committee.

Third, the agency could use artificial intelligence to analyse patterns across committee discussions, flagging potential regional biases or inconsistent methodology application. It might be able to use secure digital ledgers to create unchangeable records of decisions.

Why the big three keep it closed

The industry thrives on privacy – protecting proprietary methodologies and shielding decisions from external challenge. And the natural oligopoly (a market dominated by a few large players due to high entry barriers, reinforced by market preference for predictability) helps it stay that way.

The sovereign credit ratings of the three big agencies are built on quantitative and qualitative factors. But research shows that sovereign ratings are subjected to qualitative understandings. This puts developing economies at a disadvantage when agencies demonstrate pro-western biases because they lack data or knowledge.

The impact of a credit rating downgrade for a sovereign borrower is usually multifaceted. Research shows that a single-notch downgrade can raise borrowing costs by more than 100 basis points, equivalent to an extra US$100 million annually on a US$10 billion bond.

Investors prefer fewer, stronger signals rather than many competing views. So there’s little incentive for established players to change. The African Credit Rating Agency, as a new entrant, can offer something the incumbents won’t: governance innovation that serves both markets and nations.

Radical openness will shake markets, at least at first. Committee members might face political pressure. Transparency alone doesn’t guarantee fair outcomes.

But the world already demands transparency from central banks and constitutional courts. Why accept anything less from institutions that shape sovereign destiny?

Next steps

By 2050, one in four people on Earth will be African. The financial architecture serving them must evolve towards systems that recognise the continent’s unique strengths.

Opening the rating committee to view represents more than technical reform – it’s about shifting who holds power in global finance. If it does this, the African agency won’t just deliver better ratings; it will model how global finance can be governed more justly.

– Africa’s new credit rating agency could change the rules of the game. Here’s how
– https://theconversation.com/africas-new-credit-rating-agency-could-change-the-rules-of-the-game-heres-how-257138

MIL OSI Africa –
June 2, 2025
MIL-OSI United Kingdom: Forgotten assets to help families and young people thrive
Source: United Kingdom – Executive Government & Departments

Press release

Forgotten assets to help families and young people thrive

First ever Dormant Assets Scheme Strategy unlocks £440 million funding
First ever Dormant Assets Scheme Strategy unlocks £440 million funding for people and communities who need it most – redirecting money from long-unused accounts to important social causes

Money will get young people involved in music, drama and sport, plus give thousands of vulnerable households access to affordable loans, delivering opportunity through Plan for Change

Financial institutions including JP Morgan and AON welcomed to No11 today, as Chancellor and Culture Secretary encourage them to participate in the Scheme and support local communities

Families struggling with sudden costs and young people in deprived areas will get vital help, as £440 million from forgotten assets is put to work in communities across England through the first-ever Dormant Assets Scheme Strategy.

This includes £132.5 million to give young people in disadvantaged neighbourhoods new chances to take part in music, sport and drama to build skills for the future, improve their employment opportunities and ensure access is no longer the preserve of a privileged few.

A further £132.5 million will benefit those in financially vulnerable circumstances, providing them with the affordable credit and support they need to manage their money well. This will mean that people facing money worries will have a safety net for when things go wrong – from a broken fridge to an unexpected car repair – instead of leaving them at the mercy of loan sharks.

Local charities and community groups will also get extra funding, so they can run projects like food banks, youth clubs, and community events. This support will help bring people together, tackle loneliness, and make neighbourhoods safer and friendlier for everyone.

Chancellor of the Exchequer Rachel Reeves and Culture Secretary Lisa Nandy welcomed major financial institutions including JP Morgan, Schroders, AON, Jupiter Asset Management, Aberdeen Group and other industry champions into No11 Downing Street today, highlighting the tangible difference this money can make to local communities and encouraging future participation to support these important causes.

Secretary of State for Culture, Media and Sport, Lisa Nandy said:

“From supporting young people and enhancing financial inclusion to driving social investment, this transformational funding will reach some of the most disadvantaged areas across the country and have a real impact on people’s lives as we deliver our Plan for Change.

“Made possible thanks to the ongoing support of our industry partners, I’ve been delighted to speak to financial institutions today as we look to bring in new sectors to support growth and drive opportunity across England.”

Chancellor of the Exchequer Rachel Reeves said:

“We’re turning forgotten assets into fresh opportunities by unlocking £440 million that would otherwise be sitting idle to help young people realise their potential, and ensure vulnerable families aren’t excluded from the financial products they need. Through our Plan for Change, we’re backing communities and boosting opportunities to deliver growth and put more money in people’s pockets.”

Chris Cummings, CEO of the Investment Association said:

“We look forward to the further expansion of the Dormant Assets Scheme to the investment and wealth management sector. The Scheme has the potential to deliver real positive change to communities across the UK and our industry both warmly supports the initiative and is committed to exploring participating at the earliest opportunity.

“The Dormant Assets Scheme is an important opportunity for our industry to come together with government and deliver a positive, measurable social and environmental impact.”

The Dormant Assets Scheme has successfully released £1 billion to date to support thousands of frontline organisations and individuals in some of the most disadvantaged communities across the country. Funding has been channelled into a range of initiatives including tackling youth homelessness, supporting charities with the cost of living and breaking down barriers to financial inclusion to help vulnerable groups.

The £440 million package announced today represents a significant uplift with an estimated £90 million over previously announced figures set to become available through the Scheme in England by 2028.

Allocations set out in the Strategy will drive forward the growth and opportunity missions in the government’s Plan for Change, with full distributions to include:

£132.5 million for young people with funding going to services, facilities and opportunities to provide them with the skills and resources needed to succeed

£132.5 million for financial inclusion and education, equipping individuals with the tools and knowledge to build financial security

£87.5 million for social investment to strengthen the financial resilience of the voluntary sector, including £12.5 million reaching organisations that support youth outcomes

£87.5 million for community wealth funds, which will empower local people to make decisions about their communities, creating stronger neighbourhoods.

Notes to editors:

The Dormant Assets scheme redirects money from long-unused financial accounts to social causes, while preserving the original owners’ right to reclaim their funds.

The Dormant Assets Strategy sets out this government’s bold vision for the pioneering Dormant Assets Scheme, unlocking funds to support the communities who need it most and is available to view here.

The Strategy for the Scheme is centered around three long-term objectives:

Achieving long-term systems change through innovative programmes.

Protecting the integrity of the Scheme and its funding.

Becoming the best practice standard mechanism to deal with dormancy.

The Strategy reaffirms the importance of the collaboration between government and the financial services sector to make a success of the Dormant Assets Scheme

Last year, the government committed between the four named causes of the Scheme – financial inclusion, youth, social investment and community wealth funds – to break down barriers and drive growth as part of the Government’s Plan for Change.

Participants in today’s roundtable included representatives from JP Morgan, Schroders, AON, Jupiter Asset Management, Aberdeen Group, alongside industry champions from across banking, investment, wealth management, insurance and pensions sectors.

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Published 2 June 2025
MIL OSI United Kingdom –
June 2, 2025

MIL-OSI: MoonFox Data Releases New Report: Pop Mart’s Emotional Consumption Model Drives Global Expansion and Record Growth

Source: GlobeNewswire (MIL-OSI)

Shenzhen, June 02, 2025 (GLOBE NEWSWIRE) — [Shenzhen, China] – [June 1, 2025] – MoonFox Data, a leading provider of market intelligence and data analytics, today released its latest report, “Pop Mart Business Decoded: Measuring the Value of Emotional Consumption.” The report reveals how Pop Mart, a pioneer in the pop toy industry, has leveraged emotional consumption and IP innovation to achieve record-breaking growth and global expansion in 2024 and 2025.

The year 2025 is undoubtedly a landmark year for Pop Mart. At the end of March, the company released financial results that drew wide attention across the industry: Pop Mart’s 2024 revenue exceeded RMB 13 billion, a fivefold increase since its listing on the HKEX in 2020. Just before the Labor Day holiday, the Pop Mart app topped the U.S. App Store shopping chart for the first time, with American consumers queuing overnight to purchase new releases. Despite tariff pressures, its new products continued to see rapid growth overseas…

16 years after its founding, Pop Mart’s ambition to “become a global super IP” is gradually materializing. What was once a trend-led toy store has transformed into a spiritual refuge for young people. So how exactly has Pop Mart captured the hearts of youth both in China and abroad? And what challenges lie ahead?

I. A Look Back: Repeated Comebacks in Brand Development

1. In the Early Stages, Focused Track and Model Innovation Drove Growth

Founded in 2010, Pop Mart began as an offline “trendy variety store” and struggled to survive amid the rise of e-commerce. In 2015, the founder drew inspiration from Japan’s blind box trend and introduced the popular Hong Kong pop toy BabyMolly to the Chinese mainland market. Pop Mart also secured domestic distribution rights for Japan’s Sonny Angel, successfully pivoting from a variety store to a curated pop toy store.

However, in the following year, the termination of several IP licensing agreements forced the company to pivot again. Pop Mart began aggressively seeking collaborations with original designers to acquire copyright partnerships. In 2016, it launched its own IP blind box product, the Molly Zodiac Series, which became a growth driver. At the time, Pop Mart’s pop toy model of fast product rotation, bulk sales, and the blind box mechanism was a novelty that disrupted the traditional toy market. From then on, Pop Mart shifted from an offline retail distributor to an IP operator, with Molly becoming its signature icon.

2. After Going Public: Diversification to Break the Revenue Ceiling

Pop Mart entered the overseas market in 2018 and continued its steady revenue growth after its 2020 IPO. However, from 2020 to 2022, its gross profit margin declined continuously. By 2022, Pop Mart hit a growth bottleneck, with negative product reviews on social media indicating weakening consumer interest in blind boxes.

In 2022, Pop Mart’s gross profit margin dropped by 4%, and operating profit fell by 49%. Domestically, revenue declined not only due to pandemic-related disruptions to offline store sales, but also because of a slump in online channel performance.

Table 1: Pop Mart Annual Revenue and Profit Changes (2018 – 2024)

Year	Revenue	Gross Profit	Operating Profit	Gross Profit Margin		Revenue Growth		Gross Profit Growth		Operating Profit Growth
2018	0.51 billion	0.3 billion	0.13 billion	57.9	%	225	%	296	%	2951	%
2019	1.68 billion	1.09 billion	0.6 billion	64.8	%	227	%	266	%	348	%
2020	2.51 billion	1.59 billion	0.72 billion	63.4	%	49	%	46	%	20	%
2021	4.49 billion	2.76 billion	1.15 billion	61.4	%	79	%	73	%	60	%
2022	4.62 billion	2.65 billion	0.58 billion	57.5	%	3	%	-4	%	-49	%
2023	6.3 billion	3.86 billion	1.23 billion	61.3	%	36	%	46	%	111	%
2024	13.04 billion	8.71 billion	4.15 billion	66.8	%	107	%	125	%	238	%

Data Source: Company financial reports, compiled by MoonFox Research Institute.

Table 2: Pop Mart Annual Online and Offline Revenue Changes (2020 – 2024)

Year	Online Channel Revenue	YoY		Offline Channel Revenue	YoY
2020	0.95 billion	77	%	1.33 billion	35	%
2021	1.9 billion	100	%	2.14 billion	61	%
2022	1.92 billion	1	%	2.22 billion	4	%
2023	1.68 billion	-12	%	3.85 billion	74	%
2024	4.15 billion	147	%	7.6 billion	97	%

Data Source: Company financial reports, compiled by MoonFox Research Institute.

In 2023, as offline economic activity rebounded, Pop Mart’s diversified business strategy began to show results. Its commitment to deepening overseas markets and refining IP operations laid the foundation for a strong performance in both 2024 and 2025.

On one hand, the brand’s overseas expansion has become a key secondary growth driver. While revenue from Hong Kong, Macao, Taiwan, and overseas markets accounted for only 9.8% of total revenue in 2022, this proportion rose to 38.9% by 2024. Pop Mart has expanded its network of international concept stores across Southeast Asia, Europe, and North America, growing the total number of overseas stores to 130.

Table 3: Number of Pop Mart Physical Stores in Hong Kong, Macao, Taiwan, and Overseas (2020 – 2024)

Year	Number of Stores	Number of Robot Shops	New Countries Entered	Overseas Theme Stores
2020	1	No statistics	South Korea
2021	7	9	Singapore and other Southeast Asian countries
2022	43	120	UK, New Zealand, USA, Australia
2023	80	159	France, Malaysia, Thailand, Netherlands
2024	130	192	Vietnam, Indonesia, Philippines, Italy, Spain	Louvre Theme Store (Paris) K-POP Theme Store (South Korea) CRYBABY Theme Store (Thailand)

Data Source: Company financial reports, compiled by MoonFox Research Institute.

