Category: Economy

MIL-OSI: Bilibili Inc. Announces Proposed Offering of Class Z Ordinary Shares in Connection with Hedging Transactions of Certain Convertible Notes Investors and Concurrent Repurchase

Source: GlobeNewswire (MIL-OSI)

SHANGHAI, May 21, 2025 (GLOBE NEWSWIRE) — Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced a separate SEC-registered underwritten offering of its Class Z ordinary shares, par value US$0.0001 per share (the “Concurrent Delta Offering”).

Concurrently with such offering, the Company announced the proposed offering (the “Notes Offering”) of US$500 million in aggregate principal amount of convertible senior notes due 2030 (the “Notes”) pursuant to Rule 144A under the Securities Act of 1933, as amended. The proposed Notes Offering is subject to market conditions and other factors. The Company intends to grant the initial purchasers in the Notes Offering a 30-day option to purchase up to an additional US$75 million in principal amount of the Notes. The Company plans to use the net proceeds from the Notes Offering to enhance its content ecosystem to facilitate user growth, facilitate IP asset creation, and unleash its inherent potential. The Company also plans to use the net proceeds from the Notes Offering to improve its overall monetization efficiency, fund the Concurrent Repurchase (as defined below), fund future repurchases (from time to time) under its share repurchase program, and for other general corporate purposes.

In connection with the offering of the Notes, the Company announced the Concurrent Delta Offering, under which certain number of the Company’s Class Z ordinary shares are proposed to be borrowed from third parties and offered in a separate underwritten offering by Goldman Sachs (Asia) L.L.C. and Morgan Stanley Asia Limited (the “Underwriters”), each acting severally on behalf of itself and/or its respective affiliates. The Underwriters will use the resulting short position to facilitate hedging transactions by certain investors subscribing for the Notes, who employ a convertible arbitrage strategy (the “Convertible Arbitrage Investors”). The Company has been advised that each Underwriter is concurrently entering into privately negotiated derivative transactions relating to the Class Z ordinary shares, enabling Convertible Arbitrage Investors to establish their initial short positions in the Class Z ordinary shares to hedge market risk in the Notes. The number of Class Z ordinary shares subject to the Concurrent Delta Offering will be determined at the time of pricing of the Concurrent Delta Offering, and is expected to generally correspond to such initial short positions of the Convertible Arbitrage Investors. No new Class Z ordinary shares will be issued in the Concurrent Delta Offering. The Company will not receive any proceeds from the Concurrent Delta Offering. The Notes Offering and the Concurrent Delta Offering are contingent upon each other.

In addition, the Company intends to purchase a number of its Class Z ordinary shares offered in the Concurrent Delta Offering for an amount expected to be up to US$100 million at the offering price (the “Concurrent Repurchase”) pursuant to its existing share repurchase program.

The Company will use part of the proceeds from the Notes Offering for the Concurrent Repurchase. The Concurrent Repurchase enables investors to establish some of their initial short positions in the Class Z ordinary shares to hedge market risk in the Notes and reflects the Company’s confidence in its long-term strategy and growth. The repurchased shares will be cancelled.

The Company has filed an automatic shelf registration statement on Form F-3 (including a prospectus) with the SEC. The Concurrent Delta Offering will be made only by means of a prospectus supplement and an accompanying prospectus. Before you invest, you should read the prospectus supplement and the accompanying prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the Concurrent Delta Offering. You may obtain these documents by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, a copy of the prospectus supplement and the accompanying prospectus may be obtained from Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attention: Prospectus Department, Email: Prospectus-ny@ny.email@gs.com, Telephone: 1 (866) 471-2526; or Morgan Stanley Asia Limited, c/o Morgan Stanley & Co. LLC, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, Email: prospectus@morganstanley.com, Telephone: 1 (866) 718-1649.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any of these securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful.

This press release contains information about the pending Concurrent Delta Offering and Concurrent Repurchase, and there can be no assurance that the Concurrent Delta Offering and Concurrent Repurchase will be completed.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue,” or other similar expressions. Among other things, the terms of the Notes, whether the Company will complete the Notes Offering, whether the Concurrent Delta Offering and/or Concurrent Repurchase will be completed, a description of various hedging activities, and statements about Bilibili’s beliefs and expectations, contain forward-looking statements. Bilibili may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Bilibili’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: results of operations, financial condition, and stock price; Bilibili’s strategies; Bilibili’s future business development, financial condition and results of operations; Bilibili’s ability to retain and increase the number of users, members and advertising customers, provide quality content, products and services, and expand its product and service offerings; competition in the online entertainment industry; Bilibili’s ability to maintain its culture and brand image within its addressable user communities; Bilibili’s ability to manage its costs and expenses; PRC governmental policies and regulations relating to the online entertainment industry, general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law.

About Bilibili Inc.

Bilibili is an iconic brand and a leading video community with a mission to enrich the everyday lives of young generations in China. Bilibili offers a wide array of video-based content with All the Videos You Like as its value proposition. Bilibili builds its community around aspiring users, high-quality content, talented content creators and the strong emotional bonds among them. Bilibili pioneered the “bullet chatting” feature, a live comment function that has transformed our users’ viewing experience by displaying the thoughts and feelings of audience members viewing the same video. The Company has now become the welcoming home of diverse interests among young generations in China and the frontier for promoting Chinese culture across the world.

For more information, please visit: http:/ir.bilibili.com.

For investor and media inquiries, please contact:

In China:

Bilibili Inc.
Juliet Yang
Tel: -86-21-2509-9255 Ext. 8523
Email: ir@bilibili.com

Piacente Financial Communications
Helen Wu
Tel: -86-10-6508-0677
Email: bilibili@tpg-ir.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: -1-212-481-2050
Email: bilibili@tpg-ir.com

The MIL Network –

May 21, 2025
MIL-OSI China: Tokyo stocks fall on caution ahead of US-Japan talks

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

Tokyo stocks closed lower on Wednesday as investors sold off positions ahead of the upcoming Japan-U.S. finance ministers’ meeting.

A stronger yen, which briefly rose to the mid-143 range against the U.S. dollar, added downward pressure.

The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 37,298.98, down 230.51 points, or 0.61 percent, from the previous trading day.

Market participants were cautious amid speculation that the United States might call for corrective measures against the weak yen. As the yen strengthened further in the afternoon, selling intensified in Nikkei futures, widening the index’s decline.

The broader TOPIX index also declined, ending 5.95 points lower, or 0.22 percent, at 2,732.88.

Of the listed stocks on the Tokyo Stock Exchange Prime Market, declining stocks numbered 816, while 747 rose and 69 remained flat.

MIL OSI China News –

May 21, 2025
MIL-OSI USA: WATCH: Padilla Blasts Republicans’ Callous Attacks Against California’s Clean Air, Underscores Consequences of Overruling Senate Parliamentarian to Bypass Filibuster

US Senate News:

Source: United States Senator Alex Padilla (D-Calif.)

WATCH: Padilla Blasts Republicans’ Callous Attacks Against California’s Clean Air, Underscores Consequences of Overruling Senate Parliamentarian to Bypass Filibuster

WATCH: Padilla defends California’s waivers from Republican attempts to overrule Senate Parliamentarian and avoid Senate’s 60-vote thresholdWASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.), Ranking Member of the Senate Committee on Rules and Administration and a member of the Senate Environment and Public Works Committee, spoke on the Senate Floor to demand Republicans stop their shortsighted attempts to overrule the nonpartisan Senate Parliamentarian’s decision and break the rules in order to rescind California’s clean air waivers. Senator Padilla, U.S. Senate Democratic Leader Chuck Schumer (D-N.Y.), and U.S. Senator Sheldon Whitehouse (D-R.I.), Ranking Member of the Senate Committee on Environment and Public Works, held the floor after Majority Leader John Thune (R-S.D.) said today that he would move forward this week with a cynical attempt to rescind California’s Clean Air Act waivers with a 50-vote threshold under the Congressional Review Act (CRA), bypassing the filibuster and its 60-vote requirement by overruling the Senate Parliamentarian.
The Trump-led Environmental Protection Agency (EPA) recently submitted three California waivers as “rules” to Congress — despite knowing full well that these waivers were not rules under the law. The Senate Parliamentarian determined that any resolutions aimed at overturning California waivers would not be entitled to the CRA’s expedited procedures and would therefore require 60 votes to secure Senate passage.
Prior to his remarks, Senator Padilla posed two parliamentary inquiries to the Chair, making clear that Senate Republicans’ planned actions would not abide by the rules of the Senate.
Padilla began his remarks by underscoring the immense importance of California’s clean air waivers for cleaning up the state’s uniquely severe air quality challenges. He highlighted his own experience growing up in the San Fernando Valley, where he was frequently sent home from school because of dangerous air quality.
Padilla warned that Republicans’ attempt to throw out the Senate rulebook and revoke California’s waivers would significantly harm the public health of millions of people. He also called out Republicans for undermining the work members of their party like Presidents Ronald Reagan and Richard Nixon did to protect California’s air quality.
“I wonder if any other member in this chamber grew up like I did, where on a pretty regular basis, we would be sent home from grade school because of the intensity and dangers of smog that settled over the San Fernando Valley, the City of Los Angeles. How many of you grew up to more reports of “unhealthy” air quality in the air quality index? … But that’s the case for far too many Californians still to this day.”
“Congress recognized, rightfully so, that air quality in West Virginia or Wyoming is different than it is in Southern California. That there’s fewer cars on the road in Salt Lake City than there are in Los Angeles. And because California was and still is the center of innovation in the United States.”
“Yet in 2025, it appears that Republicans want to overturn half a century of precedent in order to undermine California’s ability to protect the health of our residents. By using the Congressional Review Act to revoke California’s waivers that allow us to set our own vehicle emissions standards, Republicans seem to be putting the wealth of the Big Oil industry over the health of our constituents.”
“As parents, we have some level of control certain things like the food we give our kids or the medications that we provide. But some things that we can’t control as parents include the quality of the air that they breathe outside. … Unless industry were to somehow decide to suddenly just do the right thing, it’s incumbent upon government to act. And that’s what California has done.”
Padilla emphasized that California’s leading emission standards are important not only for public health, but to combat the climate crisis. He stressed that despite Republicans’ false and misleading claims to the contrary, California cannot impose its emission standards on any other state. Instead, other states have chosen voluntarily to follow California’s example.
“California’s emission standards also represent ambitious but achievable steps to cut carbon emissions and fight the climate crisis. We’ve taken a stand because we know transportation is the single largest contributor to greenhouse gas emissions. And California has been proud to set the example for other states who may choose to follow suit.”
“I want to be clear: California has not and cannot force our emission standards on any other state in the nation. As much as I may love that authority, that does not exist. But yes, over a dozen other states have voluntarily followed in California’s footsteps — not because they were forced to, but because they chose to in order to protect their constituents, their residents, and protect our planet.”
Padilla highlighted that California’s clean emissions programs have propelled California to becoming the fourth-largest economy in the world and the biggest contributor to the federal treasury. He emphasized that the costs of inaction against the climate crisis cost Americans an average of $2,500 a year in medical bills and over $820 billion in total, according to estimates by the Natural Resources Defense Council.
“California didn’t get there by sticking our head in the sand as the clean energy transition blossomed elsewhere. We leaned in. And we proved that what’s good for the air is good for business. What’s good for the planet and public health is good for the economy.”
“Meanwhile, the costs of inaction continue to hit Americans where it hurts the most: in our wallets.”
Padilla further stressed the extreme consequences if Republicans ignore the Parliamentarian, effectively blowing up the filibuster. He highlighted that while he and other Democrats supported lowering the threshold to pass a bill in 2022, Republicans defended the filibuster relentlessly — a dramatic contrast from their current attempts to revoke California’s waivers under a simple majority vote. He noted that Republicans must know they don’t have enough votes to amend the Clean Air Act under regular order, instead opting to ignore the independent, nonpartisan Government Accountability Office (GAO) and the Senate Parliamentarian to pursue this “nuclear option.”
“It’s not just why Republicans are trying to undermine California’s climate leadership. It’s how they’re trying to do it.”
“Yes, I do support lowering the threshold to move to pass a bill from a super majority to a simple majority — but only after there has been an opportunity for amendments and debate — in an effort to stop the endless partisan gridlock that prevents so much more progress that the American people deserve. I voted to make that rule change — and codify it in the Senate rules. But in 2022 when we did so, Republicans opposed it, and they defended the filibuster and the 60-vote threshold as sacred.”
“Now, Republicans are trying to pass these bills — that strike at the heart of the Clean Air Act’s provision for California — on a simple majority, 50-vote threshold, bypassing the filibuster.”
“Republicans are effectively saying that whenever the Parliamentarian rules against them, they can simply disregard her to bypass the filibuster and pass legislation on a simple majority vote. So no, this isn’t some one-off change to the rules — this is throwing out the rulebook entirely.”
“Because if they can ignore the Parliamentarian here, then why not on an upcoming tax bill? Or on their efforts to gut health care for many Americans? Or whatever the latest overreach is called for by President Trump?”
Padilla underlined a list of non-rule actions the Trump Administration could take in bogging down Congress with reviews from the past 30 years on items including vaccine approvals, broadcast licenses, merger approvals, and more, enabling President Trump’s political retribution. He detailed Republican priorities a future Democratic Administration could try to undermine, including mining permits, fossil fuel projects, foreign policy, tax policies, and Department of Government Efficiency (DOGE) disruptions. He concluded with a final push urging his colleagues not to abuse the CRA to rescind California’s Clean Air Act waivers.
“So to my Republican colleagues, I should also say this: the old adage says, ‘what goes around comes around.’ And it won’t be long before Democrats are once again in the driver’s seat here, in the majority once again. And when that happens, all bets would be off because of the precedent you could be setting here at this moment.”
“I would urge my colleagues, all my colleagues, to join me not just in defending California’s right to protect the health of our residents, not just in combating the existential threat of climate change, but in maintaining order in this chamber.”
Senator Padilla has been outspoken in pushing back against Republican attacks on California’s Clean Air Act waivers. Earlier today, Padilla placed a hold on the four pending EPA nominees until Republicans stop their reckless attempts to overrule the Senate Parliamentarian. Earlier this month, Senators Padilla, Adam Schiff (D-Calif.), and Whitehouse took to the Senate floor to sound the alarm on Senate Republicans’ consideration of moving forward with their plan to revoke California’s Clean Air Act waivers. Padilla, Whitehouse, and Schumer also led Democratic Ranking Members in strongly warning Majority Leader Thune and Majority Whip John Barrasso (R-Wyo.) of the dangerous and irreparable consequences if Senate Republicans overrule the Senate Parliamentarian’s decision on California’s waivers.
Last month, Senators Padilla, Whitehouse, and Schiff welcomed the Senate Parliamentarian’s decision that the waivers are not subject to the CRA. Padilla also joined Whitehouse and Schiff in blasting Trump and EPA Administrator Lee Zeldin’s weaponization of the EPA after the GAO’s similar finding. Padilla and Schiff previously slammed the Trump Administration’s intent to roll back dozens of the EPA’s regulations that protect California’s air and water.
Video of Senator Padilla’s full remarks is available here.

MIL OSI USA News –

May 21, 2025
MIL-OSI Russia: Britain announces new sanctions against Russia

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

LONDON, May 21 (Xinhua) — The British government on Tuesday announced 100 new sanctions against Russia’s military, energy, financial sectors and those conducting information operations against Ukraine.

London said it was also working to lower the $60-a-barrel oil price ceiling, which would further limit Russian oil revenues.

On the same day, the European Union approved the 17th package of sanctions against Russia. The EU is trying to increase pressure on Russia to achieve a ceasefire in Ukraine.

In response to the sanctions, Russian Foreign Ministry spokesperson Maria Zakharova said that Russia never bows its head to ultimatums. It is obvious that Europe wants to rearm Ukraine to continue the war, she added. –0–

MIL OSI Russia News –

May 21, 2025
MIL-OSI Europe: NRRP steering committee meeting held at Palazzo Chigi

Source: Government of Italy (English)

A steering committee meeting for the National Recovery and Resilience Plan (NRRP) was held at Palazzo Chigi this afternoon, called and chaired by the Minister for European Affairs, the NRRP and Cohesion Policy, Tommaso Foti. The meeting, attended by all Ministers and Undersecretaries of State involved as well as by representatives from ANCI [National Association of Italian Municipalities], UPI [Union of Italian Provinces] and the Conference of Regions and Autonomous Provinces, approved a proposal for a technical review of the NRRP, aimed at ensuring its effective implementation, which will soon be submitted to Parliament and to the European Commission.
The update regards changes due to objectively new circumstances that have arisen as well as formal corrections, in full compliance with the EU regulation on the Recovery and Resilience Facility, which allows Member States to request amendments to their national plans.

