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Category: Europe

  • MIL-OSI: Global-e Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    PETAH-TIKVA, Israel, May 14, 2025 (GLOBE NEWSWIRE) — Global-e Online Ltd. (Nasdaq: GLBE) the platform powering global direct-to-consumer e-commerce, today reported financial results for the first quarter of 2025.

    “We had another quarter of strong results, demonstrating our ability to grow fast even within macroeconomic turbulent times with Q1 results coming in at or above the midpoints across our guidance. While the market remains volatile with a higher level of uncertainty given the on-going global duty tariff dynamics, our pipeline is very active and we see increased interest in our services.”

    We are also excited about the long term extension of our strategic partnership agreement with Shopify, which will allow us to take this partnership to the next level,” said Amir Schlachet, Founder and CEO of Global-e.”

    Q1 2025 Financial Results

    • GMV1 in the first quarter of 2025 was $1,243 million, an increase of 34% year over year
    • Revenue in the first quarter of 2025 was $189.9 million, an increase of 30% year over year, of which service fees revenue was $84.0 million and fulfillment services revenue was $105.9 million
    • Non-GAAP gross profit2 in the first quarter of 2025 was $86.3 million, an increase of 31% year over year. GAAP gross profit in the first quarter of 2025 was $84.1 million
    • Non-GAAP gross margin2 in the first quarter of 2025 was 45.4%, compared to 45.3% in the first quarter of 2024. GAAP gross margin in the first quarter of 2025 was 44.3%
    • Adjusted EBITDA3 in the first quarter of 2025 was $31.6 million compared to $21.3 million in the first quarter of 2024
    • Net loss in the first quarter of 2025 was $17.9 million compared to $32.1 million in the first quarter of 2024

    Recent Business Highlights

    • Announced a new 3-year strategic partnership agreement with Shopify, renewing the companies’ long-standing relationship for both 1P (i.e. Shopify Managed Markets) and 3P solutions
    • Launched our 3B2C offering allowing merchants to partially mitigate unnecessary price hikes in key destination markets, while avoiding the costs and effort involved in creating a full multi-local setup for specific markets
    • Revamped our Merchant Portal, adding two important Self-Service BI tools for merchants – a real time sales dashboard and a funnel analysis dashboard, and providing easier access to frequently used areas
    • Continued growing with brands across geographies and verticals, including:
      • Europe: Launched Subdued out of Italy and VIBAe footwear, Global-e’s first large merchant based in Finland
      • Sports clubs: Launched with Atletico Madrid in Spain
      • APAC: Multiple merchant launches including Threetimes and Samo Ondoh in Korea, T2Tea and Scarlet & Sam in Australia, Bandai-Namco, United Arrows Tabaya and Sacai in Japan, and many more
      • Expanded with a number of merchants including the launch of Adidas Hong Kong

    Q2 2025 and Full Year Outlook

    Global-e is introducing second quarter guidance and is maintaining the full year guidance as follows:

    Q2 2025 and Full Year Outlook

    Global-e is introducing second quarter guidance and is maintaining the full year guidance as follows:

      Q2 2025   FY 2025   Previous FY 2025
    (in millions)
    GMV (1) $1,387 – $1,427   $6,190 – $6,490   $6,190 – $6,490
    Revenue $204 – $211   $917 – $967   $917 – $967
    Adjusted EBITDA (3) $35 – $39   $179 – $199   $179 – $199

    1 Gross Merchandise Value (GMV) is a key operating metric. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric.

    2 Non-GAAP Gross profit and Non-GAAP gross margin are non-GAAP financial measures. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric.

    3 Adjusted EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” for additional information regarding this metric, including the reconciliations to Operating Profit (Loss), its most directly comparable GAAP financial measure. The Company is unable to provide a reconciliation of Adjusted EBITDA to Operating Profit (Loss), its most directly comparable GAAP financial measure, on a forward-looking basis without unreasonable effort because items that impact this GAAP financial measure are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to, share-based compensation expenses. Such information may have a significant, and potentially unpredictable impact on the Company’s future financial results.

    Conference Call Information:

    Global-e will host a conference call at 8:00 a.m. ET on Wednesday, May 14, 2025.
    The call will be available, live, to interested parties by dialing:

    United States/Canada Toll Free: 1-800-717-1738
    International Toll: 1-646-307-1865
       

    A live webcast will also be available in the Investor Relations section of Global-E’s website at: https://investors.global-e.com/news-events/events-presentations

    Approximately two hours after completion of the live call, an archived version of the webcast will be available on the Investor Relations section of the Company’s web site and will remain available for approximately 30 calendar days.

    The press release with the financial results will be accessible on the Company’s Investor Relations website prior to the conference call.

    Non-GAAP Financial Measures and Key Operating Metrics

    To supplement Global-e’s financial information presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, Global-e considers certain financial measures and key performance metrics that are not prepared in accordance with GAAP including:

    • Non-GAAP gross profit, which Global-e defines as gross profit adjusted for amortization of acquired intangibles. Non-GAAP gross margin is calculated as Non-GAAP gross profit divided by revenues
    • Adjusted EBITDA, which Global-e defines as net profit (loss) adjusted for income tax (benefit) expenses, financial expenses (income) net, stock based compensation expenses, depreciation and amortization, commercial agreements amortization, amortization of acquired intangibles, merger related contingent consideration, and acquisition related expenses.
    • Free Cash Flow, which Global-e defines as net cash provided by operating activities less the purchase of property and equipment.

    Global-e also uses Gross Merchandise Value (GMV) as a key operating metric. Gross Merchandise Value or GMV is defined as the combined amount we collect from the shopper and the merchant for all components of a given transaction, including products, duties and taxes and shipping.

    The aforementioned key performance indicators and non-GAAP financial measures are used, in conjunction with GAAP measures, by management and our board of directors to assess our performance, including the preparation of Global-e’s annual operating budget and quarterly forecasts, for financial and operational decision-making, to evaluate the effectiveness of Global-e’s business strategies, and as a means to evaluate period-to-period comparisons. These measures are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. We believe that these non-GAAP financial measures are appropriate measures of operating performance because they remove the impact of certain items that we believe do not directly reflect our core operations, and permit investors to view performance using the same tools that we use to budget, forecast, make operating and strategic decisions, and evaluate historical performance.

    Global-e’s definition of Non-GAAP measures may differ from the definition used by other companies and therefore comparability may be limited. In addition, other companies may not publish these metrics or similar metrics. Furthermore, these metrics have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. Thus, Non-GAAP measures should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.

    For more information on the non-GAAP financial measures, please see the reconciliation tables provided below. The accompanying reconciliation tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures.

    Cautionary Note Regarding Forward Looking Statements

    This press release contains estimates and forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our future strategy and projected revenue, GMV, Adjusted EBITDA and other future financial and operational results, growth strategy and plans and objectives of management for future operations, including, among others, expansion in new and existing markets, the launch of large enterprise merchants, and our ongoing partnership with Shopify, are forward-looking statements. As the words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Global-e believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, our rapid growth and growth rates in recent periods may not be indicative of future growth; our ability to retain existing merchants and to attract new merchants; our ability to anticipate merchant needs or develop or integrate new functionality or enhance our existing platforms to meet those needs; the impact of imposed tariffs or other trade regulations on our business and financial results; our ability to implement and use artificial intelligence and machine learning technologies successfully; our ability to compete in our industry; our reliance on third-parties, including our ability to realize the benefits of any strategic alliances, joint ventures, or partnership arrangements and to integrate our platforms with third-party platforms; our ability to adapt our platform and services for the Shopify platforms; our ability to develop or maintain the functionality of our platforms, including real or perceived errors, failures, vulnerabilities, or bugs in our platforms; our history of net losses; our ability to manage our growth and manage expansion into additional markets and the introduction of new platforms and offerings; our ability to accommodate increased volumes during peak seasons and events; our ability to effectively expand our marketing and sales capabilities; our expectations regarding our revenue, expenses and operations; our ability to operate internationally; our reliance on third-party services, including third-party providers of cross-docking services and third-party data centers, in our platforms and services and harm to our reputation by our merchants’ or third-party service providers’ unethical business practices; our operation as a merchant of record for sales conducted using our platform; regulatory requirements and additional fees related to payment transactions through our e-commerce platforms could be costly and difficult to comply with; compliance and third-party risks related to anti-money laundering, anti-corruption, anti-bribery, regulations, economic sanctions and export control laws and import regulations and restrictions; our business’s reliance on the personal importation model; our ability to securely store personal information of merchants and shoppers; increases in shipping rates; fluctuations in the exchange rate of foreign currencies has impacted and could continue to impact our results of operations; our ability to offer high quality support; our ability to expand the number of merchants using our platforms and increase our GMV and to enhance our reputation and awareness of our platforms; our ability to adapt to emerging or evolving regulatory developments, changing laws, regulations, standards and technological changes related to privacy, data protection, data security and machine learning technology and generative artificial intelligence evolves; our role in the fulfilment chain of the merchants, which may cause third parties to confuse us with the merchants; our ability to establish and protect intellectual property rights; and our use of open-source software which may pose particular risks to our proprietary software technologies; our dependency on our executive officers and other key employees and our ability to hire and retain skilled key personnel, including our ability to enforce non-compete agreements we enter into with our employees; litigation for a variety of claims which we may be subject to; the adoption by merchants of a D2C model; our anticipated cash needs and our estimates regarding our capital requirements and our needs for additional financing; our ability to maintain our corporate culture; our ability to maintain an effective system of disclosure controls and internal control over financial reporting; our ability to accurately estimate judgments relating to our critical accounting policies; changes in tax laws or regulations to which we are subject, including the enactment of legislation implementing changes in taxation of international business activities and the adoption of other corporate tax reform policies; requirements to collect sales or other taxes relating to the use of our platforms and services in jurisdictions where we have not historically done so; global events or conditions in individual markets such as financial and credit market fluctuations, war, climate change, and macroeconomic events; risks relating to our ordinary shares, including our share price, the concentration of our share ownership with insiders, our status as a foreign private issuer, provisions of Israeli law and our amended and restated articles of association and actions of activist shareholders; risks related to our incorporation and location in Israel, including risks related to the ongoing war and related hostilities; and the other risks and uncertainties described in Global-e’s Annual Report on Form 20-F for the year ended December 31, 2024, filed with the SEC on March 27, 2025 and other documents filed with or furnished by Global-e from time to time with the Securities and Exchange Commission (the “SEC”). The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.

    About Global-E Online Ltd.

    Global-e (Nasdaq: GLBE) is the world’s leading platform enabling and accelerating global, Direct-To-Consumer e-commerce. The chosen partner of over 1,400 brands and retailers across the North America, EMEA and APAC, Global-e makes selling internationally as simple as selling domestically. The company enables merchants to increase the conversion of international traffic into sales by offering online shoppers in over 200 destinations worldwide a seamless, localized shopping experience. Global-e’s end-to-end e-commerce solutions combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast global e-commerce experience, enabling international shoppers to buy seamlessly online and retailers to sell to, and from, anywhere in the world. For more information, please visit: www.global-e.com.

    Investor Contact:
    Alan Katz
    Vice President, Investor Relations
    IR@global-e.com

    Press Contact:
    Sarah Schloss
    Headline Media
    Globale@headline.media 
    +1 786-233-7684

    Global-E Online Ltd.
    CONSOLIDATED BALANCE SHEETS
    (In thousands)
     
        Period Ended
         December 31,     March 31, 
         2024     2025 
          (Audited)        (Unaudited)  
    Assets                
    Current assets:                
    Cash and cash equivalents   $ 254,620     $ 207,716  
    Short-term deposits     183,475       183,229  
    Accounts receivable, net     41,171       34,700  
    Prepaid expenses and other current assets     84,613       116,967  
    Marketable securities     36,345       53,888  
    Funds receivable, including cash in banks     122,984       87,484  
    Total current assets     723,208       683,984  
    Property and equipment, net     10,440       10,453  
    Operating lease right-of-use assets     24,429       23,365  
    Deferred contract acquisition and fulfillment costs, noncurrent     3,787       3,836  
    Long-term investments and other long-term assets     8,313       8,213  
    Commercial agreement asset     66,527        29,510  
    Goodwill     367,566        367,566  
    Intangible assets, net     59,212        54,810  
    Total long-term assets     540,274       497,753  
    Total assets   $ 1,263,482     $ 1,181,737  
    Liabilities and Shareholders’ Equity                
    Current liabilities:                
    Accounts payable   $ 79,559     $ 67,184  
    Accrued expenses and other current liabilities     141,551       117,852  
    Funds payable to Customers     122,984       87,484  
    Short term operating lease liabilities     4,347       4,366  
    Total current liabilities     348,441       276,886  
    Long-term liabilities:                
    Long term operating lease liabilities     20,510       19,508  
    Other long-term liabilities     1,098       1,088  
    Total liabilities   $ 370,049     $ 297,482  
                     
    Shareholders’ equity:                
    Share capital and additional paid-in capital     1,425,317       1,434,341  
    Accumulated comprehensive income (loss)     515       169  
    Accumulated deficit     (532,399 )     (550,255 )
    Total shareholders’ equity     893,433       884,255  
    Total liabilities and shareholders’ equity   $ 1,263,482     $ 1,181,737  
                     
    Global-E Online Ltd.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (In thousands, except share and per share data)
     
        Three Months Ended  
        March 31,  
        2024     2025  
        (Unaudited)  
    Revenue   $ 145,873     $ 189,882  
    Cost of revenue     82,587       105,798  
    Gross profit     63,286       84,084  
                     
    Operating expenses:                
    Research and development     23,538       28,138  
    Sales and marketing     56,955       63,938  
    General and administrative     12,054       11,193  
    Total operating expenses     92,547       103,269  
    Operating profit (loss)     (29,261 )     (19,185 )
    Financial expenses (income), net     3,510       (1,870 )
    Loss before income taxes     (32,771 )     (17,315 )
    Income taxes     (720 )     541  
    Net earnings (loss) attributable to ordinary shareholders   $ (32,051 )   $ (17,856 )
    Basic and diluted net loss per share attributable to ordinary shareholders   $ (0.19 )     (0.11 )
    Basic and diluted weighted average ordinary shares     166,187,424       169,346,771  
    Global-E Online Ltd.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In thousands)
     
