Category: Economy

  • MIL-OSI Europe: Answer to a written question – Corruption case in Greece – restoring trust in the EU’s control system – E-000865/2025(ASW)

    Source: European Parliament

    1. The Commission strongly supports the work of the European Public Prosecutor’s Office (EPPO), as the EU’s independent public prosecution office responsible for investigating, prosecuting and bringing to judgment crimes against the financial interests of the EU. It cooperates with the EPPO under the terms of their cooperation agreement[1]. On the issue referred to by the Honourable Members, the EPPO has brought suspects of fraud before the competent Greek Court, as stated in its press release[2], and criminal proceedings are currently ongoing.

    2. The Directorate-General for Agriculture and Rural Development (DG AGRI) has performed several systems’ audits in Greece over the years and, where needed, applied the appropriate financial corrections to protect EU funds. Under the Common Agricultural Policy (CAP), Member States’ Paying Agencies must respect strict accreditation criteria established at EU level. Following DG AGRI’s request, the Greek competent authority put the Greek Paying Agency under probation in September 2024 and drew up an action plan aimed at remedying the deficiencies identified in relation to compliance with the accreditation criteria by the Certification Body and DG AGRI. The action plan is currently being implemented by the Greek authorities . DG AGRI closely follows the implementation of the accreditation action plan and the risk to the EU funds under ongoing conformity enquiries.

    • [1] https://www.eppo.europa.eu/sites/default/files/2021-07/2021.073_Agreement_EPPO_European_Commission_final.pdf
    • [2] https://www.eppo.europa.eu/en/media/news/greece-eppo-brings-100-suspects-to-court-eu29-million-fraud-involving-agricultural-funds
    Last updated: 11 April 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – European fire safety strategy – E-000779/2025(ASW)

    Source: European Parliament

    The European Affordable Housing Plan will include a dedicated European Strategy for Housing Construction to foster productivity and competitiveness in the construction sector to increase housing supply. While the Plan is not expected to alter national fire safety requirements, the Commission is already pursuing a number of relevant initiatives:

    — The recast Energy Performance of Buildings Directive[1] (EPBD) provides that Member States must address the issues of fire safety in new buildings and buildings undergoing major renovation and may address fire safety in their national building renovation plans.

    — In the context of the implementation of the EPBD, the Commission has recently launched a call for tender[2] aiming at providing the Member States with guidance on fire safety linked to the electrification and renovation of buildings.

    — The Commission has published guidance of fire safety for electric vehicles parked and charging infrastructure in covered parking spaces[3], which will feed into the guidance on fire safety in car parks required by the EPBD.

    — The Fire Information Exchange Platform (FIEP) is supports exchange of information relevant for fire safety considerations.

    — In the context of the implementation of the Construction Products Regulation[4] (CPR), the Commission will initiate a horizontal CPR Acquis group for fire issues. One of the subjects this forum will discuss is the new test method for fire performance of façades.

    — Later this year, the Commission will launch a call for tender for preparatory action on fire safety statistics in close collaboration with the Member States.

    • [1] Directive (EU) 2024/1275 of the European Parliament and of the Council of 24 April 2024 on the energy performance of buildings (recast). OJ L, 2024/1275, 8.5.2024. http://data.europa.eu/eli/dir/2024/1275/oj
    • [2] https://webgate.ec.europa.eu/digit/opsys/esubmission-fo-ui/?cftUuid=f762535d-cef8-4774-b779-8b7f8f0c5b34
    • [3] Guidance of fire safety for electric vehicles parked and charging infrastructure in covered parking spaces — Publications Office of the EU (https://op.europa.eu/en/publication-detail/-/publication/c2c1f892-f3ef-11ef-b7db-01aa75ed71a1/language-en).
    • [4] https://single-market-economy.ec.europa.eu/sectors/construction/construction-products-regulation-cpr_en
    Last updated: 11 April 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – The impact of climate change on deaths from heat and cold in European cities – E-000645/2025(ASW)

    Source: European Parliament

    1. The Commission shares the concern of the Honourable Member. Already in March 2024, the European Climate Risk Assessment has ranked heat stress as an urgent risk to act on[1]. Complementing the measures included in the 2021 EU Strategy on Adaptation to Climate Change to protect communities from the urban heat island effect[2], the Commission Communication on managing climate risks from 2024[3] announced additional action to protect workers from heat stress. The ongoing development of a European Climate Adaptation Plan provides now another opportunity to better protect local communities from growing heat stress through further and more ambitious EU action.

    2. The Commission will consider future legislation on climate resilience and preparedness as part of the European Climate Adaptation Plan, which is expected to be adopted during the second half of 2026. However, the need for new legislation, and whether it would need to address public health risks specifically, can only be determined during the related Impact Assessment process and following consultations with Parliament, the Member States and other stakeholders.

    3. The recent Commission Communication on the road to the next multiannual financial framework recognises that preparing for growing climate risks will need to be an overarching objective for EU action under the next EU budget, which will also play a central role in promoting social and territorial cohesion in the EU[4].

    • [1] https://www.eea.europa.eu/en/analysis/publications/european-climate-risk-assessment
    • [2] COM(2021) 82 final.
    • [3] COM(2024) 91 final.
    • [4] COM(2025) 46 final.
    Last updated: 11 April 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Use of EU funds to finance ‘green’ lobbies – E-000296/2025(ASW)

    Source: European Parliament

    The EU programme for the environment and climate action (LIFE[1]) provides, amongst others, financial support for the functioning of non-governmental organisations (NGOs), supporting civil society’s participation in policy making, in line with the LIFE Regulation[2] and the EU Financial Regulation[3].

    LIFE operating grants are awarded following a competitive procedure. Applicants submit proposals that include their work programme of activities in policy areas indicated in the LIFE Regulation.

    This work programme is annexed to their grant agreement. The Commission does not prescribe the specific activities to be carried out by the NGOs in their work programme , nor does it instruct them to support specific positions . According to these grant agreements, any opinions expressed, and activities carried out remain the sole responsibility of the NGOs.

    The Commission agrees that work programmes involving specifically detailed activities directed at EU institutions and some of their representatives, even if they do not breach the legal framework, may entail a reputational risk for the EU.

    To mitigate this risk, the Commission issued guidance[4] for both existing grant agreements and future calls, addressed to all Commission services and applicable to all spending programmes. The guidance clarifies which activities should not be mandated as a requirement or condition for Union financing.

    The Commission does not intend to revise the European Green Deal[5] or to review and/or withdraw the legislation concerned . Green Deal legislation has been subject to public consultation, in line with Better Regulation principles[6].

    Environmental organisations and other stakeholders had the opportunity to present their opinion and positions. In addition, the Commission publishes information on meetings held with interest representatives on its transparency websites.

    • [1] https://cinea.ec.europa.eu/programmes/life_en
    • [2] Regulation (EU) 2021/783 of the European Parliament and of the Council of 29 April 2021 establishing a Programme for the Environment and Climate Action (LIFE), and repealing Regulation (EU) No 1293/2013.
    • [3] Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union (recast), ELI: http://data.europa.eu/eli/reg/2024/2509/oj
    • [4] https://ec.europa.eu/info/funding-tenders/opportunities/docs/2021-2027/common/guidance/guidance-funding-dev-impl-monit-enforce-of-eu-law_en.pdf
    • [5] https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal_en
    • [6] https://commission.europa.eu/law/law-making-process/better-regulation_en

    MIL OSI Europe News

  • MIL-OSI Europe: EU Fact Sheets – Integrated maritime policy of the European Union – 10-04-2025

    Source: European Parliament

    The integrated maritime policy (IMP) of the EU is a holistic approach to all sea-related EU policies. It is based on the idea that the Union can draw higher returns from its maritime space with less impact on the environment by coordinating its wide range of interlinked activities related to oceans, seas and coasts. Hence, the IMP aims at strengthening the so-called blue economy, encompassing all sea-based economic activities.

    MIL OSI Europe News

  • MIL-OSI Europe: EU Fact Sheets – Just Transition Fund – 10-04-2025

    Source: European Parliament

    The Just Transition Fund is a financial instrument within the Cohesion Policy, which seeks to provide support to territories facing serious socio-economic challenges arising from the transition towards climate neutrality. The Just Transition Fund will facilitate the implementation of the European Green Deal, which aims to make the EU climate-neutral by 2050.

    MIL OSI Europe News

  • MIL-OSI: Unity Bancorp Reports Quarterly Earnings of $11.6 Million

    Source: GlobeNewswire (MIL-OSI)

    CLINTON, N.J., April 11, 2025 (GLOBE NEWSWIRE) — Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $11.6 million, or $1.13 per diluted share, for the quarter ended March 31, 2025, compared to net income of $11.5 million, or $1.13 per diluted share for the quarter ended December 31, 2024. This represents a 0.8% increase in net income.

    James A. Hughes, President and CEO, commented on the financial results: “We are pleased to announce another strong quarter for Unity Bancorp, Inc. We earned $11.6 million in net income, or $1.13 per diluted share, representing 1.83% ROA and 15.56% ROE.

    Our Commercial and Residential lending had strong originations, growing loans by $84.5 million in the first quarter, a 3.74% increase from year-end. Our Retail division also demonstrated their deposit gathering capabilities, with customer deposits (ex-brokered deposits) increasing by $90.7 million, or 4.82%, quarter over quarter. We will continue to diligently manage our balance sheet, and aim to fund future credit growth by growing deposits in tandem. Furthermore, we will continue to maintain disciplined credit-risk management, by underwriting credits to conservative loan-to-value and debt-service-coverage levels, as well as swiftly addressing delinquency and non-performing asset scenarios as they arise.

    Despite the recent volatility seen in the capital markets primarily due to the implementation of tariffs, as a community bank we do not see any adverse impacts on prospective loan demand. A portion of our small business customers are poised to benefit from tariffs on foreign goods. Further, to the extent that our customers are negatively impacted, we are on standby and will remain a trusted advisor to help them navigate any potential difficulties. Our balance sheet growth highlights Unity’s commitment to providing financial services that support economic development in our local communities. Our motto “Growing With You” has never been more relevant. The relentless dedication of our employees to delivering best-in-class customer service has driven these impressive financial results.”

    For the full version of the Company’s quarterly earnings release, including financial tables, please visit News – Unity Bank (q4ir.com).

    Unity Bancorp, Inc. is a financial services organization headquartered in Clinton, New Jersey, with approximately $2.8 billion in assets and $2.2 billion in deposits. Unity Bank, the Company’s wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its robust branch network located in Bergen, Hunterdon, Middlesex, Morris, Ocean, Somerset, Union, and Warren Counties in New Jersey and Northampton County in Pennsylvania. For additional information about Unity, visit our website at www.unitybank.com, or call 800-618-BANK.

    This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance. These statements may be identified by use of the words “believe”, “expect”, “intend”, “anticipate”, “estimate”, “project” or similar expressions. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond the Company’s control that could impede its ability to achieve these goals. These factors include those items included in our Annual Report on Form 10-K under the heading “Item IA-Risk Factors” as amended or supplemented by our subsequent filings with the SEC, as well as general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, our ability to manage and reduce the level of our nonperforming assets, results of regulatory exams, and the impact of any health crisis or national disasters on the Bank, its employees and customers, among other factors.

    This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

    News Media & Financial Analyst Contact:
    George Boyan, EVP and CFO
    (908) 713-4565

    PDF available: http://ml.globenewswire.com/Resource/Download/fe9c7f9d-e20c-4e4d-a2aa-71f584057b57

    The MIL Network

  • MIL-OSI: CIB Marine Bancshares, Inc. Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, Wis., April 11, 2025 (GLOBE NEWSWIRE) — CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH), the holding company of CIBM Bank (the “Bank”), announced its unaudited results of operations and financial condition for the quarter and three months ended March 31, 2025. Net income of $0.3 million for the first quarter of 2025, or $0.24 basic and $0.23 diluted net income per share, compares to $0.2 million during the same quarter of 2024, or $0.13 basic and $0.10 diluted net income per share.

    Financial highlights for the quarter include:

    • Net interest margin increased to 2.62% compared to 2.44% for the fourth quarter of 2024 and 2.29% for the first quarter of 2024. The rising trend continues as the cost of funds reprices lower relative to the changes in yields on earning assets. Net interest income rose $0.3 million compared to the same quarter of 2024, primarily due to declining cost of funds and improved net interest margin.
    • Although quarter-end loan balances declined $12 million compared to December 31, 2024, the allowance for credit losses to loans rose from 1.26% to 1.29%, primarily due to a deterioration in forecasted short-term economic outcomes. Non-performing assets to total assets of 0.67% and non-accrual loans to loans of 0.84% on March 31, 2025, compares to 0.68% and 0.81%, respectively, on December 31, 2024. In 2024, the Bank maintained lower loan balances to support the preferred stock redemption and ensure appropriate capital ratios. Looking ahead, an increase in the loan portfolio is expected over the remainder of the year, primarily driven by growth in the commercial segments.
    • The Banking Division’s $0.8 million of net income for the quarter was unchanged from the same period the prior year. Due to seasonal factors and high interest rates, the Mortgage Division experienced a slow first quarter, resulting in a net loss of $0.2 million, which is an improvement of $0.2 million compared to the same period in 2024 due to cost-saving actions implemented earlier. The net remaining Other Division, comprised primarily of parent company operations, had a net loss of $0.3 million with roughly one-third of that amount attributed to subordinated debt interest expense. Although the parent company has a $2 million line of credit, no draws have been made on that potential funding source to date.

    Mr. J. Brian Chaffin, CIB Marine’s President and CEO, commented, “Our banking operations have gained momentum, with our strong corporate banking group rebuilding the commercial loan pipeline and our net interest margin trending higher due to management’s diligent efforts to lower our cost of funds. Despite an improvement of $0.2 million from the first quarter of the previous year, the Mortgage Division reported a loss due to the challenging business environment for residential mortgages. We anticipate a decline in overall mortgage production for the remainder of the year compared to the previous year, primarily due to lender staff reductions, but remain confident in the capabilities of our current lending team to deliver solid mortgage production.”

    He added, “In February, we announced the launch of our 2025 common stock repurchase program, which is expected to buy back up to $1 million worth of shares through the end of the year. During the first quarter of 2025, we spent $235,000 in open market transactions to buy 7,429 shares at an average price of $31.65 per share. This price was significantly lower than the tangible book value of $57.37 per share as of December 31, 2024, and the repurchases contributed to an increase in the tangible book value to $58.46 per share by March 31, 2025.”

    As the Company prepares for its upcoming annual meeting, he concluded, “We look forward to discussing key topics related to our operating results and capital plans at the Annual Shareholder Meeting on Thursday, April 24th, 2025. Shareholders are encouraged to visit our website for more information about the virtual meeting and to review the meeting materials.”

    CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates nine banking offices in Illinois, Wisconsin, and Indiana, and has mortgage loan officers and/or offices in six states. More information on the Company is available at www.cibmarine.com, including recent shareholder letters, links to regulatory financial reports, and audited financial statements.

    FORWARD-LOOKING STATEMENTS
    CIB Marine has made statements in this release that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as “may,” “project,” “are confident,” “should be,” “intend,” “predict,” “believe,” “plan,” “expect,” “estimate,” “anticipate” and similar expressions. These forward-looking statements reflect CIB Marine’s current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine’s operations and the business environment, which could change at any time.

    There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements.