During the steering committee meeting, which acknowledged the NRRP’s implementation status, Minister Foti shared amendment proposals from the administrations concerned as well as information linked to the constructive ongoing discussions with the European Commission regarding updates to the Plan, which, in any case, will not have an impact on its ambition or overall financial allocation.
In addition to a restructuring of rail investments to strengthen strategic lines, the proposal also provides for an increase in investments for the implementation of biomethane plants to develop a circular economy for waste and to incentivise the future of mobility through low environmental impact cars.

With regard to the Plan’s financial progress, to date, seven payment requests have been submitted and the corresponding disbursements have been made for the first six instalments, making Italy the EU Member State to have received the most funding, equal to EUR 122 billion, corresponding to 63% of the NRRP’s total resources. With the next payment of the seventh instalment, currently undergoing final review by the European Commission, Italy’s leading position in Europe in terms of the progress of its Plan will be confirmed, with EUR 140 billion received, corresponding to 72% of the total resources, and regarding performance, with approximately 55% of the planned goals achieved.

Discussions with the administrations concerned and with the European Commission are still ongoing to ensure full implementation of the Plan, also through an overall adjustment. This adjustment will follow the technical review proposal on the agenda for today’s steering committee meeting, which is to be discussed by Parliament in the coming days.

MIL OSI Europe News –

May 21, 2025
India’s strong domestic market cushions economy against global trade shocks: Report

Source: Government of India

Source: Government of India (4)

India is in a stronger position than other countries to withstand global trade disruptions, in the wake of the US tariff turmoil, due to the large size of its domestic market and the country’s low dependence on goods exports, according to a Moody’s report released on Wednesday.

The report points out that the government initiatives, such as increasing infrastructure investment, steps taken to boost private consumption, will help shield India’s economy from weakening global demand.

“India’s large domestic economy and limited exposure to global goods trade puts it in a stronger position to absorb external shocks,” the report said.

Some sectors — like automobiles, which export to the US — may encounter global headwinds, despite their diversified operations. But India’s robust services sector and large domestic economy provide strong buffers, according to the report.

The report also states that declining inflation is expected to pave the way for a soft monetary policy with interest rate cuts to spur growth. The banking sector also has sufficient liquidity to support credit growth, according to the report.

The Moody’s report also observes that the recent India-Pakistan tensions are more likely to weigh on Pakistan’s economy than India’s. The key economic hubs in India are far from the conflict zones, and bilateral economic ties remain limited.

However, a prolonged escalation could lead to increased defence spending, which might slow fiscal consolidation efforts and impact government finances, the report added.

Moody’s Ratings had earlier this month pegged India’s GDP growth at 6.3 per cent for 2025 and expects the economy to pick up momentum in 2026 to record a 6.5 per cent growth rate. The forecast is in line with the IMF outlook, which sees India as the only major economy in the world to record an over 6 per cent growth rate in 2025. (IANS)

May 21, 2025

MIL-OSI United Kingdom: UK House Price Index for March 2025

Source: United Kingdom – Executive Government Non-Ministerial Departments

Press release

UK House Price Index for March 2025

The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.

The March data shows:

on average, house prices have risen 1.1% since February 2025
there has been an annual price rise of 6.4% which makes the average property in the UK valued at £271,000

England

In England, the March Data shows on average, house prices rose by 1.3% since February 2025. The annual price rise of 6.7% takes the average property value to £296,000.

The North East experienced the most significant monthly increase with a movement of 4.2%
London saw the greatest monthly price fall, with a fall of -0.3%
The North East experienced the greatest annual price rise, up by 14.3%
London saw the lowest annual price growth, with a rise of 0.8%

The regional data for England indicates that:

Price change by region for England

Region	Average price March 2025	Annual change % since March 2024	Monthly change % since February 2025
East Midlands	£244,000	7.1	0.7
East of England	£344,000	6.5	1.4
London	£552,000	0.8	-0.3
North East	£168,000	14.3	4.2
North West	£217,000	9.4	2.5
South East	£386,000	5.3	0.7
South West	£311,000	5.3	0.7
West Midlands	£250,000	7.8	1.2
Yorkshire and the Humber	£211,000	9.5	2.0

Repossession sales by volume for England

The lowest number of repossession sales in January 2025 was in the South West.

The highest number of repossession sales in January 2025 was in the North East.

Repossession sales	January 2025
East Midlands	6
East of England	5
London	15
North East	20
North West	11
South East	12
South West	1
West Midlands	6
Yorkshire and the Humber	14
England	90

Average price by property type for England

Property type	March 2025	March 2024	Difference %
Detached	£471,000	£448,000	5
Semi-detached	£291,000	£268,000	8.5
Terraced	£247,000	£228,000	8.4
Flat/maisonette	£231,000	£222,000	3.9
All	£296,000	£277,000	6.7

Funding and buyer status for England

Transaction type	Average price March 2025	Annual price change % since March 2024	Monthly price change % since January 2025
Cash	£282,000	6	1.2
Mortgage	£301,000	7.1	1.3
First-time buyer	£250,000	7.7	1.9
Former owner occupier	£356,000	5.6	0.5

Building status for England

Building status*	Average price January 2025	Annual price change % since January 2024	Monthly price change % since December 2025
New build	£416,000	17.4	-1.1
Existing resold property	£285,000	3.6

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

London

London shows, on average, house prices decreased by 0.3% since Jan 2025. House prices have shown an annual price increase of 0.8% meaning the average price of a property is £552,000.

Average price by property type for London

Property type	March 2025	March 2024	Difference %
Detached	£1,097,000	£1,099,000	-0.3
Semi-detached	£694,000	£669,000	3.7
Terraced	£620,000	£606,000	2.2
Flat/maisonette	£444,000	£447,000	-0.7
All	£552,000	£547,000	0.8

Funding and buyer status for London

Transaction type	Average price March 2025	Annual price change % since March 2024	Monthly price change % since February 2025
Cash	£583,000	-2.1	-0.7
Mortgage	£546,000	1.7	-0.2
First-time buyer	£477,000	1.4	0.5
Former owner occupier	£677,000	-0.1	-1.6

Building status for London

Building status*	Average price January 2025	Annual price change % since January 2024	Monthly price change % since December 2024
New build	£564,000	11.9	-0.7
Existing resold property	£561,000	1.5	1.2

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

Wales

Wales shows, on average, house prices fell by 0.2% since February 2025. An annual price increase of 3.6% takes the average property value to £208,000

There were 3 repossession sales for Wales in January 2025.

Average price by property type for Wales

Property type	March 2025	March 2024	Difference %
Detached	£321,000	£318,000	0.9
Semi-detached	£208,000	£198,000	4.9
Terraced	£166,000	£158,000	4.9
Flat/maisonette	£133,000	£129,000	3.1
All	£208,000	£201,000	3.6

Funding and buyer status for Wales

Transaction type	Average price March 2025%	Annual price change % since March 2024	Monthly price change % since December 2024
Cash	£208,000	2.7	0.3
Mortgage	£208,000	4.1	0.2
First-time buyer	£180,000	4.6	0.6
Former owner occupier	£247,000	2.4	-0.3

Building status for Wales

Building status*	Average price January 2025	Annual price change % since January 2024	Monthly price change % since December 2024
New build	£355,000	19.9	-0.5
Existing resold property	£206,000	4.9	0.9

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

UK house prices

UK house prices rose by 6.4% in the year to March 2025, up from the revised estimate of 5.5% in the 12 months to Feb 2025. On a non-seasonally adjusted basis, average house prices in the UK increased by 1.1% between February 2025 and March 2025, compared with a increase 0.2% from the same period 12 months ago (February 24 and March 2024).

The UK Property Transactions Statistics showed that in March 2025, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 177,000. This is 104.3% higher than a year ago (March 2025). Between February 2025 and March 25, UK transactions increased by 61.7% on a seasonally adjusted basis.

House price monthly increase was highest in The North East where prices increased by 4.2% in the year to March 2025. The highest annual growth was in the The North East, where prices increased by 14.3% in the year to March 2025.

See the economic statement.

The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion. As with other indicators in the housing market, which typically fluctuate from month to month, it is important not to put too much weight on one month’s set of house price data.

Access the full UK HPI

Background

We publish the UK House Price Index (HPI) on the second or third Wednesday of each month with Northern Ireland figures updated quarterly. We will publish the April 2025 UK HPI at 9:30am on Wednesday 18 June 2025. See calendar of release dates.
We have made some changes to improve the accuracy of the UK HPI. We are not publishing average price and percentage change for new builds and existing resold property as done previously because there are not currently enough new build transactions to provide a reliable result. This means that in this month’s UK HPI reports, new builds and existing resold property are reported in line with the sales volumes currently available.
The UK HPI revision period has been extended to 13 months, following a review of the revision policy (see calculating the UK HPI section 4.4). This ensures the data used is more comprehensive.
Sales volume data is available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions that require us to create a new register, such as new builds, are more complex and require more time to process. Read revisions to the UK HPI data.
Revision tables are available for England and Wales within the downloadable data in CSV format. See about the UK HPI for more information.
HM Land Registry, Registers of Scotland, Land & Property Services/Northern Ireland Statistics and Research Agency and the Valuation Office Agency supply data for the UK HPI.
The Office for National Statistics (ONS) and Land & Property Services/Northern Ireland Statistics and Research Agency calculate the UK HPI. It applies a hedonic regression model that uses the various sources of data on property price, including HM Land Registry’s Price Paid Dataset, and attributes to produce estimates of the change in house prices each month. Find out more about the methodology used from the ONS and Northern Ireland Statistics & Research Agency.
We take the UK Property Transaction statistics from the HM Revenue and Customs (HMRC) monthly estimates of the number of residential and non-residential property transactions in the UK and its constituent countries. The number of property transactions in the UK is highly seasonal, with more activity in the summer months and less in the winter. This regular annual pattern can sometimes mask the underlying movements and trends in the data series. HMRC presents the UK aggregate transaction figures on a seasonally adjusted basis. We make adjustments for both the time of year and the construction of the calendar, including corrections for the position of Easter and the number of trading days in a particular month.
UK HPI seasonally adjusted series are calculated at regional and national levels only. See data tables.
The first estimate for new build average price (April 2016 report) was based on a small sample which can cause volatility. A three-month moving average has been applied to the latest estimate to remove some of this volatility.
The UK HPI reflects the final transaction price for sales of residential property. Using the geometric mean, it covers purchases at market value for owner-occupation and buy-to-let, excluding those purchases not at market value (such as re-mortgages), where the ‘price’ represents a valuation.
HM Land Registry provides information on residential property transactions for England and Wales, collected as part of the official registration process for properties that are sold for full market value.
The HM Land Registry dataset contains the sale price of the property, the date when the sale was completed, full address details, the type of property (detached, semi-detached, terraced or flat), if it is a newly built property or an established residential building and a variable to indicate if the property has been purchased as a financed transaction (using a mortgage) or as a non-financed transaction (cash purchase).
Repossession sales data is based on the number of transactions lodged with HM Land Registry by lenders exercising their power of sale.
For England, we show repossession sales volume recorded by government office region. For Wales, we provide repossession sales volume for the number of repossession sales.
Repossession sales data is available from April 2016 in CSV format. Find out more information about repossession sales.
We publish CSV files of the raw and cleansed aggregated data every month for England, Scotland and Wales. We publish Northern Ireland data on a quarterly basis. They are available for free use and re-use under the Open Government Licence.
HM Land Registry is a government department created in 1862. Its vision is: “A world-leading property market as part of a thriving economy and a sustainable future.”
HM Land Registry’s purpose is: “We protect your land ownership and provide services and data that underpin an efficient and informed property market.”
HM Land Registry safeguards land and property ownership valued at £8 trillion, enabling over £1 trillion worth of personal and commercial lending to be secured against property across England and Wales. The Land Register contains more than 26.5 million titles showing evidence of ownership for more than 89% of the land mass of England and Wales.
For further information about HM Land Registry visit www.gov.uk/land-registry.
Follow us on @HMLandRegistry, our blog, LinkedIn and Facebook

Contact

Press Office

Trafalgar House
1 Bedford Park
Croydon
CR0 2AQ

Email HMLRPressOffice@landregistry.gov.uk

Phone (Monday to Friday 8:30am to 5:30pm) 0300 006 3365

Mobile (5:30pm to 8:30am weekdays, all weekend and public holidays) 07864 689 344

Published 21 May 2025

MIL OSI United Kingdom –

May 21, 2025

MIL-OSI Europe: Rapidly shifting geopolitical environment could test euro area financial stability
Source: European Central Bank

21 May 2025
- Shifts in global trade policy lead to sharp increase in uncertainty, causing large spikes in financial market volatility
- Stretched valuations and low non-bank liquidity buffers leave financial markets vulnerable to further shocks
- Escalating trade tensions could adversely affect euro area firms and households, entailing credit risk for banks and non-banks
- Government finances may be negatively impacted by increased defence spending, although boost to growth cannot be excluded
A marked spike in uncertainty across global trade, defence, international cooperation and regulation policies could prove challenging for financial stability, according to the May 2025 Financial Stability Review, published today by the European Central Bank (ECB). Frequent shifts and reversals in tariff policy, alongside significant changes in the geopolitical environment, could have major economic and financial impacts. While global macroeconomic imbalances remain a long-standing issue in the policy debate, it is not clear that tariffs are the best-placed policy instrument to address them.

“Rising trade frictions and related downside risks to economic growth are weighing on the outlook for financial stability”, said ECB Vice-President Luis de Guindos.

The significant increase in trade policy uncertainty and trade frictions triggered large spikes in financial market volatility and raised the risk of an economic slowdown.

Financial markets across the globe sold off at an unsettling speed in early April, and financial conditions tightened notably. While risky assets had fully recovered their initial losses by mid-May, markets are still highly sensitive to tariff-related news. Equity markets in particular remain vulnerable to sudden and sharp adjustments as valuations are still high and concerns over risk concentrations persist. In an environment of heightened market volatility, euro area non-banks’ liquidity and leverage weaknesses could be revealed, amplifying market shocks.

Euro area firms and households have seen their balance sheets improve in recent years, but trade tensions and a weaker growth outlook imply future headwinds. The euro area is a very open economy, and trade frictions will affect those companies that rely on foreign trade, with potential knock-on effects for households if trade-related corporate vulnerabilities are exposed and result in lay-offs. In such an environment, credit risk exposure may rise for euro area banks and non-banks, although banks’ ability to absorb further asset quality deterioration should be supported by strong profitability and sizeable capital and liquidity buffers.

While sovereign debt-to-GDP ratios in the euro area have declined considerably after surging during the pandemic, fiscal fundamentals remain fragile in some countries. Plans to increase defence spending have the potential to boost economic growth if focused on productive investment, but could also pose risks given higher issuance needs at a time of rising funding costs. This higher defence spending, together with weaker growth and other structural challenges, such as those posed by climate change, digitalisation and ageing populations, could compound the already strained fiscal positions of some euro area governments.

In the current highly uncertain macro-financial and policy environment, preserving and strengthening the resilience of the financial system is key. In this context, macroprudential authorities should maintain existing capital buffer requirements and borrower-based measures to ensure sound lending standards. In addition, the growing market footprint and interconnectedness of non-banks calls for a comprehensive set of policy measures that will increase the resilience of the non-bank financial intermediation sector. Such resilience across the sector would also help to advance the integration of euro area capital markets.

For media queries, please contact Ettore Fanciulli, tel.: +49 69 1344 95012.
MIL OSI Europe News –
May 21, 2025
MIL-OSI New Zealand: Government decision to abandon proposed Digital Services Tax disappointing – Better Taxes

Source: Better Taxes for a Better Future

The decision by the Government to abandon the proposed Digital Services Tax has been described as very disappointing by the Better Taxes for a Better Future campaign, raising questions about how the Government intends to fill the revenue gap left by this move. It also raises questions about how the Government will ensure digital services companies are paying a fair rate of tax on their earnings in New Zealand.