        Three Months Ended  
        March 31,  
        2024   2025
        (Unaudited)  
    Operating activities                
    Net loss   $ (32,051 )   $ (17,856 )
    Adjustments to reconcile net loss to net cash provided by operating activities:                
    Depreciation and amortization     512       536  
    Share-based compensation expense     8,711       8,793  
    Commercial agreement asset amortization     36,296       37,017  
    Intangible assets amortization     5,002       4,402  
    Changes in accrued interest and exchange rate on short-term deposits     369       (842 )
    Unrealized loss (gain) on foreign currency     2,726       (1,477 )
    Accounts receivable     8,418       6,471  
    Prepaid expenses and other assets     2,685       (28,405 )
    Funds receivable     (7,688 )     (9,182 )
    Long-term receivables     708       101  
    Funds payable to customers     (30,857 )     (35,500 )
    Operating lease ROU assets     817       1,064  
    Deferred contract acquisition and fulfillment costs     (268 )     (101 )
    Accounts payable     (17,049 )     (12,375 )
    Accrued expenses and other liabilities     (30,228 )     (23,710 )
    Deferred tax liabilities     (1,424 )     –  
    Operating lease liabilities     (944 )     (983 )
    Net cash (used in) provided by operating activities     (54,265 )     (72,047 )
    Investing activities                
    Investment in marketable securities     (1,042 )     (17,768 )
    Proceeds from marketable securities     1,012       999  
    Investment in short-term investments and deposits     (56,949 )     (70,972 )
    Proceeds from short-term investments     58,000       67,059  
    Investment in long-term deposits     (31 )     –  
    Purchases of property and equipment     (882 )     (548 )
    Net cash (used in) provided by investing activities     108       (21,230 )
    Financing activities                
    Proceeds from exercise of share options     120       210  
    Net cash provided by financing activities     120       210  
    Exchange rate differences on balances of cash, cash equivalents and restricted cash     (2,726 )     1,477  
    Net increase (decrease) in cash, cash equivalents, and restricted cash     (56,763 )     (91,590 )
    Cash and cash equivalents and restricted cash—beginning of period     268,597       331,682  
    Cash and cash equivalents and restricted cash—end of period   $ 211,834     $ 240,092  
    Global-E Online Ltd.
    SELECTED OTHER DATA
    (In thousands)
     
        Three Months Ended  
        March 31,  
        2024
    		   2025  
        (Unaudited)  
    Key performance metrics      
    Gross Merchandise Value     929,510               1,242,514            
    Adjusted EBITDA (a)     21,260               31,563            
                                       
    Revenue by Category                                  
    Service fees     68,258       47 %     83,983       44 %  
    Fulfillment services     77,615       53 %     105,899       56 %  
    Total revenue   $ 145,873       100 %   $ 189,882       100 %  
                                       
    Revenue by merchant outbound region                                  
    United States     72,112       49 %     100,554       53 %  
    United Kingdom     41,276       28 %     41,747       22 %  
    European Union     26,343       18 %     33,530       18 %  
    Israel     316       0 %     401       0 %  
    Other     5,826       4 %     13,650       7 %  
    Total revenue   $ 145,873       100 %   $ 189,882       100 %  

    (a) See reconciliation to adjusted EBITDA table

    Global-E Online Ltd.
    RECONCILIATION TO Non-GAAP GROSS PROFIT
    (In thousands)
     
        Three Months Ended  
        March 31,  
          2024       2025  
        (Unaudited)  
    Gross profit     63,286       84,084  
                     
    Amortization of acquired intangibles included in cost of revenue     2,796       2,198  
    Non-GAAP gross profit     66,082       86,282  
    Global-E Online Ltd.
    RECONCILIATION TO ADJUSTED EBITDA
    (In thousands)
     
        Three Months Ended  
        March 31,  
        2024
    		   2025
        (Unaudited)  
    Net profit (loss)     (32,051 )     (17,856 )
    Income tax (benefit) expenses     (720 )     541  
    Financial expenses (income), net     3,510       (1,870 )
    Stock-based compensation:                
    Cost of revenue     180       267  
    Research and development     3,468       3,625  
    Selling and marketing     1,282       1,438  
    General and administrative     3,781       3,463  
    Total stock-based compensation     8,711       8,793  
                     
    Depreciation and amortization     512       536  
                     
    Commercial agreement asset amortization     36,296       37,017  
                     
    Amortization of acquired intangibles     5,002       4,402  
    Adjusted EBITDA     21,260       31,563  
    Global-E Online Ltd.
    RECONCILIATION TO Free Cash Flow
    (In thousands)
     
        Three Months Ended  
        March 31,  
          2024       2025  
        (Unaudited)  
    Net cash (used in) provided by operating activities     (54,265 )     (72,047 )
    Purchase of property and equipment     (882 )     (548 )
    Free Cash Flow     (55,147 )     (72,595 )

    The MIL Network –

  • MIL-OSI: Tower Semiconductor Reports 2025 First Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    9% year-over-year revenue growth

    Affirms sequential quarterly revenue growth target throughout 2025

    MIGDAL HAEMEK, Israel, May 14, 2025 (GLOBE NEWSWIRE) — Tower Semiconductor (NASDAQ/TASE: TSEM) reports today its results for the first quarter ended March 31, 2025.

    First Quarter of 2025 Results Overview
    Revenues for the first quarter of 2025 were $358 million as compared to $327 million for the first quarter of 2024, representing 9% year-over-year revenue growth.

    Gross profit and operating profit for the first quarter of 2025 were $73 million and $33 million, respectively, as compared to gross profit and operating profit of $73 million and $34 million in the first quarter of 2024, respectively. Gross and operating profits remain similar since the positive impact of the $31 million revenue increase was offset by the fixed costs of the new 300mm Agrate facility, as previously disclosed.

    Net profit for the first quarter of 2025 was $40 million, reflecting $0.36 basic and $0.35 diluted earnings per share. First quarter of 2024 net profit was $45 million, reflecting $0.40 basic and diluted earnings per share, having been positively impacted by a non-recurring income tax benefit.

    Cash flow generated from operating activities in the first quarter of 2025 was $94 million. Investments in property and equipment, net, were $111 million and debt payments totaled $27 million.

    Corporate Credit Rating 
    On May 7, 2025, Standard & Poor’s Maalot (an S&P Global Ratings fully owned company) completed its annual rating review for the Company and reaffirmed its corporate credit rating as “ilAA, with a stable outlook”.

    Business Outlook
    Tower Semiconductor guides revenues for the second quarter of 2025 to be $372 million, with an upward or downward range of 5%, reflecting 6% year-over-year revenue increase; and reiterates its previously communicated company target for continued quarter-over-quarter revenue growth within 2025.

    Russell Ellwanger, Chief Executive Officer of Tower Semiconductor, stated:
    “Tower delivered continued record revenue in RF infrastructure, which includes SiPho and SiGe. We target further revenue growth of these technologies throughout the year, increases in our high voltage 200mm power management business and higher revenue levels in our sensors business. Additionally, we have entered a new served market for Tower, namely envelope trackers, using our 300mm technology platform. In the face of geo-political uncertainties, we are leveraging Tower’s global scale and technology breadth into new opportunities.”

    Teleconference and Webcast
    Tower Semiconductor will host an investor conference call today, Wednesday, May 14, 2025, at 10:00 a.m. Eastern time (9:00 a.m. Central time, 8:00 a.m. Mountain time, 7:00 a.m. Pacific time and 5:00 p.m. Israel time) to discuss the Company’s financial results for the first quarter of 2025 and its business outlook.

    The call will be webcast and available through the Investor Relations section of Tower Semiconductor’s website at ir.towersemi.com. The pre-registration form required for dial-in participation is accessible here. Upon completing the registration, participants will receive the dial-in details, a unique PIN, and a confirmation email with all necessary information. To access the webcast, click here. The teleconference will be available for replay for 90 days.

    Non-GAAP Financial Measures
    The Company presents its financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial information included in the tables below includes unaudited condensed financial data. Some of the financial information, which may be used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, which we may describe as adjusted financial measures and/or reconciled financial measures, are non-GAAP financial measures as defined in Regulation G and related reporting requirements promulgated by the Securities and Exchange Commission (the “SEC”) as they apply to our Company. These adjusted financial measures are calculated excluding the following: (i) amortization of acquired intangible assets as included in our costs and expenses, (ii) compensation expenses in respect of equity grants to directors, officers, and employees as included in our costs and expenses, (iii) merger contract termination fees received from Intel, net of associated cost and taxes following the previously announced Intel contract termination as included in net profit in 2023 and (iv) restructuring income, net, which includes income, net of cost and taxes associated with the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, which occurred during 2022, as included in net profit. These adjusted financial measures should be evaluated in conjunction with, and are not a substitute for, GAAP financial measures. The tables also present the GAAP financial measures, which are most comparable to the adjusted financial measures used and/or presented in this release, as well as a reconciliation between the adjusted financial measures and the comparable GAAP financial measures. As used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, as well as may be included and calculated in the tables herein, the term Earnings Before Interest Taxes, Depreciation and Amortization which we define as EBITDA consists of operating profit in accordance with GAAP, excluding (i) depreciation expenses, which include depreciation recorded in cost of revenues and in operating cost and expenses lines (e.g., research and development related equipment and/or fixed other assets depreciation), (ii) stock-based compensation expense, (iii) amortization of acquired intangible assets, (iv) merger contract termination fees received from Intel, net of associated cost following the previously announced Intel contract termination, as included in operating profit and (v) restructuring income, net in relation to the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, as included in operating profit. EBITDA is reconciled in the tables below and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company from GAAP operating profit. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, are not a required GAAP financial measure and may not be comparable to a similarly titled measure employed by other companies. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Net Cash, as may be used and/or presented in this release and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is comprised of cash, cash equivalents, short-term deposits, and marketable securities less debt amounts as presented in the balance sheets included herein. The term Net Cash is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for cash, debt, operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Free Cash Flow, as used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is calculated to be net cash provided by operating activities (in the amounts of $94 million, $101 million and $110 million for the three months periods ended March 31, 2025, December 31, 2024 and March 31, 2024, respectively (less cash used for investments in property and equipment, net (in the amounts of $111 million, $93 million and $98 million for the three months periods ended March 31, 2025, December 31, 2024 and March 31, 2024, respectively). The term Free Cash Flow is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing, and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP.

    About Tower Semiconductor 
    Tower Semiconductor Ltd. (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor focuses on creating a positive and sustainable impact on the world through long-term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiPho, SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays, integrated power management (BCD and 700V), and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as process transfer services including development, transfer, and optimization, to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor owns one operating facility in Israel (200mm), two in the U.S. (200mm), two in Japan (200mm and 300mm) which it owns through its 51% holdings in TPSCo, shares a 300mm facility in Agrate, Italy with STMicroelectronics as well as has access to a 300mm capacity corridor in Intel’s New Mexico factory. For more information, please visit: www.towersemi.com.

    CONTACT:
    Liat Avraham | Investor Relations | +972-4-6506154 | liatavra@towersemi.com