    Stockholders should note that many factors, some of which are discussed elsewhere in this Earnings Release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine’s control, include but are not limited to:

    • operating, legal, execution, credit, market, security (including cyber), and regulatory risks;
    • economic, political, and competitive forces affecting CIB Marine’s banking business;
    • the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; and
    • the risk that CIB Marine’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.

    These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine’s actual results may differ materially from the results discussed in forward-looking statements.

    FOR INFORMATION CONTACT:
    J. Brian Chaffin, President & CEO
    (217) 355-0900
    brian.chaffin@cibmbank.com

     
    CIB MARINE BANCSHARES, INC.
    Selected Unaudited Consolidated Financial Data
                     
      At or for the
      Quarters Ended   3 Months Ended
      March 31, December 31, September 30, June 30, March 31,   March 31, March 31,
      2025 2024 2024 2024 2024   2025 2024
      (Dollars in thousands, except share and per share data)
    Selected Statement of Operations Data:                
    Interest and dividend income $ 10,941   $ 11,408   $ 12,283   $ 12,052   $ 11,801     $ 10,941   $ 11,801  
    Interest expense   5,652     6,259     6,707     6,897     6,840       5,652     6,840  
    Net interest income   5,289     5,149     5,576     5,155     4,961       5,289     4,961  
    Provision for (reversal of) credit losses   42     (332 )   (113 )   10     (28 )     42     (28 )
    Net interest income after provision for                
    (reversal of) credit losses   5,247     5,481     5,689     5,145     4,989       5,247     4,989  
    Noninterest income (1)   1,552     1,724     2,897     6,904     1,627       1,552     1,627  
    Noninterest expense   6,373     6,678     7,163     6,904     6,421       6,373     6,421  
    Income before income taxes   426     527     1,423     5,145     195       426     195  
    Income tax expense   105     123     347     1,361     17       105     17  
    Net income (loss) $ 321   $ 404   $ 1,076   $ 3,784   $ 178       $ 321   $ 178  
                     
    Common Share Data:                
    Basic net income (loss) per share (2) $ 0.24   $ 0.60   $ 0.79   $ 2.79   $ 0.13     $ 0.24   $ 0.13  
    Diluted net income (loss) per share (2)   0.23     0.54     0.59     2.06     0.10       0.23     0.10  
    Dividend   0.00     0.00     0.00     0.00     0.00       0.00     0.00  
    Tangible book value per share (3)   58.46     57.37     57.80     55.36     52.59       58.46     52.59  
    Book value per share (3)   58.51     57.42     56.06     53.61     50.84       58.51     50.84  
    Weighted average shares outstanding – basic   1,348,995     1,357,737     1,357,259     1,356,255     1,341,181       1,348,995     1,341,181  
    Weighted average shares outstanding – diluted   1,396,274     1,507,344     1,833,586     1,833,881     1,820,498       1,396,274     1,820,498  
    Financial Condition Data:                
    Total assets $ 852,018   $ 866,474   $ 888,283   $ 901,634   $ 897,595     $ 852,018   $ 897,595  
    Loans   684,787     697,093     707,310     719,129     736,019       684,787     736,019  
    Allowance for credit losses on loans   (8,818 )   (8,790 )   (8,973 )   (9,083 )   (9,087 )     (8,818 )   (9,087 )
    Investment securities   124,109     120,339     120,349     123,814     119,300       124,109     119,300  
    Deposits   692,028     692,378     747,168     768,984     772,377       692,028     772,377  
    Borrowings   67,214     81,735     33,583     28,222     32,120       67,214     32,120  
    Stockholders’ equity   79,309     77,961     92,358     89,008     85,091       79,309     85,091  
    Financial Ratios and Other Data:                
    Performance Ratios:                
    Net interest margin (4)   2.62 %   2.44 %   2.55 %   2.38 %   2.29 %     2.62 %   2.29 %
    Net interest spread (5)   1.99 %   1.74 %   1.80 %   1.71 %   1.63 %     1.99 %   1.63 %
    Noninterest income to average assets (6)   0.73 %   0.82 %   1.25 %   3.09 %   0.73 %     0.73 %   0.73 %
    Noninterest expense to average assets   3.05 %   3.06 %   3.17 %   3.09 %   2.87 %     3.05 %   2.87 %
    Efficiency ratio (7)   93.65 %   96.17 %   85.32 %   57.19 %   97.20 %     93.65 %   97.20 %
    Earnings (loss) on average assets (8)   0.15 %   0.19 %   0.48 %   1.69 %   0.08 %     0.15 %   0.08 %
    Earnings (loss) on average equity (9)   1.65 %   1.94 %   4.71 %   17.92 %   0.84 %     1.65 %   0.84 %
    Asset Quality Ratios:                
    Nonaccrual loans to loans (10)   0.84 %   0.81 %   0.44 %   0.47 %   0.48 %     0.84 %   0.48 %
    Nonperformance assets to total assets (11)   0.67 %   0.68 %   0.38 %   0.41 %   0.43 %     0.67 %   0.43 %
    Nonaccrual loans, modified loans to borrowers experiencing                
    financial difficulty, loans 90 days or more past due and still                
    accruing to total loans   1.21 %   1.19 %   1.62 %   1.38 %   1.04 %     1.21 %   1.04 %
    Nonaccrual loans, OREO, modified loans to borrowers                
    experiencing financial difficulty, loans 90 days or more past                
    due and still accruing to total assets   0.97 %   0.98 %   1.32 %   1.14 %   0.89 %     0.97 %   0.89 %
    Allowance for credit losses on loans to total loans (10)   1.29 %   1.26 %   1.27 %   1.26 %   1.23 %     1.29 %   1.23 %
    Allowance for credit losses on loans to nonaccrual loans,                
    modified loans to borrowers experiencing financial difficulty loans                
    and loans 90 days or more past due and still accruing (10)   106.25 %   105.95 %   82.53 %   91.24 %   118.77 %     106.25 %   118.77 %
    Net charge-offs (recoveries) annualized                
    to average loans (10)   -0.01 %   -0.01 %   -0.01 %   0.03 %   0.03 %     -0.01 %   0.03 %
    Capital Ratios:                
    Total equity to total assets   9.31 %   9.00 %   10.40 %   9.87 %   9.48 %     9.31 %   9.48 %
    Total risk-based capital ratio   13.34 %   13.02 %   14.54 %   13.90 %   13.07 %     13.34 %   13.07 %
    Tier 1 risk-based capital ratio   10.62 %   10.33 %   11.89 %   11.27 %   10.48 %     10.62 %   10.48 %
    Leverage capital ratio   8.40 %   8.14 %   9.30 %   8.93 %   8.50 %     8.40 %   8.50 %
    Other Data:                
    Number of employees (full-time equivalent)   152     165     170     172     177       152     177  
    Number of banking facilities   9     9     9     9     9       9     9  
                     
    (1) Noninterest income includes gains and losses on securities.
    (2) Net income available to common stockholders in the calculation of earnings per share includes the difference between the carrying amount less the consideration paid for redeemed preferred stock of $0.4 million for the quarter ended December 31, 2024.
    (3) Tangible book value per share is the stockholder equity less the carry value of the preferred stock and less the goodwill and intangible assets, divided by the total shares of common outstanding. Book value per share is the stockholder equity less the liquidation preference of the preferred stock, divided by the total shares of common outstanding. Book value measures are reported inclusive of the net deferred tax assets. As presented here, shares of common outstanding excludes unvested restricted stock awards.
    (4) Net interest margin is the ratio of net interest income to average interest-earning assets.
    (5) Net interest spread is the yield on average interest-earning assets less the rate on average interest-bearing liabilities.
    (6) Noninterest income to average assets excludes gains and losses on securities.
    (7) The efficiency ratio is noninterest expense divided by the sum of net interest income plus noninterest income, excluding gains and losses on securities.
    (8) Earnings on average assets are net income divided by average total assets.
    (9) Earnings on average equity are net income divided by average stockholders’ equity.
    (10) Excludes loans held for sale.
    (11)Nonperforming assets includes nonaccrual loans and securities and other real estate owned.
     
    CIB MARINE BANCSHARES, INC.
    Consolidated Balance Sheets (unaudited)
               
      March 31, December 31, September 30, June 30, March 31,
      2025 2024 2024 2024 2024
      (Dollars in Thousands, Except Shares)
    Assets          
    Cash and due from banks $ 7,717   $ 6,748   $ 13,814   $ 10,690   $ 7,727  
    Reverse repurchase agreements                    
    Securities available for sale   121,939     118,206     118,145     121,687     117,160  
    Equity securities at fair value   2,170     2,133     2,204     2,127     2,140  
    Loans held for sale   7,685     13,291     19,472     17,897     8,048  
               
    Loans   684,787     697,093     707,310     719,129     736,019  
    Allowance for credit losses on loans   (8,818 )   (8,790 )   (8,973 )   (9,083 )   (9,087 )
    Net loans   675,969     688,303     698,337     710,046     726,932  
               
    Federal Home Loan Bank Stock   2,607     2,607     2,238     2,238     2,328  
    Premises and equipment, net   1,486     1,570     1,526     1,569     3,550  
    Accrued interest receivable   2,680     2,651     2,926     3,230     3,271  
    Deferred tax assets, net   12,529     12,955     12,796     14,840     14,849  
    Other real estate owned, net       200     211     283     375  
    Bank owned life insurance   6,486     6,437     6,388     6,340     6,291  
    Goodwill and other intangible assets   64     64     64     64     64  
    Other assets   10,686     11,309     10,162     10,623     4,860  
    Total assets $ 852,018   $ 866,474   $ 888,283   $ 901,634   $ 897,595  
               
    Liabilities and Stockholders’ Equity          
    Deposits:          
    Noninterest-bearing demand $ 98,403   $ 86,886   $ 95,471   $ 95,457   $ 87,621  
    Interest-bearing demand   77,620     84,833     90,095     86,728     92,092  
    Savings   232,046     224,960     234,969     244,595     261,998  
    Time   283,959     295,699     326,633     342,204     330,666  
    Total deposits   692,028     692,378     747,168     768,984     772,377  
    Short-term borrowings   57,444     71,973     23,829     18,477     22,383  
    Long-term borrowings   9,770     9,762     9,754     9,745     9,737  
    Accrued interest payable   1,614     1,911     2,101     2,145     1,982  
    Other liabilities   11,853     12,489     13,073     13,275     6,025  
    Total liabilities   772,709     788,513     795,925     812,626     812,504  
               
    Stockholders’ Equity          
    Preferred stock, $1 par value; 5,000,000 authorized shares at periods prior to December 31, 2024; 7% fixed rate noncumulative perpetual issued; 14,633 shares of series A and 1,610 shares of series B; convertible; $16.2 million aggregate liquidation preference           13,806     13,806     13,806  
    Common stock, $1 par value; 75,000,000 authorized shares; 1,382,609 and 1,372,642 issued shares; 1,356,247 and 1,358,473 outstanding shares at March 31, 2025 and December 31, 2024, respectively. (1)   1,383     1,372     1,372     1,372     1,369  
    Capital surplus   181,801     181,708     181,603     181,486     181,380  
    Accumulated deficit   (99,167 )   (99,487 )   (100,297 )   (101,373 )   (105,157 )
    Accumulated other comprehensive income (loss), net   (3,939 )   (5,098 )   (3,592 )   (5,749 )   (5,773 )
    Treasury stock, 27,084 shares on March 31, 2025 and 14,791 shares December 31, 2024 (2)   (769 )   (534 )   (534 )   (534 )   (534 )
    Total stockholders’ equity   79,309     77,961     92,358     89,008     85,091  
    Total liabilities and stockholders’ equity $ 852,018   $ 866,474   $ 888,283   $ 901,634   $ 897,595  
               
    (1) Both issued and outstanding shares as stated here exclude 51,684 shares and 42,259 shares of unvested restricted stock awards at March 31, 2025 and December 31, 2024, respectively.
    (2) Treasury stock includes 722 shares held by subsidiary bank CIBM Bank.
               
    CIB MARINE BANCSHARES, INC.
    Consolidated Statements of Operations (Unaudited)
                     
      At or for the
      Quarters Ended   3 Months Ended
      March 31, December 31, September 30, June 30, March 31,   March 31, March 31,
      2025 2024 2024 2024 2024   2025 2024
      (Dollars in thousands)
                     
    Interest Income                
    Loans $ 9,623   $ 9,999   $ 10,573   $ 10,582   $ 10,394     $ 9,623   $ 10,394  
    Loans held for sale   137     215     300     213     142       137     142  
    Securities   1,150     1,151     1,183     1,217     1,231       1,150     1,231  
    Other investments   31     43     227     40     34       31     34  
    Total interest income   10,941     11,408     12,283     12,052     11,801       10,941     11,801  
                     
    Interest Expense                
    Deposits   5,029     5,638     6,354     6,466     6,227       5,029     6,227  
    Short-term borrowings   504     500     232     310     493       504     493  
    Long-term borrowings   119     121     121     121     120       119     120  
    Total interest expense   5,652     6,259     6,707     6,897     6,840       5,652     6,840  
    Net interest income   5,289     5,149     5,576     5,155     4,961       5,289     4,961  
    Provision for (reversal of) credit losses   42     (332 )   (113 )   10     (28 )     42     (28 )
    Net interest income after provision for                
    (reversal of) credit losses   5,247     5,481     5,689     5,145     4,989       5,247     4,989  
                     
    Noninterest Income                
    Deposit service charges   59     55     63     67     66       59     66  
    Other service fees   (9 )   (5 )   (5 )   1     (5 )     (9 )   (5 )
    Mortgage banking revenue, net   1,140     1,564     2,264     2,166     1,209       1,140     1,209  
    Other income   177     192     150     273     163       177     163  
    Net gains on sale of securities available for sale   0     0     0     0     0       0     0  
    Unrealized gains (losses) recognized on equity securities   36     (71 )   78     (14 )   (18 )     36     (18 )
    Net gains (loss) on sale of SBA loans   161     0     420     0     202       161     202  
    Net gains on sale of assets and (writedowns)   (12 )   (11 )   (73 )   4,411     10       (12 )   10  
    Total noninterest income   1,552     1,724     2,897     6,904     1,627       1,552     1,627  
                     
    Noninterest Expense                
    Compensation and employee benefits   4,066     4,344     4,852     4,700     4,289       4,066     4,289  
    Equipment   559     467     504     457     462       559     462  
    Occupancy and premises   549     500     495     391     436       549     436  
    Data Processing   221     220     243     208     212       221     212  
    Federal deposit insurance   129     144     182     219     199       129     199  
    Professional services   278     240     254     219     199       278     199  
    Telephone and data communication   52     74     51     51     56       52     56  
    Insurance   64     71     78     80     81       64     81  
    Other expense   455     618     504     579     487       455     487  
    Total noninterest expense   6,373     6,678     7,163     6,904     6,421       6,373     6,421  
    Income from operations                
    before income taxes   426     527     1,423     5,145     195       426     195  
    Income tax expense   105     123     347     1,361     17       105     17  
    Net income (loss)   321     404     1,076     3,784     178       321     178  
    Preferred stock dividend   0     0     0     0     0       0     0  
    Discount from repurchase of preferred stock   0     406     0     0     0       0     0  
    Net income (loss) allocated to                
    common stockholders $ 321   $ 810   $ 1,076   $ 3,784   $ 178     $ 321   $ 178  
                     

    The MIL Network

  • MIL-OSI Economics: New Development Bank and National Bank for Financing Infrastructure and Development Sign MoU to accelerate Infrastructure and Sustainable Development Projects in India

    Source: New Development Bank

    On April 8, 2025, the New Development Bank (NDB) and the National Bank for Financing Infrastructure and Development (NaBFID), one of India’s premier development financial institutions (DFI), signed in Mumbai a Memorandum of Understanding (MoU)   to establish a strategic framework for cooperation in areas of mutual interest, including infrastructure and sustainable development projects.