The Digital Services Tax Bill, which was introduced by the previous Labour Government has been sitting on Parliament’s order paper since August 2023. It would have instituted a 3% tax on digital services revenue earned from New Zealand customers by large digital services companies. Treasury had already included the revenue from the proposed tax in its latest forecasts and estimated it would contribute $479m between 2027 and 2029.

“We need to know how the Government intends to plug the $479m revenue gap left by their decision to drop the Digital Services Tax, at a time when our public services, particularly health, are in crisis because of underfunding,” says Glenn Barclay spokesperson for the Better Taxes campaign.

“The digital economy has proven very difficult to tax and the absence of a digital services tax has allowed multi-national tech companies to avoid paying their fair share of tax in Aotearoa New Zealand.”

“Around 18 countries already operate digital services taxes, and while the American administration doesn’t like them, we are not aware of any countries repealing these laws in response to threats from the Trump administration,” says Glenn Barclay.

“Instead of giving in to such threats,the Government should have proceeded with the Bill, or at the very least left it on the Parliamentary Order Paper until it could be implemented or an alternative developed.”

“If the Government is stepping away from the Bill then we need to know how it intends to progress the taxation of multi-national tech companies in this country, to ensure that these companies contribute to this country, rather than just exploiting their privileged position.” says Glenn Barclay.

“We don’t share the Minister’s optimism about an enforceable agreement on minimum corporate tax rates at the OECD in the medium term in the face of opposition from the Trump Administration. New Zealand needs another solution.”

“In addition it leaves another big question mark over how the Government will ensure advertising-dependent news local media will survive when their news and advertising is being taken by the social media giants who don’t pay a fair rate of tax,” says Glenn Barclay.

ENDS

Media spokesperson: Glenn Barclay – 027 295 5110

The Better Taxes for a Better Future Campaign is a coalition of over 20 organisations led by Tax Justice Aotearoa.

We believe that tax reform is the only solution to the current challenges facing Aotearoa NZ. We need the tax system to:

be transparent
raise more revenue to enable us address the challenges we face
make sure people who have more to contribute make that contribution: that we gather more revenue from wealth, gains from wealth, all forms of income, and corporates
make greater use of fair taxes to promote good health and environmental health
address the tax impact on the least well off in our society.

MIL OSI New Zealand News –

May 21, 2025
MIL-OSI: ZeroBiometrics Unveils Breakthrough in AI Agent Security with Human-Bound Cryptographic Authentication

Source: GlobeNewswire (MIL-OSI)

SAN FRANCISCO, May 21, 2025 (GLOBE NEWSWIRE) — In a major leap forward for digital trust and AI governance, ZeroBiometrics has announced a groundbreaking innovation that securely links AI agents to real human identities using its proprietary, template-less biometric cryptographic technology. This advancement addresses one of the most urgent challenges in the AI age: ensuring that autonomous agents act with verifiable, human-authorized intent.

The new system allows AI agents—ranging from trading bots to autonomous customer support systems—to carry out transactions within strict, pre-defined limits, as enumerated in certificates issued by a biometrically-backed Certificate Authority. Humans are issued root or intermediate certificates via ZeroBiometrics’ privacy-preserving biometric authentication platform, which cryptographically verifies individuals in real time without storing or transmitting biometric templates. That person can issue end-entity certificates to AI Agents to allow them to act within a scoped set of capabilities and participate in a cryptographically verifiable digital identity framework. Certificates can extend an individual’s own identity, or can extend an organization’s identity.

“AI agents are becoming more powerful, but without trust anchors, they can be hijacked or abused,” said Alfred Chan, CEO of ZeroBiometrics. “Our technology ensures that every AI action can be traced to a real, authenticated person—who approved it, scoped it, and can revoke it.”

The solution leverages open standards and technology that underpins the internet today. It supports transactional controls such as time limits, financial caps, functional scopes, and revocable keys, and integrates easily into decentralized ledgers or enterprise PKI infrastructures. This positions ZeroBiometrics as a key enabler of safe AI deployment in finance, healthcare, logistics, and government applications.

By binding digital autonomy to real-world accountability, ZeroBiometrics isn’t just securing AI—it’s redefining digital authority for the post-password and Agentic AI driven world.

The MIL Network –

May 21, 2025
MIL-OSI Russia: St. Petersburg International Legal Forum: Vladimir Stroev spoke about training personnel for the modern economy

Translation. Region: Russian Federal

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

On May 20, 2025, the rector of the State University of Management Vladimir Stroyev took part in the session “Strategic planning and management of science: normative dimension”, which was held as part of the XIII St. Petersburg International Legal Forum.

Also participating in the discussion were First Deputy Chairman of the Supreme Court of the Russian Federation Petr Serkov, State Secretary – Deputy Minister of Agriculture of the Russian Federation Maxim Uvaidov, representatives of scientific and higher educational institutions. The meeting was moderated by Deputy Head of the Presidential Administration for Scientific and Educational Policy Elena Nechaeva.

The first issue of the meeting was an assessment of the prospects for eliminating barriers to the implementation of research and development results. The rector of the State University of Management noted that for research to be effective, it is important to involve industrial partners in the formation of the scientific agenda and R&D plan in the interests of specific customers, as well as the digitalization of research processes and the introduction of digital platforms for automated reporting.

Speaking about the practice of conducting research in universities, Vladimir Stroyev spoke about the innovations being implemented at the State University of Management in the scientific sphere and the educational process, which are aimed at solving the problem of achieving technological sovereignty of the country and training personnel for specific industrial partners.

“Over the past few years, there have been significant changes within the country, including in science and education, as well as in the attitude of business towards interaction with educational organizations. If earlier entrepreneurs preferred to order scientific developments abroad or from private companies, and to select employees directly on the labor market, today they have a different approach. Every week we have one or two meetings with representatives of different levels of business regarding personnel training, scientific and applied developments, which are often associated with the need to repair foreign equipment, develop analogs of parts and other reverse engineering tasks, which our specialists are engaged in,” the rector of the State University of Management noted.

Vladimir Vitalyevich also emphasized the importance of interaction between universities, which could be facilitated by digital platforms for collaboration. As an example, the rector cited the Design Bureau of the State University of Management, which, thanks to network interaction with design bureaus of other universities, fulfills orders for large corporations.

Vladimir Stroev named project-based learning, which is successfully implemented at the State University of Management, as another opportunity to unite employers and universities to train the necessary specialists.

“For three years now, 100% of our students have been participating in project activities, starting from their first year. That is, they are divided into groups and spend 1 day a week developing a project provided by a partner company, under the supervision of a representative of this organization. This is both professional practice and practicing soft skills. Moreover, these projects are posted on a special platform, where they are also purchased. As a result, students not only receive practical skills and a portfolio, but also have a completed project and their first income,” the rector shared.

In conclusion of his speech, Vladimir Stroyev recalled that the State University of Management was an engineering and economics university until the 1990s and for most of its history trained engineering personnel, something it is returning to today.

Elena Nechaeva noted that she is ready to come to the State University of Management in the near future “for a more detailed discussion of the practice of university science, because the personnel aspects of the development of science and technology are the foundation of foundations.”

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

MIL OSI Russia News –

May 21, 2025
MIL-OSI Asia-Pac: LCQ5: Accelerating the implementation of railway projects

Source: Hong Kong Government special administrative region

â€‹Following is a question by the Hon Michael Tien and a reply by the Secretary for Transport and Logistics, Ms Mable Chan, in the Legislative Council today (May 21):

Question:

There are views that as the Government is currently making vigorous efforts to develop the Northern Metropolis, it should expedite the implementation of various railway projects, such as the “Hung Kong Railway” linking Hung Shui Kiu to Hong Kong Island and the new cross-harbour railway between the coastal areas of Tuen Mun and Hong Kong Island. In this connection, will the Government inform this Council:

(1) as the Government has indicated earlier on that the co-ordination of railway projects by one single entity is conducive to maintaining cost-efficiency, and that splitting part of the railway project works into a public works project may not be able to help enhance the efficiency of such a project, but there are views that adopting the public-private-partnership (PPP) approach in taking forward the railway projects (e.g. handing over to the Government the infrastructure portion, which accounts for about 70 per cent of the overall works, while the MTR Corporation Limited will take charge of the remaining portion of the electrical and mechanical works, which accounts for about 30 per cent) may expedite the progress of such works, and the Government may also raise funds through bond issuance, and even if the debt-to-Gross Domestic Product (debt-to-GDP) ratio rises to 16 per cent in the future, Hong Kong’s debt-to-GDP ratio will still rank around 160 among some 170 economies, whether the Government will proactively explore and implement the PPP option in this regard; and

(2) whether it will consider formulating a labour importation scheme specifically for the railway projects, under which Mainland workers who travel on a same-day-return basis and are not entitled to any local benefits will be imported and exempted from the restriction that their wages should not be less than the median monthly wages of local workers in comparable positions, so as to reduce the cost of such projects; if so, of the timetable; if not, the reasons for that?

Reply:

President,

Following the principles of “infrastructure-led” and “capacity-creating”, the Government is pressing ahead with a series of major transport infrastructure projects in the Northern Metropolis (NM) to strengthen the connectivity among the various new development areas and with other districts, as well as to facilitate Hong Kong’s better integration into the national development through the construction of cross-boundary infrastructure.

The Government is carrying out preliminary planning and study for the development of the Kau Yi Chau Artificial Islands (KYCAI) and related strategic railway. The proposed strategic railway is primarily intended to enhance the connectivity of the artificial islands with the NM and the western part of Shenzhen, and its alignment and programme will have to tie in with the planning of the artificial islands. After reviewing the priorities and overall strategy of the various land creation and infrastructure projects, the Government considers that the development pace of the KYCAI could be eased. Separately, relevant departments are conducting a planning and engineering study on the near-shore reclamation in Lung Kwu Tan and the re-planning of Tuen Mun West area, and the transport connectivity of the said area with other districts will be examined in the process.

In consultation with the Financial Services and the Treasury Bureau, the Development Bureau and the Labour and Welfare Bureau, our reply to the various parts of the question raised by the Hon Michael Tien is as follows:

(1) To ensure that the NM and other strategic infrastructure projects can proceed on schedule and benefit the economy and people’s livelihood at an early juncture, the Government will leverage market resources in a more flexible manner and adopt more diverse development models. All along, the Government would formulate the most suitable implementation and financing arrangements of individual new railway project taking into account the distinct characteristics and specific circumstances of each project. Currently, railway projects are mainly implemented under the “Rail-plus-Property” model which has proven to be effective. The Government grants property development rights having regard to the funding gap of the project, while the railway company bears the commercial risks associated with the design, construction, operation and maintenance of the railway. Under this arrangement, the railway company would co-ordinate the works for the property development as well as those for the railway, which could enable synergy among the stations, depots and the property development, and also create incentive for the railway company to complete the railway project and thus enhance the value of the property development as early as possible. Where circumstances warrant, the Government does not preclude the possibility to provide financial support for new railway projects through or in combination with other means. In fact, there were railway projects being taken forward using other approaches.

The current practice of having a single entity to implement a railway project ensures seamless co-ordination across all aspects of the project, from design to construction. This also helps ensure that the design of the works fully takes into consideration cost-effectiveness, meeting operational needs while keeping cost under control. Splitting part of the works of a railway project into public works of the Government might not be able to help enhance the efficiency of the works due to interfaces between the works, and would also increase the Government’s fiscal burden. With projects related to the NM being rolled out progressively, as well as other infrastructure projects with socio-economic benefits, the Government will expand the scale of bond issuance correspondingly. Over the five years covered by the current Medium Range Forecast, the ratio of government debt to Gross Domestic Product is expected to rise from the current 9.5 per cent to 16.5 per cent, which remains to be a prudent and manageable level. The actual amount of bonds to be issued by the Government will take into consideration the prevailing fiscal position, market response and works progress. We will continue to adhere strictly to fiscal discipline and ensure the fiscal prudence of our overall bond issuance programmes and sustainability of our public finances.

The MTR Corporation Limited (MTRCL) has been playing a pivotal role in driving Hong Kong’s development. We are aware of public concerns about the possible pressure on the MTRCL’s manpower and resource when taking forward multiple new railway projects simultaneously. The Government has reminded the MTRCL’s management of the need to strategically plan its treasury management, and make financing arrangements through appropriate means such as bond issuance having regard to its liquidity needs, so as to support the corporation’s operation and continuous development. At the same time, the MTRCL must strictly control the costs and compress the programmes of its railway projects in order to enhance the financial viability of the projects.

To enhance speed and efficiency in implementing railway projects, the Government will continue to optimise and streamline procedures through “dual innovation” in policy and technology, so as to save construction time and manpower. Subject to local circumstances and existing legal framework, the Government is also actively exploring ways to facilitate the use of Mainland’s construction methods and capabilities in constructing cross-boundary railway projects. In addition, when taking forward independent new railways or transport infrastructure projects, the Government will consider introducing new entities in their implementation. This would not only help relieve the pressure on the MTRCL, but also enable new entities to introduce innovative technologies and bring in more diverse financing sources.

(2) The existing Labour Importation Scheme for Construction Sector (Construction Sector Scheme) allows principal contractors of eligible works contracts to apply for importation of labour. The requirements for importing labour under the Construction Sector Scheme are formulated by the Government in accordance with Hong Kong’s labour policy. Principal contractors of railway projects may also apply for importation of labour under this scheme as needed.

In the case of cross-boundary railway projects, the adoption of Mainland construction teams would work better with the above-mentioned idea of leveraging the Mainland’s construction methods and capabilities and achieve maximum effectiveness. Taking the subsea railway tunnel of the Hong Kong-Shenzhen Western Rail Link at the Deep Bay as an example, it would be more efficient and cost-effective for the Shenzhen side to construct the tunnel by unidirectional tunneling method. The Government will seriously study the implementation of specific arrangements for employment of Mainland labour in cross-boundary railway projects in light of the projects’ unique nature.

MIL OSI Asia Pacific News –

May 21, 2025
MIL-OSI Asia-Pac: LCQ6: Supporting freight and logistics sector

Source: Hong Kong Government special administrative region

Following is a question by the Hon Frankie Yick and a reply by the Secretary for Transport and Logistics, Ms Mable Chan, in the Legislative Council today (May 21):

Question:

There are views pointing out that although the United States (“US”) has seen its ranking as Hong Kong’s major important trading partner decline in recent years, the imposition of high tariffs on Hong Kong goods and the elimination of the duty-free de minimis treatment for small parcels continue to have a significant impact on Hong Kong’s freight and logistics sector. Members of the sector have predicted that the US tariff trade war against China will lead to a sustained decline in Hong Kong’s freight volumes and could trigger an immediate supply chain disruption crisis, and the measures taken under the five major strategies as indicated earlier on by the Secretary of Transport and Logistics will be difficult to see results in the short term. In this connection, will the Government inform this Council:

(1) whether it has assessed the specific impact of the tariff trade wars launched by US to date on Hong Kong’s freight and logistics sector (including sea, land, and air transport);

(2) in order to make up for the shortfall resulting from the loss of the US market and to consolidate Hong Kong’s position as a regional logistics hub, of the short-term measures taken by the authorities to assist the logistics sector in accelerating the development of new markets; and

(3) in response to cash flow problems faced by logistics companies due to shipment delays or cancellations caused by the tariff trade wars, of the support measures put in place by the Government, such as the consideration of providing low-interest loans to these companies to address their immediate needs?

Reply:

President,

Hong Kong has long supported and upheld the multilateral trading system. The imposition of tariffs and other trade protectionist measures by certain countries not only disregards Hong Kong’s status as a free port with zero tariffs, but also damages the global multilateral trading system. Such measures disrupt global supply chains, harming all parties involved including the implementing countries themselves.

As previously announced by the Chief Executive, in response to the relevant developments, the Government will strengthen its strategy in seven areas, including to fully seize the opportunities in our country, China’s development, and actively integrate into the national development; to strengthen international exchanges and deepen regional ties and co-operation; to accelerate industrial transformation; to intensify efforts to develop technological innovation; to vigorously advance international financial co-operation; to proactively attract foreign companies and capital to establish in Hong Kong; and to provide various support to help Hong Kong enterprises.