    Forward-Looking Statements
    This release, as well as other statements and reports filed, stated and published in relation to this quarter’s results, include certain “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, projections and statements with respect to our future business, financial performance and activities. The use of words such as “projects”, “expects”, “may”, “targets”, “plans”, “intends”, “committed to”, “tracking”, or words of similar import, identifies a statement as “forward-looking.” Actual results may vary from those projected or implied by such forward-looking statements and you should not place any undue reliance on such forward-looking statements, which describe information known to us only as of the date of this release. Factors that could cause actual results to differ materially from those projected or implied by such forward-looking statements include, without limitation, risks and uncertainties associated with: (i) demand in our customers’ end markets, (ii) reliance on acquisitions and/or gaining additional capacity for growth, (iii) difficulties in achieving acceptable operational metrics and indices in the future as a result of operational, technological or process-related problems, (iv) identifying and negotiating with third-party buyers for the sale of any excess and/or unused equipment, inventory and/or other assets, (v) maintaining current key customers and attracting new key customers, (vi) over demand for our foundry services resulting in high utilization and its effect on cycle time, yield and on schedule delivery, as well as customers potentially being placed on allocation, which may cause customers to transfer their business to other vendors, (vii) financial results that may fluctuate from quarter to quarter, making it difficult to forecast future performance, (viii) our debt and other liabilities that may impact our financial position and operations, (ix) our ability to successfully execute acquisitions, integrate them into our business, utilize our expanded capacity and find new business, (x) fluctuations in cash flow, (xi) our ability to satisfy the covenants stipulated in our agreements with our debt holders, (xii) pending litigation, (xiii) meeting the conditions set in approval certificates and other regulations under which we received grants and/or royalties and/or any type of funding from the Israeli, US and/or Japan governmental agencies, (xiv) receipt of orders that are lower than the customer purchase commitments and/or failure to receive customer orders currently expected, (xv) possible incurrence of additional indebtedness, (xvi) the effects of global recession, credit crisis and/or unfavorable macro-economic conditions, such as the imposition of regulatory requirements, tariffs, import and export restrictions and other trade barriers and restrictions, including the timing and availability of export licenses and permits, (xvii) our ability to accurately forecast financial performance, which is affected by limited order backlog and lengthy sales cycles, (xviii) possible situations of obsolete inventory if forecasted demand exceeds actual demand when we create inventory before receipt of customer orders, (xix) the cyclical nature of the semiconductor industry and the resulting periodic overcapacity, fluctuations in operating results and future average selling price erosion, (xx) financing capacity acquisition related transactions, strategic and/or other growth or M&A opportunities, including funding Agrate fab’s significant 300mm capacity investments and acquisition or funding of equipment and other fixed assets associated with the capacity corridor transaction with Intel as announced in September 2023, in addition to other capacity and capability expansion plans, such as announced for SiPho and SiGe, and the possible unavailability of such financing and/or the availability of such financing on unfavorable terms, (xxi) operating our facilities at sufficient utilization rates necessary to generate and maintain positive and sustainable gross, operating and net profit, (xxii) the purchase of equipment and/or raw material (including purchases beyond our needs), the timely completion of the equipment installation, technology transfer and raising the funds therefor, (xxiii) product returns and defective products, (xxiv) our ability to maintain and develop our technology processes and services to keep pace with new technology, including artificial intelligence, evolving standards, changing customer and end-user requirements, new product introductions and short product life cycles, (xxv) competing effectively, (xxvi) the use of outsourced foundry services by both fabless semiconductor companies and integrated device manufacturers, (xxvii) our dependence on intellectual property rights of others, our ability to operate our business without infringing others’ intellectual property rights and our ability to enforce our intellectual property against infringement, (xxviii) the Fab 3 landlord’s alleged claims that the noise abatement efforts made thus far are not adequate under the terms of the amended lease due to which he requested a judicial declaration that there was a material non-curable breach of the lease and that he would be entitled to terminate the lease, as well as uncertainties associated with the ability to extend such lease or acquire the real estate and obtain the required local, state and/or other approvals required to be able to continue operations beyond the current lease term, (xxix) retention of key employees and recruitment and retention of skilled qualified personnel, (xxx) exposure to inflation, currency rates (mainly the Israeli Shekel, the Japanese Yen and the Euro) and interest rate fluctuations and risks associated with doing business locally and internationally, as well as fluctuations in the market price of our traded securities, (xxxi) meeting regulatory requirements worldwide, including export, environmental and governmental regulations, as well as risks related to international operations, (xxxii) potential engagement for fab establishment, joint venture and/or capital lease transactions for capacity enhancement in advanced technologies, including risks and uncertainties associated with the Agrate fab and the capacity corridor transaction with Intel as announced in September 2023, such as their qualification schedule, technology, equipment and process qualification, facility operational ramp-up, customer engagements, cost structure, required investments and other terms, which may require additional funding to cover their significant capacity investment needs and other payments, the availability of which funding cannot be assured on favorable terms, if at all, (xxxiii) potential liabilities, cost and other impact due to reorganization and consolidation of fabrication facilities, or cessation of operations, including with regard to our 6 inch facility, (xxxiv) potential security, cyber and privacy breaches, (xxxv) workforce that is not unionized which may become unionized, and/or workforce that is unionized and may take action such as strikes that may create increased cost and operational risks, (xxxvi) the issuance of ordinary shares as a result of exercise and/or vesting of any of our employee equity, as well as any sale of shares by any of our shareholders, or any market expectation thereof, as well as the issuance of additional employee stock options and/or restricted stock units, or any market expectation thereof, which may depress the market value of the Company and the price of the Company’s ordinary shares, and in addition may impair our ability to raise future capital, and (xxxvii) climate change, business interruptions due to floods, fires, pandemics, earthquakes and other natural disasters, the security situation in Israel, global trade “war” and the current war in Israel, including the potential inability to continue uninterrupted operations of the Israeli fab, impact on global supply chain to and from the Israeli fab, power interruptions, chemicals or other leaks or damages as a result of the war, absence of workforce due to military service as well as risk that certain countries will restrict doing business with Israeli companies, including imposing restrictions if hostilities in Israel or political instability in the region continue or exacerbate, and other events beyond our control. With respect to the current war in Israel, if instability in neighboring states occurs, Israel could be subject to additional political, economic, and military confines, and our Israeli facility’s operations could be materially adversely affected. Any current or future hostilities involving Israel or the interruption or curtailment of trade between Israel and its present trading partners, or a significant downturn in the economic or financial condition of Israel, could have a material adverse effect on our business, financial condition and results of operations.

    A more complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this release or which may otherwise affect our business is included under the heading “Risk Factors” in the Company’s most recent filings on Forms 20-F and 6-K, as were filed with the SEC and the Israel Securities Authority. Future results may differ materially from those previously reported. The Company does not intend to update, and expressly disclaims any obligation to update, the information contained in this release.

    (Financial tables follow)

       
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)  
    (dollars in thousands)  
      March 31,   December 31,  
      2025   2024  
    ASSETS        
    CURRENT ASSETS        
    Cash and cash equivalents $ 274,818   $ 271,894  
    Short-term deposits 906,446   946,351  
    Trade accounts receivable 219,496   211,932  
    Inventories 276,072   268,295  
    Other current assets 51,429   61,817  
    Total current assets 1,728,261   1,760,289  
    PROPERTY AND EQUIPMENT, NET 1,346,213   1,286,622  
    OTHER LONG-TERM ASSETS, NET 34,131   33,574  
    TOTAL ASSETS $ 3,108,605   $ 3,080,485  
    LIABILITIES AND SHAREHOLDERS’ EQUITY        
    CURRENT LIABILITIES        
    Short-term debt $ 27,490   $ 48,376  
    Trade accounts payable 118,318   130,624  
    Deferred revenues and customers’ advances 17,233   21,655  
    Other current liabilities 86,421   84,409  
    Total current liabilities 249,462   285,064  
    LONG-TERM DEBT 134,835   132,437  
    OTHER LONG-TERM LIABILITIES 22,293   22,804  
    TOTAL LIABILITIES 406,590   440,305  
    TOTAL SHAREHOLDERS’ EQUITY 2,702,015   2,640,180  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 3,108,605   $ 3,080,485  
             
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
    (dollars and share count in thousands, except per share data)
      Three months ended
      March 31,
    		   December 31,
    		   March 31,
      2025
    		   2024
    		   2024
    REVENUES $ 358,170     $ 387,191     $ 327,238  
    COST OF REVENUES 284,999     300,338     254,632  
    GROSS PROFIT 73,171     86,853     72,606  
    OPERATING COSTS AND EXPENSES:                
    Research and development 20,172     20,622     19,951  
    Marketing, general and administrative 20,101     19,812     18,670  
      40,273     40,434     38,621  
                     
    OPERATING PROFIT 32,898     46,419     33,985  
    FINANCING AND OTHER INCOME, NET 10,598     8,315     3,984  
    PROFIT BEFORE INCOME TAX 43,496     54,734     37,969  
    INCOME TAX BENEFIT (EXPENSE), NET   (3,779 )     (2,149 )   5,078  
    NET PROFIT 39,717     52,585     43,047  
    Net loss attributable to non-controlling interest 425     2,553     1,587  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 40,142     $ 55,138     $ 44,634  
    BASIC EARNINGS PER SHARE $ 0.36     $ 0.49     $ 0.40  
    Weighted average number of shares 111,575     111,493     110,840  
    DILUTED EARNINGS PER SHARE $ 0.35     $ 0.49     $ 0.40  
    Weighted average number of shares 113,152     112,967     111,627  
     
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 40,142     $ 55,138     $ 44,634  
    Stock based compensation and amortization of acquired intangible assets 10,335     11,258     7,209  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 50,477     $ 66,396     $ 51,843  
    ADJUSTED EARNINGS PER SHARE:                
    Basic $ 0.45     $ 0.60     $ 0.47  
    Diluted $ 0.45     $ 0.59     $ 0.46  
                     
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
    CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED)
    (dollars in thousands)
      Three months ended
      March 31,
    		   December 31,
    		   March 31,
      2025
    		   2024
    		   2024
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 271,894     $ 270,979     $ 260,664  
    Net cash provided by operating activities 93,922     100,816     110,038  
    Investments in property and equipment, net   (111,411 )     (93,396 )     (98,018 )
    Debt received (repaid), net   (26,874 )   2,795       (8,409 )
    Effect of Japanese Yen exchange rate change over cash balance 2,817       (4,972 )     (2,665 )
    Proceeds from (investments in) deposits, marketable securities and other assets, net 44,470       (4,328 )     (1,113 )
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 274,818     $ 271,894     $ 260,497  
                     
     TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
    (dollars in thousands)
      Three months ended
        March 31,     December 31,     March 31,
        2025     2024     2024
    CASH FLOWS – OPERATING ACTIVITIES                      
    Net profit for the period $ 39,717     $ 52,585     $ 43,047  
    Adjustments to reconcile net profit for the period                      
    to net cash provided by operating activities:                      
    Income and expense items not involving cash flows:                      
    Depreciation and amortization *   74,228       75,820       59,544  
    Other expense, net   558       12,439       5,993  
    Changes in assets and liabilities:                      
    Trade accounts receivable   (6,354 )     (19,034 )     (6,489 )
    Other current assets   5,622       (36,464 )     (13,454 )
    Inventories   (4,128 )     (3,356 )     (23,703 )
    Trade accounts payable   (11,114 )     18,320       32,559  
    Deferred revenues and customers’ advances   (4,432 )     (8,712 )     (1,931 )
    Other current liabilities   3,718       7,057       16,868  
    Other long-term liabilities   (3,893 )     2,161       (2,396 )
    Net cash provided by operating activities   93,922       100,816       110,038  
    CASH FLOWS – INVESTING ACTIVITIES                      
    Investments in property and equipment, net   (111,411 )     (93,396 )     (98,018 )
    Proceeds from (investments in) deposits, marketable securities and other assets, net   44,470       (4,328 )     (1,113 )
    Net cash used in investing activities   (66,941 )     (97,724 )     (99,131 )
    CASH FLOWS – FINANCING ACTIVITIES                      
    Debt received (repaid), net   (26,874 )     2,795       (8,409 )
    Net cash provided by (used in) financing activities   (26,874 )     2,795       (8,409 )
    EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGE   2,817       (4,972 )     (2,665 )
                           
    INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS   2,924       915       (167 )
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD   271,894       270,979       260,664  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 274,818     $ 271,894     $ 260,497  
     
    * Includes stock based compensation and amortization of acquired intangible assets in the amounts of $10,335, $11,258 and $7,209
    for the 3 months periods ended March 31, 2025, December 31, 2024 and March 31, 2024, respectively.

    The MIL Network –

  • MIL-OSI China: Regular Press Briefing of the Ministry of National Defense on May 8th, 2025 2025-05-14 Senior Colonel Zhang Xiaogang, spokesperson for the Ministry of National Defense (MND) of the People’s Republic of China (PRC), answers recent media queries concerning the military on March 8th, 2025.

    Source: People’s Republic of China – Ministry of National Defense 2

    On the afternoon of May 8th, 2025, Senior Colonel Zhang Xiaogang, Spokesperson for the Ministry of National Defense (MND), answered recent media queries concerning the military.

    Senior Colonel Zhang Xiaogang, spokesperson for the Ministry of National Defense (MND) of the People’s Republic of China (PRC), answers recent media queries concerning the military on May 8th, 2025.  (mod.gov.cn/Photo by Zhang Zhicheng)

    (The following English text is for reference. In case of any divergence of interpretation, the Chinese text shall prevail.)

    Zhang Xiaogang: I have two pieces of information to announce on the top.

    Firstly, in mid-to-late May, the Chinese and Cambodian militaries will hold the “Golden Dragon-2025” joint exercise in Cambodia. Focusing on joint counter-terrorism and humanitarian assistance and disaster relief (HADR) operations, the exercise will be conducted both on land and at sea, as well as in relevant air spaces. Cultural and sports exchanges, and vessel open day activities will also be conducted. This exercise will be the 7th of its kind between the Chinese and Cambodian militaries. It will facilitate practical cooperation between the two sides and contribute to the building of a China-Cambodia all-weather community with a shared future for the new era.

    Secondly, from May 13th to 14th, the Chinese Ministry of National Defense will host the 2025 Shanghai Cooperation Organization (SCO) Military Medicine Seminar in Xi’an. Under the theme of “Building an SCO Community with a Shared Future: Contributions from Military Medicine”, leaders of military health departments and medical experts from countries including Russia, Cambodia and Sri Lanka will attend the event. As the rotating presidency of the SCO this year, China will host multiple events including the SCO Defense Ministers’ Meeting and the Military Medicine Seminar, and actively contribute to building a closer SCO Community with a Shared Future.

    Journalist: It is reported that the “Eagles of Civilization-2025” joint air force training between China and Egypt has recently concluded. Could you please review this joint training and brief us on its features?

    Zhang Xiaogang: From April 17th to May 4th, the air forces of China and Egypt held the first “Eagles of Civilization-2025” joint training at an Egyptian air force base. The Chinese Air Force dispatched J-10C, KJ-500 and YY-20 aircraft to participate. This was the first time that China sent force packages to Africa for joint training, during which the two sides conducted drills on such subjects as air superiority operations, suppression of enemy air defenses (SEAD), battlefield search and rescue, and mixed grouping. Discussions and exchanges on training models, air combat tactics and aerial refueling were also held. This joint training marks a new starting point for the cooperation between the Chinese and Egyptian militaries. It enhanced the technical and tactical competence of the participating troops, and deepened friendship, mutual trust, and practical cooperation between the two militaries. It is also an effective test of the Chinese Air Force’s capabilities in long-range force projection, agile deployment and systemic operations.

    (Video by Yu Hongchun, Jia Chong and Li Kangxi)

    Journalist: NATO recently released its annual report, labeling China as a “systemic challenge” and claiming that the country is rapidly expanding its nuclear arsenal and that its policies pose a threat to the interests, security, and values of NATO member states. What’s your comment on that?

    Zhang Xiaogang: The relevant report by NATO reflects nothing but the Cold War mentality. The hype-up of the so-called “China threat” is in blatant disregard of the facts and simply barking up the wrong tree. China never seeks to challenge or threaten anyone. China’s nuclear policy is highly stable, consistent, and predictable. China unswervingly follows a nuclear strategy of self-defense, with its nuclear forces always kept at the minimum level required for national security.

    In contrast, NATO has been overreaching in recent years, expanding its remit, and interfering in the Asia-Pacific. These actions seriously undermine regional peace and stability. NATO possesses the world’s largest nuclear arsenal through its nuclear-sharing arrangements. Some member states are investing heavily in upgrading their strategic forces and there are plans to pursue nuclear submarine cooperation that would involve the large-scale transfer of weapon-grade nuclear material to non-nuclear-weapon states. Relevant practices constitute a grave violation of the Treaty on the Non-Proliferation of Nuclear Weapons (NPT), severely undermine the international nuclear non-proliferation system, and deal a huge blow to global strategic security and stability. We urge NATO to take a hard look at its own actions instead of making groundless accusations and shifting blame onto others.

