NewzIntel.com

Category: Europe

  • MIL-OSI Banking: Lufthansa Group increases Adjusted EBIT by 27 percent in the second quarter and confirms full-year forecast

    Source: Lufthansa Group

    Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG:

    “The Lufthansa Group remains on course. Although the second quarter was again marked by geopolitical crises and economic uncertainties, we are today confirming our positive outlook for the full year. However, 2025 will remain a year of transformation for us, as delays in aircraft deliveries, certifications, and engine overhauls continue. The disproportionate burden on European airlines due to unilateral EU regulations also continues to put us at a disadvantage in global competition.

    In this challenging environment, we were able to increase our operating result by almost a third in the second quarter and double the Lufthansa Group result. The basis for this economic success is and remains the regained operational stability of our airlines. Thanks to the tremendous commitment of our employees on board and on the ground, we are now able to report positive operating results for the first six months of the year. Our core brand achieved its best stability and punctuality figures since 2016. This not only significantly improved customer satisfaction but also had a noticeable impact on earnings due to lower compensation payments.

    Lufthansa Cargo and Lufthansa Technik once again demonstrated their global leading performance in the first half of 2025. It is also encouraging that our investment in ITA Airways is already contributing to the Group’s financial success.

    We are continuing our necessary efforts to increase efficiency, productivity, and profitability, particularly in the turnaround of our core brand, in order to expand our position as the world’s largest airline group outside the US.”

    Results

    In the second quarter of 2025, the Lufthansa Group increased its revenue by three percent year-on-year to 10.3 billion euros (previous year: 10.0 billion euros). The Lufthansa Group generated an operating profit (Adjusted EBIT) of 871 million euros (previous year: 686 million euros). The improvement in earnings was mainly due to the four percent expansion of the flight program in the passenger business, a positive result from the investment in ITA Airways of 91 million euros, partly due to currency effects, and the doubling of the operating result of the logistics business segment compared to the previous year. As a result, the operating margin increased by 1.5 percentage points year-on-year in the second quarter. The Group net result was 1.01 billion euros, more than double the previous year’s figure (469 million euros). This disproportionate increase was due to extraordinary tax effects and currency effects.

    Passenger numbers and traffic development

    In the first half of the year, more than 61 million passengers flew with the airlines of the Lufthansa Group, an increase of two percent compared with 2024. In the second quarter alone, the airlines welcomed around 37 million passengers (previous year: 35.9 million) on board. Despite a four percent increase in seat capacity, the load factor remained stable compared with the previous year at 82 percent.

    The passenger airlines’ revenue per available seat kilometer (RASK) declined slightly by 0.9 percent in the second quarter compared with 2024 after adjusting for currency effects. This was primarily due to lower average prices in the European business as a result of intensifying competition. In contrast, average revenues from intercontinental traffic remained stable despite a market-wide expansion of capacity. Unit costs (CASK) excluding fuel and emissions expenses rose by 4.1 percent compared with the same quarter last year due to ongoing cost inflation, driven in particular by personnel and location costs.

    Overall, revenue from passenger airlines rose by three percent to 8.2 billion euros in the second quarter (previous year: 8.0 billion euros). Adjusted EBIT increased to 690 million euros (previous year: 581 million euros). All airlines generated a positive result in the second quarter.

    In the first half year, revenue for the passenger airlines totaled 14.1 billion euros, representing growth of around four percent compared with the previous year. Adjusted EBIT improved to -244 million euros (first half of 2024: -337 million euros). The positive development is mainly attributable to lower fuel costs, higher income from investments, and the absence of financial strike-related expenses in the previous year. In contrast to the first half of 2024, network stability also improved significantly, resulting in a 106 million euros reduction in financial expenses due to flight irregularities.

    The integration of ITA Airways, in which the Lufthansa Group holds a 41 percent stake in the first phase, is continuing to progress. The benefits for customers are already clearly noticeable. Since the beginning of July, the airlines of the Lufthansa Group and ITA Airways have harmonized the benefits for their respective status customers, such as mutual lounge access, priority boarding, and conditions for additional baggage.

    Also since July, flights from Lufthansa, SWISS, Austrian Airlines, and Brussels Airlines can be combined with long-haul flights from ITA Airways in a single booking. This has been possible for short- and medium-haul flights since March.

    Starting in September, ITA Airways guests will be able to store their travel profile electronically in the Lufthansa Group Travel ID and benefit from the associated digital customer services of the Lufthansa Group.

    Lufthansa Airlines continues to implement Turnaround program

    Lufthansa Airlines’ Turnaround program remains on track. Increasing operational stability forms the foundation for the success of this program. Significant progress has already been made in this regard: punctuality and reliability achieved their best figures in ten years in the first six months. At the same time, revenues increased. Revenue from flight-related ancillary services rose by more than 25 percent in the first half of the year. In addition, structural measures have been initiated with the announced closure of the customer service center in Peterborough (Canada) and the associated reduction in personnel, which will make Lufthansa Airlines more efficient in the long term. The Turnaround measures are expected to have a gross earnings effect of 1.5 billion euros in 2026 and 2.5 billion euros in 2028.

    Lufthansa Technik at record levels in the first half of the year, Lufthansa Cargo doubles its second quarter result compared with the previous year

    The sustained high demand for air travel is leading to a further increase in demand for maintenance and repair services. Lufthansa Technik’s revenue rose by eight percent to 2.0 billion euros in the second quarter (same quarter last year: 1.8 billion euros). Ongoing material shortages, the US dollar exchange rate and increased US tariffs led to a ten percent increase in expenses compared with the same quarter last year. Nevertheless, Lufthansa Technik achieved an Adjusted EBIT of 310 million euros in the first half of 2025, once again setting a new record.

    Lufthansa Cargo continued the positive trend of the first three months of the year in the second quarter. With an Adjusted EBIT of 73 million euros, the operating result in the second quarter doubled compared with the previous year (second quarter of 2024: 36 million euros). High demand for Asian e-commerce shipments and capacity bottlenecks in sea freight traffic led to an increase in demand and thus a higher load factor for Lufthansa Cargo. Since June 2025, Lufthansa Cargo has been marketing the freight capacity of ITA Airways’ South American routes to Rome. Lufthansa Cargo plans to gradually expand the marketing of belly capacity to all continental and intercontinental routes of the Italian airline. This will further consolidate Lufthansa Cargo’s route network.

    Balance sheet strengthened, debt reduced

    The Lufthansa Group’s operating cashflow amounted to around 2.8 billion euros in the first half of the year (previous year: 2.7 billion euros). Net investments remained at the previous year’s level at 1.6 billion euros. Overall, the Lufthansa Group generated an Adjusted Free Cashflow of 1.04 billion euros (previous year: 878 million euros).

    Net debt decreased slightly to 5.5 billion euros compared with the end of 2024 (December 31, 2024: 5.7 billion euros). Net pension obligations fell by 400 million euros to 2.2 billion euros due to the higher discount rate. The Lufthansa Group’s available liquidity increased by 100 million euros compared with the beginning of the year to 11.1 billion euros.

    Till Streichert, Chief Financial Officer of Deutsche Lufthansa AG:

    “We continue to operate in a volatile environment with high uncertainty and high cost pressure. I am therefore pleased to be able to present another quarterly result that is significantly above the previous year and to report progress in our Turnaround program. In our assessment, opportunities and risks are balanced. We therefore continue to expect a full year 2025 result significantly above the previous year and Adjusted Free Cashflow at approximately the previous year’s level. We thereby confirm our guidance. At the same time, we are closely monitoring macroeconomic developments and can respond flexibly to changes in the business environment.”

    Outlook

    Global demand for air travel remains strong. However, geopolitical crises and macroeconomic uncertainties, particularly commodity price and exchange rate volatility, are affecting the accuracy of forecasts for the rest of the year. In addition, the tendency of many travelers to book at shorter notice is limiting visibility for the second half of the year.

    Despite ongoing global uncertainties, the Lufthansa Group is reaffirming its forecast for the full year and expects operating profit (Adjusted EBIT) to be significantly higher than last year (previous year: 1.6 billion euros) with capacity growth of around four percent.

    The company continues to expect Adjusted Free Cashflow to remain at the previous year’s level (previous year: 840 million euros). This includes net investments of 2.7 to 3.3 billion euros, primarily for the ongoing fleet renewal.

    Among other things, this will finance the remaining payments for the first Boeing 787-9 long-haul aircraft at the group’s largest hub in Frankfurt. By the end of the year, up to ten of these ‘Dreamliner’ with the new Allegris seat generation are expected to be added to the group’s fleet. In summer 2026, Lufthansa Airlines plans to operate a total of 15 Boeing 787-9 s from Frankfurt, more than doubling the number of aircraft offering the Lufthansa Allegris premium product to customers.

    Further information

    Further information on the results of individual business segments will be published in the report for the second quarter of 2025. This will be published simultaneously with this press release on July 31 at 7:00 a.m. CEST at https://investor-relations.lufthansagroup.com/en/financial-reports-publications/financial-reports.html.

    Traffic figures for the second quarter of 2025 will also be published at 7:00 a.m. CEST at https://investor-relations.lufthansagroup.com/en/financial-reports-publications/traffic-figures.html.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Lufthansa Group increases Adjusted EBIT by 27 percent in the second quarter and confirms full-year forecast

    Source: Lufthansa Group

    Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG:

    “The Lufthansa Group remains on course. Although the second quarter was again marked by geopolitical crises and economic uncertainties, we are today confirming our positive outlook for the full year. However, 2025 will remain a year of transformation for us, as delays in aircraft deliveries, certifications, and engine overhauls continue. The disproportionate burden on European airlines due to unilateral EU regulations also continues to put us at a disadvantage in global competition.

    In this challenging environment, we were able to increase our operating result by almost a third in the second quarter and double the Lufthansa Group result. The basis for this economic success is and remains the regained operational stability of our airlines. Thanks to the tremendous commitment of our employees on board and on the ground, we are now able to report positive operating results for the first six months of the year. Our core brand achieved its best stability and punctuality figures since 2016. This not only significantly improved customer satisfaction but also had a noticeable impact on earnings due to lower compensation payments.

    Lufthansa Cargo and Lufthansa Technik once again demonstrated their global leading performance in the first half of 2025. It is also encouraging that our investment in ITA Airways is already contributing to the Group’s financial success.

    We are continuing our necessary efforts to increase efficiency, productivity, and profitability, particularly in the turnaround of our core brand, in order to expand our position as the world’s largest airline group outside the US.”

    Results

    In the second quarter of 2025, the Lufthansa Group increased its revenue by three percent year-on-year to 10.3 billion euros (previous year: 10.0 billion euros). The Lufthansa Group generated an operating profit (Adjusted EBIT) of 871 million euros (previous year: 686 million euros). The improvement in earnings was mainly due to the four percent expansion of the flight program in the passenger business, a positive result from the investment in ITA Airways of 91 million euros, partly due to currency effects, and the doubling of the operating result of the logistics business segment compared to the previous year. As a result, the operating margin increased by 1.5 percentage points year-on-year in the second quarter. The Group net result was 1.01 billion euros, more than double the previous year’s figure (469 million euros). This disproportionate increase was due to extraordinary tax effects and currency effects.

    Passenger numbers and traffic development

    In the first half of the year, more than 61 million passengers flew with the airlines of the Lufthansa Group, an increase of two percent compared with 2024. In the second quarter alone, the airlines welcomed around 37 million passengers (previous year: 35.9 million) on board. Despite a four percent increase in seat capacity, the load factor remained stable compared with the previous year at 82 percent.

    The passenger airlines’ revenue per available seat kilometer (RASK) declined slightly by 0.9 percent in the second quarter compared with 2024 after adjusting for currency effects. This was primarily due to lower average prices in the European business as a result of intensifying competition. In contrast, average revenues from intercontinental traffic remained stable despite a market-wide expansion of capacity. Unit costs (CASK) excluding fuel and emissions expenses rose by 4.1 percent compared with the same quarter last year due to ongoing cost inflation, driven in particular by personnel and location costs.

    Overall, revenue from passenger airlines rose by three percent to 8.2 billion euros in the second quarter (previous year: 8.0 billion euros). Adjusted EBIT increased to 690 million euros (previous year: 581 million euros). All airlines generated a positive result in the second quarter.

    In the first half year, revenue for the passenger airlines totaled 14.1 billion euros, representing growth of around four percent compared with the previous year. Adjusted EBIT improved to -244 million euros (first half of 2024: -337 million euros). The positive development is mainly attributable to lower fuel costs, higher income from investments, and the absence of financial strike-related expenses in the previous year. In contrast to the first half of 2024, network stability also improved significantly, resulting in a 106 million euros reduction in financial expenses due to flight irregularities.

    The integration of ITA Airways, in which the Lufthansa Group holds a 41 percent stake in the first phase, is continuing to progress. The benefits for customers are already clearly noticeable. Since the beginning of July, the airlines of the Lufthansa Group and ITA Airways have harmonized the benefits for their respective status customers, such as mutual lounge access, priority boarding, and conditions for additional baggage.

    Also since July, flights from Lufthansa, SWISS, Austrian Airlines, and Brussels Airlines can be combined with long-haul flights from ITA Airways in a single booking. This has been possible for short- and medium-haul flights since March.

    Starting in September, ITA Airways guests will be able to store their travel profile electronically in the Lufthansa Group Travel ID and benefit from the associated digital customer services of the Lufthansa Group.

    Lufthansa Airlines continues to implement Turnaround program

    Lufthansa Airlines’ Turnaround program remains on track. Increasing operational stability forms the foundation for the success of this program. Significant progress has already been made in this regard: punctuality and reliability achieved their best figures in ten years in the first six months. At the same time, revenues increased. Revenue from flight-related ancillary services rose by more than 25 percent in the first half of the year. In addition, structural measures have been initiated with the announced closure of the customer service center in Peterborough (Canada) and the associated reduction in personnel, which will make Lufthansa Airlines more efficient in the long term. The Turnaround measures are expected to have a gross earnings effect of 1.5 billion euros in 2026 and 2.5 billion euros in 2028.

    Lufthansa Technik at record levels in the first half of the year, Lufthansa Cargo doubles its second quarter result compared with the previous year

    The sustained high demand for air travel is leading to a further increase in demand for maintenance and repair services. Lufthansa Technik’s revenue rose by eight percent to 2.0 billion euros in the second quarter (same quarter last year: 1.8 billion euros). Ongoing material shortages, the US dollar exchange rate and increased US tariffs led to a ten percent increase in expenses compared with the same quarter last year. Nevertheless, Lufthansa Technik achieved an Adjusted EBIT of 310 million euros in the first half of 2025, once again setting a new record.

    Lufthansa Cargo continued the positive trend of the first three months of the year in the second quarter. With an Adjusted EBIT of 73 million euros, the operating result in the second quarter doubled compared with the previous year (second quarter of 2024: 36 million euros). High demand for Asian e-commerce shipments and capacity bottlenecks in sea freight traffic led to an increase in demand and thus a higher load factor for Lufthansa Cargo. Since June 2025, Lufthansa Cargo has been marketing the freight capacity of ITA Airways’ South American routes to Rome. Lufthansa Cargo plans to gradually expand the marketing of belly capacity to all continental and intercontinental routes of the Italian airline. This will further consolidate Lufthansa Cargo’s route network.

    Balance sheet strengthened, debt reduced

    The Lufthansa Group’s operating cashflow amounted to around 2.8 billion euros in the first half of the year (previous year: 2.7 billion euros). Net investments remained at the previous year’s level at 1.6 billion euros. Overall, the Lufthansa Group generated an Adjusted Free Cashflow of 1.04 billion euros (previous year: 878 million euros).

    Net debt decreased slightly to 5.5 billion euros compared with the end of 2024 (December 31, 2024: 5.7 billion euros). Net pension obligations fell by 400 million euros to 2.2 billion euros due to the higher discount rate. The Lufthansa Group’s available liquidity increased by 100 million euros compared with the beginning of the year to 11.1 billion euros.

    Till Streichert, Chief Financial Officer of Deutsche Lufthansa AG:

    “We continue to operate in a volatile environment with high uncertainty and high cost pressure. I am therefore pleased to be able to present another quarterly result that is significantly above the previous year and to report progress in our Turnaround program. In our assessment, opportunities and risks are balanced. We therefore continue to expect a full year 2025 result significantly above the previous year and Adjusted Free Cashflow at approximately the previous year’s level. We thereby confirm our guidance. At the same time, we are closely monitoring macroeconomic developments and can respond flexibly to changes in the business environment.”

    Outlook

    Global demand for air travel remains strong. However, geopolitical crises and macroeconomic uncertainties, particularly commodity price and exchange rate volatility, are affecting the accuracy of forecasts for the rest of the year. In addition, the tendency of many travelers to book at shorter notice is limiting visibility for the second half of the year.

