Category: Economy

MIL-OSI Africa: African Union and European Union join hands to promote and invest in Circular Economy and Sustainable Growth
Source: APO

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The African Union (AU) and the European Union (EU) officially announced the launch of the Continental Circular Economy Action Plan (CEAP) for Africa (2024–2034) today. Introduced by Moses Vilakati, AU Commissioner for Agriculture, Rural Development, Blue Economy, and Sustainable Environment, and Jessika Roswall, EU Commissioner Environment, Water Resilience and a Competitive Circular Economy, the plan is designed to advance sustainability, drive economic growth, and enhance resource efficiency across Africa over the next decade.

The CEAP focuses on transitioning African economies to a circular model by reducing waste, promoting resource reuse, and encouraging recycling. As a key component of the African Union’s Agenda 2063, the initiative was developed with co-financing and technical support from the European Union. The CEAP offers a strategic framework for sustainable investments aligned with the Europe-Africa Global Gateway Investment Package and international partnerships. The CEAP will focus on priority sectors including agriculture, packaging, energy, construction, manufacturing, electronics, technology, as well as the fashion and textiles industries.

Following a comprehensive approach, the CEAP will:
- Foster Circular Economy Across Sectors: The plan seeks to promote sustainable practices in key areas such as agriculture, industry, and energy by transforming waste into resources and encouraging innovation in resource management.
- Improve Waste Management: CEAP will enhance waste management systems and recycling infrastructure, particularly through the application of green technologies and local innovations.
- Create Green Jobs: The initiative aims to generate millions of green jobs and foster sustainable entrepreneurship, particularly among young and women.
- Enhance Regional Cooperation: The plan will facilitate cross-border collaboration to share best practices, align policies, and create a collective impact across the continent.
- Build Climate Resilience: By reducing consumption and promoting sustainable production, CEAP will help mitigate climate change and support biodiversity conservation.
AU Commissioner Moses Vilakati said “The launch of the Continental Circular Economy Action Plan is a pivotal moment for Africa’s sustainable development. Through this collaboration with the EU, we are setting the stage for a green, inclusive, and resilient future. This plan represents a unique opportunity for Africa to lead in the global circular economy and tackle the challenges of climate change head-on.”

EU Commissioner Jessika Roswall added “The CEAP is a landmark initiative that builds on the strong partnership between the EU and AU. It is an opportunity to drive economic growth, create jobs, and reduce environmental impact. By adopting circular economy principles, we can achieve sustainable development and build a stronger future for both Africa and Europe.”

The launch of CEAP reflects the joint commitment of the African Union and the European Union to tackle global environmental challenges and advance sustainable development. Both unions are actively supporting its implementation by providing financial assistance, technical expertise, and capacity-building resources to ensure its success across all African countries. The overarching goal, however, is for the CEAP to serve as a transformative driver of sustainable economic growth throughout the continent. To achieve this, the AU is seeking additional support from international partners, including development banks and the private sector.

The CEAP was launched on the sidelines of the African Ministerial Conference on Environment, with attendance from African Ministers of Environment, representatives from Regional Economic Communities, UN Agencies, the private sector, and Micro, Small and Medium-sized enterprises (MSMEs), who showcased their circular economy initiatives.

Distributed by APO Group on behalf of Delegation of the European Union to Kenya.

MIL OSI Africa –
July 18, 2025
US eyes ‘back to basics’ revamp of G20 when it assumes presidency next year

Source: Government of India

Source: Government of India (4)

The United States aims to pare the Group of 20 major economies back to its financial roots next year when it takes over the rotating presidency from South Africa, sources familiar with the Trump administration’s plans said.

Washington has scaled back its participation this year, with Treasury Secretary Scott Bessent skipping a G20 finance chiefs’ meeting that started in Durban, South Africa, on Thursday, his second absence from an event this year.

Experts and administration sources say the absence of top U.S. officials reflects the Trump administration’s skepticism about multilateral institutions such as the G20, which the U.S. helped found in 1999.

U.S. President Donald Trump has upended the global economy with a wide-ranging trade war that has targeted many developing countries, including G20 members, while slashing foreign development funds to pursue an “America First” agenda.

Three U.S. sources familiar with the matter say Washington still plans to assume the G20 presidency at the end of the year, which coincides with the 250th anniversary of the United States.

But it will focus on two “tracks” – the leaders’ summit and the financial track – eliminating other working groups and ministerial-level meetings, including those on energy, health, commerce and the environment, two of the sources said.

A more streamlined G20 process would be in line with Bessent’s call in April for the International Monetary Fund and World Bank to focus on their core missions of financial stability and development instead of climate finance and gender issues. The White House and Treasury had no immediate comment.

SECOND-ROUND RESET

Josh Lipsky, chair of international economics at the Atlantic Council in Washington, said Bessent and other senior U.S. officials want to get “back to basics,” an approach being embraced by other G20 members.

The U.S. has already withdrawn from co-chairing a working group on sustainable finance with China and it remains unclear whether Trump will join this year’s leaders’ summit in South Africa.

Many members agreed the G20’s portfolio had grown too large, triggering a review, said two sources familiar with the issue.

In 2024, G20 host Brazil sought the group’s endorsement of a global minimum tax on the ultra wealthy, a step that the Biden administration rejected as an overreach.

“There seems to be consensus at the G20 that it has expanded a lot. G20 South Africa is conducting a review of the G20 process and will provide recommendations to streamline it. That is in line with what the U.S. is looking at,” one of the sources said.

Activists and developing countries say they will watch U.S. actions, but that paring back could help the G20 survive.

“Our hope is that development continues to be linked,” said Eric LeCompte, executive director of the non-profit Jubilee USA Network. “Financial stability, debt issues and economic issues cannot be separated from development and global growth.”

CRISIS ORIGINS

The G20 was founded after the Asian financial crisis of 1997-1998, before expanding to include state leaders during the global financial crisis in 2008. It has been tested by U.S.-China tensions, Russia’s invasion of Ukraine, and divergent views on the Middle East conflicts.

Brad Setser, a former U.S. official now at the Council on Foreign Relations, said the G20 still offered a platform for high-level bilateral meetings.

He said Trump could welcome to the U.S. next year foreign leaders such as Chinese President Xi Jinping and even Russian President Vladimir Putin if the Ukraine war ended, without the fanfare of a bilateral summit or state visit.

Ben Harris, a former senior Treasury official now at the Brookings Institution, said Washington’s decision to pull back offered China and others a chance to show leadership, which might not serve U.S. interests.

“It obviously creates a vacuum, and that vacuum will be filled.”

(Reuters)

July 18, 2025
US eyes ‘back to basics’ revamp of G20 when it assumes presidency next year

Source: Government of India

Source: Government of India (4)

The United States aims to pare the Group of 20 major economies back to its financial roots next year when it takes over the rotating presidency from South Africa, sources familiar with the Trump administration’s plans said.

Washington has scaled back its participation this year, with Treasury Secretary Scott Bessent skipping a G20 finance chiefs’ meeting that started in Durban, South Africa, on Thursday, his second absence from an event this year.

Experts and administration sources say the absence of top U.S. officials reflects the Trump administration’s skepticism about multilateral institutions such as the G20, which the U.S. helped found in 1999.

U.S. President Donald Trump has upended the global economy with a wide-ranging trade war that has targeted many developing countries, including G20 members, while slashing foreign development funds to pursue an “America First” agenda.

Three U.S. sources familiar with the matter say Washington still plans to assume the G20 presidency at the end of the year, which coincides with the 250th anniversary of the United States.

But it will focus on two “tracks” – the leaders’ summit and the financial track – eliminating other working groups and ministerial-level meetings, including those on energy, health, commerce and the environment, two of the sources said.

A more streamlined G20 process would be in line with Bessent’s call in April for the International Monetary Fund and World Bank to focus on their core missions of financial stability and development instead of climate finance and gender issues. The White House and Treasury had no immediate comment.

SECOND-ROUND RESET

Josh Lipsky, chair of international economics at the Atlantic Council in Washington, said Bessent and other senior U.S. officials want to get “back to basics,” an approach being embraced by other G20 members.

The U.S. has already withdrawn from co-chairing a working group on sustainable finance with China and it remains unclear whether Trump will join this year’s leaders’ summit in South Africa.

Many members agreed the G20’s portfolio had grown too large, triggering a review, said two sources familiar with the issue.

In 2024, G20 host Brazil sought the group’s endorsement of a global minimum tax on the ultra wealthy, a step that the Biden administration rejected as an overreach.

“There seems to be consensus at the G20 that it has expanded a lot. G20 South Africa is conducting a review of the G20 process and will provide recommendations to streamline it. That is in line with what the U.S. is looking at,” one of the sources said.

Activists and developing countries say they will watch U.S. actions, but that paring back could help the G20 survive.

“Our hope is that development continues to be linked,” said Eric LeCompte, executive director of the non-profit Jubilee USA Network. “Financial stability, debt issues and economic issues cannot be separated from development and global growth.”

CRISIS ORIGINS

The G20 was founded after the Asian financial crisis of 1997-1998, before expanding to include state leaders during the global financial crisis in 2008. It has been tested by U.S.-China tensions, Russia’s invasion of Ukraine, and divergent views on the Middle East conflicts.

Brad Setser, a former U.S. official now at the Council on Foreign Relations, said the G20 still offered a platform for high-level bilateral meetings.

He said Trump could welcome to the U.S. next year foreign leaders such as Chinese President Xi Jinping and even Russian President Vladimir Putin if the Ukraine war ended, without the fanfare of a bilateral summit or state visit.

Ben Harris, a former senior Treasury official now at the Brookings Institution, said Washington’s decision to pull back offered China and others a chance to show leadership, which might not serve U.S. interests.

“It obviously creates a vacuum, and that vacuum will be filled.”

(Reuters)

July 18, 2025
India remains a compelling investment destination globally: Report

Source: Government of India

Source: Government of India (4)

India remains a compelling investment destination worldwide owing to its stability, structural reforms, and a resilient consumer base, a leading global investment firm, KKR, has stressed.

KKR, in its ‘2025 Mid-Year Global Macro Outlook,’ said India’s growth prospects and favourable market conditions make it an attractive opportunity for investors. “From a macro perspective, India’s relative insulation from global trade friction remains intact, supported by its predominantly domestic, consumer-driven economy,” the report stated.

“We continue to see India as one of the most compelling strategic allocations within emerging markets today,” it added.

The report, published by KKR’s Global Macro & Asset Allocation team, emphasised India’s unique position as a scalable opportunity amid a shift from benign globalisation to great power competition.

KKR also sees significant potential in infrastructure and credit investments in India, as the private sector capitalises on these trends.

“As the global trade landscape recalibrates, India is well-positioned to increase its manufacturing share, particularly as oil prices soften and ‘China+1’ strategies become more entrenched. Cyclically, we are observing early signs of a rebound following a soft patch in 2024, driven by rural income recovery, robust services exports, and, importantly, supportive policy measures,” said the KKR report.