    This collaboration will facilitate joint infrastructure investments in India and create a framework for the exchange of technical knowledge.

    NaBFID aims to work with NDB on clean energy and transportation projects, including renewable energy initiatives and sustainable water and sewage management, among others. The MoU also lays the foundation for both organisations to participate in infrastructure projects through thematic-level collaborations within their respective mandates.

    Additionally, NDB and NaBFID will partner in research and capacity-building initiatives, including seminars and workshops, to promote knowledge sharing and enhance institutional capabilities.

    NDB has approved nearly USD 10 billion in loans for 28 major infrastructure projects in India, including the Chennai, Indore, and Mumbai metro systems, the Delhi-Ghaziabad-Meerut Regional Rapid Transit System, and the Namo Bharat high-speed trains. Additionally, this funding supports the development of urban and rural roads, bridges and highways; water and sanitation; clean energy and USD 2 billion for COVID-19 emergency aid and economic recovery.

    Mr. Vladimir Kazbekov, Vice President and Chief Operating Officer, NDB, said, “We are delighted to partner with NaBFID to drive India’s infrastructure and social sector development. We are proud of the activities we have undertaken in our founding member country generating a robust USD 10 billion portfolio in a short time span. This MoU reflects our shared vision of fostering economic growth while promoting sustainable and inclusive development.”

    Commenting on the partnership, Mr. Rajkiran Rai G., Managing Director, NaBFID, said, “This collaboration with NDB marks a significant step in our commitment to nation-building and sustainable development. This MoU will help NaBFID accelerate infrastructure financing in clean energy and social impact projects, creating long-term value for all stakeholders.”

    About NDB 

    The New Development Bank (NDB) is a multilateral development bank established by Brazil, Russia, India, China and South Africa (BRICS) with the purpose of mobilising resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs). In 2021, NDB welcomed its first non-founding members and continues to expand, positioning itself as a platform for wider collaboration amongst EMDCs.  Since 2015, NDB has committed USD 35.6 billion in financing for 108 projects across sectors such as clean energy, transport, water and sanitation, environmental protection, social and digital infrastructure.

    About NaBFID

    National Bank for Financing Infrastructure Development (NaBFID) is a Development Financial Institution (DFI) established in April 2021. NaBFID is dedicated to accelerating the development of India’s infrastructure ecosystem by addressing the long-term financing needs of the sector. NaBFID plays a pivotal role in driving the nation’s economic growth and fostering sustainable development.

    NaBFID is committed towards its vision of becoming a strong provider of impact investment, catalysing infrastructure funding for transformative growth of India.

    NaBFID aims to be a key partner in helping India achieve its ambitious infrastructure development objectives – responsibly and sustainably. Additionally, NaBFID will work towards developing a deep and liquid market for bonds, loans, and derivatives for infrastructure financing.

    MIL OSI Economics

  • MIL-OSI Economics: Reserve Bank of India cancels the licence of Shankarrao Mohite Patil Sahakari Bank Ltd., Akluj

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI), vide order dated April 09, 2025, has cancelled the licence of “Shankarrao Mohite Patil Sahakari Bank Ltd., Akluj”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on April 11, 2025. The Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

    The Reserve Bank cancelled the licence of the bank as:

    1. The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.

    2. The bank has failed to comply with the requirements of Sections 22(3)(a), 22(3)(b), 22(3)(c), 22(3)(d), and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949.

    3. The continuance of the bank is prejudicial to the interests of its depositors.

    4. The bank with its present financial position would be unable to pay its present depositors in full; and

    5. Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.

    2. Consequent to the cancellation of its licence, “Shankarrao Mohite Patil Sahakari Bank Ltd., Akluj” is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949, with immediate effect.

    3. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of the DICGC Act, 1961. As per the data submitted by the bank, about 99.72% of the depositors are entitled to receive the full amount of their deposits from the DICGC. As on March 31, 2025, DICGC has already paid ₹47.89 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961, based on the willingness received from the concerned depositors of the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/86

    MIL OSI Economics

  • MIL-OSI: Genezys Launches $GNZ Token, Shifting the tide of Sports Engagement in Web3

    Source: GlobeNewswire (MIL-OSI)

    Genezys, an innovative platform at the intersection of Web3 and sports, has officially launched its $GNZ token—marking a significant milestone in its mission to transform how fans, athletes, and clubs interact within the decentralized sports ecosystem. At the heart of this revolution is Genezys’ decentralized platform, designed to empower sports fans, creators, and athletes with innovative tools, transparent infrastructure, and unique engagement opportunities.

    GRENOBLE, France, April 11, 2025 (GLOBE NEWSWIRE) — Following its much-anticipated Initial Coin Offering (ICO) on Kommunitas Launchpad, Genezys has captured the attention of both blockchain enthusiasts and sports fans alike. The ICO attracted significant interest from investors eager to be part of a platform that is redefining the digital interaction between fans and athletes, creating new pathways for engagement and financial support for clubs.

    As the sports industry continues to embrace digital transformations, Genezys is leveraging the power of blockchain to provide a transparent and secure environment for sports engagement. Its flagship product, the FanCard, is a unique NFT that allows fans to connect more closely with their favorite athletes or sports clubs, unlocking a variety of exclusive benefits such as special content, VIP experiences, and more.

    But Genezys is not just about fan engagement—it’s building an entire ecosystem around Web3 technology. The platform offers a Web3-powered marketplace for buying, selling, and trading FanCards, which are digital collectibles backed by blockchain, and even includes a gamified rewards system that incentivizes fan loyalty. The platform’s NFT-powered Launchpad allows sports clubs and athletes to issue their own tokens, and community engagement translates into real-world perks, enhancing the access and allocation for token holders.

    Genezys combines the best of blockchain security, decentralization, and NFT utility to deliver a cutting-edge sports experience. Built on Ethereum-compatible smart contracts and powered by IPFS for decentralized storage, the platform ensures data privacy, user control, and fast, transparent transactions. Fans can also interact with athletes and clubs in a more direct, meaningful way, thanks to Genezys’ seamless integration of Web3 tools into the sports community.

    The $GNZ token serves as the core utility within the Genezys ecosystem, unlocking a broad array of benefits for holders. These include access to premium FanCard collections, participation in the Launchpad for exclusive athlete and club token sales, and rewards within the community engagement system. Additionally, $GNZ holders gain voting rights for platform governance decisions, staking rewards when paired with NFTs, and exclusive access to gated communities and events.

    During its ICO on Kommunitas, Genezys surpassed 60% of its funding target within the first six hours and was fully subscribed under 72 hours, signaling the high demand for fan-driven blockchain applications. The platform’s post-IKO strategy includes expanding its AI and blockchain capabilities, onboarding new strategic partners, and leveraging token buybacks funded through platform revenue—all aimed at enhancing the long-term value and utility of the $GNZ token.

    Looking ahead, Genezys plans to expand across multiple blockchains, integrate new fan engagement technologies, and scale its suite of products. With its unique combination of decentralization, sports community engagement, and tokenized rewards, Genezys is poised to become a cornerstone in the Web3 sports ecosystem. By offering fans, athletes, and sports clubs a secure, user-friendly platform, Genezys is setting a new standard for how sports can be experienced and monetized in the digital age.

    About Genezys
    Genezys is a Web3-powered sports platform dedicated to creating secure, intelligent, and decentralized tools that empower fans, athletes, and clubs to engage with one another in innovative ways. Its native token, $GNZ, fuels a vibrant ecosystem of fan engagement, NFT collections, and sports token launches. With strategic alliances, cutting-edge technology, and a user-first approach, Genezys is redefining what’s possible in the digital sports world.

    Contact:
    Nathan Muscio
    nathan.muscio@genezys-app.com
    contact@genezys.xyz

    Disclaimer: This press release is provided by Genezys. 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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dfc81f27-a22f-4fc4-a546-9ff085e614d9

    The MIL Network

  • MIL-OSI: Meana Raptor Announces Presale with Real-World Utility, NFT Integration, and Anti-Whale Protections

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, April 11, 2025 (GLOBE NEWSWIRE) — Meana Raptor has announced the launch of its private presale for $MRT. Blending innovative tokenomics, NFT-driven rewards, real-world utility, and a golf-meets-blockchain narrative, Meana Raptor aims to redefine what a truly community-centric crypto project can achieve.

    The Meana Raptor Ecosystem
    Meana Raptor transcends the typical meme coin or token label. It stands as a decentralized entertainment and real-world integration brand with a multi-layered ecosystem that includes:

    1. NFT Integration
      • Golf Perks & Events: Exclusive NFTs that grant holders access to golf club perks, tournaments, and brand-sponsored events.
      • Future VR Park Access: Fusing virtual reality with on-ground access, each NFT becomes a key to Meana Raptor’s expanding VR and park ecosystem.
    2. Native Token ($MRT)
      • Anti-Whale Protections: Smart contract features that limit large-scale market manipulation and ensure a fair token distribution.
      • Cooldown Mechanisms: Preventing rapid buy-sell cycles, safeguarding both new and existing investors.
    3. Storytelling & Entertainment
      • YouTube Shorts & Animated Episodes: Bringing Meana Raptor’s lore to life through engaging stories and characters.
      • Narrative Layer: Transforming holders into characters within the Meana universe — fostering identity and belonging that goes beyond token ownership.
    4. Future DAO Governance
      • Token + NFT Gated Access: Token and NFT holders will have a say in guiding project decisions, ensuring the community’s voice remains central to the project’s evolution.

    Security & Transparency
    From its inception, Meana Raptor has prioritized ethical leadership and technical security:

    • Doxxed Leadership Team: Founder and key team members are publicly known, fostering trust among participants.
    • Anti-Bot / Anti-Dump Architecture: Robust smart contract code designed to protect token holders from pump-and-dump scenarios.
    • Team & Dev Fund Vesting: Hardcoded vesting ensures the team’s interests align with the community’s long-term success.
    • Audit in Progress: A thorough audit by SolidProof is underway, reflecting Meana Raptor’s unwavering commitment to accountability and investor protection.

    About the Founder
    Meana Raptor was founded by Roberto Brown, a Vietnamese-American entrepreneur who entered the crypto arena determined to create an honest, transparent, and utility-focused project. His firsthand experiences with failed projects and rug pulls motivated him to build something genuinely sustainable. Brown’s background in business strategy — combined with a personal commitment to investor protection and transparency — sets the foundation for Meana Raptor’s bold vision. His primary belief: blockchain should create long-term value, not just fleeting hype.

    The Team
    Behind Meana Raptor stands a fully doxxed, global team of experts dedicated to security, user engagement, and community-driven growth:

    • Smart Contract Engineers: From the U.S. and Asia, ensuring robust anti-whale features, anti-bot mechanisms, and security-first protocols.
    • Marketing Specialists: Including members from the U.K. and Nigeria, strategizing brand storytelling, investor education, and real-time campaign engagement.
    • Community Builders: Focused on fortifying the Raptor community, offering top-tier support, and fostering organic growth across different regions and social channels.

    United by a shared vision of investor-first development, this diverse team operates under strict guidelines of trust and accountability.

    Join the Raptor Movement
    Meana Raptor isn’t just launching; it’s awakening a movement that merges immersive storytelling, blockchain rewards, and real-world access perks. Early adopters have an unprecedented chance to mint NFTs, participate in the presale, and shape the direction of a brand poised to innovate in both virtual and physical realms.

    “This project is about more than crypto,” says founder Roberto Brown. “It’s about building a community that stands for trust, creativity, and tangible value. We’re here to reshape the conversation around what a token — and its holders — can achieve together.”

    Join Meana Raptor in pioneering a decentralized future that values trust, community input, and tangible utility. Welcome to a realm where the fairway meets the blockchain, and every participant holds a stake in the story.

    For more information, connect at:
    Website: www.meanaraptor.com

    For press inquiries, contact:
    Info@meanaraptor.com
    felipe@meanaraptor.com
    michael@meanaraptor.com
    robin@meanaraptor.com

    Media Contact
    Company Name: Meana Raptor
    Contact Person: Roberto Brown
    Email: info@meanaraptor.com
    Website: meanaraptor.com

    Disclaimer: This press release is provided by the Meana Raptor. 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.

    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/88029e88-66f8-4b3c-ab8d-24d55574daa1

    The MIL Network

  • MIL-OSI United Kingdom: Spring uplift to Strand Quay in Rye in time for Easter

    Source: United Kingdom – Executive Government & Departments

    Press release

    Spring uplift to Strand Quay in Rye in time for Easter

    New floating pontoon with improved moorings for boaters created, increasing accessibility for all boat users.

    New floating pontoons at Strand Quay in Rye

    As the recent fine spring weather brings boaters and visitors alike to the historic port of Rye, a welcome facelift to local facilities awaits them.

    The Environment Agency, the harbour authority, has invested in improvements to Strand Quay, built in the 1930s, to benefit boaters, visitors and the local community. The works will be formally unveiled at an opening ceremony on Thursday 17 April.

    A new floating pontoon and access ramp has been installed by the left bank of the quay, replacing old ladders, fenders and mooring rings, to improve safe accessibility for boaters.

    The slipway has also been repaired, the old timber jetty replaced, and repair works done to the walls and concrete capping, giving the whole quay area a fresh facelift in time for spring and the new boating season.

    And for those who want to while away a few hours down by the quay, what better way to enjoy it than to bring your boules and play a few games of pétanque on the recently refurbished ‘terrain’, which is free for anyone to enjoy?

    Charlotte Amor, waterways manager for the Environment Agency, said:

    I’m delighted and proud to see these improvements to Strand Quay being used by boaters and the local community. The quay is such a special place, and we hope this investment will help bring more visitors by boat to spend time and enjoy Rye and the beautiful surrounding area, and give a boost to the local economy

    James Bateman, Rye harbour master, said:

    Rye is a unique and fabulous location that attracts boaters from all over Europe as well as the UK. These new moorings and improved facilities will attract even more visitors each year to our town.

    The new ramp and floating pontoon also mean that all boaters, including those with impaired mobility, will be able to access the quay safely and easily. It’s a fantastic upgrade which will benefit our visitors for many years to come.

    As well as the new ramp and floating pontoon, the improvements at Strand Quay include upgrading and refurbishing 16 moorings with water and electric points so that 33 vessels up to 15 metres in length can moor safely. The slipway has also been upgraded and jetty which provides much needed access for fishing vessels to carry out maintenance.

    Boaters can moor on a permanent or temporary basis and can use the moorings as a ‘park and stay’ to visit Rye with its cobbled streets, historic buildings, independent shops, hotels, pubs and restaurants.

    Also nearby is Rye Harbour village with its distinctive Martello tower, built during the Napoleonic wars. Rye Harbour nature reserve, a site of special scientific interest offering scenic walks along the seashore, across fields and shingle, is also easily accessible.

    Background

    Moorings can be arranged from one day to 3 weeks. The cost of mooring fees and harbour dues help to operate and maintain Strand Quay and Rye Harbour.