    Despite ongoing global uncertainties, the Lufthansa Group is reaffirming its forecast for the full year and expects operating profit (Adjusted EBIT) to be significantly higher than last year (previous year: 1.6 billion euros) with capacity growth of around four percent.

    The company continues to expect Adjusted Free Cashflow to remain at the previous year’s level (previous year: 840 million euros). This includes net investments of 2.7 to 3.3 billion euros, primarily for the ongoing fleet renewal.

    Among other things, this will finance the remaining payments for the first Boeing 787-9 long-haul aircraft at the group’s largest hub in Frankfurt. By the end of the year, up to ten of these ‘Dreamliner’ with the new Allegris seat generation are expected to be added to the group’s fleet. In summer 2026, Lufthansa Airlines plans to operate a total of 15 Boeing 787-9 s from Frankfurt, more than doubling the number of aircraft offering the Lufthansa Allegris premium product to customers.

    Further information

    Further information on the results of individual business segments will be published in the report for the second quarter of 2025. This will be published simultaneously with this press release on July 31 at 7:00 a.m. CEST at https://investor-relations.lufthansagroup.com/en/financial-reports-publications/financial-reports.html.

    Traffic figures for the second quarter of 2025 will also be published at 7:00 a.m. CEST at https://investor-relations.lufthansagroup.com/en/financial-reports-publications/traffic-figures.html.

    MIL OSI Global Banks –

  • MIL-OSI Europe: Mats Persson and Lotta Edholm to deliver opening addresses at EU education meetings in Sweden

    Source: Government of Sweden

    During the week of 20–24 March, several meetings focusing on education will be held as part of the Swedish Presidency of the Council of the EU. Skills supply, the green transition and education for Ukrainian pupils are among the agenda items. Minister for Education Mats Persson and Minister for Schools Lotta Edholm will both deliver opening addresses.

    MIL OSI Europe News –

  • MIL-OSI Europe: Conference on Institutional Protection of Fundamental Rights in Times of Crises

    Source: Government of Sweden

    On 20–21 April, the Swedish Presidency of the Council of the European Union and the European Union Agency for Fundamental Rights (FRA) will hold a conference in Lund, focusing on institutional protection of human rights in times of crisis.

    MIL OSI Europe News –

  • MIL-OSI Europe: Inflation coming down and economic situation weakening

    Source: Government of Sweden

    Inflation is starting to come down, but Swedish businesses and households are still burdened by high prices and interest rates. This means a weaker economic situation and that the Swedish economy is considered to be in a recession that will last until 2025. These are the Ministry of Finance’s conclusions presented in a new forecast of the economic outlook.

    MIL OSI Europe News –

  • MIL-OSI Europe: Minister for Health Care raised important health care issues for the EU at World Health Assembly

    Source: Government of Sweden

    The theme of this year’s World Health Assembly (WHA) was the World Health Organization (WHO) at 75 and the work it does. Representing the EU and its Member States, Minister for Health Care Acko Ankarberg Johansson took part on the first two days (21–22 May).

    MIL OSI Europe News –

  • MIL-OSI Europe: Enhanced cooperation between Swedish and US special forces

    Source: Government of Sweden

    (New version) Today, 3 December, Sweden and the United States have signed a statement of intent on enhanced cooperation between Swedish and US special forces. The contents of the statement are secret, but it will allow for enhanced operational and capability-developing cooperation between special forces.

    MIL OSI Europe News –

  • MIL-OSI Europe: Swedish Presidency of the Council of the EU and European Commission to co-host high level conference on LGBTIQ people’s equal rights

    Source: Government of Sweden

    On 12 April, participants from throughout the EU will gather to jointly identify and share experiences from their work promoting LGBTIQ people’s rights and opportunities. It will also serve as a springboard for continued work on the EU strategy for LGBTIQ people’s equal rights.

    MIL OSI Europe News –

  • MIL-OSI Europe: Sweden supports relocation of WHO office in solidarity with Ukraine

    Source: Government of Sweden

    Sweden and the majority of World Health Organization (WHO) Member States in the WHO European Region have decided to relocate the WHO European Office for the Prevention and Control of Noncommunicable Diseases from Moscow to Copenhagen. The decision was taken in support of Ukraine and enables the WHO to continue its work fighting noncommunicable diseases in Europe.

    MIL OSI Europe News –

  • MIL-Evening Report: The Muslim world has been strong on rhetoric, short on action over Gaza and Afghanistan

    Source: The Conversation (Au and NZ) – By Amin Saikal, Emeritus Professor of Middle Eastern and Central Asian Studies, Australian National University; and Vice Chancellor’s Strategic Fellow, Australian National University

    When it comes to dealing with two of the biggest current crises in the Muslim world – the devastation of Gaza and the Taliban’s draconian rule in Afghanistan – Arab and Muslim states have been staggeringly ineffective.

    Their chief body, the Organisation of Islamic Cooperation (OIC), in particular, has been strong on rhetoric but very short on serious, tangible action.

    The OIC, headquartered in Saudi Arabia, is composed of 57 predominantly Muslim states. It is supposed to act as a representative and consultative body and make decisions and recommendations on the major issues that affect Muslims globally. It calls itself the “collective voice of the Muslim world”.

    Yet the body has proved to be toothless in the face of Israel’s relentless assault on Gaza, triggered in response to the Hamas attacks of October 7 2023.

    The OIC has equally failed to act against the Taliban’s reign of terror in the name of Islam in ethnically diverse Afghanistan.

    Many strong statements

    Despite its projection of a united umma (the global Islamic community, as defined in my coauthored book Islam Beyond Borders), the OIC has ignominiously been divided on Gaza and Afghanistan.

    True, it has condemned Israel’s Gaza operations. It’s also called for an immediate, unconditional ceasefire and the delivery of humanitarian aid to the starving population of the strip.

    It has also rejected any Israeli move to depopulate and annex the enclave, as well as the West Bank. These moves would render the two-state solution to the long-running Israeli–Palestinian conflict essentially defunct.

    Further, the OIC has welcomed the recent joint statement by the foreign ministers of 28 countries (including the United Kingdom, many European Union members and Japan) calling for an immediate ceasefire in Gaza, as well as France’s decision to recognise the state of Palestine.

    The OIC is good at putting out statements. However, this approach hasn’t varied much from that of the wider global community. It is largely verbal, and void of any practical measures.

    What the group could do for Gaza

    Surely, Muslim states can and should be doing more.

    For example, the OIC has failed to persuade Israel’s neighbouring states – Egypt and Jordan, in particular – to open their border crossings to allow humanitarian aid to flow into Gaza, the West Bank or Israel, in defiance of Israeli leaders.

    Nor has it been able to compel Egypt, Jordan, the United Arab Emirates, Bahrain, Sudan and Morocco to suspend their relations with the Jewish state until it agrees to a two-state solution.

    Further, the OIC has not adopted a call by Malaysian Prime Minister Anwar Ibrahim and the United Nations special rapporteur on Palestinian territories, Francesca Albanese, for Israel to be suspended from the UN.

    Nor has it urged its oil-rich Arab members, in particular Saudi Arabia and the UAE, to harness their resources to prompt US President Donald Trump to halt the supply of arms to Israel and pressure Israeli Prime Minister Benjamin Netanyahu to end the war.

    Stronger action on Afghanistan, too

    In a similar vein, the OIC has failed to exert maximum pressure on the ultra-extremist and erstwhile terrorist Taliban government in Afghanistan.

    Since sweeping back into power in 2021, the Taliban has ruled in a highly repressive, misogynist and draconian fashion in the name of Islam. This is not practised anywhere else in the Muslim world.

    In December 2022, OIC Secretary General Hissein Brahim Taha called for a global campaign to unite Islamic scholars and religious authorities against the Taliban’s decision to ban girls from education.

    But this was superseded a month later, when the OIC expressed concern over the Taliban’s “restrictions on women”, but asked the international community not to “interfere in Afghanistan’s internal affairs”. This was warmly welcomed by the Taliban.

    In effect, the OIC – and therefore most Muslim countries – have adopted no practical measures to penalise the Taliban for its behaviour.

    It has not censured the Taliban nor imposed crippling sanctions on the group. And while no Muslim country has officially recognised the Taliban government (only Russia has), most OIC members have nonetheless engaged with the Taliban at political, economic, financial and trade levels.

    Why is it so divided?

    There are many reasons for the OIC’s ineffectiveness.

    For one, the group is composed of a politically, socially, culturally and economically diverse assortment of members.

    But more importantly, it has not functioned as a “bridge builder” by developing a common strategy of purpose and action that can overcome the geopolitical and sectarian differences of its members.

    In the current polarised international environment, the rivalry among its member states – and with major global powers such as the United States and China – has rendered the organisation a mere talking shop.

    This has allowed extremist governments in both Israel and Afghanistan to act with impunity.

    It is time to look at the OIC’s functionality and determine how it can more effectively unite the umma.

    This may also be an opportunity for its member states to develop an effective common strategy that could help the cause of peace and stability in the Muslim domain and its relations with the outside world.

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

    – ref. The Muslim world has been strong on rhetoric, short on action over Gaza and Afghanistan – https://theconversation.com/the-muslim-world-has-been-strong-on-rhetoric-short-on-action-over-gaza-and-afghanistan-262121

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Chairman Wicker and Chairman Risch Introduce Bill to Ensure Europe Pays for Ukraine Military Sales

    US Senate News:

    Source: United States Senator for Mississippi Roger Wicker

    WASHINGTON – U.S. Senators Roger Wicker, R-Miss., Chairman of the Senate Armed Services Committee, and James Risch, R-ID, Chairman of the Senate Foreign Relations Committee, announced they will introduce new legislation to support President Trump’s efforts to achieve peace in Ukraine, push back on Russian aggression, and ensure America’s allies are paying their fair share to end this conflict.

    This new legislation, the PEACE Act, builds on the successful NATO summit this summer, which produced a historic agreement to increase NATO defense spending and revitalize alliance burden sharing.  The PEACE Act creates a fund at the U.S. treasury that would allow allies to deposit money to replenish U.S. military equipment donated to Ukraine.

    Upon introducing the bill, Chairman Wicker issued the following statement:

    “President Trump has made clear that he will not tolerate Russian tyrant Vladimir Putin’s continued targeting of civilians in Ukraine.  The death and destruction must end, but Putin will not stop unless it is made clear to him that there is no path to success and that continued war will lead to massive costs for him and Russia. Today, we are introducing the PEACE Act, which gives President Trump and our NATO allies an additional option to deliver military aid to Ukraine. The PEACE Act enables our European partners to finance replenishments so that the U.S. military can continue drawdown packages of weapons to Ukraine. This is the fastest way to arm Ukraine as well as to minimize the strategic and military threat posed by Russia to the U.S. and NATO. The PEACE Act, in conjunction with the purchase of new military equipment and the prospect of imposing a crippling sanctions regime, shows Putin that neither escalation nor attrition will allow him to achieve his war aims.”

    Chairman Risch said: “Peace is only possible through strength. President Trump’s work with our NATO allies ensures they cover the cost of weapons for Ukraine, and this bill will give him the tool he needs to do so. Together, we will send a clear message to Putin that there are consequences for his refusal to negotiate in good faith.”

    Background

    1. The historic agreement by NATO allies to spend 5% of their GDP on defense is the culmination of President Trump’s years long effort to revitalize the alliance and ensure our allies are paying their fair share.
    1. The PEACE Act will transfer American weapons to Ukraine and use NATO allies’ funds to buy more modern equipment, in alignment with President Trump’s plan.
    1. The PEACE Act complements existing tools that the President and our NATO allies are already using, such as the JUMPSTART initiative, which allows Europeans to pay to produce new U.S. equipment, that will be delivered to Ukraine upon completion. The PEACE Act will serve as a bridge to deliver arms in the near-term while new equipment is being built over the long-term.

    MIL OSI USA News –

  • MIL-OSI: Security Federal Corporation Announces Increase in Quarterly and Year-To-Date Earnings

    Source: GlobeNewswire (MIL-OSI)

    AIKEN, S.C., July 30, 2025 (GLOBE NEWSWIRE) — Security Federal Corporation (the “Company”) (OTCID: SFDL), the holding company for Security Federal Bank (the “Bank”), today announced earnings and financial results for the three and six months ended June 30, 2025.

    The Company reported net income available to common shareholders of $2.4 million, or $0.75 per common share, for the quarter ended June 30, 2025, compared to $2.1 million, or $0.66 per common share, for the second quarter of 2024. Year-to-date net income available to common shareholders was $5.0 million, or $1.56 per common share, for the six months ended June 30, 2025, compared to $3.9 million, or $1.20 per common share, during the six months ended June 30, 2024. The increase in both quarterly and year-to-date net income available to common shareholders was primarily due to increases in net interest income and non-interest income, as well as a decrease in the provision for credit losses, which were partially offset by an increase in non-interest expense, provision for income taxes and an increase in the payment of preferred stock dividends during 2025.

    Second Quarter Financial Highlights

    • Net interest income increased $1.1 million, or 11.1%, to $11.3 million as interest income increased and interest expense decreased.
    • Total interest income increased $629,000, or 3.3%, to $19.4 million while total interest expense decreased $502,000, or 5.8%, to $8.1 million during the second quarter of 2025 compared to the same quarter in 2024. The increase in interest income was the result of a $1.1 million increase in interest income from loans and a $258,000 increase in income from other interest-earning assets, which was partially offset by a decrease in interest income from investments. Interest expense decreased during the second quarter of 2025 due to lower market interest rates and the payoff of outstanding borrowings with the Federal Reserve, which resulted in a lower average balance of these interest-bearing liabilities compared to the second quarter of 2024.
    • Non-interest income increased $141,000, or 5.7%, to $2.6 million during the second quarter of 2025 compared to the same quarter in the prior year primarily due to a $106,000 increase in rental income and $62,000 gain on sale of land held for sale. During the first quarter of 2025, we purchased a multi-tenant property resulting in an increase to rental income. The property is intended to be the future site of a full-service branch.
    • Non-interest expense increased $692,000, or 7.2%, to $10.4 million during the quarter ended June 30, 2025, compared to the same quarter in the prior year primarily due to increases in salaries and expenses for employee benefits, occupancy expense, debit card expenses and cloud services expenses, which were partially offset by a decrease in expenses for advertising and depreciation and maintenance of equipment.
      Quarter Ended
    (Dollars in Thousands, except for Earnings per Share) 6/30/2025   6/30/2024
    Total interest income $ 19,449   $ 18,820
    Total interest expense   8,137     8,639
    Net interest income   11,312     10,181
    Provision for credit losses   –     175
    Net interest income after provision for credit losses   11,312     10,006
    Non-interest income   2,595     2,454
    Non-interest expense   10,361     9,669
    Income before income taxes   3,546     2,791
    Provision for income taxes   756     565
    Net income   2,790     2,226
    Preferred stock dividends   415     97
    Net income available to common shareholders $ 2,375   $ 2,129
    Earnings per common share (basic) $ 0.75   $ 0.66


    Year to Date (Six Months) Comparative Financial Highlights

    • Net interest income increased $2.4 million, or 11.8%, to $22.5 million during the six months ended June 30, 2025 compared to the same period in the prior year.
    • Total interest income increased $1.1 million, or 3.0%, to $38.7 million while total interest expense decreased $1.2 million, or 7.1%, to $16.1 million during the six months ended June 30, 2025 compared to the same period in the prior year.
    • Non-interest income increased $264,000, or 5.5%, to $5.0 million during the six months ended June 30, 2025 compared to the same period in the prior year primarily due to an increase in rental income.
    • Non-interest expense increased $898,000, or 4.7%, to $20.2 million.
      Six Months Ended
    (Dollars in Thousands, except for Earnings per Share) 6/30/2025   6/30/2024
    Total interest income $ 38,682   $ 37,540
    Total interest expense   16,141     17,376
    Net interest income   22,541     20,164
    Provision for credit losses   –     510
    Net interest income after provision for credit losses   22,541     19,654
    Non-interest income   5,039     4,775
    Non-interest expense   20,202     19,304
    Income before income taxes   7,378     5,125
    Provision for income taxes   1,582     1,146
    Net income   5,796     3,979
    Preferred stock dividends   830     97
    Net income available to common shareholders $ 4,966   $ 3,882
    Earnings per common share (basic) $ 1.56   $ 1.20