Production-linked incentives and eased FDI rules are central to the government’s efforts to attract broader capital inflows. Anticipated rate cuts by the Reserve Bank of India and the recent fiscal year budget, which injects meaningful stimulus for low- and middle-income households, further bolster this outlook.

“For investors, India also offers diversification benefits. Its equity market correlation with global indices has decreased — and the sheer scale of its economy is expected to unlock significant private sector opportunities over the next decade,” the report highlighted.

The report further stated that while a modest depreciation of the rupee is anticipated, this can be hedged. The core investment thesis remains compelling: in a volatile global environment, India’s stability, ongoing reforms, and resilient consumer base create a differentiated and increasingly scalable opportunity.

(IANS)

July 18, 2025
MIL-OSI China: Foreign firms eye China’s supply chain

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

This panoramic photo taken on July 17, 2025 shows the Advanced Manufacturing Chain area of the third China International Supply Chain Expo (CISCE) in Beijing, capital of China. [Photo/Xinhua]

With technological innovation playing an increasingly integral role in China’s supply chain operation, foreign firms will build more local partnerships in high-end manufacturing, modern services and consumer goods, senior executives from such corporations said on Thursday.

At the ongoing third China International Supply Chain Expo (CISCE) in Beijing, they said China’s supply chain is evolving beyond simple connectivity to emphasize greater coordination, development and innovation.

Held from Wednesday to Sunday, the third edition of CISCE has brought together more than 650 companies and institutions from 75 countries and regions, said the Beijing-based China Council for the Promotion of International Trade, organizer of the expo.

The proportion of overseas exhibitors increased from 32 percent at the second edition to 35 percent this year — an indication of enduring business interest in the face of rising geopolitical and economic headwinds.

German industrial conglomerate Bosch Group, a three-time participant at CISCE, showcased locally driven innovations in intelligent and electrified technologies across areas such as energy and power systems, motion control and driver assistance at the event this year.

Xu Daquan, president of Bosch China, said that at a critical juncture in the accelerated restructuring of the global automotive supply chain, adhering to open cooperation and strengthening local manufacturing and innovation capabilities are essential for achieving long-term growth.

“Bosch will continue to work with its Chinese partners to build a more resilient, agile and globally oriented smart mobility supply ecosystem,” said Xu.

Driven by technology shifts and competition, China’s fast-evolving auto sector leads in electrification and smart mobility, fueled by innovation and rapid consumer adoption of new technologies, said the German company.

Another active multinational presence at the expo is Federal Express Corp, the United States-based express transportation company and also a third-time CISCE participant. It presented a visually engaging booth at the trade show, featuring a diverse array of images and multimedia content.

“As an important platform for promoting international supply chain connectivity, CISCE offers a valuable opportunity for us to deepen cooperation with industry and supply chain partners,” said Poh-Yian Koh, president of FedEx China, adding the company completed the upgrade of its international export services in Shenzhen, Guangdong province, earlier this week.

FedEx looks forward to working together with all parties to build a stable, efficient, sustainable and intelligent supply chain network, injecting sustained momentum into the smooth operation of the economy and trade for China and the world, she said.

Joining the expanding roster of global participants, French cosmetics company L’Oreal Group made its debut at this year’s CISCE, highlighting innovations in the beauty supply chain.

Its exhibit emphasized smart, consumer-centric systems, open ecosystem collaboration, and the role of Chinese innovation in driving global expansion and delivering localized solutions worldwide.

Chen Jiaqi, director of corporate affairs and engagement at L’Oreal China, said that the ever-evolving demands of Chinese consumers are pushing companies to step up innovation and optimize the entire value chain, from production and logistics to customer service.

“In this process, many new technologies and business models co-created with Chinese supply chain partners have been introduced to the global stage, serving consumers worldwide,” said Chen.

MIL OSI China News –

July 18, 2025
MIL-OSI China: China’s retail sales of consumer goods grow 5.5% annually since 2021: Minister

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

The State Council Information Office (SCIO) holds a press conference on China’s achievements in high-quality commerce development during the 14th Five-Year Plan period (2021-2025) in Beijing, capital of China, July 18, 2025. [Photo/Xinhua]

The retail sales of consumer goods in China grew 5.5 percent on average annually over the past four years, and are expected to top 50 trillion yuan (about 7 trillion U.S. dollars) in 2025, Chinese Minister of Commerce Wang Wentao said Friday.

The retail sales of consumer goods in China rose to 48.3 trillion yuan in 2024 from 39.1 trillion yuan in 2020, Wang said.

According to the World Bank, in terms of actual purchasing power, China’s retail sales of consumer goods surpassed that of the United States, reaching 1.6 times the level of the United States last year.

Consumption has contributed around 60 percent of China’s economic growth on average annually over the past four years, and the role of consumption as the economy’s main engine has continued to strengthen, Wang said.

Sales revenue under trade-in programs in China has surpassed 2.9 trillion yuan as of the end of June.

China’s service consumption continues to grow rapidly, with household spending on services reaching 46.1 percent last year, according to Wang.

During the 15th Five-Year Plan period (2026-2030), China will continue to reduce restrictive measures in the service consumption sector, Wang said.

From 2021 to 2024, China imported consumer goods worth 7.4 trillion yuan, demonstrating the significant contribution of its vast market to global development.

China has refined its departure tax refund policy, and the total spending by inbound tourists reached 94.2 billion U.S. dollars in 2024, marking a remarkable increase of 77.8 percent year on year, Wang added.

MIL OSI China News –

July 18, 2025
MIL-OSI China: China imports 7.4 trillion yuan of consumer goods in 2021-2024: Minister

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

China imported consumer goods worth 7.4 trillion yuan (about 1.03 trillion U.S. dollars) between 2021 and 2024, the first four years of the 14th Five-Year Plan period (2021-2025), China’s Commerce Minister Wang Wentao told a press conference Friday.

Citing figures of the World Trade Organization, he said goods imports by the Chinese mainland and China’s Hong Kong Special Administrative Region accounted for about 13.3 percent of global imports in 2024 — close to the United States’ 13.6 percent.

China is thus the world’s second-largest import market, almost on par with the United States, as well as a major export destination for nearly 80 countries and regions, the minister said.

To encourage more quality goods and services into the Chinese market, Wang said China has fostered international consumption center cities, established national demonstration zones for innovation and promotion of imports, and hosted major expos such as the China International Import Expo and the China International Consumer Products Expo.

“China’s vast market has become a shared market for the world and will continue to serve as a key source of growth and vitality for the global economy,” he told the press.

China has remained the world’s largest goods trader for eight consecutive years, with total goods trade reaching 6.16 trillion U.S. dollars in 2024, a 32.4 percent increase from 2020.

Meanwhile, the share of China’s exports to the United States fell from 17.4 percent of its total exports in 2020 to 14.7 percent in 2024, according to Wang.

“The production and supply chains supporting China’s foreign trade have become more complete, flexible and efficient, enhancing the country’s resilience and confidence in navigating risks and challenges,” he said.

Noting that China has long run a services trade deficit, Wang pointed out that the United States has been China’s largest source of such deficit. Considering the fact that China is the largest contributor to the U.S. goods trade deficit, he said this reflects the complementary strengths between the two economies.

Looking ahead to the upcoming 15th Five-Year Plan period (2026-2030), the minister said China will step up efforts to promote high-quality trade development with focus to be placed on both exports and imports, deepen international cooperation and enhance trade resilience.

MIL OSI China News –

July 18, 2025
MIL-OSI China: Any attempt at forced China-US ‘decoupling’ bound to fail: Commerce minister

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

Any attempt to forcibly “decouple” China-U.S. economic and trade ties is destined to fail, China’s Commerce Minister Wang Wentao said on Friday.

The economic and trade relationship between China and the United States has experienced its ups and downs over the years, but the two countries remain important partners to each other, Wang told a press conference.

Despite a decline in the share of bilateral trade in each other’s overall trade volume, China-U.S. trade has remained generally stable, Wang said.

According to the minister, the trade volume of goods and services between China and the United States rose by 18 percent and 34.7 percent in 2024 from 2017 levels, respectively. The two countries also remain key investment partners, with close exchanges between their business communities.

“In essence, China-U.S. economic and trade relations benefit both sides and bring win-win outcomes. Cooperation is the only right path,” Wang stressed.

Bilateral trade and investment have also created a substantial number of jobs in both countries, he added.

Facts have proven that through equal-footed dialogue and consultation, China and the United States are fully capable of properly managing differences and working to address frictions to achieve mutually beneficial outcomes, Wang noted.

“China’s stance has been consistent in firmly defending national interests and upholding international fairness and justice,” the minister said.

In the first half of this year, China’s economy maintained steady growth despite downward pressures. The fundamentals sustaining its long-term positive outlook remain unchanged, providing the country with strong confidence and resolve in defending its legitimate interests.

As the world’s two largest economies, China and the United States share a responsibility to inject greater certainty and stability into global economic prosperity and development, he said.

Wang stated that China is ready to work with the U.S. side to enhance dialogue and communication, expand common ground, reduce misunderstandings, strengthen cooperation, and jointly steer China-U.S. economic and trade relations back onto the right track of healthy, stable, and sustainable development.

MIL OSI China News –

July 18, 2025
MIL-OSI: No Longer Just Holding: PFMCrypto Unleashes Next-Gen XRP Earnings Through AI Liquidity Mining

Source: GlobeNewswire (MIL-OSI)

New York, NY, July 18, 2025 (GLOBE NEWSWIRE) — As the crypto market heats up and XRP edges toward the $2.3 milestone, PFMCrypto is redefining how everyday users and professionals earn mining rewards. The company has officially launched “XRP Liquidity Mining”, the world’s first AI-powered multi-asset cloud mining vault, enabling users to mine multiple cryptocurrencies simultaneously—while dynamically reallocating computing power to maximize real-time returns.
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The MIL Network –

July 18, 2025
MIL-OSI United Kingdom: New report finds systemic water company failure and underperformance
Source: United Kingdom – Executive Government & Departments

Press release

New report finds systemic water company failure and underperformance

Serious pollution incidents up 60% in 2024 from previous year
Serious pollution incidents up 60% in 2024 from previous year, new report shows

Three water companies responsible for 81% of serious incidents

Environment Agency now has greater powers and more funding than ever to hold poor performers to account

The number of water company pollution incidents across England rose sharply last year, a new report from the Environment Agency has found. The report shows consistently poor performance from all nine water and sewerage companies in the region, with serious pollution incidents in 2024 up 60% from 2023.

The Environment Agency (EA) assesses all pollution incidents, with category 1 (major) and category 2 (significant) incidents being the most serious. In 2024, 75 category 1 and 2 incidents were recorded, a steep rise from 47 serious incidents the previous year. 81% of these serious incidents were the responsibility of just three water companies – Thames Water (33 incidents), Southern Water (15 incidents) and Yorkshire Water (13 incidents). All pollution incidents (category 1 to 3) have increased by 29%: last year water companies recorded 2,801 incidents, up from 2,174 in 2023.