Table 4: Pop Mart’s Revenue of Hong Kong, Macao, Taiwan, and Overseas (2021 – 2024)

2021 – 2024 Annual Revenue of Hong Kong, Macao, Taiwan, and Overseas
Year	Revenue	Proportion		Growth Rate
2021	1.9	4.10	%	156	%
2022	4.5	9.80	%	137	%
2023	10.7	16.90	%	138	%
2024	50.7	71.30	%	374	%
2021 – 2024 Revenue Breakdown by Channel of Hong Kong, Macao, Taiwan, and Overseas (RMB 100 million)
Year	Offline Channel	Online Channel		Wholesale & Other Channels
2021	0.1	0.4		1.4
2022	1.5	0.9		2.1
2023	6.4	1.6		2.7
2024	30.7	14.6		5.4
2024 Regional Revenue Distribution of Hong Kong, Macao, Taiwan, and Overseas (RMB 100 million)
Region	Revenue	Proportion		Growth Rate
Southeast Asia	24	47.40	%	619	%
East Asia & Hong Kong, Macao, Taiwan	13.9	27.40	%	185	%
North America	7.2	14.30	%	557	%
Europe, Oceania & Others	5.5	10.90	%	311	%

Data Source: Company financial reports, compiled by MoonFox Research Institute.

On the other hand, the company has shifted its focus from pursuing rapid product launches and expanding the number of IPs to prioritizing IP quality. The period from 2020 to 2022 marked a critical phase of supply chain upgrades for Pop Mart, including greater supply chain flexibility, digital transformation of warehousing and logistics, the establishment of self-owned factories, and overseas warehouse construction, all of which laid a strong foundation for future growth. Around 2023, Pop Mart began transforming its overseas business model by bypassing intermediary distributors and transitioning to a DTC (Direct-to-consumer) approach. This shift significantly improved the company’s ability to reach global consumers quickly. As a result, e-commerce revenue from overseas independent platforms surged in 2024.

Table 5: 2024 Pop Mart’s Online Revenue in Hong Kong, Macao, Taiwan, and Overseas Markets

Online Channel	Revenue (RMB 1 million)	Proportion		Growth Rate
Pop Mart Official Website	531	36.50	%	1246	%
Shopee	324	22.30	%	656	%
TikTok	262	18.00	%	5780	%
Other Online Channels	338	23.20	%	389	%

Data Source: Company financial reports, compiled by MoonFox Research Institute.

II. Building Deeper Connections with Consumers: Accelerating IP Universe Development Through User Value Alignment

1. From the “Lipstick Effect” to a Lifestyle Brand: Cultivating Long-Term Consumption Habits

Pop Mart has mastered the art of the blind box model. Before the product launch, intensive marketing campaigns are carried out, with each figurine being given a complete backstory. However, the blind box purchasing model extends the time it takes for consumers to have their expectations met. The unboxing experience after purchase creates delayed gratification and a sense of emotional reward. Meanwhile, the inherent consumer instinct to collect or complete a series further drives repeat purchases. While the inclusion of “hidden” editions creates an illusion of “scarcity”, adding perceived collectible value while stimulating consumer desire to purchase.

With low individual costs, intricate design, rapid product updates, and wide variety, consumers often become “loyal fans” without realizing it. Generation Z, who value emotional expression and self-exploration, are willing to pay for emotional fulfillment. Character-driven dolls and figurines have become tools for self-solace. Meanwhile, the use of social media further transforms blind boxes into a form of social currency. From celebrities and macro influencers to niche KOLs and even KOCs of WeChat Moments, posting about figurines, unboxing videos, and product swaps has spurred enthusiasm and imitation among fans.

Meanwhile, Pop Mart has deepened its IP development, expanding beyond toys into lifestyle products. For example, its original IP “HIRONO” features a rebellious child character whose lonely and aggrieved expressions still convey a defiant spirit, an image that has won over many fans. By 2025, the IP had evolved to its seventh generation, with related merchandise extending beyond blind boxes to include a wide range of products such as apparel, home goods, and digital accessories. In addition to blind boxes, “HIRONO” has expanded to apparel, home goods, and tech accessories. It also engages users emotionally through animated shorts, offline sculptures, and art exhibitions.

Table 6: Revenue Contribution of “HIRONO” IP

Revenue in 2024	Revenue Share		Revenue in 2023	Revenue Share		YoY Growth
0.73 billion	5.60	%	0.35 billion	5.60	%	106.9	%

Data Source: Company financial reports & public data, compiled by MoonFox Research Institute.

2. From Emotional Value to Cultural Identity: Brand Consumption as a Form of Self-Expression

In 2025, American consumers queued overnight for LABUBU from the classic IP “THE MONSTER”, known for its mischievous grin and dark aesthetic, a sharp contrast to Pop Mart’s other characters. Initially positioned as a “forest sprite”, LABUBU saw modest success until a 2024 rebranding introduced plush-skinned vinyl dolls that went viral in Thailand and later gained traction in China.

Today, LABUBU is not only a crowd favorite at Pop Mart’s themed parks but also a global “symbol of subculture”. The character’s sharp teeth, heterochromatic eyes, and dark style wrapped in soft textures challenge mainstream beauty standards, echoing youth subculture’s desire to break norms. On global social media platforms, celebrities like LISA, Rihanna, and Dua Lipa have been seen with LABUBU dolls, while fans engage in remakes and cosplay to express individuality.

Table 7: Revenue Contribution of “THE MONSTER” IP

Revenue in 2024	Revenue Share		Revenue in 2023	Revenue Share		YoY Growth
3.04 billion	23.30	%	0.37 billion	5.80	%	726.6	%

Data Source: Company financial reports & public data, compiled by MoonFox Research Institute.

Through diversified operations and refined strategies, Pop Mart is steadily constructing an IP universe that meets consumer needs in socialization, emotional expression, and self-identity.

Its in-house IP operations are now more finely segmented by target audience and product type, with distinct strategies for blockbuster development. For high-end consumers and international markets, Pop Mart strengthens its collaborations with cultural IPs across various fields, collaborating with cultural IPs, such as Chinese intangible heritage artists and British pop artists, producing limited editions (primarily under the MEGA line) that emphasize collectability and cultural expression. For mass-market consumers, collaborations between original IPs and fast fashion, coffee and beverage brands, and anime/gaming franchises have become routine, integrating Pop Mart products into daily life. Overseas, store design increasingly incorporates local cultural elements, offering immersive experiences, such as Korea’s K-POP theme store and France’s Louvre theme store, and launching regional co-branded limited editions to lower the threshold for cross-cultural interaction among consumers from different regions.

On the operational front, the growth of figurine revenues has slowed in recent years. To adapt, the company has launched new product lines, including Molly Beans, plush toys, and the MEGA series. In 2024, plush and MEGA categories accounted for 35% of revenue and showed rapid growth, now forming a major revenue pillar. In physical retail, Pop Mart is expanding from pure retail to experiential offerings. Beyond traditional stores and vending machines, more themed parks, pop-up stores, and curated art exhibitions are being introduced to enhance customer engagement.

III. Cracks beneath the Billion-RMB Myth

The booming pop toy industry is becoming increasingly competitive, with multiple players racing to innovate on both product and concept. As consumer aesthetics continue to evolve, this intensifies pressure on leading brands. TOPTOY, a pop toy chain under MINISO founded in 2020, has rapidly expanded into lower-tier cities with its more affordable pricing and iconic IP offerings. By the end of 2024, TOPTOY had opened 276 retail stores nationwide, generating over RMB 980 million in annual revenue. Meanwhile, classic international IPs are enjoying a resurgence in the Chinese market. In 2024, merchandise related to Harry Potter, the Disney 100th Anniversary, and Chiikawa surged in popularity, posing a growing challenge for the breakout success of original IPs. Backed by this trend, MINISO has leveraged the influence of established IPs to drive both revenue and brand recognition. The 2024 financial report shows the total revenues exceeding RMB 17 billion, a 22.8% YoY increase.

Turning the lens back to Pop Mart itself, managing the lifecycle of original IPs, and the handoff between older and newer IPs, remains a critical challenge for pop toy companies to build their “super IPs”. Pop Mart has been launching original IPs for over a decade. Iconic characters such as Molly, LABUBU, and THE MONSTER have recently reignited consumer interest through new product categories and refreshed designs. At the same time, many emerging IPs have gained visibility and emotional resonance with post-2000s and even younger generations. As Pop Mart’s portfolio of original IPs continues to expand, more of these properties will face the challenge of prolonged life cycles in the future. Maintaining innovation and consistently creating hit products that resonate with the evolving preferences of young consumers will become a long-term challenge for the brand’s development.

Overall, Pop Mart has successfully pioneered a business model that monetizes emotional value, anchoring its revenue growth in rich content and cultural significance. Its strong in-house production capabilities and DTC strategy have accelerated its reach among global consumers. While recent revenue surges are not a fleeting phenomenon, they do not come without risk. Looking ahead, Pop Mart must continue to enhance its content innovation capabilities to keep its IPs vibrant. Only by maintaining a careful balance between innovation and legacy, and between emotional appeal and cultural expression, can the brand sustain high growth and realize its long-term ambition of becoming a “super IP” powerhouse.

About MoonFox Data

As a sub-brand of Aurora Mobile, MoonFox Data is a leading expert in data insights and analysis services across all scenarios. With a comprehensive, stable, secure and compliant mobile big data foundation, as well as professional and precise data analysis technology and AI algorithms, MoonFox Data has launched iAPP, iBrand, iMarketing, Alternative Data and professional research and consulting services of MoonFox Research, aiming to help companies gain insights into market growth and make accurate business decisions.

About Aurora Mobile

Aurora Mobile (NASDAQ: JG) established in 2011, is a leading customer engagement and marketing technology service provider in China. Its business includes notification services, marketing growth, development tools, and data products.

For Media Inquiries:
Contact: zhouxt@jiguang.cn | Website: http://www.moonfox.cn/en

The MIL Network –

June 2, 2025

MIL-OSI Video: Water at a Tipping Point

Source: World Economic Forum (video statements)

Water systems are reaching a tipping point, with increasing floods and droughts affecting multiple regions globally. In five years, it is estimated that half the world will face water stress, jeopardizing productivity, public health and food security, and threatening $1.6 trillion in assets.

How can we leverage technology, governance and finance innovations to avoid or manage water tipping points?

This is the full audio from a session at the Annual Meeting 2025 in Davos.

Watch it here: https://www.weforum.org/meetings/world-economic-forum-annual-meeting-2025/sessions/water-at-a-tipping-point/

Speakers:

Fajer Mushtaq, Co-Founder and Chief Executive Officer, Oxyle Christophe Beck, Chairman and Chief Executive Officer, Ecolab Sherry Madera, Chief Executive Officer, CDP Fabrizio Palermo, Chief Executive Officer and General Manager, Acea Jessika Roswall, Commissioner for Environment, Water Resilience and a Competitive Circular Economy, European Commission

Catch up on all the action from the Annual Meeting 2025 at wef.ch/wef25 and across social media using the hashtag #WEF25.

Check out all our podcasts on wef.ch/podcasts: YouTube: – https://www.youtube.com/@wef/podcasts Radio Davos – subscribe: https://pod.link/1504682164 Meet the Leader – subscribe: https://pod.link/1534915560 Agenda Dialogues – subscribe: https://pod.link/1574956552 Join the World Economic Forum Podcast Club: https://www.facebook.com/groups/wefpodcastclub

https://www.youtube.com/watch?v=ZdEo-vj3sCg

MIL OSI Video –

June 2, 2025
MIL-OSI Africa: African Petroleum Producers Organization (APPO) Secretary General Joins Angola Oil & Gas (AOG) 2025 Ahead of Energy Bank Launch

Source: Africa Press Organisation – English (2) – Report:

CAPE TOWN, South Africa, June 2, 2025/APO Group/ —

Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organization (APPO), will speak at this year’s edition of the Angola Oil & Gas (AOG) conference – the country’s premier industry event, scheduled for September 3-4 in Luanda. Ibrahim’s return to the conference reflects his commitment to supporting oil and gas projects in the country and comes as the organization prepares to launch the Africa Energy Bank (AEB) – a financial institution created in partnership with the African Export-Import Bank (Afreximbank).