    Boaters should arrange moorings in advance by contacting the harbour master at rye.harbour@environment-agency.gov.uk or by calling the Rye Harbour office on 01797 225225

    Rye Harbour navigation charges can be found at Rye Harbour charges – GOV.UK

    Tide tables are published at https://www.gov.uk/government/publications/rye-harbour-tide-times

    Contact us:

    Journalists only: 0800 141 2743 or communications_se@environment-agency.co.uk.

    Updates to this page

    Published 11 April 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: £450M surge of military support to boost Ukraine’s Armed Forces as UK and Germany chair meeting of 50 nations

    Source: United Kingdom – Government Statements

    Press release

    £450M surge of military support to boost Ukraine’s Armed Forces as UK and Germany chair meeting of 50 nations

    Package will support UK jobs and growth, with equipment and repair contracts connecting UK companies with Ukrainian industry

    The UK is surging rapid military support to Ukraine to put them in the strongest position to secure a lasting peace as partners meet in Brussels for the 27th Ukraine Defence Contact Group, chaired by the UK and Germany.

    The security of the UK and Europe starts in Ukraine, and a major new military support package will be delivered by British and Ukrainian suppliers to help boost Ukraine’s Armed Forces as they continue to defend against Russian attack. As chair of the meeting, the UK has secured ambitious pledges for Ukraine from donor countries.

    Today’s package, worth £450 million, includes £350 million from the UK from this year’s record £4.5 billion military support funding for Ukraine. Further funding is being provided by Norway, via the UK-led International Fund for Ukraine.

    The support package will be announced by Defence Secretary John Healey when he chairs the contact group alongside German Defence Minister Boris Pistorius later today, where 50 nations will come together to coordinate urgent military support for Ukraine.

    It will include £160 million of UK funding to provide repairs and maintenance to vehicles and equipment the UK has already provided to Ukraine – partnering UK companies with Ukrainian industry, supporting the UK economy and skilled jobs.

    Today’s support also includes a new ‘close fight’ military aid package – with funding for radar systems, anti-tank mines and hundreds of thousands of drones – worth more than £250 million, using funding from the UK and Norway. The package builds on the work of the drone capability coalition, led by the UK and Latvia.

    This will include high manoeuvrable first-person view (FPV) drones to attack targets, and drones which can drop explosives on Russian positions. These two types of drones are reported to be responsible for 60-70% of damage currently caused to Russian equipment.

    The new kit will be procured from a mixture of UK and Ukrainian suppliers, demonstrating how investment into Ukraine’s defence supports jobs and the economies of both the UK and Ukraine.

    The £160 million package for equipment repairs and maintenance will ensure vital armoured vehicles and other equipment can get back to the battlefield as quickly as possible. It will be implemented through the UK’s Taskforce HIRST, linking UK and Ukrainian companies to ensure repairs can be conducted in country to ensure that vital equipment is returned to the frontline as quickly as possible.

    The support provides opportunities for British companies to learn lessons from the battlefield and support the UK’s own industrial capabilities, an example of the UK-Ukraine 100-year partnership announced by the Prime Minister in action.

    Addressing the contact group, Defence Secretary John Healey MP will say:

    The work of the Ukraine Defence Contact Group is vital to put Ukraine in the strongest possible position and pile pressure on Putin to help force him to end this terrible war.

    We cannot jeopardise peace by forgetting the war, which is why today’s major package will surge support to Ukraine’s frontline fight.

    2025 is the critical year for Ukraine. Our job as defence ministers is to put into the hands of the Ukrainian war fighters what they need. We must step up to deter Russian aggression by continuing to bolster Ukraine’s defences.

    Yesterday, [Thursday] the Defence Secretary and his French counterpart, Minister Lecornu, chaired the first meeting of Coalition of the Willing defence ministers, bringing together 30 countries to progress planning for a reassurance force to support a lasting peace in Ukraine.

    The meeting followed a series of high-level meetings of leaders and defence chiefs in the last month to move forward with operational planning.

    This work delivers on the Prime Minister’s four-point plan to support Ukraine by ramping up delivery of weapons and equipment, boosting Ukraine’s defensive capabilities in the long term, working with allies to develop robust security assurances, and keeping up pressure on Putin.

    The UK is fully committed to working with allies to step up support to ensure Ukraine remains in the strongest possible position, which is why £4.5 billion of military support will be provided this year – more than ever before.

    As well as demonstrating leadership through the Ukraine Defence Contact Group and Coalition of the Willing, the UK is also contributing heavily to NATO’s Security Assistance and Training for Ukraine (NSATU) Command, which is coordinating further support for Ukraine in the form of training and providing more capabilities. Through the International Fund for Ukraine, the UK will manage the NSATU Trust Fund for rapid procurement – which Canada, Denmark and Iceland have already pledged funding towards, to meet Ukraine’s urgent equipment support and logistical needs.

    Updates to this page

    Published 11 April 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Qualifications: their role in society, reform and challenges

    Source: United Kingdom – Executive Government & Departments

    Speech

    Qualifications: their role in society, reform and challenges

    A speech by Catherine Large, Executive Director of Vocational and Technical Qualifications at Ofqual, to the Education and Training Federation spring conference.

    I’d like to talk to you about 3 key things this afternoon, which I hope are relevant and pertinent to your work.

    Firstly, I’d like to zoom out and talk about the role of qualifications in society. This situates why Ofqual regulates in the way that we do, and how we work together with other actors in the system.

    Next, I’ll look at qualification reform, why it happens and what it means, taking a look at the current developments we’re working on and considering any potential change on the horizon. In this context I’ll reflect on the Curriculum and Assessment Review’s interim report, published yesterday. I’ll consider the introduction of the new qualifications coming in this September as a consequence of the Post-16 Qualifications Review. I will also cover the changes to Apprenticeship assessment, recently announced.

    And finally, I will zoom in and look at some particular challenges and risks we might anticipate in the delivery of qualifications this spring and summer, which I think we all need to work together to mitigate.

    The role of qualifications in society

    Academic Patricia Broadfoot has described the English assessment system as a social construct with 4 purposes. Firstly, certifying achievement of competence to a certain standard, rooted in the history of craftsmanship. Secondly, providing a selection process for further progression based on educational attainment. Thirdly, as a policy tool for directing curriculum priorities. And fourthly, to provide a mechanism for accountability for teachers and school leaders.

    Qualifications serve as a vital currency therefore in the particular culture we live in. In some of these contexts the stakes are very high for those involved. This is why qualifications must accurately reflect what students know, understand and can do at the time of assessment.

    There are important conversations to have about why the stakes are high and whether they might be lowered – this is outside Ofqual’s control. The reliability of regulated qualifications underpins the trust that students, employers and society place in our education system, and fairness, as we all know, is paramount.

    Roles and responsibilities

    It is perhaps helpful to briefly set out the roles and responsibilities of the different actors within this eco-system, so you can see how we all fit together. The Department for Education sets curriculum including the subject content for GCSEs and A levels. It is the DfE that decides which qualifications to fund. It also sets accountability requirements, which affect the importance of the results of qualifications for schools and colleges.

    IfATE, working with employers, sets occupational standards. These underpin the subject content for T Levels, and form the basis of Higher Technical Qualifications, Level 3 Technical Qualifications and Apprenticeships. Skills England will likely take over responsibility for these occupational standards in due course, ensuring they remain up-to-date and that new occupational standards are developed to support areas of the economy where new types of skills are needed. It is vital that we have an agency of government responsible for understanding what employers need both nationally and locally, for collecting labour market intelligence, and for using it to inform and shape the qualifications and training needed in the future.

    Ofqual is a non-ministerial government department which regulates Awarding Organisations in England. We see our role as steward of the qualifications system. We take long-term, proactive regulatory decisions for the benefit of students, society and the economy. We work with others in the system to safeguard the value of qualifications – we recognise that our role is only one part of it.

    We have a set of rules called the General Conditions of Recognition, to which we hold Awarding Organisations to account. We also set specific additional rules if necessary, such as where qualifications have a particular risk profile, such as being used for progression or used in accountability measures. A levels, GCSEs, and T Levels fall into this category.

    Ofqual does not of course regulate training providers, colleges or schools, but our rules guide how awarding organisations interact with you. It is our job to hold them to account for the work that they do. I know you are working every day to ensure that students receive a high-quality education and are appropriately prepared for their assessments. And I know you are ably supported in this by initiatives such as those run by the Education and Training Foundation, such as the Industry Insights programme for T Levels and the Apprenticeship Workforce Development Programme.

    I hope this brief overview of how the qualifications system works helps put what I am saying today in context.

    Qualification reform

    Moving on then, to consider qualifications reform and the changes the system is going through. So firstly, what do we all mean when we talk about qualification reform? We know that there is a lot of it about. Qualification reform is a government-initiated programme of education sector improvement, with a particular type of qualification as its centrepiece, acting as the driving point for change. These programmes tend to focus on a category, or type, of qualification that then has a sub-set of individual qualifications as part of it. We have seen a lot of qualification reform in the post-16 vocational part of the education system in recent decades because, as there is no national curriculum post-16, it is a key mechanism for generating change. The content of the qualification, essentially, really matters. The introduction of GNVQs in the 1990s, and the 14 to 19 Diploma in the 2000s, for example, were important to governments seeking to persuade students to carry on learning post-16, and the qualification specification was the key location for putting engaging content.

    By reforming a set of qualifications, government is seeking to change a significant proportion of what the cohort of learners are studying and what teachers are teaching, because it is assumed that this will be the impact that changing those qualifications will have. I’m interested in your views on the effectiveness of using qualification reform as a strategy for educational change in this way. At Ofqual, we would argue that it is absolutely crucial that changes to assessment are considered alongside developments to curriculum and pedagogy. This is why the Industry Insights programme is so important, because it is helping to embed T Levels, as a new set of qualifications, through investment in curriculum and pedagogy as well.

    Ofqual’s programme of research into CASLO qualifications – those that confirm the acquisition of specified learning outcomes – published in November, looks back at the history of the reforms to vocational and technical qualifications over the last 40 years and considers lessons that might be learned from them. The intersection between assessment, curriculum and pedagogy is one of the key reflections made – do check out report 9 from this series if you are interested in what our Research Chair, Paul Newton, has to say on this subject. I recommend you check out report 4, on the history, as well.

    Let’s now turn our attention to the current set of initiatives and the steps being taken to ensure qualifications meet the needs of today’s learners.

    Curriculum and Assessment Review

    Yesterday, as you will have no doubt seen, the panel that formed the independent Curriculum and Assessment review published its interim report. I highly recommend you have a close read of it if you haven’t already. The panel has had the unenviable task of looking across the whole sweep of the education system, and identify in this report its key areas of future focus. They set out clearly that the educational offer for 16 to 19-year-olds is an important priority. They acknowledge that, while T Levels have had teething problems, they are here to stay. They also identify the need to think carefully about pathways for those unable to access A levels and T Levels, acknowledging the particular learning needs of this part of the cohort. They also identify the need to develop strong occupational pathways at level 2, and they commit to looking at how to strengthen progression routes from level 2 to level 3. They also prioritise how best to ensure that learners who did not achieve the required standard in English and maths are best supported to do so by the age of 18.  These commitments will shape future policy developments and I’m sure will be of real interest to many in this room.

    Qualifications Review

    In terms of immediate next steps on the post-16 landscape, as you all know, the Department for Education has been reviewing post-16 qualifications at Level 3 and below, including in the context of introducing T Levels. The outcome of the Rapid Review, announced in December, indicates that, while the Curriculum and Assessment Review is in train, DfE will look to fund a balanced mix of qualifications that meet students’ needs.

    This September, we will see the first teaching of several new qualifications, including the new T Level in Marketing, as well as some of the new Alternative Academic Qualifications, such as the Pearson level 3 BTEC National in early childhood development, and Technical Qualifications, such as the NCFE level 3 Technical Occupational Entry in cyber security. Ofqual will ensure that these qualifications reach the expected standards of quality and reliability under our regulatory scrutiny.

    I want to highlight some key features of the new AAQs and how they differ from the applied generals that many of you will be familiar with. AAQs are available in fewer sizes than applied generals in terms of their guided learning hours – the first wave will be smaller qualifications of 150 to 420 guided learning hours, designed, like the smaller applied generals, to be taken alongside A levels. The plan was that from September 2026, larger ones of 720 to 1,080 guided learning hours would then be made available, however future policy is now being considered as part of the Curriculum and Assessment Review.

    The smaller AAQs differ from applied generals in that there is less scope to move between sizes of a given qualification should a student’s original intentions change. Please make sure that you are aware of which qualifications your college or training provider is using and the rules around nesting so you can advise students appropriately on their options. The new AAQs have the same minimum requirement for external assessment as applied generals at 40%.

    Apprenticeships

    Moving now on to developments in apprenticeships. In February, at part of National Apprenticeships Week, the DfE announced changes to apprenticeship assessment, which will take effect in the coming months. These changes include the introduction of new assessment principles and a reduction in the minimum duration of apprenticeships where that makes sense for a given industry or where an individual has significant prior learning. Additionally, apprentices aged 19 and over will no longer need to hold or achieve English and maths qualifications to pass their apprenticeship, while this requirement remains in place for younger apprentices to support their career progression. The goal is to facilitate proportionate and flexible assessments and to enable faster certification of occupational competence where appropriate.

    Ofqual is committed to ensuring that these reforms are implemented in a way that safeguards the quality and value of qualifications for employers and apprentices, and for the wider benefit of society. To this end, we are working closely with the Department for Education and IfATE (and in due course Skills England) to review our regulatory framework for apprenticeship assessment. We will be launching a public consultation on these changes soon. This is in line with the work that IfATE are doing to streamline apprenticeship assessment plans, which are held in Ofqual’s regulations. Together, we are dedicated to ensuring that our apprenticeship system remains robust, fair, and aligned with the needs of employers.

    Working together on delivery

    With these future directions in mind, let’s now zoom in to focus on the measures Ofqual is taking to ensure the integrity of regulated qualifications in delivery, particularly in the face of new challenges and technological advancements.

    I want to firstly highlight the importance of parity of treatment for students taking Vocational and Technical Qualifications, which is a key focus for us at Ofqual. This means ensuring that VTQs are recognised as equally valuable qualifications for progression as GCSEs and A levels, and, importantly, that VTQ results are issued to students at the same time as GCSEs and A levels.

    We put a number of new measures in place in 2023 to underline this commitment to parity. These include a checkpoint – a deadline for colleges and training providers to tell their awarding organisations which students need to receive their qualification result on results day, because they will be used for progression. These measures also include asking all colleges and training providers to provide the awarding organisations with a senior designated contact who is available outside of term time in the run up to summer results in case of any issues. The new measures include an expectation that results for VTQs will be provided to colleges and training providers in advance of results days, to check and resolve any discrepancies. And alongside this, we will be continuing our work with AOs to encourage clear, timely and consistent communications with schools and colleges. This is all about ensuring that results are delivered on time for those who need them.

    New technology

    Another key aspect of qualification delivery is new technology. I’ll start with a word on artificial intelligence (AI). It’s the topic everyone is discussing. I think we’re all pretty settled on the tension between exciting opportunity and clear threats to things we value. That’s definitely true when it comes to qualifications. Right now, the key message is a simple one – that students’ work must be their own. It’s important that students have a clear understanding of the rules and are not using AI to cheat. The Joint Council for Qualifications has produced clear and important guidance on this issue, to inform schools’ and colleges’ policies on malpractice and use of AI.