Having consulted the Commerce and Economic Development Bureau and the Hong Kong Monetary Authority (HKMA), our reply to the Hon Frankie Yick’s question is as follows:

(1) Hong Kong recorded a 3.2 per cent year-on-year increase in air cargo volume in thefirst quarter of 2024, reaching 1.16 million tonnes. Container throughput of our port also grew by 2.7 per cent year-on-year to approximately 3.4 million twenty-foot equivalent units. The observed growth in cargo volumes is believed to be attributable to shippers’ urgency to ship goods ahead of the anticipated implementation of reciprocal tariffs. Recently, our country and the United States (US) have reached a provisional agreement to reduce bilateral tariffs for 90 days. It is expected that shippers will maximise shipments during this window. However, it is expected such volume growth is unlikely to be sustained. In fact, the negative impact of the reckless imposition of tariffs by the US on global trade will be far-reaching. The overall global trade volume is expected to fall, and the logistics industry will inevitably be affected.

(2) In light of the new international trade environment, we must make preparations to avoid and mitigate risks while seizing new opportunities arising from the changing landscape. To this end, the Transport and Logistics Bureau will closely monitor developments, maintain proactive engagement with the trade, and lead Hong Kong’s logistics sector to cope with challenges by adopting five major strategies.

Firstly, we will explore emerging markets including the Middle East and the Association of South East Asian Nations (ASEAN), while continuing our collaboration with the Hong Kong Logistics Development Council (LOGSCOUNCIL) to promote Hong Kong’s logistics advantages by conducting promotional visits to and exploring other markets along the “Belt and Road”. Secondly, we will strengthen collaboration with ports located in the Guangdong-Hong Kong-Macao Greater Bay Area, and establish a comprehensive “rail-sea-land-river” intermodal transport system, thereby developing new cargo sources. Thirdly, we are actively studying the exemption of the import and export licence requirements for certain products to attract more transhipment cargoes. Fourthly, we will deepen international port and shipping co-operation by pursuing digitalisation and green and smart transformation of our port to enhance Hong Kong’s port competitiveness. Fifthly, we will further expand Hong Kong’s maritime and aviation networks to diversify our markets and reduce reliance on the US market.

(3) The HKSAR Government has been assisting small and medium enterprises (SMEs) in addressing challenges and maintaining competiveness amid a complicated and ever-changing economic environment through various funding schemes and support measures. As regards alleviating cash flow pressure, the Government has kept on enhancing the SME Financing Guarantee Scheme (SFGS) so as to meet the financing needs of SMEs during the economic downturn. Borrowing enterprises under the SFGS (including enterprises in the logistics sector) are now allowed to apply for principal moratorium arrangement for up to 12 months (the application period will last until November 17, 2025), and the maximum loan guarantee periods of the 80% and 90% Guarantee Products be extended to ten years and eight years respectively. At the same time, the partial principal repayment options will be offered to new loans so as to provide more repayment flexibility.

The HKMA, together with the banking sector, introduced in April 2025 additional support measures to further assist SMEs in obtaining bank financing and in their upgrade and transformation. In addition, all the 18 participating banks in the Taskforce on SME Lending have reaffirmed their commitment to actively implementing the “9+5” SME support measures launched by the HKMA and the banking sector in 2024. Referencing the principles under the Pre-approved Principal Payment Holiday Scheme, the banking sector will continue offering flexible repayment arrangements and deferment of repayment period. The total amount of dedicated funds for SMEs set aside by these banks in their loan portfolio has increased from $370 billion in October 2024 to more than $390 billion at present.

As regards export credit insurance, further to the 2024 Policy Address initiative on increasing the maximum indemnity percentage of the Hong Kong Export Credit Insurance Corporation (ECIC) to 95 per cent, ECIC already launched three more support measures on April 10, 2025, including extending the free pre-shipment cover for holders of the Small Business Policy (SBP); offering a 50 per cent discount on pre-shipment risks to cover premiums for non-SBP holders; and aligning the premium rates for new markets with those for traditional markets to assist exporters in tapping into the new markets. ECIC will also provide 20 additional free credit assessment service on the buyers in the Mainland, ASEAN and Middle East, collaborate with various financial institutions to provide financing support for e-commerce, and providing credit insurance for export services relating to multinational supply chain to support Hong Kong export trade.

Thank you, President.

MIL OSI Asia Pacific News –

May 21, 2025
MIL-OSI: IDEX Biometrics ASA: Approved prospectus – 21 May 2025
Source: GlobeNewswire (MIL-OSI)

Reference is made to the stock exchange announcements issued by IDEX Biometrics ASA (the “Company”) on 11 March and 11 April 2025 regarding the successful loan financing of NOK 30 million and the subsequent conversion of such debt to shares in the Company at a subscription price of NOK 0.01 per share, resulting in the issuance of 3,000,000,000 new shares (“Debt Conversion” and “Debt Conversion Shares”), the subsequent offering of up to 600,000,000 new shares at a subscription price equal to the subscription price in the Debt Conversion (“Subsequent Offering” and the “Offer Shares”), and the amendment of a certain senior convertible bond (the “Convertible Bond”) issued by an affiliate of Heights Capital Management (“Heights”) to the Company, whereby, among other things, the principal amount of the Convertible Bond was reduced to an aggregate principal amount of NOK 49,980,000.

The listing of the Debt Conversion Shares, the Subsequent Offering and the listing of the Offer Shares remain subject to approval of a prospectus (“Prospectus”) by the Financial Supervisory Authority of Norway (“FSA”), and the subsequent publication of such Prospectus by the Company. Further, the future listing of shares that may be issued by the Company upon conversion of the Convertible Bond (the conversion price currently being NOK 0.065, but which conversion price is subject to customary adjustment provisions) also remains subject to approval and publication of a Prospectus.

The FSA has today approved the Prospectus. As a result of the above, the subscription period for the Subsequent Offering starts on 22 May 2025 and expires on 5 June 2025 at 16:30 CET. For further information on the Subsequent Offering, please refer to the Prospectus.

Further, by reason of the approval and publication of the Prospectus, the Debt Conversion Shares will be transferred to the Company’s ordinary ISIN and be admitted to trading on Oslo Børs.

The Prospectus is enclosed with this announcement. It will also be available in electronic format at www.idexbiometrics.com/investors/share-information/prospectuses .

Printed copies of the Prospectus may be obtained free of charge at the office of IDEX Biometrics ASA, Dronning Eufemias gate 16, NO-0191 Oslo, Norway, telephone +47 6783 9119 or by e-mail: companysecretary@idexbiometrics.com.

Arctic Securities AS acts as financial advisor and bookrunner in connection with the Subsequent Offering (the “Manager”). Ræder Bing advokatfirma AS acts as the Company’s legal advisor.

For further information, please contact:

Kristian Flaten, CFO, Tel: +47 95092322

E-mail: ir@idexbiometrics.com

About IDEX Biometrics:

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

About this notice:

This notice was issued by Kristian Flaten, CFO, on 21 May 2025 at 08:45 CET on behalf of IDEX Biometrics ASA. This information is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act section 5-12.

Attachment
- 2025-05-21 Prospectus incl subscription form- IDEX Biometrics ASA
The MIL Network –
May 21, 2025
MIL-OSI: BAYC#7537 AI computing satellite was successfully launched! Web3 interstellar computing era officially started

Source: GlobeNewswire (MIL-OSI)

LONDON, May 21, 2025 (GLOBE NEWSWIRE) — On May 14, 2025, 12:12 p.m. (Beijing Time), Adaspace successfully launched 12 satellites of the Space Computing Constellation 021 Mission from Jiuquan Satellite Launch Center through the Long March 2D launch vehicle. The successful entry of the satellites into the intended orbit marks the successful launch of the world’s first space computing constellation, which will open a new chapter of the global “space computing era”. Space Computing Constellation 021 Mission is not only the first constellation of “Star-Compute” program initiated by Adaspace, but also the first constellation of “Three-Body Computing Constellation” of Zhejiang Lab. The constellation consists of 12 computing satellites in one orbit invested by different entities and developed by Adaspace. The launch and orbiting of BAYC#7537 computing satellite marks Web3’s transformation from the virtual economy to the space computing network.

According to the introduction, the “protagonist” of this launch consists of 12 computing satellites in one orbit invested by different entities and developed by Adaspace, including Neijiang (Star Era-27), Neijiang High-Tech (Star Era-28), Taizhou (Star Era-29), Haikou (Star Era-30), Ma’anshan Intelligent Computing-1 (Star Era-31), Chongzhou (Star Era-32), Tiantie Technology (Star Era-33), BAYC #7573 (Star Era-34), Yukongzhe (Star Era-35), “Grand Neobay”(Star Era-36), Zhejiang-1 (Star Era-37) and Zhejiang-2 (Star Era-38). After the assembly of 12 satellites in one orbit, the on-orbit verification and application of the basic functions of space-based computing, such as chain building, networking and cloud formation, will be finished through interstellar laser high-speed interconnection, stable constellation networking and distributed computing management.

What is a computing constellation? In the past, satellites were only used for communication, navigation and remote sensing. Computing satellites are defined as the fourth type of satellites, which will become the basis of the first three satellites, and then form a new network system called computing constellation through the interconnection of satellites.

According to Wang Jian, academician of Chinese Academy of Engineering and director of Zhejiang Lab, the constellation can raise the computing power of a single satellite from level T to level P and realize interconnection between satellites like the Internet connects different computers together. “The construction of space computing constellation enables the single satellite to be of greater value and has far-reaching implications for the transformation of the aerospace industry.”

“The primary mission of this launch is to realize the transformation from ‘computing on Earth’ to ‘computing in space’ for specific scenarios to meet the growing demand for space-based instant computing and to help China take the lead in building a space computing infrastructure in the world.” The relevant official of Adaspace said. In short, support computing power with space power.

As a representative sign in the series, the holder of BAYC #7573 has repeatedly promoted the innovative application of AI. Naming the satellite after BAYC #7573 AI not only recognizes its cultural value, but also symbolizes the Web3 community’s deep involvement in cutting-edge technology. Both AI computing and Web3 have empowered the future.

Media Contact:

Organization: BAYC

Contact Person: David

Website: bayc.io

Email: bd@bayc.io

Disclaimer: This press release is provided by BAYC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. Speculate only with funds that you can afford to lose. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/5a3dabf0-7692-42c8-b37f-13134f2f0cda

https://www.globenewswire.com/NewsRoom/AttachmentNg/5fc50272-48c8-4c99-b2d1-e6d527a23044

https://www.globenewswire.com/NewsRoom/AttachmentNg/90af1890-a355-49c4-b802-e354defca0a8

https://www.globenewswire.com/NewsRoom/AttachmentNg/cb9bb469-89e7-4853-a89a-6095c17f8c0c

The MIL Network –

May 21, 2025
MIL-OSI Russia: How the Investment Packaging program helps entrepreneurs

Translation. Region: Russian Federal

Source: Moscow Government – Government of Moscow –

Since its launch, the Investment Packaging program has been used by over 1,100 business representatives. 285 companies have undergone practical training and developed materials to attract investors, and 171 startups took part in 31 final pitch sessions to present the project, organized by the Moscow Innovation Cluster.

“Investment Packaging” is a training program for aspiring entrepreneurs on creating an investment presentation and a financial model for a startup, which has been operating in Moscow since 2021. It consists of two modules. Participants are given the opportunity to develop materials for presentation to an investor and attract funding, as well as prepare for a pitch session before it.

You can apply for the program at any time on the platform I. Moskov. The theoretical module is available to individual entrepreneurs, individuals and legal entities from all over the country. The practical module is only for participants of the Moscow Innovation Cluster.

“Investment packaging is an ongoing program. And during its operation, we have developed a profile of companies wishing to present their project to investors. These are mainly developers of software for business, medical technologies, consumer goods and services, educational and industrial technologies. According to surveys, the average request for investment from companies is 10 million rubles. Most often, last year, program participants were companies aged four years and with a median revenue of nine million rubles,” said

Kristina Kostroma, Head of the Department of Entrepreneurship and Innovative Development of the City of Moscow.

Thus, the program involved a company that produces M1 and M2 monoblocks for automation of checkout areas and self-service areas. The terminals are based on the latest technologies and help speed up the trading process, reduce queues and increase the convenience of shopping. M1 and M2 were developed in Russia specifically for retail and catering outlets with a high customer flow. The Investment Packaging program helped the company update its knowledge, develop an investment presentation and update product prices. Thanks to the Moscow Innovation Cluster, the manufacturer met one of the chain stores with which it is now negotiating the supply of monoblocks for checkouts.

A business management software developer also completed the program. The system includes business and project management solutions, document search, task analysis, and process optimization based on artificial intelligence. Thanks to the knowledge gained, the company was able to better understand how to effectively present its project and attract the attention of potential investors.

Training courses and technology competitions: what non-financial support measures are popular with businesses in Moscow More than a thousand Russian enterprises have been included in the register of startups and high-tech companies in Moscow

Moscow Innovation Cluster promotes the creation of conditions for the implementation of priority areas of scientific and technical development in the capital: the development and implementation of innovative technologies, ensuring scientific, technical and industrial cooperation, effective interaction of all participants in the Moscow innovation ecosystem. The cluster includes more than 40 thousand organizations from Moscow and 86 regions of Russia. More than 50 services are available to developers and high-tech businesses. The project is supervised by the capital Department of Entrepreneurship and Innovative Development.

Demand for the Moscow Innovation Cluster’s online platform has grown 2.5 times in a year Sobyanin: Developments by Moscow InnoCluster participants simplify people’s work

Get the latest news quicklyofficial telegram channel the city of Moscow.

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

https: //vv.mos.ru/nevs/ite/154032073/

MIL OSI Russia News –

May 21, 2025
WHO members adopt global pandemic accord, but US absence casts doubts

Source: Government of India

Source: Government of India (4)

Members of the World Health Organization adopted an agreement on Tuesday intended to improve preparedness for future pandemics following the disjointed global response to COVID-19, but the absence of the U.S. cast doubt on the treaty’s effectiveness.

After three years of negotiations, the legally binding pact was adopted by the World Health Assembly in Geneva. WHO member countries welcomed its passing with applause.

The pact was touted as a victory for members of the global health agency at a time when multilateral organisations like the WHO have been battered by sharp cuts in U.S. foreign funding.

“The agreement is a victory for public health, science and multilateral action. It will ensure we, collectively, can better protect the world from future pandemic threats,” said WHO Director-General Tedros Adhanom Ghebreyesus.

The pact aims to ensure that drugs, therapeutics and vaccines are globally accessible when the next pandemic hits. It requires participating manufacturers to allocate a target of 20% of their vaccines, medicines and tests to the WHO during a pandemic to ensure poorer countries have access.

However, U.S. negotiators left discussions about the accord after President Donald Trump began a 12-month process of withdrawing the U.S. – by far the WHO’s largest financial backer – from the agency when he took office in January.

Given this, the U.S., which poured billions of dollars into vaccine development during the COVID pandemic, would not be bound by the pact. And WHO member states would not face penalties if they failed to implement it.

U.S. Health and Human Services Secretary Robert F. Kennedy Jr. slammed the World Health Organization in a video address to the Assembly, saying it had failed to learn from the lessons of the pandemic with the new agreement.

“It has doubled down with the pandemic agreement which will lock in all of the dysfunction of the WHO pandemic response… We’re not going to participate in that,” he said.

LATE CHALLENGE

The deal was reached after Slovakia called for a vote on Monday, as its COVID-19 vaccine–sceptic prime minister demanded that his country challenge the adoption of the agreement.

One hundred and twenty-four countries voted in favour, no countries voted against, while 11 countries, including Poland, Israel, Italy, Russia, Slovakia and Iran, abstained.

Some health experts welcomed the treaty as a step towards greater fairness in global health after poorer nations were left short of vaccines and diagnostics during the COVID-19 pandemic.

“It contains critical provisions, especially in research and development, that — if implemented — could shift the global pandemic response toward greater equity,” Michelle Childs, Policy Advocacy Director at Drugs for Neglected Diseases initiative, told Reuters.

Others said the agreement did not meet initial ambitions and that, without strong implementation frameworks, it risked falling short in a future pandemic.

“It is an empty shell… It’s difficult to say that it’s a treaty with firm obligation where there is a strong commitment… It’s a good starting point. But it will have to be developed,” said Gian Luca Burci, an academic adviser at the Global Health Centre at the Geneva Graduate Institute, an independent research and education organisation.

Helen Clark the co-Chair of The Independent Panel for Pandemic Preparedness and Response, described the accord as a foundation to build from.

“Many gaps remain in finance, equitable access to medical countermeasures and in understanding evolving risks,” she added.

The pact will not go into effect until an annex on sharing of pathogenic information is agreed. Negotiations on this would start in July with the aim of delivering the annex to the World Health Assembly for adoption, WHO said. A Western diplomatic source suggested it may take up to two years to be agreed.