    Credit Quality

    • The Company recorded no provision for credit losses during the first six months of 2025 compared to a $475,000 provision for credit losses on loans and a $35,000 provision for credit losses on unfunded commitments, resulting in a total provision for credit losses of $510,000 for the first six months of 2024.
    • Non-performing assets were $5.9 million, or 0.37% of total assets, at June 30, 2025, compared to $7.6 million, or 0.47% of total assets, at December 31, 2024.
    • The allowance for credit losses as a percentage of gross loans was 2.00% at June 30, 2025, compared to 1.98% at December 31, 2024.
    At Period End (dollars in thousands): 6/30/2025 12/31/2024 6/30/2024
    Non-performing assets $ 5,954   $ 7,636   $ 7,122  
    Non-performing assets to total assets   0.37 %   0.47 %   0.46 %
    Allowance for credit losses $ 14,007   $ 13,894   $ 12,958  
    Allowance for credit losses to gross loans   2.00 %   1.98 %   1.95 %


    Balance Sheet Highlights and Capital Management

    • Total assets were $1.6 billion at June 30, 2025, a year-over-year increase of $82.1 million, or 5.3%, and a $13.5 million, or 0.8%, increase since December 31, 2024.
    • Cash and cash equivalents decreased $36.1 million during the six months ended June 30, 2025 to $142.2 million at June 30, 2025, primarily because of the repayment of borrowings with the Federal Reserve.
    • Total loans receivable, net was $685.5 million at June 30, 2025, a $1.6 million, or 0.2%, decrease since December 31, 2024.
    • Investment securities increased $46.8 million, or 7.1%, during the first half of the year to $707.6 million at June 30, 2025, due to the purchases of investment securities exceeding maturities and principal paydowns.
    • Deposits increased $59.2 million, or 4.5%, during the first half of 2025 to $1.4 billion at June 30, 2025.
    • Borrowings decreased $53.4 million, or 57.4%, during the first half of 2025 to $39.6 million at June 30, 2025, primarily due to the repayment of borrowings with the Federal Reserve Bank.
    • Common equity book value per share increased to $34.02 at June 30, 2025, from $31.21 at December 31, 2024.
    BALANCE SHEET HIGHLIGHTS
    Dollars in thousands (except per share amounts) 6/30/2025 12/31/2024 6/30/2024
    Total assets $ 1,625,236   $ 1,611,773   $ 1,543,101  
    Cash and cash equivalents   142,190     178,277     138,350  
    Total loans receivable, net   685,501     687,149     655,202  
    Investment securities   707,609     660,823     662,035  
    Deposits   1,383,201     1,324,033     1,236,154  
    Borrowings   39,566     92,964     118,641  
    Total shareholders’ equity   191,279     182,389     175,891  
    Common shareholders’ equity   108,330     99,440     92,942  
    Common equity book value per share $ 34.02   $ 31.21   $ 29.08  
    Total risk based capital to risk weighted assets (1)   20.46 %   19.96 %   19.49 %
    CET1 capital to risk weighted assets (1)   19.20 %   18.71 %   18.24 %
    Tier 1 leverage capital ratio (1)   10.54 %   9.88 %   10.23 %
    (1) – Ratio is calculated using Bank only information and not consolidated information

    Security Federal has 19 full-service branches located in Aiken, Ballentine, Clearwater, Columbia, Graniteville, Langley, Lexington, North Augusta, Ridge Spring, Wagener and West Columbia, South Carolina and Augusta and Evans, Georgia. A full range of financial services, including trust and investments, are provided by the Bank and insurance services are provided by the Bank’s wholly owned subsidiary, Security Federal Insurance, Inc.  

    Forward-looking statements:

    Certain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding the Company’s mission and vision. These forward-looking statements are based upon current management expectations and may, therefore, involve risks and uncertainties. The Company’s actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety or range of factors including, but not limited to: potential adverse impacts to economic conditions in our local market area or other aspects of the Company’s business, operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession or slowed economic growth; economic conditions in the Company’s primary market area; demand for residential, commercial business and commercial real estate, consumer, and other types of loans; success of new products; competitive conditions between banks and non-bank financial service providers; changes in the Community Development Capital Initiative (CDCI) Program; changes in management’s business strategies, including expectations regarding key growth initiatives and strategic priorities; legislative or regulatory changes that adversely affect the Company’s business, including the interpretation of regulatory capital or other rules; the ability to attract and retain deposits; the availability of resources to address changes in laws, rules, or regulations or to respond to regulatory actions; adverse changes in the securities markets; changes in accounting policies and practices, as may be adopted by the financial institution regulatory agencies or the Financial Accounting Standards Board, including additional guidance and interpretation on accounting issues and details of the implementation of new accounting methods; technology factors affecting operations, including disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems or on the third-party vendors who perform critical processing functions for us; pricing of products and services; environmental, social and governance goals and targets; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, and other external events on our business; and other risks detailed in the Company’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. These factors should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake any responsibility to update or revise any forward-looking statement.

    The MIL Network –

  • Trump says US to impose 25% tariff on India from August 1

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump on Wednesday imposed a 25% tariff on goods imported from India starting August 1, along with an unspecified penalty for buying Russian weapons and oil, potentially straining relations with the world’s most populous democracy.

    The U.S. decision singles out India more severely than other major trading partners, and threatens to unravel months of talks between the two countries, undermining a key strategic partner of Washington’s and a counterbalance to China.

    “While India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country,” Trump wrote in a Truth Social post.

    “They have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD!”

    The White House has previously warned India about its high average applied tariffs – nearly 39% on agricultural products – with rates climbing to 45% on vegetable oils and around 50% on apples and corn.

    Russia continued to be the top oil supplier to India during the first six months of 2025, making up 35% of overall supplies.

    The U.S. currently has a $45.7 billion trade deficit with India.

    The news pushed the Indian rupee down 0.4% to around 87.80 against the U.S. dollar in the non-deliverable forwards market, from its close at 87.42 during market hours. Gift Nifty futures were trading at 24,692 points, down 0.6%.

    CONTENTIOUS ISSUES

    “Higher tariffs for India compared to countries it competes with, for exports to the U.S., are going to be challenging,” said Ranen Banerjee, a partner of economic advisory services at PwC India.

    India’s commerce ministry, which is leading the trade talks, did not immediately respond to a request for comment.

    U.S. and Indian negotiators had held multiple rounds of discussions to resolve contentious issues, particularly over market access into India for U.S. agricultural and dairy products.

    Despite progress in some areas, Indian officials resisted opening the domestic market to imports of wheat, corn, rice and genetically modified soybeans, citing risks to the livelihood of millions of Indian farmers.

    The U.S. had flagged concerns over India’s increasing and burdensome import-quality requirements, among its many barriers to trade, in a report released in March.

    The new tariffs are expected to impact India’s goods exports to the U.S., estimated at around $87 billion in 2024, including labour-intensive products such as garments, pharmaceuticals, gems and jewelry, and petrochemicals.

    India now joins a growing list of countries facing higher tariffs under Trump’s “Liberation Day” trade policy, aimed at reshaping U.S. trade relations by demanding greater reciprocity.

    The setback comes despite earlier commitments by Prime Minister Narendra Modi and Trump to conclude the first phase of a trade deal by autumn 2025 and expand bilateral trade to $500 billion by 2030, from $191 billion in 2024.

    Indian officials have previously indicated that they view the U.S. as a key strategic partner, particularly in counterbalancing China. But they have emphasized the need to preserve policy space on agriculture, data governance, and state subsidies.

    HOPES FOR A DEAL

    It was not immediately clear whether the announcement was a negotiating tactic. While Trump railed against Japan in a June 30 Truth Social post and said there would likely be no deal with the North Asian nation, a deal was agreed on July 22.

    An Indian government official told Reuters that New Delhi continued to remain engaged with the United States to seal an agreement.

    Economists, too, remained hopeful.

    “While the negotiations seems to have broken down, we don’t think the trade-deal haggling between the two nations is over yet,” Madhavi Arora, an economist at Emkay Global.

    (Reuters)

  • MIL-OSI United Kingdom: Students get exclusive preview of Salisbury River Park play area

    Source: United Kingdom – Executive Government & Departments

    News story

    Students get exclusive preview of Salisbury River Park play area

    The Salisbury River Park project reduces the flood risk to over 350 homes and businesses along the River Avon.

    Children from Sarum St. Paul’s C of E Primary School at the park

    Students from Sarum St. Paul’s C of E Primary School were given an exclusive preview of Salisbury River Park before its official opening, allowing them to see their creative designs incorporated into the new public space and experience the innovative play area first hand. 

    The visit on 23 July 2025 provided the young designers with the exciting opportunity to witness how their contributions have helped shape this transformational project, which will serve as a legacy for future generations whilst protecting over 350 homes and businesses from flooding. 

    As part of the design process, all pupils of Sarum St. Paul’s C of E Primary School were invited to take part in a design competition, with workshops conducted for Year 5 and 6 students to gather input on what they would like to see in the play park design. Several students’ artwork was chosen and incorporated into the final design through engraved images on the play equipment and sculpted animals. 

    Eight pupils and teachers visited the site to discover their designs integrated throughout the play park and test the new play equipment. 

    Lizzie Weaver, Headteacher of Sarum St. Paul’s C of E Primary School, said:  

    We had such a lovely time visiting the new play park. The children were incredibly excited to find their designs that had been carved into the equipment.

    The area is a beautiful space for families to enjoy, and the placement of equipment, benches and artwork has been carefully considered. I look forward to returning soon with my own children!

    Our school has loved being involved with the River Park Project, it has enhanced so many curriculum areas and provided many wider opportunities for our pupils.

    Andy Wallis, Salisbury River Park project lead at the Environment Agency, said:  

    It’s wonderful to see the young people from Sarum St. Paul’s experiencing their designs come to life in this special preview. Their creativity and input have genuinely contributed to making this play area a space that reflects what local children want to see.

    The fact that their artwork is now permanently part of this transformational project shows how community engagement can create lasting benefits for future generations.

    Andy Wallis at Salisbury River Park Ashley Rd Play Park pre-opening event with Cllr Victoria Charleston

    Cllr Victoria Charleston, councillor for the St Paul’s Ward, said:  

    It was very exciting to visit the new playpark and to see the schoolchildren experiencing it for the first time. The children who joined us had won the art competition, and their artwork is now hidden throughout the park.

    They thoroughly enjoyed exploring the new equipment, which will be a huge asset for the city council and the community. 

    We’ve watched this project come together, both as a city and as a family, and we’re excited to see it officially open. Thank you to the Environment Agency for all its dedication and hard work.

    Cllr Chris Taylor, councillor for the St Paul’s Ward, said:  

    The new play area on Ashley Road is an impressive facility with colourful design using natural materials, incorporating accessibility features like flat surfacing, wheelchair access, and equipment designed for all children to enjoy safely.

    I was particularly pleased to see the Environment Agency’s engagement with Sarum St Paul’s School, ensuring pupils who contributed to the park’s graphics were the first to play there.  

    Despite weather delays, I’m assured it will open before the end of school holidays, which will be marvellous for local families.

    The Salisbury River Park project is a collaboration between the Environment Agency, Wiltshire Council and Salisbury City Council, and is constructed by Kier. Construction began in summer 2022 and is due to complete this autumn, despite challenges including the exceptionally wet 2023/24 winter – the wettest in the Avon catchment since records began in 1871.  

    Once the grass has fully established, the play park will be opened, and we are committed that this will happen during the school summer holidays. 

    The scheme has created enhanced riverside habitat for wildlife, removed obstructions to allow fish migration upstream, and established high-quality public open space. Over 650 metres of new and improved cycle routes and 1,600 metres of footpaths have been created to improve access and encourage active travel. More than 1,000 new trees have been planted, enhancing habitat for water voles, otters, bats and birds. 

    The park design, created by Green Play Projects, is based on the local ecology, with the central climbing feature mimicking the burrow of a water vole and filled with information and activities reflecting the flora and fauna of the River Avon. The development has been designed in consultation with DIGS Salisbury (Disability Interest Group of Salisbury), ensuring accessibility for all abilities so children can play side by side. 

    The park’s colour palette was created by artist Zac Newham in collaboration with students from South Wilts Grammar School, chosen to reflect natural colours observed within the river whilst maintaining visual accessibility. 

    Background

    • Phase 1 of Salisbury River Park is due to complete autumn 2025. 
    • The project reduced flood risk to over 350 homes and businesses. 
    • The scheme has created new wetland areas, boardwalks, and enhanced biodiversity along the River Avon 
    • Plans for additional phases are in place and will progress as funding becomes available 

    Updates to this page

    Published 30 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Press Release – Compassionate Message Regarding Humanitarian Crises Wednesday 30 July 2025

    Source: Channel Islands – States of Alderney

    Media Release

    30 July 2025

    Compassionate Message Regarding Humanitarian Crises

    The States of Alderney endorse the compassionate message from the government of Guernsey in highlighting the humanitarian situation in Gaza alongside the numerous other humanitarian crises in the world, and the commitment to upholding the principles of International Law.

    Ends

    Please contact Gill Trousdale in the President’s Office by email president.alderney@gov.gg or telephone 01481 820001.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: City of York Council Welcomes Over £1 Million to Tackle Economic Inactivity

    Source: City of York

    The Get Britain Working Trailblazer programme is aimed at reducing economic inactivity and supporting residents into good jobs, volunteering, and training opportunities.

    The funding, totalling £1,038,250, comes from the York and North Yorkshire Combined Authority (YNYCA) and will support a wide range of local projects targeting groups most affected by long-term unemployment, including young people, disabled residents, unpaid carers, and veterans.

    Peter Roderick, Director of Public Health at City of York Council, said:

    “This funding is a real opportunity to make a difference in the lives of York residents who face barriers to employment due to health or personal circumstances. We’re proud to be delivering a programme that puts people first—offering tailored support, improving wellbeing, and helping individuals find meaningful work. It’s about building a healthier, more inclusive city.”

    Cllr Pete Kilbane, Deputy Leader and Executive Member for Economy & Culture, added:

    “This investment aligns perfectly with our Economic Strategy and our ambition to create good jobs and a thriving local economy. By working with partners across the city, we’re scaling up what works and piloting new, innovative approaches. It’s a bold step forward in unlocking York’s hidden talent and ensuring no one is left behind.”

    The funding will support 15 York-specific schemes, including mental health hubs, youth mentoring, workplace health checks, and employer engagement initiatives. It also complements wider regional programmes such as wage subsidies and primary care interventions.

    The Council has committed to delivering all projects within the 2025/26 financial year, with a focus on collaboration, innovation, and measurable impact. A report detailing the funding will go to a joint councillor decision session on 5 August

    ENDS

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Cultural programme announced for Japan Week in Manchester this September

    Source: City of Manchester

    The programme has been announced for a fantastic free cultural festival this September that will see a six-day Japanese culture takeover of Manchester as part of Japan Week 2025.

    The festival is being held in Manchester from 4 – 9 September after the city was chosen by the International Friendship Foundation as host city for the prestigious annual Japan Week event, that takes place each year in a different world city. 
    First held in Florence and after that in other major cities around the globe including Seville, Boston, and Athens, this year’s festival in Manchester promises to be extra special as 2025 marks the 50th anniversary of the event that first took place in 1975.

    The annual festival showcases traditional and contemporary Japanese culture through arts, music, fashion and sports, and will see a whole host of activities taking place at venues right across the city – all of them free to attend on a first come, first served basis, although some activities will require free-of-charge tickets to be booked in advance.

    Through a diverse range of events, workshops, exhibitions and interactive experiences, hosted at iconic venues across the city, the festival promises a glimpse into the beauty and uniqueness of Japanese arts, traditions and more.

    From traditional tea ceremonies and calligraphy, to music, arts and grass roots cultural exchange, there will be something for people of all ages to enjoy and appreciate.

    The programme includes theatre and stage performances at HOME, traditional tea ceremonies at Manchester Museum, workshops, exhibitions and demonstrations at Aviva Studios and Manchester Central Library, plus a full day of activity with the Hallé showcasing the Hallé Youth Orchestra, Japan Archives, and Japanese instruments.

    The week also includes the first UK performance of BLOOM – a brand-new production that fuses music, fashion and dance in a unique celebration of Greater Manchester’s contemporary creative scene.  It has been created by composer and DJ Afrodeutsche, dance company Company Chameleon, and queer-led fashion brand Belladonis.  The live performance will also feature a string ensemble from the world-renowned Hallé orchestra, including virtuosa violinist Roberto Ruisi.

    Centred on the theme of metamorphosis and change, BLOOM was created as a unique gift from Greater Manchester to Japan, marking a landmark year of cultural exchange between the two regions – with its debut performance taking place at EXPO Osaka back in June, ahead of performances in Manchester during Japan Week.

    Away from central Manchester local community venues in the north and south of the city will also be hosting Japan Week activity with plans currently being finalised for activity to take place at Gorton Hub, Wythenshawe Forum, and Abraham Moss Library and Leisure Centre.

    Mr Hiroyuki Ishizaki of the International Friendship Federation, Japan said: “It is a great pleasure to bring artists and performers from across Japan to the wonderful city of Manchester for an extra special programme celebrating the 50th anniversary.” 