    It may be helpful to clearly set out to students what constitutes cheating, particularly where they attempt to generate work to pass off as their own for assessment purposes. While this may seem obvious, this isn’t always well understood. It is also important that students are aware of the consequences of using AI to cheat. ​

    More broadly, Ofqual’s approach to the regulation of AI in qualifications is of course centred around protecting students, fairness and standards. In particular, our rules do not allow AI to be used as a sole marker for students’ work, which also applies where teachers are marking non-exam assessments. In line with other regulators, we published a policy statement outlining our position on the use of AI last year, which is available on gov.uk if you’d like further information.

    Turning now to the use of on-screen assessment. I know this also attracts a lot of attention and interest. I think our message here is simple too. Any increased use of technology in how qualifications are delivered must be implemented cautiously and with careful oversight. It is important that how students are assessed protects fairness, maintains standards and commands confidence for those that take, use and value qualifications. We hear consistently when visiting schools and colleges that this is what really matters – high stakes qualifications is not an area where we should move fast and break things. We proceed with caution with on-screen assessment therefore, acknowledging that developments are reliant on an appropriate digital infrastructure being in place across the whole education system. You will hear more from us on this soon.

    Cyber security

    Finally, in terms of delivery challenges, let’s address the critical issue of cyber security in the context of exams and assessments, which poses a real threat to the secure delivery of results. The cyber security of colleges and training providers is vital to ensure the integrity of exams and assessments – and ultimately to protect students. This includes managing the safe storage and distribution of exam materials.

    In 2024, Ofqual conducted a poll of teachers and discovered that 34% of colleges and schools in England experienced a cyber incident in the last academic year, underscoring the need for robust cyber security measures. We also found that one in 3 secondary teachers did not have cyber security training, and 42% reported using the same or similar passwords for multiple accounts. Many colleges and schools do take cyber security seriously, but poor cyber hygiene can be distressing for students if, for instance, coursework or assessment evidence is lost.

    Colleges and training providers should reflect on their contingency arrangements to consider practical matters. If you are a senior leader, you can support your exams officer by making sure that procedures are in place should systems go down. You should also consider how staff would access awarding organisation systems if the usual IT were unavailable. It would obviously be wise to back up non-exam assessment evidence and marks to prevent data loss in the event of a cyber-attack.

    All colleges and training providers should meet the DfE’s cyber security standards. Jisc has accessible training and cyber security advice available for member colleges. The Joint Council for Qualifications has also published guidance for colleges and schools on cyber security.

    Conclusion

    To conclude overall, therefore – as you will have gathered, the qualifications system is a complex, sophisticated eco-system which requires careful stewardship through risks, challenges and opportunities. This eco-system works because of the commitment, dedication and investment of everyone involved – teachers, parents and students, exams officers and invigilators, assessment experts, school and college leaders. It is used and relied on by many, and we all have our part to play in it.

    We will continue to see change in this part of the system – we have come to expect it, and changes in society, in politics, and with new technological developments, it is almost inevitable. I remain of the view, however, that those of us in the system who have been part of it for a long time must ensure that this change is well informed. We have a duty to provide evidence to policy makers, whether through research or other engagement mechanisms, about what works and what doesn’t work. We will continue to advise the Curriculum and Assessment Review panel so that they have appropriate input from assessment experts. We will continue with programmes of research like CASLO to deepen our collective knowledge and understanding of how vocational qualifications work, and so that future policy has a strong evidence base for change. And we will continue to work hard to steward the system through its delivery challenges appropriately.

    The system must continue to meet the needs of students and others who depend on it. I encourage you to all play your part.

    Thank you.

    Updates to this page

    Published 11 April 2025

    MIL OSI United Kingdom

  • MIL-OSI Europe: Ministers Burke and Dillon announce new measures to support the transport sector

    Source: Government of Ireland – Department of Jobs Enterprise and Innovation

    The Minister for Enterprise, Tourism and Employment, Peter Burke, has signed regulations making changes to the employment permits system to address skills shortages in Ireland’s transport sector. The quota for car mechanics will increase by 200, the quota for HGV and Bus mechanics by 200, and the quota for vehicle body builders and repairers has increased by 50. The changes came into effect on Monday, 7 April.

    Minister for Enterprise, Tourism and Employment, Peter Burke said:

    “I am pleased to announce that I have increased quotas for Car mechanics and HGV/Bus mechanics by 200 employment permits each and Vehicle body builders and repairers by 50 permits. Car mechanics play a vital role in ensuring that Ireland’s private car fleet is safe for all road users. HGV/Bus mechanics and Vehicle body builders and repairers are both necessary to support the extension of our public transport services including the BusConnects program, which aims to provide a significant expansion of routes and increased 24-hour operations for public transport. The planned transition to alternative power vehicles will also require access to skilled mechanics. Ensuring that there is a sufficient workforce to maintain these new vehicles will play a vital role in the delivery of this program.”

    Minister of State for Small Businesses and Retail, Alan Dillon said:

    “The increase to these quotas will help us to secure additional skilled workers to help deliver our ambitious public transport goals, as well as improving the roadworthiness of the private car fleet. This measure will help to ensure the safety and reliability of both public transport and the private car fleet and help to ensure that we meet our public transport goals.”

    Notes for editor

    The Employment Permits System

    Ireland’s policy is to promote the sourcing of labour and skills needs from within the workforce of Ireland, the European Union and other European Economic Area (EEA) states. Policy in relation to applications for employment permits remains focused on facilitating the recruitment from outside the EEA of skilled and highly skilled personnel, where the requisite skills cannot be met by normal recruitment or by training. Employment permit policy is part of the response to addressing skills deficits which exist and are likely to continue into the medium term, but it is not intended over the longer term to act as a substitute for meeting the challenge of up-skilling the State’s resident workforce, with an emphasis on the process of lifelong learning, and on maximising the potential of EEA nationals to fill our skills deficits.

    The Occupations Lists

    For the purposes of the employment permits system, occupations fall into three categories:

    1. Occupations listed on the Critical Skills Occupations List are highly skilled professional roles that are in high demand and are not always available in the resident labour force. Occupations on this list are eligible for a Critical Skills Employment Permit (CSEP) and include roles such as medicine, ICT, sciences, finance, and business.
    2. Occupations listed on the Ineligible Occupations List (IOL) are those with evidence suggesting there are sufficient Irish/EEA workers to fill such vacancies. Employment permits are not granted for these occupations. Some roles are removed from the IOL subject to quota, in order to sustainably integrate a new source of workers into the labour market and to test the labour market needs.
    3. Every other job in the labour market, where an employer cannot find a worker, is eligible for an employment permit. For these occupations, the employer is required to undertake a Labour Market Needs Test and if no-one suitable applies for the job, the employer is free to apply for an employment permit. Occupations such as these may be skills of a more general nature and are eligible for a General Employment Permit (GEP).

    ENDS

    MIL OSI Europe News

  • MIL-OSI United Kingdom: UK boosts support for a blue economy in the Philippines

    Source: United Kingdom – Executive Government & Departments

    World news story

    UK boosts support for a blue economy in the Philippines

    The UK launched the Climate and Ocean Adaptation and Sustainable Transition (COAST) programme, a key component of the UK’s £500 million Global Blue Planet Fund.

    In a panel discussion on blue economy and biodiversity, UK Foreign Secretary David Lammy announced that the UK’s COAST programme will be launched in the Philippines this year to support coastal communities. The programme aims to assist the Philippine government to deliver more sustainable small-scale fisheries and local aquaculture, support local livelihoods, protect vital ecosystems and promote sustainable growth within local blue economies.

    Foreign Secretary David Lammy stated:

    As fellow island nations, we have critical roles to play in the protection and restoration of marine ecosystems.

    The announcement coincides with the 5th year anniversary of the UK-Philippines Climate Change and Environment Dialogue, which has been instrumental in delivering shared priorities on climate, nature and biodiversity between the UK and the Philippine governments.

    His Majesty’s Ambassador to the Philippines Laure Beaufils shared:

    The UK is proud to support the Philippines unlock the potential of sustainable blue economy and catalyse blue finance to help coastal communities, especially the fisherfolk.

    Joining the panel discussion were Environment Secretary Toni Yulo-Loyzaga, Senator Loren Legarda, ASEAN Centre for Biodiversity Acting Executive Director Clarissa Arida and ADB Director General F. Cleo Kawawaki.

    Secretary Toni Yulo-Loyzaga said:

    The United Kingdom and the Philippines, for our similarities as blue and archipelagic nations, have long been committed to the conservation and protection of the ocean, one of the world’s shared heritages.

    Senator Loren Legarda said:

    There’s so much to be done, but the first step is breaking barriers to access. Only by equipping women with education, capital and innovation can we truly build a resilient and inclusive blue economy.

    The panellists underscored approaches to balance biodiversity protection and restoration with an expanding blue economy.

    The Foreign Secretary also announced the new ASEAN-UK Green Transition Fund EnCORE Wetlands Project – a £1.4m initiative in partnership with the ASEAN Centre for Biodiversity and Global Environment Centre.

    This project will develop evidence-based policies, tools, and technologies to restore and conserve these critical ecosystems, ensuring wetlands and peatlands continue to play a key role in climate mitigation.

    The project will begin with two model sites—Agusan Marsh Wildlife Sanctuary in the Philippines and Maludam National Park in Malaysia—which will serve as blueprints for wider regional action.

    Updates to this page

    Published 11 April 2025

    MIL OSI United Kingdom

  • MIL-OSI China: EU to pause retaliatory tariffs on US

    Source: China State Council Information Office

    The European Union said it will press the pause button on its retaliatory tariffs against the United States just a day after the bloc’s member states agreed on the first countermeasures against the US trade war and hours after US President Donald Trump announced a 90-day suspension of “reciprocal tariffs” on most for its trading partners.

    European Commission President Ursula von der Leyen said on Thursday that the commission took note of Trump’s announcement.

    “We want to give negotiations a chance. While finalizing the adoption of the EU countermeasures that saw strong support from our member states, we will put them on hold for 90 days,” she said on X. “If negotiations are not satisfactory, our countermeasures will kick in.”

    She expressed that preparatory work on further countermeasures continues, reiterating “all options remain on the table”.

    EU member states approved tariffs between 10-25 percent on a range of US imports such as almonds, orange juice, poultry, soybeans, steel and aluminum, tobacco and yachts — the bloc’s countermeasures against the 25 percent tariffs placed by the US on steel and aluminum imports from the EU.The tariffs were initially set to be rolled out in phases starting April 15, hitting a total of 21 billion euros ($23 billion) of US products, but are now paused.

    Hungary was the only one among 27 member states to vote against the retaliation. France, Italy and the Republic of Ireland have successfully lobbied to remove Kentucky bourbon whiskey from the hit list after Trump threatened that the US would impose a 200 percent tariff on wines and spirits from the EU if it is on the list.

    Observers noted that the list targets many Republican states in the US to inflict pain on Trump’s political base.

    “The EU considers US tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy,” the European Commission said in a statement on Wednesday.

    “Clear, predictable conditions are essential for trade and supply chains to function. Tariffs are taxes that only hurt businesses and consumers,” von der Leyen said in another post on X on Thursday.

    ‘Wrong signal’

    At the Thursday daily news briefing, European Commission spokesmen refused to answer when asked why the EU is pausing the countermeasures when the US has not paused its steel and aluminum tariffs, and whether the EU has been sending a wrong signal to Trump, who has been destroying the global trading system.

    Ding Chun, director of the Center for European Studies at Fudan University, said although the EU wants a negotiated settlement, it has also realized that retaliation measures are necessary to force the US to come to the negotiation table.

    “Europeans realize that if they show weakness to Trump, he will tighten up more,” Ding said.

    Ding said the EU has many tools, including the Anti-Coercion Instrument, or ACI, known as the trade “bazooka” or nuclear option, to hit back against US tech giants since the US has a trade surplus with the EU in services.

    Barry Andrews, a member of the European Parliament from Ireland, said it is difficult to figure out what the intentions are and who is making decisions in the US right now.

    “We don’t know if this is an overall attempt to overturn the international rules-based order, or something more short-term, more transactional,” he posted on X on Wednesday.

    Andrews noted that the EU has built many trade defense measures including the ACI to deal with the current situation. He added that the bloc should also look to diversify its trade.

    “What has happened in the last two months is a huge challenge to (the) Irish economy,” he said.

    MIL OSI China News

  • MIL-OSI: Gate.io Celebrates 12th Anniversary with a Major Brand Upgrade: Opening the Gateway to the Future of Crypto

    Source: GlobeNewswire (MIL-OSI)

    PANAMA CITY, April 11, 2025 (GLOBE NEWSWIRE) — Global leading cryptocurrency exchange Gate.io is marking a significant milestone—its 12th anniversary—by unveiling a comprehensive brand upgrade, including the debut of its new official Chinese name, “Damen” (大门, meaning “The Gate“). Under the theme “12 Years, One Gate, One World”, Gate.io reflects on its journey of growth and transformation, while embracing a bold new vision for the future, showcasing its ambition to build a more open, diverse, and innovative Web3 ecosystem for users worldwide.

    12 Years of Innovation: Establishing Prestigious Global Leadership

    Since its inception in 2013, Gate.io has emerged as a blockchain innovation powerhouse, offering reliable and versatile digital asset trading services. Today, Gate.io has grown into a top global leading crypto exchange, serving over 22 million users globally, consistently ranking among the top three exchanges by liquidity and ranking top 2 in 24-hour spot trading volume. The platform supports over 3,800 cryptocurrencies across spot trading, futures, leverage, and other financial products, offering a wide range of investment opportunities.

    Among the keystones cementing Gate.io’s dominance in crypto space, GateToken (GT), Gate.io’s native platform token, has been a cornerstone of its ecosystem since the launch of GateChain’s mainnet in 2019. GT reached an all-time high of $25.960, with a total market capitalization surpassing $2.94 billion, propelling its market rank into the global Top 40.

    Moreover, Gate.io’s established crypto financial ecosystem has also played a crucial role in driving industry transparency. As the first mainstream exchange to commit to 100% proof of reserves, it partnered with U.S. audit firm Armanino LLP, leveraging the Merkle Tree open-source framework for regular asset reserve disclosures. As of January 17, 2025, Gate.io’s total reserves exceeded $10 billion, ranking fourth globally, with an above-average reserve ratio of 128.58%, ensuring verifiability and security for user assets.

    Cross-Industry Partnerships: Expanding Web3’s Global Influence

    Gate.io is actively fostering cross-industry partnerships to elevate the crypto industry’s global reach. In 2024, Gate.io partnered with FC Internazionale Milano, or Inter, marking a new era of integration between crypto and traditional sports. As the Official Sleeve Partner for Inter, Gate.io’s brand images have been prominently featured at San Siro Stadium, Serie A, and UEFA Champions League matches. Through VIP events and joint activities, Gate.io is bringing crypto closer to football enthusiasts, building a global fan community, and exploring new possibilities for sports and digital assets.

    In the first quarter of 2025, Gate.io announced a landmark sponsorship deal with Oracle Red Bull Racing in Formula 1, becoming the team’s exclusive cryptocurrency exchange partner. As an eight-time F1 world champion, Oracle Red Bull Racing is synonymous with excellence and speed, a vision that aligns with Gate.io’s cutting-edge innovation in digital finance. This partnership is a strategic milestone, accelerating blockchain adoption and expanding Web3 solutions to a broader global audience.

