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Category: Europe

  • MIL-OSI United Kingdom: Prime Minister’s remarks from the plenary session at the first UK-Ireland Summit: 6 March 2025

    Source: United Kingdom – Executive Government & Departments

    Speech

    Prime Minister’s remarks from the plenary session at the first UK-Ireland Summit: 6 March 2025

    Prime Minister Keir Starmer’s remarks at the plenary session at the first UK-Ireland Summit in Chesire.

    It’s fantastic to see you all here this morning.

    Today’s summit really marks a new era in the relationship between the UK and Ireland.

    I think we’ve reset our relationship, turned a page on turbulent recent years and I think today’s announcements show that we’re serious about making our partnership meaningful, deep and beneficial for working people.

    Today we’ve announced over £185 million worth of new investment into the UK and an agreement to harness the full potential of the Irish and Celtic Seas, from bolstering the security of undersea cables to mobilising private investment.

    In a moment, we’re obviously going to talk about what more we can do, this is a fantastic opportunity.

    But before that, I’d like to make some quick points.

    First, the need for a strong and settled relationship between the UK and Ireland has never been greater.

    The world has changed dramatically since the UK and Ireland last set out a vision for closer bilateral relations back in 2012.

    A lot has happened in the intervening years, and as we sit here today, I think we can all agree that our world is more unstable and uncertain than it’s been for a very long time.

    And there are huge benefits to strengthening our friendships and working together on geopolitical challenges.

    To strengthen all aspects of our security in a dangerous world.

    That’s why in the UK last week, I announced the biggest sustained rise in defence spending since the Cold War.

    An extra £13.4 billion year on year which will be invested in British industries, British jobs, British skills and British growth.

    Because we aren’t just investing in Britain’s national security but in economic security for working people as well. 

    We were discussing this morning the interrelationship between security and defence, and economic security.

    Second, you will know the UK has been working to strengthen our alliance with the EU.

    As you know, that doesn’t mean rejoining the Single Market or the Customs Union or returning to freedom of movement.

    But it does mean finding practical ways to work more closely together to boost trade, create jobs and deliver economic growth.

    And in that context, I believe the partnership between the UK and Ireland has the potential to be a really positive force.

    Third, as close neighbours and long-standing partners the benefits of stronger ties between us are huge.

    We have strong people to people connections – they are incredible and should be celebrated.

    Our supply chains are deep and intertwined, and have been for a very long time.

    And we collaborate in a great many sectors, for example, we have two MOUs on Energy Transition and Energy Supply.

    All of this points to the importance of an all-island economy.

    And the huge potential to do more – working together for our mutual prosperity and security.

    So I’m delighted this Summit will kickstart an ambitious programme of cooperation through to 2030.

    There is a huge amount on our agenda, this is really ambitious.  

    It should be seen as new era where the UK and Ireland work closer than ever and cooperate across a wide range of issues.

    That means making the most of opportunities to boost growth, jobs and trade.

    But also working together on climate change, the energy transition, security, justice, education and defence.

    We just had a business breakfast this morning and all of these issues came up, particularly the energy transition.

    And through our partnership we will act as a positive example, demonstrating the benefits of cooperation and collaboration.

    Today’s discussions are just the start.

    We’ve got really good teams on both sides, we’ve got the time, the subject matter and the ambition.

    But I want to focus on three themes as we go through this session.

    The first is: how can the UK and Ireland work together to achieve sustainable growth?

    Second, how can the UK and Ireland work together to build domestic security and promote stability? That was always on the agenda, but now it’s even more pertinent than ever.

    Finally, how can the UK and Ireland collaborate to maximise shared opportunities in the transition to Net Zero?

    They are the three themes, and areas of discussion this morning.

    Updates to this page

    Published 6 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: International Women’s Day 2025: UK statement to the OSCE

    Source: United Kingdom – Executive Government & Departments

    Speech

    International Women’s Day 2025: UK statement to the OSCE

    Ambassador Neil Holland outlines that progress towards a prosperous world free from poverty cannot be achieved without accelerating gender equality and the empowerment of all girls and women.

    Thank you, Mr Chair.

    As the United Kingdom prepares to mark International Women’s Day on 8 March, the day serves as an important reminder that gender equality benefits everyone. Progress towards a prosperous world free from poverty cannot be achieved without accelerating gender equality and the empowerment of all girls and women.

    The current global trajectory is deeply concerning. Gender equality is under threat, and the world is off track to achieve Sustainable Development Goal 5 on Gender Equality by 2030. The power of online disinformation, harm and abuse, and the harnessing of violent misogynistic narratives by influential actors and groups globally is driving new and acute threats to gender equality. Where there have been hard-won legislative safeguards protecting women’s control over their health and bodies, we are seeing these being undermined and removed. Maternal mortality rates are stagnating and, in some cases, increasing. Human rights defenders and those who have dedicated their lives to advancing gender equality face violence and intimidation. In the OSCE region, there has been horrific evidence of conflict-related sexual violence perpetrated through Russia’s illegal invasion of Ukraine.

    Growing levels of conflict and crisis disproportionately affect women and girls. They bear the brunt of conflict; humanitarian disaster; environmental degradation and food insecurity. The rights, freedoms, and wellbeing of women and girls in conflict and under repressive regimes are acutely constrained, driving intergenerational inequality and suffering.

    In this context, it is more important than ever that we stand up for gender equality. Accelerated progress on gender equality will deliver global economic growth, contribute to a safer and more secure world, and contribute to solving the energy and climate crises.

    The theme of International Women’s Day in 2025 is “Accelerate Action”. This focuses on the importance of taking swift and decisive steps to achieve gender equality. According to data from the World Economic Forum, at the current rate of progress it will take until the year 2158 – roughly five generations from now – to reach full gender parity. There is an urgent need to increase momentum in addressing the systemic barriers and biases that women face, both in personal and professional spheres.

    The UK is committed to improving the outlook for women and girls globally, including through large-scale programmes to pioneer effective approaches to ending Gender Based Violence, and through supporting women’s rights activists’ advocacy in key decision-making fora. The UK particularly champions the voices and leadership of women and girls in Ukraine, recognising the critical contribution women are making on the frontline and in communities affected by Russia’s illegal invasion.   

    Mr Chair, we can only build a fairer, freer, safer, wealthier and greener world if we put women and girls at the heart of the OSCE’s work. Women’s inclusion in leadership and meaningful decision making is essential for local, national and regional progress.

    It is vital that we, as OSCE participating States, fulfil our commitments to gender equality – as set out in the 1999 Charter for European Security, and related decisions – and ensure adequate funding for OSCE executive structures working to implement the organisation’s gender equality commitments.

    As the UK has stated previously, the principles we mark on International Women’s Day are not just for a day. Advancing gender equality is a policy from which everyone benefits. It is vital that we follow through on our commitments to ensure the equal rights of all women and girls.

    Updates to this page

    Published 6 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Council to receive capitalisation direction following independent financial review

    Source: City of Plymouth

    The Government has written to Plymouth City Council to confirm its intention to grant a capitalisation direction, with no further investigation required into a previous financial transaction. This follows an independent review of the Council’s finances. 

    Last year, the Council had requested a capitalisation direction from the Department for Levelling Up, Housing and Communities (DLUHC) to resolve issues related to a 2019/20 transaction that saved public money. The Council used a novel treatment to borrow capital funds to significantly reduce the ongoing cost of a pension deficit to the Council’s revenue budget.

    This enabled the Council to make more than £9 million savings to its revenue budget because paying the interest on the loan was cheaper than paying the deficit every year.

    Whilst the previous government was minded to issue the capitalisation, it was subject to a number of independent checks – including an examination of our finances by the Chartered Institute of Public Finance and Accountancy (CIPFA).

    Following a detailed review, CIPFA provided a positive assessment of the Council’s financial position, noting the efficient and effective financial management processes and strong and clear ownership of budgets across the council. In addition, the Council’s independent auditors also reviewed the transaction, and whilst they acknowledged it was unusual, it had not been ‘detrimental to the public purse’.

    Therefore, Jim McMahon MP, the Minister for Local Government, has written to the Council to confirm that subject to reassurances regarding what steps have been taken to put in place robust procedures for any future transactions of a similar nature, he is minded to grant the capitalisation direction, without the need for any further reviews or investigations.

    Responding to the letter, Councillor Tudor Evans, Leader of the Council, said: “We welcome the Government’s confirmation that thanks to a clean bill of health from CIPFA, they are looking to grant our request for a capitalisation direction. 

    “We have always been transparent about the transaction. We knew the transaction was novel in local government, but we were thinking outside the box to avoid cuts to local services. Particularly as costs to deliver services continue to increase, along with rising pressures on our services.

    “Over the past few months there have been those who have repeatedly accused us of foul play. Bandying around phrases such as ‘bankruptcy’ and ‘dodgy’. This Minister is very clear – no further investigation is needed.

    “There was nothing wrong with the transaction, other than it being unique. And the bottom line, it enabled us to save more than £9 million of public money, money that would have been lost for local services.

    “The Minister has asked us to provide reassurances that we have put in place robust processes and procedures to manage any future similar fees. We will now formally reply to the Minister, re-enforcing the changes that have been implemented.”

    “This capitalisation direction will allow us to put the whole matter to bed, validates our approach and reinforces our dedication to safeguarding public funds whilst delivering value for money to our residents.

    “We will now move on, continuing to prioritise the financial health of our Council while striving to provide the best possible services to our community.”

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Financial news: Changes in regulation of the cash transportation market: results of the discussion of the Bank of Russia report

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    The professional community supports the introduction of additional measures to regulate the cash collection and transportation market. Most experts spoke in favor of creating equal conditions for all participants. These are results of the discussion report of the Bank of Russia.

    The participants in the discussion confirmed the points made inreport Problems: reduced availability of cash collection and transportation services in some regions, increased unfair competition and personnel shortages in the industry.

    The Bank of Russia intends to create conditions for attracting more companies to this market. In addition to banks, other organizations that transport cash are planned to be included in the regulatory perimeter. It is envisaged to maintain a register of such carriers. It is proposed to establish liability measures for organizations that will provide money transportation services but are not included in the register.

    These initiatives will help combat unfair competition and improve the availability of services, including in remote areas.

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

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

    HTTPS: //vv. KBR.ru/Press/Event/? ID = 23431

    MIL OSI Russia News –

  • MIL-OSI Russia: Yuri Trutnev met with a detachment of volunteer civil servants from the Far Eastern regions who returned from the North-Eastern Military District

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Yuri Trutnev held a meeting with a detachment of volunteer state civil servants who returned home after fulfilling their duty to defend the Motherland.

    March 6, 2025

    Deputy Prime Minister and Presidential Plenipotentiary Representative in the Far Eastern Federal District Yuri Trutnev held a meeting with a group of volunteers – state civil servants who returned home after fulfilling their duty to defend the Motherland.

    The detachment was formed six months ago. It included 27 people: employees of the office of the Presidential Plenipotentiary Representative in the Far Eastern Federal District, the Ministry for the Development of the Russian Far East and nine regions of the Far Eastern Federal District (Buryatia – 2, Yakutia – 4, Transbaikalia – 3, Kamchatka – 2, Primorye – 2, Khabarovsk Krai – 1, Sakhalin Oblast – 3, Jewish Autonomous Oblast – 2, Chukotka – 3). The volunteers worked in two directions (Kursk and Donetsk), carried out reconnaissance of the forces and assets of the Armed Forces of Ukraine on various modifications of UAVs. All volunteers were awarded the medals of the Ministry of Defense “Participant of the Northern Military District”, and the members of the Kursk group (21 people) were additionally awarded the medal “Defender of the Kursk Region”.

    “I want to thank you for the decision you made to go into the combat zone. I know that many of you carried out tasks that risked your lives, and did them well. I am sure that the memory of your work will remain for a long time. This will help you perceive life differently, perceive the work that we do together differently. Understand more how necessary it is. Maybe you will be a little tougher. This is also normal. All this will remain in the memory of Russia and in the memory of your families. In any case, today you can confidently say that you are not just ready to defend the Motherland, but you defended it. So thank you. I bow to you all. You know that we are preparing new groups. And it will be like this until we win. Until Russia wins. We will make every effort to bring this victory closer,” said Yuri Trutnev.

    The Deputy Prime Minister reported that the Patriotic priority development area has been created to modernize and expand production facilities that manufacture military and dual-use products. “Such support is already being provided to 26 Far Eastern enterprises that manufacture FPV drones, aircraft-type UAVs, electronic warfare and reconnaissance equipment, sights, snow and swamp vehicles, hemostatic tourniquets, bulletproof vests and other products. Last year, together with the commanders of units participating in the special military operation, the tactical and technical characteristics of the manufactured products were determined. All products are tested for compliance with current conditions at the front and supplied to units of the Eastern Military District. In 2023–2024, 22.5 thousand products have already been sent to the special military operation zone, another 13 thousand products are being prepared for shipment, 27 thousand products will be manufactured and supplied by the end of the first quarter of 2025,” Yuri Trutnev specified.

