NewzIntel.com

Category: Europe

  • MIL-OSI China: Chinese language proficiency competition held in Malta

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

    Six students from the University of Malta showcased their Chinese language skills and talents on Wednesday during the Maltese leg of the 24th “Chinese Bridge” Chinese proficiency competition for foreign university students.

    The event, held at the university and organized by the Confucius Institute, provided a platform for students to express their passion for the Chinese language and share their dreams of visiting China.

    Following their speeches delivered in Chinese, participants demonstrated talents, such as singing Chinese songs, playing Chinese music with piano or flute, performing shadow puppetry or reading a Chinese poem. The performances captivated the audience, who responded with enthusiastic applause.

    Marie Claire Aquilina won the first prize in the competition and will travel to China to represent the University of Malta in the global finals. Aquilina is currently pursuing a master’s degree in translation and hopes to one day work as a translator between Chinese and Maltese, or become a Chinese language teacher.

    Second-place winner Matilde Ferrario would also have the opportunity to visit China. “Knowing Chinese will help me a lot with my future job hunting,” said Ferrario, who hopes to pursue a career in tourism.

    Dennis Mizzi, foreign director of the Confucius Institute at the University of Malta, expressed hope that more students would take up the study of Chinese. 

    MIL OSI China News –

  • MIL-OSI China: Belgrade honors Chinese journalists killed in 1999 NATO bombing on 26th anniversary

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

    Wreaths and white roses were laid on Wednesday at a memorial plaque in Belgrade to honor three Chinese journalists killed in the 1999 NATO bombing of the Chinese Embassy, as Serbia and China marked the 26th anniversary of the event.

    The commemoration was held at the China Cultural Center in Belgrade, constructed on the site of the former embassy in New Belgrade. Leading the tribute were Serbian Minister of Labour, Employment, Veteran and Social Affairs Milica Djurdjevic Stamenkovski and Chinese Ambassador to Serbia Li Ming.

    Stamenkovski emphasized that the anniversary serves as a solemn reminder of the innocent lives lost and a symbol of the enduring friendship between the two nations.

    “Let today be a reminder of our shared suffering, but also of the strength of our alliance,” she said. “Only together, united and respecting the choices and will of all peoples, will Serbia and China continue to strengthen their partnership for mutual benefit, in service of our national interests, stability, prosperity, and justice.”

    She described the May 7, 1999, bombing on the Chinese Embassy as a crime committed against China and its people, stressing that it violated the foundations of the UN Charter and numerous international conventions.

    Stamenkovski also expressed pride in Serbia’s role as China’s first free trade partner in Central and Eastern Europe, and the first European country to elevate bilateral ties to the highest level.

    Ambassador Li condemned the airstrike as a grave violation of international law and remembered the journalists Shao Yunhuan, Xu Xinghu, and Zhu Ying, who lost their lives in the attack. More than 20 Chinese diplomats were also injured.

    He recalled that NATO, under U.S. leadership, launched a 78-day bombing campaign under the pretext of humanitarianism, causing the deaths of over 2,000 civilians, injuring more than 6,000, and displacing nearly one million people.

    Li described the bombing as a blow to both Chinese and Serbian sovereignty, but emphasized that the two nations have responded with resilience and have made joint progress since then.

    Contrasting the destruction of war with today’s flourishing bilateral ties, Li highlighted how the two countries are now focused on rebuilding and revitalization. He also underscored the strength of their 70-year friendship.

    Also present at the ceremony were Belgrade Deputy Mayor Vesna Vidovic, representatives from the Serbian Journalists’ Association, the Veterans’ Association, Chinese enterprises and local residents. They joined in laying flowers in remembrance of the victims.

    On May 7, 1999, the clearly marked Chinese Embassy in Belgrade was attacked by NATO missiles during the military alliance’s bombing campaign against then Federal Republic of Yugoslavia. The attack destroyed both the main and auxiliary buildings of the embassy. A memorial plaque was installed at the site in 2009 to honor the victims. 

    MIL OSI China News –

  • MIL-OSI New Zealand: Speech at the AML Summit 2025

    Source: NZ Music Month takes to the streets

    Good morning and a warm welcome to everyone, it’s a pleasure to be here.

    Let me start by thanking AML Solutions for giving me the opportunity to speak on the 10th anniversary of the AML Summit. 

    I know you have a busy and interesting schedule to look forward to over the next couple of days.  This year’s conference theme is aptly named “The evolution of Risk”.  I understand that the presentations will focus on supporting reporting entities to understand what best-practice compliance looks like under a reformed risk-based and flexible AML/CFT system. 

    This theme is future-focused – and touches on issues I have spent a lot of time thinking about and planning for since becoming responsible for the AML/CFT portfolio in my role as Associate Minister of Justice. 