(Reuters)

May 21, 2025
MIL-OSI Russia: Syria, Jordan to create coordination council to strengthen cooperation

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

DAMASCUS, May 21 (Xinhua) — Syria and Jordan on Tuesday signed a memorandum of understanding to establish a coordination council aimed at strengthening bilateral cooperation.

The agreement was signed in Damascus by Syrian Foreign Minister Asaad al-Shibani and Jordanian Deputy Prime Minister and Foreign Minister Ayman al-Safadi. It outlines plans to strengthen cooperation in key sectors such as energy, water, health and transport.

The creation of the council, agreed upon during A. al-Safadi’s visit to Damascus on April 17, came amid reports that the EU intends to lift economic sanctions on Syria.

A. al-Shibani noted that the easing of European sanctions will contribute to the expansion of regional cooperation.

A. al-Safadi said that the establishment of the coordination council is aimed at resuming joint initiatives in the critical infrastructure and humanitarian sectors. “Syria’s stability is crucial for the stability of the region,” he added.

The parties condemned the repeated Israeli airstrikes on Syrian territory. A. al-Shibani stressed that Damascus “maintains contact with the US and Europe” to put pressure on Israel.

A. al-Safadi said that Israel’s attacks on southern Syria also threaten Jordan’s security. “External interference in Syria must stop,” he said, adding that “Jordan sees Syria as its gateway to Europe, and Syria sees Jordan as a bridge to the Persian Gulf.”

A. al-Shibani reiterated Syria’s commitment to open diplomacy and national reconstruction, saying the country’s priority is stabilizing the economy, rebuilding energy infrastructure and facilitating the return of refugees. –0–

MIL OSI Russia News –

May 21, 2025
India’s Q4 FY25 GDP Growth Projected at 6.4-6.5% Despite Global Headwinds: SBI

Source: Government of India

Source: Government of India (4)

Despite weathering effects precipitated by global upheavals, the Indian economy stays largely resilient and is projected to clock a GDP growth of around 6.4-6.5 per cent in Q4 FY25, an SBI report said on Wednesday.

To estimate GDP statistically, the State Bank of India’s Economic Research Department has built a ‘Nowcasting Model’ with 36 high-frequency indicators associated with industry activity, service activity, and the global economy.

The model uses the dynamic factor model to estimate the common or representative or latent factor of all the high-frequency indicators from Q4 of FY13 to Q2 of FY23.

“As per our ‘Nowcasting Model’, the forecasted GDP growth for Q4 FY25 should come in around 6.4-6.5 per cent,” said Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor, SBI.

Assuming there are no major revisions in Q1 to Q3 estimates in the upcoming data release by NSO, “we expect FY25 GDP to stand at 6.3 per cent,” Ghosh mentioned.

The India Meteorological Department (IMD) has said the southwest monsoon is likely to arrive in Kerala within the next four to five days — well ahead of its normal onset date of June 1.

If the monsoon arrives in Kerala as anticipated, it would mark the earliest onset over mainland India since 2009, when it began on May 23.

“India is targeting 354.64 million tonnes of foodgrain production in the 2025-26 crop year starting July, on the forecast of better monsoon rains. In the current 2024-25 crop year, the government had set a target of 341.55 million tonnes of foodgrain production (so far: 332.3 million tonnes),” the SBI report mentioned.

Further, taking a cue from a household survey, a slowdown in current household inflation expectations encourages higher discretionary spending and drives demand-led growth. However, the status quo in consumer confidence suggests that households are uncertain about global developments and economic prospects – caution is somewhat writ large on sustainable growth from a short-term perspective.

The swift escalation of trade tensions and extremely high levels of policy uncertainty are expected to have a significant impact on global economic activity. As per the IMF, global growth is projected to drop to 2.8 per cent in 2025 and 3 per cent in 2026.

“For India, the growth outlook is relatively more stable at 6.2 per cent in FY25 (6.3 per cent for FY26), supported by private consumption, particularly in rural areas, but this rate is 30 bps lower than the earlier estimate on account of higher levels of trade tensions and global uncertainty,” the report mentioned.

(IANS)

May 21, 2025
India’s GDP growth in Q4 FY25 to remain robust around 6.4-6.5 pc: SBI report

Source: Government of India

Source: Government of India (4)

Despite weathering effects precipitated by global upheavals, Indian economy stays largely resilient and is projected to clock a GDP growth around 6.4-6.5 per cent in Q4 FY25, an SBI report said on Wednesday.

To estimate GDP statistically, the State Bank of India’s Economic Research Department has built a ‘Nowcasting Model’ with 36 high frequency indicators associated with industry activity, service activity, and global economy.

The model uses the dynamic factor model to estimate the common or representative or latent factor of all the high frequency indicators from Q4 of FY13 to Q2 of FY23. “As per our ‘Nowcasting Model’, the forecasted GDP growth for Q4 FY25 should come around 6.4-6.5 per cent,” said Dr Soumya Kanti Ghosh, Group Chief Economic Advisor, SBI.

Assuming there are no major revisions in Q1 to Q3 estimates in the upcoming data release by NSO, “we expect FY25 GDP to stand at 6.3 per cent,” Ghosh mentioned. The India Meteorological Department (IMD) has said the southwest monsoon is likely to arrive in Kerala within the next four to five days — well ahead of its normal onset date of June 1.

If the monsoon arrives in Kerala as anticipated, it would mark the earliest onset over mainland India since 2009, when it began on May 23.

“India is targeting 354.64 million tonnes of foodgrain production in the 2025-26 crop year starting July on the forecast of better monsoon rains. In the current 2024-25 crop year, the government had set a target of 341.55 million tonnes of foodgrain production (so far: 332.3 million tonnes),” the SBI report mentioned.

Further, taking a cue from household survey, slowdown in current household inflation expectations encourages higher discretionary spending and drives demand-led growth while status quo in consumer confidence suggests that households are uncertain about the global developments and economic prospects – caution somewhat writ large on sustainable growth from a short-term perspective.

The swift escalation of trade tensions and extremely high levels of policy uncertainty are expected to have a significant impact on global economic activity. AS per IMF, global growth is projected to drop to 2.8 per cent in 2025 and 3 per cent in 2026.

“For India, the growth outlook is relatively more stable at 6.2 per cent in FY25 (6.3 per cent for FY26), supported by private consumption, particularly in rural areas, but this rate is 30 bps lower than the earlier estimate on account of higher levels of trade tensions and global uncertainty,” the report mentioned. (IANS)

May 21, 2025
MIL-OSI: Sterling Trading Tech and eflow Global launch webinar series on risk management in volatile markets

Source: GlobeNewswire (MIL-OSI)

CHICAGO and LONDON, May 21, 2025 (GLOBE NEWSWIRE) — Sterling Trading Tech (Sterling), a leading global provider of technology in order management, risk and margin, and trading, and eflow Global (eflow), an award-winning regulatory compliance technology vendor, today announced the launch of a joint webinar series focused on preparing firms for volatile markets.

The series, Lines of Defense: A Modern Risk Playbook, will feature short, informative sessions designed to help firms better understand how to navigate market uncertainty. Each webinar will highlight how Sterling and eflow’s combined solutions reduce operational workloads, lower the risk of human error, eliminate manual processes, and provide scalable, cost-effective infrastructure to support financial institutions during periods of fast-moving market volatility.

This collaborative effort reflects Sterling and eflow’s shared commitment to helping firms modernize their risk management and compliance frameworks through practical, technology-driven strategies. As ongoing geo-political, economic and societal change increases the likelihood of market volatility that will test operational resilience, Sterling and eflow aim to provide actionable insights that firms can immediately leverage.

Said Sterling Trading Tech President & CEO Jen Nayar: “Supporting our clients through changing market conditions is at the core of what we do. By partnering with eflow, we are delivering a focused educational series to help firms strengthen their operations, enhance their risk management practices, and better position themselves for what’s next.”

eflow Global CEO Ben Parker added, “Volatile markets demand robust, scalable solutions. Through this series, we are offering firms clear, practical guidance on how to build greater resilience into their regulatory operations. We are excited to partner with Sterling to deliver these timely insights to the market.”

The first webinar in the series will take place in June 2025, with additional sessions planned through July. Registration details can be accessed through this link here.

-END-

About Sterling Trading Tech
Sterling Trading Tech (Sterling) is a leading provider of professional trading technology solutions for the global equities, equity options, futures, fixed income, mutual funds, FX and crypto markets. With over 100 clients including leading brokers, clearing firms, and prop groups in over 20 countries, Sterling provides solutions tailored to clients’ needs. Sterling is committed to providing fast, stable technology along with outstanding customer service.

About eflow Global
Founded in 2004, eflow Global provides financial firms with technology solutions to help them comply with their regulatory requirements in a more streamlined, efficient and robust way. It offers award-winning solutions for market abuse surveillance, best execution, transaction-cost analysis, transaction reporting and eComms surveillance. The company currently services over 130 clients across five continents, providing both buy-side and sell-side firms with highly configurable digital tools that are designed to keep them compliant and competitive in this ever-changing regulatory landscape.

Media Contacts
Wendy Chan
The Realization Group for Sterling Trading Tech
wendy.chan@therealizationgroup.com
+1 646 535 8899

Rosie Lane
CommsCo for eflow Global
rlane@thecommsco.com
+44 7770 239888

The MIL Network –

May 21, 2025
MIL-OSI United Kingdom: Shining a light on the fostering community’s powerful relationships

Source: City of Portsmouth

Foster Portsmouth, Portsmouth City Council’s fostering service, is encouraging people in Portsmouth and the surrounding areas to consider becoming foster carers this Foster Care Fortnight (12-25 May).

Throughout the two weeks, Foster Portsmouth will be joining others across the UK to celebrate the fostering community, raise awareness of the life-changing impact fostering can have, and highlight the urgent need for more loving foster families in and around the city.

Foster Portsmouth marked the start of the fortnight by lighting up the Spinnaker Tower in their brand colours and are flying their flag outside the Civic Offices for the duration.

They will also be holding their spring drop-in foster carer recruitment event on Saturday 24 May between 10am-1pm at the Holiday Inn, Farlington as Foster Care Fortnight draws to a close.

Councillor Nick Dorrington, Cabinet Member for Children, Families and Education at Portsmouth City Council, said:

“The drop-in event will enable people, who wish to find out more about fostering and our ‘team around the child’, to talk directly to existing foster carers about the rewards of fostering children and young people.”

“Our fostering community is one of our key strengths. As a ‘small but mighty’ not-for-profit fostering service, we get to know our foster carers and the children or young people in our care, and they’re able to stay close to their families, friends, schools and community links.”

“As a result, we’re able to build a strong close-knit community spirit, and our foster carers collaborate closely with social workers and the professionals involved in a child’s care and development.”

The theme of this year’s Foster Care Fortnight is ‘the power of relationships‘. This highlights the vital connections at the heart of fostering.

Strong, trusting relationships are the golden thread that runs through every fostering story. Whether it’s the bond between a foster carer and a child, the support of social workers, the friendships built within fostering communities, or the connections with birth families, these relationships shape lives, create stability, and open up new possibilities for the future.

The bonds formed with foster carers help children and young people grow and thrive. Foster carers play a crucial role in providing safe, stable, and nurturing homes for children and young people – many of whom have faced difficult or traumatic experiences.

At the centre of many of these relationships within Foster Portsmouth is their Mockingbird programme, a unique approach to supporting foster families. This sees up to 10 households create their own support networks, through a dedicated foster carer at a hub home. This approach has led to stronger, more resilient foster families, who are not just supported by professionals, but their own communities.

Rachel Day, a foster carer in Portsmouth has directly benefited from this model. She said:

“Mockingbird has created a community that feels like a family. Carers can build positive relationships and friendships with each other. Children and young people are given a sense of belonging where they are not the only child in our care.”

“This support encourages carers to socialise with their families, to get outdoors and experience fun times together, creating positive memories that children and young people will remember.”

However, more foster carers are urgently required in and around Portsmouth. 6,000 more are currently needed across the UK, with 820 of these needed in the South East. This shortage leaves too many children without the local homes they need to stay close to family, friends, school and clubs.

There is a particular need for foster carers to look after teenagers and sibling groups. Fostering services are working hard to find and recruit the foster carers they need locally to look after these children.

Portsmouth City Council is also spotlighting the team that supports foster families during Foster Care Fortnight. Social care practitioners work with groups of foster families within their community, alongside a lead carer. This distinctive approach aims to strengthen relationships and improve outcomes for children and young people in care.

Stronger Futures, the children’s social care recruitment campaign, is celebrating Mockingbird liaison workers as they share their experiences from working in the community and the advantages of the Mockingbird model.

Councillor Dorrington continued:

“As we celebrate the remarkable work of our Mockingbird liaison workers, we’re highlighting the exceptional support they provide to foster families. Their commitment and the innovative approach of the Mockingbird model focus on building stronger relationships. Portsmouth City Council is proud to recognise these outstanding individuals during this fortnight, alongside our wonderful foster families and carers.”

Anyone aged 21+ with a spare bedroom could foster with Foster Portsmouth regardless of their age, gender, faith, ethnicity, sexuality, marital or work status, or whether they rent or own their own home.

Fostering could be a short or long term arrangement until they’re ready to live independently or be reunited with family, support for children seeking safety and asylum or children with a disability, supported lodgings to develop their independent living skills, a parent and baby placement, or respite care.

Carers receive local round the clock support and ongoing quality training such as therapeutic care, including through our mentoring scheme and our innovative award-winning Mockingbird programme.. They also receive a competitive financial package, social activities, and free membership to The Fostering Network.

People can drop-in to the event on Saturday 24 May at the Holiday Inn, Farlington anytime between 10am and 1pm.

To enquire now about fostering with Foster Portsmouth, people can fill in their contact form at www.foster.portsmouth.gov.uk/enquire-now, they can call 0300 1312797 or they can email info@lafosteringse.org.uk.

For more information on Stronger Futures and careers in fostering, please visit www.strongerfutures.co.uk/fostering.

MIL OSI United Kingdom –

May 21, 2025
MIL-OSI: Jeito Capital Leads a USD 65 million Financing in ReproNovo to Develop Transformational Treatments in Reproductive Medicine and Women’s Health
Source: GlobeNewswire (MIL-OSI)

Jeito Capital Leads a USD 65 million Financing in ReproNovo to Develop Transformational Treatments in Reproductive Medicine and Women’s Health
- Proceeds from the financing will advance ReproNovo’s lead candidates RPN-001 (leflutrozole) and RPN-002 (nolasiban), through Phase 2 clinical trials in male infertility and in the treatment of adenomyosis and embryo implantation, respectively
- In the context of increasing infertility across the world, this investment reflects Jeito’s interest in highly promising clinical-stage biopharma companies developing breakthrough innovations with strong value-creation potential for patients and society
Paris, France, May 21, 2025 – Jeito Capital (“Jeito”), a global leading independent Private Equity fund dedicated to biopharma, announced today it is leading a USD 65 million (EUR 57 million¹) Series A financing round in ReproNovo, a company dedicated to developing innovative treatments for reproductive medicine and women’s health.

AXA IM Alts and M Ventures co-led the financing round alongside a syndicate of healthcare funds: Ysios Capital and ALSA Ventures.

Ksenija Pavletic, Jeito Partner and Chief Commercial Officer with 25 years of experience in reproductive medicine and women’s health, will join ReproNovo’s Board of Directors.

Founded in 2021, ReproNovo is developing novel approaches to address critical gaps in reproductive medicine and women’s health, including male and female infertility as well as uterine health. The company, led by a team of experts in this space – Jean Marie Duvall, Chief Executive Officer, Joan-Carles Arce, MD, PhD, Chief Scientific Officer and Medical Officer, and BingMei Hao, Chief Financial Officer – brings a proven track record in successful clinical development and commercial launches.

Since its inception, ReproNovo has rapidly built a pipeline comprising two Phase 2 clinical-stage assets across three disease areas, and the company plans to use the proceeds from this financing to advance this pipeline across multiple programs:
- With its lead candidate, RPN-001 (leflutrozole), the company will focus on the development of an oral therapy for male infertility due to low testosterone levels. Low testosterone is becoming more prevalent, including in younger men, highlighting the urgent need for an efficacious treatment option. This trend coincides with a broader decline in male reproductive health, now recognized as a major public health problem².
- RPN-002 (nolasiban), also orally administered therapy, is a first-in-class compound to manage adenomyosis, an overgrowth of endometrial tissue into the uterus that can result in severe menstrual bleeding and pain. Similar to endometriosis, this is a common gynecological condition, with recent imaging studies identifying features of adenomyosis in nearly one in four women undergoing gynecological evaluation³.
RPN-002 will also be explored for improving success rates in assisted reproductive technologies (ART).