    The volunteers received letters of gratitude from the Deputy Prime Minister for their service to the Motherland, their courage and personal example of selfless fulfillment of military duty during the special military operation. And in turn, they thanked Yuri Trutnev, the office of the Plenipotentiary Representative of the President of Russia in the Far Eastern Federal District, the Ministry for the Development of the Russian Far East and all Far Eastern regions for their assistance and support, and also handed over to the Deputy Prime Minister a captured drone of the Ukrainian Armed Forces that they shot down and a Victory Banner signed by all members of the detachment.

    “In April last year, Yuri Petrovich Trutnev set the task of forming a third detachment of Far Eastern civil servants to provide assistance in the SVO zone. It took about five months to select personnel and form the detachment. And this coincided with the enemy’s attack on the Kursk region. Therefore, we carried out our main task there. The detachment consisted of 27 federal employees. We left for the Kursk region in mid-August. And for six months we carried out combat missions in the SVO zone. I believe that the detachment has fully completed the tasks assigned to it, and now it has returned to its regular civilian jobs in full force. In my opinion, when the Motherland has problems, especially military ones, any man, regardless of his official position, is obliged to take up arms and stand up to defend the Fatherland. And an official has double responsibility. He is a civil servant. The state gave him a job, a salary, a position in society. “And his first duty is to come to the defense of the Motherland, if necessary,” noted Mikhail Kagan, a member of the detachment, commander of the aerial reconnaissance group, and deputy plenipotentiary representative of the President in the Far Eastern Federal District.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 06.03.2025, 10-22 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0JWTN2 (Rostel1P1R) were changed.

    Translartion. Region: Russians Fedetion –

    Source: Moscow Exchange – Moscow Exchange –

    06.03.2025

    10:22

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on 06.03.2025, 10-22 (Moscow time), the values of the upper limit of the price corridor (up to 107.93) and the range of market risk assessment (up to 1220.55 rubles, equivalent to a rate of 10.0%) of the security RU000A0JWTN2 (Rostel1P1R) were changed.

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

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

    HTTPS: //VVV. MOEX.K.M.M.

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 06.03.2025, 10-25 (Moscow time) the values of the lower boundary of the price corridor and the range of market risk assessment for the security RU000A1008P1 (Rosnft2P6) were changed.

    Translartion. Region: Russians Fedetion –

    Source: Moscow Exchange – Moscow Exchange –

    06.03.2025

    10:25

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 06.03.2025, 10-25 (Moscow time), the values of the lower limit of the price corridor (up to 82.45) and the range of market risk assessment (up to 800.0 rubles, equivalent to a rate of 11.25%) of the security RU000A1008P1 (Rosnft2P6) were changed.

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

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

    HTTPS: //VVV. MOEX.K.Mom/N78258

    MIL OSI Russia News –

  • MIL-OSI Russia: “What could be more important than feeding people?”: Vladimir Stroyev took part in a strategy session on the topic of training managers in the agro-industrial complex

    Translartion. Region: Russians Fedetion –

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

    On March 6, 2025, as part of the business program of the Exhibition and Forum of Educational Technologies, Infrastructure and Intelligent Solutions MMCO.Expo – 2025, a strategic session “Training of management personnel for rural areas and small towns: horizons for the development of the domestic system of vocational education” was held, in which the rector of the State University of Management Vladimir Stroev took part.

    Together with the rector of the State University of Management, the discussion was attended by Deputy Minister of Science and Higher Education of the Russian Federation Olga Petrova, member of the Federation Council Committee on Science, Education and Culture Igor Murog, rector of the Russian New University Vladimir Zernov, vice-president of RAO Viktor Basyuk, deputy chairman of the Association of Non-State Universities Roman Sultanov and other experts.

    Deputy Minister of Science and Higher Education Olga Petrova spoke about the importance of the educational process for training personnel for the agro-industrial complex.

    “How can we make it so that students who receive an education in Moscow and St. Petersburg come to work at enterprises that are not always located in Moscow and St. Petersburg, and very often are located in small towns? There is only one way. This is precisely the mission, the feeling of significance, value, the very same educational policy that must be clearly and correctly built,” Olga Petrova noted.

    Rector of the State University of Management Vladimir Stroyev spoke about the “Digital Village” – a large project to develop boxed solutions for farmers using various unmanned systems and new biotechnologies. Vladimir Vitalyevich also pointed out the high technology of the modern agro-industrial complex.

    “Previously, the attitude towards the agro-industrial complex was somewhat residual. A rural leader was perceived as “a man with a shovel and a plough”. Now this opinion is already considered backward and those who continue to think so do not understand how the agro-industrial complex is developing in our time. Now it is one of the most high-tech complexes. This is a huge scientific base, institutes that have been engaged in biotechnology, unmanned developments, and management decisions for many years. In order to work in the agro-industrial complex now, you need the highest level of qualification,” said Vladimir Stroyev.

    Deputy Chairman of the Association of Non-State Universities Roman Sultanov mentioned modern educational technologies.

    “The easiest way to make education accessible is online. Today, there is no other way to reach every student, applicant or schoolchild, wherever they are. If you look at the ratings and research, the private sector is leading in distance education. And if you synchronize private sector with state tasks, then the first step could be access to online education,” said Roman Sultanov.

    Subscribe to the TG channel “Our GUU” Date of publication: 03/06/2025

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

    MIL OSI Russia News –

  • MIL-OSI: ING publishes 2024 Annual Report on Form 20-F

    Source: GlobeNewswire (MIL-OSI)

    ING publishes 2024 Annual Report on Form 20-F

    ING filed today its Annual Report on Form 20-F for the year ended 31 December 2024 with the United States Securities and Exchange Commission (SEC). The 2024Form 20-F will be available on the ING website and can be downloaded from the SEC website (sec.gov) today. Shareholders or holders of ADRs can also request a hard copy of ING’s audited financial statements, free of charge, at www.ing.com/Investor-relations/Financial-performance/Annual-reports.htm.

    Note for editors

    For more on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom. Photos of ING operations, buildings and its executives are available for download at Flickr.

    ING PROFILE

    ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.

    ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

    ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING’s ESG rating by MSCI was reconfirmed by MSCI as ‘AA’ in August 2024 for the fifth year. As of December 2023, in Sustainalytics’ view, ING’s management of ESG material risk is ‘Strong’. Our current ESG Risk Rating, is 17.2 (Low Risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. Follow our progress on ing.com/climate.

    IMPORTANT LEGAL INFORMATION

    Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 (‘Market Abuse Regulation’).

    ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2024 ING Group consolidated annual accounts. All figures in this document are unaudited. Small differences are possible in the tables due to rounding. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in ‘benchmark’ indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non- compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING’s ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change, diversity, equity and inclusion and other ESG-related matters, including data gathering and reporting and also including managing the conflicting laws and requirements of governments, regulators and authorities with respect to these topics (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.

    This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information.

    Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission (‘SEC’) reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are “green” or “sustainable.” Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security.

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    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: The UK supports Ukraine in its aim to ensure Russia cannot attack it again: UK statement to the OSCE

    Source: United Kingdom – Executive Government & Departments

    Speech

    The UK supports Ukraine in its aim to ensure Russia cannot attack it again: UK statement to the OSCE

    Ambassador Holland dismisses Russian disinformation and underlines the UK’s support to Ukraine in its aim to ensure Russia cannot attack it again.

    Thank you, Mister Chair.  It will not surprise you or anyone else here to hear from me today a restatement of UK commitment to Ukraine. There has been a lot of nonsense spoken in this room about the UK’s position over recent weeks. The actions taken by the UK Prime Minister over the last week, including at the London Summit, make very clear how wrong any suggestion that the UK wants to prolong the war in Ukraine actually is.

    But the UK believes that the legal and political commitments that we signed up to after the Second World War mean something. These commitments, including the UN Charter, the Helsinki Final Act and the Charter of Paris, form a framework for our stability. They clearly state how we should expect countries to behave towards each other and to our citizens. Fundamentals such as sovereignty, territorial integrity and the right to choose alliances are not negotiable – or suspendible when inconvenient. For 80 years, when we have lived up to them, they have kept us all safe from unintended conflict in Europe, even during the Cold War.

    Russia’s invasion of Ukraine is therefore not just an unacceptable act of aggression, wrong in absolute terms and brutal and indiscriminate in the way it has been conducted. Although that is all true.  It is also a dangerous repudiation of the framework of principles and commitments that keep us safe. And to allow such aggression to be rewarded is a terrible example to set.  It would encourage more of the same behaviour, in this part of the world and elsewhere.

    We have heard a lot about what the Russian state wants over the last few weeks.  But for peace, when it comes, to be lasting, Ukraine needs to be confident that the Russian aggression cannot happen again.  The UK does not like war.  We do not like our friends being at war.  We do not seek to prolong war. But we do support Ukraine in its aim to ensure Russia cannot attack it again and will continue to support Ukraine until it believes the peace on offer is one which guarantees its security in a sustainable way.  That means they must be able to negotiate from a position of strength. This has always been the UK’s position, before and during this unnecessary war. Ukraine is a sovereign country that can decide its own future without interference from other countries.

    Mister Chair, as ever Russia is producing a blizzard of disinformation to distract us from the facts. The facts are that Russia invaded Ukraine without provocation, that tens of thousands of soldiers on both sides have died unnecessarily and that this could stop tomorrow if Russia made the right choices and lived up to its commitments.

    Mister Chair, the UK’s position is simple to understand. Aggression should not be rewarded.  The principles we have all signed up should be protected. A peace should be sustainable. And Ukraine should be free to determine its own future.  That is a strategic vision worth holding out for.

    Thank you.

    Updates to this page

    Published 6 March 2025

    Invasion of Ukraine

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Kerbside textiles recycling proves a hit in Oxford 

    Source: City of Oxford

    Oxford’s new kerbside textile recycling service has had an outstanding start.

    The first set of figures showing a strong public response. Launched in January, the free collection service allows residents to recycle their old textiles conveniently from home. 

    In just the first month of operation, the scheme collected an impressive 1,771kg of textiles through door-to-door collections, while the new textile bring bank at Rose Hill Community Centre added another 310kg.  

    Additionally, 510kg of pillows and duvets were collected, ensuring that these materials were given a second life instead of ending up in landfill. These items are weighed separately as they are processed differently.

    The scheme provides all Oxford residents with an easy way to recycle unwanted textiles, supporting efforts to reduce household waste, deter fly-tipping, and protect the environment. 

    A partnership for sustainability 

    The textile recycling service is operated in partnership with ODS and Recycling Solutions, a family-run company that collaborates with charities and local authorities across the UK. In Oxford, Recycling Solutions supports the Thames Valley Air Ambulance by raising funds through the sale of second-hand clothing. 

    Reducing waste and supporting communities 

    Textiles currently account for approximately 3% of household waste, with over a million tonnes going to landfill nationally each year. This new service ensures that, in Oxford, textiles are sustainably reused or repurposed, reducing environmental impact while also providing affordable clothing worldwide. 

    How the service works 

    Residents can arrange a kerbside collection through Recycling Solutions, who will provide details on when and where to leave items. Weekly collections are scheduled based on residents’ locations in Oxford. For more information and to book a collection, visit the Recycling Textiles webpage.  

    Items accepted include: 

    • clothing and shoes 

    • duvets, pillows, cushions, blankets, towels  

    • handbags 

    • wellington boots 

    Items not accepted include: 

    • rugs and mats. 

    All items must be clean and dry before collection. 

    Comment 

    “This new recycling service has really taken off and started to make a significant difference in only a short space of time. 

    “We had to close the on-street bring banks some time ago as they were becoming a target for fly-tippers. Now, together with our partners ODS and Recycling Solutions, we’re filling the recycling gap and at the same time providing a much-needed income stream for the Thames Valley Air Ambulance.” 
    Councillor Nigel Chapman, Cabinet Member for Citizen Focused Services and Council Companies 

    Additional recycling options 

    Residents can also drop off textiles at a new 24/7 recycling bank at Rose Hill Community Centre or take them to Redbridge Household Waste Recycling Centre.  

    Usable textiles can be donated to charity shops, shared with friends or family, sold in second-hand marketplaces, or repurposed creatively at home. 

    A free and inclusive service 

    The kerbside textile recycling service is completely free for Oxford residents, with no minimum amount required for collection. 

    An ethical recycling approach 

    Recycling Solutions ensure that collected clothing is ethically reused or recycled. High-quality items are sold to second-hand traders, primarily in Ukraine, while ‘end-of-life’ garments are repurposed into industrial materials, insulation, and new fibres.  

    The company follows a zero-waste policy, with proceeds benefiting Thames Valley Air Ambulance. 