Established with the aim of improving access to financing for African oil and gas projects, the AEB is on track to commence operations in June 2025, with the finalization of key arrangements made in April 2025. Headquartered in Abuja, Nigeria, the bank will have an initial capitalization of $5 billion, supported by an $83 million commitment made by each APPO member state. As of March 2025, three member countries – Angola, Nigeria and Ghana – had contributed, reflecting the support from some of Africa’s biggest oil and gas producers. At AOG 2025, Ibrahim is set to share insight into the role the institution will play in markets such as Angola and how improved financing can support regional fuel security.

AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

As sub-Saharan Africa’s second largest oil producer, Angola strives to sustain oil production above one million barrels per day beyond 2027. In tandem, the country aims to bolster gas monetization, with its first non-associated gas project – led by the New Gas Consortium – coming online in late-2025 or early-2026. Through a multi-year strategy, improved fiscals and an upcoming Gas Master Plan, the country is incentivizing spending across the entire oil and gas value chain. The AEB will support these goals by offering project developers the requisite financing to accelerate exploration, production and project development.

Operating as a development finance institution, the AEB will focus on Africa. The bank will have three classes of shareholders, with Class A featuring founding countries, APPO member states and Afreximbank; Class B consisting of other African countries, alongside their national oil companies; and Class C being reserved for individual and corporate investors outside of the continent. This structure offers access to a wide investment pool and reflects the drive by APPO and Afreximbank to support African oil and gas developments. AOG 2025 offers a strategic platform for project developers in Angola to gain insight into financing opportunities made possible through the AEB. Ibrahim’s participation will not only provide a greater understanding of the role the bank can play in the country but foster dealmaking in Angola as companies seek new financing mechanisms to expand their portfolios.

MIL OSI Africa –

June 2, 2025
MIL-OSI USA: Congressman Krishnamoorthi Visits Rockford to Highlight How Trump’s Tariffs are Hurting Illinois Small Businesses and Workers

Source: United States House of Representatives – Congressman Raja Krishnamoorthi (8th District of Illinois)

Latest stop on Krishnamoorthi’s “Trump Tariff Tour” underscores toll on manufacturing jobs and local economies

ROCKFORD, IL – Today, Congressman Raja Krishnamoorthi (D-IL) continued his “Trump Tariff Tour” with a visit to a warehouse operated by Milescraft, a family-owned power tool manufacturer. During the visit, Congressman Krishnamoorthi toured the facility with Milescraft CEO Simon Karkosch and spoke to members of the press about how President Trump’s blanket tariffs are driving up costs, stifling growth, and forcing Illinois businesses to make painful decisions, including layoffs.

“At Milescraft and across our state, the real cost of Donald Trump’s tariff war is being paid by small businesses and working families,” Congressman Krishnamoorthi said. “These blanket tariffs aren’t targeting bad actors or protecting American jobs; they’re raising prices, slashing margins, and threatening the very businesses and workers that keep our local economies going. This isn’t smart economic policy. It’s time to put Illinois jobs and families first by ending this destructive tariff policy.”

Founded in 2002, Milescraft has grown from a small Original Equipment Manufacturer (OEM) into a leading designer of woodworking tools and power tool accessories. The company now produces and distributes hundreds of products each year. However, under the burden of President Trump’s tariffs, they’ve been forced to cut jobs and grapple with rising input costs. According to recent projections, if all of President Trump’s proposed tariffs are implemented, they could cost the average American household more than $4,400 annually. Already, the Budget Lab at Yale estimates that the 2025 tariffs have increased consumer prices by 2.3 percent, reducing household purchasing power by $3,800 per year on average. Illinois in particular faces significant exposure, with over $82 billion in imports from Canada and Mexico — the state’s two largest trading partners — at risk from these tariffs.

Congressman Krishnamoorthi launched his Trump Tariff Tour last month at Testa Produce in Chicago, followed by stops at Kindred Farms in Atlanta and Cloud Mountain Kombucha Brewery in Urbana. At each stop, he has heard directly from those on the front lines of Illinois’ economy — and pledged to keep fighting for fair trade policies that protect working families and small businesses, not punish them.

MIL OSI USA News –

June 2, 2025
MIL-OSI USA: Congressmen Krishnamoorthi and Moore Reintroduce Bipartisan Legislation to Bring Electronics Manufacturing to America and Strengthen Supply Chains
Source: United States House of Representatives – Congressman Raja Krishnamoorthi (8th District of Illinois)

WASHINGTON – Congressmen Raja Krishnamoorthi (D-IL) and Blake Moore (R-UT) have reintroduced bipartisan legislation to bolster domestic printed circuit board (PCB) and integrated circuit substrate production, which will strengthen U.S. supply chain security in a critical technology sector. The Protecting Circuit Boards and Substrates Act will encourage domestic PCB manufacturing and R&D to reduce supply chain disruptions, address national security concerns related to foreign PCB production, and further enhance America’s economic leadership.

“While we’ve made real progress in domestic chip production, microchips can’t function without printed circuit boards – 90% of which are made in Asia, including half in the People’s Republic of China,” Congressman Krishnamoorthi said. “Our bipartisan bill reduces that dangerous dependence by rebuilding U.S. manufacturing, strengthening supply chains, and supporting American workers.”

“There has never been a more important time for Congress to get to work on reshoring our manufacturing and strengthening our critical supply chains,” Congressman Blake Moore said. “The Chinese government’s open willingness to withhold access to technology and rare earth minerals proves that we are in a race against Beijing at all levels of the microelectronics ecosystem. This bill provides a tried-and-true approach to incentivizing American companies to produce printed circuit boards here at home: it will maintain the integrity of military and national security commercial materials, boost our economy and workforce, and usher in a new era of American manufacturing. I am grateful to reintroduce this bill with Congressman Krishnamoorthi and am hopeful this bipartisan effort will successfully move through the legislative process.”

“The PCBs Act addresses a critical and long-overlooked weakness in America’s electronics supply chain,” John W. Mitchell, IPC President and CEO, said. “Every electronic device relies on PCBs and substrates, but the U.S. no longer has the capabilities or capacity to meet current demand, much less address future technology requirements. This bill is a vital step toward rebuilding the nation’s ability to manufacture electronics from silicon to systems—an essential foundation for innovation, security, and economic strength.”

“Remember, chips don’t float. They need printed circuit boards and substrates to connect to any electronic device. With production of American-made semiconductors ramping up, we need to do the same for PCBs. Without a concurrent increase in support for PCBs and substrates, those new American-made chips travel to Asia to be packaged with Asian-made PCBs and substrates,” Shane Whiteside, Chairman of the Printed Circuit Board Association of America (PCBAA) and CEO of Summit Interconnect, said. “We need to end our over reliance on Asia through public and private investment. This bill will set that in motion.”

“From F-35s to F-150s, the modern world is built on printed circuit boards, and we need to make more of them in America,” David Schild, Executive Director of PCBAA, said. “This bill will lead to new factories, high paying jobs and an ecosystem to support the work being done by our colleagues in the semiconductor industry.”

Background

Printed circuit boards (PCBs) are the material on which semiconductors sit (often the green-colored surface in images of chips) and are a critical part of the supply chain. An assessment from the Departments of Commerce and Homeland Security called for domestic investment and production of key information and communications technology products such as PCBs.

The Protecting Circuit Boards and Substrates Act includes the following provisions to incentivize domestic PCB manufacturing and R&D:
1. Provides a 25% tax credit for the purchase or acquisition of American-made PCBs;
2. Establishes a financial assistance program, modeled on the CHIPS for America Act, for American facilities manufacturing or researching PCBs;
3. Requires a Presidential determination for single financial awards over $150 million;
4. Provides for delay and technology clawbacks of award funds in the event that funding is not used efficiently or in a manner that raises national security concerns;
5. Authorizes appropriations of $3 billion to carry out the program.
MIL OSI USA News –
June 2, 2025
MIL-OSI USA: Congressman DeSaulnier Announces Advancement of $35 Million for Projects to Benefit Contra Costa and Alameda Counties
Source: United States House of Representatives – Congressman Mark DeSaulnier Representing the 11th District of California

Washington, D.C. – Today, Congressman Mark DeSaulnier (CA-10) announced that he advanced 15 projects totaling over $35 million to benefit Contra Costa and Alameda Counties for consideration by the U.S. House Committee on Appropriations as part of the Fiscal Year 2026 appropriations process. These projects would help to support public health and safety, transportation accessibility and community development, and environmental protection and sustainability in California’s 10^th Congressional District. Each year Congress provides Member-directed federal funding to a select number of Community Projects through the appropriations process. Under this process, each House member is allowed to submit 15 project requests on behalf of their Congressional District to the Appropriations Committee that meet the criteria set forth by the Committee.

“I am proud to again advance over $35 million in funding that would directly benefit communities in Contra Costa and Alameda Counties by making our roads safer and more accessible, improving our outdoor spaces, providing cost-savings and environmental benefits through sustainability, and bolstering protection from crime and natural disasters,” said Congressman DeSaulnier. “I appreciate the effort of and collaboration with our local governments and organizations in submitting these projects, and I will continue to fight to see them through this legislative process and get the funding delivered to our district.”

“We are grateful for Congressman DeSaulnier’s leadership in advancing five projects that will improve safety, emergency response, and transportation infrastructure in Contra Costa County. These critical investments will ensure that Contra Costa continues to be a safe and welcoming place for residents and businesses to thrive. We appreciate the Congressman’s foresight in selecting these projects, which offer regional benefits to our community,” said Candace Andersen, Chair of the Contra Costa County Board of Supervisors.

“Central San wishes to express our sincere gratitude to Congressman DeSaulnier for championing our Ultraviolet (UV) Disinfection Replacement Project. This critical project will provide direct community benefits by improving the resiliency of Central San’s wastewater operations during extreme weather events and significantly reducing its energy footprint. This federal funding will support the transition to a state-of-the-art UV system that will make the wastewater treatment plant more sustainable and energy efficient because it will decrease energy use and meaningfully reduce greenhouse gases produced annually,” said Roger Bailey, General Manager of Central Contra Costa Sanitary District.

“For truly safe and stable communities, we must make robust investments in public safety, including preventing and prosecuting organized retail theft and fighting labor trafficking. Efforts like the Healing and Justice for Survivors of Labor Trafficking program are designed to significantly increase funding for the number of Victim Witness Unit staff, allowing them to better provide education, outreach, and support for survivors. Congressman Mark DeSaulnier’s success in securing this crucial funding demonstrates his deep understanding of these fundamental needs,” said Diana Becton, District Attorney, Contra Costa County.

“We appreciate the support from Congressman DeSaulnier in advancing our Community Project Funding request to provide resilient and modern emergency power infrastructure to support the East Bay Regional Communications System. This project will have a direct impact on improving the public safety radio infrastructure for our firefighters, ambulance crews, and all first responders throughout Contra Costa County and northern Alameda County. Congressman DeSaulnier is helping us to keep our communities and our first responders safe with this critical infrastructure investment,” said Lewis Broschard, Fire Chief, Contra Costa County Fire Protection District.

“Investing in energy-efficient storage infrastructure ensures County Connection can power our future fleet with greater reliability and lower costs. This system strengthens our ability to deliver vital transit service during emergencies and supports a cleaner, more resilient future for our community. We’re grateful that Congressman DeSaulnier shares our commitment to sustainability and smart investment in local transit,” said Bill Churchill, General Manager, Central Contra Costa County Transit Authority.

“We are extremely grateful to be included for consideration; upgrading our officer’s body worn cameras is an important public safety project for our residents and our police department,” said Cindy Darling, Mayor of Walnut Creek.

“The Contra Costa Transportation Authority (CCTA) sincerely appreciates Congressman DeSaulnier’s continued support in advancing innovative transportation solutions in our county. This critical funding will allow CCTA to implement smart signal technology in the Cities of Antioch and Oakley, enabling signal synchronization, enhanced traffic flow, and smooth congestion. The upgraded system will also prioritize transit and emergency vehicles and support countywide efforts to achieve Vision Zero goals,” said Tim Haile, Executive Director, Contra Costa Transportation Authority.

“The City of Dublin is proud to have Congressman DeSaulnier’s support for our Community Project Funding Request for the Village Parkway Reconstruction and Complete Streets Project. This important project will address critical infrastructure needs by resurfacing roads, improving bicycle access, enhancing safety, and upgrading sidewalks near Dublin High School. Once complete, Village Parkway will be a significantly safer and more accessible corridor for all who live, work, and travel in Dublin,” said Sherry Hu, Mayor of Dublin.