    Strategic Brand Upgrade: Embracing A New Identity for the Future

    Over the past 12 years, Gate.io has witnessed the rapid evolution of the crypto industry and proactively adapted to market shifts. From a Bitcoin trading platform to a comprehensive blockchain ecosystem, Gate.io is now embracing its next evolution with the introduction of the new Chinese Name “Damen” (meaning “The Gate”). The new brand identity symbolizes openness, fairness, and innovation, reflecting Gate.io’s commitment to bridging the global crypto economy with cutting-edge technology and trusted financial infrastructure.

    More than just a name change, this brand evolution marks a strategic upgrade—shifting from a traditional exchange to a fully integrated Web3 ecosystem. Under this new vision, Gate.io is focused on enhancing user experience, driving technological innovation, and expanding decentralized finance solutions, making blockchain technology more accessible, secure, and intuitive for users worldwide.

    Commemorating 12 Years with Exclusive Events in Dubai

    To celebrate this milestone, Gate.io will host a series of flagship events in Dubai on April 29-30, 2025, to join hands with global users and industry partners. The 12th Anniversary Celebration is expected to attract over a thousand top global investors, blockchain entrepreneurs, project teams, and industry leaders, joining Gate.io in celebrating this significant occasion. Adding to the festivities, SPORT3 DUBAI 2025 will introduce a unique blend of sports and blockchain, creating a dynamic and engaging atmosphere for industry professionals to connect. Through this initiative, Gate.io aims to foster cross-industry collaboration, encourage meaningful dialogue, and drive innovation in blockchain-powered sports applications.

    Twelve years of trust, growth, and groundbreaking innovation have brought Gate.io to this defining moment. From the “Gateway to Crypto” over a decade ago to pioneering the next chapter of blockchain evolution, the platform remains committed to its mission. Standing at the crossroads of a new era, Gate.io embraces its new transformation, not just a rebrand, but as a renewed commitment to empowering users, advancing technology, and shaping the future of the blockchain ecosystem. As Gate.io unveils its next chapter, it continues to open the gateway to crypto for global users, bridging today’s world with the boundless possibilities of the crypto future.

    Media Contact:
    Elaine Wang at elaine.w@gate.io

    Disclaimer:

    The content herein does not constitute any offer, solicitation, or recommendation. Please note that virtual assets may depreciate in value fully or partially, and are susceptible to significant fluctuations. You should always seek independent professional advice before making any investment decisions. Please note Gate.io is not licensed or regulated by the Virtual Asset Regulatory Authority (VARA) and hence not permitted to conduct virtual asset related activities in/from Dubai. The products and/or services mentioned herein are only available to persons outside Dubai. Please be noted that Gate.io may restrict or prohibit the use of all or a portion of the Services from Restricted Locations. For more information, please read the User Agreement via https://www.gate.io/zh/user-agreement.

    Disclaimer: This press release is provided by Gate.io. 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.

    A photo accompanying this announcement is available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/084ebf10-5fe7-4c6c-ade0-aedac933fbf4

    The MIL Network

  • MIL-OSI Economics: Samsung India Empowers Women Leaders with SheLEADS: Fostering an Inclusive Future

    Source: Samsung

     
    At Samsung, empowering women in leadership is not just about representation but about driving meaningful impact. With this commitment, Samsung India has been fostering future women leaders through its flagship SheLEADS program—a dedicated leadership development initiative designed to equip women employees with the skills, confidence, and network to step into leadership roles.
     
    After the successful launch of SheLEADS last year, Samsung has now introduced SheLEADS 2.0, expanding the program to a new cohort of 16 high-potential women professionals across multiple functions. This 14-week leadership journey provides immersive learning experiences, mentorship from senior leaders, and opportunities to develop strategic decision-making and managerial skills.
     
    Building Women Leaders, One Step at a Time
    As a global technology leader, Samsung recognizes that workplaces that excel in crafting an inclusive environment also achieve stronger business outcomes—including enhanced employee engagement, talent retention, and overall financial success. SheLEADS 2.0 is a testament to this belief, ensuring that women at Samsung have access to leadership pathways and the support to break barriers.
     
    For participants, the program is not just about professional growth but also about building a community of women who uplift and inspire each other.
     
    “SheLEADS helped me to enhance my core leadership skills. Be it strategic thinking, assertive communication, effective decision making or negotiation but the biggest takeaway from SheLEADS has been the power of networking and shared experiences,” said RS Annapoorna, General Manager, Legal Management. “It’s empowering to be in a room full of talented women, all striving for excellence and breaking stereotypes in the corporate world.”
     
    Nurturing Talent across Diverse Functions
    This year’s cohort of SheLEADS 2.0 includes professionals from various business verticals such as legal, marketing, supply chain, product planning, and HR. Each participant brings unique expertise, contributing to a richer, more diverse leadership pipeline within Samsung.
     
    A Future of Inclusive Leadership
    Samsung is committed to fostering a work environment where employees, regardless of gender, can thrive, grow, and lead. The company continues to build a culture where women are supported at every stage of their careers, and SheLEADS is just one of the many steps toward this goal.
     
    As Rajni Chaudhry, Deputy General Manager, Supply Chain, Digital Appliances, puts it, “The whole program has been beautifully designed to equip the leadership competence to navigate through personal and professional environment. Overall, it has been an impactful, empowering and transformative experience.”
     
    With programs like SheLEADS, Samsung India is shaping the future of leadership—one that is diverse, dynamic, and truly inclusive.

    MIL OSI Economics

  • MIL-OSI: Notice to the Annual General Meeting of KH Group Plc

    Source: GlobeNewswire (MIL-OSI)

    KH Group Plc
    Stock Exchange Release 11 April 2025 at  10:00 am EEST

    Notice to the Annual General Meeting of KH Group Plc

    Notice is given to the shareholders of KH Group Plc (“KH Group” or the “Company”) to the Annual General Meeting to be held on Tuesday, 6 May 2025 at 2:00 p.m. EEST at Sanomatalo, Flik Event Studio Eliel, at the address Töölönlahdenkatu 2, 00100 Helsinki, Finland. The reception of attendees who have registered for the meeting and the distribution of voting tickets will commence at 1:30 p.m. EEST.

    Shareholders may also exercise their voting rights by voting in advance. Shareholders who have registered for the meeting may also follow the meeting via a live webcast. Further instructions for shareholders are provided in section C “Instructions for the participants in the Annual General Meeting” of this notice.

    In connection with the Annual General Meeting, coffee will be served at the meeting venue.

    A. Matters on the Agenda of the Annual General Meeting

    At the Annual General Meeting, the following matters shall be considered:

    1. Opening of the meeting

    2. Calling the meeting to order

    3. Election of persons to scrutinise the minutes and to supervise the counting of votes

    4. Recording the legality and quorum of the meeting

    5. Recording the attendance at the meeting and adopting the list of votes

    6. Presentation of the Financial Statements, the Board of Directors’ Report, the Auditor’s Report and the assurance report on the sustainability statement for the year 2024, and presentation of the CEO’s Review

    7. Adoption of the Financial Statements

    8. Resolution on the use of profit shown on the balance sheet and the payment of dividend

    The Board of Directors proposes to the General Meeting that no dividend be paid for the financial period ended 31 December 2024.

    9. Resolution on the discharge from liability of the members of the Board of Directors and the CEO

    10. Adoption of the Governing Bodies’ Remuneration Report

    11. Resolution on the remuneration of the members of the Board of Directors

    The Shareholders’ Nomination Board of KH Group proposes to the General Meeting that the remuneration of the Board of Directors remain unchanged, so that the Chairman of the Board of Directors be paid as remuneration EUR 3,550 per month and the other members of the Board of Directors each EUR 2,300 per month. The Nomination Board further proposes that the travel expenses of the members of the Board of Directors be compensated in accordance with the Company’s travel policy and that each of the members of the Board of Directors shall have the right to abstain from receiving remuneration.

    Earnings-related pension insurance contributions are paid voluntarily for the paid remuneration.

    12. Resolution on the number of members of the Board of Directors

    The Shareholders’ Nomination Board of KH Group proposes to the General Meeting that the number of members of the Board of Directors shall be six (6).

    13. Election of members of the Board of Directors

    The Shareholders’ Nomination Board of KH Group proposes to the General Meeting that the current members of the Board of Directors Juha Karttunen, Taru Narvanmaa and Jon Unnérus shall be re-elected as members of the Board of Directors and that Christoffer Landtman, Jari Rautjärvi and Carl Haglund shall be elected as a new members of the Board of Directors, for a term ending at the closing of the 2026 Annual General Meeting. Of the current Board members, Kati Kivimäki and Timo Mänty have indicated that they are not available for re-election.

    All persons nominated as members of the Board of Directors have given their consent to the election. The Nomination Board considers all the nominees to be independent of the Company and of the significant shareholders of the Company.

    According to the Articles of Association of KH Group, the Board of Directors elects a Chair from among its members.

    CVs, photographs and the evaluation regarding the independence of the proposed members of the Board of Directors are presented on the Company’s website at https://khgroup.com/en/investors/corporate-governance/general-meetings/annual-general-meeting-2025/

    14. Resolution on the remuneration of the auditor and the sustainability reporting assurance provider

    The Board of Directors proposes to the General Meeting that the remuneration of the auditor shall be paid according to the auditor’s reasonable invoice approved by the Company.

    The Board of Directors further proposes to the General Meeting that the remuneration of the sustainability reporting assurance provider shall be paid according to the sustainability reporting assurance provider’s reasonable invoice approved by the Company.

    15. Election of the auditor and the sustainability reporting assurance provider

    The Board of Directors proposes to the General Meeting that Ernst & Young Oy, Authorised Public Accountants, be re-elected as the Company’s auditor. Ernst & Young Oy has notified that Timo Eerola, APA, will act as the principally responsible auditor for the Company.

    The Board of Directors further proposes to the General Meeting that Ernst & Young Oy, Authorised Sustainability Audit Firm, be elected as the Company’s sustainability reporting assurance provider. Ernst & Young Oy has notified that Timo Eerola, ASA (Authorised Sustainability Auditor), will act as the principally responsible sustainability auditor for the Company.

    The term of the auditor and the sustainability reporting assurance provider ends at the closing of the Annual General Meeting following the election.

    16. Authorising the Board of Directors to decide on the issuance of shares and special rights entitling to shares

    The Board of Directors proposes to the General Meeting that the General Meeting authorise the Board of Directors to decide on the issuance of shares and/or the granting of special rights entitling to shares as referred to in Chapter 10, Section 1 of the Finnish Limited Liability Companies Act, in one or several instalments as follows: The total number of shares to be issued under the authorisation may be at the most 11,400,000 shares. The authorisation concerns both the issuance of new shares as well as the conveyance of shares held by the Company. The authorisation is proposed to be used to finance or carry out possible acquisitions or other arrangements or investments related to the Company’s business, to implement the Company’s incentive program, or for other purposes decided by the Board of Directors.

    The Board of Directors decides on all terms and conditions of a share issue and the issuance of special rights referred to in Chapter 10, Section 1 of the Finnish Limited Liability Companies Act, and the authorisation therefore includes the right of the Board of Directors to deviate from the shareholders’ pre-emptive subscription right (directed issue), the right to issue shares against consideration or without payment, and the right to decide on a free issuance of shares to the Company itself, however, taking into account the provisions of the Finnish Limited Liability Companies Act concerning the maximum number of own shares held by the Company.

    The authorisation is proposed to be effective until 30 June 2026, and it will cancel the corresponding authorisation given to the Board of Directors by the Annual General Meeting on 7 May 2024.

    17. Authorising the Board of Directors to decide on the repurchase of the Company’s own shares

    The Board of Directors proposes to the General Meeting that the General Meeting authorise the Board of Directors to decide to repurchase a maximum of 5,700,000 shares in the Company in one or several instalments by using funds in the Company’s unrestricted equity, however, taking into account the provisions of the Finnish Limited Liability Companies Act concerning the maximum number of own shares held by the Company. The Company’s own shares may be repurchased to be used as consideration in possible acquisitions or in other arrangements related to the Company’s business, to finance investments, as a part of the Company’s incentive program, to develop the Company’s capital structure as well as to be conveyed for other purposes, to be held by the Company or to be cancelled. The authorisation also includes the right to pledge the Company’s own shares.

    The Company’s own shares may be repurchased in public trading organized by Nasdaq Helsinki Ltd otherwise than in proportion to the shareholdings of the shareholders, at the market price at the time of repurchase. The shares will be repurchased and paid in accordance with the rules of Nasdaq Helsinki Ltd and Euroclear Finland Oy. The Board of Directors is in all other respects authorised to decide on the terms and conditions of the repurchase of own shares.

    The authorisation is proposed to be effective until 30 June 2026, and it will cancel the corresponding authorisation given to the Board of Directors by the Annual General Meeting on 7 May 2024.

    18. Closing of the meeting

    B. Documents of the Annual General Meeting

    The aforementioned proposals on the agenda of the General Meeting, this notice, the Governing Bodies’ Remuneration Report as well as the Annual Report, which includes the Financial Statements of the Company, the Board of Directors’ Report (including the sustainability report), the Auditor’s Report and the assurance report on the sustainability statement, are available on KH Group’s website at https://khgroup.com/en/investors/corporate-governance/general-meetings/annual-general-meeting-2025.

    The minutes of the General Meeting will be available on the aforementioned website on 20 May 2025, at the latest.

    C. Instructions for the participants in the Annual General Meeting

    1. Shareholder registered in the shareholders’ register

    Each shareholder who is registered on the record date of the General Meeting, on 23 April 2025, in the shareholders’ register of the Company maintained by Euroclear Finland Oy, has the right to participate in the General Meeting. A shareholder whose shares in the Company are registered on their personal Finnish book-entry account, is registered in the shareholders’ register of the Company.

    The registration to the General Meeting begins on 14 April 2025 at 10:00 a.m. EEST. A shareholder who is registered in the shareholders’ register of the Company and who wants to participate in the General Meeting, shall register no later than on 28 April 2025 at 4:00 p.m. EEST, by which time the registration must be received.

    Registration can be done:

    a)   Through the Company’s website at https://khgroup.com/en/investors/corporate-governance/general-meetings/annual-general-meeting-2025/

    In the electronic registration, a strong identification of the shareholder or their proxy representative or legal representative is required with Finnish, Swedish or Danish banking codes or a mobile ID.

    b)   By email or mail to Innovatics Ltd to the address agm@innovatics.fi, to the address Innovatics Ltd, AGM / KH Group Plc, Ratamestarinkatu 13 A, FI-00520 Helsinki, Finland.

    Shareholders registering by email or mail shall submit the registration form and possible advance voting form available on the Company’s website https://khgroup.com/en/investors/corporate-governance/general-meetings/annual-general-meeting-2025 or corresponding information in the message.

    In connection with the registration, a shareholder shall provide the requested information, such as their name, date of birth or business ID, phone number and/or email address as well as the name of assistant or a proxy representative, if any, date of birth of the proxy representative and their phone number and/or email address. The personal data given by the shareholders or the representatives to KH Group or Innovatics Ltd is used only in connection with the Annual General Meeting and with the processing of necessary related registrations.

    The shareholder, legal representative or their proxy representative shall, if necessary, be able to prove their identity and/or right of representation at the meeting venue.