    MIL OSI United Kingdom –

  • MIL-OSI Europe: AFRICA/DR CONGO – “Insecurity prevails in Bukavu where not a night goes by without three or four bodies found on the street”

    Source: Agenzia Fides – MIL OSI

    Kinshasa (Agenzia Fides) – “Not a night goes by in Bukavu without finding three or four bodies on the street. Bodies also emerge from the lake,” report local church sources in Bukavu, the capital of the Congolese province of South Kivu (in the east of the Democratic Republic of Congo), which fell into the hands of the M23 rebel movement in mid-February (see Fides, 17/2/2025). Our sources, who have requested anonymity for security reasons, describe a city where the law of the strongest prevails. “Criminal gangs are still active, but they do not usually kill…. Small or large thefts are committed by these gangs, but the major looting is carried out with impunity by the M23 and its allies: a bank was emptied and three cassiterite deposits were looted”.It is also noted that “the looting that the city experienced before Sunday, February 16, the day of the official entry of the M23, was not only due to young people who found the weapons left behind by the fleeing soldiers of the regular Congolese army (FARDC). The M23 had already entered the city on Friday, February 14, and the major looting in the Kadutu market, accompanied by devastation, took place on Saturday, February 15”.The report also shows how the looting by the occupiers is taking place on a large scale: “The last known theft of minerals took place in the night of Thursday to Friday, February 27-28, in the Nguba district: 34 already sealed barrels of cassiterite ready for sale were rolled into large buses and loaded in the middle of the night after tying up two guards and beating and abducting two others, who were only released on Sunday. On the radio, the new authorities called on the population to report the looting. ‘To whom?’ asked a dejected operator of the plant.” “But when armed bandits attack and people call the M23 soldiers, they come and ruthlessly shoot everyone they meet in the area, even if it is only eight in the evening. They shoot to kill, they say they have no bullets to waste. On March 4, the Red Cross buried some of the victims of the February 27 attacks in the Bagira cemetery (see Fides, 27/2/2025), other bodies were recovered by the families. The new authorities gave an envelope of money to the families of those killed, but they say they have little money because the war is expensive”. “There are hardly any cars on the road, apart from taxis and old cars. The better ones have either already been taken over by the M23 or are kept hidden. If you are driving a Land Cruiser, they can easily stop you and ask for the keys. Cars are sent to Rwanda, just like looted minerals. So if there was any need for proof in whose name this war is being fought…” The insecurity has practically brought social life in Bukavu to a standstill. The sources report that “classes in schools have not resumed because parents are afraid to let their children leave the house; moreover, they would not know how to pay the quarterly fees in the face of increasing misery. And: who will pay the teachers’ salaries? The journalists have been told what to do: sing the glory of the occupiers, not to spread information from Kinshasa, but only their information, no longer speak of ‘occupied zones’ but of ‘liberated zones’, no ‘press Union’, they themselves will give the journalists an ID, each media outlet will have to declare its location”. “And on the streets, a cloak of sadness lies over everyone, which is very unusual for the Congolese people,” conclude our sources. (L.M.) (Agenzia Fides, 6/3/2025)
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    MIL OSI Europe News –

  • MIL-OSI Europe: ASIA/PHILIPPINES – Bangsamoro: dialogue initiatives to counter the increase in violence in the Muslim region

    Source: Agenzia Fides – MIL OSI

    Foto di Zeke Tucker su Unsplash

    Zamboanga City (Agenzia Fides) – The increase in violence in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), in the south of the Philippines, is a factor that worries society, public opinion and religious leaders on the island of Mindanao. According to the research institute “Council for Climate and Conflict Action Asia” (CCAA), in 2024 there were 2,570 incidents of violence in the region (the highest number in seven years), 24% more than the previous year, indicating instability and discontent ahead of the elections. While the ultimate goal of the long negotiation process between the government in Manila and the local guerrilla groups is a stable and lasting peace, this development is a cause for concern and the postponement of the elections in Bangsamoro has been confirmed. They will no longer be held in May 2025 as planned (as in all other regions of the country where the mid-term elections, which include elections to the regional and local assemblies, are held), but only in October 2025. The postponement was decided and approved by President Ferdinand Marcos Jr. after the Supreme Court recently ordered the exclusion of the Sulu Archipelago from the Autonomous Region, which entails a redistribution of seats and candidates in the provinces of the BARMM (currently the provinces of Lanao del Sur, Maguindanao, Basilan, Tawi-Tawi, as well as the cities of Marawi, Lamitan, Cotabato and 63 villages in North Cotabato). “Violence in the region has been steadily increasing since 2021 and there are no signs of slowing down,” says the CCAA, noting that “violence will continue unless the phenomenon of illicit weapons is addressed and governance is strengthened.” In addition, the institute adds that as the election approaches, “the risk of an even greater wave of violence is high” as there are at least 28 ongoing feuds between clans, which are the main source of conflict in the region. The research group calls on the Commission on Elections (COMELEC) to take appropriate measures to actively address the violence in “hot spots” such as Cotabato City, Datu Odin Sinsuat, Mamasapano, Marawi City and Malabang, while disarming the groups that are still armed.In this context, the religious leaders of Mindanao, who are united in the Mindanao Religious Leaders Conference (MiRLeC), reiterated their commitment to peace and sustainable development. Among the organizations that work for peace and promote interreligious dialogue is the “Silsilah” movement for Islamic-Christian dialogue, which, on the occasion of Ramadan, the holy month of Islam, which began on March 1, published a message in which it recognized the “special time of purification of the heart and love of neighbor” and recommended to Christians and Muslims the “spirituality of life in dialogue”. “This year, Ramadan in the Philippines coincides with the political election campaign, marked by numerous and alarming acts of violence, and with the reality of violence throughout the world, which calls us to reflect, pray and act,” says the message for the Muslim fasting month.”On this occasion,” continues the text, sent to Fides, “we are invited to reflect: why war? Why not peace? We are brothers and sisters. We also know that in times of violence there are also silent and powerful acts of love that transcend the boundaries of religions and cultures. This too is something we can confirm from our experience and have documented on the occasion of Silsilah’s 40th anniversary in 2024.”The movement is also celebrating the 25th anniversary of the “Chain of Harmony” initiative, an interfaith prayer initiative launched in 2000 when the Manila government launched “total war” in Mindanao. While today “alarming elements” are emerging, concludes Silsilah, we must “remember that God is love and loves everyone”. (PA) (Agenzia Fides, 6/3/2025)
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  • MIL-OSI Europe: ASIA/HONG KONG – PIME missionary Giosuè Bonzi leaves Hong Kong: Sixty years of commitment to people with disabilities

    Source: Agenzia Fides – MIL OSI

    Thursday, 6 March 2025

    Hong Kong (Agenzia Fides) – Father Giosuè Bonzi of the Pontifical Institute for Foreign Missions (PIME), an Italian missionary from Bergamo, has left Hong Kong and his physically and mentally disabled children and young people at the age of 85 and returned to his home in Lombardy. With the appreciation and affection of Hong Kong Catholics and non-Catholics, who were equally moved and sad, Father Bonzi returned to Italy in mid-February after 60 years of missionary work in Hong Kong. His children and young people accompanied him to the airport to say goodbye.According to “KungKaoPo”, the weekly newsletter of the Diocese of Hong Kong, Father Bonzi has won everyone over with his unconditional love and tireless spiritual commitment to the weakest in society. His work has also been recognized by the civil authorities, who have awarded him various honors over the past decades, an important sign of recognition for the valuable service of the missionary and his collaborators. He, who arrived in Hong Kong in 1967, barely a year after his ordination, acknowledges the praise with the modest words: “What did I do in Hong Kong? Nothing special,”.Father Bonzi founded “Fu Hong Society”, and throughout his life he worked for the weakest of Hong Kong’s highly technological and developed society, welcoming them into his centers for the disabled, about fifty in number. In the days of farewell, the missionary took part in masses and celebrations organized by various communities to express their gratitude and love for this man who will leave a legacy of compassion, faith and dedication, but above all the gift of hope for the last.Father Giosuè Bonzi, a native of San Giovanni in Bianco in the province of Bergamo, was born in 1940. He entered the Pontifical Institute for Foreign Missions (PIME) and was ordained a priest in 1966. His mother would have liked to see him become a diocesan priest, perhaps as a parish priest in one of the churches in the surrounding area. Instead, he was immediately sent to the mission in Hong Kong, where he worked first in the education field as director of an institute and then in the health field as chaplain of the “Caritas Medical Centre” hospital. For several years he was director of pastoral care for people with disabilities.According to the website of the “Fu Hong Society”, after more than half a century of existence, the Society, founded in 1977, currently has more than 70 service units divided into different categories and programs, providing rehabilitation services to more than 4,000 people with disabilities, including people with intellectual disabilities, autism disorders and people with physical disabilities. In addition to inpatient care, the Catholic organization also offers programs for outpatient rehabilitation, professional training and community support for people with disabilities. The founder of the society himself has always lived with disabled children, to whom he dedicated his life in the name of Christ’s charity. (NZ) (Agenzia Fides, 6/3/2025)
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    MIL OSI Europe News –

  • MIL-OSI China: Macron proposes to discuss nuclear deterrence for Europe

    Source: China State Council Information Office 3

    Flags of European Union (EU) and Ukraine are seen at the EU headquarters in Brussels, Belgium, Feb. 24, 2025. [Photo/Xinhua]

    French President Emmanuel Macron announced on Wednesday that he has decided to open strategic discussions with European allies on potential nuclear protection.

    “Responding to the historic call of the future German chancellor, I have decided to open a strategic debate on the protection of our allies in Europe through our (nuclear) deterrent,” Macron said in a televised address.

    Speaking on Europe’s defense and Ukraine, he emphasized that France’s nuclear deterrent has played a role in maintaining peace and security in Europe.

    On Ukraine, Macron asserted that the country has “the right to peace and security for itself, and it is in the interest of the European continent’s security.” He stressed the need to ensure that any future peace, once achieved, is sustainable.

    “This will certainly require long-term support for the Ukrainian army and could potentially involve deploying European forces,” he said.

    However, Macron clarified that such European forces would not engage in frontline combat but would instead help ensure that peace is upheld once secured.

    He also announced that France would host a meeting next week with countries willing to contribute to future European forces to be deployed in Ukraine.

    MIL OSI China News –

  • MIL-OSI China: Ukraine intends to take 1st steps towards peace soon

    Source: China State Council Information Office 3

    This photo taken on Feb. 27, 2022 shows smoke rising in the sky in Kiev, Ukraine. [Photo/Xinhua]

    Ukrainian President Volodymyr Zelensky said Wednesday that his country plans to take the first steps towards peace in the near future.

    “The first steps on the path to a just and lasting peace are incredibly important. We want to move forward speedily, in cooperation with the United States and all of Europe,” Zelensky said on social media platform X.

    Meanwhile, Andriy Yermak, head of the President’s Office, announced that he had discussed steps towards peace in a phone conversation with U.S. National Security Adviser Mike Waltz.

    “We exchanged views on security issues and the coordination of positions within the framework of bilateral relations between Ukraine and the U.S.,” Yermak said on Telegram.

    He added that Ukrainian and U.S. teams are set to meet soon to “continue this important work.”

    MIL OSI China News –

  • MIL-OSI Security: NMRTC Twentynine Palms Sailors sharpen skills and build camaraderie at shooting event

    Source: United States Navy (Medical)

    Sailors from Navy Medicine Readiness and Training Command (NMRTC) Twentynine Palms gathered for a team building, morale, and marksmanship event on Feb. 26, 2025, reinforcing weapons proficiency and strengthening unit cohesion. The event provided Sailors across various rates with the opportunity to practice shooting, many of whom do not regularly handle firearms in their daily military duties.

    “The shooting event was great for team building and served as an opportunity to exercise our lethal warfighting capabilities,” said Religious Program Specialist 3rd Class Diego Escalante from San Diego, Calif.

    Participants used the event to emphasize the importance of basic firearms knowledge and safety for all service members, regardless of their occupational specialties.

    “Being in the military, I feel all rates should have at least some familiarity with basic firearms and firearms safety, which this event allowed us to cover,” said Master-at-Arms 2nd Class Samuel Schoep, from Hudson, New York. “Shooting is a requirement for my rate, so being able to get out onto the range helps keep my required skills fresh.”

    The event was especially beneficial for Sailors in roles where firearms proficiency can make up a component of their rate’s responsibilities.

    “As an RP (Religious Program Specialist), we are expected to be skilled with firearms due to chaplains not being able to fire or carry. We serve as their protection and point man.” Escalante said. “In this unit, my mission changes within the dynamic of a hospital environment, so I don’t use firearms regularly. However, that won’t always be the case at future duty stations.”

    “For my rate I must qualify for Marksman annually on the Navy Handgun Qualification Course, so having the opportunity helped me brush up on my shooting,” added Master-at-Arms Seaman Apprentice Thuan Nguyen from Bradenton, Florida.

    For a hospital corpsman, shooting proficiency can be critical in operational environments where they may be required to provide medical aid in combat situations. Hospital Corpsman 1st Class (SW) Logan Wilkerson, from Columbus, Georgia, highlighted why corpsmen need to be capable of being armed in the line of duty.

    “For the general population, the thought of medical personnel using a weapon is generally unheard of,” Wilkerson said. “However, in the military, a Hospital Corpsman providing life-saving measures in a combative environment is very likely. When caring for an injured service member, we (corpsmen) can turn to the Hospital Corpsman Pledge — specifically, ‘I will not knowingly permit harm to come to any patient.’ To me, this means defending my patient.”

    Wilkerson explained the historic importance of firearms use for corpsmen by referencing the heroic actions of Hospital Apprentice 1st Class Robert E. Bush, the namesake of the hospital where he serves, who received the Medal of Honor for his valor in the Battle of Okinawa.