“We are grateful for Congressman DeSaulnier’s vital support of this critical project. Upgrading our emergency generators will significantly enhance the resilience of the communication systems our first responders rely on during emergencies and disasters,” said Jon King, Board Chair, East Bay Regional Communications System Authority.

“Thanks to Congressman DeSaulnier’s support, the Marsh Drive Class I Bikeway Project will close a 1.3-mile gap in Contra Costa County’s expansive bicycle network, providing the residents of Pacheco and Martinez a low-stress and multi-use bicycle and pedestrian facility that connects to the 32-mile Iron Horse Regional Trail, improving connectivity to neighboring jurisdictions such as the City of Concord and City of Pleasant Hill, while also improving access to recreational areas such as the lower Walnut Creek channel and Pacheco Marsh. The project will help Contra Costa County achieve its ambitious “Vision Zero” safety goal of having zero fatalities or severe injuries along its road network,” said Warren Lai, Director, Contra Costa County Public Works.

“We greatly appreciate Congressman DeSaulnier championing the Treat Boulevard Corridor Improvements Project, a multi-modal project that will construct bicycle lanes and enhanced pedestrian infrastructure along Treat Boulevard in the Contra Costa Centre Transit Village of Walnut Creek. The Treat Boulevard Corridor Improvements will provide a critical connection to the region’s 32-mile Iron Horse Regional Trail and active transportation options for commuters and residents of Walnut Creek. This project will transform the road corridor into a model example of complete streets design, improving connectivity to light rail transit (Bay Area Rapid Transit, or BART, Pleasant Hill/Contra Costa Centre Station), high-density housing, and thousands of jobs, further supporting economic, health, and transportation benefits for the Contra Costa Centre and Walnut Creek areas,” said Warren Lai, Director, Contra Costa County Public Works.

“This is more than a park project – it’s about honoring history, creating access, and supporting public spaces which will serve generations to come. The South of Bailey Road Community Development Project will open 890 acres of land to the public at Thurgood Marshall Regional Park – Home of the Port Chicago 50, laying the foundation for a regional destination rooted in community and remembrance. We deeply appreciate Representative DeSaulnier’s leadership in moving this vision forward,” said Sabrina Landreth, General Manager, East Bay Regional Park District.

“We are deeply grateful that Congressman DeSaulnier has again selected our Ocean Ambassadors educational program for consideration for Community Project Funding through the Appropriations Committee,” said Cecily Majerus, Chief Executive Officer, The Marine Mammal Center. “Environmental literacy is crucial. This critical funding support would allow the Center to expand our Ocean Ambassadors in Contra Costa County—bringing high-impact, standards-aligned marine science learning to more classrooms through educator training, coaching, and peer mentoring.”

“The Danville Townwide Fiber project is a transformative step toward a more connected and resilient community. By expanding our fiber infrastructure, we are ensuring that Danville’s traffic systems are smarter, safer, and prepared for the future,” said Renee Morgan, Mayor of Danville.

“We are grateful for Congressman DeSaulnier’s continued support and unwavering commitment to help Diablo Water District build a resilient water system capable of withstanding potential seismic risks to our underground transmission lines and above-ground steel reservoirs,” said Dan Muelrath, General Manager, Diablo Water District.

“On behalf of the City of Concord, I extend our sincere thanks to Congressman DeSaulnier for championing the effort to improve our Emergency Operations Center. His support is vital to addressing critical infrastructure needs that impact our emergency response and community safety. This funding will help transform the EOC into a modern, resilient facility that strengthens regional preparedness and protects lives. We deeply appreciate his leadership and commitment to public safety,” said Carlyn Obringer, Mayor or Concord.

Transportation Accessibility and Community Development Projects:
- $3,900,000 for the Town of Danville to install fiber optic cables and construct new conduit and junction boxes for 54 traffic signals in Danville to enable real-time traffic signal optimization to reduce traffic congestion and improve safety, and allow for future implementation of smart city technologies.
- $3,000,000 for the City of Dublin to improve safety and accessibility of Village Parkway by narrowing vehicle lanes, adding lighting, and constructing buffered bike lanes, wider sidewalks, and protected intersections.
- $2,000,000 for the Contra Costa County Public Works Department to create a separate bike path to fill a gap in the County-wide bicycle network along Marsh Drive in unincorporated Pacheco, which will improve safety for all road users and access to local commercial centers, recreational centers, and additional connections to the local mass transit system.
- $2,000,000 for the East Bay Regional Park District to construct visitor facilities such as restrooms, drinking fountains, public parking areas, and a turnout lane on Bailey Road to allow for the Thurgood Marshall Regional Park to be opened up to the public.
- $1,970,010 for the Contra Costa Transportation Authority (CCTA) to upgrade and develop a network of smart traffic signals between Antioch and Oakley to improve commute times, reduce delays, and ease congestion.
- $1,500,000 for the Contra Costa County Public Works Department to construct bicycle and pedestrian facilities on Treat Boulevard in the Contra Costa Centre Transit Village in Walnut Creek to close a critical gap along the Iron Horse Regional Trail, which would improve safety for non-motorized road users and improve connectivity for first and last mile connections to public transit and local commercial establishments.
Public Health and Safety Projects:
- $4,875,000 to the Diablo Water District to provide structural and foundational reinforcements to water infrastructure to mitigate risks associated with major seismic events, safeguard water supply, and contribute to the region’s overall disaster preparedness strategy.
- $3,649,671 to the City of Concord to make improvements to the Emergency Operations Center in Concord to ensure its longevity, efficiency, and resilience as it serves as a critical hub for bolstering regional preparedness, response, and recovery efforts during emergencies and disasters.
- $1,915,000 for the Contra Costa County Fire Protection District (Con Fire) to replace and install equipment, including backup generators, shore power plugs, and automatic transfer switches, at radio towers across Contra Costa County that are used for communication between law enforcement, fire, and emergency medical services to improve system reliability during emergencies and disasters that result in the loss of power.
- $1,000,000 to the City of Walnut Creek to purchase 120 body worn cameras, charging docks, and equipment to promote transparency, accountability, and public trust in the police department.
- $600,000 for the Contra Costa County District Attorney’s Office to create an Organized Retail Theft (ORT) Prevention and Prosecution Unit with the goal of addressing increased levels of retail theft crimes, helping local law enforcement better confront these types of crimes, and improving public safety.
- $500,000 for the Contra Costa County District Attorney’s Office to enhance the identification and referral of survivors of labor trafficking and cases of labor trafficking occurring in the County, increase the capacity of the District Attorney’s Office to investigate cases of labor exploitation and trafficking, and improve the quality and scope of services provided to underserved and marginalized victims of human trafficking.
Environmental Protection and Sustainability Projects:
- $4,000,000 to the Central Conta Costa Sanitary District (Central San) to upgrade the water treatment facility’s ultraviolet (UV) technology to reduce the energy footprint of water treatment and protect public health and water quality in the region.
- $4,000,000 to the Central Contra Costa Transit Authority (County Connection) to construct a battery system to allow the agency to charge its zero emission buses overnight, and provide a source of power to maintain operations during emergencies.
- $272,918 for the Marine Mammal Center to help build scientific literacy and environmental stewardship of the coastal zone for 2,7000 students and their teachers and to develop a pipeline for the future STEM workforce.
Selection and submission of projects to the Appropriations Committee is the first stage of the process for Community Project Funding. The projects are subject to a strict transparency and accountability process, which is detailed here by the Appropriations Committee. Examples of this vetting include certifying that Members have no financial interest in these projects, an audit of a sampling of these projects by the Government Accountability Office, and a requirement for demonstrated community support and engagement for each submission. More information on each project and the certifications of no financial interest can be found here.

#

MIL OSI USA News –
June 2, 2025
MIL-OSI Asia-Pac: Provisional statistics of retail sales for April 2025

Source: Hong Kong Government special administrative region

The Census and Statistics Department (C&SD) released the latest figures on retail sales today (June 2).

The value of total retail sales in April 2025, provisionally estimated at $28.9 billion, decreased by 2.3% compared with the same month in 2024. The revised estimate of the value of total retail sales in March 2025 decreased by 3.5% compared with a year earlier. For the first 4 months of 2025 taken together, it was provisionally estimated that the value of total retail sales decreased by 5.6% compared with the same period in 2024.

Of the total retail sales value in April 2025, online sales accounted for 8.1%. The value of online retail sales in that month, provisionally estimated at $2.3 billion, decreased by 3.5% compared with the same month in 2024. The revised estimate of online retail sales in March 2025 decreased by 0.5% compared with a year earlier. For the first 4 months of 2025 taken together, it was provisionally estimated that the value of online retail sales decreased by 2.2% compared with the same period in 2024.

After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales in April 2025 decreased by 3.3% compared with a year earlier. The revised estimate of the volume of total retail sales in March 2025 decreased by 4.7% compared with a year earlier. For the first 4 months of 2025 taken together, the provisional estimate of the total retail sales decreased by 7.2% in volume compared with the same period in 2024.

Analysed by broad type of retail outlet in descending order of the provisional estimate of the value of sales and comparing April 2025 with April 2024, the value of sales of commodities in supermarkets decreased by 2.4%. This was followed by sales of jewellery, watches and clocks, and valuable gifts (-1.7% in value); wearing apparel (-5.6%); motor vehicles and parts (-53.4%); fuels (-12.5%); footwear, allied products and other clothing accessories (-5.1%); furniture and fixtures (-16.7%); and optical shops (-0.2%).

On the other hand, the value of sales of other consumer goods not elsewhere classified increased by 13.4% in April 2025 over a year earlier. This was followed by sales of medicines and cosmetics (+7.2% in value); food, alcoholic drinks and tobacco (+3.0%); electrical goods and other consumer durable goods not elsewhere classified (+1.6%); commodities in department stores (+2.1%); books, newspapers, stationery and gifts (+11.7%); and Chinese drugs and herbs (+3.8%).

Based on the seasonally adjusted series, the provisional estimate of the value of total retail sales increased by 4.2% in the three months ending April 2025 compared with the preceding three-month period, while the provisional estimate of the volume of total retail sales increased by 7.1%.

Commentary

A government spokesman said that retail sales performance showed signs of stabilisation in recent months. The value of total retail sales recorded a modest year-on-year decline of 2.3% in April 2025. The decline narrowed further in April compared with the previous months despite the effect of the late arrival of the Easter holidays this year (in mid-April this year but in the junction of March and April last year) when more residents made outbound trips during the month.

Looking ahead, the spokesman said that the Government’s proactive promotion of tourism and mega events will help stimulate the consumption market. Increase in employment earnings and sustained steady growth of the Mainland economy will also bolster consumption sentiment. These factors will be supportive to the retail sector, though ongoing changes in consumption patterns and competition among businesses amid the uncertain macroeconomic environment will still pose challenges.

Further information

Table 1 presents the revised figures on value index and value of retail sales for all retail outlets and by broad type of retail outlet for March 2025 as well as the provisional figures for April 2025. The provisional figures on the value of retail sales for all retail outlets and by broad type of retail outlet as well as the corresponding year-on-year changes for the first 4 months of 2025 taken together are also shown.

Table 2 presents the revised figures on value of online retail sales for March 2025 as well as the provisional figures for April 2025. The provisional figures on year-on-year changes for the first 4 months of 2025 taken together are also shown.

Table 3 presents the revised figures on volume index of retail sales for all retail outlets and by broad type of retail outlet for March 2025 as well as the provisional figures for April 2025. The provisional figures on year-on-year changes for the first 4 months of 2025 taken together are also shown.

Table 4 shows the movements of the value and volume of total retail sales in terms of the year-on-year rate of change for a month compared with the same month in the preceding year based on the original series, and in terms of the rate of change for a three-month period compared with the preceding three-month period based on the seasonally adjusted series.

The classification of retail establishments follows the Hong Kong Standard Industrial Classification (HSIC) Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.

These retail sales statistics measure the sales receipts in respect of goods sold by local retail establishments and are primarily intended for gauging the short-term business performance of the local retail sector. Data on retail sales are collected from local retail establishments through the Monthly Survey of Retail Sales (MRS). Local retail establishments with and without physical shops are covered in MRS and their sales, both through conventional shops and online channels, are included in the retail sales statistics.

The retail sales statistics cover consumer spending on goods but not on services (such as those on housing, catering, medical care and health services, transport and communication, financial services, education and entertainment) which account for over 50% of the overall consumer spending. Moreover, they include spending on goods in Hong Kong by visitors but exclude spending outside Hong Kong by Hong Kong residents. Hence they should not be regarded as indicators for measuring overall consumer spending.