The global decline in fertility rates, coupled with the rising incidence of male infertility (sperm counts have fallen by 50% to 60% over the last four decades⁴) and the significant health risks women endure during fertility treatments underscore the urgent and underserved need for innovative reproductive solutions that address both genders and these global challenges comprehensively.

Through this investment, Jeito reaffirms its commitment to highly promising companies with transformational science that has the potential to deliver strong value for patients and society. By tackling male infertility and women’s health at a global scale, ReproNovo is addressing not only a significant patients’ concern but also a major societal issue.

Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, said:
“ReproNovo combines strong innovative potential, a seasoned team, and a clear ambition to address one of the most pressing global challenges of our time: declining birth rates. At Jeito, we are committed to advancing breakthrough innovations with significant value for both patients and society. This investment reflects that commitment. We are proud to support the acceleration of ReproNovo’s clinical development and help unlock its potential to become a future market leader.”

Ksenija Pavletic, Partner and Chief Commercial Officer at Jeito Capital, added:
“As approximately one in six people worldwide will face infertility issues, we are proud to support ReproNovo, whose commitment to advancing novel therapies in reproductive health aligns well with our focus on accelerating cutting-edge technologies and the commercialization of treatments with transformative benefits for patients. We are highly impressed by the ReproNovo team, whose members have a strong track record in this field, having brought a number of compounds successfully through clinical development and onto the market. Their deep understanding of the field will enable them to effectively address critical unmet needs that have a strong impact on society.”

Jean Marie Duvall, Co-founder and CEO of ReproNovo, concluded:
“We are focused on innovative therapeutic solutions for male and female infertility and pioneering management options for conditions like adenomyosis. Our aim is to address critical gaps in the landscape of infertility and women’s health worldwide. We are thrilled to announce the successful closing of our $65 million Series A funding round with this strong, sector specialized group of investors, marking a significant milestone in our journey to becoming a leading reproductive medicine and women’s health company.”

About Jeito Capital
Jeito Capital is a global leading Private Equity fund with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito has built a diversified portfolio of clinical biopharmas with cutting-edge innovations addressing high unmet needs. Jeito Capital is based in Paris with a presence in Europe and the United States.
For more information, please visit www.jeito.life or follow us on LinkedIn.

About ReproNovo

ReproNovo is a cutting-edge biopharmaceutical company identifying and developing innovative solutions to address critical gaps in reproductive medicine and women’s health. Our team is composed of proven experts with deep experience in reproductive medicine, drug development, regulatory affairs and business development who have throughout their careers successfully brought multiple therapies to market. Lead clinical compound, RPN-001 (leflutrozole), is initially being developed to treat male infertility. RPN-002 (nolasiban) is a first-in-disease and first-in-class molecular entity to manage adenomyosis and increase the probability of embryo implantation in women undergoing assisted reproductive technology (ART) treatments. Both assets are Phase 2 ready. ReproNovo is financed by Jeito Capital, AXA IM Alts, founding investor M Ventures, Ysios Capital and ALSA Ventures. Headquartered in Lausanne, Switzerland, the company has its primary development team in Copenhagen, Denmark, and an additional development site in Barcelona, Spain. For more information, visit the Company’s website at www.repronovo.com.

Contacts:

Jeito Capital
Rafaèle Tordjman, Founder & CEO
Jessica Fadel, EA
Tel: +33 6 33 44 25 47

Maior                                                ICR Healthcare
Stéphanie Elbaz                                Mary-Jane Elliott / Davide Salvi / Kris Lam
Tel: +33 6 46 05 08 07                        Jeito@icrhealthcare.com
Tel: +44 (0) 20 3709 5700

                                                Sean Leous
                                                sean.leous@icrhealthcare.com
Tel: +1 (646) 866 4012

¹EUR/USD exchange rate: 1 EUR = 1.1343 USD date May 5, 2025 (source: Banque de France)
²Temporal trends in sperm count: a systematic review and meta-regression analysis of samples collected globally in the 20th and 21st centuries. Human Reproduction Update. 2022; https://doi.org/10.1093/humupd/dmac035
³Alson S, et al. Prevalence of adenomyosis features in women scheduled for assisted reproductive treatment, using the Morphological Uterus Sonographic Assessment (MUSA) group definitions. Acta Obstet Gynecol Scand. 2024;103:1142–1152.
⁴ Fortune “The global ‘spermpocalypse’ proves infertility is no longer just a women’s problem, says male fertility CEO” (May 2024)
The MIL Network –
May 21, 2025

MIL-OSI: Wix Reports First Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

Strong start to year with Q1’25 total bookings of $511 million, up 12% y/y, with very robust top of funnel demand in the quarter and new cohort strength continuing through April and early May
Q1’25 total revenue of $474 million exceeded expectations, up 13% y/y, driven by accelerating Self Creators growth accompanied by solid Partners momentum as Studio adoption continued to ramp healthily
Launched Wixel, a new standalone AI-powered visual design platform that brings the most advanced creative tools into a single intuitive interface and puts complete visual editing control into the hands of everyone – marking Wix’s milestone foray into creation beyond websites
Achieved FCF margin of 30% in Q1’25 as we continued to maintain a resilient operating cost structure amidst robust top-line performance
Increased share repurchase board authorization to a total of $400 million under current program

NEW YORK — Wix.com Ltd. (Nasdaq: WIX) (the “Company”), the leading SaaS website builder platform¹, today reported financial results for the first quarter of 2025. In addition, the Company provided its outlook for the second quarter and an updated outlook for full year 2025. Please visit the Wix Investor Relations website at https://investors.wix.com to view the Q1’25 Shareholder Update and other materials.

“This year we are setting out to reimagine and expand the online creation experience and have set the bar high with the milestone release of Wixel, which I believe will democratize digital creation,” said Avishai Abrahami, Wix Co-founder and CEO. “We have been transforming web development since 2006 and are now organically extending our user-first design expertise, AI leadership and focus on accessibility to beyond websites. What you see today is the first version of our standalone next-gen visual design platform, representing the culmination of years of development in advanced design and AI and unifying the best models, intuitive UI, and powerful high-end features into one cohesive platform. Importantly, with Wixel, anyone, regardless of skill level, can now create beautiful visuals with just a few clicks. We have an ambitious roadmap for Wixel ahead and I’m excited to see how Wixel starts to reshape the design world.”

Lior Shemesh, CFO at Wix, added, “Our strong first quarter results demonstrate the critical value of the Wix platform to anyone and everyone requiring an online presence globally amid an ever evolving macro environment, particularly SMBs. Top of funnel demand was very strong with Q1’25 new user cohort bookings finishing 12% higher than the bookings generated by the Q1’24 cohort in its first quarter. This acceleration in new cohort growth was almost entirely driven by better fundamentals, particularly an increased number of users, as well as product innovation. Encouragingly, these strong cohort trends have continued through April and early May, bolstering confidence in 2H bookings and revenue growth acceleration as additional cohorts layer on through the year. As a result of this new cohort strength and healthy existing user behavior, bookings grew a solid 12% y/y and revenue growth of 13% y/y finished above expectations in Q1. Durability was broad based across our segments with our Partners business delivering 24% y/y revenue growth, fueled by ongoing market share gains driven by Studio, as well as another consecutive quarter of Self Creators growth acceleration as AI continued to remove friction for more users in the website creation journey.”

Q1 2025 Financial Results

Total revenue in the first quarter of 2025 was $473.7 million, up 13% y/y
Creative Subscriptions revenue in the first quarter of 2025 was $337.7 million, up 11% y/y
- Creative Subscriptions ARR increased to $1.373 billion as of the end of the quarter, up 10% y/y
Business Solutions revenue in the first quarter of 2025 was $136.0 million, up 18% y/y
- Transaction revenue² was $58.9 million, up 19% y/y
Partners revenue³ in the first quarter of 2025 was $171.6 million, up 24% y/y
Total bookings in the first quarter of 2025 were $510.9 million, up 12% y/y
- Creative Subscriptions bookings in the first quarter of 2025 were $369.5 million, up 10% y/y
- Business Solutions bookings in the first quarter of 2025 were $141.4 million, up 15% y/y
Total gross margin on a GAAP basis in the first quarter of 2025 was 68%
- Creative Subscriptions gross margin on a GAAP basis was 83%
- Business Solutions gross margin on a GAAP basis was 30%
Total non-GAAP gross margin in the first quarter of 2025 was 69%
- Creative Subscriptions gross margin on a non-GAAP basis was 84%
- Business Solutions gross margin on a non-GAAP basis was 31%
GAAP net income in the first quarter of 2025 was $33.8 million, or $0.61 per basic share and $0.57 per diluted share
Non-GAAP net income in the first quarter of 2025 was $93.9 million, or $1.69 per basic share and $1.55 per diluted share
Net cash provided by operating activities for the first quarter of 2025 was $145.5 million, while capital expenditures totaled $3.1 million, leading to free cash flow of $142.4 million
In January, we completed $200 million of share repurchases, repurchasing 868,026 Wix ordinary shares in total at an approximate volume-weighted average price per share of $230.41
Total employee count at the end of Q1’25 was 5,275

Increase to Share Repurchase Program

Wix’s Board of Directors has authorized an increase to its program to repurchase the Company’s securities (ordinary shares and/or convertible notes) by an additional amount of up to $200 million, on top of the $200 million previously approved by the Board on February 26th, 2025 (which has not been used to date). This approval brings the repurchase authorization under the program to a total amount of up to $400 million.

____________________
^{1 Based on number of active live sites as reported by competitors’ figures, independent third-party data and internal data as of Q3 2024.}
^{2 Transaction revenue is a portion of Business Solutions revenue, and we define transaction revenue as all revenue generated through transaction facilitation, primarily from Wix Payments, as well as Wix POS, shipping solutions and multi-channel commerce and gift card solutions.}
^{3 Partners revenue is defined as revenue generated through agencies and freelancers that build sites or applications for other users (“Agencies”) as well as revenue generated through B2B partnerships, such as LegalZoom or Vistaprint (“Resellers”). We identify Agencies using multiple criteria, including but not limited to, the number of sites built, participation in the Wix Partner Program and/or the Wix Marketplace or Wix products used (incl. Wix Studio). Partners revenue includes revenue from both the Creative Subscriptions and Business Solutions businesses.}

Financial Outlook

Healthy first quarter results demonstrate impactful product innovation and disciplined execution of our key growth initiatives, including Studio, AI and our focus empowering Self Creators. Notably, new cohort strength remains robust through April and early May against a dynamic macro backdrop. We expect new cohort strength to continue and drive top-line growth acceleration in 2H as additional cohorts layer on throughout the year.

While we are encouraged by our strong Q1 results and robust top of funnel, we are maintaining full year bookings outlook of $2,025 – 2,060 million, up 11-13% y/y. This reflects conservatism due to macro uncertainty, specifically in our Business Solutions segment, with potential volatility offset by fully dissipating FX headwinds.

With these same considerations, we are also maintaining our full year revenue outlook of $1,970 – 2,000 million, up 12-14% y/y.

We expect total revenue in Q2 2025 to be $485 – 489 million, up 11-12% y/y.

For the full year 2025, we continue to expect non-GAAP total gross margin of ~70% and non-GAAP operating expenses to be 47-48% of revenue for the full year.

We continue to expect to generate free cash flow of $590 – 610 million, or ~30-31% of revenue.

As a result, we remain on track to achieve Rule of 45 in 2025 at the high end of our outlook.

Conference Call and Webcast Information

Wix will host a conference call to discuss the results at 8:30 a.m. ET on Wednesday, May 21st, 2025. A live and archived webcast of the conference call will be accessible from the “Investor Relations” section of the Company’s website at https://investors.wix.com/.

About Wix.com Ltd.

Wix is the leading SaaS website builder platform¹ to create, manage and grow a digital presence. Founded in 2006, Wix is a comprehensive platform providing users – self-creators, agencies, enterprises, and more – with industry-leading performance, security, AI capabilities and a reliable infrastructure. Offering a wide range of commerce and business solutions, advanced SEO and marketing tools, the platform enables users to take full ownership of their brand, their data and their relationships with their customers. With a focus on continuous innovation and delivery of new features and products, users can seamlessly build a powerful and high-end digital presence for themselves or their clients.

For more about Wix, please visit our Press Room
Media Relations Contact: PR@wix.com

Share Repurchase Program

Under the Board authorized repurchase program, Company securities may be repurchased from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise, all in accordance with U.S. securities laws and regulations, including Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company may also, from time to time, enter into plans that are compliant with Rule 10b5-1 of the Exchange Act to facilitate repurchases of its securities under this Board authorization. The repurchase program does not obligate the Company to acquire any particular amount of securities, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. Repurchases under the repurchase program may begin after conclusion of the 30-day period for creditors of the Company to object to the Company’s intent to perform the distribution by way of repurchase in accordance with the Israeli Companies Regulations (Relief for Public Companies Whose Securities are Traded on Stock Exchanges Outside of Israel), 5760-2000 and the Israeli Regulations (Approval of Distribution), 5761–2001. The actual timing, number and value of securities repurchased depend on a number of factors, including the market price of the Company’s ordinary shares, general market and economic conditions, any objections received by the Company from its creditors, the Company’s financial results and liquidity, and other considerations. The Company expects to fund repurchases with cash on hand and future cash generated from its operations.

Non-GAAP Financial Measures and Key Operating Metrics

To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. GAAP, Wix uses the following non-GAAP financial measures: bookings, cumulative cohort bookings, bookings on a constant currency basis, revenue on a constant currency basis, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, free cash flow, free cash flow on a constant currency basis, free cash flow, as adjusted, free cash flow margins, non-GAAP R&D expenses, non-GAAP S&M expenses, non-GAAP G&A expenses, non-GAAP operating expenses, non-GAAP cost of revenue expense, non-GAAP financial expense, non-GAAP tax expense (collectively the “Non-GAAP financial measures”). Measures presented on a constant currency or foreign exchange neutral basis have been adjusted to exclude the effect of y/y changes in foreign currency exchange rate fluctuations. Bookings is a non-GAAP financial measure calculated by adding the change in deferred revenues and the change in unbilled contractual obligations for a particular period to revenues for the same period. Bookings include cash receipts for premium subscriptions purchased by users as well as cash we collect from business solutions, as well as payments due to us under the terms of contractual agreements for which we may have not yet received payment. Cash receipts for premium subscriptions are deferred and recognized as revenues over the terms of the subscriptions. Cash receipts for payments and the majority of the additional products and services (other than Google Workspace) are recognized as revenues upon receipt. Committed payments are recognized as revenue as we fulfill our obligation under the terms of the contractual agreement. Bookings and Creative Subscriptions Bookings are also presented on a further non-GAAP basis by excluding, in each case, bookings associated with long term B2B partnership agreements. Non-GAAP gross margin represents gross profit calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization, divided by revenue. Non-GAAP operating income (loss) represents operating income (loss) calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, amortization, acquisition-related expenses and sales tax expense accrual and other G&A expenses (income). Non-GAAP net income (loss) represents net loss calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, amortization, sales tax expense accrual and other G&A expenses (income), amortization of debt discount and debt issuance costs and acquisition-related expenses and non-operating foreign exchange expenses (income). Non-GAAP net income (loss) per share represents non-GAAP net income (loss) divided by the weighted average number of shares used in computing GAAP loss per share. Free cash flow represents net cash provided by (used in) operating activities less capital expenditures. Free cash flow, as adjusted, represents free cash flow further adjusted to exclude one-time cash restructuring charges and the capital expenditures and other expenses associated with the buildout of our new corporate headquarters. Free cash flow margins represent free cash flow divided by revenue. Non-GAAP cost of revenue represents cost of revenue calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP R&D expenses represent R&D expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP S&M expenses represent S&M expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP G&A expenses represent G&A expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP operating expenses represent operating expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP financial expense represents financial expense calculated in accordance with GAAP as adjusted for unrealized gains of equity investments, amortization of debt discount and debt issuance costs and non-operating foreign exchange expenses. Non-GAAP tax expense represents tax expense calculated in accordance with GAAP as adjusted for provisions for income tax effects related to non-GAAP adjustments.