    “With the (plasma) bottle held high in one hand, Bush drew his pistol with the other and fired into the enemy ranks until his ammunition was expended,” Wilkerson recounted. “History has proven that familiarity and practice with putting rounds down range can mean the difference between life and death for a corpsman’s patient. After all, a common saying from corpsmen is that one of the best forms of medicine is rounds down range.”

    The event also served as a platform for fostering camaraderie among service members beyond their typical work environments. Lt. Jason Wang, Operations Management Department Head and Healthcare Administrator from Sylmar, Calif., shared that one of the reasons he set up the event was to offer a unique way for colleagues to bond.

    “There are a lot of private gun owners or individuals — both civilian and active duty — who know how to shoot and safely handle a gun,” Wang said. “Bringing together individuals who enjoy and share this hobby allows co-workers to relate to each other in ways beyond just their job functions.”

    Twentynine Palms provides unique opportunities for shooting practice due to its desert environment and access to range facilities on base. While some service members expressed that shooting ranges are available at most duty stations, the terrain in Twentynine Palms offers a distinctive experience and more access to opportunities.

    “The major difference from other duty stations is the terrain,” Wilkerson said. “Out here in the desert, with the mountains and rocks as backdrops, it doesn’t take much imagination to put yourself in a different time and place.”

    “The environment allows more opportunities to shoot in the desert and on base than other larger metropolitan bases. Additionally, the base here is more relationship and network-based which creates opportunities in comparison to larger bases where it is easy to get lost on who is who in the zoo,” added Wang.

    Sailors expressed a desire for more frequent opportunities to refine their weapons-handling skills, recognizing the value in staying proficient even if their current assignments do not require regular firearms use.

    “The concept of firearms can be foreign to many and basic bootcamp isn’t remotely enough to gain comfortability and skill. Different rates and units come with different priorities,” Escalante explained. “In a place like a naval hospital, even though our corpsmen often serve a different mission here, at least one to two refresher courses per year would only benefit us as service members.”

    The event underscored NMRTC Twentynine Palms’ commitment to bolstering operational readiness, morale, and unit cohesion.

    MIL Security OSI –

  • MIL-OSI: Regula Increases Its Global User Base by 52% Amid Rising Identity Verification Demands

    Source: GlobeNewswire (MIL-OSI)

    RESTON, Va., March 06, 2025 (GLOBE NEWSWIRE) — Regula, a global developer of forensic devices and identity verification (IDV) solutions, is now providing advanced IDV software technologies to 152 million online users worldwide. This new milestone marks an impressive growth of 52% compared to the previous year. Among the main drivers of wider IDV adoption, Regula points out the rising need for advanced anti-fraud solutions, regulatory shifts, and digital transformation initiatives.

    Countries with the most notable Regula’s client base increase, as up to the beginning of 2025

    The increasing adoption of Regula’s document and biometric verification solutions highlights a growing demand for secure and user-friendly IDV workflows in key sectors, including finance, e-commerce, government services, travel, and more. This strong year-to-year growth demonstrates that businesses are proactively adapting to the rapidly changing ID verification landscape with Regula’s complete IDV solution, which includes document authenticity checks, biometric verification, liveness detection, and deepfake prevention.

    Regional highlights

    From stricter KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations in North America and Europe to erupting digital identity initiatives in Asia to booming fintech services in Latin America and the Middle East, identity verification is becoming an essential part of digital interactions. Here’s how different markets are driving Regula’s IDV adoption growth.

    North America

    • Key drivers: Rising fraud incidents and threats (according to Regula’s survey,* 96% of US businesses faced identity fraud in 2024) plus regulatory pressure.
    • Country highlight: The US (+55%) – Increased adoption of AI-driven fraud prevention and stronger authentication in financial services and e-commerce.

    Europe

    • Key drivers: Stricter regulations (GDPR, AMLD), the European Digital Identity Wallet initiative, and fintech expansion.
    • Country highlights:
      • The UK (+122%) – Post-Brexit compliance shifts and growth in digital banking.
      • Germany (+123%) – Strong data privacy laws and high demand for authenticity checks in digital scenarios.

    META (Middle East, Türkiye, and Africa)

    • Key drivers: Digital government initiatives, fintech growth, and a push for AI-driven security.
    • Country highlight: The UAE (+112%) – Rapid adoption of digital identity verification solutions due to its ambitions to become a leader in AI, fintech, and smart city innovations.

    APAC (Asia Pacific)

    • Key drivers: Booming digital payments, financial inclusion efforts, and strong government support for digital identity solutions.
    • Country highlights:
      • Singapore (+102%) – A financial hub with widespread digital banking and government-backed digital ID systems like Singpass.
      • Australia (+188%) – AML regulations and age verification initiatives.

    Latin America

    • Key drivers: Explosive fintech growth, mobile banking expansion, and high fraud rates requiring stronger ID verification techniques.
    • Country highlights:
      • Mexico (+156%) – Rapid adoption of digital payments and financial services.
      • Colombia (+241%) – The fastest-growing market, driven by fintech expansion and government-led digital ID initiatives.

    “The growth across these markets is a direct response to regulatory developments, digital transformation efforts, and the increasing sophistication of fraud – all the factors that make identity verification paramount. As businesses and governments worldwide accelerate their adoption of digital solutions, they face the complex challenge of ensuring security and compliance while maintaining a low-effort user experience. Additionally, the ever-rising cyber and identity fraud threats have made advanced IDV not just a regulatory requirement but a fundamental business necessity. By leveraging our decades-long expertise in forensic level document and biometric verification, we deliver comprehensive, future-proof solutions and help our customers build secure and user-friendly IDV workflows,” says Henry Patishman, Executive VP of Identity Verification Solutions at Regula.

    No compromise on security, efficiency, or compliance

    To help businesses and government institutions fight identity fraud effectively, Regula offers a complete IDV solution, comprising Regula Document Reader SDK and Regula Face SDK. This on-premise software performs extensive document and biometric authenticity checks, enables data cross-validation to spot discrepancies that might indicate fraud, and ensures sensitive personal data privacy.

    With more than 14,800 identity document templates from 251 countries and territories, Regula provides businesses with the industry’s most comprehensive ID template database. This asset allows for accurate identity verification regardless of the provided document, which is especially important for financial institutions, travel companies, and global businesses.

    Regula’s ID verification software is fully compatible with most third-party document readers, allowing organizations to adopt advanced offline ID verification without investing in new hardware.

    Also, Regula’s IDV technologies are inherently future-ready, supporting emerging standards such as ISO/IEC 39794-5 for biometric passport verification and Digital Travel Credentials (DTCs) aimed at streamlining travel and border crossing.

    Regula’s hardware and software solutions are trusted by more than 1,000 organizations all over the world. Among them:

    • UBS, the world’s largest private bank, has implemented a robust customer onboarding system powered by Regula’s comprehensive ID verification technologies.
    • Checkport, a Swiss aviation security provider, utilizes Regula’s identity verification solutions to enhance passenger screening and security protocols.
    • Pearson VUE, a global leader in online testing, relies on Regula to authenticate candidate identities for high-stakes remote exams.

    To learn more about Regula’s technologies and offerings, please visit Regula’s website.

    *The research was initiated by Regula and conducted by Sapio Research in August 2024 using an online survey of 575 business decision-makers across the Financial Services (including Traditional Banking and Fintech), Crypto, Technology, Telecommunications, Aviation, Healthcare, and Law Enforcement sectors. The respondent geography included Germany, Mexico, the UAE, the US, and Singapore. Find more insights on deepfake fraud in the survey report.

    About Regula

    Regula is a global developer of forensic devices and identity verification solutions. With our 30+ years of experience in forensic research and the most comprehensive library of document templates in the world, we create breakthrough technologies for document and biometric verification. Our hardware and software solutions allow over 1,000 organizations and 80 border control authorities globally to provide top-notch client service without compromising safety, security, or speed. Regula has been repeatedly named a Representative Vendor in the Gartner® Market Guide for Identity Verification.

    Learn more at www.regulaforensics.com.

    Contact:
    Kristina – ks@regulaforensics.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/47df2109-e416-4f49-a77f-7a950ba1d8c1

    The MIL Network –

  • MIL-OSI: Tindeco Financial Services AG Awarded “Best Wealth Management Automation Solution” by Global Private Banker

    Source: GlobeNewswire (MIL-OSI)

    ZUG, Switzerland, March 06, 2025 (GLOBE NEWSWIRE) — Tindeco Financial Services AG, located at Gotthardstrasse 20, 6300 Zug, Switzerland, is proud to announce that it has been honored with the “Best Wealth Management Automation Solution” award by Global Private Banker. This prestigious accolade recognizes Tindeco’s revolutionary end-to-end technology that is transforming the way asset and wealth managers operate.

    Tindeco’s innovative platform empowers wealth and asset managers to design, test, implement, and run systematic investment strategies on a highly automated basis. The solution delivers three key benefits:

    • Unparalleled Scalability: Scale businesses to previously unimaginable levels, eliminating costs and enabling growth without additional expenses.
    • Custom Investment Solutions at Scale: Automation delivers highly customizable, value-added strategies, democratizing access to bespoke portfolios.
    • Rapid Innovation with Tindeco Strategy Designer: A unique no-code, drag-and-drop interface integrates analytics, data, and calculation engines from Tindeco and its partner ecosystem, allowing swift development and deployment of systematic strategies that can be supported by our AI Co-pilot.

    Moreover, managers can choose which steps or workflows to automate while tailoring other processes for their custom requirements, maintaining hands-on control where oversight is desired.

    Tindeco’s platform also incorporates a robust compliance rules engine to ensure portfolios remain compliant, with automated rebalancing when rules are breached. Its Order Management System (OMS) can send orders to FIX venues or integrate with existing systems, providing connectivity without replacing current infrastructure.

    About Tindeco Financial Services AG

    Tindeco Financial Services AG is a technology firm offering disruptive technology to transform the asset and wealth management industries. Founded in 2010 by seasoned investment professionals from banks, asset managers, and quantitative trading firms, Tindeco has developed a cloud‑based platform that empowers managers to rapidly design, test, and deploy custom investment strategies at scale and manage them on a highly automated basis.

    Headquartered in Switzerland, Tindeco has been recognized as one of the world’s 100 most innovative WealthTech companies (FinTech Global, 2020-2024).

    Media Contact:
    Samuel Mueller
    Chief of Staff
    Tindeco Financial Services AG
    Gotthardstrasse 20, 6300 Zug, Switzerland
    info@tindecofs.com

    For more information, please visit www.tindecofs.com

    The MIL Network –

  • MIL-OSI: NXP Semiconductors Announces Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    EINDHOVEN, The Netherlands, March 06, 2025 (GLOBE NEWSWIRE) — As part of its ongoing capital return program, NXP Semiconductors N.V. (NASDAQ: NXPI) today announced that its board of directors has approved the payment of an interim dividend. The actions are based on the continued and significant strength of the NXP capital structure, and the board’s confidence in the company’s ability to drive long-term growth and strong cash flow.

    The board of directors has approved the payment of an interim dividend of $1.014 per ordinary share for the first quarter of 2025. The interim dividend will be paid in cash on April 9, 2025, to shareholders of record as of March 19, 2025.

    Taxation – Cash Dividends
    Cash dividends will be subject to the deduction of Dutch dividend withholding tax at the rate of 15 percent, which may be reduced in certain circumstances. Non-Dutch resident shareholders, depending on their circumstances, may be entitled to a full or partial refund of Dutch dividend withholding tax. If you are uncertain as to the tax treatment of any dividends, consult your tax advisor.

    About NXP Semiconductors
    NXP Semiconductors N.V. (NASDAQ: NXPI) is the trusted partner for innovative solutions in the automotive, industrial & IoT, mobile, and communications infrastructure markets. NXP’s “Brighter Together” approach combines leading-edge technology with pioneering people to develop system solutions that make the connected world better, safer, and more secure. The company has operations in more than 30 countries and posted revenue of $12.61 billion in 2024. Find out more at www.nxp.com.

    Forward-looking Statements
    This document includes forward-looking statements which include statements regarding NXP’s business strategy, financial condition, results of operations, market data, as well as any other statements which are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include the following: market demand and semiconductor industry conditions; our ability to successfully introduce new technologies and products; the demand for the goods into which NXP’s products are incorporated; trade disputes between the U.S. and China, potential increase of barriers to international trade and resulting disruptions to NXP’s established supply chains; the impact of government actions and regulations, including restrictions on the export of US-regulated products and technology; increasing and evolving cybersecurity threats and privacy risks, including theft of sensitive or confidential data; the ability to generate sufficient cash, raise sufficient capital or refinance corporate debt at or before maturity to meet both NXP’s debt service and research and development and capital investment requirements; our ability to accurately estimate demand and match our production capacity accordingly or obtain supplies from third-party producers to meet demand; our access to production capacity from third-party outsourcing partners, and any events that might affect their business or NXP’s relationship with them; our ability to secure adequate and timely supply of equipment and materials from suppliers; our ability to avoid operational problems and product defects and, if such issues were to arise, to correct them quickly; our ability to form strategic partnerships and joint ventures and to successfully cooperate with our alliance partners; our ability to win competitive bid selection processes; our ability to develop products for use in customers’ equipment and products; the ability to successfully hire and retain key management and senior product engineers; global hostilities, including the invasion of Ukraine by Russia and resulting regional instability, sanctions and any other retaliatory measures taken against Russia and the continued hostilities and the armed conflict in the Middle East, which could adversely impact the global supply chain, disrupt our operations or negatively impact the demand for our products in our primary end markets; the ability to maintain good relationships with NXP’s suppliers; and a change in tax laws could have an effect on our estimated effective tax rate. In addition, this document contains information concerning the semiconductor industry, our end markets and business generally, which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the semiconductor industry, our end markets and business will develop. NXP has based these assumptions on information currently available, if any one or more of these assumptions turn out to be incorrect, actual results may differ from those predicted. While NXP does not know what impact any such differences may have on its business, if there are such differences, its future results of operations and its financial condition could be materially adversely affected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak to results only as of the date the statements were made. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after we distribute this document, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in our SEC filings. Copies of our SEC filings are available on our Investor Relations website, www.nxp.com/investor or from the SEC website, www.sec.gov.