    You will likely know that last year Cabinet approved my plans for an AML/CFT reform programme.  The objectives of legislative reform are to meet the objectives this government committed to in our coalition agreement: and that is to tackle organised crime and cut red tape.

    How can New Zealand reform AML/CFT regulation to reduce burden on industry and support a common-sense approach to compliance; while still ensuring we are well placed to tackle organised crime and protect our international reputation as a trusted place to do business? 

    How do we equip ourselves to deal with new and emerging challenges and threats in this space?  How can we harness new technologies to help us fight crime more effectively and make it easier and cheaper for businesses to defend themselves against money laundering? 

    How will we ensure that we, as a country, are doing our part in this inherently global fight – in a fractious world where the nexus of organised crime and international conflicts is growing? 

    Over the last year I have taken advice and considered many of the challenges facing the sector in detail.  Many of you in this room, or online, will have been involved in and contributed to this advice.  I am so grateful for your hard work and specialist contributions.  Your expertise is invaluable – it enables robust discussion and informed decision-making. 

    Now is the time to deliver on our coalition commitments.  The Act has now been in force for 11 years and we know the current system is not delivering as well as it could for New Zealanders, businesses, or for law enforcement. 

    This is because the laws and requirements are highly complex and not sufficiently risk based.  As a result, they can be repetitive and unnecessarily burdensome.  I have heard from many New Zealanders that the requirements are confusing, obstructive, and costly.

    Some of the examples they have given me illustrate how absurd these requirements can be. I ’ve heard from mothers who’ve told me they cannot open bank accounts for their child unless they are able to prove where their child lives. I’ve heard from elderly widows, who had relied on their husbands to take care of bills and are now unable to have a bank account in their own name because they have no written proof to say they live in their own home.  These are clear indications of how the system is failing to take a properly risk-based approach.

    Multiple reviews of the current system have also identified deficiencies that make it harder for the system to effectively deter and combat the criminal activity that we know is taking place in New Zealand. 

    At New Zealand’s latest mutual evaluation, the Financial Action Task Force (FATF) reported on several strengths in the New Zealand system but also highlighted that there is room for significant improvement. 

    I know you will be aware that compliance with international standards is incredibly important for New Zealand’s global reputation and financial standing.  We know that FATF recommendations are now tougher, and that there are still many actions from our last evaluation that we need to address.  Regulatory reform is needed to ensure we do well at our next evaluation. 

    But let’s not belabour what we already know about the deficiencies. Let’s instead focus on opportunities for the future and what we can achieve through this reform programme.  To me, reform presents a great opportunity to enhance the strengths of our system, and to address identified concerns. 

    We know, for example, that the wider Financial Crime Group do excellent work, especially relating to asset recovery.  We only need to cast our eyes to very recent news stories – I’m thinking of the announcement last September of the highly successful operation against the Comanchero gang which saw $5.8 million worth of assets restrained – to know law enforcement across the system is working hard and achieving remarkable successes through their work.  A look at the latest Police annual report shows that over $72 million of assets were restrained from organised and financial crime, and 379 money laundering investigations resulted in prosecution.

    We also know there is sound domestic cooperation and coordination on monitoring possible terrorist financing – the FATF told us so, at our latest mutual evaluation. 

    The FATF have also noted that we are known internationally for our high-quality responsiveness to cooperation requests. 

    In other words, New Zealand already does lots of things well.  Our focus is therefore on improving the AML/CFT system to enhance these strengths.  Let’s enable the system and its actors to achieve the intended outcomes: to detect and deter money laundering and terrorism financing.

    This Government is about quality regulation.  We want regulation that achieves intended outcomes, regulation that makes sense and is workable for all.  This means getting rid of unnecessary red-tape– if regulation isn’t providing the results we are after, there is no point to it. 

    In the case of the AML/CFT system, regulation needs to contribute to the fundamental purpose of the system: tackling crime.  To do that effectively, we need an agile, streamlined system that is laser focussed on real risk. 

    A truly risk-based system will better enable law enforcement to crack down on organised crime by providing the financial intelligence needed to go after criminal organisations.  A truly risk-based system is more aligned with international obligations and standards.  A truly risk-based system will provide regulatory relief for lower risk businesses and the public.

    My reform programme, therefore, will be undertaken in three parts.  The first phase is already well-advanced and will deliver immediate regulatory relief via two bills – the first, the Statutes Amendment Bill, has already been reported back from Select Committee to the House of Representatives, and is likely to come into effect in the coming months.  The second, the Anti-Money Laundering and Countering Terrorism Financing Amendment Bill, is currently before select committee. 

    The changes made through these bills include removing both address verification requirements for many customers, and relaxing enhanced customer due diligence requirements for lower-risk trusts.  This will help make it easier for mums and dads to set up bank accounts for their kids, and easier for vulnerable kiwis – including the elderly – to get access to essential financial services. 

    This first set of reforms aims to make immediate changes, to make the AML/CFT system more risk-based and ease the regulatory burden on businesses.