    Journalist: It is reported that during the Philippine-U.S. “Balikatan” exercise, the Chinese aircraft carrier Shandong appeared in the waters north of the Philippines. Some analysts believe this might be a response to the Philippine-U.S. military exercise, or to the Philippine patrol vessel’s entering into the waters near Huangyan Dao. Furthermore, the Philippine Navy spokesperson claimed that the Philippine military and Taiwan troops are only one step away from holding joint exercises. What is your comment on this?

    Zhang Xiaogang: The Shandong aircraft carrier task group was conducting its annual training mission in relevant waters to further test and enhance the integrated combat capabilities of the carrier task group. This is in accordance with international law and common practice, and is not directed at any specific country or target.

    Certain individuals in the Philippines are colluding with external forces such as the U.S., to “stir up the sea” for selfish gains, undermining peace and stability in the South China Sea region. They even attempt to play with fire on the Taiwan question. We sternly warn the Philippine side to cease its infringements and provocations, and stop offending China’s core interest in any form. China will continue to take resolute and forceful measures to defend its territorial sovereignty and maritime rights and interests.

    Senior Colonel Zhang Xiaogang, spokesperson for the Ministry of National Defense (MND) of the People’s Republic of China (PRC), answers recent media queries concerning the military on May 8th, 2025.  (mod.gov.cn/Photo by Zhang Zhicheng)

    Journalist: According to reports, the US Secretary of Defense has directed the development of the 2025 National Defense Strategy (NDS), with a particular focus on strengthening deterrence against China in the Indo-Pacific region. Besides, the US military also plans to establish a large storage facility in Subic Bay, the Philippines before 2026, to store weapons, equipment, and logistical supplies. What’s your comment?

    Zhang Xiaogang: To maintain its hegemony and selfish gains, the US has repeatedly made an issue out of China in a vain attempt to turn the Asia-Pacific into a powder keg and reduce certain countries to pawns on the front line. Such actions seriously undermine the security and well-being of peoples across the region. Facts have repeatedly proved that being America’s enemy is dangerous, but being America’s friend can be fatal. We urge the countries concerned not to invite the wolf into the house or willingly become its pawns, and not to undermine the hard-won peace and stability in the Asia-Pacific.

    MIL OSI China News –

  • MIL-OSI Africa: Mauritania Shifts to Private Power with 550 Megawatt (MW) Gas Plant, Bids to Start Within Weeks

    Source: Africa Press Organisation – English (2) – Report:

    PARIS, France, May 14, 2025/APO Group/ —

    Mauritania is accelerating its shift toward a fully privatized power generation model, with bids due in the next two to three weeks for a new independent power plant tied to the Greater Tortue Ahmeyim (GTA) gas project. The country’s Minister of Petroleum and Energy, Mohamed Ould Khaled, made the announcement at the Invest in African Energy 2025 Forum in Paris on Tuesday.

    “All new power generation projects in Mauritania will be private. State-owned companies will no longer be involved in power generation,” said the Minister. He added that two projects currently being developed as IPPs will be fueled by domestic gas and will contribute a combined 550 MW to the national grid over the next couple of years.

    The power sector reform is part of a wider transformation aimed at enabling Mauritania to harness its significant gas and renewable energy resources to power industrialization, expand electricity access and drive inclusive growth.

    “We want to develop large-scale natural gas and renewable energy resources. We want to expand affordable, clean power access to our people and industries and power inclusive economic growth, especially to unleash our mining potential.” 

    Mauritania currently has 57% energy access and aims to achieve full national coverage by 2030, according to the Minister. Gas from the GTA project – shared with Senegal – will play a central role in this transition, supplying enough fuel for a 250 MW combined-cycle power plant in each country during the project’s first phase, he said.

    The Minister described Mauritania as uniquely positioned for energy leadership on the continent and beyond, citing its combination of gas, solar, wind and strategic proximity to Europe. He also highlighted Mauritania’s position as the African leader in green hydrogen project development, backed by newly modernized regulatory frameworks.

    “Mauritania holds the largest pipeline of green hydrogen projects in Africa, which are designed not only to export molecules, but to catalyze industrialization in Mauritania and decarbonize hard-to-abate sectors. We have the potential to produce 12 million tons of green hydrogen production per year, with wind speeds of 10 meters per second and amazing solar.”

    “To support this transformation, we have completely modernized our framework,” the Minister continued. “We have opened up the electricity sector to private investments, introduced a new local content policy, and implemented new PPP and investment codes. Additionally, we have launched Africa’s first green hydrogen code, which provides clarity and long-term stability for investors.”

    Looking ahead, Mauritania’s integrated energy vision includes the expanded development of the BirAllah gas field – another major deepwater discovery – along with subsequent phases of the GTA project to reach 10 million tons of LNG per year, cross-border electricity trade with neighboring countries and further development of its mining sector.

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Thousands of Civil Service roles moved out of London in latest reform to the state

    Source: United Kingdom – Executive Government & Departments

    Press release

    Thousands of Civil Service roles moved out of London in latest reform to the state

    Civil servant roles, including senior leadership, will be relocated to 13 locations across the UK to develop and deliver policy closer to communities

    • Thousands of Civil Servants – including senior leaders – will be based in towns and cities across the UK to work with frontline workers and local leaders.

    • New digital and AI campus in Manchester and energy campus in Aberdeen to turbocharge local talent and expertise in these communities.

    • As part of our Plan for Change to re-wire the state, 11 central London offices will be closed including one of the largest Whitehall buildings – saving £94m per year – as the number of roles in the capital is reduced by 12,000.

    Thousands of civil service jobs will be relocated to 13 towns and cities across the country as part of our Plan for Change.

    The shake up will require more senior and policy roles to be based outside London. This will deliver and develop government policy closer to the communities it affects as part of a more productive and agile state.

    The plans will see officials working closely with frontline workers, facilitating greater understanding of the real issues facing local services and people, and how central government policy can support them.

    Changes will be introduced so talented young people from across the UK are able to progress straight from school or university into the Civil Service and rise all the way up to the most senior roles, without ever having worked in Whitehall.

    Chancellor of the Duchy of Lancaster Pat McFadden, said:

    To deliver our Plan for Change, we are taking more decision-making out of Whitehall and moving it closer to communities all across the UK.

    By relocating thousands of Civil Service roles we will not only save taxpayers money, we will make this Government one that better reflects the country it serves. We will also be making sure that Government jobs support economic growth throughout the country.

    As we radically reform the state, we are going to make it much easier for talented people everywhere to join the Civil Service and help us rebuild Britain.

    As part of the spending review, Chancellor of the Duchy of Lancaster Pat McFadden has written to all departments requiring them to relocate key roles and strengthen the Government’s presence around the UK. 

    Government departments now will submit plans for how many roles they plan to move to each of the locations as part of the spending review.

    Departments will be assessed on their commitments to the programme as part of the spending review. As well as increasing the number of officials working in Greater Manchester and Aberdeen, where two new government campuses will be created, roles will be created in Birmingham, Leeds, Cardiff, Glasgow, Darlington, Newcastle and Tyneside, Sheffield, Bristol, Edinburgh, Belfast and York.

    The changes are projected to bring £729m in local economic benefits to these areas between 2024 and 2030.

    New Regional Government Campuses

    Under the plans and to accelerate the delivery of the Missions, three major new Government campuses will be created. 

    Government campuses involve departments moving skilled roles to the same town or city to boost collaboration – bringing civil servants with different skills and expertise but the same policy or delivery focus, to solve issues and improve services for working people across the country.

    The first two of these, the new Government Digital and AI Innovation Campus and Energy Campus, will be in Manchester and Aberdeen.

    Manchester is already home to the second HQs of DSIT and DCMS, as well as a key base for GCHQ. The new campus will harness the city’s reputation as a global digital hub. 

    Aberdeen is the site of DESNZ’s second HQ, and the new HQ for Great British Energy.

    The new campuses will partner with local government and universities to deliver the government’s missions, improve the talent pipeline into Government and boost growth and opportunity. 

    Supporting Senior Civil Service Careers Outside London

    To ensure those based outside of London have equal professional growth and development opportunities, with full end-to-end careers, the Government will locate 50% of UK-based Senior Civil Servants in regional offices by 2030. 

    This will be supported by a new ambition for the Fast Stream programme to have 50% of placements offered outside of London by 2030, making it increasingly possible for future leaders and managers to progress in their careers without ever needing to work in the capital. 

    A new ‘Career Launch Apprenticeship’ programme will also open for applications this Summer, starting in 2026. The Level 3 Business Administrator apprenticeship programme will train up future civil servants based in Birmingham and Manchester, as well as London. 

    A new secondment scheme will also be developed and launched, in partnership with the Local Government Association, with Civil Servants placed directly with local authorities, building links within regions, and ensuring those delivering policy, experience first hand the work of local government and the services they provide.

    Making Savings in London

    Alongside the relocation of jobs, 11 London office buildings will be closed over the next five years and the number of London based civil servants will reduce by 12,000 by 2030 – down from 95,000 FTE staff to 83,000 – as the government focuses on saving taxpayer money and delivering better public services across all parts of the UK. 

    The move is set to deliver £94 million in savings annually by 2032, by getting rid of large, expensive London real estate. The plans include the closure of two major Westminster government buildings – 102 Petty France, one of the largest government buildings in London and home to 7,000 FTE staff, and 39 Victoria Street – which together cost tens of millions of pounds a year. 

    Updates to this page

    Published 14 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Alexandra Jones, Sally McInnes, Sally Sheard, James Strachan, Aruna Verma and Simon Wessely appointed to the ACNRA Board.

    Source: United Kingdom – Executive Government & Departments

    News story

    Alexandra Jones, Sally McInnes, Sally Sheard, James Strachan, Aruna Verma and Simon Wessely appointed to the ACNRA Board.

    The Secretary of State has appointed 6 Board Members to the Advisory Council on National Records and Archives for four years from 10 March 2025 to 09 March 2029.

    Alexandra Jones

    Alexandra Jones, the Director of Anti-Money Laundering at the Solicitors Regulation Authority, brings a wealth of experience in governance, compliance, and leadership to her role. At the SRA, Alexandra leads the development and implementation of AML policies, ensuring regulatory compliance across the legal sector. Her career spans diverse sectors, including finance and regulation, providing her with a unique perspective on risk management and ethical considerations.

    Before joining the SRA, Alexandra served as CEO of the Registry Trust, where she gained deep insight into legal and ethical issues related to data access, copyright, and privacy. She also held senior roles at the Financial Ombudsman Service and HSBC Bank, where she managed teams while upholding confidentiality and compliance standards. Her leadership experience is complemented by her commitment to professional development, including studying data ethics at the London School of Economics.

    Alexandra’s career reflects a dedication to promoting transparency and integrity. She is motivated by the vision of safeguarding collective heritage and leveraging it as a resource for education and public engagement.

    Sally McInnes

    Sally McInnes was formerly Head of Unique and Contemporary Content at the National Library of Wales. A professionally trained archivist, she has extensive experience in promoting, preserving and providing access to unique content of national significance, as well as policy development within the Welsh cultural sector.

    Sally has a particular interest in managing digital content, as well as improving professional competence in digital preservation, for which she has earned international recognition. As a former Director of the Digital Preservation Coalition, she worked to raise public and institutional awareness of digital preservation issues in Wales and beyond.

    She has played a leading role in a number of national and international professional networks. In recognition of her contribution to recordkeeping, she was awarded an MBE in 2024 for Services to Documentary History. She is a Fellow of the Archives and Records Association.

    Sally Sheard

    Professor Sally Sheard is Executive Dean of the Institute of Population Health at the University of Liverpool, where she also holds the Andrew Geddes and John Rankin Chair of Modern History. She is a health policy analyst and historian, with a research focus on the interface between expert advisers and policymakers. 

    Sally has extensive experience of using history in public and policy engagement, including working with national and local government organisations and health authorities. She has written for and appeared in numerous television and radio programmes. In 2018 she wrote and presented the twenty-part BBC Radio 4 series National Health Stories, to mark the seventieth anniversary of the NHS. Her books include The Passionate Economist: how Brian Abel-Smith shaped global health and social welfare (Policy Press, 2013); Making Genetics and Genomics Policy in Britain: from Personal to Population Health (co-authored with Philip Begley; Routledge, 2022) and NICE: A Contemporary History of the National Institute for Health and Care Excellence (co-authored with Paul Atkinson; Routledge, 2025).

    James Strachan

    James is Chief Executive of Eastleigh Borough Council in south Hampshire, and has been a senior leader in Hampshire local government for 16 years.  In addition to overseeing local services such as waste collection, planning, homelessness support and elections, James is ultimately responsible for information governance at the Council.  Prior to moving to Hampshire, James was Director of Public Services and Marketing at The National Archives, and served as Secretary to the official review of the 30-year rule, which was commissioned by Prime Minister Gordon Brown. 

    James has also worked at the Cabinet Office, and had a career in publishing prior to joining the civil service.  He oversaw the online launch of Encyclopaedia Britannica in Europe and was among the first employees of the mobile network ‘3’, negotiating the first ever mobile highlights deal with the Premier League.  James lives in Salisbury and serves as a magistrate on the West Hampshire Bench, based in Southampton.

    Aruna Verma

    Aruna Verma is a distinguished lawyer, associate professor, and Campus Dean at The University of Law, Moorgate. With a strong background in legal education and practice, she has played a pivotal role in shaping the next generation of legal professionals. As an academic leader, she combines her expertise in law with a passion for teaching, ensuring that students gain both theoretical knowledge and practical skills essential for success in the legal profession.

    Her career spans legal practice, academia, and educational leadership, making her a respected figure in the field. At The University of Law, she oversees academic programs, fosters student engagement, and works closely with industry professionals to bridge the gap between law school and legal practice.