    For further information, please contact:                                                                                                                                                       

    Investors:  Media:
    Jeff Palmer  Paige Iven
    jeff.palmer@nxp.com paige.iven@nxp.com
    +1 408 205 0687  +1 817 975 0602
       

    NXP-Corp

    The MIL Network –

  • MIL-OSI United Kingdom: Advanced attack drones for Ukraine in new deal struck by UK government and Anduril UK

    Source: United Kingdom – Executive Government & Departments

    Press release

    Advanced attack drones for Ukraine in new deal struck by UK government and Anduril UK

    Ukraine’s armed forces will be backed by more advanced attack drones to tackle Russian aggression in the Black Sea, following a deal struck by the UK government and an Anglo-American defence tech company.

    Defence Secretary John Healey visits Anduril in Washington DC

    • The deal with Anduril UK has been agreed ahead of the Defence Secretary’s meeting with his US counterpart Pete Hegseth at the Pentagon today.
    • During his visit to Washington D.C., John Healey MP met with staff at Anduril’s facility.
    • The UK continues to work with allies to put Ukraine in the strongest position for peace as it continues to defend itself against Russian aggression.

    Defence Secretary John Healey MP visited Anduril, the firm supplying the drones, in Washington D.C. ahead of a meeting with his US counterpart Pete Hegseth at the Pentagon today.

    The deal follows a meeting of world leaders in London last week, when the Prime Minister and allies agreed it was essential that military support continues for Ukraine to put the country in the strongest possible position for peace as it continues to defend itself from Russian aggression.

    The new contracts, totalling nearly £30 million and backed by the International Fund for Ukraine, will result in Anduril UK supplying cutting-edge Altius 600m and Altius 700m drones – known as loitering munitions – that are designed to monitor an area before striking targets that enter it.

    The Defence Secretary visited Anduril yesterday, where he spoke with a number of American and British staff. Founded in California, Anduril continues to invest significantly in the UK with a large footprint across the country and plans to rapidly scale, in line with the Government’s commitment to keeping the nation safe while providing highly skilled jobs.

    Securing a lasting peace in Ukraine and strengthening bonds between NATO allies set to top the agenda when the Defence Secretary meets with his US counterpart today.

    The visit follows Prime Minister Keir Starmer meeting the US President last week, and John Healey MP will hail the unparalleled depth of the UK’s special relationship with the US – the UK’s closest security ally – as both nations continue to collaborate to bolster security and support economic growth. 

    The meeting follows the recent decision by the UK Government to raise defence spending to 2.5% of GDP by April 2027 – the biggest sustained uplift since the Cold War. National security is a foundation of our Plan for Change, and the Prime Minister and Defence Secretary have said that Europe needs to take a greater responsibility for its security, and that defence can be an engine for economic growth.

    Defence Secretary, John Healey MP, said:

    We are determined to achieve a secure, lasting peace in Ukraine, which means putting Ukraine in the strongest possible position to prevent any return to Russian aggression.

    The UK has already provided more than 10,000 drones to Ukraine’s Armed Forces, which have proved vital in disrupting Russian troop advances and targeting positions behind the frontline.

    With a £2.26 billion loan from seized Russian assets, plus £1.6 billion worth of air defence missiles announced for Ukraine in the last week, the UK is continuing to show leadership in securing a lasting peace for Ukraine.

    The work with Anduril UK been led by Defence Equipment & Support – the procurement arm of the MOD – on behalf of the UK-administered International Fund for Ukraine (IFU). The fund now stands at more than £1.3 billion worth of pledges from 10 other countries, of which the UK has contributed £500 million. 

    Ukraine’s armed forces will take delivery of the drones, launchers and spare parts over the coming months. 

    Dr Rich Drake, MD of Anduril UK and Europe said:

    Anduril UK is proud to partner with the UK Government, working hand in glove to deliver vital capabilities for the UK and its Allies. Our focus on developing and deploying technology where and when it’s needed is at the core of everything we do – from the rapid delivery of Altius to Ukraine to the expansion of our presence here in the UK. We look forward to strengthening our partnership with the Ministry of Defence to protect our nation and our allies.

    In January, it was announced that 30,000 drones will be sent to Ukraine by the international Drone Capability Coalition, co-led by the UK and Latvia.

    Since July 2024, the Government has provided over £5.26 billion in military aid and financial support to Ukraine, including a £3 billion annual military aid and a £2.26 billion loan for military spending.

    The British and US Armed Forces operate in close alignment around the world, from the long-standing global coalition to combat Daesh in the Middle East to joint maritime security patrols in the Indo-Pacific. 

    The Defence Secretary’s visit to Washington D.C. comes as the UK receives the last of an order of 50 of the latest generation AH-64E attack helicopters for the British Army, the most advanced attack helicopter in the world. The helicopter was handed over this week at the Boeing site in Arizona under a programme that supports more than 300 UK jobs, helping to grow the UK economy – underscoring defence as an engine for driving economic growth. 

    The visit also comes at the conclusion of the 50th occurrence of Exercise Red Flag in Nevada, a joint exercise with the UK, United States and Australia. The training is designed to test equally matched air forces in a realistic combat scenario and involves more than 3,000 military personnel in high-intensity training, such as dogfighting, air-policing and practicing bombing runs, at Nellis Air Force Base.

    Updates to this page

    Published 6 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Joint statement between Prime Minister Keir Starmer and Taoiseach Micheál Martin: 6 March 2025

    Source: United Kingdom – Executive Government & Departments

    Press release

    Joint statement between Prime Minister Keir Starmer and Taoiseach Micheál Martin: 6 March 2025

    Joint statement between Prime Minister Keir Starmer and Taoiseach Micheál Martin following UK-Ireland Summit.

    UK-Ireland 2030 Joint Statement

    1. This Joint Statement represents the starting point for a strengthened relationship between the UK and Ireland, informed by our co-guarantorship of the Good Friday Agreement, and to be taken forward through an ambitious programme of co-operation between our two countries through to 2030.

    2. The time has come to commit anew to delivering on the promise of our unique partnership to the benefit of current and future generations living across these islands. 

    3. Our renewed programme of co-operation will be taken forward in a spirit of respect and affinity, and by a shared ambition to reach the potential of our partnership across our islands, recognising that, in a changing world beyond our shores, the benefits and significance of a stronger and more settled relationship between our two countries have never been greater.

    The UK and Ireland working together at home and across the globe

    1. In a challenging geo-political and international security environment, Ireland and the UK confirm our commitment to the global multilateral system and international law as the foundations on which all our international engagement and partnerships are built.

    2. Building on these foundations, we will work together to strengthen international institutions for peace, promote conflict prevention, peace-building, sustainable development and climate action internationally.  Today, we have agreed in particular to collaborate on a strategic approach to the United Nations’ Peacebuilding Architecture Review and the World Bank’s Fragility, Conflict, Violence (FCV) Strategy. We also agree to collaborate on the Women, Peace and Security agenda and to pilot a joint lesson-sharing from the Northern Ireland peace process in an agreed priority country.

    3. We will support this intensification of our co-operation on foreign and security policy issues through annual political consultations.

    4. Continuing to ensure the safety and security of the people who live in Ireland and the United Kingdom is a priority we share.

    5. National resilience remains a priority for both of us.  We will strengthen co-operation and information sharing on emergency planning to best protect our peoples across these islands. 

    6. We will strengthen our co-operation in the area of maritime security, with a particular focus on critical undersea infrastructure, which will require greater international co-operation, including closer co-operation between Ireland and the UK.

    7. We value our good working relationship at an operational level on cyber security and will continue to co-operate to ensure that the sharing of information and best practices contribute to higher levels of cyber security across both countries. We will also work to develop approaches that benefit both countries particularly in the areas of skills development, cyber hygiene awareness and research projects.

    8. Since 2015, the UK and Ireland have cooperated on defence on the basis of a Memorandum of Understanding. We will pursue implementation of all aspects of that agreement, particularly in the areas of military training and education. To reflect the rebuilding and strengthening of our partnership, today we agree to review and update the Memorandum of Understanding on Defence by our next Summit in this series.

    9. We will continue to develop these areas of work, including through our structured security dialogue at senior official level.

    10. We will strengthen existing co-operation on criminal, civil and family law matters and exchange expertise on justice systems challenges, as well as collaborating on the rule of law and its promotion overseas. We will continue to work together to tackle threats to safety online.

    Ensuring a strategic and efficient approach to our shared maritime space to mobilise investment, support a healthy marine environment and provide clean energy for our islands

    1. We recognise the critical importance of the Celtic and Irish Seas and are committed to working together to harness their potential by deepening co-operation on offshore energy and interconnection, to help ensure our collective energy security as part of the green transition to net zero.

    2. Our countries are uniquely linked, not least through shared energy infrastructure and the Single Electricity Market (SEM) on the island of Ireland. This means we share common long-term challenges, including the need for secure, competitive, and sustainable sources of energy.

    3. We welcome recent progress on closer working between our countries in this regard, including through our two bilateral Memoranda of Understanding, and the opportunity for more formal co-operation between British and Irish system operators (EirGrid, Gas Networks Ireland, National Energy System Operator and National Gas).

    4. In order to meet our ambitious decarbonisation targets, we have agreed today to work together to mobilise investment into strategic infrastructure in the Irish and Celtic Seas by establishing frameworks to guide private investment and removing barriers to trade and investment.

    5. In this regard, we have agreed that our respective maritime policy, licensing and regulatory bodies will work together to establish co-operation in relation to data collection and usage, to continue to improve the management of the maritime area in the Irish and Celtic Seas through robust marine planning that includes a clear focus on our shared marine environment.

    6. We have also agreed to undertake new joint initiatives on mapping the sea basin to improve interoperability and resilience in UK and Irish waters, and to deepen existing co-operation on maritime decarbonisation, including on our joint efforts to establish green maritime corridors. 

    7. We will also broaden our existing Energy transition MoU to include industrial decarbonisation; knowledge sharing and exchanging best practices around retrofitting of homes and Community Benefit Funds; as well as formalising a staff exchange programme between UK and Ireland energy departments and agencies.

    8. Due to its geography, engineering expertise and interconnection to both Ireland and Great Britain, Northern Ireland can benefit from and be at the forefront of the clean energy transition. Co-operation between governments on infrastructure development will be key in both enabling Northern Ireland to have a renewable generation capacity of 3,550 MW by 2030 in order to deliver the target of 80% of electricity consumption from renewable sources, as well as supporting the Northern Ireland Executive’s ambition for 1GW of offshore wind from 2030 and Ireland’s ambition of at least 5GW of offshore wind by 2030, including through developing and supporting an all-island supply chain.

    9. Through our continuing co-operation we can act coherently and strategically, developing and sharing research and technical innovation to address our shared challenges, which in turn will deliver significant economic and social benefits to communities across our islands.

    Agile, open economies working together to attract investment, innovate from knowledge and accelerate growth

    1. The UK and Ireland are particularly close economic partners with a bilateral trade relationship worth approximately 100 billion euros annually. Ireland is the UK’s 6th largest trading partner and the UK is Ireland’s second largest trading partner and we are committed to building on these ties in order to attract new investment and accelerate economic growth across our two countries.

    2. Today we welcome substantial new investment announcements across a range of sectors including Digital, AI and Technology that are testimony to continued confidence in our economies and to the importance of our business and trading bilateral relationship. These commitments to invest will bring new jobs and opportunities to local communities and help drive up economic growth.

    3. The UK and Ireland have a longstanding partnership in sharing knowledge and experience in progressing infrastructure projects, and we share an ambition to accelerate the delivery of sustainable and resilient infrastructure to drive economic growth, enable new forms of economic activity, accelerate the transition to Net Zero by 2050, and support the delivery of housing and high-quality public services over the next decade.  Our countries and businesses are investing heavily in achieving this ambition but also face common challenges, including in relation to capacity and productivity. We have strong existing collaborations in the transport, housing and energy sectors, and today have agreed a new Framework for Co-operation to support infrastructure delivery to deepen these partnerships and extend them to further areas of mutual interest, including digital and modern methods of construction technologies.

    4. Today, we also reaffirm our support to small business in both countries and commit to working together to establish an SME Dialogue focused on sharing good practices in nurturing growth and productivity amongst SMEs to maximise commercial opportunities.

    5. We will also establish an Economic Security Exchange to share good practices and experiences, and develop common understandings in key areas for the economic security and prosperity of our two nations.