    Additional information on registration and advance voting is available by phone during the registration period of the General Meeting at Innovatics Ltd’s phone number +358 (0)10 2818 909 from Monday to Friday at 9:00 a.m. to 12 noon and at 1:00 p.m. to 4:00 p.m. EEST.

    2. Proxy representative and powers of attorney

    A shareholder may participate in the General Meeting and exercise their rights at the meeting by way of a proxy representative. The shareholder’s proxy presentative may also vote in advance as described in this notice. The proxy representative must identify him/herself to the electronic registration service and advance voting with strong identification, after which he/she will be able to register and vote in advance on behalf of the shareholder he/she represents. The shareholder’s proxy representative shall produce a dated proxy document or otherwise in a reliable manner demonstrate their right to represent the shareholder at the General Meeting. The representation right can be demonstrated by using the suomi.fi authorisation service available in the electronic registration service.

    A power of attorney template and voting instructions will be available on the Company’s website at https://khgroup.com/en/investors/corporate-governance/general-meetings/annual-general-meeting-2025 on 14 April 2025 at 10:00 a.m. EEST at the latest. If a shareholder participates in the General Meeting by means of several proxy representatives representing the shareholder with shares at different securities accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration.

    Possible proxy documents are requested to be delivered primarily as an attachment in connection with the electronic registration, or alternatively by email to agm@innovatics.fi or by mail to the address Innovatics Oy, AGM / KH Group Plc, Ratamestarinkatu 13 A, FI-00520 Helsinki, Finland before the expiry of the registration period. In addition to providing proxy documents, the shareholder or the proxy representative must register for the General Meeting as detailed above in this Notice.

    3. Holder of nominee registered share

    A holder of nominee registered shares has the right to participate in the General Meeting by virtue of such shares based on which he/she on the record date of the General Meeting, i.e., on 23 April 2025, would be entitled to be registered in the shareholders’ register of the Company maintained by Euroclear Finland Oy. The right to participate in the General Meeting requires, in addition, that the shareholder on the basis of such shares has been temporarily registered into the shareholders’ register of the Company maintained by Euroclear Finland Oy at the latest by 1 May 2025 at 10:00 a.m. EEST. As regards nominee registered shares, this constitutes due registration for the General Meeting. Changes in shareholding after the record date of the General Meeting do not affect the right to participate in the General Meeting or the number of votes of the shareholder.

    A holder of a nominee registered share is advised to request without delay the necessary instructions regarding the registration in the temporary shareholders’ register of the Company, the issuing of proxy documents, the registration and participating for the General Meeting and voting in advance from their custodian bank. The account management organisation of the custodian bank has to register a holder of a nominee registered share, who wants to participate in the General Meeting, temporarily into the shareholders’ register of the Company and if needed to see to the voting in advance on behalf of a holder of a nominee registered share before the expiry of the registration period for the holders of nominee registered shares.

    4. Advance voting

    A shareholder whose shares are registered on their personal Finnish book-entry account may vote in advance during the period from 14 April 2025 at 10:00 a.m. EEST until 28 April 2025 at 4:00 p.m. EEST on certain matters on the agenda of the General Meeting.

    Advance voting can be done in the following ways:

    a)   Through the Company’s website at https://khgroup.com/en/investors/corporate-governance/general-meetings/annual-general-meeting-2025/
           Logging in to the service is done in the same way as for registration above in the Section C.1.

    b)   By email or mail by delivering the advance voting form available on the Company’s website on 14 April 2025 at 10:00 a.m. EEST at the latest or corresponding information by email to agm@innovatics.fi or to the address Innovatics Ltd, AGM / KH Group Plc, Ratamestarinkatu 13 A, FI-00520 Helsinki, Finland. The advance votes shall be received before the expiry of the advance voting period. Submitting votes in such manner before the expiry of registration and advance voting period constitutes due registration for the General Meeting, provided that the documents delivered by the shareholder contain the information required for registration.

    A shareholder who has voted in advance can use their right to request information under the Finnish Companies Act or their right to request a vote at the General Meeting or vote on a possible counterproposal only if the shareholder participates in the General Meeting in person or by way of proxy representation at the meeting venue.

    An agenda item subject to advance voting is considered to have been presented unchanged to the General Meeting.

    The terms and conditions as well as other instructions related to the electronic advance voting are available on the Company’s website at https://khgroup.com/en/investors/corporate-governance/general-meetings/annual-general-meeting-2025/.

    5. Other instructions and information

    The meeting language will be Finnish.

    Pursuant to Chapter 5, Section 25 of the Finnish Limited Liability Companies Act, a shareholder who is present at the General Meeting has the right to request information with respect to the matters to be considered at the meeting.

    The Company will arrange an opportunity for shareholders who have registered for the meeting to follow the meeting online via a live webcast. A video link and password to follow the meeting remotely will be sent via email and text message to the email address and mobile phone number provided in connection with the registration. Following the meeting through the remote access is only possible for shareholders who are shareholders on the record date of the General Meeting.

    Detailed instructions on following the webcast will be available on the Company’s website at https://khgroup.com/en/investors/corporate-governance/general-meetings/annual-general-meeting-2025/. Shareholders are asked to take into account that following the meeting via webcast is not considered participating in the Annual General Meeting, and that it is not possible for the shareholders to exercise their shareholder rights in the Annual General Meeting through the webcast. Shareholders that wish to follow the webcast can exercise their voting rights by voting on the matter on the agenda in advance in accordance with the instructions provided above.

    On the date of this notice, the total number of shares and votes in KH Group is 58,078,895.

    No free parking has been arranged at the meeting venue.

    Helsinki, 10 April 2025

    KH GROUP PLC
    Board of Directors

    FURTHER INFORMATION:
    CEO Ville Nikulainen, tel. +358 400 459 343

    DISTRIBUTION:
    Nasdaq Helsinki Ltd
    Main media
    www.khgroup.com

    KH Group Plc is a Nordic conglomerate operating in the business areas of KH-Koneet, Nordic Rescue Group and Indoor Group. We are a leading supplier of construction and earth-moving equipment, rescue vehicle manufacturer as well as furniture and interior decoration retailer. The objective of our strategy is to create an industrial group around the business of KH-Koneet. KH Group’s share is listed on Nasdaq Helsinki.

    The MIL Network

  • MIL-OSI: Bitget Wallet Launches Contract Risk Detection Tool to Strengthen Security

    Source: GlobeNewswire (MIL-OSI)

    SAN SALVADOR, El Salvador, April 11, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has introduced the token contract risk detection feature to strengthen transaction security across its platform. The feature enables users to screen for potential risks before engaging with tokens, reflecting Bitget Wallet’s continued commitment to user protection and transparency in decentralized finance.

    The feature is now available for tokens on six major blockchains including Ethereum, Solana, BNB Chain, Base, Polygon, and Arbitrum. Accessible directly within the token candlestick chart interface, users can review essential contract data, including permission status, token distribution among top holders, and burn ratios. These indicators help identify potential vulnerabilities such as excessive centralization or active minting permissions, which may signal higher risk.

    As onchain participation increases and interest in long-tail assets grows, users are navigating an increasingly fragmented and complex token landscape. Without reliable data, it becomes challenging to assess token credibility and contract behavior. According to the Onchain Report, 37% of users cite security risks as their top concern when using crypto for payments or transfers, highlighting the demand for accessible tools that address these challenges. The launch of Bitget Wallet’s detection tool aims to bridge this gap with greater clarity and control.

    The new tool complements Bitget Wallet’s broader security framework, which includes MEV protection by default, onchain transaction simulation, and integrated threat detection. Together, these measures form a comprehensive protection system designed to minimize user exposure to malicious contracts and trading vulnerabilities.

    As DeFi adoption accelerates, providing users with accessible tools to evaluate risk is no longer optional — it’s essential,” said Alvin Kan, COO of Bitget Wallet. “This feature is part of our broader strategy to empower users with the information they need to navigate Web3 safely and confidently.”

    About Bitget Wallet
    Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser and crypto payment solutions. Supporting over 130 blockchains, 20,000+ DApps, and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users’ assets.

    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook

    For media inquiries, please contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5e0577b2-31b5-4adc-9dbd-da552ed64f8e

    The MIL Network

  • MIL-OSI: Trifork secures landmark project to transform Oman’s healthcare system

    Source: GlobeNewswire (MIL-OSI)

    Press release

    Trifork secures landmark project to transform Oman’s healthcare system

    Muscat, 11 April 2025 – The Ministry of Health in Oman has selected Trifork to develop a state-of-the-art Revenue Cycle Management (RCM) system while integrating with the National Health Information Exchange (NHER), which in parallel will be upgraded by Trifork during the project. This project represents a significant milestone in modernizing Oman’s healthcare system in alignment with Oman Vision 2040.

    After a competitive bidding process involving six contenders, Trifork was selected for its more than 20 years of expertise in Digital Health, which has been demonstrated through successful projects in Switzerland and Denmark and its strong international profile.

    Strengthening Oman’s healthcare system

    The project aims to upgrade Oman’s healthcare systems. The benefits of the new system include improved cost recovery, allowing government providers to reclaim insurance companies’ expenses more efficiently, faster claims processing, and reduced waiting times for patients at Ministry of Health facilities, which are key steps toward a more patient-focused healthcare experience.

    Key phases and deliverables

    The project is structured into phases, with gradual implementation over two years. The initial proof of concept will be completed in six months, followed by a gradual implementation of core functionalities, ensuring that the benefits of the solutions are implemented as soon as possible.

    These milestones align with the Ministry of Health’s digitalization strategy, which focuses on enhancing healthcare efficiency, data-driven decision-making, and seamless patient care through advanced technology. They also support Oman Vision 2040’s broader goals of leveraging digital transformation to improve public services, strengthen healthcare infrastructure, and drive sustainable national development.

    Strategic partnership

    Trifork Oman brings invaluable expertise from similar engagements across Europe to the project. By integrating advanced solutions and leveraging global best practices, the company will deliver a tailored system that meets the unique needs of Oman’s healthcare ecosystem.

    The Ministry of Health in Oman oversees 263 health institutions, including 50 hospitals (4,954 beds), 21 health complexes, and 192 health centers. In 2022, they recorded 14.9 million outpatient visits – about 41,000 daily. Serving over 5 million people, the ministry prioritizes accessible, high-quality care and advances digital transformation under Oman’s Vision 2040.

    Commitment to innovation in Oman

    “This contract represents a major milestone for Trifork Oman in our ambition to contribute to the Sultanate’s goals for digital transformation and innovation. We are honored to use our strong expertise in digital health to contribute to the ongoing innovation in Oman’s healthcare sector and see this as the start of a long partnership,” says Christian Hemmingsen, CEO of Trifork Oman.

    Investor and media contact

    Frederik Svanholm
    Group Investment Director, Head of IR & PR
    frsv@trifork.com, +41 79 357 7317


    About Trifork

    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

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    The MIL Network

  • MIL-Evening Report: Peter Dutton’s climate policy backslide threatens Australia’s clout in the Pacific – right when we need it most

    Source: The Conversation (Au and NZ) – By Wesley Morgan, Research Associate, Institute for Climate Risk and Response, UNSW Sydney

    Australia’s relationship with its regional neighbours could be in doubt under a Coalition government after two Pacific leaders challenged Opposition Leader Peter Dutton over his weak climate stance.

    This week, Palau’s president Surangel Whipps Jr suggested a 2015 gaffe by Dutton, in which he joked about rising seas lapping at the door of Pacific islanders, had not been forgotten. Speaking at a clean energy conference in Sydney, Whipps said the Pacific’s plight was “not a metaphor or a punchline. It’s our fear and reality.”

    And Tuvalu’s Climate Change Minister, Maina Talia, this month criticised Dutton for suggesting a joint Australia–Pacific bid to host global climate talks next year was “madness”. Talia said Dutton’s comments caused Pacific leaders to “question the nature of our friendship” with Australia.

    Both Labor and Coalition governments have worked hard this decade to cement Australia as a security partner of choice for Pacific nations, as China seeks to expand its influence. Australia’s next government must continue this work by signalling an unwavering commitment to strong climate action.

    What are the major parties offering on climate policy?

    Worsening climate change – with associated sea-level rise and other harms – is the greatest threat to Pacific island nations.

    Pacific leaders have long criticised Australia for its climate policy shortcomings, including its continued reliance on fossil fuels. As Palau’s president Whipps told the ABC this week:

    We are urging Australia – and whoever forms the next government – to take the next steps and stop approving new fossil fuel projects and accelerate the phase-out of coal and gas.

    The Labor government has not agreed to the phase-out. But it has sought to improve Pacific ties through more ambitious climate action.

    In 2022, it introduced a stronger emissions-reduction target – a 43% cut this decade, based on 2005 levels. The same year, Prime Minister Anthony Albanese joined Pacific leaders to declare a climate emergency.

    In 2023, Australia signed a climate migration deal with Tuvalu. It also prevents Tuvalu from pursuing a security deal with China.

    A Coalition government would review Australia’s 43% cut to emissions. It would also expand gas production, and slow the shift to renewables while building seven nuclear reactors. Dutton is also considering weakening Australia’s signature climate policy, the safeguard mechanism, which aims to reduce industry emissions.

    And last month, Dutton suggested the Coalition would ditch the Australia–Pacific bid to host the next United Nations climate summit, known as COP31.

    How will this go down in the Pacific?

    Australia has dramatically stepped up engagement with Pacific island countries in recent years. This has been guided by the foreign policy goal of integrating Pacific countries into Australia’s economy and security institutions.

    But Pacific island leaders also expect Australia – the largest member of the Pacific Islands Forum – to seriously tackle the climate crisis. Should Australia fail on this measure, securing our place in the region during a time of growing strategic competition will become increasingly difficult.

    Pacific leaders welcomed Australia’s plans to host the COP31 climate talks and agreed to work with this nation on the joint bid. If Dutton wins power and abandons the COP31 push, he could face a frosty reception when he meets with Pacific island leaders.

    Palau, in particular, could embarrass Dutton on the global stage. It will host the Pacific Islands Forum meeting next year, weeks before the COP31 talks. This year, Palau also takes over as chair of the Alliance of Small Island States, an important negotiating bloc in global climate talks.

    Countering China’s influence

    Australia’s leadership in the Pacific is considered key to our national defence and security. But China’s growing power in the Pacific has weakened Australia’s standing.

    In 2022, for example, Solomon Islands signed a security deal with China to allow naval vessels to be based there – effectively allowing a Chinese military base on Australia’s doorstep. As recently as February this year, the Cook Islands signed a series of agreements with China to enhance cooperation.

    At the same time, the Trump administration has all but abandoned the United States’ overseas aid program. This leaves Australia with even more work to counter China’s creep into the region.

    In last month’s federal budget, Labor redirected aid money to the Pacific to counteract Trump’s cuts. However, Liberal backbenchers reportedly fear Dutton would cut the foreign aid budget and warn a reduction in Pacific aid would strengthen Beijing’s hand.

    Climate policy is key to Australia-Pacific goodwill

    Australia’s past failures on climate policy have hurt our standing in the Pacific – a point conceded by senior Coalition figure Simon Birmingham.

    A Coalition government is likely to continue some diplomatic measures initiated by the Albanese government, such as security agreements with Tuvalu and Nauru, and negotiating a new defence treaty with Papua New Guinea.