Users interested in the trend of overall consumer spending should refer to the data series of private consumption expenditure (PCE), which is a major component of the Gross Domestic Product published at quarterly intervals. Compiled from a wide range of data sources, PCE covers consumer spending on both goods (including goods purchased from all channels) and services by Hong Kong residents whether locally or abroad. Please refer to the C&SD publication “Gross Domestic Product by Expenditure Component” for more details.

More detailed statistics are given in the “Report on Monthly Survey of Retail Sales”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080003&scode=530).

Users who have enquiries about the survey results may contact the Distribution Services Statistics Section of the C&SD (Tel: 3903 7400; email : mrs@censtatd.gov.hk).

MIL OSI Asia Pacific News –

June 2, 2025
MIL-OSI Russia: By the end of May 2025, 17.7 million heads of breeding cattle had produced offspring in Mongolia

Translation. Region: Russian Federal

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

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

ULAN BATOR, June 2 (Xinhua) — By the end of May 2025, Mongolia’s breeding stock of cattle, or 17.7 million heads, counted at the beginning of the year, had produced offspring, local media reported on Monday, citing data from the country’s Ministry of Food, Agriculture and Light Industry.

“Thus, since the beginning of 2025, the number of young animals has increased by 17.5 million heads compared to the same period of the previous year,” the official statement says.

Livestock farming is one of the main levers of the Mongolian economy, as almost 40 percent of the country’s nomadic population depends on it.

However, due to the harsh and long winter, most of the Mongolian nomadic herders lose their livestock every year, which reduces their livelihood.

According to the National Statistical Committee of Mongolia, by the end of 2024, the total livestock population in the country decreased by 10.9 percent, amounting to 57.6 million heads. –0–

MIL OSI Russia News –

June 2, 2025
MIL-OSI USA: Seminar – Lunar Policy for a Thriving Lunar Economy
Source: US Government research organizations
The Department of Commerce Office of Space Commerce and NIST welcomes Dr. Antonino Salmeri, Director, Lunar Policy Platform, for a seminar and discussion on Lunar Policy for a Thriving Lunar Economy.

This seminar will focus on the role of lunar policy for a thriving lunar economy. The seminar will begin with an overview of the legal and policy framework, present priorities and policies for peaceful, safe, and sustainable lunar activities, and conclude with a case study on lunar information sharing. The seminar will be delivered by Dr. Antonino Salmeri, space lawyer specialized in the governance of space resources and lunar activities and Director of the Lunar Policy Platform.

Participants and attendees can expect the following outcomes:
1. gain a foundational understanding of the main legal framework and key policy developments applicable to lunar activities;
2. discover policy priorities and policy deliverables for peace, safety and sustainability on the Moon, supported by over 35 stakeholders;
3. learn about ongoing multilateral and multi-stakeholder efforts to streamline lunar information sharing, and how to participate.
Dr. Antonino Salmeri is a space lawyer specialized in the governance of lunar and space resource activities. He holds four advanced degrees in law and currently works as Director of the Lunar Policy Platform (LPP). Dr. Salmeri regularly advises governments and companies on international space law, policy, and diplomacy. In this capacity, he recently served as special advisor on lunar governance to the UN Office for Outer Space Affairs, contributing to the organization of the first UN Conference on Sustainable Lunar Activities and to the establishment of the Action Team on Lunar Activities Consultations (ATLAC) within the UN Committee on the Peaceful Uses of Outer Space.

Dr. Salmeri is the author of leading publications shaping the evolution of international space law and policy, including a book on the Multi Level Governance of Space Mining, the Lunar Policy Priorities Report, the Lunar Policy Handbook, the EAGLE Report, and The Hague Building Blocks. Dr. Salmeri’s contributions to the advancement of space law and astronautics have been recognized through several prestigious awards, such as the Young Space Leader Award of the International Astronautical Federation (IAF) and the Diederiks-Verschoor Award of the International Institute of Space Law (IISL).

Dr. Salmeri possess an extensive network in the space sector through his voluntary roles at major entities, such as Chair of the Space Generation Advisory Council (SGAC, period 2023 – 2025), Governing Member of the International Space University (ISU), member of the International Institute of Space Law (IISL), member of several technical and administrative committees of the International Astronautical Federation (IAF), and regular speaker at high level multilateral gatherings and major international events.

MIL OSI USA News –
June 2, 2025
MIL-OSI Europe: OSCE continues to promote green mobility through VI Cycling Marathon in Djizak

Source: Organization for Security and Co-operation in Europe – OSCE

Headline: OSCE continues to promote green mobility through VI Cycling Marathon in Djizak

The OSCE Project Co-ordinator in Uzbekistan (PCUz) organized the VI Cycling Marathon for preschool children on 30 May 2025 in Djizak, marking another step in its ongoing efforts to promote environmental awareness, sustainable mobility and healthy lifestyles.
This annual initiative brought together 100 children and their families, highlighting the importance of early environmental education and active living.
“The Cycling Marathon takes place on the eve of International Children’s Day. This reminds us that we have to work against climate change now. We must not steal the right to a clean and safe environment from our children,” said Ambassador Antti Karttunen, Head of Office of PCUz.
Earlier this year, the PCUz donated 500 balance bicycles to preschool educational institutions in the Djizak region. In addition, instructors and educators were coached to provide cycling training in accordance with international practices, ensuring children develop essential motor and co-ordination skills through fun and safe eco-friendly activities.
By encouraging the use of green transport and raising awareness about environmental protection, the PCUz supports Uzbekistan’s transition to a green economy and promotes sustainable development values from an early age. This sixth edition of the cycling marathon follows successful events held in Tashkent, Samarkand, Khiva, Nukus and Namangan.
The marathon was opened jointly by Ambassador Karttunen; Sherzod Karimov, Deputy Minister of Preschool and School Education; and Akmal Savurbaev, Deputy Governor of the Djizak region.

MIL OSI Europe News –

June 2, 2025

MIL-OSI: WISeKey to Present at Maxim Tech Conference “Discover the Innovations Reshaping Tomorrow” on June 3 at 8:30am ET

Source: GlobeNewswire (MIL-OSI)

WISeKey to Present at Maxim Tech Conference “Discover the Innovations Reshaping Tomorrow” on June 3 at 8:30am ET

Geneva, Switzerland, June 2, 2025 –WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announces that its management team will be presenting at the Maxim Group 2025 Virtual Tech Conference “Discover the Innovations Reshaping Tomorrow.”

WISeKey’s fireside chat presentation is scheduled for June 3^rd at 8:30 am ET. Investors can access the live presentation via the following link: https://m-vest.com/events/tmt-06032025.

During the presentation, Carlos Moreira, WISeKey’s Founder and CEO, will provide a progress update on WISeKey’s platform as it advances through the “Year of Convergence,” integrating its subsidiaries’ cybersecurity offerings: (WISeID) digital identification, (SEALSQ) post-quantum technology, (WISeSAT) satellite constellation, and (SEALCOIN) tokenization projects into the Company’s revenue stream.

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@theequitygroup.com

The MIL Network –

June 2, 2025

MIL-OSI: Vodafone Qatar selects Nokia in major network modernization deal to drive expanded 5G coverage, reliability, and services
Source: GlobeNewswire (MIL-OSI)

Press Release
Vodafone Qatar selects Nokia in major network modernization deal to drive expanded 5G coverage, reliability, and services
- The deal entails Core modernization, expanded 5G capacity, and enhanced broadband to strengthen network reliability, service offering, and efficiency.
2 June 2025
Espoo, Finland – Nokia today announced a major agreement with Vodafone Qatar to lead a nationwide network modernization that will enable the operator to deliver faster, more secure, and highly adaptable 5G services to consumers and businesses across the country, while preparing the network for next-generation innovations.

In a major expansion of the two companies’ partnership, Vodafone Qatar will leverage Nokia’s end-to-end technology to boost network capacity and reduce latency while accelerating time-to-market with new capabilities and introducing greater agility through automation and enhanced security measures.

As demand for high-speed connectivity surges in Qatar’s rapidly growing digital economy where the ICT sector is forecast to grow at an 8.5% annual rate through 2030, the operator is committed to meet those needs. Nokia’s solutions will help transform the network with intelligent broadband access, new enterprise offerings provided through 5G slicing, and infrastructure that can easily evolve as digital applications advance.

“Vodafone Qatar continuously embraces new opportunities to deploy emerging technologies as part of its commitment to driving digital transformation in Qatar, in line with Qatar National Vision 2030. Our work with Nokia enables us to become more agile and responsive to the evolving needs of customers and businesses. By integrating advanced fiber, mobile, and cloud capabilities, we are shaping a smarter, more secure network that can support everything from customized home Wi-Fi to the latest enterprise technologies,” said Sheikh Hamad Abdulla Jassim Al-Thani, Chief Executive Officer, Vodafone Qatar.

“This collaboration reflects the depth of our portfolio and the strength of our partnership with Vodafone Qatar. Through more flexible scaling, reliability, and near zero-touch automation that our advanced core and broadband solutions deliver, Nokia will provide greater network agility and service offerings, and provide our partner with all the tools they need to more efficiently manage and extract greater value from their network assets,” said Raghav Sahgal, President of Cloud and Network Services, Nokia.

Nokia’s multi-cloud core software solutions, including Packet Core, Converged Charging, and Networks Data Analytics Function, running on the latest cloud technologies will bring cloud-native grade automation, agility, and scalability to Vodafone Qatar’s multi-access core network.

Nokia Digital Operations software will boost the operator’s journey towards fully autonomous networks with end-to-end orchestration, 5G slicing automation, and AI-driven assurance, enabling rapid delivery and highest reliability of services.

Nokia’s integration of automation across IP and optical networks, provided by NSP, combined with a five-year managed services agreement for core operations, will help accelerate service rollouts, reduce costs, and ensure a future-ready network architecture.

Together, these advancements will set a new standard for end-to-end digital transformation in Qatar and reaffirm Nokia’s position as a trusted technology partner for service providers worldwide.

Multimedia, technical information and related news
Web Page: Cloud and Network Services
Web Page: Mobile Networks
Web Page: Network Infrastructure

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

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

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

About Vodafone Qatar P.Q.S.C
Vodafone Qatar P.Q.S.C. (“Vodafone Qatar”) provides a comprehensive range of services including voice, messaging, data, fixed communications, IoT and ICT managed services in the State of Qatar, for both consumers and businesses alike. The Company commenced commercial operations in 2009 and has 2.1 million mobile customers as of 31 March 2025. Its state-of-the-art network infrastructure is expanding to cover key locations in the country with fibre connectivity and 5G, along with an extensive digital ecosystem, which will contribute to Qatar’s continued growth and prosperity. Vodafone Qatar’s vision is deeply rooted in its mission to connect today’s ideas with the technologies of tomorrow by pioneering digital innovation and becoming people’s first choice in telecom and digital services. Please visit www.vodafone.qa for more details.

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

Vodafone Qatar Media Relations
Email: mediarelations.qatar@vodafone.qa

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The MIL Network –
June 2, 2025
MIL-OSI: The Evolution of the CFO: From Financial Steward to Strategic Visionary

Source: GlobeNewswire (MIL-OSI)

Change is afoot, but that’s a good thing

Gone are the days when CFOs merely managed balance sheets and ensured fiscal discipline. Today’s CFO is a dynamic strategist at the heart of shaping business direction and fueling growth. Beyond budget oversight they are architects of financial resilience: securing resources for talent acquisition, technological advancements, supply chain stability and innovation.

To thrive in this new reality, CFOs are obliged to seamlessly balance ongoing financial health with long-term value creation. Their mission includes inspiring confidence among shareholders, proving to them that their investments will flourish, while simultaneously demonstrating the ability to uphold commitments to financial institutions. Achieving these objectives demands real-time financial intelligence and a well-integrated ecosystem of technology, collaborative teams and agile processes.

These pursuits also mean that Finance can no longer operate in isolation. Growth depends on collaboration, integration and agility to respond to complexity. Companies are only as strong as their weakest link, and the CFO must ensure that the entire value chain — not just individual components — drives competitive advantage. Strategic planning, a focus on digital transformation, ESG initiatives and prudent M&A activities are now all within their remit.

The CFO’s mission is clear: Stay adaptive, break down silos and secure the financial foundation for sustainable success.

The Office of the CFO: A symphony of strategic functions

Since a CFO does not operate in isolation, the Office of the CFO is more than a designation — it is an interconnected framework of specialised teams and functions that collectively support financial leadership.