    6. The UK and Ireland share a close bilateral relationship in science, innovation and technology and commit to building on this through our collaboration within the current Horizon European Research and Innovation Framework Programme, including encouraging national contact points to work closely together. We agree to convene regular meetings between UKRI and Research Ireland to discuss issues of mutual interest and monitor and identify multilateral and bilateral opportunities.

    7. In early 2024, we launched the research Co-Centre for Climate, Biodiversity & Water, seeking to deliver solutions to the pressing challenges posed by climate change, biodiversity decline, and water degradation; and the Co-Centre for Sustainable Food Systems, seeking to drive societal and political change in food system transformation and transition to climate neutrality by 2050. Following the launch of these Co-Centres, UKRI and Research Ireland will work together and with the Northern Ireland Executive to monitor progress and identify future opportunities to bring together researchers and innovators across the UK and Ireland.

    Developing the deep ties between our people and cultures

    1. We recognise the unique ability of arts, culture and sport to forge and foster ties between people across these islands. 

    2. We value the extraordinary influence and contribution of British and Irish cultures and heritages to the artistic and cultural wealth of the public realm and creative industries and institutions in both our countries. In recognition of this, today, we agree to establish a strategic partnership to deepen and amplify co-operation between our leading cultural institutions and to support wider public engagement with the contemporary culture and heritage of both our countries. Over the coming five years, this will comprise a range of measures to support collaborations in programming, professional exchange, research and policy, and an annual joint meeting of our leading cultural institutions each autumn.

    3. We look forward to our joint hosting of the EURO2028 Men’s Football Championship and the 2030 T20 Men’s Cricket World Cup and will work to ensure that both tournaments are enjoyed across these islands. We will explore future co-hosting opportunities in the area of sports.

    4. We recognise that to reach the potential of our partnership across these islands, we need to understand and respond to the aspirations and views of young people. Today, we have agreed to establish an Ireland-UK Youth Forum to bring together young people across these islands on an annual basis to discuss issues of importance to them and to make recommendations about how they can be addressed for consideration by both our governments.

    5. In order to build stronger connectivity amongst our children and young people, we will also encourage greater co-operation and contact between our schools and education systems. This will include areas such as early years learning and provision, social mobility, opportunity and inclusion; special education provision; curriculum and assessment reform; teacher professional development; and integrated education.

    6. We will promote greater understanding of educational opportunities for full-time students through improved knowledge, guidance and information using higher education entrance systems.

    7. The uniquely rich and dynamic connections between people across these islands are supported and made possible by our long-standing Common Travel Area arrangement.  We remain firmly committed to working together to protect the integrity and security of the Common Travel Area. Recognising also the importance of the Common Travel Area in facilitating the daily lives of citizens across these islands, we will work together to minimise barriers to work or travel for those who benefit from it.

    8. Underpinning our co-operation is our shared ambition of a more reconciled, peaceful and prosperous Northern Ireland.  In progressing our co-operation across the board, we will ensure that our partnership includes and benefits Northern Ireland. We commit to ensure the successful delivery of the 2021-2027 PeacePlus programme and are agreed in principle to a successor programme.

    9. We agree to establish a UK-Ireland 2030 Steering Group led by the UK Cabinet Office and Department of the Taoiseach in order to take forward the range of commitments we are making today. Together we will ensure this complements the institutions of the Good Friday Agreement and their crucial role at the heart of our essential and unique relationship.

    Updates to this page

    Published 6 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Eurovision legacy lives on in Liverpool

    Source: City of Liverpool

    A new study has revealed how the Liverpool City Region is continuing to reap the rewards of hosting Eurovision 2023, with repeat visitors bringing an additional £11.1m to the local economy over the past year alone.

    This is in addition to the £54.8m generated during the event itself, which saw Liverpool shine under the global spotlight as 162 million viewers worldwide tuned in. But the true impact of Eurovision goes beyond just numbers; it has helped power Liverpool City Region’s record-breaking visitor economy, which is now worth an estimated £6.25bn.

    Hosting Eurovision on behalf of Ukraine was more than just a music event; it was a statement of solidarity, resilience, and global leadership. As the world grapples with ongoing challenges, Liverpool City Region has emerged as a city that doesn’t just watch history unfold but plays a part in shaping it.

    The ‘Eurovision effect’ has reinforced the Liverpool City Region’s position as a premier global destination, attracting record-breaking tourism. It continues to stage major events like EURO 2028, Radio 1’s Big Weekend, The Open Golf Championship and the World Boxing Championships, and solidifying its reputation as a cultural and economic powerhouse.

    Despite not ranking in the top 100 cities globally by population, Liverpool sits among the top 10 most recognised non-capital cities worldwide. The Eurovision effect has only strengthened that status, elevating the city’s brand on the international stage and proving that Liverpool continues to punch well above its weight when it comes to cultural influence.

    Liverpool City Region Mayor, Steve Rotheram, said:

    “Eurovision wasn’t just a music competition—it was a statement of solidarity with Ukraine and a testament to Liverpool’s global influence. We didn’t just host an event—we embraced a cause.

    “One year on, the Eurovision effect continues to deliver—boosting our economy, creating jobs, and securing our city region’s position as a place that welcomes the world. But the real legacy of Eurovision isn’t just financial—it’s the pride, unity, and lasting international partnerships we’ve built.

    “At a time when global events remind us of the importance of standing together, Liverpool proved that culture isn’t just entertainment—it’s soft power in action. Our doors remain open to the world, and Eurovision was just the beginning.”

    Councillor Liam Robinson, Leader of Liverpool City Council, added:

    “Liverpool’s hosting of Eurovision on behalf of Ukraine redefined the competition.

     “Not only was it our ambition to stage the most successful-ever contest – which we achieved in spades – but from the outset we wanted to make sure there was a lasting legacy of the event, which would continue to benefit Liverpool for years to come.

     “This latest report shows in black and white the value of hosting major events. For ten days in May 2023, Liverpool shone under the global spotlight, making it a destination people wanted to return to time and time again, or visit for the first time. In turn, that boosts our local economy, supports jobs and brings vital footfall to our culture and leisure industries.

    “And of course, seeing what a show this City can put on attracts other opportunities, and securing the likes of Radio 1’s Big Weekend and the World Boxing Championships can undoubtedly be attributed to the Eurovision-effect.

     “The City Council has spent more than 20 years investing and building its cultural credentials, understanding the true value of soft power and how transformational it can be, and we look forward to the next phase of our journey which will see us working with all of our neighbouring boroughs to make the City Region an enviable cultural capital.”

    Liverpool’s Director of Culture, Claire McColgan CBE, who is also Assistant Director – Culture for the Liverpool City Region, said:

    “Evaluation and learning is always at the heart of everything we do as it informs and shapes future events. Eurovision 2023 remains a standout event for this city and we’re still hugely proud or how we worked in partnership with the BBC, the Government, and of course the people of Ukraine, to deliver what is quite rightly regarded as the most successful competitions in the event’s history. These relationships continue to grow and strengthen, helping to cement Liverpool’s reputation as a global leader in major event delivery.

    “As the UK’s first UN Accelerator City, legacy will take centre stage once again this year, as we commit to introducing environmental innovation where possible in our creative sector, and in doing so ensuring that our major events leave a lasting legacy for our communities.”

    The research, commissioned by the Liverpool City Region Combined Authority and Liverpool City Council, highlights several key findings:

    • Repeat visitors: 54,417 people who attended Eurovision events returned to Liverpool, making a total of 72,454 additional trips.
    • Financial impact: These return visits generated £11.1m, adding to the £54.8m impact during the event itself.
    • Cultural value: The event delivered an estimated £4.6m in cultural benefits to domestic attendees.
    • Global reputation: Eurovision put Liverpool on the map for major international events, leading to record-breaking visitor numbers in 2023 and a £6.25bn tourism economy—£600m above projected figures.
    • Pride and community impact: Over 95% of Liverpool City Region residents said they were proud of Liverpool’s role as host, reinforcing the event’s lasting social value.

    Eurovision was just the beginning. Liverpool City Region has established itself as a major global events capital, and with an ever-growing £6.25bn visitor economy, it is ready to welcome the next wave of world-class events, partnerships, and opportunities.

    The city that staged Eurovision for Ukraine is now preparing to host the world—again and again.

    Read the full report here.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Successful International Women’s Day event took place at Coventry Job Shop

    Source: City of Coventry

    An exclusive event for female customers was held at Coventry Job Shop on Wednesday 5 March which welcomed over 200 women.

    As part of International Women’s Day celebrations, the event focused on highlighting women’s roles in industries traditionally over-represented by men.

    Current figures that show that 84% of men dominate the construction industry, 81% in the logistics sector and approximately 83% in Digital Software Engineering roles.

    The event showcased established female leaders in fields such as construction, the armed services, logistics and digital. It aimed to create a platform for successful females to motivate Coventry residents to explore new and promising sectors.

    Notable employers included: Hill Group, Balfour Beatty Vinci, West Midlands Police, Mclaughlin and Harvey, Octavius, West Midlands Fire, Prune Software and Tarmac. Speakers from these organisations showcased their personal journeys and spoke about their incredible achievements throughout their careers.

    Additionally, Coventry Adult Education, Coventry College, NIS Group, RMF and Challenge TRG-Skills were on hand to offer valuable advice on relevant training programs and educational opportunities.

    Councillor Dr Kindy Sandhu, Cabinet Member for Education and Skills said: “The ‘I Can’ exclusive event for females was an important and momentous way to mark International Women’s Day. I heard some really powerful stories on the day from some wonderful women who are looking to start new careers. I also heard from some employers about all the brilliant things they have achieved so far, which was really inspiring for everyone there.

    “We are really serious about supporting women into careers that have good jobs, offer good pay, good terms and conditions and in careers where they feel they can belong and thrive. Thanks to this event, local women are now equipped with the right advice, support, information and most of all confidence to go and try something new and exciting. I wish them all the best of luck on their future pathways.”

    Attendees had the opportunity to participate in a dynamic jobs fair, where they were able to apply for live vacancies and engage with skills providers to talk about the necessary qualifications needed for these exciting career paths.

    Sam Wraith, Stakeholder and Social Value Manager at Octavius said: “It was such a pleasure to be a part of the ‘I Can’ event held at The Job Shop. It was a privilege to speak in such a fantastic facility full to the brim with inspirational speakers and listeners.

    “We all had different back stories, are on different journeys and facing different challenges. The Job Shop bought us all together to unite us as one to share our experiences and be part of IWD 2025. It was a great turn out for a fabulous event”.

    The event was a great way to celebrate the successes and skills of female Coventry residents. It also inspired employers to work towards having a more diverse group of employees.

    Elysha Coulson, an event attendee said: “The event was very informative and inspiring. I’d really like to attend something similar in the near future”.

    To find out more work and training opportunities, drop into the Job Shop on Smithford Way to speak to one of the Employment Coaches, or contact the Job Shop on: 024 7678 5740 or jobshop@coventry.gov.uk.

    To keep up to date with the latest news, sign up for our Your Coventry email newsletter or follow the Council on Facebook, X (formerly Twitter), YouTube, Instagram, LinkedIn and TikTok.

    For any media enquiries, contact the Communications Team at: communications@coventry.gov.uk or 024 7683 4848.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Nuclear safety, security and safeguards in Ukraine: UK national statement to IAEA Board, March 2025

    Source: United Kingdom – Executive Government & Departments

    Speech

    Nuclear safety, security and safeguards in Ukraine: UK national statement to IAEA Board, March 2025

    UK Ambassador to the IAEA Corinne Kitsell’s statement to the International Atomic Energy Agency Board of Governors meeting on Ukraine

    Chair, 

    Since Russia’s illegal invasion in March 2022, the nuclear safety and security situation in Ukraine continues to deteriorate. The UK is grateful to the Agency for its work with Ukraine to help decrease the risk of a nuclear accident, and to the IAEA personnel who continue to operate under the most challenging of circumstances. 

    The risks that the ISAMZ team has been subjected to over this reporting period – including the attack on their vehicle on their journey to ZNPP in December, and their extended stay at the plant due to intense military activity in the area – are unacceptable. The ISAMZ staff affected have the UK’s upmost sympathy and gratitude.  

    We are concerned that the IAEA was forced to conduct the most recent ISAMZ rotation through Russian temporarily controlled territory. It is imperative that this be an exception, on humanitarian grounds, and that future rotations are implemented using routes agreed with the Government of Ukraine and with full respect of its sovereignty and territorial integrity. We welcome the DG’s commitment to this Board that the Agency will continue to comply fully with UN General Assembly resolution 11 / 4 adopted on 12 October 2022 and all relevant resolutions of the IAEA policy-making organs.  

    Three years after Russia’s illegal and irresponsible seizure of ZNPP we are grateful for ISAMZ’s continued reporting on the nuclear safety situation, where the unreliable water and electricity supply to the plant, and military activity within its vicinity, continue to pose challenges. We remain deeply concerned that ISAMZ still do not receive timely access to all relevant areas of the plant – despite repeated calls from this Board.  

    Chair, 

    Over the reporting period we have seen heightened military activity near all of Ukraine’s NPPs and continued Russian attacks on substations connected to those plants – a situation so serious that an extraordinary meeting of the Board of Governors had to be convened in December.  