    But the depth of feeling among Pacific leaders on climate action cannot be overstated. As global geopolitical tensions sharpen, Australia’s next moves on climate policy will be vital to the future of our Pacific relationship.

    Wesley Morgan is a fellow with the Climate Council of Australia

    ref. Peter Dutton’s climate policy backslide threatens Australia’s clout in the Pacific – right when we need it most – https://theconversation.com/peter-duttons-climate-policy-backslide-threatens-australias-clout-in-the-pacific-right-when-we-need-it-most-254385

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Coalition plan to dump fuel efficiency penalties would make Australia a global outlier

    Source: The Conversation (Au and NZ) – By Anna Mortimore, Lecturer, Griffith Business School, Griffith University

    The Coalition has announced it would, if elected to government, weaken a scheme aimed at cutting car emissions.

    The scheme, known as the New Vehicle Efficiency Standard (NVES), was introduced by the Albanese government and was due to take effect in July. It involved issuing penalties to automakers that breach an emissions ceiling on their total new car sales.

    The new Coalition plan, announced this week, would see such penalties abolished.

    But the penalties are crucial. Without penalties, automakers have limited incentive to supply fuel efficient, low or zero-CO₂ emitting vehicles to the Australian market.

    If this plan became government policy, it would make Australia an international outlier – and put at risk Australia’s ability to meet its obligations under the Paris climate agreement.

    An international outlier

    More than 85% of the international car market is covered by fuel efficiency standards.

    Without a robust New Vehicle Efficiency Standard scheme, complete with penalties for automakers that break the rules, Australia would join Russia in the tiny minority of developed countries without strong fuel efficiency standards for new vehicles.

    Abolishing the penalties embedded in the scheme also risks making Australia the world’s dumping ground for inefficient vehicles.

    That’s because the penalties embedded in the scheme are there to incentivise automakers to sell more efficient vehicles in Australia.

    The current scheme, as it is, is not particularly punitive. Automakers that breach their cap of emissions are given up to two years to fix their mistakes before being issued with a financial penalty.

    Weakening the scheme won’t help make it easier for Australians to buy fuel-efficient cars.

    Decarbonising Australian roads

    The 2015 Paris Agreement, to which Australia is a signatory, requires developed nations to decarbonise their transport by as much as 80% by 2050.

    Carbon emissions from Australian transport accounts for 21.1% of the nation’s emissions (to June 2023).

    It represents the third largest source of greenhouse gas emissions in Australia.

    Without measures aimed at making cars more fuel efficient, Australia’s CO₂ emissions will continue to rise. It will be harder to meet our commitments under the Paris Agreement.

    It’s regulation, not a tax

    The Coalition, which is hoping to pick up votes in outer-ring suburbs, has called the penalties embedded in the New Vehicle Efficiency Standard scheme a “car tax”.

    Liberal leader Peter Dutton said this week:

    This is a tax on families who need a reliable car and small businesses trying to grow. Instead of making life easier, Labor is making it harder and more expensive […] We want cleaner, cheaper cars on Australian roads as we head towards net zero by 2050, but forcing unfair penalties on carmakers and consumers is not the answer.

    But these penalties are not a tax; they are a form of regulation. Automakers that meet the rules wouldn’t have to pay penalties, under the current scheme.

    If the goal is to reduce people’s hip-pocket pain at the bowser, the focus should be on ensuring Australians can buy fuel-efficient vehicles.

    That means incentivising automakers to bring fuel-efficient vehicles to the Australian market. It also means avoiding any policy that encourages carmakers to see Australia as a dumping ground for gas-guzzling vehicles.

    Anna Mortimore receives funding from Reliable Affordable Clean Energy Cooperative Research Centre for 2030 (RACE for 2030).

    ref. Coalition plan to dump fuel efficiency penalties would make Australia a global outlier – https://theconversation.com/coalition-plan-to-dump-fuel-efficiency-penalties-would-make-australia-a-global-outlier-254386

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: RUBIS: Rubis announces crossing of shareholding statutory threshold

    Source: GlobeNewswire (MIL-OSI)

    Paris, 11 April 2025, 7:30am

    Rubis announces that it received a statutory threshold notification informing the Company that, on 7 and 8 April 2025, the Concert Molis(1) has crossed the 6%, 7%, 8% and 9% statutory thresholds of Rubis’ ordinary shares and voting rights(2) and Compagnie nationale de navigation standalone has crossed the 6%, 7%, 8% and 9% statutory thresholds of Rubis’ ordinary shares, and the 6%, 7% and 8% thresholds of Rubis’ voting rights. As of 8 April 2025, Compagnie nationale de navigation holds 9.06% of the ordinary shares and 8.87% of voting rights of Rubis. The Concert Molis holds 9.37% of the ordinary shares and 9.18% of voting rights of Rubis.

    These threshold crossings result from the acquisition of 743,040 shares on the market and 3,384,860 shares off-market, along with the corresponding voting rights of the Company for the purposes of and in connection with a forward financial contract that Compagnie nationale de navigation entered into with a counterparty bank on 8 April 2025, to finance the acquisition of said shares. The transaction involves a series of call and put options with the counterparty bank, which are set to expire between 1 November 2027 and 18 September 2028.

    (1)  Concert Molis is composed of Compagnie nationale de navigation, Patrick Molis, Jade Molis, Agathe Molis, Victoire Molis and Charles Gravatte.
    (2)  On the basis of the number of ordinary shares and voting of Rubis published on 7 April 2025.

    Press Contact Analyst Contact
    RUBIS – Communication Department RUBIS – Clémence Mignot-Dupeyrot, Head of IR
    Tel: +33 (0)1 44 17 95 95

    presse@rubis.fr

    Tel: +33 (0)1 45 01 87 44

    investors@rubis.fr

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    The MIL Network

  • MIL-OSI: Tryg A/S – Interim report Q1 2025

    Source: GlobeNewswire (MIL-OSI)

     Tryg’s Supervisory Board has today approved the interim report Q1 2025.

    Tryg reported an insurance service result of DKK 1,540m (DKK 1,280m) and a combined ratio of 84.2% (86.6%) in Q1 2025. The higher insurance service result was supported by a growth of 3.7% in local currencies, a benign level of weather claims, and a continued underlying profitability improvement. The investment result was robust at DKK 320m (DKK 112m). Pre-tax profit was DKK 1,491m (DKK 1,007m) and profit after tax was DKK 1,118m (DKK 776m). Ordinary dividend of DKK 2.05 (DKK 1.95) per share for the quarter, is an increase of more than 5% from last year. The reported solvency ratio at the end of Q1 2025 was 195%, supporting future shareholder remuneration. Tryg launched a DKK 2bn buyback on 4 December 2024, of which some DKK 1.3bn has been bought back at the end of Q1.

    Financial highlights Q1 2025

    • Insurance revenue growth of 3.7% in local currencies (4.8%)
    • Insurance service result of DKK 1,540m (DKK 1,280m)
    • Combined ratio of 84.2% (86.6%)
    • Expense ratio of 13.3% (13.5%)
    • Investment result of DKK 320m (DKK 112m)
    • Profit before tax of DKK 1,491m (DKK 1,007m)
    • Ordinary dividend of DKK 2.05 (DKK 1.95) per share and solvency ratio of 195%

     Customer highlights Q1 2025

    • Customer satisfaction score of 82 (81)

    Statement by Group CEO Johan Kirstein Brammer:
    We have had a good start in executing our 2027 strategy, and I am pleased that we are delivering a solid set of results for the first quarter of the year. We have helped customers with more than half a million claims and paid out more than DKK 6.6 billion in disbursements, while managing to improve customer satisfaction. Especially, the implementation of an improved welcome flow for new customers and even faster claims handling is something that we see customers responding positively to. Meanwhile, the world around us has changed significantly both politically and macroeconomically, and therefore our financial robustness as an insurance company is more crucial than ever. Tryg Group must remain strong so that we can fulfill our obligations to our customers and shareholders.

    Conference call
    Tryg hosts a conference call today at 10:00 CET. CEO Johan Kirstein Brammer, CFO Allan Kragh Thaysen, CTO Mikael Kärrsten and Head of Financial Reporting, SVP Gianandrea Roberti will present the results in brief followed by Q&As.

    The conference call will be held in English. An on-demand version will be available shortly after the conference call has ended.

    Conference call details:
    Danish participants:              +45 78 76 84 90
    UK participants:                    +44 203 769 6819
    US participants:                    +1 646 787 0157
    PIN: 560768

    The interim report material can be downloaded on www.tryg.com/downloads-2025 shortly after the time of release.

    Contact information:

    Visit tryg.com for more information. 

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    The MIL Network

  • MIL-OSI: SEALCOIN Demonstrates Satellite-Enabled IoT Transactions Using WISeSat LEO Constellation

    Source: GlobeNewswire (MIL-OSI)

    SEALCOIN Demonstrates Satellite-Enabled IoT Transactions Using WISeSat LEO Constellation

    Pushing the Frontiers of IoT with Secure, Decentralized Microtransactions Beyond Terrestrial Limits

    Geneva, Switzerland, April 11, 2025 –WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announced that its subsidiary SEALCOIN AG, unveiled a groundbreaking Proof of Concept (PoC) that illustrates the Company’s ability to integrate with remote IoT devices through satellite communications. Leveraging the WISeSat Low Earth Orbit (LEO) constellation and the FOSSA IoT platform, this milestone marks a major step toward SEALCOIN’s vision for a decentralized, transactional IoT that transcends terrestrial infrastructure.

    Built on WISeKey’s satellite infrastructure, the PoC enables microtransaction-driven data exchanges between fully off-the-grid IoT devices, with each data set cryptographically signed at the source device for integrity and trust.

    The architecture operates as follows:

    • Device-to-Device Exchange via Satellite: A request for data is initiated by one IoT device and fulfilled by another using SEALCOIN as the value exchange layer.
    • REST API Integration with WISeSat via FOSSA: The responding device acts as a bridge to the WISeSat network through a REST API, retrieving data from the satellite-linked database, which has been securely signed by the source device.
    • Blockchain Settlement via SEALCOIN on Hedera: Each exchange is recorded and settled securely and efficiently via the SEALCOIN token on the Hedera network.

    This PoC proves the feasibility of executing secure, decentralized, satellite-enabled data transactions between machines in geographically isolated or infrastructure-deficient environments. The implications for smart agriculture, environmental monitoring, autonomous logistics, and defense applications are immense, setting the stage for a new wave of use cases previously unimaginable.

    This is the first iteration of SEALCOIN’s satellite integration roadmap. Looking ahead, the project will focus on embedding SEALCOIN capabilities directly within satellites, secured at the silicon level using Secure Element technology. This foundational step will enable future “Satellite-as-a-Service” business models, where spaceborne infrastructure autonomously participates in decentralized economies.

    “Our goal with SEALCOIN has always been to make transactional IoT borderless, scalable, and secure,” said Carlos Moreira, CEO of WISeKey Group. “With this demo, we’ve not only expanded that vision into space but opened doors to solutions for regions with no cellular or terrestrial coverage”.

    SEALCOIN’s architecture is inherently modular, supporting a plug-and-play approach to new types of sensors and satellite operators, further enhancing its potential for global deployment.

    This is just the beginning of a bold trajectory toward true device-to-device economies, decentralized, autonomous, and resilient by design.

    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

  • MIL-OSI USA: Duckworth Meets with Quad City Chamber and Knox County Area Partnership for Economic Development to Discuss Impact of Trump’s Tariffs on Local Workers

    US Senate News:

    Source: United States Senator for Illinois Tammy Duckworth
    April 10, 2025
    [WASHINGTON, D.C.] – U.S. Senator Tammy Duckworth (D-IL) today met with members of the Quad City Chamber and the Knox County Area Partnership for Economic Development (KCAP) to discuss the harmful impacts Trump’s chaotic trade and other actions are having on the local economy and workers—including the whiplash surrounding his sweeping tariffs, illegal pauses in federal funding and needless trade wars. Duckworth also spoke about how Trump’s blanket tariffs on Canada, Mexico and China negatively impact Illinois consumers, workers and the local manufacturing industry. Photos from today’s meeting with the Quad City Chamber can be found on the Senator’s website.
    “Whether imposing sweeping tariffs then pausing them with no warning, starting trade wars or freezing federal funding, Trump’s chaotic and uncertain decision-making is harming Illinois’s workforce and manufacturers, while pushing away our nation’s allies around the world,” Duckworth said. “The consequences of Trump’s needless trade wars will hurt key Illinois manufacturers and small businesses, which employ many hardworking, middle-class workers across our state’s communities. I’m proud to work alongside our local leaders at the Quad City Chamber and KCAP as we continue to push back against Trump and his one-sided political interests.”
    The Knox County Area Partnership for Economic Development (KCAP) launched in 2015 to provide economic development services to the Galesburg and Knox County region. The Quad Cities Chamber is made up of the most diverse network of influential business leaders in the Quad Cities region. Their members are committed to advancing the Quad Cities economy and to helping each other succeed.
    -30-

    MIL OSI USA News

  • MIL-OSI USA: Golden votes against reckless, deficit-funded GOP budget resolution

    Source: United States House of Representatives – Congressman Jared Golden (ME-02)

    House-Senate ‘compromise’ contains health care cuts, lopsided tax breaks for the wealthy and trillions in new debt

    WASHINGTON — Congressman Jared Golden (ME-02) voted today against the Senate Amendment to H. Con. Res. 14 — a compromise budget resolution for Fiscal Year 2025. 

    “You can’t build a good house with rotten wood. This compromise combines the House GOP’s plan to cut health care to pay for millionaires’ tax cuts with a Senate GOP plan to explode the deficit and enshrine accounting gimmicks that set a new low for fiscal instability. I see no way that combining these two bad plans will somehow yield a good one through the reconciliation process,” Golden said. 

    “There’s a better way forward: Congress could target tax cuts to working families, paid for by allowing the expiration of tax cuts for the very wealthy. We don’t need to take away anyone’s health care or pass trillions in new deficit spending to pass a budget that puts the middle class first,” Golden said.

    The proposal on the floor today was a Senate amendment to the GOP budget resolution adopted by the House in February. As amended, the plan:

    • allows for roughly $5.3 trillion in deficit-financed tax cuts, including $3.8 trillion to extend the 2017 Tax Cuts and Jobs Act (TCJA), which disproportionately benefitted the wealthy;
    • uses an accounting gimmick known as the “current policy baseline” to artificially reduce the legislation’s price tag;
    • instructions for the House Energy and Commerce Committee to cut $880 billion in spending — a target that will be impossible to reach without hundreds of billions in Medicaid cuts, according to the nonpartisan Congressional Budget Office.
    • a $5 trillion debt limit increase; and
    • more than $7 trillion in new debt, in total, over the next decade. 

    The elements of the House-Senate compromise budget resolution are stacked against working families: Roughly half the benefit of extending the full 2017 tax package would go to households with annual income over $450,000. The Treasury Department found that the plan would give an average annual tax break of more than $32,000 for those in the top 1 percent, while working families will only get a few hundred dollars in tax cuts per year.

    Cuts to Medicaid would hurt families in the 2nd Congressional District. Medicaid provides health coverage to 236,000 people in CD2 — more than one-third of the population — according to KFF.

    The national debt is currently roughly $29 trillion. Interest on the debt costs the federal government more every year than on national defense or Medicare. It is second only to Social Security as an annual line item in the federal budget.

    ### 

    MIL OSI USA News