The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. The Company believes that these measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making.

For more information on the non-GAAP financial measures, please see the reconciliation tables provided below. The accompanying tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures. The Company is unable to provide reconciliations of free cash flow, free cash flow margin, free cash flow, as adjusted, bookings, cumulative cohort bookings, non-GAAP gross margin, non-GAAP operating expenses, and non-GAAP tax expense to their most directly comparable GAAP financial measures on a forward-looking basis without unreasonable effort because items that impact those GAAP financial measures are out of the Company’s control and/or cannot be reasonably predicted. Such information may have a significant, and potentially unpredictable, impact on our future financial results.

Wix also uses Creative Subscriptions Annualized Recurring Revenue (ARR) as a key operating metric. Creative Subscriptions ARR is calculated as Creative Subscriptions Monthly Recurring Revenue (MRR) multiplied by 12. Creative Subscriptions MRR is calculated as the total of (i) the total monthly revenue of all Creative Subscriptions in effect on the last day of the period, other than domain registrations; (ii) the average revenue per month from domain registrations multiplied by all registered domains in effect on the last day of the period; and (iii) monthly revenue from other partnership agreements including enterprise partners.

Forward-Looking Statements

This document contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such forward-looking statements may include projections regarding our future performance, including, but not limited to revenue, bookings and free cash flow, and may be identified by words like “anticipate,” “assume,” “believe,” “aim,” “forecast,” “indication,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “subject”, “project,” “outlook,” “future,” “will,” “seek” and similar terms or phrases. The forward-looking statements contained in this document, including the quarterly and annual guidance, are based on management’s current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others, our ability to attract and retain registered users and partners, and generate new premium subscriptions and additional business solutions as we continuously adjust our marketing strategy and customer care; maintenance of our brand and reputation, and generation of revenue from sources other than premium subscriptions; risks associated with international operations and the use of platform in various countries; risks related to the macroeconomic environment and ongoing global conflicts; security risks and payment risks and fluctuations in foreign currency exchange rates; failures of third-party hardware, software and infrastructure on which we rely, or failure to manage the operation of our infrastructure; adverse market conditions, including inflation, interest rates and other adverse developments that may adversely affect our cash balances and investment portfolio; our history of operating losses and inability to achieve sustained profitability; downturns or upturns in sales are not immediately reflected in full in our operating results; our ability to repurchase our ordinary shares and/or 0.00% Convertible Senior Notes due 2025 pursuant to our repurchase program; our ability to raise capital when needed or on acceptable terms; risks related to acquisitions and investments, pricing decisions, pandemics, natural disasters and other catastrophic events; our ability to develop and introduce new products and services, as well as maintain third-party products and are ability to keep up with rapid changes in design and technology; our ability to attract and retain qualified employees and key personnel; our ability to attract a diversified customer base and increased competition; our ability to maintain compatibility of our platform and solutions with changes in third-party applications and changes to technologies used in our solutions; our ability to acquire and service small business users; risks related to security breaches and unauthorized access to data, cyberattacks; our expectation regarding the uncertain future relationship between the United States and other countries with respect to trade policies, taxes, government regulations, and tariffs; our ability to comply with the regulations applicable to our operations, including new governmental regulations regarding the internet, consumer protection, artificial intelligence (“AI”), privacy and data protection laws and regulations, as well as contractual privacy and data protection obligations; risks relating to intellectual property, including infringements, litigation and claims, and our ability to maintain and protect our intellectual property rights and proprietary information; our expectations regarding the outcome of any regulatory investigation or litigation, including class actions; risks related to the development and integration of AI, generative AI, agentic AI, machine learning, and similar tools into our offerings, and comply with the regulatory environment impacting AI and AI-related activities; risks related to activities of registered users or content of their websites, and risks related to domain names and industry regulations; risks related to compliance with laws and regulations, including those related to economic sanctions, tariffs, export controls, anti-corruption and anti-money laundering, anti-trust, and consumer protection, and changes in these laws and regulations; risks related to tax, including application of indirect taxes, tax laws, changes in tax laws or changes in provision for income tax and examination of income tax returns; risks related to ordinary shares, activist shareholders, and our status as a foreign private issuer; risks related to our incorporation and location in Israel, including conflicts in the area; our expectations regarding future changes in our cost of revenues and our operating expenses on an absolute basis and as a percentage of our revenues; our planned level of capital expenditures and our belief that our existing cash and cash from operations will be sufficient to fund our operations for at least the next 12 months and for the foreseeable future; and our ability to enter into new markets and attracting new customer demographics, including our ability to successfully attract new partners and large enterprise-level users and to grow our activities, including through the adoption of our Wix Studio product, with these customer types as anticipated and other factors discussed under the heading “Risk Factors” in the Company’s annual report on Form 20-F for the year ended December 31, 2024 filed with the Securities and Exchange Commission on March 21, 2025. The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. Any forward-looking statement made by us in this press release speaks only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.


Wix.com Ltd.
CONSOLIDATED STATEMENTS OF OPERATIONS – GAAP
(In thousands, except loss per share data)

	Three Months Ended
	March 31,
		2025		2024
	(unaudited)
Revenues
Creative Subscriptions	$	337,676	$	304,293
Business Solutions		135,975		115,483
		473,651		419,776

Cost of Revenues
Creative Subscriptions		56,067		54,803
Business Solutions		95,725		82,494
		151,792		137,297

Gross Profit		321,859		282,479

Operating expenses:
Research and development		127,497		124,245
Selling and marketing		111,563		107,234
General and administrative		45,394		41,330
Total operating expenses		284,454		272,809
Operating income		37,405		9,670
Financial income, net		5,832		18,884
Other income, net		64		211

Income before taxes on income		43,301		28,765
Income tax expenses		9,535		4,763
Net income	$	33,766	$	24,002

Basic net income per share	$	0.61	$	0.43

Basic weighted-average shares used to compute net income per share		55,708,670		56,098,997

Diluted net income per share	$	0.57	$	0.41

Diluted weighted-average shares used to compute net income per share		60,384,510		58,647,238

Wix.com Ltd.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

	Period ended
	March 31,			December 31,
		2025			2024
Assets	(unaudited)			(audited)
Current Assets:
Cash and cash equivalents	$	653,276		$	660,939
Short-term deposits		112,078			106,844
Restricted deposits		793			773
Marketable securities		304,555			338,593
Trade receivables		47,328			44,674
Prepaid expenses and other current assets		59,132			128,577
Total current assets		1,177,162			1,280,400

Long-Term Assets:
Prepaid expenses and other long-term assets		31,343			27,021
Property and equipment, net		125,450			128,155
Marketable securities		6,183			6,135
Intangible assets, net		20,680			22,141
Goodwill		49,329			49,329
Operating lease right-of-use assets		395,513			399,861
Total long-term assets		628,498			632,642

Total assets	$	1,805,660		$	1,913,042

Liabilities and Shareholders’ Deficiency
Current Liabilities:
Trade payables	$	38,032		$	47,077
Employees and payroll accruals		78,983			143,131
Deferred revenues		698,343			661,171
Current portion of convertible notes, net		573,674			572,880
Accrued expenses and other current liabilities		79,546			63,246
Operating lease liabilities		29,369			27,907
Total current liabilities		1,497,947			1,515,412
Long Term Liabilities:
Deferred revenues		96,461			89,271
Deferred tax liability		1,066			1,965
Other long-term liabilities		19,414			16,021
Operating lease liabilities		359,389			369,159
Total long-term liabilities		476,330			476,416

Total liabilities		1,974,277			1,991,828

Shareholders’ Deficiency
Ordinary shares		107			107
Additional paid-in capital		1,923,576			1,840,574
Treasury shares		(1,225,165	)		(1,025,167	)
Accumulated other comprehensive loss		641			7,242
Accumulated deficit		(867,776	)		(901,542	)
Total shareholders’ deficiency		(168,617	)		(78,786	)

Total liabilities and shareholders’ deficiency	$	1,805,660		$	1,913,042

Wix.com Ltd.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
OPERATING ACTIVITIES:
Net income	$	33,766		$	24,002
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation		6,137			6,442
Amortization		1,461			1,483
Share based compensation expenses		60,261			58,142

Amortization of debt discount and debt issuance costs		794			790
Changes in accrued interest and exchange rate on short term and long term deposits		(224	)		880
Amortization of premium and discount and accrued interest on marketable securities, net		3,557			597

Remeasurement loss (gain) on Marketable equity		–			(3,367	)
Changes in deferred income taxes, net		1			(5,011	)
Changes in operating lease right-of-use assets		4,803			5,024
Changes in operating lease liabilities		(8,763	)		(3,652	)
Loss (gain) on foreign exchange, net		(2,006	)		553
Decrease (increase) in trade receivables		(2,654	)		1,119
Decrease (increase) in prepaid expenses and other current and long-term assets		58,289			(12,568	)
Decrease in trade payables		(9,338	)		(2,123	)

Decrease in employees and payroll accruals		(64,148	)		(2,429	)

Increase in short term and long term deferred revenues		44,362			41,319

Increase in accrued expenses and other current liabilities		19,193			2,635

Net cash provided by operating activities	$	145,491			113,836
INVESTING ACTIVITIES:

Proceeds from short-term deposits and restricted deposits		107,780			823

Investment in short-term deposits and restricted deposits		(112,810	)		(30,162	)
Investment in marketable securities		(27,693	)		(27,847	)
Proceeds from marketable securities		58,292			52,805

Purchase of property and equipment and lease prepayment		(2,629	)		(7,715	)
Capitalization of internal use of software		(421	)		(410	)
Proceeds from sale of equity securities		–			22,148
Proceed from realization of investments in privately held companies		417			–

Purchases of investments in privately held companies		(750	)		(550	)

Net cash provided by investing activities	$	22,186			9,092
FINANCING ACTIVITIES:

Proceeds from exercise of options and ESPP shares		22,654			22,628
Purchase of treasury stock		(200,000	)		(241,302	)

Net cash used in financing activities	$	(177,346	)		(218,674	)
Effect of exchange rates on cash, cash equivalent and restricted cash		2,006			(553	)

DECREASE IN CASH AND CASH EQUIVALENTS		(7,663	)		(96,299	)

CASH AND CASH EQUIVALENTS—Beginning of period		660,939			609,622
CASH AND CASH EQUIVALENTS—End of period	$	653,276		$	513,323

Wix.com Ltd.
KEY PERFORMANCE METRICS
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Creative Subscriptions		337,676			304,293
Business Solutions		135,975			115,483
Total Revenues	$	473,651		$	419,776

Creative Subscriptions		369,469			334,637
Business Solutions		141,436			122,644
Total Bookings	$	510,905		$	457,281

Free Cash Flow	$	142,441		$	105,711

Free Cash Flow excluding HQ build out	$	142,441		$	111,073
Creative Subscriptions ARR		1,372,670		$	1,244,264



Wix.com Ltd.
RECONCILIATION OF REVENUES TO BOOKINGS
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Revenues	$	473,651		$	419,776
Change in deferred revenues		44,362			41,319
Change in unbilled contractual obligations		(7,108	)		(3,814	)
Bookings	$	510,905		$	457,281

Y/Y growth		12	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Creative Subscriptions Revenues	$	337,676		$	304,293
Change in deferred revenues		38,901			34,158
Change in unbilled contractual obligations		(7,108	)		(3,814	)
Creative Subscriptions Bookings	$	369,469		$	334,637

Y/Y growth		10	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Business Solutions Revenues	$	135,975		$	115,483
Change in deferred revenues		5,461			7,161
Business Solutions Bookings	$	141,436		$	122,644

Y/Y growth		15	%



Wix.com Ltd.
RECONCILIATION OF COHORT BOOKINGS
(In millions)
	Three Months Ended
	March 31,
		2025			2024

Q1 Cohort revenues		9		$	9
Q1 Change in deferred revenues		27			23
Q1 Cohort Bookings	$	36		$	32



Wix.com Ltd.
RECONCILIATION OF REVENUES AND BOOKINGS EXCLUDING FX IMPACT
(In thousands)
	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Revenues	$	473,651		$	419,776
FX impact on Q1/25 using Y/Y rates		4,225			–
Revenues excluding FX impact	$	477,876		$	419,776
Y/Y growth		14	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Bookings	$	510,905		$	457,281
FX impact on Q1/25 using Y/Y rates		7,775			–
Bookings excluding FX impact	$	518,680		$	457,281
Y/Y growth		13	%



Wix.com Ltd.
TOTAL ADJUSTMENTS GAAP TO NON-GAAP
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
(1) Share based compensation expenses:	(unaudited)
Cost of revenues	$	3,320		$	3,590
Research and development		31,491			31,102
Selling and marketing		9,177			10,483
General and administrative		16,273			12,967
Total share based compensation expenses		60,261			58,142
(2) Amortization		1,472			1,483
(3) Acquisition related expenses		–			5
(4) Amortization of debt discount and debt issuance costs		794			790
(5) Sales tax accrual and other G&A expenses		699			121
(6) Unrealized loss (gain) on equity and other investments		(42	)		(3,367	)
(7) Non-operating foreign exchange income		(3,079	)		(4,663	)
(8) Provision for income tax effects related to non-GAAP adjustments		–			774
Total adjustments of GAAP to Non GAAP	$	60,105		$	53,285



Wix.com Ltd.
RECONCILIATION OF GAAP TO NON-GAAP GROSS PROFIT
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Gross Profit	$	321,859		$	282,479
Share based compensation expenses		3,320			3,590
Amortization		667			667
Non GAAP Gross Profit		325,846			286,736

Non GAAP Gross margin		69	%		68	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Gross Profit – Creative Subscriptions	$	281,609		$	249,490
Share based compensation expenses		2,367			2,669
Non GAAP Gross Profit – Creative Subscriptions		283,976			252,159

Non GAAP Gross margin – Creative Subscriptions		84	%		83	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Gross Profit – Business Solutions	$	40,250		$	32,989
Share based compensation expenses		953			921
Amortization		667			667
Non GAAP Gross Profit – Business Solutions		41,870			34,577

Non GAAP Gross margin – Business Solutions		31	%		30	%



Wix.com Ltd.
RECONCILIATION OF OPERATING INCOME TO NON-GAAP OPERATING INCOME
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Operating income	$	37,405		$	9,670
Adjustments:
Share based compensation expenses		60,261			58,142
Amortization		1,472			1,483
Sales tax accrual and other G&A expenses		699			121
Acquisition related expenses		–			5
Total adjustments	$	62,432		$	59,751

Non GAAP operating income	$	99,837		$	69,421

Non GAAP operating margin		21	%		17	%



Wix.com Ltd.
RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME AND NON-GAAP NET INCOME PER SHARE
(In thousands, except per share data)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Net income	$	33,766		$	24,002
Share based compensation expenses and other Non GAAP adjustments		60,105			53,285
Non-GAAP net income	$	93,871		$	77,287


Basic Non GAAP net income per share	$	1.69		$	1.38

Weighted average shares used in computing basic Non GAAP net income per share		55,708,670			56,098,997

Diluted Non GAAP net income per share	$	1.55		$	1.29

Weighted average shares used in computing diluted Non GAAP net income per share		60,384,510			60,073,986



Wix.com Ltd.
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Net cash provided by operating activities	$	145,491		$	113,836
Capital expenditures, net		(3,050	)		(8,125	)
Free Cash Flow	$	142,441		$	105,711


Capex related to HQ build out		–			5,362

Free Cash Flow excluding HQ build out	$	142,441		$	111,073

The MIL Network –

May 21, 2025

MIL-OSI: WISeKey Launches WISe.ART 3.0, One of the World’s First and Largest Web3 Marketplaces for Digital Art, Twins, NFTs, and Crypto Collectibles

Source: GlobeNewswire (MIL-OSI)

WISeKey Launches WISe.ART 3.0, One of the World’s First and Largest Web3 Marketplaces for Digital Art, Twins, NFTs, and Crypto Collectibles

Geneva, Switzerland — May 21, 2025 — WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, in partnership with its subsidiary, SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, today announces the launch of new enhanced WISe.ART marketplace, a revolutionary Web3 platform for digital art, digital twins, NFTs, and crypto collectibles. This next-generation marketplace is one of the first and largest of its kind.

The WISe.ART 3.0 platform redefines the digital art experience by providing creators and collectors with a secure, traceable, and intelligent environment for trading and authenticating digital assets.