    At that Board, we heard the Russian Ambassador claim that there was no decisive link between energy infrastructure and nuclear safety at NPPs. Contrary to this claim, paragraphs 26 to 30 of the DG’s report provide a useful overview of relevant IAEA Safety Standards and other publications, which make clear the need for NPPs to have reliable and stable power supply so that safety can be maintained.   

    Chair, 

    A drone hitting and causing a fire on the large protective structure at the Chornobyl Nuclear Power Plant adds to the ongoing risks to nuclear safety and security posed by military activity in Ukraine.  

    We are relieved that despite significant damage caused by the fire, which lasted over two weeks and required over 150 holes to be cut in the external cladding to extinguish, there has been no change in radiation levels at the site. But the DG’s assessment that the damage could have an undetermined “adverse” impact on nuclear safety in the long term is extremely worrying.  

    In view of the precarious situation, we appreciate that staff and management of Chornobyl NPP are regularly exchanging information with the IAEA team on the ground. 

    Chair, 

    The work of this Board is serious. It is a forum for debate, discussion and decisions, not for spreading propaganda and false narratives. Colleagues who were here last year heard me express concern about deliberate attempts at gaslighting by some members of this Board, creating false narratives to try to make others question their perceptions of the truth and question the truth about events. Such game-playing as no place in a serious Board such as this. 

    Thank you Chair.

    Updates to this page

    Published 6 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Important congratulations: a letter from the rector of the State University of Management Vladimir Stroev to the head of VNIOPTUSKh

    Translartion. Region: Russians Fedetion –

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

    On March 5, representatives of the State University of Management took part in a ceremonial meeting dedicated to the 60th anniversary of the All-Russian Research Institute for the Organization of Production, Labor and Management in Agriculture (VNIOPTUSKh).

    Professors of the Department of Accounting, Auditing and Taxation of the State University of Management Tatyana Rogulenko and Roman Blizkiy presented the Honored Scientist of the Russian Federation Alexander Suglobov, who heads the All-Russian Research Institute of Agricultural Sciences, with a congratulatory letter from the Rector of the State University of Management Vladimir Stroyev. The letter was given in recognition of the merits of Alexander Evgenievich and the contribution of the institute’s staff to the development of the agricultural sector.

    On April 16-17, 2025, the All-Russian scientific and practical conference “Current state and prospects for the organization of production, labor and management in agriculture” will be held for the 60th anniversary of VNIOPTUSKh. As part of strengthening the interaction of research teams, the head of VNIOPTUSKh invites scientists from the State University of Management to take part in the conference.

    The anniversary is an important stage in the history of VNIOPTUSKh, emphasizing the importance of the institute’s work in the field of labor protection and industrial safety. The interaction of scientific institutions and universities contributes to the development of new technologies and approaches aimed at increasing efficiency and safety in the agricultural sector.

    Today, VNIOPTUSKh continues active research activities, implements modern methods and ensures sustainable development of the country’s agro-industrial complex.

    GUU congratulates the institute staff on their anniversary and wishes them further success in their scientific work!

    Subscribe to the TG channel “Our GUU” Date of publication: 03/06/2025

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

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: CMA clears GBT / CWT corporate travel merger

    Source: United Kingdom – Executive Government & Departments

    Press release

    CMA clears GBT / CWT corporate travel merger

    Independent CMA inquiry group has cleared the merger of corporate travel companies Global Business Travel Group, Inc and CWT Holdings LLC.

    iStock

    An independent inquiry group leading the in-depth Phase 2 merger investigation into the merger of corporate travel management companies Global Business Travel Group, Inc (GBT) and CWT Holdings LLC (CWT) has decided it should be allowed to proceed.

    Both companies supply travel agency services to global businesses with high travel spend and employees who travel internationally. 

    The group has concluded that CWT is a significantly weaker competitor than in the past and is likely to continue to weaken in the future and that there are other suppliers who will offer customers an alternative to the merged business.

    The group is therefore satisfied that the merger is not expected to result in a substantial lessening of competition in the global market for the supply of business travel agency services and has cleared the deal.

    Martin Coleman, chair of the independent panel of experts conducting this investigation, said:

    Having reviewed all the evidence thoroughly over the course of our investigation we have concluded, given the weaker position CWT plays in the corporate travel market and the alternatives available, that this deal should be allowed to proceed.

    For more information, visit the Global Business Travel Group, Inc / CWT Holdings, LLC merger inquiry case page.

    Notes to editors

    1. On 10 January 2025 the United States Department of Justice filed a civil antitrust lawsuit seeking to block the merger. The case is currently before the US courts.
    2. New Phase 1 cases opened by the CMA after 25 April 2024 which are referred for an in-depth Phase 2 investigation are run under the new Phase 2 process. This is the first in-depth merger investigation that the CMA has conducted under its revised Phase 2 process.
    3. All media enquiries should be directed to the CMA press office by email on press@cma.gov.uk, or by phone on 020 3738 6460.

    Updates to this page

    Published 6 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: The online accounts and company tax return service is closing

    Source: United Kingdom – Executive Government & Departments

    News story

    The online accounts and company tax return service is closing

    The joint online filing service will close on 31 March 2026.

    Companies House and HMRC are closing the joint online filing service on 31 March 2026.

    Companies have used this service to file their accounts and Company Tax Returns at the same time with Companies House and HMRC, but it will close in 12 months’ time.

    From 1 April 2026, companies can file their annual accounts with Companies House using third party software, our web services or paper filing. However, you will need to use software to file your Company Tax Return with HMRC.

    Why the service is closing

    The service is closing because it’s now outdated. It no longer aligns to modern digital standards, enhanced corporation tax requirements or changes to UK company law under the Economic Crime and Corporate Transparency Act (ECCTA).

    Closing the service also reinforces the big changes taking place at Companies House, as we implement further measures set out in the ECCTA and introduce new processes such as Identity Verification (IDV).

    What you need to do

    We recommend downloading and saving at least 3 years of accounts filings for your company. You will not be able to access any previous filings on this service after 1 April 2026.

    Start considering your software filing options. You’ll need to find a suitable software provider that can meet your filing needs for both Companies House and HMRC.

    Find out more about what you need to do to prepare for the closure of the online service to file your accounts and Company Tax Return.

    Moving to filing accounts by software only

    In the future, you’ll only be able to file accounts with Companies House using third party software.

    Although there are currently other ways to file accounts with us, most companies can make the change to using software now.

    Filing accounts through software gives you the greatest flexibility to showcase the financial data of your company. It can also give you a variety of functionality to support the running of your business. Many software providers offer a range of accounting packages to help you prepare and file accounts – you can find software for filing company documents.

    This future change supports our goal of enabling a fully digital filing service. It will also help us to meet our organisational priority to prevent economic crime and bring the UK in line with international best practice.  

    We’ll aim to give companies at least 21 months’ notice before this change comes into effect.

    Sign up for our newsletters to stay up to date with our services.

    Updates to this page

    Published 6 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Curriculum quality improved in schools since education inspection framework introduced

    Source: United Kingdom – Executive Government & Departments

    News story

    Curriculum quality improved in schools since education inspection framework introduced

    Ofsted has today published an evaluation assessing the role that the current education inspection framework (EIF) has played in improving curriculum quality in schools.

    The evaluation found that curriculum quality has improved in schools, and that the education inspection framework (EIF) played a part in influencing these improvements. However, the improvements were fundamentally driven by school leaders and staff.

    Read the report: Curriculum quality: evaluating the impact of the education inspection framework.

    Ofsted carried out curriculum research in 64 schools in 2018, and revisited 20 of those schools in 2024 to compare curriculum quality before and after the introduction of the EIF.

    The evaluation found that, in the schools revisited:

    • overall curriculum quality had improved
    • the intent, implementation and impact structure of the EIF had influenced school leaders’ thinking about the curriculum
    • the curriculum was more likely to be ambitious across all subjects
    • while the quality of reading was high in the initial study, school leaders had further prioritised reading
    • leaders reported that, under the EIF, subject leaders had greater levels of ownership and responsibility
    • the curriculum was more purposefully sequenced and mapped​

    Ofsted is currently consulting on a renewed framework, which will incorporate the best of the EIF, including the clear focus on curriculum quality.

    Education professionals, parents, carers and learners are all encouraged to give their views on the consultation before it closes on 28 April 2025.

    Respond to the consultation

    Updates to this page

    Published 6 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI: KVH Industries Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    MIDDLETOWN, R.I., March 06, 2025 (GLOBE NEWSWIRE) — KVH Industries, Inc., (Nasdaq: KVHI), reported financial results for the quarter and full year ended December 31, 2024 today. The company will hold a conference call to discuss these results at 9:00 a.m. ET today, which can be accessed at investors.kvh.com. Following the call, a replay of the webcast will be available through the company’s website.

    Fourth Quarter 2024 Highlights

    • Total revenues decreased by 14% in the fourth quarter of 2024 to $26.9 million from $31.5 million in the fourth quarter of 2023.
       
    • Airtime revenue decreased by $5.1 million to $20.8 million, or 20% in the fourth quarter of 2024 compared to the fourth quarter of 2023.
       
    • Net loss in the fourth quarter of 2024 was $4.3 million, or $0.22 per share, compared to a net loss of $12.2 million, or $0.63 per share, in the fourth quarter of 2023.
       
    • Non-GAAP adjusted EBITDA was $0.5 million in the fourth quarter of 2024, compared to $2.3 million in the fourth quarter of 2023. The U.S. Coast Guard contract downgrade reduced non-GAAP adjusted EBITDA by $2.2 million year over year.

    Commenting on the company’s fourth quarter and full year results, Brent C. Bruun, KVH’s Chief Executive Officer, said, “Our recent results validate our strategic decision to integrate Starlink fully into our product and service portfolio. We shipped more than 1,000 Starlink terminals in the fourth quarter and, with more than 2,300 activations in 2024, Starlink is now the fastest growing product line in our history. At the same time, we have strengthened our multi-orbit, multi-channel portfolio with the addition of OneWeb, CommBox Edge, and the TracNet Coastal global 5G and Wi-Fi communication system.

    “Fourth quarter airtime and service revenue was $22.3 million, a $5.4 million reduction from the fourth quarter of 2023. Of this reduction, $2.2 million was related to the U.S. Coast Guard contract downgrade, while the remaining decline was driven by overall softness in the VSAT airtime market primarily due to the impact of customer demand for Starlink services. Our Starlink airtime margins continue to be strong, though overall airtime gross margins declined due in part to fixed costs for VSAT services. Our subscriber base increased by 4% in the fourth quarter, CommBox Edge activations doubled, and we achieved a fourth consecutive quarter of record terminal shipments. We are in a stronger position now than a year ago, and I believe we are on the path toward renewed growth and profitability. With this in mind, for full year 2025 we anticipate that revenue will be in the range of $115 million to $125 million, and adjusted EBITDA in the range of $9 million to $15 million.”

    Financial Highlights (in millions, except per share data)
             
        Three Months Ended   Year Ended
        December 31,   December 31,
          2024       2023       2024       2023  
    GAAP Results                
    Revenue   $                        26.9     $                        31.5     $                     113.8     $                     132.4  
    Loss from operations   $                        (3.2 )   $                      (12.2 )   $                      (11.9 )   $                      (17.3 )
    Net loss   $                        (4.3 )   $                      (12.2 )   $                      (11.0 )   $                      (15.4 )
    Net loss per share   $                      (0.22 )   $                      (0.63 )   $                      (0.57 )   $                      (0.81 )
                     
    Non-GAAP Adjusted EBITDA   $                          0.5     $                          2.3     $                          8.1     $                        14.3  


    Fourth     Quarter Financial Summary

    Revenue was $26.9 million for the fourth quarter of 2024, a decrease of 14% compared to $31.5 million in the fourth quarter of 2023.

    Service revenues for the fourth quarter of 2024 were $22.3 million, a decrease of 20%. The decrease in service sales was primarily due to a $5.1 million decrease in our airtime service sales, of which $2.2 million was related to the U.S. Coast Guard contract downgrade.

    Product revenues for the fourth quarter of 2024 were $4.6 million, an increase of 24% from the fourth quarter of 2023. The increase in product sales was primarily due to a $1.2 million increase in Starlink product sales, partially offset by a $0.3 million decrease in TracVision product sales.

    Our operating expenses decreased $2.7 million to $10.3 million for the fourth quarter of 2024 compared to $13.0 million for the fourth quarter of 2023. This decrease was primarily due to the $2.1 million charge incurred in 2023 for the discontinuation of a project for implementing a manufacturing-centric accounting system and a $0.8 million decrease in recurring salaries, benefits and taxes, partially offset by $0.9 million of restructuring severance charges.

    Full Year Financial Summary

    Revenue was $113.8 million for the year ended December 31, 2024, a decrease of 14% compared to $132.4 million for the year ended December 31, 2023.

    Service revenues for the year ended December 31, 2024, were $96.4 million, a decrease of 16% compared to the year ended December 31, 2023. The decrease in service sales was primarily due to a $17.1 million decrease in our airtime service sales, driven primarily by a decrease in VSAT-only subscribers, partially offset by an increase in Starlink service sales. $2.7 million of this decrease was related to the U.S. Coast Guard contract downgrade.