While fundamental finance operations such as Procurement, Accounts Payable and Accounts Receivable remain vital, the CFO’s broadened responsibilities now demand deeper alignment with IT, Legal, Supply Chain, Customer Service departments and beyond. Especially when it comes to the tech strategy of a company, 84% of CFOs surveyed say that they are going to become more involved in these kinds of decisions.1

These aren’t fragmented departments; they are critical components of an integrated effort to enhance efficiency, optimise profitability and build a sustainable and competitive advantage. Financial leadership today transcends numbers. It’s an intricate dance of collaboration, foresight and execution that shapes a company’s future.

Elevating insights & impacts with the right tech stack

This Office of the CFO requires unparalleled visibility into the organisation’s financial and operational landscape. Advanced technology is the backbone of this transformation, and enables real-time decision-making, meticulous forecasting, accurate predictive analytics and all-encompassing risk management.

While hesitation toward emerging fintech remains, not least due to very real risks, comprehensive suite-based platforms can provide a secure and streamlined alternative by resolving concerns of system complexity and vulnerability, all while enhancing strategic agility.

And as with all realms of technology, AI is making its way into fintech as well. It redefines what financial leadership means by providing CFOs with the ability to make smarter, faster and more data-driven decisions. By leveraging predictive analytics, AI identifies patterns within vast datasets and uncovers actionable insights that propel growth and mitigate risk.

AI revolutionises forecasting by enhancing accuracy through the synthesis of financial and non-financial data. In working capital management, it empowers teams to optimise cashflow, which can ensure liquidity with unparalleled precision. Merger and acquisition activities are supported by AI capabilities that accelerate due diligence by efficiently interpreting complex financial documents and thereby enabling streamlined decision-making. Another example is contract management, where AI can detect critical clauses or risks, which in turn results in simplified negotiations and reduces legal exposure.

Yet, AI is not a substitute for human expertise. Its true strength lies in augmenting Finance teams by automating routine processes and improving data integrity. It provides humans with mental and temporal space to focus on strategic innovation, resulting in a formidable force that drives efficiency, agility and transformative growth. By embracing this synergy, the Office of the CFO can unlock new opportunities and reshape, future-proof the entire business.

1. “The CFO’s Changing Role: 5 Data Points from the 2023 CFO Outlook Survey”, CFO Magazine, Feb. 3, 2023

The MIL Network –

June 2, 2025

MIL-OSI: WISeKey’s WISe.ART 3.0, One of the World’s First and Largest Web3 Marketplaces for Digital Art, Twins, NFTs, and Crypto Collectibles will be Presenting FABEN’s MLove at NFC Lisbon on June 5 on the Alpha Stage at 4:30

Source: GlobeNewswire (MIL-OSI)

WISeKey’s WISe.ART 3.0, One of the World’s First and Largest Web3 Marketplaces for Digital Art, Twins, NFTs, and Crypto Collectibles will be Presenting FABEN’s MLove at NFC Lisbon on June 5 on the Alpha Stage at 4:30 pm

Geneva, Switzerland – June 2, 2025 — WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, is proud to announce that it will present Faben’s holograms for the first time at Lisbon NFC. There will be a live performance by Faben as well as a live discussion with WISe.ART Art Director on stage.

Since its launch in 2021, WISe.ART, the NFT platform developed by WISeKey, has led numerous high-impact and pioneering NFT projects. Combining trusted digital identity, robust cybersecurity, and environmental consciousness, WISe.ART has redefined how digital art and luxury collectibles are created, verified, and traded.

WISe.ART has distinguished itself by ensuring secure digital identity and compliance with international standards, making it one of the few platforms trusted for institutional and philanthropic NFT use cases.

Faben’s holograms are part of an important project including NFTs, NFCs, physical pieces, and an AI community building app to be developed to bring global beauty and peace. MLove will be developed into a game, an interactive companion, and health and educational guidance in an artistic way to spread the message of love to its community.

Revolutionizing the Future of Art- A world premiere that a hologram and a token are linked to a RWA (Real World Asset)

About WISe.ART: The WISe.ART platform redefines the digital art experience by providing creators and collectors with a secure, traceable, and intelligent environment for trading and authenticating digital assets. It is democratizing digital expression by empowering billions of people worldwide to create, share, and monetize their artistic visions through a secure and trusted platform. Whether it’s a digitally generated painting, a collectible tied to a physical sculpture, or a new form of cultural expression, WISe.ART enables creators from all backgrounds to participate in the global digital art economy, safely and transparently. For more information, visit www.wise.art.

About FABEN: Faben the heArtist, (sculpture, painting, murals, installations worldwide),
Creator of MLOVE & NFTH concept – https://www.instagram.com/faben.art/?hl=en#.

Faben joined the new enhanced WISe.ART platform in time for NFC Lisbon with a collection of holograms announcing the project. The holograms will be identifiable with WISeKEY chips and linked to their respective NFTs on one of the WISe.ART blockchains. The complete NFT collection will be dropped later in July during ARTMONACO week. Faben is an internationally renowned artist for his Mr Love sculpture spreading goodwill to all generations with inventive art using technology to reach new frontiers in communication.

About NFC Summit: Is the major annual event where the creative economy meets WEB 3 – Art Fashion, Gaming and Music, live performance stage, blending virtual and reality in unprecedented ways. The world’s major web3 players, investors and media from around the world gather to present and discuss current trends. Live performances, conference on multiple stages, awards and exhibitions will be open to the public for 3 crazy days in an historical venue in the heart of Lisbon. https://www.nfcsummit.com/.

About WISeKey

Press and Investor Contacts

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

WISe.ART PTY LTD
Company Contact: S. Crutchfield
Art Director
Tel: +41 22 594 3000
scrutchfield@wisekey.com

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

The MIL Network –

June 2, 2025

MIL-OSI: BW Offshore: First quarter results 2025
Source: GlobeNewswire (MIL-OSI)

First quarter results 2025

HIGHLIGHTS
- Q1 EBITDA USD of 91 million and operating cashflow of USD 57 million
- Sale of BW Pioneer for USD 125 million
- Received USD 36 million arbitration settlement in April, USD 21 million recognised in EBITDA
- Robust balance sheet with an equity ratio of 30.9% and USD 542 million in available liquidity
- Q1 cash dividend of USD 0.063 per share
- BW Opal departed the shipyard in Singapore 28 May
- Full-year 2025 EBITDA guidance maintained in the range of USD 220-250 million
BW Offshore is nearing completion of the Barossa project well within the updated budget. On 28 May, the FPSO BW Opal departed the shipyard in Singapore and is currently enroute to the field where hook-up and connection will be undertaken. The FPSO is on track for first gas within the third quarter.

The Board of Directors has declared a quarterly cash dividend of USD 0.063 per share. The shares will trade ex-dividend from 4 June 2025. Shareholders recorded in VPS following the close of trading on Oslo Børs on 3 June 2025, will be entitled to the distribution payable on or around 12 June 2025.

“The BW Opal is on its way to the Barossa field to start producing gas under the 15-year contract, providing material earnings and cash flow to BW Offshore from later this year,” said Marco Beenen, CEO of BW Offshore. “At the same time, we continue to mature selected potential FPSO projects that meet our criteria, with solid counterparties and long-term investment horizons. Our growth strategy is supported by a strong balance sheet, high commercial uptime and robust cash generation from the existing fleet.”

In late March, the Company completed the sale of FPSO BW Pioneer to Murphy Oil for USD 125 million and received an initial USD 100 million of the proceeds. The remaining USD 25 million was received in the second quarter upon meeting all conditions precedent. The two parties signed a five-year O&M contract, under which BW Offshore will continue to provide operations and maintenance services.

In early April, BW Offshore received approximately USD 36 million including interest, after settling the arbitration with PRIO (formerly Petrorio) related to the FPSO Polvo lease dispute. This led to the recognition of USD 21 million of additional revenue and EBITDA in the first quarter accounts.

FINANCIALS
EBITDA for the first quarter of 2025 was USD 91.3 million (USD 71.9 million in Q4 2024), reflecting good operational performance and the arbitration settlement with PRIO.

EBIT for the first quarter was USD 73.7 million (USD 30.8 million).

Gain from sale of fixed assets was USD 14.8 million and relates to the sale of BW Pioneer.

Net financial items were positive at USD 10.4 million (USD 19.4 million in Q4 2024). This included a net interest income of USD 1.1 million, which reflects USD 4.1 million of interest earned on the arbitration settlement with PRIO (net interest expense of USD 3.0 million). Both first quarter 2025 and fourth quarter 2024 were positively impacted by a valuation gain on the financial liability related to the Barossa project. This was driven by changes in the timing of expected future cash flows due to a later planned start-up of the facility, as well as a favourable mark-to-market adjustment on interest rate hedges.

The share of loss from equity-accounted investments was USD 4.6 million, including a valuation adjustment on the Barossa finance receivable related to changes in timing of future expected cash flows (loss of USD 9.5 million).

Tax expense was USD 17.3 million (tax income USD 0.1 million). The increase in tax expenses is mainly due to tax on the sale of BW Pioneer.

Net profit for the first quarter increased to USD 62.2 million (USD 40.8 million).

Total equity at 31 March 2025 was USD 1 271.7 million (USD 1 246.6 million) and the equity ratio was 30.9% at (30.8%).

As a result of strong cash generation from the fleet and asset sales, the Company was net cash positive by USD 184.3 million at 31 March 2025 (USD 74.4 million net cash positive at the end of 2024).

Available liquidity was USD 542 million, excluding consolidated cash from BW Ideol and including USD 100 million available under the corporate loan facility.

FPSO OPERATIONS
The FPSO fleet continued to deliver stable operations in the quarter with a weighted average fleet uptime of 100.0% (99.2% in the fourth quarter), including BW Pioneer.

BW Adolo contributed positively through the volume-based tariff as production increased to approximately 39,000 barrels per day in the quarter and BW Catcher continued to maintain high commercial uptime.

On 20 May 2025, BW Energy Gabon took over operations of the FPSO BW Adolo. BW Offshore continues to lease the unit under the same terms, excluding O&M services. A USD 100 million put-and-call option remains in place for 2028. The transition is ongoing and will be supported by both parties through 30 June 2025.

FPSO PROJECT OPPORTUNITIES
In January, BW Offshore was selected to perform the pre-FEED study for the Bay du Nord FPSO project by Equinor.

The Company also progressed the FEED for Repsol’s Block 29 development in Mexico.

Due to the current high activity related to FPSO-based development projects, BW Offshore recently acquired the FPSO Nganhurra. The vessel has a high-quality hull, well suited for installation of a new topside. Reusing existing energy production infrastructure reduces environmental impact, is cost efficient and enables shorter lead time from project sanction to first oil. The acquisition involves a limited upfront payment, with additional consideration linked to redeployment by June 2027. The unit enhances BW Offshore’s ability to respond to emerging project opportunities and strengthens its position in a supply-constrained market.

FLOATING ENERGY TRANSITION SOLUTIONS
BW Offshore is committed to contribute to the energy transition by leveraging FPSO expertise to deliver low-carbon energy and expand into new sectors, focusing on low-emission oil and gas, CO2 transport, gas-to-power and floating ammonia to meet evolving energy demands. The Company maintains a disciplined approach with selective and diligent allocation of capital and a commitment to creating shareholder value.

BW Offshore owns 64% of BW Ideol, a leader in offshore floating wind technology and co-development with over 14 years of experience in the development of floating wind projects. A shareholder loan of EUR 6.7 million has been provided to support the company’s operations over the next 12 months.

The 1 GW Buchan offshore wind project in Scotland recently held its third and final public consulting round as part of the preparation for the final consent application later this year. In France, work continued on the three floating substructures for the Eolmed floating wind pilot with installation of the transition pieces which will hold the wind turbines. Commissioning of the three floating turbines is expected by end of 2025.

OUTLOOK
Growing energy demand continues to drive interest in developing new infrastructure-type FPSO projects with long production profiles, low break-even costs, and a focus on lower emissions. Increased project complexity, combined with higher construction costs, necessitates financial structures with significant day rate prepayments during the construction period for new lease and operate projects. Alternatively, oil and gas majors may finance and own FPSOs, relying on FPSO specialists for the design, construction and installation scope, combined with operation and maintenance services. BW Offshore is well positioned to offer both solutions.