The EA is particularly concerned about the increasing trend in pollution spills from pipes carrying wastewater uphill – these accounted for 20% of the serious incidents in 2024 and impacted some protected waters for wildlife and swimming.

Reasons behind the 2024 results include persistent underinvestment in new infrastructure, poor asset maintenance, and reduced resilience due to the impacts of climate change. 

Last financial year, the EA carried out over 4,000 inspections of water company assets. With more inspections, the EA discovers more non-compliance: last year 24% of sites breached their permits. The EA is clear that none of these factors, including wet weather, can excuse the unacceptable number of incidents last year, and water companies must meet their legal obligations to the environment and communities or face enforcement action.

Alan Lovell, Chair of the Environment Agency said:

This report demonstrates continued systemic failure by some companies to meet their environmental targets.

The water industry must act urgently to prevent pollution from occurring and to respond rapidly when it does.

We have made significant changes to tighten our regulation of the water industry and ensure companies are held to account. With a dedicated larger workforce and increased funding, our officers are uncovering and acting on failures to comply with environmental law.

The EA’s expectations for water companies are set out in the Water Industry Strategic Environmental Requirements (WISER) guide, which states there should be a trend to zero serious pollution incidents by 2025, a reduction in all pollution incidents and high levels of water company self-reporting. It is evident that some companies are failing to meet these targets.

Under the Water (Special Measures) Act, the EA will have greater powers to take swift action against polluting companies, allowing them to close the justice gap and ultimately deter illegal activity from happening in the first place. To boost funding for water regulation, the EA is consulting on a new levy on the water sector to recover the cost of enforcement activities.

It comes as last week, Defra confirmed an £189m uplift for the EA’s water regulation, coming from charges paid by the sector rather than the public purse. This represents a 64% increase in funding since 2023/2024.

So far, the EA is on track to deliver 10,000 inspections of water company assets next year and we will continue to work closely with government and fellow regulators to hold companies to account so they deliver the environmental improvements for communities and wildlife.

The Act also requires companies to produce annual Pollution Incident Reduction Plans to address the root cause of persistent problems and prevent pollution incidents.

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Published 18 July 2025
MIL OSI United Kingdom –
July 18, 2025
MIL-OSI Russia: China-Central Asia Fair Competition Policy Research Institute Opens in Xi’an

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

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

BEIJING, July 18 (Xinhua) — The China-Central Asia Fair Competition Policy Research Institute has been established in Xi’an, capital of northwest China’s Shaanxi Province, the provincial market regulation bureau said Friday.

The opening ceremony of the institute took place on Wednesday afternoon at the Northwestern University of Political Science and Law, according to a statement posted on the official website of the aforementioned department.

In his speech, Zhang Xiaoping, head of the department, called the establishment of the institute a key step to serve the Belt and Road Initiative and promote the development of an open economy in Shaanxi Province. According to him, in order to ensure the effective operation of the institute and enhance its influence, it is necessary to deepen research on competition policy and promote the realization of great results of institutional cooperation with Central Asian countries.

It is necessary to innovatively build a system of service support for enterprises entering international markets to help enterprises from Shaanxi strengthen their positions in the Central Asian markets, he added.

Zhao Wandong, secretary of the Party Committee of Northwest University of Political Science and Law, said the establishment of the institute offers a favorable opportunity to deepen theoretical innovation and practical research in the field of fair competition and antitrust regulation policies and promote the construction of a unified pan-China market. -0-

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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MIL OSI Russia News –

July 18, 2025
MIL-OSI: INVL Technology terminated agreement with investment advisor

Source: GlobeNewswire (MIL-OSI)

INVL Technology (hereinafter – the Company) notifiesthat on 17 July 2025 it terminated the agreement with a company of the Corum group, specifically, the Zurich branch of Luxembourg-based Corum Group International S.à.r.l., which was hired to assist INVL Technology in divesting of it‘s portfolio companies before the end of the envisaged investment period. Certain terms will remain in force for the 12 month period after the termination date (tail period).

Despite the termination of the collaboration with Corum Group, the Company continues to actively pursue the sale of its portfolio companies. Negotiations with potential buyers are ongoing, and initiated processes are not being suspended. the Company will also launch a search for new investment advisors that have expertise in business divestments.

The decision to terminate the collaboration with Corum Group was made to provide greater flexibility in exploring alternative strategic options for the sale of the portfolio companies.

Additional information:

INVL Technology, a company that invests in IT businesses, decided to terminate the contract with the Zurich branch of Corum Group’s Luxembourg-based unit Corum Group International on intermediary services in the divestment of INVL Technology’s portfolio companies on 17 July 2025. Certain terms of the agreement will remain in force for a 12-month tail period.

“Notwithstanding the challenging economy and ongoing stagnation of B2B technology companies in Europe, the US and Canada, resulting in a less-than-ideal situation in the market for divesting businesses, we have interested parties, and we are continuing the sale process. We decided to terminate the contract with our current investment advisor in order to be able to explore other divestment possibilities. We are not halting the process and Corum Group will complete negotiation processes with the parties that have expressed interest in the portfolio companies. INVL Technology will seek for other exit opportunities,” says Kazimieras Tonkūnas, the Managing Partner at INVL Technology. “The portfolio companies are performing well, their results will be reflected in the report for the first half of the year which we will publish at the end of August.”

INVL Technology, which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is a closed-end investment company.

INVL Technology owns and manages the cybersecurity company NRD Cyber Security, the GovTech company NRD Companies, and the Baltic IT company Novian.

The shares of INVL Technology are traded on the secondary list of the Nasdaq Vilnius stock exchange (INC1L).

The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
E-mail k.tonkunas@invltechnology.lt

The MIL Network –

July 18, 2025
MIL-OSI: INVL Technology terminated agreement with investment advisor

Source: GlobeNewswire (MIL-OSI)

INVL Technology (hereinafter – the Company) notifiesthat on 17 July 2025 it terminated the agreement with a company of the Corum group, specifically, the Zurich branch of Luxembourg-based Corum Group International S.à.r.l., which was hired to assist INVL Technology in divesting of it‘s portfolio companies before the end of the envisaged investment period. Certain terms will remain in force for the 12 month period after the termination date (tail period).

Despite the termination of the collaboration with Corum Group, the Company continues to actively pursue the sale of its portfolio companies. Negotiations with potential buyers are ongoing, and initiated processes are not being suspended. the Company will also launch a search for new investment advisors that have expertise in business divestments.

The decision to terminate the collaboration with Corum Group was made to provide greater flexibility in exploring alternative strategic options for the sale of the portfolio companies.

Additional information:

INVL Technology, a company that invests in IT businesses, decided to terminate the contract with the Zurich branch of Corum Group’s Luxembourg-based unit Corum Group International on intermediary services in the divestment of INVL Technology’s portfolio companies on 17 July 2025. Certain terms of the agreement will remain in force for a 12-month tail period.

“Notwithstanding the challenging economy and ongoing stagnation of B2B technology companies in Europe, the US and Canada, resulting in a less-than-ideal situation in the market for divesting businesses, we have interested parties, and we are continuing the sale process. We decided to terminate the contract with our current investment advisor in order to be able to explore other divestment possibilities. We are not halting the process and Corum Group will complete negotiation processes with the parties that have expressed interest in the portfolio companies. INVL Technology will seek for other exit opportunities,” says Kazimieras Tonkūnas, the Managing Partner at INVL Technology. “The portfolio companies are performing well, their results will be reflected in the report for the first half of the year which we will publish at the end of August.”

INVL Technology, which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is a closed-end investment company.

INVL Technology owns and manages the cybersecurity company NRD Cyber Security, the GovTech company NRD Companies, and the Baltic IT company Novian.

The shares of INVL Technology are traded on the secondary list of the Nasdaq Vilnius stock exchange (INC1L).

The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
E-mail k.tonkunas@invltechnology.lt

The MIL Network –

July 18, 2025
MIL-OSI: MoneyHero Group Announces Winners of the SingSaver Best-Of Awards
Source: GlobeNewswire (MIL-OSI)

SINGAPORE, July 18, 2025 (GLOBE NEWSWIRE) — MoneyHero Limited (NASDAQ: MNY) (“MoneyHero” or the “Company”), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, successfully hosted the inaugural MoneyHero Group Presents: SingSaver Best-Of Awards gala on 17 July 2025. The event celebrated credit cards, investment products, insurance offerings, and digital banks that deliver the most exceptional value to Singapore consumers.

The gala was well attended by over 170 guests, including senior executives from leading financial institutions, industry experts, and members of the media. This milestone event underscored MoneyHero’s commitment to promoting financial literacy and driving excellence within Singapore’s personal finance landscape.

Beyond recognising excellence, the event fostered valuable connections across MoneyHero’s extensive network of partnerships, strengthening collaboration and supporting the continued growth of the personal finance ecosystem in Singapore.

A total of 45 awards were presented across categories, such as credit cards, digital banks, investment products, and insurance. Winners this year included:
- Best Credit Card for Travel Rewards: UOB Visa Signature Card
- Best Credit Card for Dining: HSBC Live+ Credit Card
- Best Credit Card for Shopping: OCBC Rewards Card
- Best Credit Card for Everyday Spending: DBS yuu Card
- Best Premium Credit Card: Citi Prestige Card
- Best Credit Card for Simple Cashback: SCB Simply Cash Credit Card
- Best Digital Bank for Seamless Onboarding: Trust Bank
- Best Digital Bank for Integrated Investing Options: MariBank
- Best Brokerage for Global Trading Experience for Everyday Investors: Tiger Brokers
- Best Brokerage for US, SG, and HK Stocks: Webull Singapore
- Best Brokerage for Beginner Investors in Singapore: Moomoo Singapore
- Best Overall Travel Insurance Plan: FWD Premium
- Top-Selling Insurance Provider on SingSaver: MSIG Insurance
- Best Global Insurance Provider: Allianz Partners
A full list of awardees and details of the judging methodology are available at:
https://www.singsaver.com.sg/campaign/best-of-awards-2025

Rohith Murthy, CEO of MoneyHero, said: “The inaugural MoneyHero Group Presents: SingSaver Best-Of Awards was a landmark event that brought together the personal finance community to recognise and celebrate products that deliver exceptional value to Singaporeans. By uniting our partners through this annual event, we aim to strengthen collaboration and foster innovation across the ecosystem—an approach we plan to extend to all markets where we operate. We sincerely thank the winners, nominees, judges, and attendees for their valuable contributions to this milestone event and their shared commitments to advancing financial empowerment.”

Catherine Pang, Sales Director at Allianz Partners Singapore said: “We are honoured to be recognised in SingSaver Best-of Awards 2025. At Allianz Partners, our mission has always been to provide travellers with peace of mind through comprehensive, accessible, and responsive travel insurance solutions. This award is a reflection of the trust our customers place in us and the dedication of our team to deliver exceptional service — from seamless digital claims to round-the-clock emergency assistance. We are proud to stand alongside SingSaver and MoneyHero Group in empowering consumers to make informed financial decisions, and we remain committed to protecting every journey, near or far.”