Key Features of WISe.ART 3.0:

Native Web3 support: Users can securely and easily connect their Metamask or Walletconnect wallet to the platform. NFTs can be imported and exported to the marketplace to allow complete control of their digital collection.
Refreshed platform & Multi-Device support: The WISe.Art platform has received a complete overhaul of its front-end and back-end structure, allowing users to carry their digital collection with them at all times, as the new platform supports desktop, tablets and mobile devices.
Link Between Physical and Digital Assets: WISe.ART NFTs are irreversibly connected to their corresponding physical objects, ensuring tamper-proof authenticity and provenance.
Smart Contracts for Monetization: Artists and creators can set automated royalty structures, usage rights, and monetization strategies through embedded smart contracts.
Advanced Cybersecurity & Post-Quantum Resilience: Secured by WISeKey’s and SEALSQ’s digital identity and encryption technologies, the platform safeguards all transactions and digital interactions against present and future cyber threats.
Easy purchase with Crossmint support: The Crossmint integration allows for seamless transactions with credit and debit cards, Apple and Google Pay, from anywhere in the world. Users that do not possess a wallet can create a ghost wallet on-the-fly upon checking out.

For Version 3 we have listened to our users and have added important new functionalities which they requested:

Collectors and artists can now import pre-minted NFTs from other platforms as long as they are minted in the crypto we support (such as Hedera, Polygon or Eth) and that the pre-minted NFTs are compatible with our requirements. Those wishing to consolidate their NFT collections into one wallet – it can now be done on WISe.ART. Additionally, artists wishing to leave a certain platform can now join WISe.ART and showcase their complete collections on one platform safely and efficiently.
Relisting tokens on the secondary market is still possible but for those who do not have a compatible wallet, it can be created with few simple steps, new prices can be set as the market fluctuates.
The user journey for artists and collectors is made simple and intuitive. New FAQ or contact request forms have been integrated for those who seek human interaction. Our white glove service is enhanced throughout the process.

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. Here are the most significant NFT projects it has executed:

ONUART Foundation & United Nations – NFT for Education in Africa: A collaboration with ONUART and the UN led to NFT auctions designed to fund school-building initiatives in Africa, combining philanthropy with digital innovation. In 2023, WISeArt artist were the first to donate generative artworks to the ONUART Foundation in celebration of the 71^st anniversary of the UN Human Right Charter.
Antonio Banderas Foundation – Pedro Sandoval NFT Drop: A limited-edition NFT by artist Pedro Sandoval was sold to benefit the Antonio Banderas Foundation, showcasing WISe.ART’s support for social causes through cultural art.
Swiss Collector Events & WISe.ART Awards: WISe.ART has organized NFT art exhibitions, including the WISe.ART Awards, recognizing digital creators and curators pioneering new frontiers in NFT art.

Revolutionizing the Future of Art

WISe.ART 3.0 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. A new physical space will open Geneva to represent WISe.ART digital works on May 22. This space aims to bridge the 19^th and 21^st Century technologies raising awareness among collectors. The showroom will be a case study for the web3 communities to mingle with their cultural heritage.

Accessible Art Purchasing — Crypto Optional

To acquire WISe.ART digital artworks, including those linked to NFTs or hosted on blockchains, cryptocurrency is not a requirement. NFTs are available for purchase in USD and other fiat currencies, and transactions can be completed securely via credit card, debit card, Apple Pay or Google Pay. Additionally, Crossmint facilitates the conversion of fiat money to crypto for users who wish to engage in blockchain-based purchases. While collectors of blockchain-based works typically need a crypto wallet, platforms such as Metamask and WalletConnect make wallet setup simple, intuitive, and user-friendly, enabling purchases with the ease of acquiring a traditional artwork.

Carlos Moreira, Founder and CEO of WISeKey, stated: “Since inception the platform has welcomed an eclectic array of works representing all types of art from physical pieces coupled with digital twins, numeric compositions, ai assisted or generated art, music and film as well as collectibles like real estate, jewelry and design. As technology progresses, we attract artists who are keen to explore the new possibilities and means to convey their message. Technology is a tool – art is a vector for communication.”

WISe.ART 3.0 opens the door to a future where creativity meets accountability, and where digital assets are as protected and valuable as their physical counterparts. For more information, visit www.wise.art

About WISeKey

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

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

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

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

Press and Investor Contacts

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

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

The MIL Network –

May 21, 2025

MIL-OSI: Bitcoin Buys a View: Trump Tower Dubai Embraces Cryptocurrency Payments via Deus X Pay

Source: GlobeNewswire (MIL-OSI)

VILNIUS, Lithuania, May 21, 2025 (GLOBE NEWSWIRE) — Deus X Pay, a licensed institutional stablecoin payment solution setting new standards across the luxury sectors, is now enabling crypto payments for property purchases at the new Trump Tower Dubai, the first Trump International Hotel to be built in the Middle East.

The new $1 billion Trump Tower Dubai, unveiled through partnership with London-listed Dar Global, marks a breakthrough in global luxury real estate. Eric Trump, Executive Vice President of the Trump Organisation and son of US President Donald Trump, has recently announced that Bitcoin and other digital currencies will be accepted for condo sales.

Ziad El Chaar, CEO of Dar Global, said the Trump Tower Dubai is among the most ambitious Trump-branded residential towers globally, reflecting the project’s magnitude, stature, and symbolic significance in the region and internationally.

Trump previously told Gulf Business that Dubai is where luxury real estate and financial innovation intersect, and projects like Trump Tower Dubai are leading the way. By embracing technologies like stablecoins, buyers gain a faster, cheaper and more transparent way to secure exclusive, high-end properties while reshaping how luxury transactions are conducted.

Deus X Pay, a licensed Virtual Asset Service Provider (VASP) in Lithuania, offers institutional stablecoin payment solutions, enabling luxury sectors such as real estate, aviation and yachting to capitalise on this new era of finance. Deus X Pay CEO, Richard Crook, highlights that Dubai has created an environment where stablecoins can flourish as a practical, secure tool for international transactions (with Crypto Watch reporting that crypto adoption in the UAE is expected to surge 210% in 2025), giving premium buyers faster, frictionless access to high-value assets.

“Dubai’s forward-thinking stance has unlocked a whole new economy, and the gold standard for transactions of high-value assets. International buyers seek faster settlements, fewer cross-border complications and seamless access to premium developments. This project is a defining moment — not just for Deus X Pay, but for the global real estate sector. We are thrilled to deliver the regulated rails that make it possible for premium property buyers to transact instantly, compliantly and without the traditional delays or friction.”

The Trump Tower Dubai, an 80-story architectural icon, offers the highest international standards for ultra-high-net-worth travellers and long-stay residents. The exclusive building boasts 2-3 bedroom apartments and 4-bedroom penthouses valued at over AED 73 million, the highest outdoor swimming pool in the world, and has views of the world’s tallest building, the Burj Khalifa.

This new skyscraper is part of an expanding trend across private aviation, superyachts, and luxury collectables as high-end sectors embrace digital assets as a payment option to future-proof legacy industries.

For media enquiries, contact:
Sarah Tran
Head of Marketing
media@deusxpay.com

About Deus X Pay
Deus X Pay is a regulated provider of institutional stablecoin payment solutions, revolutionising the authorisation, clearing, and settlement of cryptocurrency payments. We enhance global payment options for institutions, businesses, and corporations by seamlessly merging traditional finance with advanced digital payment infrastructure, enabling faster, more cost-effective, and secure transactions.

Fully compliant and regulated as a Virtual Asset Service Provider, Deus X Pay operates under a license in Lithuania, supervised by the Financial Crime Investigation Service (FNTT), the Czech Republic, supervised by the Financial Analytical Office (FAU), and in Canada, supervised by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

As a part of the innovative crypto investment firm Deus X Capital, we equip organisations with state-of-the-art financial tools aimed at fostering growth and success in today’s dynamic market.

Disclaimer: This is a paid post and is provided by Deus X Pay. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4da4d9a6-74af-4322-b030-f4ed0f09eb4f

The MIL Network –

May 21, 2025
MIL-OSI: Prosafe SE: First-quarter results 2025
Source: GlobeNewswire (MIL-OSI)

(Figures in brackets refer to the corresponding period last year)

21 May 2025 – Prosafe SE reported EBITDA of USD 4.6 million (USD 7.2 million) for the first quarter of 2025. The company had four active vessels during the quarter.

Operations and HSSE
- Good operating performance
- Safe Zephyrus extended with Petrobras to Q3 2027
- Sale of Safe Concordia and Safe Scandinavia
- Safe Caledonia re-activated for UK contract with start 1 June
- Safe Boreas in transit to Singapore ahead of Australia contract
- Safe Notos declared winner of Brazil 4-year tender
Q1 financials
- Revenues of USD 33 million (USD 34 million) and EBITDA of USD 4.6 million (USD 7.2 million)
- Cash flow from operations of USD 28.4 million (negative USD 1.4 million) including contract prepayments for Safe Boreas and Safe Caledonia
- Capex of USD 21.2 million (USD 1.7 million) due to reactivation of Safe Boreas and Safe Caledonia
- Liquidity position of USD 54 million, compared to USD 46.8 million at year-end 2024
Recapitalisation
- Terms agreed for equitisation of USD 193 million of debt for 90% of the shares in the company
- Supported by lenders representing the USD 250 million and the USD 93 million loan facilities and approved by Prosafe shareholders at the extraordinary general meeting on 16 May
- Existing shareholders to retain 5% ownership with penny warrants for further 5% at EUR 0.01 per share
- Transaction provides a sustainable capital structure and sufficient liquidity to meet capital expenditure and working capital needs for the foreseeable future
- Estimated post recapitalization net debt of USD 220 million
- Expected completion in Q3 2025
Market and outlook
- Ongoing Petrobras tenders confirm strong market fundamentals in Brazil
- North Sea operators continue to plan for future campaigns with focus on 2027 and beyond
- Increased backlog, improved market and recapitalisation positions Prosafe for improved earnings
Please see the Q1 2025 presentation for further details.

Terje Askvig, the CEO of Prosafe, says, “Operationally, we maintain high utilisation on our active fleet, while making good progress on preparing for new contracts in Australia and the UK. We also continue to build backlog with Safe Notos recently named winner, subject to final contract, of a 4-year tender with Petrobras in Brazil. We are also very pleased with the support shown by our lenders and shareholders through the agreed refinancing which will create a sustainable capital structure going forward and ensure that Prosafe continues to be the world’s leading provider of floating accommodation vessels and Units for Maintenance and Safety (UMS).”

Presentation

Terje Askvig, CEO, and Reese McNeel, CFO, will present the results at Pareto Securities, located at Dronning Mauds gate 3, 0115 Oslo, on 21 May 2025 at 10:00 CEST.

This presentation is open to the public and will be live-streamed on Prosafe’s website.

https://wwww.prosafe.com

It will be possible to ask questions during the presentation by using the Q&A tool embedded in the audiocast. These questions will be answered after the presentation.

A replay of the audiocast will be made available on Prosafe’s website shortly after.

The Q1 2025 press release and presentation is attached and can be downloaded from https://www.prosafe.com and www.newsweb.no (https://www.newsweb.no). The 2024 annual report was published on 30 April 2025.

Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com (https:///www.prosafe.com)

For further information, please contact:

Terje Askvig, CEO Phone: +47 952 03 886

Reese McNeel, CFO Phone: +47 415 08 186

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

Attachments
- Q1 2025 presentation Prosafe
- Q1 2025 earnings release
The MIL Network –
May 21, 2025
MIL-OSI China: Renovation of old residential communities benefits 120M people

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

China renovated 280,000 old residential communities from 2019 to 2024, benefiting more than 120 million people, Vice Minister of Housing and Urban-Rural Development Qin Haixiang said Tuesday.

The nationwide program has benefited 48 million households, Qin said at a State Council Information Office press conference on a set of guidelines regarding the country’s urban renewal efforts.

The renovation program has upgraded 360,000 km of aging pipelines, added 3.87 million parking spaces, and constructed 78,000 community service facilities for elderly care and childcare, according to official data.

Local authorities have focused on addressing residents’ most pressing concerns. They also implemented energy-efficiency renovations covering 446 million square meters of residential buildings nationwide.

Regions across China have also prioritized installing elevators in existing residential buildings as a key livelihood project. This initiative has particularly benefited the elderly and mobility-impaired.

“This allows elderly people with mobility difficulties and trouble navigating stairs to now conveniently go downstairs to enjoy sunshine and chat with longtime neighbors,” Qin said. “This benefits their physical and mental health and has been widely welcomed by the communities.”

By the end of 2024, China’s urbanization rate reached 67 percent, with 940 million people living in urban areas, according to official data. The country is intensifying efforts to advance its urban renewal initiative as it strives to build livable, resilient and smart cities, and to bolster high-quality development.

In its latest push, China on May 15 unveiled a set of guidelines, pledging increased policy and financial support for urban renewal projects, which can range from gas pipe updates and lift installations to the renovation of old factories into commercial zones.

The guidelines, issued by the general offices of the Communist Party of China Central Committee and the State Council, are designed to achieve key progress in the country’s urban renewal campaign by 2030. They also aim to improve safety conditions, enhance service efficiency, elevate living environments, develop business models, and preserve cultural heritage.

“We’re working to improve utilization of existing resources by renovating old factories, inefficient buildings, and traditional commercial facilities,” Qin noted.

MIL OSI China News –

May 21, 2025
MIL-OSI New Zealand: Release: Search begins for rare family receiving $250

Source: New Zealand Labour Party

The Government can’t say if even a single family has received the $250 a fortnight they were promised.

“It’s time Nicola Willis got her binoculars out to begin the search for a family that has received her promised cost of living relief,” Labour finance and economy spokesperson Barbara Edmonds said.

“There are 33 examples of where she is planning to cut women’s pay, but she can’t come up with a single example of anyone who has received the full $252 she promised.

“People who received it appear to be rarer than the little spotted Kiwi, the fairy tern, new ferries, or Nicola Willis answering a question without blaming Labour.

“National said it would help with cost of living, but so far all New Zealanders are getting are broken promises and cuts to women’s pay.

“It’s possible that not a single New Zealander received $252, and so the great Kiwi treasure hunt for Nicola Willis’ cost of living relief begins,” Barbara Edmonds said.

Stay in the loop by signing up to our mailing list and following us on Facebook, Instagram, and X.

MIL OSI New Zealand News –

May 21, 2025
MIL-OSI New Zealand: Release: Half a billion dollar tax break for tech giants

Source: New Zealand Labour Party

The Government is taking the Digital Services Tax off their books, effectively handing a $479 million tax break to global tech giants, like Facebook and Google.

“First it was tax breaks for landlords and tobacco companies, now it’s multinational technology companies,” Labour finance and economy spokesperson Barbara Edmonds said.

“Under National if you’re already doing well, you can have a tax break to do even better. But everyone else, everyday Kiwis, miss out.

“The message from this Government could not be clearer: if you’re a woman seeking equal pay, or a family trying to get the FamilyBoost payment that was promised to you, then you don’t matter.

“But if a wealthy corporation comes asking for help, they will bend over backwards to give them a break—at your expense.

“Nicola Willis promised Kiwi families $250 a fortnight, but she can’t find a single family who got it. More than a quarter of their FamilyBoost scheme, about $14 million, has been eaten up in bureaucracy instead of going to families as promised.

“They’re telling New Zealanders we need to tighten our belts, but this Government keeps giving handouts to the people who need it least and taking it from the people who need it most.

“Budgets are about choices, and at every turn this Government is making the wrong choices.

“We need a government that is focused on improving the lives of New Zealanders, not making global tech giants like Facebook and Google even more profit,” Barbara Edmonds said.

Note to editors: The $479 million figure comes from the Half Year Economic and Fiscal Update 2024 (page 76), which states: “The forecasts currently account for a 1 January 2026 implementation and include revenue of $479 million over the forecast period in relation to the DST with an additional $146 million per annum expected beyond the forecast period.”

Stay in the loop by signing up to our mailing list and following us on Facebook, Instagram, and X.

MIL OSI New Zealand News –

May 21, 2025

Category: Economy

UK House Price Index for March 2025

England

Price change by region for England

Repossession sales by volume for England

Average price by property type for England

Funding and buyer status for England

Building status for England

London

Average price by property type for London

Funding and buyer status for London

Building status for London

Wales

Average price by property type for Wales

Funding and buyer status for Wales

Building status for Wales

UK house prices

Background

Contact

Share this page

Updates to this page