In recent years, the number of sanctioned FPSO projects have lagged market expectations. Consequently, there is a growing number of projects at various stages of maturity, reflecting a pent-up demand for FPSOs. Increased FEED and tendering activity are a function of this, and BW Offshore expects that a number of the FPSO projects the Company is engaging with will reach a final investment decision over the next 36 months. These market dynamics, combined with the high level of expertise required for project execution, are expected to enable better risk-reward and improved margins for FPSO companies going forward.

BW Offshore continues to selectively evaluate new projects that meet required return targets, offer contracts with no residual value risk after firm period, and provide a financeable structure with strong national or investment-grade counterparties.

BW Offshore expects that the fleet will continue to generate significant cash flows in the time ahead, supported by the USD 5.4 billion firm contract backlog at the end of March 2025.

Please see attached the Q1 Presentation. The earnings tables are available at:

https://www.bwoffshore.com/ir/

BW Offshore will host a webcast of the financial results 09:00 (CEST) today. The presentation will be given by CEO Marco Beenen and CFO Ståle Andreassen.

Webcast information:
You can follow the presentation via webcast with supporting slides and a Q&A module, available on:

BW Offshore Limited – Q1 Presentation Webcast

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

For further information, please contact:
Ståle Andreassen, CFO, +47 91 71 86 55
IR@bwoffshore.com or www.bwoffshore.com

About BW Offshore:
BW Offshore engineers innovative floating production solutions. The Company has a fleet of FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,100 employees and is publicly listed on the Oslo stock exchange.

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

Attachment
- 2025 Q1 Presentation
The MIL Network –
June 2, 2025
MIL-OSI: Atos Group receives confirmatory offer from the French State to acquire part of its former Advanced Computing business
Source: GlobeNewswire (MIL-OSI)

Press release

Atos Group receives confirmatory offer from the French State to acquire part of its former
Advanced Computing business

Vision AI activities excluded from the transaction
- Confirmatory offer received from the French State to acquire Eviden’s Advanced Computing business excluding newly separated Vision AI activities
- Enterprise Value of €410 million including €110 million contingent earn outs, following the exclusion of Vision AI activities
- Vision AI activities, contributing to more than one third of the operating margin of the formerly considered perimeter, repositioned in Eviden to structure a new business unit
- The Parties aim to sign a binding agreement¹in the coming weeks, with a closing of the transaction expected in 2026
Paris, France – June 2, 2025 – Following its press release dated November 25, 2024, Atos SE (“Atos” or the “Company”) announces that it has received a confirmatory offer from the French State to acquire its Advanced Computing business, excluding Vision AI activities (comprising mainly the Ipsotek subsidiary acquired in 2021), for an enterprise value (EV) of €410 million, including €110 million earn-outs that are based on profitability indicators for fiscal years 2025 (€50 million that should be paid upon closing) and 2026 (€60 million).
The revised EV in comparison with the one communicated in November 2024 reflects the reduced scope of the transaction.

Atos Group’s Advanced Computing business regroups the High-Performance Computing (HPC) & Quantum as well as the Business Computing & Artificial Intelligence divisions. The transaction perimeter is expected to generate revenue of circa €0.8 billion in 2025.

Eviden will be reorganizing its Vision AI capabilities (based in the UK) around a new business unit to continue its focus on AI, Data and Security as communicated during the Capital Markets Day. With deep expertise in AI-powered video analytics for operations, safety and security (such as abandoned luggage detection, crowd management or manufacturing quality inspection), this structure will support Atos Group organization to deliver improved and higher-value offerings to clients.

The Board of Directors welcomed the offer, based on the report of the independent expert appointed by the Board, which confirmed that the valuation of the disposed perimeter and the terms of the transaction are at fair market value.

Atos Group 2028 financial trajectory presented at the Capital Markets Day on 14 May 2025, on the assumption of a disposal of Advanced Computing, remains unchanged.

About Atos Group

Atos Group is a global leader in digital transformation with c. 72,000 employees and annual revenue of c. € 10 billion, operating in 68 countries under two brands — Atos for services and Eviden for products. European number one in cybersecurity, cloud and high-performance computing, Atos Group is committed to a secure and decarbonized future and provides tailored AI-powered, end-to-end solutions for all industries. Atos is a SE (Societas Europaea) and listed on Euronext Paris.

The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

Contacts

Investor relations: investors@atos.net

Individual shareholders: +33 8 05 65 00 75

Media relations: globalprteam@atos.net

1 The binding agreement refers to the put option agreement. A share purchase agreement attached to the put option agreement will be signed upon and subject to completion of the information procedure and consultation with the relevant employee representative bodies. It is also specified that the transaction is subject to approval by the relevant regulation authorities.

Attachment
- 250602_Atos_receives_confirmatory_offer_from_French_State
The MIL Network –
June 2, 2025
MIL-OSI: UAB “Atsinaujinančios energetikos investicijos” Public Green Bond Issue presentation to investors
Source: GlobeNewswire (MIL-OSI)

“Atsinaujinančios energetikos investicijos” (Issuer) and Orion Securities (Issue organizer) on 4^th and 5^th of June will present the bond issue and will answer investor questions during the webinar.
- 4 June (Wednesday), 14:00
- 5 June (Thursday), 10:00
Investment orders can be submitted before 11 June, 3:30PM.
Key bond issue details:
- Issue size: up to 100 mEUR
- Size of the first tranche: up to 65 mEUR
- Interest rate: 8 %
- Minimum investment amount: 100 000 EUR
- Term: 2,5 years
For more information and full documentation click here.

HOW TO INVEST?

Contact the financial brokerage company/bank (LHV, Signet, Swedbank, SEB Bank and others) handling your securities account for the submission of an investment order.

If you do not have an investment services agreement concluded with a financial intermediary, send us an email to: bonds@orion.lt

The MIL Network –
June 2, 2025
MIL-OSI: Colt, Honeywell and Nokia join forces to trial space-based quantum-safe cryptography
Source: GlobeNewswire (MIL-OSI)

Press Release
Colt, Honeywell and Nokia join forces to trial space-based quantum-safe cryptography
- Tech collaboration will explore ways to protect encrypted data from quantum risk using Low Earth Orbit satellites.
- Trial to use space-based quantum key distribution to overcome terrestrial distance limitations.
2 June 2025
Espoo, Finland – Colt Technology Services (Colt), a global digital infrastructure company, Honeywell and Nokia today announced a collaboration to explore quantum-safe networking using satellite communications. As part of the initiative, the companies are planning to test new ways of protecting encrypted optical network traffic from risks presented when quantum computing potentially breaks through traditional encryption methods, leaving data vulnerable to cyber threats.

Traditional encryption methods, or cryptography, rely on complex mathematical problems that are difficult for computers to solve, but quantum computers are expected to solve these problems faster, potentially breaking through traditional encryption methods and putting data at risk. One promising advancement in this field is quantum key distribution (QKD), a technology central to the quantum evolution. However, QKD currently faces a major limitation: terrestrial physical constraints restrict its range to around 100 kilometers. To achieve global coverage of QKD, the technology can overcome these limitations by moving into space. Colt, Honeywell and Nokia plan to explore quantum-safe cryptography, trialling space-based and subsea techniques which are resistant to quantum computing attacks.

The companies will trial quantum key distribution – a method used to securely share encryption keys between two parties – using low earth orbit satellites for ultra-long distances and transatlantic reach. The three companies share a collective goal: enable customers to benefit from the huge potential of quantum computing in ways that help solve pressing challenges, while protecting them from risk. The trial is expected to be of interest to organisations responsible for vast amounts of highly sensitive data such as financial firms, healthcare and pharmaceutical organisations and government bodies.

“Fundamental to the collaboration between Colt, Honeywell and Nokia is a shared passion and determination to push the boundaries of technology to find solutions which safeguard our customers and help them succeed. At Colt, we do everything we can to make life easier for our customers. It’s why we’re taking action now to protect our customers from future cybersecurity risks, tackling tomorrow’s threats, today,” said Buddy Bayer, chief operating officer, Colt Technology Services.

“With over five decades of aerospace expertise, Honeywell has witnessed and adapted to the evolution of the global communications landscape. We are proud to continue as a leader in innovating future-proof solutions such as the QEYSSat and QKDSat missions for the quantum era. This collaboration represents a significant step forward in securing the future of critical data: designing solutions to enhance resilience, ensuring long-term data security for critical infrastructure and communications systems,” said Lisa Napolitano, vice president and general manager, Space, Honeywell Aerospace Technologies.

“Nokia is helping our customers stay ahead when it comes to securing critical data through resilient defense-in-depth strategies. Quantum computing brings great promise, but it’s also a potential threat to the encryption models on which society has relied so far. This collaboration with Colt and Honeywell shows how space-based quantum-safe technologies can help protect networks, safeguarding sensitive information across every domain against future quantum threats,” said James Watt, vice president and general manager, Optical Networks at Nokia.

Ahead of the trial, Colt, Honeywell and Nokia have drafted a white paper with more detail on the risks, threats and opportunities presented by quantum cryptography. The paper, entitled ’The Journey to Quantum-Safe Networking’ is available to download here.

The announcement follows a pilot Colt announced in March to explore quantum-secure networking across terrestrial networks.

Multimedia, technical information and related news
Web Page: Quantum Explained
Web Page: Quantum Safe Technologies

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

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

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

About Colt Technology Services

Colt Technology Services (Colt) is a global digital infrastructure company which creates extraordinary connections to help businesses succeed. Powered by amazing people and like-minded partners, Colt is driven by its purpose: to put the power of the digital universe in the hands of its customers, wherever, whenever and however they choose.
Since 1992, Colt has set itself apart through its deep commitment to its customers, growing from its heritage in the City of London to a global business spanning 40+ countries, with over 6,000 employees and more than 80 offices around the world. Colt’s customers benefit from expansive digital infrastructure connecting 32,000 buildings across 230 cities, more than 50 Metropolitan Area Networks and 275+ Points of Presence across Europe, Asia, the Middle East, Africa and North America’s largest business hubs.
Privately owned, Colt is one of the most financially sound companies in the sector. Obsessed with delivering industry-leading customer experience, Colt is guided by its dedication to customer innovation, by its values and its responsibility to its customers, partners, people and the planet.

About Honeywell
Products and services from Honeywell Aerospace Technologies are found on virtually every commercial, defense and space aircraft, and in many terrestrial systems. The Aerospace Technologies business unit builds aircraft engines, cockpit and cabin electronics, wireless connectivity systems, mechanical components, power systems, and more. It’s hardware and software solutions create more fuel-efficient aircraft, more direct and on-time flights and safer skies and airports. For more information, visit aerospace.honeywell.com or follow Honeywell Aerospace Technologies on LinkedIn.
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world’s toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

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

Sarah Miller – Nokia media relations
Phone: 613-720-9716 |
Email: sarah.miller@nokia.com

Colt Head of PR
Anne Amlot
Email: anne.amlot@colt.net

Honeywell
Juliet Collins-Achong
Phone: +44 7787 282932
Email: juliet.collins-achong@honeywell.com

Follow Nokia on social media
LinkedIn X Instagram Facebook YouTube

Follow Colt on social media
LinkedIn Instagram TikTok Facebook

The MIL Network –
June 2, 2025
MIL-OSI: Information to be delivered by Artea Bank at the Nasdaq Vilnius conference “CEO Meets Investors”
Source: GlobeNewswire (MIL-OSI)

On June 2, 2025 at the traditional online webinar of listed companies’ executives with investors, hosted by Nasdaq Vilnius, Vytautas Sinius, CEO of Artea Bank will provide information on bank`s strategy, operation, financial outlook and future perspectives.

Please find enclosed the information to be delivered during the presentation.

Additional information:
Tomas Varenbergas
Head of Investment Management Division
tomas.varenbergas@artea.lt +370 610 44447

Attachment
- 2025 06 CEO Meets Investors Nasdaq LT
The MIL Network –
June 2, 2025
MIL-OSI: Results of the 2025 Annual General Meeting
Source: GlobeNewswire (MIL-OSI)

2 June 2025 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares” or the “Company“) (Nasdaq Stockholm Market: CS; US OTCQX: CNSRF), a global investment firm specializing in digital assets, is pleased to announce that all of the resolutions proposed at the Annual General Meeting (“AGM”) of the Company, held as of 30 May 2025, were duly passed via poll.