Gourab Kundu, Head of Digital Growth for Asia South at Citi Wealth said: “We’re honoured that the Citi Prestige and Citi Cash Back credit cards have been recognised at the inaugural SingSaver Best-of Awards 2025. This recognition is a testament to our customer-centric focus, bringing the best proposition to our clients. Moving forward, we will continue to enhance our value proposition for customers to ensure our product offerings fit their lifestyles and their needs.”

Disclaimer

The information provided on this press release is for educational and informational purposes only and should not be construed as financial or investment advice. While MoneyHero reviews and compares financial products to help consumers make informed decisions, it does not offer or provide personalised recommendations or investment advisory services. Consumers should always conduct their own research or consult a licensed financial professional before making any financial decisions.

MoneyHero has made reasonable efforts to ensure that the information contained in this press release is accurate and up to date as at the date of publication. However, MoneyHero makes no warranties, express or implied, regarding the accuracy, completeness, or reliability of the information and accepts no liability (including liability to third parties) for any loss or damage arising from any error or omission in compiling or presenting such information, or reliance on the information provided.

About SingSaver

SingSaver, part of MoneyHero Group (Nasdaq: MNY) – a market leading personal finance aggregation and comparison company in Greater Southeast Asia. Founded in May 2015, SingSaver has always been committed to matching consumers with the right financial products they need — from credit cards to personal loans, investing accounts to insurance policies, and much more. SingSaver helps thousands of consumers improve their money health with easy-to-use comparison platform along with impartial product reviews and extensive finance articles. For a full discovery, visit https://www.singsaver.com.sg/

About MoneyHero Group

MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero had over 260 commercial partner relationships as at 31 March 2025, and had approximately 5.7 million Monthly Unique Users across its platform for the three months ended 31 March 2025. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC’s digital economy, please visit www.MoneyHeroGroup.com.

For inquiries, please contact:

Investor Relations:
MoneyHero IR Team
IR@MoneyHeroGroup.com

Media Relations:
MoneyHero PR Team
Press@MoneyHeroGroup.com

Photo 1:

Group picture of all the guests and winners at the SingSaver Best-Of Awards.

Photo 2:

Rohith Murthy, CEO of MoneyHero Group, delivers the keynote address for the SingSaver Best-Of Awards.

Photo 3:

Guests at the SingSaver Best-Of Awards.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f7405961-02c5-4496-9e76-6aca94a93d2f

https://www.globenewswire.com/NewsRoom/AttachmentNg/858e3357-72d6-4eb2-8650-68361bf3d98e

https://www.globenewswire.com/NewsRoom/AttachmentNg/9caddd16-d470-4e76-9d64-0554c9fd42a6

The MIL Network –
July 18, 2025
MIL-OSI Africa: Mahama reaffirms commitment: cocoa farmers to receive 70% of world market price

Source: APO

.

President John Dramani Mahama has announced that, beginning with the next cocoa season, Ghanaian cocoa farmers will receive no less than 70 per cent of the prevailing world market price for their produce.

Addressing a grand durbar of chiefs and residents in Juaboso on Tuesday, the President declared: “Let me be clear: we will honour our promise to pay our hardworking farmers 70 per cent of the world market price of cocoa. The sweat of our cocoa farmers deserves dignity and a fair reward.”

Key highlights

1. 70 % price guarantee: The new pricing formula will be reflected in the producer price set by the Producer Price Review Committee ahead of the upcoming 2025/26 crop year.

2. President Mahama announced that construction works will commence this quarter on the Juaboso–Asawinso trunk road, along with 120 km of feeder roads that link farming communities to key buying centres.

3. Government will distribute five million hybrid seedlings and scale up fertiliser subsidies to increase yields and maintain Ghana’s position as the world’s leading cocoa producer.

An additional 10,000 young people are being enrolled in the Cocoa Rehabilitation & Youth Entrepreneurship Programme to rejuvenate aged farms and create decent jobs in the sector.

President Mahama described cocoa as “the lifeblood of our rural economy” and emphasised that sustaining farmers’ livelihoods is central to Ghana’s growth agenda. The chiefs commended the President for honouring his pledges and called for continued collaboration to improve health, education, and market access in cocoa-growing areas.

Distributed by APO Group on behalf of The Presidency, Republic of Ghana.

MIL OSI Africa –

July 18, 2025
MIL-OSI Africa: Twelve Million Kenyans to Benefit from a New Social Protection Project Aimed at Strengthening Human Capital and Economic Inclusion

Source: APO

.

The World Bank Board of Directors approved the Second Kenya Social and Economic Inclusion Project (KSEIP2) which will strengthen the country’s social protection systems and scale up safety net support to twelve million citizens, including elderly, women, adolescents, children and other age specific vulnerable groups–while advancing human capital development and economic inclusion.

The KSEIP2, a successor to the recently completed Kenya Social and Economic Inclusion Project (KSEIP), will build on the success and lessons learned from the relevant interventions implemented to enhance delivery systems for inclusive access to social and economic inclusion. It is financed by a $127.5 million investment from the International Development Association (IDA).

“Inclusive growth and poverty reduction are realized when there are more and better jobs as well as more accessible jobs for the poorest and most vulnerable populations,” said Qimiao Fan, World Bank Division Director for Kenya. “The project’s innovative elements will prepare today’s children and adolescents for healthy and productive adulthoods, help poorer families with sustainable livelihood enhancement, and ensure that hard-won gains are not lost to food insecurity during the times of drought or other crises.”

The project will scale up cash-plus programs for targeted age groups, complementing the existing cash transfers provided under the government’s flagship National Safety Net Program (NSNP). KSEIP2 will promote inclusive and sustainable employment through the introduction of climate-resilient income-generating activities and by linking beneficiaries to government social insurance schemes for long-term savings and resilience.

Given Kenya’s vulnerability to recurrent droughts in the North and Northeastern Counties, the project will also strengthen the efficacy of social protection system through investments in modernization and provision of emergency social assistance as temporary support to offset the adverse impact of such crisis.

“The Government of Kenya is committed to supporting opportunities for every Kenyan family to sustainably exit poverty and vulnerability. The KSEIP2 Project supports the government’s ambition on disrupting the vicious cycle of poverty by focusing on investments in children and adolescents, as well as households with productive capacity,” said Shubha Chakravarty, Senior Economist and the Task Team Leader, World Bank. “This objective will be achieved by working in synergy with other relevant government programs.”

The project is consistent with the FY23-FY28 World Bank Group Country Partnership Framework (CPF), particularly with the objectives of increasing household resilience, national preparedness for shocks response, and priorities around human capital development and jobs agenda. It is also in line with Kenya’s vision 2030 while supporting the constitutional commitment to “provide social security for all Kenyans who cannot support themselves”.

Distributed by APO Group on behalf of The World Bank Group.

MIL OSI Africa –

July 18, 2025
MIL-OSI Africa: Ghana: President Mahama welcomes London Mayor

Source: APO

.

President John Dramani Mahama on Thursday reaffirmed Ghana’s firm commitment to international trade and investment, outlining the wide-ranging reforms actively fostering economic transformation and better governance.

He was speaking during a courtesy call from the Mayor of London, Sir Sadiq Khan.

The President stated that these strategic reforms, begun just six months into his administration, are already showing tangible results.

He spoke about the renewed business confidence, the relative appreciation of the Cedi, and a decreasing inflation rate as important signs of economic stability and progress, especially after recent global challenges and inherited public debt burdens.

“We are striving to cultivate a new sense of thinking, a fresh approach to doing things, and to ensure that we effectively serve the people who elected us to lead,” President Mahama stated.

He elaborated on key government initiatives, including the ’24-Hour Economy’ policy, drawing inspiration from London, a city he described as “never sleeping.”

The President explained, “We’ve launched a 24-Hour Economy initiative to harness Ghana’s vibrant youthful population and address the challenges of rapid urbanisation by promoting continuous economic activity and opportunities.”

President Mahama further emphasised Ghana’s burgeoning digital landscape, indicating the country’s readiness to fully integrate into the global FinTech community with numerous digital services and innovative companies emerging across the country.

He also reiterated the government’s strong focus on agriculture and agribusiness as vital sectors for creating more opportunities, particularly for young people.

Discussions between the two leaders also delved into the deep historical and business ties connecting Accra and London.

President Mahama acknowledged Accra’s rapid growth and expressed Ghana’s keen interest in learning from London’s extensive expertise in urban planning, efficient transport systems, modern waste management solutions, and effective flood control strategies.

“For a city like London, the efficiency of your transport system, even with perceived challenges, is truly remarkable,” the President noted, adding, “We aspire to develop similar reliable systems where punctuality is the norm for our citizens.”

In his remarks, Mayor Sir Sadiq Khan congratulated President Mahama on his re-election and commended the positive signals his administration is sending to the international community regarding Ghana’s potential.

He praised the invaluable contributions of Londoners of Ghanaian origin, who are enriching various sectors of the city’s economy and public life, from healthcare and transport to the arts.

Distributed by APO Group on behalf of The Presidency, Republic of Ghana.

MIL OSI Africa –

July 18, 2025
MIL-OSI Africa: PalmPay Named One of the World’s Top 300 Fintech Companies of 2025 by Consumer News and Business Channel (CNBC) & Statista

Source: APO

 PalmPay (www.PalmPay.com), a leading neobank and fintech platform focused on emerging markets, has been recognised in CNBC and Statista’s 2025 Top 300 Fintech Companies in the World list. This marks the second year in a row that PalmPay has earned a place among the world’s most innovative and impactful financial technology firms.

The selection is based on a rigorous evaluation of thousands of companies globally, assessing growth, innovation, market penetration, and impact. This year’s list includes a mix of global leaders – including Revolut, Nubank and Ant Group – alongside rising stars from high-growth markets, underscoring the growing influence of emerging-market fintechs like PalmPay.

PalmPay’s inclusion reflects its continued momentum as one of Africa’s leading fintech platforms. With over 35 million registered users and up to 15 million transactions processed daily, the company offers a comprehensive suite of digital financial services tailored to the needs of underserved communities.

In its main market, Nigeria, PalmPay operates as a full-service neobank, offering consumer financial services such as transfers, bill payments, credit, savings, and insurance – all accessible through its user-friendly app and supported by a nationwide network of over 1 million agents and merchant partners. The company also provides POS and API-driven B2B solutions tailored to the needs of merchants and enterprise clients.

“To be recognised as one of the world’s top fintech companies by CNBC and Statista is a powerful affirmation of our mission to build a more inclusive financial system,” said Sofia Zab, Founding Chief Marketing Officer at PalmPay. “Through cutting-edge technology, deep local distribution, and a customer-first mindset, we’ve built Nigeria’s leading neobank. As we scale PalmPay to more emerging markets, including Tanzania and Bangladesh, our focus remains on closing financial access gaps for everyday consumers and businesses, while expanding the partner ecosystem that fuels our reach and impact.”

As part of its broader expansion strategy, PalmPay recently launched in Tanzania and Bangladesh through a smartphone device financing model that serves as an entry point to digital financial services.