    Manchester and the wider city region has a longstanding relationship with Japan, dating back to the 1800s and the industrial revolution, with Japan Week 2025 set to showcase this 200-year history and friendship.

    The city’s bid to host Japan Week came off the back of a successful Greater Manchester trade mission to Osaka and Tokyo in December 2023, led by GMCA Mayor Andy Burnham and Leader of Manchester City Council, Bev Craig.

    The city region’s relationship with Japan has continued to go from strength to strength since then, with a further delegation from Greater Manchester having recently undertaken a follow-up trade mission with partners in Tokyo and Osaka.

    Councillor Bev Craig, Leader of Manchester City Council, said: “Manchester and Japan have historic links, going all the way back to the 1800s, when Japanese students came to Greater Manchester to take home the lessons of industry and our connections have been forged ever since. As a proudly international city, our city has always been shaped by people and businesses who have chosen Manchester to live, to work and to invest in.

    “Culture has an important part to play in this, helping forge a mutual understanding between cities and countries that in turn helps create the right foundations for joint working and for successfully doing business with each other.

    “It is particularly special that Manchester has been chosen to host the landmark 50th celebration of International Japan Week.  

    “The programme of free cultural activity for September will allow people from across the city come and experience these unique events and gain insights into Japanese culture for the week. We are looking forward to hosting an important delegation of Japanese dignitaries, businesses and cultural institutions in our city.”

    The festival is being delivered in partnership with HOME, Aviva Studios, Manchester Central Library, First Street, and Manchester Museum, with activities also taking place at Hallé St Peter’s and esea contemporary in the Northern Quarter.

    Partner quotes:

    Karen O’Neil, CEO of HOME, said: “HOME is honoured to be part of welcoming so many amazing artists from Japan to Manchester for what we are sure will be an exciting week of events and shared experiences. Japan Week clearly shows Manchester’s commitment to being an international city with a thriving cultural sector.”

    John McGrath, Artistic Director and Chief Executive of Factory International, said: “It’s a pleasure to be part of Japan Week as the annual celebration of culture comes to Manchester. Having welcomed the great Japanese artist Yayoi Kusama as the very first person to exhibit in Factory International’s new home at Aviva Studios with You, Me and the Balloons in 2023, we look forward to welcoming more great artists from Japan to the city this September and building cultural ties alongside our partners. Visitors to Aviva Studios will have the opportunity to experience exhibitions, food and drink samplings and workshops showcasing Japanese art, innovation, and tradition.”

    Ciaron Wilkinson, Head of External Relations at Manchester Museum said: “Manchester Museum has a long history of celebrating Japanese cultural heritage so we’re excited to continue building on that tradition and the cherished relationships that come with it. Our own mission is to build understanding between cultures and Japan Week has incredible potential to do just that.”

    Thomas Ingham, Director of Place and Marketing, First Street and Ask Real Estate, said: “First Street and Ask Real Estate have a strong track record of supporting and enabling cultural activations in Manchester. And as First Street marks its 10th birthday this year, we look forward to welcoming guests from all around the world for the 50th anniversary of Japan Week.” 

    David Butcher, Chief Executive, The Hallé, said: “Japan Week is such an exciting opportunity to explore and enjoy cultural exchange in Manchester, and the Hallé is thrilled to be joining partners to deliver something special for the city. As Manchester’s cultural ambassador, international engagement is deeply rooted in our work, and we are looking forward to sharing the results of our most recent collaboration, BLOOM, which premiered at EXPO 2025 in Osaka, marking a new city partnership between Manchester and Osaka. Alongside this performance and much more at Hallé St Peter’s in Ancoats, audiences are in for a treat with such an incredible range of events across the city and we look forward to joining in the celebrations.”

    Xiaowen Zhu, Director of esea contemporary, said: ” ‘From Tokyo to Manchester: Weekend Festival’ reflects our commitment to fostering meaningful cultural dialogue across geographies. As a proud venue partner for the 50th anniversary of Japan Week—supported by Manchester City Council—we are honoured to contribute to this landmark citywide celebration. Through boundary-pushing music, experimental moving image, and shared creative experience, the festival captures the vitality of Japan’s contemporary arts and culture while resonating with Manchester’s spirit of openness, innovation, and inclusivity. It is a joyful invitation to connect—across disciplines, communities, and generations.” 

    Japan Week in Manchester is proudly sponsored by Calbee, Mizkan, Manchester Airport, KAJI, and First Street and Ask Real Estate who have together made the exciting free programme of cultural events possible. 

    Find out more information about what’s on during Japan Week in Manchester and get tickets  

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: More transport choices are coming to Mackworth

    Source: City of Derby

    Derby’s final mobility hub is underway, bringing more transport choices to residents in Mackworth.

    Building on the success of similar schemes elsewhere in the city, the new mobility hub will be installed at the Prince Charles Avenue shopping precinct, giving residents and local businesses greater choice when deciding how they travel around their local community.

    Mobility hubs provide greater opportunities to use sustainable and active travel methods – such as walking and cycling – making it easier to access local amenities. It is hoped that they will also draw more people into the area and enhance the local economy.

    Work on site to install the Prince Charles Avenue mobility hub is expected to be completed later this summer and will include:

    • Electric vehicle (EV) charging and dedicated parking for up to three EVs
    • An Enterprise Car Club location (subject to expected demand)
    • An accessible seating area with bike storage, designed in consultation with local businesses, ward councillors and the Police
    • Interactive information totem with live travel updates

    Councillor Carmel Swan, Cabinet Member for Climate Change, Transport and Sustainability said:

    This mobility hub will be the final piece of the jigsaw in delivering enhanced, sustainable transport choices to our communities. 

    A welcome addition to our ever-growing transport network, the Mackworth mobility hub will support our work to combat climate change through reduced pollution and congestion in Derby.

    The Mackworth mobility hub will add to the network of hubs already completed or in construction in Six Streets, Chaddesden, Allenton and Normanton/Arboretum. As well as providing alternative transport choices, the hubs help the Council to learn more about the community’s travel needs and preferences, helping to shape future schemes. 

    Mobility hubs are funded by the Department for Transport (DFT)’s Future Transport Zones Fund, which was awarded to Derby City Council to trial new and exciting developments in transport.

    Residents who would like to know more about the mobility hubs can get in touch with the Future Transport Zones team by emailing traffic.management@derby.gov.uk.
    Ends. 

    MIL OSI United Kingdom –

  • MIL-OSI Security: Man who threatened to stab father in rap video sentenced to jail

    Source: United Kingdom London Metropolitan Police

    A man has been sentenced to jail for murdering a father in front of his young child in a barbershop in Leyton.

    Josh McKay, 33, was stabbed in the neck by Renai Belle in a targeted attack and died from his injuries at the scene. During the Metropolitan Police investigation, officers discovered a rap video showing Belle threaten Josh before the attack.

    Belle, 30 (20.02.95), of Swaythling Close, Edmonton was sentenced to 26 years and 12 months in prison on Wednesday, 30 July at the Old Bailey. He was previously convicted for Josh’s murder and possession of a knife on Wednesday, 4 June.

    A man and woman were also convicted and sentenced for separate offences.

    Josh’s mother, Bash Kehinde said: “Today’s sentencing changes nothing for me and my family. I will never see my beautiful son. And his two children will now face life without their hero.

    “To all of the mothers of murdered children, I understand your pain, the sadness and sense of loss that is unbearable. It is made worse because it was all so senseless.

    “Josh was a beautiful happy kind man and an active and loving father. The world is less kind, less bright and less funny without him here.”

    Detective Inspector Chris Griffith, from Specialist Crime North, who led the investigation, said: “This was a savage and pre-planned attack, committed in broad daylight and with scant regard for passers-by. What took place left the local community reeling, and two young children without their father.

    “My heart goes out to Josh’s family and friends. He was a loving parent, whose life was ended in the most horrendous way.

    “I hope that today’s result provides Josh’s family with some closure, and allows the community to feel safer knowing that Belle is no longer free to commit such heinous crimes.”

    The court heard that Josh was at a barbershop on Lea Bridge Road with his son on Saturday, 6 July. Around 15:00hrs, as shown on CCTV seized by the investigation team, Belle entered the shop wearing a balaclava where he stabbed Josh in the neck in a pre-meditated attack following a long-standing dispute. Belle was then chased away by Josh.

    Members of the public rushed to Josh’s aid and attempted to provide medical treatment until the arrival of officers and paramedics. Despite their best efforts, Josh died from his injuries.

    A determined investigation began immediately in which officers painstakingly combed through more than 100 hours of CCTV footage to track Belle’s movements and understand what took place.

    Officers discovered that Belle was the passenger in a car being driven by his partner, Tenika Parker. Having seen Josh enter the barbershop, the pair drove to the address of man called Daniel Cooper. In doorbell footage later seized, Cooper was seen providing Belle with the balaclava and knife that would be used minutes later to murder Josh. Belle was then driven back to the barbers nearby before stabbing Josh. He was helped to escape by Parker in the waiting car.

    A manhunt led to the arrest of Belle at an address in Pincott Road, SW19 on Monday 8 July, 2024.

    As part of officers’ determination to further establish a watertight case against Belle, further enquiries led them to discover a rap video on YouTube showing Belle threaten Josh in advance of the attack, more proof that it was pre-planned.

    Parker was initially arrested on suspicion of assisting an offender on Sunday, 7 July in India Dock Road, Poplar. She was stopped by police while driving the car that had been identified as involved in the murder. During a search of Parker’s vehicle, officers found distinct black sliders Belle was seen wearing in CCTV footage, as well as traces of blood that officers sent for forensic testing. This provided a DNA match to Josh. Parker was rearrested on Wednesday, 2 October, and charged with perverting the course of justice after CCTV footage showed her attempting to clean her car after the attack to remove any evidence.

    Cooper was arrested after handing himself in to police on Thursday, 11 July. During a search at Cooper’s property, officers discovered two knives matching the branding of the weapon that was left at the scene of Josh’s murder. Forensic testing on the balaclava and knife discarded by Belle at the scene of Josh’s murder found DNA that matched with Cooper.

    On Wednesday, 4 June, Tenika Parker, 39 (21.02.86), of Canterbury Road, Leytonstone and Daniel Cooper, 22 (20.02.03) of Gosport Road, Leytonstone stood trial alongside Belle.

    Parker was convicted of possession of a knife and perverting the course of justice. On Wednesday, 30 July, she was sentenced at the Old Bailey to 2 years and 3 months years in prison.

    Cooper had previously pleaded guilty to possession of a knife but was acquitted of other offences. He was sentenced on Friday, 6 June for 7.5 months. He has since been released due to time already served.

    MIL Security OSI –

  • MIL-OSI: WENDEL: 2025 Half-Year Results

    Source: GlobeNewswire (MIL-OSI)

    2025 Half-Year Results:

    Continued strategic deployment with the

    Asset Management Platform ramp up:

    Wendel Group now manages €45 billion+,
    of which €39 billion of Private Assets under Management
    for third parties

    NAV per share at €167.7 as of June 30, 2025

    Implementation of a semi-annual interim dividend starting in November 2025, with an interim dividend of €1.50

    Taking into account the dividend payment of €4.7, the fully diluted net asset value1per share as of June 30, 2025 is down 2.4% compared to the end of March 2025, and stable at constant exchange rates.

    The strengthening of euro vs US dollar, generated a -€4.7 per share FX effect in Q2. At constant exchange rate, NAV main components evolved as follows:

    • Principal Investments:
      • Listed assets (38% of Gross Asset Value excluding cash): +5.0% vs Q1 2025 thanks to Bureau Veritas, IHS and Tarkett share prices increase
      • Unlisted assets (38% of GAV excl. cash): total value down 4.8% vs Q1 2025, reflecting mainly multiples and aggregates evolution
    • Asset Management activities (22% of GAV excl. cash): total valuation up +9.0% vs Q1 2025, induced by multiples and aggregates evolution

    Principal investments: H1 2025 performance supported by listed companies

    • Positive contribution from the Group’s listed companies, driven by higher share prices over the period
    • Total sales of Group companies up 3.9% organically
    • New CEOs at Crisis Prevention Institute and Scalian

    Asset management: strong momentum in fundraising and revenue growth

    • Wendel Asset Management platform AuM reach close to €39 billion, focused on midmarket. Altogether IK Partners and Monroe Capital have raised c.€4.3 billion of new funds on various strategies over H1 2025, without any sponsor money from Wendel in H1. IK Partners reached its hard caps on its Midcap and Small Cap funds in the first half of 2025, and Monroe Capital raised $4 billion.
    • Management fees totalled €152 million and Fee Related Earnings totalled €59 million, growing more than threefold vs last year, thanks to organic growth and strong scope effects

    Dynamic implementation of new strategic directions

    • Principal Investments: successful Forward Sale of 6.7% of Bureau Veritas’ share capital, at a price of €27.25 per share on March 12, 2025
      • Wendel entered into a call spread transaction to benefit from up to c.15% of the stock price appreciation over the next three years on the equivalent number of shares underlying the Forward Sale Transaction
      • Total net proceeds for Wendel of €750 million
      • Wendel has retained 26.5% of the share capital and 41.2% of the voting rights of Bureau Veritas
    • Asset Management: With Monroe Capital acquisition, Wendel’s third party asset management platform reached €39 billion in AUM2
      • On March 31, 2025, Wendel has invested $1.133 billion to acquire 72% of Monroe Capital’s shares together with rights to c.20% of the carried interest generated on past and future funds

    A more attractive dividend policy for shareholders: introduction of semi-annual interim dividend payments starting in 2025

    • Ordinary dividend of €4.70 per share for 2024, up 17.5% compared to 2023, paid in May 2025, representing a distribution to shareholders of €200 million
    • €1.50 interim dividend to be paid in November 2025
      • In order to reflect the recurring cash flow generated by its dual business model, Wendel has decided to pay an interim dividend of €1.50 in November 2025 for the 2025 financial year corresponding to about one third of the total dividend paid for the previous financial year
      • The balance of the 2025 dividend, will be paid in May 2026, in line with Wendel dividend policy
      • This new interim dividend policy will be recurring

    Strong financial structure and committed to remaining Investment Grade

    • Average debt maturity of 3.1 years with an average cost of 2.4%
    • LTV ratio at 18.5%4 on a pro forma basis
    • On March 31, 2025, S&P revised Wendel outlook to ‘Stable’ from ‘Negative’ on debt reduction and reaffirmed its ‘BBB’ rating

    Consolidated net sales for H1 2025 €4,177.6 million, up +7.2% overall and up +3.9% organically year-to-date

    • Net income from operations, group share down 17.9% at €86.0 million
    • H1 2025 net income (Group share) at €4.3 million impacted by a negative scope effect due to the disposal of Constantia Flexibles (€419m capital gain, group share) in the first half of 2024, while the capital gain related to the forward sale of 6.7% of Bureau Veritas share capital in March 2025 is not accounted in the P&L
    Laurent Mignon, Wendel Group CEO, commented:

    “ With the successful closing of Monroe Capital’s acquisition, Wendel materializes its strategy to grow third-party asset management alongside our principal investment activity.

    With Monroe Capital and IK Partners representing €39 billion of assets under management and €4.3 billion raised in H1 2025, we are building a strong and significant Asset management player generating recurring and predictable income, enhancing significantly Wendel’s value creation profile. IK Partners has closed its Midcap and Small Cap strategies at their hardcaps, finalizing its 2024/2025 fundraising at €6 billion, in line with the ambition announced when it was acquired by Wendel in October 2023. We are actively building a diversified pipeline of high-quality acquisition opportunities to expand our third-party asset management business.

    We actively support the development of our permanent capital portfolio companies in navigating a persistently complex macroeconomic environment.

    Our teams remain fully mobilized to generate value through the current portfolio and further develop our asset management platform while maintaining a solid financial profile. Our strategic transformation has also gone hand in hand with a reinforced cash return to shareholders, reflected in the €4.7 dividend per share paid in May, growing 17.5% vs 2024. Given the stronger recurring and predictable cash flow generation of Wendel, we have decided to implement a semi-annual interim dividend payment policy starting in 2025. ”

    Wendel’s net asset value as of June 30, 2025: €167.7 per share on a fully diluted basis

    Wendel’s Net Asset Value (NAV) as of June 30, 2025, was prepared by Wendel to the best of its knowledge and on the basis of market data available at this date and in compliance with its methodology.

    Fully diluted Net Asset Value was €167.7 per share as of June 30, 2025 (see details in the table below), as compared to €176.7 on March 31, 2025, representing a decrease of -5.1% over the quarter and stable restated from the dividend paid in May 2025 and at constant exchange rate. Compared to the last 20-day average share price as of June 30, the discount to the fully diluted NAV per share was -48.4% as of June 30, 2025,.