    Beyond academia, Aruna is known for her contributions to legal scholarship, mentorship, and commitment to advancing diversity in the legal profession. Her leadership ensures that the Moorgate campus remains a hub for aspiring solicitors and barristers, preparing them for the challenges of the ever-evolving legal Landscape.

    With her wealth of experience and dedication to legal education, Aruna Verma continues to make a lasting impact on both students and the legal community. Aruna also sits as a Chair at The Valuation Tribunal and the Chair of Governors at a local school. Aruna is a trained mediator and online dispute resolution specialist.

    Simon Wessely

    Sir Simon Wessely FRS is the Regius Chair of Psychiatry at the Institute of Psychiatry, Psychology and Neuroscience (IOPPN), part of King’s College London (KCL), the first such chair in the United Kingdom. He is also a Consultant Liaison Psychiatrist at the Maudsley and King’s College Hospitals.

    After studying medicine and History of Art at Cambridge, he finished his medical training at Oxford. He is an active clinical academic psychiatrist with >1000 publications, a Fellow of the Academy of Medical Sciences and a Fellow of the Royal Society (FRS). He is a Past President of the Royal College of Psychiatrists and the Royal Society of Medicine. He was Dean of the IOPPN (2022-23) and is now a Non Executive Director of NHS-England.

    In 2003 he founded the King’s Centre for Military Health Research, which is now ranked 1st globally for publications on military health. He remains the Honorary Consultant Advisor in Psychiatry to the British Army, and works with several charities for Veterans. He was knighted in 2013 for services to military health and psychological medicine. He continues to have a broad interest in how people and populations react to adversity, past present and future.

    He chaired the government’s Independent Review of the Mental Health Act (2017-19), which should receive Royal Assent at Easter. He also was a member of the Judicial Appointments Commission (2017-23). His amateur interests revolve around history, and he is proud of having written some papers in “proper” history journals. Finally, if you are a follower of “Desert Island Discs” you will know his favourite occupation is arguing in Viennese cafes , perhaps reflecting the fact that his father was born in Central Europe, coming over to the UK in 1939.

    Remuneration and Governance Code

    Board Members will be remunerated at a rate of £386 per day. James Strachan requested not to be remunerated for this role. This appointment has been made in accordance with the Cabinet Office’s Governance Code on Public Appointments.

    The appointments process is regulated by the Commissioner for Public Appointments. Under the Code, any significant political activity undertaken by an appointee in the last five years must be declared. This is defined as including holding office, public speaking, making a recordable donation, or candidature for election. None of the candidates have declared any significant political activity.

    Updates to this page

    Published 14 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: CMA response to the Independent Water Commission’s call for evidence

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    CMA response to the Independent Water Commission’s call for evidence

    The Competition and Markets Authority (CMA) has published its response to the Independent Water Commission’s call for evidence, in relation to the water sector in England and Wales.

    Documents

    CMA response to the Independent Water Commission’s call for evidence

    PDF, 197 KB, 8 pages

    Details

    The CMA responded to the Independent Water Commission’s call for evidence.

    Our response focuses on the CMA’s overall role in the water regulatory system, in particular our role in conducting regulatory appeals and redeterminations.

    Updates to this page

    Published 14 May 2025

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    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Council crackdown on underage vape sales in Tunstall

    Source: City of Stoke-on-Trent

    Published: Wednesday, 14th May 2025

    Stoke-on-Trent City Council is stepping up its crackdown on underage and illegal vape sales after seizing more than £21,000 of illegal cigarettes, tobacco, and vapes from a Tunstall shop.

    It follows the sale of an illegal vape to a 17-year-old girl. The legal limit for vapes is 600 puffs, the one sold was three times over the legal limit.

    Trading Standards officers, supported by Staffordshire Police, visited TKT Express on High Street Tunstall on Friday, 9 May. During the operation, they discovered illegal products hidden in a nearby car linked to the shop. Officers seized 22,360 cigarettes, 6.2kg of tobacco and 290 vapes- all illegal – and with a total retail value of £21,600. The shop is now under formal investigation.

    Councillor Amjid Wazir OBE, cabinet member for city pride, enforcement and sustainability for Stoke-on-Trent City Council, said: “Our teams are taking firm action against shops that put young people at risk. I want to thank our Trading Standards for more hard work that protects all residents and upholds the law.

    “We want our city to be a safe place for children and young people, so the fact that this shop sold an illegal vape to somebody underage shows complete disregard for their safety. We will take action against those who put people at risk and undermine the hard work of legitimate businesses.”

    “I encourage any residents to report any suspicious activity related to illegal tobacco, vapes, or underage sales.”

    Anyone who wants to report a similar issue to Trading Standards can call the Trading Standards Hotline 01782 238444 or visit stoke.gov.uk

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Interactive hub opens to provide support during major city centre transformation works

    Source: City of Wolverhampton

    The ‘Urban Room’ will provide drop in sessions at set times, pre-booked meeting opportunities and direct assistance from staff at City of Wolverhampton Council and contractor, Taylor Woodrow.

    It will give businesses, residents and visitors easy access to information about the scheme and dedicated support for any concerns or issues they have as the 2 and a half year programme, which started in January, progresses.

    The first Urban Room sessions will initially take place between 12pm and 1.30pm on Tuesdays, with the plan to increase the number of sessions over time.

    Works on the major £19 million transformation of Wolverhampton city centre are underway on Darlington Street and will move onto Lichfield Street and Queen Square. It follows extensive consultation with businesses, the public and key stakeholders.

    The completed scheme will deliver high quality improvements such as wider, brighter, safer streets; vibrant public events spaces; more trees, greenery and seating; and easy access for buses, cycles and taxis.

    The aim is to stimulate more visitors and spend with businesses and act as a catalyst for further investment, while contributing to creating a pleasant environment to support and encourage healthy city living lifestyles.

    It is the third and final phase of City of Wolverhampton Council’s city centre improvements programme following completed schemes in the Victoria Street and University of Wolverhampton at The Halls areas that have seen regular events staged in the new spaces, increasing city centre footfall and economic spend and attracting new investment such as Superbowl UK, set to open their new venue in the Mander Centre units off Victoria Street on 21 May.

    Councillor Chris Burden, the council’s Cabinet Member for City Development, Jobs and Skills, said: “We want people to enjoy our city centre from the moment they arrive, and these works are the next step in our transformation plans that are delivering positive outcomes.

    “This is a scheme for everyone, and the Urban Room is another way we are connecting with businesses, residents and visitors to ensure they are supported during the works and fully understand it so they can maximise the opportunities it presents to them.

    “Funded totally by external funding, it will create an enhanced walking, cycling and dwell space, as well as infrastructure for events and attractions, and a better environment for city centre living, which will all help boost the local economy.

    “The works will also complement other transformational development schemes already underway or in the pipeline in the city centre, including the £150 million Interchange and commercial district, and thousands of new homes coming at Smithgate and Canalside – all helping to create hundreds of new jobs and further investment opportunities.”

    Stuart Townsend, Taylor Woodrow Operations Manager, said: “We are excited to announce our drop in sessions for businesses and members of the public to address any queries, concerns, or compliments.

    “During these sessions, we will showcase drawings of the scheme, have updates on our social value projects locally, and we will be displaying information, including a video about the scheme.

    “Additionally, we will provide information about our chosen charities, The Way Youth Project Board, and have brochures available for career opportunities. “This is a positive step in keeping stakeholders and the passing public updated on how we Taylor Woodrow and the council are working together to deliver a better city centre.”

    Funding for the scheme consists of £13.5 million from the City Region Sustainable Transport Settlement (CRSTS) fund, £3 million from the Towns Fund and £2.6 million from the Active Travel Fund.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Aberdeen Youth Movement member attends United Nations forum in New York

    Source: Scotland – City of Aberdeen

    Aberdeen Youth Movement member, Mariah Ichakpa was honoured to be selected to attend the 2025 United Nations Economic and Social Council Youth Forum in New York last month.

    Mariah was 1 out of 20,000 people who applied to be selected to attend the forum that offered young people a visible platform to meaningfully engage with Member States, have their voices heard and be included in the global dialogue on key issues affecting the world’s population.

    Held at the United Nations headquarters, the forum’s theme of ‘youth at the forefront: leveraging science and social inclusion for sustainable development’, allowed Mariah to make a speech to the forum attendees from across the world and her inspired message was ‘If you want to see a nation’s future, look into the eyes of its youth – we are the mirror and the map’.

    Mariah said: “Representing Aberdeen and Scotland was an unforgettable experience. Sharing Scotland’s story and how we became the first part of the UK to incorporate the UN Convention on the Rights of the Child (UNCRC) into Scots law was a huge achievement in helping spread awareness.

    “One of the biggest takeaways for me was that impact doesn’t always have to come from the top down. Youth-led initiatives when supported and given a platform can drive real and measurable change.

    “Leaving New York, I felt inspired. But more than that I felt responsible. We have a lot of work to do. And I’m ready to keep showing up and working alongside other passionate youths in Aberdeen Youth Movement (AYM), Scottish Youth Parliament (SYP) and across the world to make a difference.”

    Councillor Martin Greig, Convenor of Aberdeen City Council’s Education and Children’s Services Committee, said: “I was delighted to hear about Mariah’s incredible experience in New York. She spoke eloquently at the UN Youth Forum to represent young people in our city and on behalf of the rest of Scotland.

    “It is a major achievement to promote youth justice from the local perspective on a global stage. I am grateful to Mariah and to all the team who have given support for this important human rights action.”

    Aberdeen Youth Movement is the official voice of young people in Aberdeen, working closely with multiple organisations to improve the representation of young people in the city. The group consists of young people aged between 16 and 25 from different areas and interest groups.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Manchester Libraries – winner of the Library of the Year Award

    Source: City of Manchester

    Manchester Libraries has won the ‘Library of the Year’ Award at the prestigious British Book Awards 2025 held at Grosvenor House London on Monday, 12th May.

    The revival of the Library of the Year award at this year’s British Book Awards event was awarded to Manchester Libraries in recognition of its multi-strand and city-wide Blue Peter Book Club Live programme which made ‘superb’ use of the revered Blue Peter brand to bring children and families into contact with libraries and reading.

    The programme engaged with people who had never or very rarely visited a library, resulting in an 88% visitor increase compared to a typical Saturday, with 60% of these attendees living in an area of high deprivation. Connecting with readers via local schools, the incentive saw children’s library membership increase by 33% during the campaign compared to the same period in 2023, and 12,308 people become new library members during the campaign period.

    It was launched at a special Book Club Live event at Central Library by the Blue Peter presenters and It engaged with people who had never, or very rarely visited the library. The team also created a badge trail to connect 13 cultural venues, distributed 20,000 trail maps and enlisted local partners to act as champions as part of the event programme which spread across the city.

    Describing the levels of engagement as ‘phenomenal’ the judges also commended the library on the committed team who saw the opportunity to work with Blue Peter and run with it grabbing the attention of children and young people who had never been into that library and kept hold of them afterwards.

    Councillor John Hacking, Executive Member for Skills, Employment and Leisure said:

    “This is a truly phenomenal win. For Manchester Libraries to be crowned Library of the Year at the British Book Awards is just fantastic news for our libraries team who worked so hard to make these events a resounding success.  We are privileged in this city not just have the magnificent Manchester Central Library but numerous neighbourhood libraries that serve their communities, providing literary nourishment as well as a huge array of additional benefits to the communities they serve. We took the opportunity to work with Blue Peter and with thanks to them and all our partners, we delivered an exceptional programme of events which has been recognised at the highest levels .”

    Philip Jones, editor of The Bookseller and chair of judges, said:

    ‘In the Library award’s return year, Manchester Libraries is a truly worthy winner, showing how to use resources, access and breadth to change lives through reading. That it did this at scale, should not be off-putting to other libraries, but rather indicates what can happen when a range of partners pull together. We hope this winner provides a template for others to follow, whatever the size.’

    Karen Napier MBE, CEO, The Reading Agency said:

     ‘Congratulations to Manchester Libraries for winning with their city-wide Blue Peter project. The project drove a huge number of children from areas of high deprivation to the library and many for the first time, opening the doors to so much opportunity and the 33% increase in children’s library membership is a remarkable achievement. I do also want to acknowledge every library service that submitted to the award this year, which demonstrated the innovation at the heart of the sector. Libraries are lighthouses for the future, and spaces where knowledge is curated, truth is protected, and communities are strengthened. They are powerful community hubs, places where everyone is equally rich in access to ideas, creativity, and where the transformative power of reading connects us to worlds beyond our own.’

    Jen Cleary, Director North West, Arts Council England said:

    “Many congratulations to Manchester Libraries on their Library of the Year award for the Blue Peter Book Club Live. It is so important for children to discover the joy of reading and this was a fantastic opportunity to do so on their doorstep and in a fun environment. We’re pleased to have supported the project through our National Lottery Project Grants programme and to see how many children were engaged with it. I hope they are all continuing to enjoy discovering new books at their local library.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Work complete on upgrade for pedestrian zone bollards

    Source: City of Leicester

    WORK to upgrade and extend the network of automatic bollards that surround Leicester’s central pedestrian zone is now complete.

    Over the past few months, the city council has been replacing old automatic bollards and installing additional units in new areas as part of a range of measures to improve pedestrian safety and manage vehicle access in the city centre.

    The new bollards will be lowered to allow vehicles into the pedestrian zone during allowable hours for loading and unloading but will prevent unauthorised vehicles from entering the zone at all other times.

    The automatic bollards are designed to rise immediately after a permitted vehicle has entered the pedestrian zone. This is to prevent tailgating and unauthorised entry. Warning signs and red lights are in place to alert drivers of the risk.

    Eligible residents and businesses based within the zone will need to use a new authentication system with PIN code to gain entry through the new bollards outside of allowable hours.

    Letters detailing the changes have been sent to every residential and business address within the pedestrian zone, advising people of the new access requirements and how to register for authorisation.

    One-time use PIN codes can also be issued to those with legitimate reasons for accessing the zone outside of permitted hours.

    Martin Fletcher, Leicester City Council director of highways, said: “Leicester’s pedestrian zone was established back in 2006, and the infrastructure installed at that time needed renewing or replacing to ensure it continued to be fit for purpose.