“PalmPay is building a neobanking platform tailored to the realities of emerging markets,” said Jiapei Yan, Group Chief Commercial Officer at PalmPay. “We are creating the infrastructure for a connected digital economy – where people and businesses can thrive through reliable, inclusive financial tools. This recognition from CNBC and Statista affirms our progress and also the scale of the opportunity ahead. As we expand across more emerging markets, we are committed to creating lasting value for our users, partners, and the communities we serve.”

PalmPay’s inclusion follows another major recognition earlier this year: the company ranked #2 overall and #1 in the financial services sector on the Financial Times – Africa’s Fastest-Growing Companies 2025 list. The ranking, based on revenue growth between 2020 and 2023, highlighted PalmPay’s rapid scale and market traction across Africa.

PalmPay currently operates in Nigeria, Ghana, Tanzania, and Bangladesh, and is expanding its presence across Africa and Asia through device financing, digital banking, and B2B payment services. Backed by a robust neobanking platform and a partnership-led approach, the company is committed to shaping the next chapter of inclusive financial growth.

Distributed by APO Group on behalf of PalmPay.

About PalmPay:
PalmPay is a leading neobank and fintech platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.

PalmPay offers a comprehensive range of products, including mobile payments, credit, savings and micro-insurance via its app and mobile money agent network.

Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users and processes up to 15 million transactions daily. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh.

For more information, visit www.PalmPay.com

Media files

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MIL OSI Africa –

July 18, 2025

MIL-OSI: Bank of Åland Plc: Half-Year Financial Report for the period January – June 2025

Source: GlobeNewswire (MIL-OSI)

Bank of Åland Plc
Half-Year Financial Report
July 18, 2025 9:00 EET

Half-Year Financial Report for the period January – June 2025

Strong results and record inflows of assets under management

“We are delivering a strong second quarter in terms of earnings, with a net operating profit of EUR 16.3 million (15.6) that resulted in a return on equity of 19.1 per cent (18.3). With that, we can summarize the first half of the year with excellent results, with net operating profit of EUR 34.7 million and a return on equity of 19.2 per cent (18.2). This is the highest result we have ever reported for a first half-year.

“The second quarter was one of our all-time best, with net inflow of new client investments of EUR 328 million. The high net inflow means that for the first time, we can report a volume of actively managed assets on behalf of customers of over EUR 11 billion.

“Lowered market interest rates are putting pressure on net interest income for us as well as for other banks. Net interest income was down 9 per cent for the half year. Despite this, from the start of the year we were able to compensate for the decline with increased commission income, which rose by 13 per cent, primarily from our customers financial investment business.

“The world around us continues to present an array of uncertainties, and we see that our customers continue to be cautious about borrowing money. Despite this, our lending began to increase again during the quarter, albeit at cautious levels. Market interest rates have now halved since peaking just over a year and a half ago. We believe this development will contribute to increased lending activity in the second half of the year.”

Peter Wiklöf, Managing Director and Chief Executive

January – June 2025 compared to January – June 2024

Net operating profit increased by 7 per cent and amounted to EUR 34.7 M (32.5).
Core income in the form of net interest income, net commission income and IT income levels remained unchanged at EUR 107.9 M (108.4).
Other income increased to EUR 4.0 M (0.7).
Total expenses increased by 2 per cent to EUR 76.5 M (74.9).
Net impairment losses on financial assets (including recoveries) totalled EUR 0.7 M (1.7), equivalent to a loan loss level of 0.04 per cent (0.08).
Return on equity after taxes (ROE) increased to 19.2 per cent (18.2).
Earnings per share increased by 9 per cent to EUR 1.86 (1.71).
The common equity Tier 1 capital ratio decreased to 12.8 per cent (14.5 on December 31, 2024).
Unchanged future outlook: The Bank of Åland expects its return on equity after taxes (ROE) to continue to exceed its long-term financial target of 15 per cent during 2025.

The second quarter of 2025 compared to the second quarter of 2024

Net operating profit increased by 4 per cent and amounted to EUR 16.3 M (15.6).
Core income in the form of net interest income, net commission income and IT income decreased by 2 per cent to EUR 54.1 M (55.4).
Other income increased to EUR 1.8 M (−0.1).
Total expenses increased by 1 per cent to EUR 38.8 M (38.5).
Net impairment losses on financial assets (including recoveries) totalled EUR 0.8 (1.2), equivalent to a loan loss level of 0.08 per cent (0.11).
Return on equity after taxes (ROE) increased to 19.1 per cent (18.3).
Earnings per share increased by 10 per cent to EUR 0.90 (0.82).

Financial summary

Group	Q2 2025	Q1 2025	%	Q2 2024	%	Jan-Jun 2025	Jan-Jun 2024	%
EUR M
Income
Net interest income	24.1	23.8	1	26.4	-9	47.9	52.7	-9
Net commission income	21.2	21.4	-1	19.4	10	42.6	37.7	13
IT income	8.9	8.6	3	9.7	-9	17.4	18.1	-3
Other income	1.8	2.2	-18	-0.1		4.0	0.7
Total income	55.9	56.0	-0	55.3	1	111.9	109.1	3

Staff costs	-24.8	-23.4	6	-22.8	9	-48.1	-44.4	8
Other expenses	-11.1	-11.3	-2	-12.5	-11	-22.4	-24.0	-7
Depreciation/amortisation	-3.0	-3.0	1	-3.3	-8	-6.0	-6.5	-8
Total expenses	-38.8	-37.7	3	-38.5	1	-76.5	-74.9	2

Profit before impairment losses	17.1	18.3	-7	16.8	2	35.4	34.2	3

Impairment losses on financial assets, net	-0,8	0,1		-1,2	-34	-0,7	-1,7	-58
Net operating profit	16.3	18.3	-11	15.6	4	34.7	32.5	7

Income taxes	-2.4	-3.7	-35	-3.1	-22	-6.1	-6.3	-3
Profit for the period	13.9	14.6	-5	12.6	11	28.6	26.2	9

Volume
Lending to the public	3,594	3,552	1	3,530	2
Deposits from the public	3,578	3,573	0	3,475	3
Actively managed assets	11,057	10,662	4	10,343	7
Managed mortage loans	3,335	3,335	-0	2,952	13
Equity capital	326	315	4	311	5
Balance sheet total	4,903	5,011	-2	4,782	3
Risk exposure amount	1,799	1,803	-0	1,681	7

The Bank of Åland (Ålandsbanken) follows the disclosure procedure stipulated in “Disclosure obligation of the issuer (6/2016)”, published by the Finnish Financial Supervisory Authority and hereby publishes its Half-Year Financial Report for the period January – June 2025, which is enclosed with this stock exchange release.

The Bank`s Half-Year Financial Report for the period January – June 2025 is attached to this release in PDF format and is also available on the company’s web site at:
https://www.alandsbanken.com/financial-information/financial-reports

Mariehamn, July 18, 2025

THE BOARD OF DIRECTORS

For more information please contact:

Peter Wiklöf, Managing Director and Chief Executive, Bank of Åland Plc, tel. + 358 (0)40 512 7505

Attachment

alandsbanken_en_resultat_jan-jun_25

The MIL Network –

July 18, 2025

MIL-OSI Submissions: Economy – US passes first major crypto legislation – global ‘arms race’ heats up – deVere Group

Source: deVere Group

July 18 2025 – The US has passed its first major national cryptocurrency legislation—the Genius Act—signaling the most aggressive shift yet in Washington’s approach to digital assets.

Backed by President Trump, the bill marks a landmark moment for the crypto sector and ignites what global financial advisory giant deVere Group calls a full-scale global digital arms race.

In response to the development, deVere today confirms it is doubling down on its $150,000 Bitcoin price prediction by the end of 2025, citing the legislation as a turning point in monetary and technological policy that will trigger rapid acceleration in adoption, capital flows, and international competition.

“This changes everything,” said Nigel Green, CEO of deVere Group.

“For the first time, the US government is not just ‘tolerating’ crypto—it’s codifying it. The world’s largest economy is laying down the legal foundations for digital assets to thrive.

“This s

MIL OSI – Submitted News –

July 18, 2025
MIL-OSI: Good customer activity and strong credit quality led to solid results for the first half of 2025. Net profit of DKK 11.2 billion
Source: GlobeNewswire (MIL-OSI)

Press release Danske Bank
Bernstorffsgade 40
DK-1577 København V
Tel. + 45 45 14 14 00

18 July 2025

Page 1 of 3

Good customer activity and strong credit quality led to solid results for the first half of 2025
Net profit of DKK 11.2 billion

Carsten Egeriis, Chief Executive Officer, comments on the financial results:

“In the first half-year, we continued our robust performance and delivered solid results in line with our expectations. We saw new business customer relations being established, a continued uplift in lending and a steady development in core income, and we maintained our focus on cost management. Furthermore, credit quality remained strong, resulting in a low level of loan impairments.

Our solid financial results and capital position enable us to be a strong financial partner, providing expert advice and standing by our customers and society in times of volatile markets.

With our increased investments in technology and customer offerings, we continue to deliver on our Forward ’28 strategy and are well on track to meet our guidance for the full year.”

Solid performance in uncertain environment
Driven by good customer activity across our business and our ongoing commitment to efficiency, we achieved a net profit of DKK 11.2 billion and a return on equity of 13% in the first half of the year. These solid financial results reflect our successful execution and strategic focus in key growth areas.

Net interest income remained steady, as the adverse effect of the sale of the personal customer business in Norway and a reduction in deposit margins was offset by enhanced lending activity and our deposit hedge strategy.

Net fee income for the first half of the year was stable year on year, supported by growing demand for everyday banking services in the first quarter, although this demand decreased in the second quarter. Fee income related to capital markets and investment activity was impacted by the decline in investment appetite caused by the market volatility.

On the basis of continued cost discipline, the cost trajectory is in line with the full-year 2025 guidance. Furthermore, credit quality remained strong, supported by favourable macroeconomic conditions, including the employment rate. Loan impairment charges remained low and amounted to DKK 266 million in the first half of the year.

With prudent asset and liability management, our capital and liquidity positions remain solid, with substantial buffers well above regulatory requirements.

“In the first half of the year, we achieved a solid financial performance, fuelled by good customer activity that led to resilient core banking income and an increase in net trading income year on year. Net profit was stable, despite the impact of rates and market volatility. Our diversified business model and operational efficiency contributed to an improved cost/income ratio of 45.4% and a return on equity of 13.0%. We are on track to meet our 2025 guidance and are progressing towards achieving our 2026 financial targets,” says Cecile Hillary, Chief Financial Officer.

H1 2025 vs H1 2024
Total income of DKK 27.9 billion (DKK 28.0 billion in the first half of 2024)
Operating expenses of DKK 12.7 billion (DKK 12.8 billion in the first half of 2024)
Loan impairments of DKK 266 million (net reversal of DKK 99 million in the first half of 2024)
Net profit of DKK 11.2 billion (DKK 11.5 billion in the first half of 2024)
Return on shareholders’ equity of 13.0% (13.1% in the first half of 2024)
Total capital ratio of 22.4% and CET1 capital ratio of 18.7% (total capital ratio of 22.5% and CET1 capital ratio of 18.5% in the first half of 2024)

Resilient macroeconomic outlook amid uncertainty
Despite the challenges posed by geopolitical turbulence and market volatility, the macroeconomic environment in our operating markets remains robust. The Nordic economies continue to exhibit resilience.