The Company’s Board of Directors wished to highlight the following:

Resolution 13 – Resolution regarding authorising the Board of Directors to decide on repurchase and transfer of own shares

The AGM resolved that the Board of Directors shall decide on purchases of the Company’s own shares in accordance with the following terms.
1. Share repurchases may be made on Nasdaq Stockholm or any other regulated market.
2. The authorisation may be exercised on one or more occasions before the 2026 Annual General Meeting.
3. The Company’s holding of shares at any given time shall not exceed 15% of the total number of shares in the Company.
4. Repurchases of the Company’s own shares may shall be made at a price of no more than 5% above the average trading price of the shares for the 5 business days prior to the repurchase date.
5. Payment for the shares shall be made in cash.
In addition, the AGM resolved to authorise the Board of Directors to decide on transfer of own shares, with or without deviation from the shareholders’ preferential rights, in accordance with the following, terms.
1. Transfers may be made on (i) Nasdaq Stockholm or (ii) outside of Nasdaq Stockholm in connection with the acquisition of companies, operations, or assets.
2. The authorisation may be exercised on one or more occasions before the 2026 Annual General Meeting.
3. The maximum number of shares that may be transferred corresponds to the number of shares held by the Company at the point in time of the Board of Directors’ decision on transfer.
4. Transfers of shares on Nasdaq Stockholm (or any other regulated market) shall be made at a price of no more than 5% above the average trading price of the shares for the 5 business days prior to the transfer date. For transfers outside of Nasdaq Stockholm, the price shall be set so that the transfer is made at market terms, except for delivery of shares in connection with employee stock option programs.
5. Payment for transferred shares may be made in cash, through in-kind payment, or through set-off against claims with the Company.
The purpose of the authorisations is to give the Board of Directors greater scope to act and the opportunity to adapt and improve the company’s capital structure and thereby create further shareholder value and take advantage of any attractive acquisition opportunities. The authorisation may also be used in order to enable delivery of shares in connection with employee stock option programs.

The Board of Directors shall have the right to decide on other terms for repurchases and transfers of own shares in accordance with its authorisation. The Board of Directors also has the right to authorise the Chairman of the Board, the Chief Executive Officer, or the person designated by the Board to make such minor adjustments that may be necessary in connection with the execution of the Board’s decision to repurchase or transfer shares.

Resolution 14 – Resolution regarding amendments to the Company’s Articles of Association

The AGM resolved that Company’s Articles of Association be amended by deletion of the existing articles 3.6.2, 17.2.7 and 24.12 and the insertion of new articles 3.6.2, 17.2.7 and 24.12 as follows:
“3.6.2   the Directors may, by unanimous consent only, during any period of two consecutive calendar years, resolve to allot and issue in one or more tranches such number of ordinary shares (including, for the avoidance of doubt, any shares issued pursuant to, in connection with or upon conversion of any subsequently issued convertible bonds) as does not in the aggregate exceed twenty five percent (25%) of the total number of ordinary shares in issue (excluding any ordinary shares held in treasury) at 9am on 1st January of such year (rounded down to the nearest whole share), without the offer, issue or allotment of such shares or the issue or conversion of any subsequently issued convertible bonds being subject to the provisions of Article 3.2 provided always that any such allotment, issue, or conversion is effected solely in connection with bona fide transactions for business purposes only (and for the avoidance of doubt the terms of this Article 3.6.2 shall not include the issuance of shares or convertible securities as consideration or compensation for services rendered by employees, consultants, directors, or any other individuals in a personal capacity) and provided further that any issuance or allotment to any natural person pursuant to this Article 3.6.2 shall be subject to the unanimous approval of the remuneration committee as required by and in accordance with the terms of reference for such remuneration committee and shall not in aggregate in any calendar year exceed five percent (5%) of the total number of ordinary shares in issue at the time of such offer;”

“17.2.7 the creation of any charge or other security over any assets or property of a Group Company to secure borrowings, or indebtedness in the nature of borrowings, of that Group Company which, when aggregated with all other such borrowings or indebtedness, would exceed £200,000,000 (OTHER THAN in the ordinary course of its Business, and, DISREGARDING any amounts borrowed from other Group Companies) provided always that, subject to applicable law, nothing in these Articles (including without limitation this provision) shall restrict or prevent or be deemed to restrict or prevent the issuance by the Company of any corporate or convertible bonds or other debt instruments on an unsecured basis.”

“24.12 Notwithstanding anything to the contrary within these Articles, meetings of the Board shall be held at such locations and in such manner, and resolutions of Directors passed in writing shall be signed, so as to cause the Company to:
24.12.1    be resident for taxation purposes in Jersey; and
24.12.2    comply with the Taxation (Companies – Economic Substance) (Jersey) Law 2019.”

36,267,305 shares and votes were registered for the AGM, representing 54.39% of the issued share capital as at 16 May 2025.

The number of shares in issue (and total voting rights) as at close of business on 16 May 2025 was 66,678,210 ordinary shares carrying one vote each. Therefore, the total voting rights in the Company as at close of business on 16 May 2025 was 66,678,210.

The full text of the resolutions passed at the AGM can be found in the Notice of the Annual General Meeting (included within the Annual Report) which is available on the Company’s website at https://investor.coinshares.com/c-governance/general-meetings.

In response to a shareholder question and as previous advised during the 1Q25 earnings call, the CEO reaffirmed his commitment to the Company’s long-standing objective of enhancing shareholder value by securing a listing on a major U.S. exchange such as Nasdaq or the NYSE.

Several potential paths to listing were outlined, including a secondary listing and reverse takeover structures. The CEO noted that the reverse takeover market in the U.S. is currently active, offering a range of options—from legacy listed entities seeking a strategic reset to clean shells, with or without available cash.

CoinShares’ strong earnings and robust margins provide meaningful strategic flexibility. At this stage, the Company remains focused on completing its PCAOB historical audit, which is the primary gating item for any U.S. listing initiative.

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 above, at 08:30 BST on Monday, 2 June 2025.

The MIL Network –
June 2, 2025
MIL-OSI Economics: Development Asia: Empowering Women, Greening Urban Transport in Uzbekistan

Source: Asia Development Bank

Until recently, legal restrictions in Uzbekistan limited women’s access to many jobs. Although a 2019 presidential decree abolished a list of more than 300 professions where female labor was either completely or partially prohibited, legal restrictions remained and prevented women from driving buses or freight vehicles weighing over 2.5 tons or carrying more than 14 passengers. This changed with Cabinet of Ministers’ Resolution No. 85 in February 2024, which officially lifted the remaining barriers.

While this legislative reform marks a significant step forward, there are still obstacles that limit women’s full participation in public transport employment, highlighting the need for coordinated and effective solutions.

A key obstacle is the lack of public awareness regarding available opportunities in the transport sector. Although there is strong demand for skilled drivers, information about the benefits of working as an electric bus driver—particularly for women—is still limited.

Targeted information campaigns, showcasing success stories of female drivers, and media visibility of their contributions to urban mobility could play a vital role in reshaping public perceptions of the profession and inspire more women to consider careers in public transport.

Working conditions also need to be improved since bus driving is physically and mentally demanding. The World Bank report Closing Gender Gaps in Transport recommends measures such as better shift scheduling, access to clean and well-lit rest areas, provision of sanitary facilities, and implementation of safety programs, which can attract more women to the profession. Modern electric buses, designed with ergonomic driver workstations, also help reduce physical strain and make vehicle operation more comfortable.

Access to quality training remains a significant barrier. Acquiring the necessary driver’s license and completing required certification courses involve financial costs, which can deter potential candidates. To address this, government support through training subsidies and incentives for companies that hire female drivers could overcome these barriers and encourage higher female participation in the transport sector.

MIL OSI Economics –

June 2, 2025
MIL-Evening Report: Pro-Trump candidate wins Poland’s presidential election – a bad omen for the EU, Ukraine and women

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

Poland’s presidential election runoff will be a bitter pill for pro-European Union democrats to swallow.

The nationalist, Trumpian, historian Karol Nawrocki has narrowly defeated the liberal, pro-EU mayor of Warsaw, Rafał Trzaskowski, 50.89 to 49.11%.

The Polish president has few executive powers, though the office holder is able to veto legislation. This means the consequences of a Nawrocki victory will be felt keenly, both in Poland and across Europe.

With this power, Nawrocki, backed by the conservative Law and Justice party, will no doubt stymie the ability of Prime Minister Donald Tusk and his Civic Platform-led coalition to enact democratic political reforms.

This legislative gridlock could well see Law and Justice return to government in the 2027 general elections, which would lock in the anti-democratic changes the party made during their last term in office from 2015–2023. This included eroding Poland’s judicial independence by effectively taking control of judicial appointments and the supreme court.

Nawrocki’s win has given pro-Donald Trump, anti-liberal, anti-EU forces across the continent a shot in the arm. It’s bad news for the EU, Ukraine and women.

A rising Poland

For much of the post-second world war era, Poland has had limited European influence.

This is no longer the case. Poland’s economy has boomed since it joined the EU in 2004. It spends almost 5% of its gross domestic product on defence, almost double what it spent in 2022 at the time of Russia’s full-scale invasion of Ukraine.

Poland now has a bigger army than the United Kingdom, France and Germany. And living standards, adjusted for purchasing power, are about to eclipse Japan’s.

Along with Brexit, these changes have resulted in the EU’s centre of gravity shifting eastwards towards Poland. As a rising military and economic power of 37 million people, what happens in Poland will help shape Europe’s future.

Impacts on Ukraine

Poland’s new position in Europe is most clearly demonstrated by its central role in the fight to defend Ukraine against Russia.

This centrality was clearly demonstrated during the recent “Coalition of the Willing” summit in Kyiv, where Tusk joined the leaders of Europe’s major powers – France, Germany and the UK – to bolster support for Ukraine and its president, Volodymyr Zelensky.

However, Poland’s unqualified support for Ukraine will now be at risk because Nawrocki has demonised Ukrainian refugees in his country and opposed Ukrainian integration into European-oriented bodies, such as the EU and NATO.

Nawrocki was also backed during his campaign by the Trump administration. Kristi Noem, the US secretary of homeland security, said at the recent Conservative Political Action Conference in Poland:

Donald Trump is a strong leader for us, but you have an opportunity to have just as strong of a leader in Karol if you make him the leader of this country.

Trump also hosted Nawrocki in the Oval Office when he was merely a candidate for office. This was a significant deviation from standard US diplomatic protocol to stay out of foreign elections.

Nawrocki has not been as pro-Russia as some other global, MAGA-style politicians, but this is largely due to Poland’s geography and its difficult history with Russia. It has been repeatedly invaded across its eastern plains by Russian or Soviet troops. And along with Ukraine, Poland shares borders with the Russian client state of Belarus and Russia itself in Kaliningrad, the heavily militarised enclave on the Baltic Sea.

I experienced the proximity of these borders during fieldwork in Poland in 2023 when I travelled by car from Warsaw to Vilnius, the Lithuanian capital, via the Suwalki Gap.

This is the strategically important, 100-kilometre-long border between Poland and Lithuania, which connects the Baltic states to the rest of NATO and the EU to the south. It’s seen as a potential flashpoint if Russia were ever to close the gap and isolate the Baltic states.

Poland’s conservative nationalist politicians are therefore less Russia-friendly than those in Hungary or Slovakia. Nawrocki, for instance, does not support cutting off weapons to Ukraine.

However, a Nawrocki presidency will still be more hostile to Ukraine and its interests. During the campaign, Nawrocki said Zelensky “treats Poland badly”, echoing the type of language used by Trump himself.

Poland divided

The high stakes in the election resulted in a record turnout of almost 73%.

There was a stark choice in the election between Nawrocki and Trzaskowski.

Trzaskowski supported the liberalisation of Poland’s harsh abortion laws – abortion was effectively banned in Poland under the Law and Justice government – and the introduction of civil partnerships for LGBTQ+ couples.

Nawrocki opposed these changes and will likely veto any attempt to implement them.

While the polls for the presidential runoff election had consistently shown a tight race, an Ipsos exit poll published during the vote count demonstrated the social divisions now facing the country.

As in other recent global elections, women and those with higher formal education voted for the progressive candidate (Trzaskowski), while men and those with less formal education voted for the conservative (Nawrocki).

After the surprise success of the liberal, pro-EU presidential candidate in the Romanian elections a fortnight ago, pro-EU forces were hoping for a similar result in Poland, as well.

That, for now, is a pipe dream and liberals across the continent will now need to negotiate a difficult relationship with a right-wing, Trumpian leader in the new beating heart of Europe.

Adam Simpson does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Pro-Trump candidate wins Poland’s presidential election – a bad omen for the EU, Ukraine and women – https://theconversation.com/pro-trump-candidate-wins-polands-presidential-election-a-bad-omen-for-the-eu-ukraine-and-women-257617

MIL OSI Analysis – EveningReport.nz –

June 2, 2025

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