    FX had a negative impact of -4.7€ per share over the second quarter due to the dollar evolution vs. euro.

    Bureau Veritas is slightly up over the quarter (+1.2% on a 20-day average). IHS Towers (+29.5%) and Tarkett (+3%) 20-day average share prices also contributed positively to the NAV. Total value creation per share of listed assets was therefore positive (+€3.5) at constant exchange rate on a fully diluted basis over the second quarter 2025.

    Unlisted asset contribution to NAV was negative over the second quarter with a total change per share of – €5.0 at a constant exchange rate reflecting selected assets operational performance and multiples evolution.

    Asset management activities contribution to NAV was positive, +€3.8 at a constant exchange rate, due to IK Partners and Monroe Capital blended multiples’ evolution and good FRE generation. A total of €49M of sponsor money is included in the NAV as of end of June, both for IK Partners and Monroe Capital.

    Cash operating costs, Net Financing Results and Other items impacted NAV by -€1.9 at constant exchange rate, as Wendel benefits from a positive carry and maintains a good cost control.

    Over the first half of the year, total Net Asset Value evolution per share amounted to -€13.2, restated from the €4.7 of dividend returned to shareholders in May 2025, i.e. -€6.2 at a constant exchange rate.

    Fully diluted NAV per share of €167.7 as of June 30, 2025

    (in millions of euros)     06/30/2025 03/31/2025
    Listed investments Number of shares Share price (1) 3,088 2,965
    Bureau Veritas 89.9m(2)/120.3m €29.2/€28.5 2,630 2,565
    IHS 63.0m/63.0m $5.7/$4.4 307 254
    Tarkett   €16.9/€16.4 151 146
    Investment in unlisted assets (3) 3,071 3,346
    Asset Management Activities (4) 1,824 1,778
    Asset Managers (IK Partners & Monroe Capital) 1,775 1,749
    Sponsor Money 49 29
    Other assets and liabilities of Wendel & holding companies (5) 150 161
    Net cash position & financial assets (6) 1,770 2,058
    Gross asset value     9,903 10,308
    Wendel bond debt & accrued interests     -2,373 -2,378
    IK Partners transaction deferred payment and Monroe Capital earnout -235 -244
    Net Asset Value     7,295 7,686
    Of which net debt     -838 -564
    Number of shares     44,461,997 44,461,997
    Net Asset Value per share €164.1 €172.9
    Wendel’s 20 days share price average   €86.6 €92.0
    Premium (discount) on NAV -47.2% -46.8%
    Number of shares – fully diluted 42,457,994 42,456,176
    Fully diluted Net Asset Value, per share €167.7 €176.7
    Premium (discount) on fully diluted NAV -48.4% -47.9%

    (1)  Last 20 trading days average as of June 30, 2025, and March 31, 2025.
    (2)  Number of shares adjusted from the Forward Sale Transaction of 30,357,140 shares of Bureau Veritas. The value of the call spread transaction to benefit from up to c.15% of the stock price appreciation on the equivalent number of shares is taken into account in Other assets & liabilities of Wendel & holding companies.
    (3)  Investments in unlisted companies (Stahl, Crisis Prevention Institute, ACAMS, Scalian, Globeducate, Wendel Growth). Aggregates retained for the calculation exclude the impact of IFRS16.
    (4)  Investments in IK Partners and Monroe Capital (excl. Cash to be distributed to shareholders). Valued as a platform based on Net Income / Distributable earnings multiples.
    (5)  Of which 2,004,003 treasury shares as of June 30, 2025, and 2,005,821 as of March 31, 2025.
    (6)  Cash position and short-term financial assets of Wendel & holdings.
    Assets and liabilities denominated in currencies other than the euro have been converted at exchange rates prevailing on the date of the NAV calculation.
    If co-investment and managements LTIP conditions are realized, subsequent dilutive effects on Wendel’s economic ownership are accounted for in NAV calculations. See page 285 of the 2024 Registration Document.

    Wendel’s Principal Investments’ portfolio rotation

    On March 12, 2025, Wendel realized a successful placement of Bureau Veritas shares as part of a prepaid 3-year forward sale representing approximately 6.7% of Bureau Veritas share capital and increased its financial flexibility by reducing the pro forma loan-to-value ratio to approximately 17%. The transaction immediately generated net cash proceeds of approximately €750M to Wendel.

    Wendel invested €41.5M in Scalian in H1 2025 to support its external growth and to strengthen its balance sheet.

    Wendel’s Asset Management platform evolution

    Acquisition of a controlling stake in Monroe Capital LLC closed, a transformational transaction in line with the strategic roadmap

    Wendel completed on March 31, 2025 the definitive partnership agreement including the acquisition, together with AXA IM Prime, of 75% of Monroe Capital LLC (“Monroe Capital” or “the Company”), and a sponsoring program of $800 million to accelerate Monroe Capital’s growth, together with an investment of up to $200 million in GP commitment.

    With IK Partners and Monroe Capital, Wendel’s third party asset management platform reached €39 billion in AUM5, and should generate, on a full-year basis, c.€ 455 million revenues6, c.€160 million pre-tax FRE (c.€100 million in pre-tax FRE (Wendel share) in 2025. Wendel’s ambition is to reach €150 million (Wendel share) in pre-tax FRE in 2027.

    Third-Party Asset Management Platform: 22% of Gross Asset Value excluding cash

    Over the first half of 2025, the Wendel Asset Management platform (IK Partners and Monroe Capital), focused on the midmarket private markets, registered particularly strong levels of activity, generating a total of €152.0 million in Management fees and others, up 355 % vs. H1 2024, thanks to good organic growth and strong scope effects: Only IK Partners was consolidated over 2 months in H1 2024, to be compared in H1 2025 with a 6 months consolidation for IK and 3 months consolidation for Monroe Capital in H1 2025.

    As a consequence, the consolidated Fee Related Earnings of the platform amounted to €59.9 million in H1 2025, up 318% vs last year, and Profit Before Tax was €60.2 million, up 303% vs. last year.

    The Wendel Asset Management Platform has known a Strong Momentum in terms of fund raising with €4.3 billion raised over the semester, without any sponsor money committed by Wendel.

    IK Partners has closed its Midcap and its Small Cap strategy at the hard cap. This completes IK fund raising cycle (2024/2025) at €6 billion, in line with the announced target at acquisition in October 2023. Monroe Capital has also maintained its strong dynamic with $4 billion of asset raised in 6 months with a good diversification in terms of strategies and geographies.

    As of June 30, 2025 Wendel’s third-party asset management platform7 represented total assets under management of €39.1 billion (of which €10.1 billion of Dry Powder8), and FPAuM9 of €29.0 billion, FX adjusted, up +187% year-to-date. Over the period, €5.0 billion of new Fee Paying AuM were generated and about €3 billion of exits and payoffs have been realized.

    Sponsor money invested by Wendel

    Wendel committed in 2024 €434 million in IK Partners funds (of which €300 million in IK X). As of June 30, 2025, a value of €49 million of sponsor money have been called in IK Partners and Monroe Capital funds.

    Principal Investment companies’ sales

    Figures post IFRS 16 unless otherwise specified.

    Listed Assets: 38% of Gross Asset Value excluding cash

    Bureau Veritas: Robust organic revenue growth and strong margin increase in H1 2025 as the LEAP | 28 strategy execution accelerates; Confirmed 2025 outlook

    (full consolidation)

    Revenue in the first half of 2025 amounted to €3,192.5 million, a 5.7% increase compared to H1 2024. The organic increase was 6.7% compared to H1 2024 (including 6.2% in the second quarter of 2025) and a broad organic growth across most businesses and geographies.

    First half adjusted operating profit increased by 8.8% to €491.5 million. This represents an adjusted operating margin of 15.4%, up 44bps year-on-year and up 55bps at constant currency.

    As of June 30, 2025, adjusted net financial debt was €1,254.7 million and the adjusted net financial debt/EBITDA ratio was maintained at a low level of 1.11x (vs. 1.06x as of December 31, 2024).

    2025 share buyback program

    Bureau Veritas executed the €200 million share buyback program announced on April 24, 2025, thus

    acquiring c.1.5% of the outstanding share capital (6.7 million shares) through the market during the

    months of May and June 2025. The purchase was completed at an average price of €29.77 per share.

    2025 outlook confirmed

    Based on a robust first half performance, a solid backlog, and strong underlying market fundamentals, and in line with the LEAP | 28 financial ambitions, Bureau Veritas still expects to deliver for the full year 2025:

    • Mid-to-high single-digit organic revenue growth,
    • Improvement in adjusted operating margin at constant exchange rates,
    • Strong cash flow, with a cash conversion10 above 90%.

    For further details: group.bureauveritas.com

    IHS Towers – IHS Towers will report its H1 2025 results in August 2025

    Tarkett reported its H1 on July 29, 2025

    For more information: https://www.tarkett-group.com/en/investors/

    Unlisted Assets: 38% of Gross Asset Value excluding cash

    (in millions) Sales EBITDA Net debt
      H1 2024 H1 2025 H1 2024 including IFRS 16 H1 2025 including IFRS 16 Δ end of June including IFRS 16
    Stahl €464.7 €462.9 €106.7 €90.8 -14.9% €357.8
    CPI $66.9 $69.5 $28.4 $29.9 +5.3% $370.8
    ACAMS $48.7 $53.4 $8.9 $13.7 +53.9% $161.2
    Scalian €271.8 €257.6 €30.3 €28.9 -4.6% €354.8
    Globeducate(1) €202.6 €224.7 na €77.7 na €739.6

    (1)   Globeducate acquisition was completed on October 16th, 2024. Globeducate fiscal year ends in August, and figures shown are last six months at the end of May 2025. Indian operations are deconsolidated and accounted for by the equity method.

    Stahl – Total sales slightly down -0.4% in H1 2025 in a context of challenging market conditions in the automotive and luxury goods end-markets. Strong EBITDA margin of 19.6%.

    (Full consolidation) 

    Stahl, the world leader in specialty coatings for flexible materials, posted total sales of €462.9 million in the first half of 2025, representing a total decrease of -0.4% versus H1 2024.

    Organically, sales were down -5.9%, in a context of lower demand across end-markets due to very high levels of uncertainty around changing tariffs and destocking in the supply chains served by Stahl, while FX contributed -2.0%. Acquisitions contributed positively (+7.6%) to total sales variation, thanks to the acquisition of Weilburger Graphics GmbH completed in September 2024.

    Half Year 2025 EBITDA11 amounted to €90.8 million (-14.9% vs. H1 2024), translating into a strong EBITDA margin of 19.6%, thanks to a disciplined margin and fixed costs management, as well as a good diversification across geographies and segments.

    Net debt as of June 30th, 2025, was €357.8 million12, versus €383.8 million at the end of 2024 and leverage stood at 1.9x13.

    Crisis Prevention Institute reports +4.0% in revenue and +5.3% EBITDA growth. Andee Harris will become the new CEO of CPI on August 20, 2025.

    (full consolidation)

    Crisis Prevention Institute recorded first half 2025 revenue of $69.5 million, up +4% compared to H1 2024. Of this increase, +3.2% was organic growth, -0.2% came from FX movements and +1.1% from scope effect related to the Verge acquisition in Norway in January 2025. Despite ongoing federal oversight and funding uncertainty for some of CPI’s US customers that may have led to deferred spending on expanded training, CPI’s installed base of certified instructors continued to renew and maintain their certification and train their colleagues. Growth in the first half therefore increased revenues from renewals and learning materials in North America, as well as double digit growth in markets outside North America.

    H1 2025 EBITDA was $29.9 million14, reflecting a margin of 43.0%. EBITDA was up +5.3% vs. H1 2024 while margins are slightly up due to tight cost policy and in spite of lower-than-expected top line growth.

    As of June 30, 2025, net debt totaled $370.8 million15, or 4.7x EBITDA as defined in CPI’s credit agreement. In early July, CPI raised $60 million through an incremental term loan to fund c. $33 million dividend payment to Wendel by year end and a partial repurchase of management’s shares. Both the dividend and the share repurchases are expected to occur in September.

    On August 20, 2025, Andee Harris will become CEO of CPI and a member of the company’s board of directors.

    Andee Harris will take over from Tony Jace, CPI’s current CEO, who is retiring after leading CPI’s significant expansion over the past 16 years. Tony will remain on CPI’s Board of Directors through the end of 2025.

    Andee Harris was the CEO of Challenger, a global leader in training, technology and consulting. Harris will bring more than two decades of experience in growing and scaling service and technology businesses. She has previously led multiple companies, both as CEO and Senior Vice President, through periods of rapid revenue growth, digital transformation, critical fundraising and successful acquisition.

    ACAMS – Total sales up +9.6% in H1, reflecting double-digit growth in the core Americas and APAC segments, generating very strong EBITDA growth.
    (full consolidation)  

    ACAMS, the global leader in training and certifications for anti-money laundering and financial-crime prevention professionals, generated total revenue of $53.4 million, up +9.6% compared to the first half of 2024. First-half results were driven by double-digit growth in Americas and APAC segments, with both bank and non-bank customers, as well as improved conference sponsorship & exhibition sales. 

    H1 growth reflects momentum from recent strategic and organizational changes including the senior leadership additions in 2024, a shift in focus to selling solutions for large enterprise customers, market expansion with the introduction of the Certified Anti-Fraud Specialist certification (CAFS), and investments in the technology platform.

    EBITDA16 for the first half was c.$13.7 million, up 53.9% vs. H1 2024 and reflecting a 25.7% margin, up 740 bps year-over-year. The strong increase in first half profitability largely reflects the aforementioned revenue growth as well as strong cost control by the Company’s management.

    As of June 30, 2025, net debt totaled $161.2 million17, down from $165.0 million at the end of 2024, which represents 4.8x EBITDA as defined in ACAMS’ credit agreement, with ample room relative to the 9.5x covenant level.

    ACAMS anticipates continued mid-to-high single digit growth in revenues for 2025. To support its long-term development, which is expected to produce accelerated levels of growth and profitability over the next several years, additional investments and hirings will be made in H2 2025, leading to more normalized c.25% margin for the full year.

    Scalian – Total sales down 5.2% in first-half 2025, reflecting persistently tough market conditions for engineering services and digital services companies. Equity contributions by Wendel since the beginning of the year totalling €41.5 million to support Scalian’s acquisition-led growth and strengthen its balance sheet.

    Changes in governance with the appointment of a new Chief Executive Officer.

    Scalian, a leader in digital transformation and operational performance consulting, reported total sales of €257.6 million as of June 30, 2025, down 5.2% year on year. The downturn in sales continues to take hold in several sectors and geographies, particularly in France and in automotive in Germany. Sales were down 11.1% on a like-for-like basis (including a negative currency impact), and benefited from a positive scope effect of 5.9% driven by acquisitions that were accretive in terms of growth and margins.

    Other European countries and North America reported further robust growth, buoyed by the acquisition of Mannarino, which made a significant contribution to half-year earnings thanks to strong business momentum.

    Scalian generated €28.9 million in EBITDA18 over first-half 2025. The EBITDA margin stood at 11.2% of sales, in line with the level recorded for full-year 2024, reflecting a tight rein on costs. As of June 30, 2025, net debt19 stood at €354.8 million (leverage of 6.7x20 EBITDA).

    Over the past 24 months, Scalian has undertaken bold transformation initiatives, which are being accelerated in 2025 in response to the worsening market environment:

    • Creation of a team focusing on key strategic clients and sectors with high growth potential
    • Expansion of the bestshoring platform
    • Launch of the “One Motion” plan, a transformation designed to improve the efficiency of the Scalian business model in three areas (sales and staffing, automation for productivity, and finance and operations)
    • Dynamic management of utilization rates
    • Accelerated integration of acquisitions and generation of related synergies
    • Targeted indirect cost reduction actions
    • More disciplined management of working capital

    These initiatives, aimed at strengthening Scalian’s business model and attractiveness, have already had a positive impact, and have led to significant commercial successes in recent months, including major agreements in the aerospace and defense sectors.

    Since the beginning of the year, Wendel has injected an additional €41.5 million in equity to support Scalian’s acquisition-led growth and strengthen its balance sheet.

    Wendel is also announcing today a major change in Scalian’s governance, with the appointment of a new Chief Executive Officer effective October 1 at the latest, the date on which Yvan Chabanne will step down following a decade of intensive development. The aim is to launch Scalian into the next cycle of growth and transformation with a new Chief Executive Officer, who has already been identified, also a highly experienced executive from the engineering industry, whose name will be announced shortly.