The economies are increasingly supported by increased household spending power and lower interest rates. However, this has not translated into improved consumer sentiment, as retail customers remain cautious and consumer confidence is low.

According to the latest macroeconomic outlook by Danske Bank Research, we continue to expect robust economies with high employment rates and single-digit growth, particularly in Denmark.

“Nordic businesses still have a cautiously positive outlook, and we share their view that growth is likely to become moderately higher, despite the uncertainty hanging over the global economy. Though conditions are in place with higher real incomes and lower interest rates, we do not expect a strong recovery. Households remain deeply worried about the economic situation, which could hold growth back, but there is also a potential for the situation to improve,” says Las Olsen, Head of Macro Research.

Personal Customers
Profit before tax amounted to DKK 4,217 million in the first half of 2025 (H1 2024: DKK 5,028 million). The decrease was mainly due to a decline in net interest income caused by lower deposit margins, a decline in fee income that was mainly the result of positive one-offs in the first half of 2024 and relatively subdued refinancing activity, as well as to slightly higher loan impairment charges. These were partly offset by rising deposit volumes and the impact of deposit hedging. Both income and operating expenses were affected by the divestment of the personal customer business in Norway. Loan levels remained stable, and deposits increased 5%.

Business Customers
In the first half of 2025, we saw continuously good progress in terms of customer inflow and a positive development in lending volumes, and business with existing customers remained strong across our mid-sized customer segment. Profit before tax amounted to DKK 5,085 million, an increase of 23% from the same period last year (H1 2024: DKK 4,140 million). The increase was driven by loan impairment reversals. Net fee income also increased, although the effect was offset by lower income from our leasing operations.

Large Corporates & Institutions
In the first half of 2025, we achieved solid financial results. Our efforts to attract new corporate customers outside Denmark and to strengthen customer relations across our markets have improved our position within cash management. Furthermore, we maintained our leadership within sustainable finance. Profit before tax decreased to DKK 4,544 million, or 9%, from the level in the same period last year, with the decrease driven by higher loan impairment charges.

Danica
Net income at Danica decreased to DKK 714 million in the first half of 2025, down 25% from the level for the same period in 2024 due to a decrease in the insurance service result, which was impacted by a strengthening of provisions related to legacy life insurance products in run-off. The insurance service result for the health and accident business for the first half of 2025 recorded a loss, however, Danica saw an improvement during the first half of 2025 supported by a positive trend in the treatment and prevention of long-term illness and injury that was driven by intensified efforts with new healthcare solutions and improved digital solutions.

Northern Ireland
Residential mortgage lending volumes continued to grow, reflecting an increased market share of new business in Northern Ireland. Financial performance remained positive with profit before tax of DKK 1,110 million in the first half of 2025, 18% higher than for the same period last year.

Outlook for 2025
We maintain our guidance and expect net profit to be in the range of DKK 21-23 billion. The outlook is subject to uncertainty and depends on economic conditions.

Danske Bank

Contact: Helga Heyn, Head of Media Relations, tel. +45 45 14 14 00

Attachments
- Danske Bank Interim report – first half 2025
- Danske Bank press release 18 July 2025
The MIL Network –
July 18, 2025
MIL-OSI Russia: Overseas Chinese, Ethnic Chinese Join Belt and Road Initiative

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

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

CHONGQING, July 18 (Xinhua) — The first conference of overseas Chinese and ethnic Chinese on cooperation and development under the Belt and Road Initiative opened in Chongqing, southwest China, on Thursday. The event aims to consolidate the strength of overseas Chinese to advance the joint construction of the Belt and Road.

During the conference, agreements worth a total of 43.79 billion yuan (about 6.13 billion U.S. dollars) were signed, covering 66 projects in the fields of green energy, cross-border trade, modern manufacturing and the digital economy.

In addition, the Belt and Road Network of Chinese Diaspora Business Organizations was launched, with organizations from 72 countries and regions of the world becoming its first members. The network aims to pool business resources and promote cooperation in trade, economic, scientific, technical and cultural fields.

Conference participants were introduced to 10 best practices on the role of Chinese nationals in implementing the Belt and Road Initiative in areas such as new energy, manufacturing and humanitarian aid.

The conference, jointly organized by the All-China Federation of Returned Overseas Chinese and the governments of Chongqing and Sichuan Province, brought together more than 500 representatives of Chinese communities from more than 110 countries and regions. -0-

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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MIL OSI Russia News –

July 18, 2025
MIL-OSI Australia: Transcript – SkyNews NewsDay with Kieran Gilbert

Source: Murray Darling Basin Authority

KIERAN GILBERT, HOST: The Federal Government’s vowing to implement sweeping changes to the child care sector as Parliament returns next week. It comes after those shocking allegations of child sexual abuse. Let’s go live to the Minister for Early Childhood Education, Jess Walsh. Jess, thanks for your time. This is going to be one of the first things that the Government does in the next Parliament.

SENATOR DR JESS WALSH, MINISTER FOR EARLY CHILDHOOD EDUCATION AND MINISTER FOR YOUTH: Yeah, that’s right, Kieran, because making sure that every child is safe in early childhood education is really our top priority right now. We know that every child should be safe, but that there’s more to do right now to make sure that that’s the case and to make sure that parents are confident that their children are safe too. And that’s why we’re introducing legislation right into the first week of Parliament to make sure that we have the power to cut Commonwealth funding to those providers who put profit ahead of child safety. And our message is really clear to those providers: we want you to lift your game or to leave the sector.

GILBERT: And I know it’s a story that so many of our viewers, for parents, for Australians around the country, when you heard about the stories and read about it, it is just heartbreaking, sickening, the allegations that have been made, Minister. So, I know the Education Ministers are meeting again in August. Obviously, this will be on the agenda there too.

WALSH: Yeah, that’s right, Kieran. These are really distressing allegations. Distressing for the families of children who are directly affected, distressing for really all parents of children in early childhood education and distressing for the community who are watching now. We’ve called an urgent meeting of Education Ministers where this will be the top priority. Indeed, it’s a standalone meeting focused on child safety in early childhood education and care. And I am confident that we will bring a strong package of reform, because right now, the Commonwealth, the states and the territories are working shoulder to shoulder on this issue.

And one of the big reforms that we want to bring is the first nationwide register of early childhood educators. I think we’ve seen in the last few weeks just how important that is. We need to know where early childhood educators are working. We need to be able to spot patterns of behaviour that are concerning. We need to be able to monitor where our early childhood educators are. And of course, I have to stress, Kieran, that the vast majority of early childhood educators are going to work every day doing the right thing. They are taking excellent care of our nation’s children. But there are serious problems, and this register will help raise red flags where they need to be seen.

GILBERT: Well, yeah, indeed. And the vast bulk are doing a great job as well. And we know how important it is not just to the education of young ones, to give them a chance to socialise and get that early education, which research shows is so important, but also for the economy to enable workforce participation and the rest of it. The Prime Minister, in fact, says he wants it as one of his legacy items, universal child care. What needs to be done? What do you think that looks like?

WALSH: Well, it’s great to have a Prime Minister who believes in the benefits of quality universal early childhood education, because as you said, Kieran, it can be a game changer for children. We know that children who go through quality early childhood education are better prepared for school and they’re really well prepared for the opportunities that life can bring as well. Universal early education really means that every child gets access to that benefit, no matter what their parents do and no matter what their postcode is. We’re getting underway with the work already of building that universal early education system. One of the big reforms in our first term was around the workforce and making sure that we have good, quality, committed, long term, stable early childhood educators. And that 15 per cent pay rise is having big dividends right now, Kieran.

GILBERT: Ok, and before you go, I just want to play this comment, this is from Tanya Plibersek, she was speaking earlier in the day in relation to the latest scandal around Mark Latham.

TANYA PLIBERSEK: I’m sure that there are plenty of people scratching their heads about his portrait being up in the caucus room and giving consideration to whether it’s appropriate or not.

GILBERT: Yeah, the tradition is for Labor leaders, for both parties, actually, but the Labor Caucus, you’ve got all the leaders on the wall. What do you think? Should Latham’s portrait go, should it be pulled down?

WALSH: I think, Kieran, when I walk into the caucus room next week for the 48th Parliament, for the second term, Albanese Labor Government, you know, we’ll have the portraits of the former Labor leaders on the left. We also have on the right, as you walk in, a women’s wall. And that wall has the portraits of some of our amazing women leaders. And I think next week I’ll be choosing to look up at that wall of amazing women leaders who’ve done so much good work for women around the country and indeed for all Australians.

GILBERT: And would you feel better if the former leader, Mr Latham, was deposed from that? He hasn’t been a member for more than 20 years.

WALSH: Yeah, Mr Latham’s term as the Labor leader really well precedes my time. We have the portraits of the Labor leaders there on the left, we’ve got our first female Prime Minister, Julia Gillard, when you walk into the room. I think for me, Kieran, Mark Latham is not someone who’s going to get any free rent in my brain next week. I’m really focused on the achievements that we’ve made in the first term and what we can do next.

GILBERT: Minister, thanks for your time. I appreciate it.

WALSH: Thanks, Kieran.

MIL OSI News –

July 18, 2025
MIL-OSI Africa: Ambassador Han Jing Attends the Opening Ceremony of the First Invest Zambia International Conference

Source: APO

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On July 16, the first Invest Zambia International Conference was held at the Mulungushi International Conference Centre. The three-day event, themed “Driving Generational Transformative Investments through Joint Ventures and Partnerships”, attracted participation from government departments, enterprises, financial institutions, industry organizations and diplomats from over 20 countries, totaling more than 1,500 attendees.

Zambian President Hakainde Hichilema attended the opening ceremony and delivered a keynote speech. He stated that Zambia has created a stable, predictable, and investor-friendly environment with immense development potential in sectors such as mining, agriculture, tourism, manufacturing and processing. Investors from various countries, including China, have made significant contributions to Zambia’s economic and social development. The Zambian government will strive to foster a better business environment and welcomes global investors to establish joint ventures in Zambia, boosting economic growth, job creation, value addition and technological innovation.

Ambassador Han Jing was present and delivered remarks. He noted that the practical cooperation between China and Zambia has flourished dynamically under the strategic guidance of the two head of state. China is Zambia’s largest source of investment, second-largest trading partner and the largest sponsor of this conference. Chinese enterprises, active across all sectors of Zambia’s economy and society, are vital participants and contributors to the nation’s development. The Chinese government consistently requires all Chinese enterprises to operate in compliance with laws and regulations and actively fulfill social responsibilities. Simultaneously, Ambassador Han stated China’s expectation that the Zambian government and all sectors of society will create a more favorable environment for Chinese enterprises investing and operating in Zambia.