    “Over the years, we have also extended the zone to include Church Gate, Haymarket, St Martins, Greyfriars and Hotel Street, so this was also a good opportunity to upgrade and extend the systems we have in place to keep the area secure.

    “By upgrading infrastructure and tightening up access for vehicles to the pedestrian zone, we can more effectively clamp down on those who abuse the system and continue to provide an environment for shopping and leisure activities where people can feel safe.”

    As part of the package of measures, the number of locations where automatic bollards are in place has been increased to ten.

    Existing loading and unloading hours will be strictly enforced, with all delivery vehicles expected to be out of the pedestrian zone by 11am from Sunday to Friday, and by 9am on Saturdays.

    Leicester’s pedestrian zone covers an area that’s about the size of seven-and-a-half football pitches and includes the Highcross and Haymarket shopping centres, the streets around the Clock Tower, and the independent shops and cafes in St Martin’s Square and The Lanes.

    More information about the new measures can be found at www.leicester.gov.uk/bollards

    MIL OSI United Kingdom –

  • MIL-OSI Security: Detectives name victim of murder in Manor House

    Source: United Kingdom London Metropolitan Police

    Detectives have now named an 87-year-old man – much loved by his community – as the victim of a murder in Manor House.

    John Mackey sadly died on Thursday, 8 May after being robbed around 17:53hrs on Tuesday, 6 May in Goodchild Road.

    His family continue to be supported by specialist officers.

    Detective Chief Inspector Mark Rogers, who is leading the investigation, said:

    “John was a proud Irishman and an innocent member of the public, and was walking back home after running errands when he was the victim of this tragic incident.

    “His family tell us he was one of 11 children. He was born in Callan, County Kilkenny, Ireland and moved to London in the 1950s. He was uncle to a remarkable 22 nieces and nephews and a brother to his remaining four siblings, they will all miss him.

    “John’s family describe him as funny and charming. He was a life-long Arsenal fan, who was adored by his family and was loved by his local community.

    “His family will join John on one final trip back to Ireland where he’ll be laid to rest.

    “I would like to reassure the local community that a man has been charged and we are not looking for anyone else in connection with John’s death.”

    Peter Augustine, 58 (25.10.1966), of Green Lanes, Hornsey, was charged on Friday, 10 May, with murder and robbery. He is remanded in custody.

    Anyone with information for the investigation team can contact them on 0208 345 3715 quoting 6012/06MAY. If you wish to remain anonymous please contact CrimeStoppers on 0800 555 111.

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  • MIL-OSI Europe: Remarks by President António Costa at the joint press conference with President of Montenegro Jakov Milatović

    Source: Council of the European Union

    During his visit to the Western Balkans, European Council President António Costa met with the President of Montenegro Jakov Milatović in Podgorica. At the joint press conference, he highlighted that enlargement is crucial for the stability and prosperity of the region, praising Montenegro’s progress towards EU membership. He also stressed the importance of continuing reforms and maintaining good neighborly relations.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Portsmouth Tennis Centre receives national award for inclusive programme

    Source: City of Portsmouth

    Chosen from more than 2,000 nominations across 25 different categories, Portsmouth Tennis Centre was crowned the most inclusive tennis centre in the nation, attaining the prestigious Tennis Opened Up Award.

    Portsmouth Tennis Centre is owned by Portsmouth City Council, and is operated by registered charity and social enterprise BH Live.

    The LTA Tennis Awards recognises the vital work volunteers, coaches, officials, and players contribute to make tennis an enjoyable, safe, and accessible sport for all.

    BH Live’s tennis coaches work closely with the LTA and community partners to deliver an inclusive coaching framework for all.

    Currently more than 400 players attend weekly tennis sessions, including people with head injuries, dementia, Down’s Syndrome and visual impairments. Inclusive sessions are tailored to participants’ individual needs. Adjustments to facilitate play include smaller courts, raised court lines, smaller rackets, foam tennis balls, and games played at a slower pace. The centre is also completely accessible with ramps, automatic electric doors and accessible toilet facilities.

    The team actively encourages more young people to enjoy the game from an early age too. They do this by providing free to attend open days throughout the year for families to have a go at playing games and try out coaching drills. BH Live also funds and delivers coaching sessions to hundreds of school children across the city so they can try out the sport.

    Last year, the team welcomed more than 1,200 attendees to its school holiday camps, with half of the places provided through Portsmouth City Council’s HAF Fun Pompey programme, which is funded by the UK government. The programme providing hot meals and activity spaces for children whose families are in receipt of benefits and eligible for free school meals.

    Portsmouth Tennis Centre was also the LTA Tennis Awards 2023 Hampshire & Isle of Wight winner in the ‘Tennis For All Category’ in recognition for bringing tennis to under-represented groups and communities throughout the city.

    Cllr Lee Hunt, Cabinet Member for Community Safety, Leisure & Sport at Portsmouth City Council said:

    “It is wonderful to see the Portsmouth Tennis Centre’s efforts recognised at a national level with this award, which officially now the most inclusive tennis centre in the nation!

    “Encouraging healthy lifestyles in our communities, and promoting positive physical health is priority for us. We are thrilled that we are able to offer these opportunities for anyone in the city who wants to get involved with tennis, thanks to this collaboration with BH Live.”

    On behalf of BH Live, Macca Neaves, Tennis Manager, shared;

    “We’re thrilled to see our inclusive tennis programme and fantastic facilities recognised. But the real highlight is watching more people walk through our doors and give the sport a try. I’m incredibly proud of our team for their dedication, and deeply grateful to our city partners and customers — they’re the true stars for stepping up and embracing tennis. We hope this inspires even more people to come along, pick up a racket, and get involved.”

    More information about Portsmouth Tennis Centre can be found online at bhliveactive.org.uk/tennis-centre.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Health and Social Care Secretary’s speech on men’s health

    Source: United Kingdom – Executive Government & Departments 2

    Speech

    Health and Social Care Secretary’s speech on men’s health

    Wes Streeting spoke at the launch of the Centre for Policy Research for Men and Boys (CPRMB) on Tuesday 13 May

    It is a genuine pleasure to be here alongside so many friends, people I don’t yet know, but people we want to work with.

    It’s great to have such a wide range of people and organisations represented around the room, who are creating spaces for men to fight loneliness.

    Encouraging open conversations about masculinity and providing positive role models for boys across our country.

    I want to thank you, Richard, for picking up this agenda and helping to force it into the mainstream.

    Society has been slow to wake up to the fact that a lot of men and boys are really struggling today, and you’re playing a big role in correcting that.

    And as you alluded to in your remarks, making sure that this is a mainstream agenda and not one that is surrendered to the margins and the extremes.

    So, I’m looking forward to working with you and your institute as we begin to develop solutions to the inequalities and injustices that men and boys face in our country today.

    The truth is it can be quite tough to be a young man in today’s society.

    Lots of boys, particularly those from working class backgrounds like mine, are falling behind at school and are worried about their futures.

    The proliferation of toxic influences and content on social media is leading a lot of boys astray.

    A lot of content on social media that provided a real challenge for girls in terms of positive body image and what it meant to be a perfect girl or a woman in our society. Those challenges are now applying to men and boys in similar if sometimes different ways.

    And all of this is contributing to a crisis in masculinity.

    Since taking on the health and social care brief in opposition three and a half years ago, I’ve been very outspoken about the fact that it takes seven and a half years for women to receive a diagnosis for a common condition like endometriosis, or that a universal experience like menopause is still treated as if it’s a rare condition affecting alien species.

    And I feel just as enraged about the inequalities in men’s health, frankly.

    Men are living four years less than women.

    The gap widens if you just look at working class communities.

    Men are disproportionately affected by cancer, cardiovascular disease and type two diabetes.

    The tragedy is that many of these conditions are treatable and even preventable.

    Black men are twice as likely to die from prostate cancer as white men.

    And suicide is the number one killer of men under the age of 50, which was a fact so shocking that I nearly fell off my chair when I first heard it and actually asked for the statistic to be checked. And the fact that it’s now more commonly cited should not make the fact itself less shocking or outrageous.

    Nothing frustrates me more than when men’s health and women’s health are pitted in opposition to each other, as if by focusing on men’s health strategy, we are in any way detracting from the work we’re doing on women’s health.

    This is not an either or.

    It very much has to be on hand, and we will address both.

    And it also does a disservice to lots of women in our society, as if somehow women don’t care about their fathers and grandfathers, their brothers, their sons, their nephews, any less than we care about our mothers or grandmothers, our sisters.

    It’s really serious.

    So I actually think that we are all in this together, and we will succeed as a society if we’re working together to tackle the injustices and inequalities that affect men and women.

    There’s a common problem across the NHS that women’s voices are not heard, and women are not listened to.

    When it comes to men, I think the problem is often we’re more reluctant to speak up in the first place.

    One in three men have never had a conversation with a brother, father or grandfather about their health.

    The same number would prefer to suffer in silence than go to the doctor about their mental health.

    So, I think we’ve got to teach men from a young age that it’s okay to feel, to hurt, and to ask for help.

    Doing so doesn’t make you any less of a man.

    And I think that making sure this generation of young men and boys are aware of that fact is how we make them less likely to channel their emotions into anger, aggression, or depression.

    This is all why we’re doing the first ever Men’s Health Strategy.

    I announced this last year at the Emirates Stadium to coincide with Movember, alongside a large number of men’s groups and organisations, charities and men’s health ambassadors.

    It was a great event, but one of the things that came out of it on the day and since has never ceased to amaze me. And that is just how many people said thank you.

    That’s not just because as a politician, it’s rare for someone to say thank you.

    I mean, to be fair, we’ve got to give people something to be grateful about.

    But, actually, I was saying to people, look, you can thank us when we’ve done something.

    All I’ve done is say we’re going to have a strategy.

    We hadn’t even launched the call for evidence at that point.

    So I said, thank you.

    When we’ve done something, when we’ve had an impact and we’ve started to change those statistics and change things about their lives and futures.

    But actually the pushback I got was, no, actually, we’re genuinely grateful because we’ve been fighting for this for so many years and haven’t had a hearing, let alone someone being prepared to launch a call for evidence that will lead to a strategy.

    And that tells us something about the extent to which men’s health has been overlooked, and particularly men’s mental health.

    So we launched our call for evidence for the Men’s Health Strategy in April, and I was about to say, I want to ask everyone who hasn’t responded yet to do so and spread the word further.

    But actually, we have been really overwhelmed and really struck by just how positive and engaged such a large number of organisations have been.

    So, but nonetheless, we want to make sure we engage as many men, as many organisations and as many different types of men and different parts of the country from different communities as we have.

    Which is right.

    We have to look at the data and we will take an evidence-based approach.

    But as we know, statistics paint a picture to an extent but what we also need to do is understand the story that we want to tell.

    We’re talking about the experience of men and boys today and how we’re going to make it so much better, so we could do with more insight as well as data, especially from those grassroots organisations in this room and beyond, in a range of communities across the country, whether on physical health or mental health, whether we’re talking about white men or Black men, whether we’re talking about class inequality as well, which is at the heart of a lot of mental health. Any serious attempt to address mental health must confront these inequalities head on.

    So, we’ve got our work cut out for us. Doing is a lot more important than talking.

    We’ve done the easy bit, in my view.

    We’ve committed to having a strategy to making a difference and making sure that we’re proud of the impact.

    But in order to be successful, this isn’t just a challenge that government can address.

    This is about government playing its part, but working in partnership with civil society, with businesses, with all of us as citizens to try and tackle what are a wide range of challenges and problems facing men and boys.

    And that’s why this gathering is really important to me, the department and the government, because we need to do this with you rather than to you. A with this level of enthusiasm, this level of energy, we genuinely think we can do something impactful that we’ll be able to look back on for the rest of our lives with pride, knowing that we were prepared to confront the problems and the challenges head on, and make sure that boys growing up in this country today, whoever they are, whatever their background, can achieve their fullest potential and look forward to a life well lived, rather than experience the deep anxiety and despair far too many boys in our country are experiencing today.

    So thank you very much in advance.

    Updates to this page

    Published 14 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Construction of the second stage of the Novosibirsk State University campus has crossed the “equator”

    Translation. Region: Russian Federal

    Source: Novosibirsk State University – Novosibirsk State University –

    Construction readiness of the second stage of the campus on the basis of Novosibirsk State University (NGU) is more than 50%. This was reported by the head of the Directorate for the construction of unique objects of the Unified Customer PPC Natalia Zarubina at a press tour that took place on May 14, 2025.

    The public-law company “Single Customer in the Sphere of Construction” acts as the state customer for the work and is responsible for the implementation of the facility.

    — Unified Customer is implementing the second stage of the project. At the moment, the overall readiness of the facilities is 57%. The builders are working according to the established schedule and in 2026 we plan to put all three buildings with a total area of about 40 thousand square meters into operation. Almost three thousand students will have the opportunity to study in new modern buildings, — noted Natalia Zarubina, Head of the Directorate for the Construction of Unique Facilities of the Unified Customer PPC.

    The construction of the campus opens up broad opportunities for the creation of innovative infrastructure that will promote the development of science, technology and education.

    — The development of modern educational infrastructure, including the construction of world-class campuses, is an important area of work for the Russian Construction Complex. We are currently creating such a campus at Novosibirsk State University. The construction is being carried out by the “Single Customer in the Sphere of Construction”. Three academic buildings will be built here. The largest of them, the building for continuous classrooms, is already ready, and the delivery and installation of technological equipment is underway. The construction of two more buildings — the educational and scientific center of the Institute of Medicine and Medical Technologies and the scientific research center — is ongoing. Here, the installation of facades and roofs, internal walls and partitions, external and internal utility networks, as well as finishing work are underway. I am confident that the creation of modern and comfortable conditions for learning will help students and researchers develop Russian science, — said Deputy Prime Minister Marat Khusnullin.

    The building of flow auditoriums was put into operation back in December 2024. Four auditoriums were equipped there, one of which is designed for 400 people, the building houses a scientific library, a student project center, coworking spaces, and a conference hall. In addition, for the convenient movement of students and teachers, an overhead passage with stained glass appeared there. It connects the building with the current educational building of NSU.