    Product revenues for the year ended December 31, 2024, were $17.4 million, a decrease of 2% compared to the year ended December 31, 2023. The decrease in product sales was primarily the result of a $2.2 million decrease in VSAT Broadband product sales, a $2.0 million decrease in TracVision product sales and a $1.3 million decrease in accessory and service product sales, partially offset by a $5.0 million increase in Starlink product sales and a $0.5 million increase in CommBox Edge product sales.

    Our operating expenses decreased $8.1 million to $47.1 million in the year ended December 31, 2024, compared to $55.2 million in the year ended December 31, 2023. This decrease in operating expenses was primarily due to a $4.9 million decrease in aggregate non-cash impairment charges against goodwill and long-lived assets, a $2.1 million charge incurred in 2023 for the discontinuation of a project for implementing a manufacturing-centric accounting system, a $2.0 million decrease in salaries, benefits and taxes, excluding costs related to the reduction in workforce, a $1.0 million decrease in professional fees, a $0.4 million decrease in external commissions, a $0.4 million decrease in computer expenses, a $0.4 million decrease in depreciation and amortization, and a $0.3 million decrease in expensed materials. These decreases in expenses were partially offset by $2.9 million of costs related to the reductions in our workforce and a $0.7 million reduction in reimbursements made by EMCORE for expenses incurred under the transition services agreement relating to the sale of the inertial navigation business in August 2022. The $8.1 million improvement in operating expenses reflects a reduction in non-cash impairment charges of $4.9 million from 2023 to 2024.

    Other Recent Announcements

    • December 10, 2024 – Seaspan Selects KVH to Equip Fleet with OneWeb Low Earth Orbit Solution
    • December 5, 2024 – Vroon and KVH Complete Deployment of Starlink/VSAT Hybrid Connectivity on 58 Vessels
    • December 3, 2024 – KVH Introduces TracNet™ Coastal and TracNet Coastal Pro 5G/Wi-Fi Terminals and Cellular Data Plans

    Conference Call Details

    KVH Industries will host a conference call today at 9:00 a.m. ET through the company’s website. The conference call can be accessed at investors.kvh.com and listeners are welcome to submit questions pertaining to the earnings release and conference call to ir@kvh.com. The audio archive will be available on the company website within three hours of the completion of the call.

    Non-GAAP Financial Measures

    This release provides non-GAAP financial information as a supplement to our condensed consolidated financial statements, which are prepared in accordance with generally accepted accounting principles (“GAAP”). Management uses these non-GAAP financial measures internally in analyzing financial results to assess operational performance. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. The non-GAAP financial measures used in this press release adjust for specified items that can be highly variable or difficult to predict. Management generally uses these non-GAAP financial measures to facilitate financial and operational decision-making, including evaluation of our historical operating results and comparison to competitors’ operating results. These non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when viewed with GAAP results and the reconciliations to corresponding GAAP financial measures, may provide a more complete understanding of factors and trends affecting our business.

    Some limitations of non-GAAP adjusted EBITDA include the following: non-GAAP adjusted EBITDA represents net income (loss) before, as applicable, interest income, net, income tax expense (benefit), depreciation, amortization, stock-based compensation expense, goodwill impairment charges, long-lived assets impairment charges, charges for disposal of discontinued projects, loss on unfavorable future contracts, employee termination and other variable costs, executive separation costs, transaction-related and other variable legal and advisory fees, irregular inventory write-downs, excess purchase order obligations, gains and losses on sale of subsidiaries, and foreign exchange transaction gains and losses.

    Other companies, including companies in KVH’s industry, may calculate these non-GAAP financial measures differently or not at all, which will reduce their usefulness as a comparative measure.

    Because non-GAAP financial measures exclude the effect of items that increase or decrease our reported results of operations, management strongly encourages investors to review our consolidated financial statements and publicly filed reports in their entirety. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the tables accompanying this release.

    About KVH Industries, Inc.

    KVH Industries, Inc. is a global leader in maritime and mobile connectivity delivered via the KVH ONE network. The company, founded in 1982, is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and more than a dozen offices around the globe. KVH provides connectivity solutions for commercial maritime, leisure marine, military/government, and land mobile applications on vessels and vehicles, including the TracNet, TracPhone, and TracVision product lines, the KVH ONE OpenNet Program for non-KVH antennas, AgilePlans Connectivity as a Service (CaaS), and the KVH Link crew wellbeing content service.

    This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding projected financial results, the anticipated benefits of our restructuring and other initiatives, anticipated cost savings, our investment plans, our development goals, and the potential impact of our future initiatives on revenue, competitive positioning, profitability, and orders. Actual results could differ materially from the results projected in or implied by the forward-looking statements made in this press release. Factors that might cause these differences include, but are not limited to: continued increasing competition, particularly from lower-cost providers, low earth orbit satellite systems and other telecommunications systems, especially in the global leisure market, which is reducing demand for geosynchronous satellite services, including ours; the impact of lower revenue from the U.S. Coast Guard; potentially lower product and service margins from reseller arrangements; the risk that sales of Starlink terminals will slow down or decrease; potential hardware and software competition for our new CommBox product offerings; unanticipated obstacles to implementation of our manufacturing wind-down; unanticipated costs and expenses arising from the wind-down; unanticipated effects of the wind-down on our ongoing business; the risks associated with increased customer reliance on third-party hardware; the lack of future product differentiation; new service offerings from hardware providers; potential customer delays in selecting our services; the uncertain impact of continuing industry consolidation; the risk that our OpenNet program will lead to further reductions in sales of our satellite products; the risk that our current and future non-exclusive arrangements with Starlink and OneWeb will not provide material benefits; contingencies and termination rights applicable to pending and future property and asset sales; uncertainty regarding customer responses to new product and service introductions; challenges and potential additional expenses in retaining our employees, particularly in the current competitive labor market characterized by rising wages; the challenges of meeting customer expectations with a smaller employee base; uncertainties created by our new business strategy, which may impact customer recruitment and retention; the uncertain impact of ongoing disruptions in our supply chain and associated increases in our costs; the uncertain impact of inflation, particularly with respect to fuel costs, and fears of recession; the uncertain impact of the wars in Ukraine and the Middle East and international tensions in Asia, including the impact of dramatic shifts in U.S. geopolitical priorities; unanticipated changes or disruptions in our markets; technological breakthroughs by competitors; changes in customer priorities or preferences; increasing customer terminations; unanticipated liabilities, charges and write-offs; the potential that competitors will design around or invalidate our intellectual property rights; a history of losses; continued fluctuations in quarterly results; the uncertain impact of recent dramatic changes in both U.S. and foreign trade policy, including actual and potential new or higher tariffs and trade barriers, as well as trade wars with other countries; potentially inflationary impacts of tariffs and budget deficits; unanticipated obstacles in our product and service development, cost engineering and manufacturing efforts; adverse impacts of currency fluctuations; our ability to successfully commercialize our new initiatives without unanticipated additional expenses or delays; reduced sales to companies in or dependent upon the turbulent oil and gas industry; the impact of extended economic weakness on the sale and use of marine vessels and recreational vehicles; continued challenges of maintaining our market share in the market for airtime services; the risk that declining sales of the TracNet H-series and TracPhone V-HTS series products and related services will continue to reduce airtime gross margins; the risk that reduced product sales will continue to erode product gross margins and lead to increased losses; potential continuing declines or changes in customer demand, due to economic, weather-related, seasonal, and other factors, particularly with respect to the TracNet H-series and TracPhone V-HTS series; exposure for potential intellectual property infringement; changes in tax and accounting requirements or assessments; and export restrictions, delays in procuring export licenses, and other international risks. These and other factors are discussed in more detail in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2024. Copies are available through our Investor Relations department and website, investors.kvh.com. We do not assume any obligation to update our forward-looking statements to reflect new information and developments.

    KVH Industries, Inc., has used, registered, or applied to register its trademarks in the USA and other countries around the world, including but not limited to the following marks: KVH, KVH ONE, TracPhone, TracVision, AgilePlans, CommBox, and TracNet. Other trademarks are the property of their respective companies.

    KVH INDUSTRIES, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (in thousands, except per share amounts, unaudited)
     
        Three months ended
    December 31,    		   Year ended
    December 31,
          2024       2023       2024       2023  
    Sales:                
    Service   $      22,324     $      27,739     $      96,446     $    114,622  
    Product              4,593                3,716              17,382              17,757  
    Net sales            26,917              31,455            113,828            132,379  
    Costs and expenses:                
    Costs of service sales            15,506              17,514              60,002              65,362  
    Costs of product sales              4,286              13,107              18,607              29,149  
    Research and development              1,668                2,020                8,439                9,399  
    Sales, marketing and support              5,363                5,252              21,013              20,925  
    General and administrative              3,299                5,760              16,513              18,899  
    Goodwill impairment charge                    —                      —                      —                5,333  
    Intangible asset impairment charge                    —                      —                1,137                    657  
    Total costs and expenses            30,122              43,653            125,711            149,724  
    Loss from operations            (3,205 )          (12,198 )          (11,883 )          (17,345 )
    Interest income                  623                    986                3,039                3,646  
    Interest expense                    —                        1                        2                        1  
    Other expense, net            (1,433 )                (821 )            (1,781 )            (1,404 )
    Loss before income tax expense            (4,015 )          (12,034 )          (10,627 )          (15,104 )
    Income tax expense                  295                    159                    421                    318  
    Net loss   $      (4,310 )   $    (12,193 )   $    (11,048 )   $    (15,422 )
                     
    Net loss per common share                
    Basic   $        (0.22 )   $        (0.63 )   $        (0.57 )   $        (0.81 )
    Diluted   $        (0.22 )   $        (0.63 )   $        (0.57 )   $        (0.81 )
                     
    Weighted average number of common shares outstanding:                
    Basic            19,453              19,250              19,389              19,130  
    Diluted            19,453              19,250              19,389              19,130  
    KVH INDUSTRIES, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (in thousands, unaudited)
     
        December 31,
    2024    		   December 31,
    2023
    ASSETS        
    Cash, cash equivalents and marketable securities   $                   50,572                         69,771
    Accounts receivable, net                         21,624                         25,670
    Inventories, net                         22,953                         19,046
    Other current assets and contract assets                         16,016                            4,331
    Current assets held for sale                         11,410                                 —
    Total current assets                       122,575                       118,818
    Property and equipment, net                         27,014                         47,680
    Intangible assets, net                               828                            1,194
    Right of use assets                            1,361                            1,068
    Other non-current assets and contract assets                            3,146                            3,618
    Non-current deferred income tax asset                               157                               256
    Total assets   $                 155,081   $                 172,634
    LIABILITIES AND STOCKHOLDERS’ EQUITY        
    Accounts payable and accrued expenses   $                   14,173                         22,412
    Deferred revenue                            1,039                            1,774
    Current operating lease liability                               660                               786
    Total current liabilities                         15,872                         24,972
    Long-term operating lease liability                               569                               289
    Non-current deferred income tax liability                                 15                                   1
    Stockholders’ equity                       138,625                       147,372
    Total liabilities and stockholders’ equity   $                 155,081   $                 172,634
    KVH INDUSTRIES, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP NET LOSS TO NON-GAAP
    EBITDA AND NON-GAAP ADJUSTED EBITDA
    (in thousands, unaudited)
     
        Three months ended
    December 31,    		   Year ended
    December 31,
          2024       2023       2024       2023  
    Net loss – GAAP (1)   $      (4,310 )   $    (12,193 )   $    (11,048 )   $    (15,422 )
    Income tax expense                  295                    159                    421                    318  
    Interest income, net                (623 )                (985 )            (3,037 )            (3,645 )
    Depreciation and amortization              3,048                3,319              13,298              13,438  
    Non-GAAP EBITDA            (1,590 )            (9,700 )                (366 )            (5,311 )
    Stock-based compensation expense                  398                    645                2,027                2,078  
    Goodwill impairment charge                    —                      —                      —                5,333  
    Long-lived assets impairment charge                    —                      —                1,137                    657  
    Disposal of a discontinued project                    —                2,099                      —                2,099  
    Loss on an unfavorable future contract                    —                    337                      —                    337  
    Employee termination and other variable costs                  926                      —                3,863                      —  
    Prior period Brazil tax settlement                  446                      —                    446                      —  
    Transaction-related and other variable legal and advisory fees                  156                      41                    451                    275  
    Irregular inventory write-down                    —                5,225                      —                5,225  
    Excess purchase order obligations                    —                3,569                      —                3,569  
    Loss on sale of a subsidiary                    —                      53                      —                      53  
    Foreign exchange transaction loss                  176                      15                    493                      33  
    Non-GAAP adjusted EBITDA   $           512     $        2,284     $        8,051     $      14,348  

    (1) Net loss – GAAP includes a non-cash loss related to the disposal of AgilePlans revenue-generating fixed assets, in which no proceeds were received, of $819 and $333 for the three months ended December 31, 2024 and 2023, respectively, and $900 and $667 for the years ended December 31, 2024 and 2023, respectively. 

         
    Contact:   KVH Industries, Inc.
    Chris Watson
    401-845-2441
    IR@kvh.com

    The MIL Network –