    David Darmon, Chairman of Scalian’s Supervisory Board:

    “On behalf of the Wendel Group, I would like to extend my warmest thanks to Yvan Chabanne for his remarkable achievements and unfailing commitment at the helm of Scalian, the brand he founded. Under his leadership, the Group has undergone an exceptional transformation: it has expanded strongly on an international level, become a leader in engineering, digital transformation and operational performance consulting, strengthened its positions with major customers and multiplied its sales almost ten-fold – half of which through a dozen acquisitions. Today, consolidated sales stand at around €530 million.

    We are delighted to welcome on board a new Chief Executive Officer whose international background, in-depth knowledge of our businesses and unifying leadership skills will be key assets in supporting the Group’s development going forward. We look forward to working alongside the future Chief Executive Officer on an ambitious value creation plan, which will unleash the full potential of this magnificent company, driven by the expertise, dedication and talent of its teams.” 

    Globeducate – Total sales up +10.9%21over 6-month period ending May 31, 2025. Annualized EBITDA margin c.25%22in line with expectations.

    (Accounted for by the equity method. Globeducate acquisition was completed on October 16th, 2024. Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures. 6-month revenue and EBITDA from December 1, 2024 to May 31, 2025).

    Globeducate, one of the world’s leading bilingual K-12 education groups, posted total sales of €224.7 million1 for the 6-month period ending May 31, 2025, representing a total increase of +10.9% over last year. Of this increase, +3.3% came from accretive M&A transactions.

    EBITDA2 for the same period stood at €77.7 million. EBITDA is always particularly high at this time of year driven by the seasonality of the business (revenues are recognized over the academic year while costs are spread out across the entire fiscal year) and will smooth out over the next quarter. EBITDA was in line with expectations and ensures an annualized EBITDA margin at c.25%. This solid financial performance was fueled by a combination of organic and external growth as well as strict cost control.

    Since the beginning of Globeducate’s fiscal year (September 1, 2024 – August 31, 2025), the Group has completed 3 acquisitions: Olympion School and the International School of Paphos in Cyprus, and l’Ecole des Petits in the UK.

    Net debt as of May 31, 2025, was €739.6 million23 and leverage stood at 6.3x4.

    Consolidated Accounts

    The Supervisory Board met on July 30, 2025, under the chairmanship of Nicolas ver Hulst, to review Wendel’s condensed consolidated financial statements, as approved by the Executive Board on July 25, 2025. The interim financial statements were subject to a limited review by the Statutory Auditors prior to publication.

    Wendel Group’s consolidated net sales totaled €4,177.6 million, up +7.2% overall and up +3.9% organically. FX contribution is -2.1% and scope effect is +5.4%.

    The net income from operations of Group companies, Group share amounted to €86.0 million, down -17.9%.

    Financial expenses, operating expenses and taxes recorded by Wendel represented €46.0 million, up €13.2 million from the €32.9 million reported in H1 2024, mainly due to lower returns from cash. Operating expenses were down 15.6% due to good cost control.

    H1 2025 net income Group share €4.3 million vs. €388.2 million in the first half of 2024, reflecting a €418.6 million capital gain group share from the disposal of Constantia Flexibles in H1 2024. In H1 2025, The impact (group share) of impairment on investments was limited over the period, as the reversal of the impairment on Tarkett Participation was offset by the impairment recognized on Scalian, as a result of the slowdown in its markets. The gain on the forward sale of Bureau Veritas in 2025 and the positive change in the fair value of IHS are not recognized in the income statement but in shareholder equity.

    Estimated impact of new tariffs on Wendel’s businesses 

    Wendel Group’s companies are mainly business services, and are therefore only slightly directly impacted by conflicts over tariffs. For industrial companies (Stahl and Tarkett), these two companies have production units generally located in the countries in which they generate their revenues. According to the information available, the direct impact for these two companies is limited. The lack of visibility on the evolution of tariffs, as well as their real impact on global economic growth and USD exchange rates, constitute the main risk on the value creation potential of our assets. In the second quarter of 2025, the main indirect impact of trade tariffs was on the euro-dollar exchange rate, which impacted the valuation of some of our assets, mainly US companies or listed in the US. The impacts of trade tariffs specific to each company are described in the relevant sections of this press release.

    Agenda

    Thursday, October 23, 2025

    Q3 2025 Trading update – Publication of NAV as of September 30, 2025 (post-market release)

    Friday, December 12, 2025,

    2025 Investor Day.

    Wednesday, February 25, 2026

    Full-Year 2025 Results – Publication of NAV as of December 31, 2025, and Full-Year consolidated financial statements (post-market release)

    Wednesday, April 22, 2026

    Q1 2026 Trading update – Publication of NAV as of March 31, 2026 (post-market release)

    Thursday, May 21, 2026

    Annual General Meeting

    Wednesday, July 29, 2026

    H1 2026 results – Publication of NAV as of June 30, 2026, and condensed Half-Year consolidated financial statements (post-market release)

    About Wendel

    Wendel is one of Europe’s leading listed investment firms. Regarding its principal investment strategy, the Group invests in companies which are leaders in their field, such as ACAMS, Bureau Veritas, Crisis Prevention Institute, Globeducate, IHS Towers, Scalian, Stahl and Tarkett. In 2023, Wendel initiated a strategic shift into third-party asset management of private assets, alongside its historical principal investment activities. In May 2024, Wendel completed the acquisition of a 51% stake in IK Partners, a major step in the deployment of its strategic expansion in third-party private asset management and also completed in March 2025 the acquisition of 72% of Monroe Capital. As of June 30, 2025, Wendel manages 39 billion euros on behalf of third-party investors, and c.6.2 billion euros invested in its principal investments activity.

    Wendel is listed on Eurolist by Euronext Paris.

    Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 

    Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la Culture” in 2012.For more information: wendelgroup.com

    Follow us on LinkedIn @Wendel 

    Appendix 1: H1 2025 Consolidated sales and results

    H1 2025 consolidated net sales

    (in millions of euros) H1 2024 H1 2025 Δ Organic Δ
    Bureau Veritas 3,021.7 3,192.5 +5.7% +6.7%
    Stahl 464.7 462.9 -0.4% -5.9%
    Scalian (1) 271.8 257.6 -5.2% -11.1%
    CPI 61.9 63.7 +3.0% +3.2%
    ACAMS 44.5 48.8 +9.6% +9.8%
    IK Partners (2) 33.4 91.2 n.a. n.a.
    Monroe Capital (3) n.a. 60.8 n.a. n.a.
    Consolidated sales 3,897.9 4,177.6 +7.2% +3.9%

    (1) Scalian, which had a different reporting date to Wendel (refer to 2023 consolidated financial statements – Note 2 – 1.” Changes in scope of consolidation in 2023″), realigns its closing date with Wendel group. Consequently, sale’s contribution corresponds to 6 months’ sales between January 1st 2025 and June 30 2025. The contribution published last year (€278.2M) corresponded to 6 months’ sales between October 1st 2024 and March 31st 2025.

    (2) Acquisition d’IK Partners in May 2024. Contribution of sales for 2 months in 2024 versus 6 months in 2025.

    (3) Contribution of 3 months’ sales from April 1st, 2025 to June 30, 2025. Including PRE.

    H1 2025 net sales of equity-accounted companies

    (in millions of euros) H1 2024 H1 2025 Δ Organic Δ
    Tarkett (4) 1,558.7 1,573.5 +0.9% -0.2%
    Globeducate (5) n.a. 224.7 n.a. n.a.

    (4) Selling price adjustments in the CIS countries are historically intended to offset currency movements and are therefore excluded from the “organic growth” indicator.

    (5) Contribution of 6 months of sales from December 1st, 2024 to May 31st, 2025 excluding India.

    H1 2025 consolidated results

    (in millions of euros) H1 2024 H1 2025
    Contribution from asset management 11.6 49.0
    Consolidated subsidiaries 364.6 353.8
    Financing, operating expenses and taxes -32.9 -46.0
    Net income from operations(1) 343.4 356.8
    Net income from operations, Group share 104.8 86.0
    Non-recurring income/loss 643.4 15.7
    Impact of goodwill allocation -50.4 -65.1
    Impairment -90.6 -39.4
    Total net income (2) 845.8 268.0
    Net income, Group share 388.2 4.3

    (1)        Net income before goodwill allocation entries and non-recurring items.

    (2)        IHS is accounted for as financial assets through OCI

    H1 2025 net income from operations

    (in millions of euros) H1 2024 H1 2025 Change
    IK Partners 11.6 30.3 +161.8%
    Monroe Capital n.a. 18.7 n.a.
    Total contribution from asset management 11.6 49.0 n.a.
    Total contribution from AM Group share 5.9 29.3 +153.2%
    Bureau Veritas 302.5 307.9 +1.8%
    Stahl 52.6 36.0 -31.6%
    Scalian 0.3 -6.5 n.a.
    CPI 4.8 6.0 +23.7%
    ACAMS -3.0 -1.3 n.a.
    Tarkett (equity accounted) 7.4 3.7 -50.4%
    Globeducate (equity accounted) n.a. 8.0 n.a;
    Total contribution from Group companies 364.6 353.8 -3.0%
    of which Group share 131.6 102.5 -22.1%
    Operating expenses net of management fees -38.2 -32.2 -15.6%
    Taxes -1.7 -2.1 +21.3%
    Financial expenses 19.0 -1.0 -105.3%
    Non-cash operating expenses -11.9 -10.5 -11.2%
    Net income from operations 343.4 356.8 +3.9%
    of which Group share 104.8 86.0 -17.9%

    Appendix 2: Conversion from accounting presentation to economic presentation

    Please refer to table 5.1 of the consolidated statements.

    Appendix 3: Glossary

    • AUM (Assets under Management): Corresponding – for a given fund – to total investors’ commitment (during the fund’s investment period) or total invested amount (post investment period)
    • FRE (Fee-Related Earnings): Earnings generated by recurring fee revenues (mainly management fees). It excludes earnings generated by more volatile performance-related revenues.
    • GP (General Partner): Entity in charge of the overall management, administration and investment of the funds. The GP is paid by management fees charged on assets under management (AuM)

    1 Fully diluted of share buybacks and treasury shares. Net Asset Value non fully diluted stands at €164.1.
    2 As of end of June 2025, AuM of IK Partners and Monroe Capital

    3 This amount includes usual closing adjustments

    4 Including sponsor money commitment in IK (-€434m partly called as of 06.30.2025) & expected commitments in Monroe Capital (-$200m partly called as of 06.30.2025), IK Partners transaction deferred payment (-€131m), Monroe Capital 100% acquisition (including estimated earnout and puts on residual capital, i.e -$527M), and pro forma of Bureau Veritas dividend payment in July (€80.9 million).

    5 As of end of June 2025

    6 Based on USD/EUR exchange rate of 1.08

    7 IK Partners and Monroe Capital

    8 Commitments not yet invested

    9 Fee Paying AuM

    10 (Net cash generated from operating activities – lease payments + corporate tax)/adjusted operating profit

    11 EBITDA including IFRS 16 impacts, EBITDA excluding IFRS 16 stands at €87.6m.

    12 Including IFRS 16 impacts. Net debt excluding the impact of IFRS 16 was €341.8m.

    13 Leverage as per credit documentation definition.

    14 Recurring EBITDA post IFRS 16. Recurring EBITDA pre IFRS 16 was $29.3m

    15 Post IFRS 16 impact. Net debt pre IFRS 16 impact was $367.9m.

    16 EBITDA including IFRS 16. EBITDA excluding IFRS16 stands at $13.1m

    17 Including IFRS 16 impacts. Net debt excluding the impact of IFRS 16 was $159.5 million.

    18 EBITDA including IFRS 16 impact. Excluding IFRS 16, EBITDA stands at €24.2 million.

    19 Net debt including IFRS 16 impact. Excluding IFRS 16, net debt stands at €324.0 million.

    20 As per credit documentation (pre IFRS 16).

    21 6-month revenue from December 1, 2024, to May 31, 2025. Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures. These figures are compared with the same period last year and are estimated and non-audited.

    22 EBITDA including IFRS 16 impacts and excluding Indian activities.

    23 Including IFRS 16 impacts; excluding IFRS 16, net debt stood at €572.1 million.

    4 Leverage as per credit documentation definition.

    Attachment

    The MIL Network –

  • MIL-OSI: Crédit Mutuel Alliance Fédérale – 2025 Half-year results press release

    Source: GlobeNewswire (MIL-OSI)

    Results for the period ended June 30, 20251

    1

    		 Press Release
      Strasbourg, July 30, 2025

    First half of 2025:
    very strong business activity and solid results,
    penalized by the non-recurring income tax surcharge

    Crédit Mutuel Alliance Fédérale posted solid results in the first half of 2025, demonstrating the strength of its universal banking and insurance model and the relevance of its Togetherness Performance Solidarity 2024-2027 strategic plan.

    The mutualist group’s operating results reached record levels, with net revenue of €8.8 billion (+6.2%) and income before tax of €2.9 billion (+8.4%). Net income came to €1.8 billion, (-10.1%), penalized by €314 million due to the non-recurring income tax surcharge introduced by the French 2025 Finance Act.

    All business lines delivered solid performances. The banking networks were buoyed by improved net interest margin and a rebound in new business. The insurance and specialized business lines remain solid, despite being particularly hard hit by the surcharge.

    Total cost of risk stabilized at €902 million (-5.8%). It remains high due to the difficulties faced by companies in the current economic climate. With €68 billion in shareholders’ equity and a CET1 ratio of 19.5% estimated at June 30, 2025, the group ranks among the most solid banks in the Eurozone.

    General operating expenses amounted to €5 billion (+6.7%). They reflect Credit Mutuel Alliance Federale’s investments to maintain its technological lead, expand in France and Europe with the planned acquisition of German bank OLB, and maintain a strong social pact.

    Crédit Mutuel Alliance Fédérale, the first bank to adopt the “benefit corporation” approach, has stepped up its efforts to promote the common good. Twenty strong commitments have been adopted by the Chambre Syndicale et interfédérale, its mutualist parliament. These include the Societal Dividend, which allocates 15% of its consolidated net income each year to building a fairer, more sustainable world.

    Results for the period ended June 30, 2025 06/30/2025 06/30/2024 Change
    Record net revenue €8.768bn €8.257bn         +6.2 %
    of which retail banking €6.466bn €6.094bn         +6.1 %
    of which insurance €812m €701m         +15.9 %
    of which specialized business lines 2 €1.532bn €1.491bn         +2.8 %
    General operating expenses reflecting investments -€5.026bn -€4.712bn         +6.7 %
    Stabilized cost of risk -€902m -€957m         -5.8 %
    Record income before tax €2.863bn €2.641bn         +8.4 %
    Net income down due to the corporate tax surcharge effect €1.826bn €2.032bn         -10.1 %
    of which income tax surcharge -€314m N/A N/A
    RENEWED GROWTH IN FINANCING3: +1.1%
    Home loans Equipment loans Consumer credit
    €263.6bn €146.9bn €58.3bn
    A SOLID FINANCIAL STRUCTURE
    CET1 ratio4 Shareholders’ equity
    19.5% €67.7bn

    1 Unaudited financial statements – limited review currently being conducted by the statutory auditors. The Board of Directors met on July 30, 2025 to approve the financial statements. All financial communications are available at www.bfcm.creditmutuel.fr and are published by Crédit Mutuel Alliance Fédérale in accordance with the provisions of Article L. 451-1-2 of the French Monetary and Financial Code and Articles 222-1 et seq. of the General Regulation of the French Financial Markets Authority (Autorité des marchés financiers – AMF). 2 Specialized business lines include corporate banking, capital markets, private equity, asset management and private banking. 3 Change in outstandings calculated over twelve months. 4 Estimated at June 30, 2025, the inclusion of the result in shareholders’ equity is subject to the approval of the ECB.

    Attachment

    The MIL Network –

  • MIL-OSI Analysis: Starmer’s move on Palestinian statehood is clever politics

    Source: The Conversation – UK – By Brian Brivati, Visiting Professor of Contemporary History and Human Rights, Kingston University

    Keir Starmer has announced that the UK will recognise Palestinian statehood by September 2025 unless Israel meets certain conditions, marking a significant shift in UK policy.

    For decades, successive UK governments withheld recognition, insisting it could only come as part of a negotiated settlement between Israel and Palestine. This position, rooted in the Oslo accords of the 1990s and aligned with US policy, effectively gave Israel a veto over Palestinian statehood. As long as Israel refused to engage seriously in peace talks, the UK refrained from acting.

    Starmer has now broken with this precedent, potentially aligning the UK with 147 other countries. But the Israeli government must take what the UK calls “substantive steps” toward peace. These include agreeing to a ceasefire in Gaza, allowing full humanitarian access, explicitly rejecting any plans to annex West Bank territory, and returning to a credible peace process aimed at establishing a two-state solution.