    — The cohesive, well-organized work of all specialized structures headed by the regional government yields results: an educational building and a leisure center Specialized educational and scientific center of NSU, as well as the NSU dormitory complex were put into operation.

    The building of flow auditoriums has been put into operation and is preparing to receive students. This is a high-tech multifunctional space. The objects that are located here can be called unique. A scientific library with elements of artificial intelligence and a collection of more than 1 million books. Four flow auditoriums, accommodating about a thousand people, and the auditorium for 400 people will be one of the largest among Novosibirsk universities. The locations in the building will be equipped with technologies of the NSU Artificial Intelligence Center according to the “smart home” principle.

    Construction of two other second-stage campus facilities, the educational and scientific center of the Institute of Medicine and Medical Technologies and the scientific research center of NSU, is continuing at a good pace.

    The project, aimed at creating a scientific and educational environment integrated into the city, will give a completely new dynamic to the development of the university, Akademgorodok and the entire region, commented Deputy Governor of the Novosibirsk Region Irina Manuilova.

    Modern campuses often include not only study spaces, but also recreation areas, coworking spaces, and libraries. According to the university’s rector, Mikhail Fedoruk, the new buildings will have everything necessary for student learning.

    — The building of continuous auditoriums will significantly increase our educational capabilities: about 2 thousand students will be able to study here at the same time. The educational process will begin here in September 2025. The fact that the library will receive a modern building and space is also very important. The total area of the building of continuous auditoriums is about 16 thousand square meters. This is the largest building among the second stage of construction. The commissioning of new buildings will certainly give further impetus to the development of the university in both educational and scientific research, technological terms. Thus, on the basis of the research center, we will develop promising scientific and technological areas. Among them are space instrumentation, new functional materials, platform software solutions in the oil and gas sector, photonics and sensorics, biotechnology and biomedical research, synchrotron-neutron research, advanced areas of applied mathematics (artificial intelligence and big data processing), — emphasized the rector of NSU, academician of the Russian Academy of Sciences Mikhail Fedoruk.

    The campus is being implemented within the framework of the federal project “Creation of a network of modern campuses” and the national project “Youth and Children” on behalf of the President of Russia Vladimir Putin and the Government of the Russian Federation. Currently, three more world-class campuses are being built by the Unified Customer PPC in Yekaterinburg, Kaliningrad and Orel.

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

    MIL OSI Russia News –

  • MIL-OSI Economics: Quinvexcaptial.com: BaFin warns consumers about Quinvex Capital

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The financial supervisory authority BaFin warns offers from Quinvex Capital. According to Their findings, the company, which also operates under the name Quinvex Capital GmbH, offers share recommendations and so-called day trading via various WhatsApp groups using alleged institutional accounts in an app. The unknown operators maintain another website at www.quinvexcapital.net. Contrary to its own claims, Quinvex Capital is not supervised by BaFin. According to the current status of the investigation, there is also no connection with Quinvex Capital, Denver, Colorado, USA.

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin urges caution against stock recommendations in WhatsApp groups.

    In the ‘Recognising financial fraud’ section, you will find the latest warnings from BaFin about unauthorised companies and find out how you can protect yourself from further scams on the financial market.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Change of His Majesty’s Ambassador to Kuwait: Qudsi Rasheed

    Source: United Kingdom – Government Statements

    Press release

    Change of His Majesty’s Ambassador to Kuwait: Qudsi Rasheed

    Mr Qudsi Rasheed OBE has been appointed His Majesty’s Ambassador to The State of Kuwait.

    Mr Qudsi Rasheed OBE has been appointed His Majesty’s Ambassador to The State of Kuwait in succession to Ms Belinda Lewis who will be transferring to another Diplomatic Service appointment.  Mr Rasheed will take up his appointment during September 2025.

    Curriculum vitae

    Full Name: Qudsi Rasheed

    Year Role
    2021 to 2024 Cairo, Deputy Head of Mission
    2020 to 2021    Full Time Language Training (Arabic), FCDO four months as Deputy Director Covid Task Force
    2018 to 2020   FCO later FCDO, Deputy Director Multilateral Policy and Head of Sanctions Unit
    2017 to 2018  Beirut, Head of UK Syria Office
    2014 to 2017 UKRep Brussels, External Relations (Relex) Counsellor
    2011 to 2014   FCO, Legal Adviser, Legal Directorate
    2011 Joined FCO
    2008 to 2011  Barrister (called to the Bar of England and Wales)
    2007 to 2009   UCL and King’s College London, Visiting Lecturer

    Updates to this page

    Published 14 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Uzbekistan to host first meeting of Termez Dialogue on connectivity between Central and South Asia

    Translation. Region: Russian Federal

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

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

    Tashkent, May 14 (Xinhua) — The first meeting of the Termez Dialogue on Central and South Asian Interconnection on the theme “Building a Common Space of Peace, Friendship and Prosperity” will be held in Termez, Uzbekistan, on May 19-21, the Narodnoye Slovo newspaper reported on its website on Wednesday.

    The organizers are reportedly the Institute for Strategic and Interregional Studies under the President of the Republic of Uzbekistan, the Ministry of Foreign Affairs of the Republic of Uzbekistan and the Chamber of Commerce and Industry of the Republic of Uzbekistan.

    “The main goal of the dialogue is to form a multilateral discussion platform for the practical promotion of the special resolution of the UN General Assembly “Strengthening the Connectivity between Central and South Asia”, adopted in 2022 on the initiative of the President of the Republic Shavkat Mirziyoyev,” the statement said.

    The forum participants will reportedly discuss the current state and prospects of interregional cooperation between Central and South Asia. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Delegation of the interim government of Afghanistan left Kabul for Russia

    Translation. Region: Russian Federal

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

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

    KABUL, May 14 (Xinhua) — A high-ranking delegation of the Afghan interim government led by Deputy Prime Minister for Economic Affairs Mullah Abdul Ghani Baradar Akhund left Kabul for Russia on Wednesday to attend the 16th International Economic Forum in Kazan, the National Radio and Television of Afghanistan (RTA) reported.

    The current forum is dedicated to strengthening relations and economic cooperation and development, especially in the areas of trade, investment and regional cooperation, RTA said, adding that the Afghan delegation will hold meetings with officials from different countries on the sidelines of the forum. –0–

    MIL OSI Russia News –

  • MIL-OSI Europe: #iubilaeum2025 – Audience with Participants in the Jubilee of the Eastern Churches

    Source: The Holy See

    #iubilaeum2025 – Audience with Participants in the Jubilee of the Eastern Churches, 14.05.2025
    This morning, in the Paul VI Hall, the Holy Father Leo XIV received in audience the participants in the Jubilee of the Eastern Churches.
    The following is the address delivered by the Pope to the participants in the audience:

    Address of the Holy Father
    Your Beatitudes, Your Eminence, Your Excellencies,
    Dear priests, consecrated men and women,
    Dear brothers and sisters,
    Christ is risen. He is truly risen! I greet you in these words that Eastern Christians in many lands never tire of repeating during the Easter season, as they profess the very heart of our faith and hope. It is very moving for me to see you here during the Jubilee of Hope, a hope unshakably grounded in the resurrection of Jesus Christ. Welcome to Rome! I am happy to be with you and to devote one of the first audiences of my pontificate to the Eastern faithful.
    You are precious in God’s eyes. Looking at you, I think of the diversity of your origins, your glorious history and the bitter sufferings that many of your communities have endured or continue to endure. I would like to reaffirm the conviction of Pope Francis that the Eastern Churches are to be “cherished and esteemed for the unique spiritual and sapiential traditions that they preserve, and for all that they have to say to us about the Christian life, synodality, and the liturgy. We think of early Fathers, the Councils, and monasticism… inestimable treasures for the Church (Address to Participants in the Meeting of Aid Agencies for the Oriental Churches [ROACO], 27 June 2024).
    I would also like to mention Pope Leo XIII, the first Pope to devote a specific document to the dignity of your Churches, inspired above all by the fact that, in his words, “the work of human redemption began in the East” (cf. Apostolic Letter Orientalium Dignitas, 30 November 1894). Truly, you have “a unique and privileged role as the original setting where the Church was born” (SAINT JOHN PAUL II, Orientale Lumen, 5). It is significant that several of your liturgies – which you are now solemnly celebrating in Rome in accordance with your various traditions – continue to use the language of the Lord Jesus. Indeed, Pope Leo XIII made a heartfelt appeal that the “legitimate variety of Eastern liturgy and discipline… may redound to the great honor and benefit of the Church” (Orientalium Dignitas). His desire remains ever timely. In our own day too, many of our Eastern brothers and sisters, including some of you, have been forced to flee their homelands because of war and persecution, instability and poverty, and risk losing not only their native lands, but also, when they reach the West, their religious identity. As a result, with the passing of generations, the priceless heritage of the Eastern Churches is being lost.
    Over a century ago, Leo XIII pointed out that “preserving the Eastern rites is more important than is generally realized”. He went so far as to decree that “any Latin-Rite missionary, whether a member of the secular or regular clergy, who by advice or support draws any Eastern-Rite Catholic to the Latin Rite” ought to be “dismissed and removed from his office” (ibid). We willingly reiterate this appeal to preserve and promote the Christian East, especially in the diaspora. In addition to establishing Eastern circumscriptions wherever possible and opportune, there is a need to promote greater awareness among Latin Christians. In this regard, I ask the Dicastery for the Eastern Churches – which I thank for its work – to help me to define principles, norms, and guidelines whereby Latin Bishops can concretely support Eastern Catholics in the diaspora in their efforts to preserve their living traditions and thus, by their distinctive witness, to enrich the communities in which they live.
    The Church needs you. The contribution that the Christian East can offer us today is immense! We have great need to recover the sense of mystery that remains alive in your liturgies, liturgies that engage the human person in his or her entirety, that sing of the beauty of salvation and evoke a sense of wonder at how God’s majesty embraces our human frailty! It is likewise important to rediscover, especially in the Christian West, a sense of the primacy of God, the importance of mystagogy and the values so typical of Eastern spirituality: constant intercession, penance, fasting, and weeping for one’s own sins and for those of all humanity (penthos)! It is vital, then, that you preserve your traditions without attenuating them, for the sake perhaps of practicality or convenience, lest they be corrupted by the mentality of consumerism and utilitarianism.
    Your traditions of spirituality, ancient yet ever new, are medicinal. In them, the drama of human misery is combined with wonder at God’s mercy, so that our sinfulness does not lead to despair, but opens us to accepting the gracious gift of becoming creatures who are healed, divinized and raised to the heights of heaven. For this, we ought to give endless praise and thanks to the Lord. Together, we can pray with Saint Ephrem the Syrian and say to the Lord Jesus: “Glory to you, who laid your cross as a bridge over death… Glory to you who clothed yourself in the body of mortal man, and made it the source of life for all mortals” (Homily on our Lord, 9). We must ask, then, for the grace to see the certainty of Easter in every trial of life and not to lose heart, remembering, as another great Eastern Father wrote, that “the greatest sin is not to believe in the power of the Resurrection” (SAINT ISAAC OF NINEVEH, Sermones ascetici, I, 5).
    Who, better than you, can sing a song of hope even amid the abyss of violence? Who, better than you, who have experienced the horrors of war so closely that Pope Francis referred to you as “martyr Churches” (Address to ROACO, ibid.)? From the Holy Land to Ukraine, from Lebanon to Syria, from the Middle East to Tigray and the Caucasus, how much violence do we see! Rising up from this horror, from the slaughter of so many young people, which ought to provoke outrage because lives are being sacrificed in the name of military conquest, there resounds an appeal: the appeal not so much of the Pope, but of Christ himself, who repeats: “Peace be with you!” (Jn 20:19, 21, 26). And he adds: “Peace I leave you; my peace I give to you. I do not give it to you as the world gives it” (Jn 14:27). Christ’s peace is not the sepulchral silence that reigns after conflict; it is not the fruit of oppression, but rather a gift that is meant for all, a gift that brings new life. Let us pray for this peace, which is reconciliation, forgiveness, and the courage to turn the page and start anew.
    For my part, I will make every effort so that this peace may prevail. The Holy See is always ready to help bring enemies together, face to face, to talk to one another, so that peoples everywhere may once more find hope and recover the dignity they deserve, the dignity of peace. The peoples of our world desire peace, and to their leaders I appeal with all my heart: Let us meet, let us talk, let us negotiate! War is never inevitable. Weapons can and must be silenced, for they do not resolve problems but only increase them. Those who make history are the peacemakers, not those who sow seeds of suffering. Our neighbours are not first our enemies, but our fellow human beings; not criminals to be hated, but other men and women with whom we can speak. Let us reject the Manichean notions so typical of that mindset of violence that divides the world into those who are good and those who are evil.
    The Church will never tire of repeating: let weapons be silenced. I would like to thank God for all those who, in silence, prayer and self-sacrifice, are sowing seeds of peace. I thank God for those Christians – Eastern and Latin alike – who, above all in the Middle East, persevere and remain in their homelands, resisting the temptation to abandon them. Christians must be given the opportunity, and not just in words, to remain in their native lands with all the rights needed for a secure existence. Please, let us strive for this!
    Thank you, dear brothers and sisters of the East, the lands where Jesus, the Sun of Justice, dawned, for being “lights in our world” (cf. Mt 5:14). Continue to be outstanding for your faith, hope, and charity, and nothing else. May your Churches be exemplary, and may your Pastors promote communion with integrity, especially in the Synods of Bishops, that they may be places of fraternity and authentic co-responsibility. Ensure transparency in the administration of goods and be signs of humble and complete dedication to the holy people of God, without regard for honors, worldly power or appearance. Saint Symeon the New Theologian used an eloquent image in this regard: “Just as one who throws dust on the flame of a burning furnace extinguishes it, so the cares of this life and every kind of attachment to petty and worthless things destroy the warmth of the heart that was initially kindled” (Practical and Theological Chapters, 63). Today more than ever, the splendor of the Christian East demands freedom from all worldly attachments and from every tendency contrary to communion, in order to remain faithful in obedience and in evangelical witness.
    I thank you for this, and in cordially giving you my blessing, I ask you to pray for the Church and to raise your powerful prayers of intercession for my ministry. Thank you!