Prior to the opening ceremony, Ambassador Han Jing accompanied President Hichilema on a tour of the Chinese enterprises exhibition. During the opening ceremony, they jointly witnessed the signing of multiple investment cooperation agreements between Chinese enterprises and Zambian counterparts in fields including power construction and new energy vehicles.

Distributed by APO Group on behalf of Embassy of the People’s Republic of China in the Republic of Zambia.

MIL OSI Africa –

July 18, 2025
MIL-OSI China: Foreign Minister Lin meets with Paraguayan Foreign Minister Ramírez, cohosts reception celebrating 68th anniversary of diplomatic relations

Source: Republic of Taiwan – Ministry of Foreign Affairs

July 13, 2025
No. 239

After arriving in Paraguay in the evening of July 10, Minister of Foreign Affairs Lin Chia-lung visited the Paraguayan Ministry of Foreign Affairs on the morning of the following day to meet with Minister of Foreign Affairs Rubén Ramírez Lezcano. The two reviewed progress made on key components of the Diplomatic Allies Prosperity Project, which is being implemented by the government of Taiwan under the policy framework of integrated diplomacy. Based on mutual trust and mutual benefit, Taiwan and Paraguay are jointly promoting exchanges in economics, trade, investment, infrastructure, smart medicine, technology, education, and smart transportation. Cooperation has brought prosperity to both countries and benefited the Taiwanese and Paraguayan people.

Speaking at a joint press conference with Minister Ramírez after the meeting, Minister Lin said that Taiwan and Paraguay shared the core values of democracy, freedom, human rights, and the rule of law. He affirmed that the bilateral diplomatic relationship was rock-solid. Looking ahead, Minister Lin pledged that both countries would continue to work together to deepen interactions and collaboration in various fields and jointly enhance the well-being of their people. Minister Lin noted that this demonstrated Taiwan’s policy of values-based diplomacy was steadily developing into value-added diplomacy, showing the world that Taiwan-Paraguay ties were a model of successful cooperation.

In the evening, Minister Lin and Minister Ramírez cohosted a reception celebrating the 68th anniversary of diplomatic relations between the Republic of China (Taiwan) and the Republic of Paraguay. The event was attended by over 250 guests, including Paraguayan Supreme Court President César Diesel, Chamber of Deputies Speaker Raúl Latorre Martínez, other deputies and senators, members of the diplomatic corps, and representatives of the overseas Taiwanese community. In his remarks, Minister Lin commended the fruitful outcomes of the long-term and close partnership between Taiwan and Paraguay. He said that recent benchmark initiatives such as the Taiwan-Paraguay Smart Technology Park, the Taiwan-Paraguay Polytechnic University, the Health Information Management Efficiency Enhancement Project, and an electric bus pilot program were steadily yielding results. Noting that Taiwan was a vital link in global supply chains, Minister Lin said that Taiwan was willing to use its advantages in ICT to further deepen cooperation with Paraguay on comprehensive technological development. Minister Lin added that Taiwan was ready to assist its fraternal ally Paraguay in achieving its national blueprint for development and transformation, jointly realizing the vision of sustainability and prosperity.

In his address, Minister Ramírez thanked Taiwan for its long-term assistance in promoting the development of agriculture, livestock, public health, medicine, education, innovation, and infrastructure in Paraguay. He said that cooperation had targeted the sectors of society that were most in need, benefiting farming communities and young students. Praising the Taiwan-Paraguay Polytechnic University as a landmark bilateral cooperation project, Minister Ramírez said that more than 170 engineers had already been trained. He noted that the two countries were working together to construct campus buildings, representing their shared commitment to investing in knowledge and talent. Minister Ramírez added that Taiwan and Paraguay were jointly creating a future for the next generation by incorporating smart industries and global supply chain integration into their cooperation projects.

Paraguay is an important diplomatic ally of Taiwan. A mutual agreement on visa-free entry for ordinary passport holders between the two countries that will come into effect on July 25 is expected to further advance exchanges among the people of Taiwan and Paraguay and make investment by Taiwanese companies in Paraguay more convenient. The two nations will continue to deepen cooperation in all spheres and jointly inject new momentum into their democratic partnership.

MIL OSI China News –

July 18, 2025
MIL-OSI China: Foreign Minister Lin leads business delegation to visit Taiwan-Paraguay Smart Technology Park in Ciudad del Este

Source: Republic of Taiwan – Ministry of Foreign Affairs

July 13, 2025
No. 240

During his extensive trip to Paraguay, Minister of Foreign Affairs Lin Chia-lung visited the Taiwan-Paraguay Smart Technology Park in Ciudad del Este on July 12. He was accompanied by Paraguayan Minister of Foreign Affairs Rubén Ramírez Lezcano, Minister of Industry and Commerce Javier Giménez García de Zúñiga, Minister of Information and Communication Technologies Gustavo Villate, Executive Secretary of the Office of the President Marianna Saldívar Gadea, Deputy Minister of Public Works Emiliano Fernández, Governor of Alto Paraná César Landy Torres, President of the Taiwan-Paraguay Polytechnic University Jorge Daniel Duarte Rolon, and other officials.

The technology park originates from a commitment made by President Lai Ching-te to assist Paraguay with economic development and job creation. Then Vice President Lai made the pledge in August 2023 while visiting Paraguay as a special envoy to attend the inauguration of President Santiago Peña Palacios.

When Minister Lin took office on May 20 last year, he held in-depth talks on the project—which would have a profound impact on Paraguay—with President Peña, who was visiting Taiwan to attend President Lai’s inauguration. The two agreed that Taiwan and Paraguay would work together to make Paraguay a South American base for the smart technology industry and talent incubation.

During his visit to the park, Minister Lin remarked that promotion of the Diplomatic Allies Prosperity Project in Paraguay followed a comprehensive plan led by a national team of businesses from Taiwan. He said that the project integrated civil engineering, private 5G network architecture, and smart applications. Minister Lin added that the initiative would not only create favorable conditions for Taiwanese enterprises investing in Paraguay, but that it would also bring substantial industrial development and employment opportunities to Paraguay. He noted that the process of building the park had been a team effort. Although there had been challenges along the way, Minister Lin said that the difficulties were a source of strength for today. He stated that the newly revitalized Taiwan-Paraguay Smart Technology Park would offer Taiwanese companies the same 006688 land rental incentive provided by special zones in Taiwan. (The 006688 plan offers free rent in years one and two, a 40 percent discount in years three and four, and a 20 percent discount in years five and six.) This is the first time that the preferential policy has been made available to Taiwanese enterprises overseas. Paraguay is also the first country outside Taiwan to apply the incentive. Minister Lin said that he had long advocated for the strategy of larger enterprises guiding smaller ones, combining soft and hard tactics, promoting public-private cooperation, and facilitating internal-external exchanges. He explained that the integration of various technological, financial, and human resources would help Taiwanese industries deploy investments in Paraguay. Minister Lin indicated that Paraguay’s stable economy, abundant and cheap supplies of water and electricity, and convenient business environment could make it a base for Taiwanese enterprises entering the South American market.

For the trip, Minister Lin extended special invitations to prominent manufacturers from all areas of the supply chain to join the delegation, tour the technology park, and explore business opportunities in Paraguay. The group included representatives from the semiconductor, AI applications, smart manufacturing, smart transportation, animal husbandry, cold chain logistics, and food processing industries. It is hoped that the companies will establish a presence in Paraguay as a joint fleet, joining forces in a new flying geese pattern of development and creating a Taiwan+n model of global industrial deployment. Taiwan will work together with Paraguay to create mutual prosperity and well-being, realizing President Lai’s policy vision of making Taiwan a global economic powerhouse.

MIL OSI China News –

July 18, 2025

MIL-OSI: Coop Pank unaudited financial results for Q2 2025

Source: GlobeNewswire (MIL-OSI)

By the end of the Q2 2025, Coop Pank had 218,000 customers, increased by 5,000 customers in the quarter (+2%) and by 22,000 in the year (+11%). The bank had 103,600 active customers, increased by 1,800 (+2%) in the quarter and by 8,300 (+9%) in the year.

In Q2 2025, volume of deposits in Coop Pank decreased by 98 million euros (-5%), reaching total of 1.81 billion euros. The deliberate reduction of deposits is a result of the successful covered bond issuance carried out in the first quarter. Deposits from private clients increasing by 0.4 million euros: demand deposits decreased by 0.4 million euros and term deposits increased by 0.8 million euros. Deposits from domestic business customers decreased by 78 million euros: demand deposits decreased by 10 million euro and term deposits decreased by 68 million euros. Deposits from international deposit platform Raisin and other financing decreased by 21 million euros. Compared to Q2 2024, volume of Coop Pank’s deposits has increased by 77 million euros (+4%). In an annual comparison, share of demand deposits of total deposits has increased from 32% to 33%. In Q2 2025, the bank’s financing cost was 2.5%, at the same time last year the financing cost was 3.4%.

In Q2 2025, net loan portfolio of Coop Pank increased by 125 million euros (+7%), reaching 1.94 billion euros. Over the quarter, the strongest growth was shown in the business loans portfolio, which increased by 82 million euros (+10%). Home loans increased by 37 million euros (+5%). The volumes of leasing portfolio increased by 3 million euros (+2%) and consumer finance portfolio increased by 2 million euros (+2%). Compared to Q2 2024, total loan portfolio of Coop Pank has grown by 322 million euros (+20%).

In Q2 2025, overdue loan portfolio of Coop Pank was at the level 2.8%. A year ago, overdue loan portfolio was at the level of 2.2%.

Impairment costs of financial assets in Q2 2025 were 1.4 million euros, which is 1.1 million euros more than in previous quarter and 0.1 million euros more than in Q2 2024.

Net income of Coop Pank in Q2 2025 was 19.5 million euros, increasing by 1% in a quarterly comparison and decreasing by 5% in an annual comparison. Operating expenses reached 10.1 million euros in Q2 – operating expenses increased by 6% in the quarterly comparison and remained unchanged in the annual comparison.

In Q2 2025, net profit of Coop Pank was 6.6 million euros, which is 16% less than in the previous quarter and 17% less than a year ago. In Q2 2025, cost to income ratio of the bank was 52% and return on equity was 12.1%.

As of 30 June 2025, Coop Pank has 34,700 shareholders.

Heikko Mäe, Interim Chairman of the Management Board of Coop Pank, comments the results:

“The Estonian economy as a whole has not yet picked up new growth momentum this year. However, interest rates are stabilizing, there are signs that economic headwinds are easing, and Coop Pank’s results show that the rapid growth of a domestic bank is continuing.

On one hand, 5% inflation has reduced consumer confidence and directly affects the purchasing power of households. The rising unemployment rate, approaching 9%, is also a negative signal. On the other hand, there are positive signs in the industrial sector, where capacity utilization is increasing thanks to the recovery of export markets and lower interest costs.