    Read more:
    UK to recognise Palestinian statehood unless Israel agrees to ceasefire – here’s what that would mean

    If Israel meets these conditions, the UK would presumably withhold recognition until the “peace process” has been completed. Starmer made clear that Britain will assess Israeli compliance in September and reserves the right to proceed with recognition regardless of Israel’s response. The message was unambiguous: no one side will have a veto.

    This is more than just clever internal politics and party management. Anything that puts any pressure on Israel to move towards peace should be welcomed. But will it amount to much more than that?

    Starmer has faced criticism over the last few years for resisting recognising Palestine as a state. While Labour’s frontbench held the line for much of the past year, rank-and-file discontent has grown – and with it, the political risks.

    At the heart of Labour’s internal tensions lie two irreconcilable blocs. On one side are MPs and activists – both inside the party and expelled from it – who are vocally pro-Palestinian and have been outraged by the government’s failure to act. On the other side are members of the Labour right who continue to back Israel, oppose unilateral recognition of statehood and focus on the terrible crimes of Hamas but not the IDF campaign in Gaza.

    Between them sits a soft-centre majority, for whom foreign policy is not a defining issue. They are not ideologically committed to either side but have become increasingly uneasy with the escalating violence and the UK’s diplomatic inertia.

    As the humanitarian catastrophe in Gaza deepens, public outrage in the UK has grown. Mass protests have put mounting pressure on the government to act. Within parliament, over 200 MPs, including many from Labour, signed a letter demanding immediate recognition of Palestine. Senior cabinet ministers reportedly pushed hard for the shift on electoral grounds, as well as principle.

    International dynamics have also played a crucial role. France’s announcement that it would recognise Palestine by September, becoming the first major western power to do so, created additional pressure. Spain, Ireland, Norway and several other European states have already taken the step. Britain chose to align itself with this emerging consensus.

    These pressures combined created a sense of urgency and political opportunity. Starmer’s government appears to be using the threat of recognition as leverage –pressuring Israel to return to negotiations and halt annexation plans.

    The calculation seems to be that Israel will either meet the UK’s conditions or face diplomatic consequences, including recognition of Palestine without its consent. There is also the possibility that Israel will simply ignore the UK and press on with its campaign for “Greater Israel”.

    Challenges ahead

    That is why, while this is a meaningful departure from the past, it is not without problems. Chief among them is the principle of conditionality itself. By making recognition contingent on Israeli behaviour, the UK risks reinforcing the very logic it claims to be rejecting – that Palestinian rights can be granted or withheld based on the actions of the occupying power.

    Recognition of statehood should not be used as a diplomatic carrot or stick. It is a matter of justice, not reward. Palestinians are entitled to self-determination under international law.

    There is also concern that the September deadline could become another missed opportunity. If Israel makes vague or symbolic gestures – such as issuing carefully worded statements or temporarily suspending one settlement expansion – will the UK delay recognition further, claiming that “progress” is being made?

    Palestinians have seen such tactics before. Recognition has been delayed for decades in the name of preserving leverage. But leverage for what?

    The Israeli government, dominated by ultra-nationalists and pro-annexation hardliners, is unlikely to satisfy the UK’s conditions in good faith. The risk is that the deadline becomes a mirage – always imminent, never reached.

    Recognition also comes as part of a proposed new peace plan. This will be supported by the UK, France and Germany, and it allows the government to say it is being consist with its policy that recognition is part of a peace plan.

    If, by some miracle, pressure works and Israel meets all the conditions, then the UK can claim that recognition has played a role in bringing Israel back to the negotiating table.

    But if recognition is then withheld, there will not be two equal actors at that table. The State of Palestine will not have been recognised by key international players, and a new round of western-run peace processes will begin. These do not have a good track record.

    If Israel fails to agree to a ceasefire and let aid into Gaza, then Starmer will be forced to go through with recognition.

    For now, he has defused the internal division in his party. It is clever politics, good party management – it remains to be seen if it is also statesmanship.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    Brian Brivati is affiliated with Britain Palestine Project, a Scottish Charity that campaigns for equal rights, justice and security for Israelis and Palestiniains

    – ref. Starmer’s move on Palestinian statehood is clever politics – https://theconversation.com/starmers-move-on-palestinian-statehood-is-clever-politics-262239

    MIL OSI Analysis –

  • MIL-OSI Analysis: Why the Pacific tsunami was smaller than expected – a geologist explains

    Source: The Conversation – UK – By Alan Dykes, Associate Professor in Engineering Geology, Kingston University

    The earthquake near the east coast of the Kamchatka peninsula in Russia on July 30 2025 generated tsunami waves that have reached Hawaii and coastal areas of the US mainland. The earthquake’s magnitude of 8.8 is significant, potentially making it one of the largest quakes ever recorded.

    Countries around much of the Pacific, including in east Asia, North and South America, issued alerts and in some cases evacuation orders in anticipation of potentially devastating waves. Waves of up to four metres hit coastal towns in Kamchatka near where the earthquake struck, apparently causing severe damage in some areas.

    But in other places waves have been smaller than expected, including in Japan, which is much closer to Kamchatka than most of the Pacific rim. Many warnings have now been downgraded or lifted with relatively little damage. It seems that for the size of the earthquake, the tsunami has been rather smaller than might have been the case. To understand why, we can look to geology.

    The earthquake was associated with the Pacific tectonic plate, one of several major pieces of the Earth’s crust. This pushes north-west against the part of the North American plate that extends west into Russia, and is forced downwards beneath the Kamchatka peninsula in a process called subduction.

    The United States Geological Survey (USGS) says the average rate of convergence – a measure of plate movement – is around 80mm per year. This is one of the highest rates of relative movement at a plate boundary.

    But this movement tends to take place as an occasional sudden movement of several metres. In any earthquake of this type and size, the displacement may occur over a contact area between the two tectonic plates of slightly less than 400km by 150km, according to the USGS.

    The Earth’s crust is made of rock that is very hard and brittle at the small scale and near the surface. But over very large areas and depths, it can deform with slightly elastic behaviour. As the subducting slab – the Pacific plate – pushes forward and descends, the depth of the ocean floor may suddenly change.

    Nearer to the coastline, the crust of the overlying plate may be pushed upward as the other pushed underneath, or – as was the case off Sumatra in 2004 – the outer edge of the overlying plate may be dragged down somewhat before springing back a few metres.

    It is these near-instantaneous movements of the seabed that generate tsunami waves by displacing huge volumes of ocean water. For example, if the seabed rose just one metre across an area of 200 by 100km where the water is 1km deep, then the volume of water displaced would fill Wembley stadium to the roof 17.5 million times.

    A one-metre rise like this will then propagate away from the area of the uplift in all directions, interacting with normal wind-generated ocean waves, tides and the shape of the sea floor to produce a series of tsunami waves. In the open ocean, the tsunami wave would not be noticed by boats and ships, which is why a cruise ship in Hawaii was quickly moved out to sea.

    Waves sculpted by the seabed

    The tsunami waves travel across the deep ocean at up to 440 miles per hour, so they may be expected to reach any Pacific Ocean coastline within 24 hours. However, some of their energy will dissipate as they cross the ocean, so they will usually be less hazardous at the furthest coastlines away from the earthquake.

    The hazard arises from how the waves are modified as the seabed rises towards a shoreline. They will slow and, as a result, grow in height, creating a surge of water towards and then beyond the normal coastline.

    The Kamchatka earthquake was slightly deeper in the Earth’s crust (20.7km) than the Sumatran earthquake of 2004 and the Japanese earthquake of 2011. This will have resulted in somewhat less vertical displacement of the seabed, with the movement of that seabed being slightly less instantaneous. This is why we’ve seen tsunami warnings lifted some time before any tsunami waves would have arrived there.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

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

    – ref. Why the Pacific tsunami was smaller than expected – a geologist explains – https://theconversation.com/why-the-pacific-tsunami-was-smaller-than-expected-a-geologist-explains-262273

    MIL OSI Analysis –

  • MIL-OSI Analysis: As climate change hits, what might the British garden of the future look like?

    Source: The Conversation – UK – By Adele Julier, Senior Lecturer in Ecology, University of Portsmouth

    Maria Evseyeva/Shutterstock

    Hosepipe bans in summer 2025 will mean many gardeners having to choose which of their plants to keep going with the watering can, and which to abandon. Are these temporary restrictions actually a sign we need to rethink British gardens altogether?

    Climate change will bring the United Kingdom warmer, wetter winters and hotter, drier summers. Britain has seen warm periods before, such as in the last interglacial period 130,000 years ago, but the current speed of change is unprecedented. This will have many effects, but it will also change one of the core parts of British life: our gardens.

    Rather than fighting the inevitable and trying to keep growing the same plants we have always grown, how might we adapt what we grow and how we grow it?

    The first to go, tragically for some, may be the classic British lawn. Already this year across the country, large areas of grass are looking parched and brown in the face of a long drought. The traditional lawn has just a few species of grass and is unlikely to be very drought-resistant. You can maintain a grass lawn that is more tolerant of dry weather by using drought-resistant fescue species of grass, and keeping the lawn well aerated (that means putting small holes in it to allow air, water and nutrients to reach the grass roots). But it may still suffer periods in which it looks unhealthy.

    Swapping a lawn for a meadow can increase drought tolerance and decrease maintenance such as regular mowing and watering, because meadows only need to be cut once a year and don’t need as much water. Perhaps instead of lawns we can embrace No Mow May all year round, creating a greater diversity of plant and animal life in gardens.

    Wildflowers such as yarrow and common knapweed can be great for pollinators and the birds that feed on them. These plants are drought-tolerant too.

    As well as challenges in the face of a changing climate, there will be opportunities. Grape vines were grown in Britain in Roman times, and British wine production is once again a growing industry. Regular British gardeners could also grow a wider variety of grape vines, and even make their own wine. Warmer, drier summers could make plants such as citrus and olive trees easier to grow, with fruits more likely to ripen and less likely to be lost to frost in winter. Sunflowers, while they already grow here, could also thrive in the new conditions.

    There will be a shift in the best types of decorative plants for gardens, with those needing lots of water, such as hydrangeas, delphiniums and gentians, becoming difficult to grow. We could look to the Mediterranean for inspiration, and choose shrubs such as thyme and lavender, or climbers like passion flowers, that need less water. It is also possible to grow a drought-tolerant garden with plants that are native to Britain, such as species of Geranium and Sedum. Coastal plants such as sea kale and sea holly that grow in harsh, rocky conditions can also make great garden plants in a drier climate.

    Sea holly doesn’t mind our changing climate as much as other garden plants.
    olko1975/Shutterstock

    Finally, the way we garden will need to change. Setting up water storage systems, from simple water butts to larger, more complex systems that could include grey water harvesting (used but clean water from baths and washing up) or underground water storage, will help gardeners to make the most of storms by storing the rainwater for use during droughts. You can set up a dispersion system to recycle lightly used household water, such as from a dishwasher or shower.

    Soil health is important too, as soils with more organic matter are better at holding water. Composting food waste to add to soil would be a great way of helping to increase the organic content and make watering more efficient. This has the added value of avoiding peat composts. Peat comes from wetlands and it will eventually run out. Peat harvesting also releases carbon dioxide into the atmosphere, contributing to climate change.

    The next few decades will be challenging for gardeners. Britain will probably experience an increase in prolonged droughts and other extreme weather, as well as overall warming caused by climate change. Our gardens may cover a small proportion of land in the UK. But we can use them to experiment and develop sustainable ways of existing, growing not just new plants but also hope in the face of adversity.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

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

    – ref. As climate change hits, what might the British garden of the future look like? – https://theconversation.com/as-climate-change-hits-what-might-the-british-garden-of-the-future-look-like-261608

    MIL OSI Analysis –

  • MIL-OSI Analysis: People smugglers adapt to attempts to shut them down – financial sanctions won’t stop the boats

    Source: The Conversation – UK – By David Suber, Departmental Lecturer in Criminology, University of Oxford

    In the latest attempt to crack down on irregular migration, the UK government has announced a raft of international sanctions against people smugglers. The sanctions will use asset freezes, travel bans and other financial restrictions to go after businesses and individuals thought to be facilitating smuggling operations.

    The government has committed to treating irregular migration as a national security threat, to be tackled with tools drawn from the counter-terrorism playbook. But, given the supply and demand forces that drive the smuggling industry, sanctions may not be effective.

    Smuggling is, essentially, a service industry. Opportunistic entrepreneurs charge migrants a fee to enable them to cross borders they wouldn’t otherwise be able to.

    These operations rely on wide networks: suppliers of dinghies and vehicles, informal money transfer brokers, local guides skilled at avoiding detection. While the routes and logistics vary across regions, empirical research consistently shows that smuggling is usually low-skill and fragmented. It’s rarely the domain of organised, mafia-style cartels.

    This regime of sanctions and asset freezes adds a new tactic to a familiar policy toolbox. Previous Conservative governments and EU countries have treated smuggling as a form of organised crime that can only be defeated through security responses. They’ve invested in surveillance, border walls and policing at home and internationally. Evidence suggests this approach is not only ineffective – it can backfire.

    Why sanctions may miss the target

    Smugglers and migrants alike operate in highly hostile environments. Evading detection and minimising risk is essential. This has made migrant smuggling particularly adaptable to criminal justice responses.

    Take money transfers between migrants and smugglers. Smuggling fees are often handled through the informal “hawala” money transfer system. A migrant deposits funds with a broker in the departure country, who holds the money and issues a code. Only once the migrant has safely arrived at their destination is the code released to a second broker, who then pays the smuggler. Debts between hawala brokers are settled when future operations move money in the opposite direction.

    Hawala money transfers are legal in most countries. But as no funds cross borders directly, this type of informal banking lends itself well to transactions that are anonymous and untraceable. The UK’s new sanctions target hawala brokers involved in handling payments between smugglers and their clients. But, in the same way that the structures of smuggling groups have evolved and adapted in response to police or border enforcement, so will their systems to move money safely.

    Follow the money: the new sanctions take aim at the business of smuggling.
    Andrzej Rostek/Shutterstock

    On heavily policed borders such as those in the Balkans, small-scale smugglers, often migrants themselves, have formed more coordinated groups bonded by ethnicity or language. Many of the groups listed in the UK sanctions, such as the Kazawi and Tatwani groups, have been on Interpol’s radar for years.

    Even when key figures are arrested, these groups have demonstrated the ability to disband and regroup on a different border. Sometimes they go quiet while developing new strategies, only to resurface in the same areas, driven by unchanged demand in smuggling services. Hawala brokers hit by the new sanction regime are likely to close and restart operations under different names.

    How effective can UK sanctions be if the targets and their assets are not in the UK, and if their operations can quickly shift across borders and names? Unless other countries follow suit and enforce similar measures, these sanctions may amount to little more than politically symbolic.

    Supply and demand

    So long as migration policy focuses almost exclusively on “smashing the gangs” and targeting the supply side of irregular migration, smugglers and other entrepreneurs involved in facilitating it are likely to reinvent themselves and find new, more precarious ways to circumvent border restrictions.

    Unless implemented internationally, UK sanctions will do little to change this. But international counter-smuggling responses are highly dependant on the specific circumstances faced by the states involved.

    In Italy, right and left-leaning governments have pursued an anti-mafia approach to smuggling for years, with limited results. Earlier this year, Italian authorities arrested suspected trafficker Osama Elmasry Njeem, following a warrant by the International Criminal Court on charges of murder, rape and torture.

    They then released him and repatriated him to Libya, sparking a row with the ICC. Although Italy has made deals with with the Libyan government in Tripoli to stop irregular migrant boats, it appears there were concerns that his arrest could strain relations with Libyan counterparts and trigger a surge in boat arrivals from North Africa. This situation highlights the challenges that can arise with such tactics.

    The idea that cracking down on smugglers, through sanctions or criminal justice responses, will deter people from seeking their services is not supported by evidence. If anything, it increases the risks migrants must take, making journeys more dangerous but no less likely. Migration flows to Europe rise and fall in patterns driven far more by global instability and lack of legal alternatives than by changes in law enforcement.

    Including smugglers in a sanctions regime may create headlines, but it misses the bigger point: people smuggling exists because people need to move. It is a demand-led phenomenon, and it is the demand side – why people turn to smugglers in the first place – that remains largely unaddressed.

    To reduce the power and appeal of smugglers, governments need to open safe, legal pathways for migration. This would reduce reliance on illicit networks, protect vulnerable people and restore order to a system that is politically defined by routine crises.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    David Suber received funding from the UK’s Economic and Social Research Council for his PhD in 2020-2024.

    – ref. People smugglers adapt to attempts to shut them down – financial sanctions won’t stop the boats – https://theconversation.com/people-smugglers-adapt-to-attempts-to-shut-them-down-financial-sanctions-wont-stop-the-boats-261864

    MIL OSI Analysis –

  • MIL-OSI Analysis: How the UK’s cold weather payments need to change to help prevent people freezing in winter

    Source: The Conversation – UK – By Thomas Longden, Senior Researcher, Urban Transformations Research Centre, Western Sydney University

    DimaBerlin/Shutterstock

    The UK government recently expanded the warm home discount by removing restrictions that had previously excluded many people who can’t always afford to heat their homes. Now, the payment of £150 will be received by 2.7 million more households than last winter.