    MIL OSI Europe News –

  • MIL-OSI Russia: Yuri Trutnev: The future of not only Russia, but the entire world depends on the development of the Arctic

    Translation. Region: Russian Federal

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

    On the eve of the government hour, Deputy Prime Minister and Presidential Plenipotentiary Representative in the Far Eastern Federal District Yuri Trutnev and Minister for the Development of the Far East and Arctic Alexey Chekunkov took part in a joint meeting of the State Duma committees on the topic “On current issues of socio-economic and infrastructural development of the Arctic zone of the Russian Federation.” Representatives of legislative and executive authorities of the Arctic regions took part in the event via videoconference.

    Yuri Trutnev and Minister for the Development of the Far East and the Arctic Alexey Chekunkov took part in a joint meeting of the State Duma committees on the topic “On current issues of socio-economic and infrastructural development of the Arctic zone of the Russian Federation”

    May 14, 2025

    Yuri Trutnev and Minister for the Development of the Far East and the Arctic Alexey Chekunkov took part in a joint meeting of the State Duma committees on the topic “On current issues of socio-economic and infrastructural development of the Arctic zone of the Russian Federation”

    May 14, 2025

    Yuri Trutnev and Minister for the Development of the Far East and the Arctic Alexey Chekunkov took part in a joint meeting of the State Duma committees on the topic “On current issues of socio-economic and infrastructural development of the Arctic zone of the Russian Federation”

    May 14, 2025

    Yuri Trutnev and Minister for the Development of the Far East and the Arctic Alexey Chekunkov took part in a joint meeting of the State Duma committees on the topic “On current issues of socio-economic and infrastructural development of the Arctic zone of the Russian Federation”

    May 14, 2025

    Yuri Trutnev and Minister for the Development of the Far East and the Arctic Alexey Chekunkov took part in a joint meeting of the State Duma committees on the topic “On current issues of socio-economic and infrastructural development of the Arctic zone of the Russian Federation”

    May 14, 2025

    Previous news Next news

    Yuri Trutnev and Minister for the Development of the Far East and the Arctic Alexey Chekunkov took part in a joint meeting of the State Duma committees on the topic “On current issues of socio-economic and infrastructural development of the Arctic zone of the Russian Federation”

    “For us, contact and communication with parliamentarians are of great importance. Many of the deputies work in the territories, communicate with people, solve issues of enterprise development and solve people’s problems that arise every day. We value both our joint legislative work and work with people in the territories. We are always ready for contact, discussion, and search for new solutions,” Yuri Trutnev opened the meeting.

    Five years ago, the head of state approved strategic documents for the development of the Arctic zone of Russia: the Fundamentals of the State Policy of the Russian Federation in the Arctic and the Strategy for the Development of the Arctic Zone and Ensuring National Security until 2035. Over the past period, with the participation of State Duma deputies, a regulatory framework for the development of the Arctic has been created: 16 federal laws, 7 decrees of the President and 75 acts of the Government.

    “The Arctic zone of the Russian Federation, as well as the Far Eastern Federal District, by decision of the President of the Russian Federation Vladimir Vladimirovich Putin, are defined as geostrategic territories, on the development of which depends the future of not only Russia, but also the entire world. The richest reserves of minerals, which make up a significant share of the all-Russian, and in some respects of the world, the Northern Sea Route, the military-strategic potential determine the importance of the region for the economy and defense capability of the country, and form an increased interest in the Arctic of the international community,” said Yuri Trutnev.

    Complex production projects are being implemented in the Arctic zone, high-tech enterprises and liquefied natural gas plants are being built, modern research stations and floating nuclear power plants are being created, and new nuclear icebreakers are being laid down at shipyards. “All of this is the result of the great work of people living in the Arctic. Those who live in Murmansk and Arkhangelsk, Norilsk and Naryan-Mar, Anadyr and Salekhard,” emphasized Yuri Trutnev.

    “The Arctic is a geostrategic territory of global scale. It is one of the key economic engines of Russia’s development. Today, the Arctic already produces 7.5% of the gross domestic product and 11% of Russia’s exports. The world’s largest zone with special conditions for doing business has been created. Our central task is to ensure such conditions for the life and work of people in the Arctic so that all plans for the development of the macroregion come true. Plans in which leading Russian companies are currently investing more than 35 trillion rubles. As the projects that have already begun are implemented, the importance of the Arctic in the economy, logistics and ensuring Russia’s national security will only increase,” noted Alexey Chekunkov, Minister for the Development of the Far East and the Arctic.

    “Russia is the leading Arctic power. Our country has a historical right to this title and, despite everything, consistently increases its presence in this region. This is our direct duty to our ancestors and descendants. After all, the basis of the historical conquest and development of the Russian Arctic was the heroic and selfless work of our compatriots. These are the expeditions of Toll, Sedov, Papanin, Schmidt, our respected, legendary polar explorer Artur Nikolaevich Chilingarov and others. All those whose work created the basis for the growth of our geostrategic advantage and economic potential. And today the determining geopolitical, economic, transport, environmental role of Russia in the Arctic should be recognized by the entire world community,” noted Nikolai Kharitonov, Chairman of the State Duma Committee for the Development of the Far East and the Arctic.

    An important part of the development of the Arctic economy has become the work to attract investment. The world’s largest special economic zone has been created. Attention is paid to the social sphere. Thanks to national projects and a single presidential subsidy, social infrastructure is being modernized in the Arctic: hospitals, clinics, schools, kindergartens, and gyms are being built. Decisions have been made to create new university campuses in Murmansk and Arkhangelsk. Developers are receiving support. Northerners can improve their housing conditions thanks to preferential Arctic mortgages. By decision of Russian President Vladimir Putin, master plans have been developed for 16 key Arctic settlements.

    International cooperation and development of the Northern Sea Route were discussed. Environmental issues were considered, including the elimination of landfills, abandoned industrial buildings, and accumulated hazardous waste. Attention was paid to the implementation of a program to support traditional economic activities of the indigenous peoples of the North.

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  • MIL-OSI Russia: Financial news: Citizens in 2024 became more interested in credit histories

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    The number of credit reports received by citizens in 2024 increased by 38%, and information about individual credit ratings increased by 22%.

    During this time, users of credit histories (banks, microfinance organizations and other organizations) were provided with 29% more reports than a year earlier.

    Demand for BKI services from MFIs is growing against the backdrop of an increase in the share of online loans in issuances. Over the year, services for providing them with a credit assessment (scoring) have grown by 40%.

    Information from a credit report allows lenders to reduce the volume of overdue debt in their portfolio – to issue funds to more solvent borrowers. According to the calculations of the Bank of Russia, every ruble spent on a credit report can reduce overdue debt by more than 200 rubles.

    For more detailed information, please see“Analytical review of the credit information system based on the results of 2024”.

    Preview photo: Irina Boldina / Shutterstock / Fotodom

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    HTTPS: //vv. KBR.ru/Press/Event/? ID = 24598

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  • MIL-OSI Russia: Financial news: 05/14/2025, 12:31 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A106TV7 (VimpelK3R4) were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    05/14/2025 12:31

    In accordance with the Methodology for determining the risk parameters of the stock market and the deposit market of PJSC Moscow Exchange by NCO NCC (JSC), on 14.05.2025, 12-31 (Moscow time), the values of the upper limit of the price corridor (up to 81.17) and the range of market risk assessment (up to 872.73 rubles, equivalent to a rate of 18.75%) of the security RU000A106TV7 (VimpelK3R4) were changed

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

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  • MIL-OSI Russia: Yuri Trutnev: The main theme of the EEF-2025 is “The Far East – cooperation for peace and prosperity”

    Translation. Region: Russian Federal

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

    The main theme of the Eastern Economic Forum 2025, which will take place on September 3–6 in Vladivostok, will be “The Far East – Cooperation for Peace and Prosperity.” The organizer of the EEF is the Roscongress Foundation.

    “The Eastern Economic Forum is an opportunity to discuss economic, political and social issues not only in Russia but also throughout the world. This is the most important platform for developing cooperation in the Asia-Pacific region. The main theme of the forum this year is “The Far East: Cooperation for Peace and Prosperity”. Without cooperation, without mutually beneficial partnership, development is impossible. Unfortunately, we see what is happening in the modern world: unfounded political ambitions of some neighboring countries harm business interaction, humanitarian and scientific areas. But Russia is still open to cooperation. Preferential regimes are in effect in the Far East. Foreign investors have become residents of the territories of advanced development, the free port of Vladivostok. Now we are creating a new shell – an international territory of advanced development, which will give domestic and foreign partners mutually beneficial opportunities to strengthen the economies of our countries. Another area of interaction is the Northern Sea Route, the shortest transport corridor between Europe and the Far East. We will discuss these and other topics at the forum,” said Deputy Prime Minister – Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yuri Trutnev.

    The main theme reflects the fundamental principles on which the Eastern Economic Forum is based, noted Anton Kobyakov, Advisor to the President of Russia and Executive Secretary of the Organizing Committee for the preparation and holding of the EEF.

    “The anniversary, tenth Eastern Economic Forum will be held in 2025. Over the years, the EEF has established itself as an authoritative platform for the formation of models of mutually beneficial partnership in the Asia-Pacific region. The main theme of the upcoming forum reflects the value of equal international dialogue and peaceful coexistence as the foundations of sustainable development. At the same time, the special role of the EEF is to harmonize global economic trends with the tasks of socio-economic growth of the Russian Far East. I am confident that the forum will once again become an effective platform for developing solutions in key strategic areas that will become the basis for the prosperity of the macro-region,” Anton Kobyakov emphasized.

    The Eastern Economic Forum 2025 will be held on the campus of the Far Eastern Federal University.

    The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of national and international congress, exhibition, business, public, youth, sporting, and cultural events, created in accordance with the decision of the President of Russia.

    The Foundation was established in 2007 to promote the development of economic potential, advance national interests and strengthen Russia’s image. The Foundation comprehensively studies, analyses, formulates and covers issues on the Russian and global economic agenda. Provides administration and facilitates the promotion of business projects and the attraction of investments, promotes the development of social entrepreneurship and charitable projects.

    The Foundation’s events bring together participants from 209 countries and territories, more than 15,000 media representatives work annually at Roscongress venues, and more than 5,000 experts in Russia and abroad are involved in analytical and expert work.

    The Foundation interacts with UN structures and other international organizations. It develops multi-format cooperation with 212 foreign economic partners, associations of industrialists and entrepreneurs, financial, trade and business associations in 86 countries of the world, with 293 Russian public organizations, federal and regional executive and legislative bodies of the Russian Federation.

    Official telegram channels of the Roscongress Foundation: in Russian – T.Ta/Roscongress, in English – T.Ta/Roscongress, in Spanish – T.Ta/RoscongressP, in Arabic – T.Ta/Roscongressarabik. Official website and information and analytical system of the Roscongress Foundation: Roscongress.

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  • MIL-OSI Russia: Financial news: 05/14/2025, 10:46 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the RU000A0JWHU2 security (RZhD BO-17) were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    05/14/2025 10:46

    In accordance with the Methodology for determining the risk parameters of the stock market and the deposit market of PJSC Moscow Exchange by NCO NCC (JSC), on 14.05.2025, 10-46 (Moscow time), the values of the upper limit of the price corridor (up to 91.45) and the range of market risk assessment (up to 1037.26 rubles, equivalent to a rate of 20.0%) of the security RU000A0JWHU2 (RZhD BO-17) were changed

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    HTTPS: //VVV. MEEX.K.MOM/N90212

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  • MIL-OSI Russia: To the participants and guests of the XX All-Russian Forum “The Health of the Nation is the Basis for Russia’s Prosperity”

    Translation. Region: Russian Federal

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

    The anniversary forum is taking place in Moscow from May 14 to 16.

    Dear friends!

    I welcome you to Moscow at the 20th All-Russian Forum “The Health of the Nation – the Basis for Russia’s Prosperity”.

    Saving the people, preserving the health of Russians are the priorities of state policy. The basis of a prosperous life for every person. Your close attention to this socially significant topic deserves sincere respect.

    The forum is being held in the Year of the Defender of the Fatherland and the celebration of the 80th anniversary of the Great Victory. The focus of professional associations and the business community is on a number of important issues, including mechanisms for creating conditions for a long and active life for our citizens, the introduction of modern technologies in the industry, and the formation of a health culture. And also social support and comprehensive rehabilitation of participants in a special military operation and their families.

    I hope that the Forum will contribute to the development of effective solutions and strategies in the healthcare sector. And the recommendations prepared by you will find wide practical application.

    I wish the participants fruitful work, constructive communication and new successes.

    M. Mishustin

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  • MIL-OSI Russia: Financial news: 05/14/2025, 10:27 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A10AQC0 (IADOM 1P51) were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    05/14/2025 10:27

    In accordance with the Methodology for determining the risk parameters of the stock market and the deposit market of PJSC Moscow Exchange by NCO NCC (JSC) on 14.05.2025, 10-27 (Moscow time), the values of the upper limit of the price corridor (up to 84.47) and the range of market risk assessment (up to 897.6 rubles, equivalent to a rate of 31.25%) of the security RU000A10AQC0 (IADOM 1P51) were changed

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  • MIL-OSI Russia: Financial news: 05/14/2025, 10-16 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the RU000A10AUY6 (VEB2R-K600) security were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    05/14/2025 10:16

    In accordance with the Methodology for determining the risk parameters of the stock market and the deposit market of PJSC Moscow Exchange by NCO NCC (JSC) on 14.05.2025, 10-16 (Moscow time), the values of the upper limit of the price corridor (up to 108.05) and the range of market risk assessment (up to 1125.72 rubles, equivalent to a rate of 11.25%) of the security RU000A10AUY6 (VEB2R-K600) were changed

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

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    HTTPS: //VVV. MEEX.K.M.M.

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