In this economic environment, Coop Pank achieved strong results in the second quarter: the bank grew its loan portfolio by a record 125 million euros and is growing nearly twice as fast as the market. The strongest growth came from business loans and home loans. We see that both the manufacturing and real estate sectors are actively investing. Among home loan applicants, there is particularly strong demand for construction loans, and many large-scale repair and renovation works are in progress across homes in Estonia, financed through home loans. While business volumes are growing quickly, the bank’s operating costs have remained the same as a year ago, and credit losses are still minimal. This demonstrates that Coop Pank is operating efficiently and responsibly.

Since June, the bank has taken its cooperation with Coop retail to a new level by offering a new cashback solution to shared private customers. This is an important addition to the value proposition for joint customers and is part of the bank’s recently introduced account package upgrade.

Our results confirm that a strong local bank can grow successfully with its customers even in a challenging economic environment. We continue to provide banking services and financing solutions across all of Estonia – for households seeking stability and for businesses looking for investment opportunities.

Growth in business volumes, the high quality of the loan portfolio, cost control, and the decline in financing costs due to the interest rate environment and scale effects resulted in a strong net profit of 6.6 million euros for Coop Pank in the second quarter. The bank’s cost-to-income ratio was 52%, and return on equity was 12.1%.”

Income statement, in th. of euros	Q2 2025	Q1 2025	Q2 2024	6M 2025	6M 2024
Net interest income	18 003	17 930	19 319	35 933	38 400
Net fee and commission income	1 166	1 155	1 000	2 321	2 015
Net other income	375	225	146	600	271
Total net income	19 544	19 310	20 464	38 854	40 686
Payroll expenses	-5 917	-5 578	-5 858	-11 496	-11 267
Marketing expenses	-453	-358	-775	-811	-1 308
Rental and office expenses, depr. of tangible assets	-777	-807	-775	-1 584	-1 570
IT expenses and depr. of intangible assets	-1 724	-1 613	-1 474	-3 337	-2 879
Other operating expenses	-1 220	-1 162	-1 208	-2 382	-2 494
Total operating expenses	-10 091	-9 519	-10 091	-19 610	-19 518
Net profit before impairment losses	9 453	9 791	10 374	19 244	21 168
Impairment costs on financial assets	-1 367	-226	-1 224	-1 594	-1 800
Net profit before income tax	8 086	9 565	9 150	17 650	19 368
Income tax expenses	-1 437	-1 652	-1 152	-3 088	-2 232
Net profit for the period	6 649	7 913	7 998	14 562	17 136

Earnings per share, eur	0,06	0,08	0,08	0,14	0,17
Diluted earnings per share, eur	0,06	0,08	0,08	0,14	0,16

Statement of financial position, in th. of euros	30.06.2025	31.03.2025	31.12.2024	30.06.2024
Cash and cash equivalents	356 473	564 441	343 678	335 710
Debt securities	47 832	49 536	37 751	36 980
Loans to customers	1 943 420	1 818 109	1 774 118	1 621 000
Other assets	36 090	34 711	33 066	32 608
Total assets	2 383 816	2 466 796	2 188 614	2 026 298
Customer deposits and loans received	1 816 313	1 914 526	1 886 145	1 739 709
Debt securities issued	253 537	250 250	0	0
Other liabilities	30 645	19 096	27 683	28 121
Subordinated debt	63 148	63 363	63 148	63 148
Total liabilities	2 163 642	2 247 235	1 976 977	1 830 978
Equity	220 174	219 561	211 637	195 320
Total liabilities and equity	2 383 816	2 466 796	2 188 614	2 026 298

The reports of Coop Pank are available at: https://www.cooppank.ee/en/reporting

Coop Pank will organise a webinar on 18 July 2025 at 9:00 AM, to present the financial results of Q1 2025. For participation, please register in advance at: https://bit.ly/CP-veebiseminar-registreeru-18072025

The webinar will be recorded and published on the company’s website www.cooppank.ee and on the YouTube channel.

Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 218,000 daily banking clients. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 320 stores.

Additional information:
Paavo Truu
CFO
Phone: +372 516 0231
E-mail: paavo.truu@cooppank.ee

Attachments

The MIL Network –

July 18, 2025

MIL-OSI: BW Energy: Second quarter 2025 operational update

Source: GlobeNewswire (MIL-OSI)

Second quarter 2025 operational update

BW Energy will publish its financial results for the second quarter and first half of 2025 on 1 August 2025. Today, the company provides preliminary operational figures.

Net production attributable to BW Energy was 2.9 million barrels of oil (mmbbls) in the second quarter 2025, equivalent to 32.3 thousand barrels of oil per day (kbopd), from the Dussafu license in Gabon (73.5% working interest) and the Golfinho field in Brazil (100% working interest).

	Q2 2025	Q1 2025	Q2 2024
Production (mmbbls)	2.9	3.2	2.1
Dussafu	2.4	2.6	1.4
Golfinho	0.5	0.7	0.7

Production (kbopd)	32.3	36.0	23.6
Dussafu	26.6	28.7	15.6
Golfinho	5.7	7.3	8.0

Net volume sold (mmbbls)	2.8	3.7	1.9
Dussafu¹	2.3	3.2	0.9
Golfinho	0.5	0.5	1
¹incl. Domestic market obligations (DMO)	0.07	0.07	0.03
¹incl. State profit oil	0.30	0.32	0.17

Quarter-end stock inventory (mmbbls)	0.5	0.2
Dussafu	-0.2	-0.4
Golfinho	0.7	0.6

Average realised price (USD)	66.7	74.8	83.8
Dussafu	66.2	74.8	81.1
Golfinho	69.1	75.0	86.4

Operational costs² (USD per barrel)	20.4	16.5	28.5
Dussafu	14.3	9.9	19.8
Golfinho	49.0	42.2	45.4

2) Operating costs exclude Royalties, Tariffs, Workovers, Domestic Market Obligation purchases, Production Sharing costs in Gabon, and incorporates the impact of IFRS 16 adjustments.

Reporting

BW Energy will publish its financial results for the second quarter and first half of 2025 on 1 August at 07:00 CEST. Management will host a webcast presentation later the same day at 14:00 CEST, followed by a live Q&A session. The webcast will be available at www.bwenergy.no.

For further information, please contact:

Martin Seland Simensen, VP Investor Relations BW Energy

+47 416 92 087, martin.simensen@bwenergy.no

About BW Energy:

BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025.

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

The MIL Network –

July 18, 2025

MIL-OSI: BW Energy: Second quarter 2025 operational update

Source: GlobeNewswire (MIL-OSI)

Second quarter 2025 operational update

BW Energy will publish its financial results for the second quarter and first half of 2025 on 1 August 2025. Today, the company provides preliminary operational figures.

	Q2 2025	Q1 2025	Q2 2024
Production (mmbbls)	2.9	3.2	2.1
Dussafu	2.4	2.6	1.4
Golfinho	0.5	0.7	0.7

Production (kbopd)	32.3	36.0	23.6
Dussafu	26.6	28.7	15.6
Golfinho	5.7	7.3	8.0

Net volume sold (mmbbls)	2.8	3.7	1.9
Dussafu¹	2.3	3.2	0.9
Golfinho	0.5	0.5	1
¹incl. Domestic market obligations (DMO)	0.07	0.07	0.03
¹incl. State profit oil	0.30	0.32	0.17

Quarter-end stock inventory (mmbbls)	0.5	0.2
Dussafu	-0.2	-0.4
Golfinho	0.7	0.6

Average realised price (USD)	66.7	74.8	83.8
Dussafu	66.2	74.8	81.1
Golfinho	69.1	75.0	86.4

Operational costs² (USD per barrel)	20.4	16.5	28.5
Dussafu	14.3	9.9	19.8
Golfinho	49.0	42.2	45.4

2) Operating costs exclude Royalties, Tariffs, Workovers, Domestic Market Obligation purchases, Production Sharing costs in Gabon, and incorporates the impact of IFRS 16 adjustments.

Reporting

For further information, please contact:

Martin Seland Simensen, VP Investor Relations BW Energy

+47 416 92 087, martin.simensen@bwenergy.no

About BW Energy:

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

The MIL Network –

July 18, 2025

MIL-OSI Russia: New opportunities for NSU applicants: educational program for top IT specialists “Applied Artificial Intelligence”

Translation. Region: Russian Federal

Source: Novosibirsk State University –

An important disclaimer is at the bottom of this article.

Starting in the 2025/2026 academic year, Novosibirsk State University will launch training aimed at preparing highly qualified specialists in the field of applied artificial intelligence for the innovative economy. Students of the new program will write their own neural networks, master and develop new methods and technologies in the field of applied programming, as well as collect, process and analyze their own data sets. In the future, graduates will create products based on deep machine learning and apply the acquired knowledge in various fields of activity – from the banking sector and various high-tech companies to personalized medicine. The training of top specialists is carried out on the initiative of the Ministry of Digital Development of the Russian Federation with the participation of the Analytical Center under the Government of the Russian Federation.

These programs are based on modern employer requirements for highly qualified specialists, determined with the participation of dozens of Russian companies – leaders in the IT sector and leading universities.

The training will be focused primarily on practical results. From the first years, students will be involved in solving product problems of IT business, will be able to study cases and experience of the industry, participate in the work of project teams, master classes, undergo practical training and mandatory internship in leading IT companies and research institutes.

Companies invest in the development and implementation of programs with their own resources. More than 30% of all classroom classes with students will be conducted by invited experts from the industry, leading developers, engineers and researchers. Business representatives will act as mentors for students, become conductors of advanced knowledge, trends in the development of domestic IT technologies, help students get acquainted with corporate culture and real requirements for employees.

Training in close cooperation with industry partners and IT companies, including the anchor partner, one of the leaders of the Russian IT market — the multidisciplinary IT holding T1, as well as the Russian developer of operating systems “Alt”, will not only prepare graduates for a successful professional start, but also give them the opportunity to apply for leading positions in large industry and technology companies. The knowledge and practical experience gained with modern AI solutions will provide students with subsequent rapid career growth.

More information about the Applied Artificial Intelligence program presented on the website

All details about admission to the program and deadlines for submitting documents can be clarified in the NSU IIR consulting group:

7 (383) 373-96-52

Consult@nsu.ru

VK group

Reference:

Since 2025, within the framework of the federal projects “Artificial Intelligence” and “Personnel for Digital Transformation” of the national project “Data Economy and Digital Transformation of the State”, the Ministry of Digital Development of the Russian Federation, with the participation of the Analytical Center under the Government of the Russian Federation, has been implementing two projects to train students in educational programs for top specialists in the field of information technology and artificial intelligence.

The projects provide training for graduates with advanced competencies in the field of information technology and artificial intelligence: developers of advanced IT solutions, AI models, algorithms, analysts and data researchers. The key condition for the participation of universities in the projects is the active involvement of employers in the training process, including attracting co-financing from businesses.

Within the framework of these projects, in 2025, 36 universities from 20 constituent entities of the Russian Federation will accept more than 6 thousand students for training. By 2030, 13.7 thousand students will complete their training.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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MIL OSI Russia News –

July 18, 2025

Category: Economy

New report finds systemic water company failure and underperformance

Alan Lovell, Chair of the Environment Agency said:

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