    The UK government has also reversed its decision to limit winter fuel payments to only the poorest pensioners. This could benefit up to 9 million people.

    The UK government has two other mechanisms for reducing heating costs over winter. The warm home discount and winter fuel payment are both one-off payments that help people pay their heating bills. The cold weather payment aims to support people during spells of very cold weather.

    Recipients of specific means-tested benefits in England, Wales and Northern Ireland automatically receive £25 after cold weather occurs in their region. Another policy applies in Scotland, where some people get a single winter heating payment.

    While these changes to the winter fuel payment and warm home discount are welcome, the cold weather payment has long been seen as an outdated, old-fashioned scheme in need of change. For example, it is paid after cold weather happens. Our research indicates that it can be improved by changing this.

    The wide use of smart meters means that researchers like us can now produce data-driven studies that improve our understanding of energy use and expenditure during cold weather. Our recent studies of prepayment meter customers’ energy use indicate ways to improve the cold weather payments.

    Analysis of electricity and gas smart-meter data from 11,500 Utilita Energy prepayment customers showed that 63% of households self-disconnected from energy supply at least once a year. In this study, published in Energy Research & Social Science, we found that more homes self-disconnected from gas during cold periods than at other times. There was no evidence to show that the cold weather payment as presently designed reduced this risk.

    Also using smart meter data from energy company Utilita Energy, a recent study published in the journal Energy Economics shows that prepayment gas customers in regions with high fuel poverty tend to struggle at temperatures below −4°C. Below this temperature, prepayment gas customers need to top up more often and with higher amounts. People using prepayment tend to top-up their credit in advance of cold weather.

    Cold weather payments could be sent directly to customers with smart meters.
    Daisy Daisy/Shutterstock

    In colder weather, more people use emergency credit and disconnect from power more often. Emergency credit is provided by the utility as a short-term loan. Self-disconnections occur when the household has no credit left and they have no energy supply.

    The government’s payment is triggered when the average temperature falls below 0°C for seven consecutive days. As this metric is not reported by news media or meteorology services, it’s hard to know when the cold weather payment will be received. The easiest way to find out if a payment will be made, after cold weather, requires people to enter their postcode at a Department for Work and Pensions website.

    If people are unsure if severe weather is forecast, they may not increase their top-up in advance. They may, however, self-ration or limit energy use to save money.

    The cold weather payment is only paid once even when there are multiple periods of cold. This “overlap penalty” severely affects those living in northern England and particularly Yorkshire, which is a colder region where cold weather spells are more common.

    Cause for reform

    The payment should be made in advance of cold weather, and utility companies could pay it directly to customers who have smart meters. Credits could be applied for those using other types of meters. This is likely to reduce self-disconnections and self-rationing during very cold nights.

    Payments should be triggered by the minimum night-time temperature. The temperature measure used at present is confusing and the money is not paid until up to two weeks after extremely cold weather, which is problematic for those on tight budgets.

    To better match the support needed during cold weather, the amount paid should be increased to £10 a day for every day that minimum temperatures are forecast to be below −4°C. This would improve energy security for people in England, Wales and Northern Ireland.

    A policy will only be effective when it is clearly communicated and understood by those it applies to. To prevent self-rationing, people need to know that payment support has arrived, otherwise they may hesitate to turn up the heating on the coldest days of winter, with all the risks that involves.

    Don’t have time to read about climate change as much as you’d like?

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 45,000+ readers who’ve subscribed so far.

    Thomas Longden has recently received funding from Energy Consumers Australia and Original Power – a community-focused, Aboriginal organisation. He is a member of the ACT Climate Change Council and the NSW branch of the Economic Society of Australia.

    Brenda Boardman is affiliated in the UK with the End Fuel Poverty Coalition and the Labour Party. Her research on pre-payment meter households was co-funded by Utilita Giving.

    Tina Fawcett currently receives funding from UKRI. Her research on pre-payment meter households was co-funded by Utilita Giving.

    – ref. How the UK’s cold weather payments need to change to help prevent people freezing in winter – https://theconversation.com/how-the-uks-cold-weather-payments-need-to-change-to-help-prevent-people-freezing-in-winter-259339

    MIL OSI Analysis –

  • MIL-OSI United Kingdom: What’s changing for children on social media from 25 July 2025

    Source: United Kingdom – Executive Government & Departments 2

    Press release

    What’s changing for children on social media from 25 July 2025

    New laws come into force, protecting under-18s from harmful online content

    From 25 July, the way children experience the internet will fundamentally change, as new laws come into force, protecting under-18s from harmful content they shouldn’t ever be seeing. This includes:

    • pornography
    • self-harm
    • suicide
    • hate speech
    • violence

    Children will have to prove their age to access the most harmful material on social media and other sites, with platforms having to use secure methods like facial scans, photo ID and credit card checks to check the age of their users. This means it will be much harder for under-18s to accidentally or intentionally access harmful content.

    A thousand platforms have confirmed to Ofcom they’ve got these checks in place, including the most visited porn site in the UK, PornHub.

    It comes as Ofcom figures show that children as young as eight have accessed pornography online, and 16% of teenagers report seeing material that stigmatises body types or promotes disordered eating in the last four weeks.

    Children will also see fewer harmful posts and videos in their feeds, with platforms required to make sure their algorithms aren’t feeding children content that promotes harmful behaviours like bullying, hate speech or dangerous online challenges.

    And when harmful content does appear, platforms will need to act quickly to remove it. If children are seeing something harmful or inappropriate, it will be easier to find help and report it.

    Technology secretary Peter Kyle said:

    Our lives are no longer split between the online and offline worlds – they are one and the same. What happens online is real. It shapes our children’s minds, their sense of self, and their future. And the harm done there can be just as devastating as anything they might face in the physical world.

    We’ve drawn a line in the sand. This Government has taken one of the boldest steps anywhere in the world to reclaim the digital space for young people – to lay the foundations for a safer, healthier, more humane place online.

    We cannot – and will not – allow a generation of children to grow up at the mercy of toxic algorithms, pushed to see harmful content they would never be exposed to offline. This is not the internet we want for our children, nor the future we are willing to accept.

    The time for tech platforms to look the other way is over. They must act now to protect our children, follow the law, and play their part in creating a better digital world.

    And let me be clear: if they fail to do so, they will be held to account. I will not hesitate to go further and legislate to ensure that no child is left unprotected.

    Enforcement action from the regulator

    From 25 July these protections will be fully enforceable and services that don’t comply could face serious enforcement action from Ofcom including fines.  

    Enforcement action can be 10% of the companies’ qualifying global annual revenues or £18 million, whichever is greater.

    Action platforms will legally have to take

    Block access to harmful content 

    • Starting from 25 July, platforms that host pornography, or content which encourages self-harm, suicide or eating disorder content will have to put in place robust age-checks. This means: 
      • using highly effective age assurance, like facial age estimation, photo-ID matching, or credit card checks to verify age more reliably; and 
      • stopping children encountering harmful content on the site – either by age restricting parts of the platform or blocking access to the site by under 18s 
      • this will create extra steps when creating a new account or attempting to access content not appropriate for children.
      • in practice, this is like a child not being able to sign up for a credit card, or buy alcohol, and means that children will encounter fewer instances of harmful content and have a more age-appropriate experience online 

    Provide safer feeds and fewer toxic algorithms 

    • The codes set out how platforms can reduce toxic algorithms which we know can recommend harmful content to children without them seeking it out.  
    • This includes ensuring that algorithms do not operate in a way that harms children, such as by pushing content related to suicide, self-harm, eating disorders, and pornography. That means fewer risky rabbit holes and more control over what children see on their feeds. 

    Take faster action on harmful content 

    • Platforms will need more robust content moderation systems to take swift action against content that is harmful to children when they become aware of it. 
    • Search engines should filter out the most harmful content for children, for example by using a ‘safe search’ setting for children, which can’t be turned off.

    User support 

    • Platforms will also be required to ensure they provide clear and easy-to-find information for children, and the adults who care for them.  
    • This will include easy-to-use reporting and complaints processes, as well as tools and support for children to help them stay safe online. 

    Types of ‘harmful content’ the codes apply to

    Platforms which host pornography, or the most harmful content to children and are likely to be accessed by children, must implement highly effective age assurance to prevent children from accessing said content. 

    This content is described as primary priority content and includes: 

    • pornography, and
    • content that encourages, promotes, or provides instructions for:
      • self-harm
      • suicide
      • eating disorders 

    Wider harmful content is known as priority content. The codes instruct platforms to protect children from this content by providing age-appropriate experiences. This category of content includes:

    • bullying
    • abusive or hateful content, and
    • content which encourages:
      • or depicts serious violence or injury
      • dangerous stunts and challenges
      • the ingestion, inhalation or exposure to harmful substances

    ENDS

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 3000

    Updates to this page

    Published 24 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Canada: New York Call – Joint statement of the Ministers of Foreign Affairs

    Source: Government of Canada News

    July 30, 2025 – Ottawa, Ontario – Global Affairs Canada

    The Foreign Ministers of Andorra, Australia, Canada, Finland, France, Iceland, Ireland, Luxembourg, Malta, New Zealand, Norway, Portugal, San Marino, Slovenia and Spain, issued the following statement:

    “We, Ministers of Foreign Affairs of Andorra, Australia, Canada, Finland, France, Iceland, Ireland, Luxembourg, Malta, New Zealand, Norway, Portugal, San Marino, Slovenia and Spain, condemn the heinous and antisemitic terrorist attack of October 7th, 2023;

    “Demand an immediate ceasefire, the immediate and unconditional release of all hostages of Hamas, including the remains, as well as ensuring unhindered humanitarian access;

    “Reiterate our unwavering commitment to the vision of the two-State solution where two democratic States, Israel and Palestine, live side by side in peace within secure and recognized borders, consistent with international law and relevant UN resolutions, and in this regard stress the importance of unifying the Gaza Strip with the West Bank under the Palestinian Authority;

    “Express grave concern over the high number of civilian casualties and humanitarian situation in Gaza and emphasize the essential role of the United Nations and its agencies in facilitating humanitarian assistance;

    Welcome the commitments made by the President of the Palestinian Authority on June 10th where he (i) condemns the October 7th terrorist attacks (ii) calls for the liberation of hostages and disarmament of Hamas (iii) commits to terminate the prisoner payment system (iv) commits to schooling reform, (v) commits to call for elections within a year to trigger generational renewal and (vi) accepts the principle of a demilitarized Palestinian State;

    “Ahead of the meeting of the Heads of State and Government that will take place during the high-level week of the 80th session of the United Nations General Assembly (UNGA 80) in September 2025, we, Ministers of Foreign Affairs of Andorra, Australia, Canada, Finland, France, Iceland, Ireland, Luxembourg, Malta, New Zealand, Norway, Portugal, San Marino, Slovenia and Spain, have already recognized, have expressed or express the willingness or the positive consideration of our countries to recognize the State of Palestine, as an essential step towards the two-State solution, and invite all countries that have not done so to join this call;

    “Urge countries who have not done so yet to establish normal relations with Israel, and to express their willingness to enter into discussions on the regional integration of the State of Israel;

    “Express our determination to work on an architecture for the ‘day after’ in Gaza which guarantees the reconstruction of Gaza, the disarmament of Hamas and its exclusion from the Palestinian governance.”

    MIL OSI Canada News –

  • MIL-OSI Europe: AFRICA/SOUTH SUDAN – National Martyrs’ Day: Bishop Hiiboro Kussala calls for peace in the country

    Source: Agenzia Fides – MIL OSI

    Wednesday, 30 July 2025

    Tombura-Yambio (Agenzia Fides) – “As a bishop, I pledge to speak out until the truth is heard. To walk with the victims and wounded families. To offer the Church as a space for reconciliation and dialogue. To pray unceasingly for peace and work side by side with all those who pursue it. I will not remain silent. I will not give up. I will be with you until peace prevails.”These are the words that Barani Eduardo Hiiboro Kussala, Bishop of Tombura-Yambio, addressed to the representatives of the South Sudanese government and all people of good will.“After four years of bloodshed, homes in flames, families destroyed, and buried dreams, our people live under plastic sheets, drink contaminated water, walk in fear, and bury their loved ones in silence. This is not a political issue, it is a humanitarian tragedy and a moral failure.”The bishop, who is also President of the Interreligious Council for the Peace Initiative in Western Equatoria State, South Sudan, launches the appeal on the occasion of Martyrs’ Day, today, July 30, 2025: “Let us not belittle their sacrifice with more blood. Let us honor them by bringing peace where there is pain and life where death has reigned.”This day, established to remember the victims and promote peace, commemorates those killed in the conflict between the Sudanese Armed Forces and the Rapid Support Forces, which began in April 2023.“The cry of our brothers in Tombura has echoed for too long,” Hiiboro continues. “We do not wish to condemn, but to awaken the conscience of a nation. We urge you as pastors, fellow citizens, and children of one God. May Tombura be our turning point, a sacred place where the nation chooses healing over hatred, truth over propaganda, and hope over despair,” he added.Addressing the government of South Sudan, the bishop states: “Now is the time to act. We call on everyone, from the highest office to the smallest local leader, to act with boldness, compassion, and determination. Deploy protection forces to stop all violence and restore the rule of law. Disarm and dismantle anyone illegally possessing firearms. Open space for inclusive dialogue involving leaders, youth, women, churches, and civil society. Promptly punish hate speech, disinformation, and tribal incitement. Ensure humanitarian access and rebuild social, health, and education services.”“This is our common pain,” he says, and addressing the people of South Sudan, he adds: “Tombura is not alone. When one limb suffers, the whole body suffers. This is not a tragedy of Tombura, it is a wound of South Sudan. To the elders, rise up with wisdom and counsel. To mothers and women, be voices of healing and moral resistance. To the young, refuse to be weapons of destruction. Choose peace, build South Sudan. To religious communities, unite in truth and reconciliation. To the international community, do not look the other way. Peace needs partners. Lives must be saved.”“If we do nothing, the future is at risk. If the violence in Tombura continues, the cost will be unbearable. Entire communities will disappear. Tribal hatred will spread throughout all regions,” he warns.And he continues: “Trust in the government and in national unity will be further eroded. Generations of young people will be lost to revenge or violence. If we choose peace, it will be a new dawn for South Sudan; if we act together, with sincerity, peace will flourish. Children will return to school, families to their homes, and farmers to their fields. Trust will grow between tribes, between citizens and their government. The soul of South Sudan will be reborn not in blood, but in justice.” “May Tombura become a sign that South Sudan chooses life,” concludes Bishop Hiiboro Kussala. (AP) (Agenzia Fides, 30/7/2025)
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  • MIL-OSI Europe: AMERICA/COLOMBIA – Augustinian priest released 40 days after his disappearance

    Source: Agenzia Fides – MIL OSI

    Wednesday, 30 July 2025

    Agostiniani, Provincia di Nuestra Señora de Gracia

    Bogotá (Agenzia Fides) – Forty days after his disappearance, Carlos Saúl Jaimes Guerrero, an Augustinian priest belonging to the Province of Our Lady of Grace, has been released. The priest’s religious community announced this in a statement: “With profound gratitude, we want to share with all of you—friends, faithful, religious communities, and people of good will who have listened to us—news that fills us with joy: our brother, Father Carlos Saúl Jaimes, has been released.”The priest, according to the government of the department of Cundinamarca, “was kidnapped on June 17 in a rural area of the municipality of Viotá and released on the morning of Sunday, July 27, in a rural area of the municipality of El Colegio. He was found in good health.”Father Carlos disappeared after leaving for a farm known as Casacoima, on the outskirts of Viotá. A few hours later, his vehicle was found abandoned on a path near a ravine, with the engine running. Since then, various joint operations have been launched between the Viotá Mayor’s Office, the police, and the National Guard.Once the investigation began, law enforcement followed the kidnapping, among others. However, no one claimed responsibility for the incident, nor was a ransom demanded. The family also offered a reward for anyone who provided information useful in finding the priest. However, nothing was known until July 27, when law enforcement finally found him.The website of the Cundinamarca Department Governor’s Office specifies that “at the express request of the family, no further details about the circumstances of his release will be revealed.” No precise information has yet been provided about the days of his disappearance.The Augustinian Order expressed its gratitude for the community’s support and asked for discretion: “We ask for understanding and respect so that Father Carlos Saúl can have a satisfactory recovery together with his family and the religious community.” (F.B.) (Agenzia Fides, 30/7/2025)
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