    These changes alone already represent the most significant regulatory relief in the history of the AML/CFT regime.  But we do not intend to stop there.

    The second phase of changes focuses on structural reforms for the regime. Cabinet has agreed that, as part of these structural reforms, we will be implementing a single AML/CFT supervisor structure within the Department of Internal Affairs.  This will replace the current three-supervisor model. 

    This move will create a more efficient, effective, and risk-based supervisory structure – one that reduces unnecessary compliance costs for lower-risk businesses and transactions, removes the need for multi-supervisor coordination efforts – thereby reducing costs – and streamlines decision-making.

    A single supervisor can be more resource responsive to the ever-changing risk environment.  A single supervisor will be better able to deliver consistent and timely guidance to support reporting entities. 

    This will help to ensure that businesses have the confidence to take a more flexible approach to implementing their AML/CFT obligations and lower the barrier to accessing financial services for low-risk customers. 

    A single supervisor with overview of the wider AML/CFT environment will also be better able to look for and realise opportunities as they arise.  For example, I’m sure we all agree that there are opportunities and benefits to be gained in the digital identity and open banking areas.  In addition, the emergence of AI could herald improved, and more cost effective, electronic Know Your Customer (eKYC) functions, risk assessments, and suspicious activity reporting.

    Everyone here will be aware that in a world of increasing demands, the AML/CFT system in New Zealand is currently underfunded.  My phase two structural reforms will also see us work towards introducing a sustainable funding model for the system. 

    The new hybrid funding model will establish an industry-levy.  I will ensure that this levy is designed in a way that distributes the costs in a risk appropriate and equitable way, so that it targets the highest risk sectors – such as large international banks – and does not place an undue burden on small businesses. 

    This hybrid funding model will provide sufficient resourcing for core regulatory functions and deliver substantial savings to the Crown.  This approach is in line with what has been done in other like-minded jurisdictions, like Australia, the United Kingdom and Canada.

    As part of the work on the funding model, a work programme and a National Strategy will be developed in partnership with industry and agreed by Cabinet to ensure that the system is focussed on industry priorities.  Any changes to the levy will also need to be informed by the AML/CFT National Strategy. 

    Now, I know that many of you in this room will have opinions and views on the approach we have taken to these structural reforms.  I look forward to engaging with you and drawing on your sector expertise as we get stuck into the detail of this change process.

    The structural changes in phase two of my reforms will result in an amendment Bill that I aim to have introduced by the middle of this year.  Officials are currently working on the details of developing and implementing the levy, but I expect that the earliest it would be in place is by 2027.

    The third phase of these reforms will deliver wider legislative changes to implement international standards outlined by the FATF.  This Bill will be introduced later in this Parliamentary term.

    Doing this international compliance work will have a natural flow on effect that improves New Zealand entities’ ability to carry on with business and sharpens our law enforcement tools.  Importantly, it includes amendments to provide further flexibility for businesses to take a more risk-based approach to their AML/CFT obligations.

    The work programme was designed to address specific areas that were identified through robust stakeholder consultation during the 2022 Statutory Review of the AML/CFT Act and further targeted engagement has been undertaken since then.

    I am aware there is room for improvement in other areas as well – and some of you may be disappointed that more statutory reforms are not currently being progressed. 

    In arriving at my current statutory reform programme, I have taken a pragmatic approach – the current fiscal environment dictates that we are smart and outcomes-focused with our reforms.  Right now, this means prioritising the changes that will give us the biggest bang for our buck in terms of regulatory relief, while ensuring compliance with international expectations and supporting law enforcement to tackle organised crime and delivering regulatory relief. 

    We need to prioritise this legislative work programme first to ensure that changes to the law are made and the system is properly set up to take a risk-based approach in time for our next mutual evaluation in 2028.  I am excited and proud that this reform programme is on track to deliver the most significant regulatory relief since the Act came into force in 2013.

    But, like you, I want to do more, if I can.  I am committed to look for opportunities to do just that, not only through reforms to legislation, but also through considering potential exemptions and regulations that will support a more risk-based AML/CFT system.

    I look forward to working with you all as we move forward with all the parts of this reform programme.  To me, the key to successfully strengthening the AML/CFT system through these reforms is collaboration and leveraging expertise in the sector. 

    I encourage you all to participate in consultation when these opportunities come up.  We need people with experience and knowledge to get involved – we need you.  I look forward to hearing your views on how we can make the laws work for you. 

    Thank you for having me today, it’s a pleasure to be here with you all.  Enjoy your time here at the conference.

    MIL OSI New Zealand News –

  • MIL-OSI Russia: Marat Khusnullin: Since 2019, more than 1,170 memorial sites dedicated to the Great Patriotic War have been improved in Russia

    Translation. Region: Russian Federal

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

    Square in Voldarsk, Nizhny Novgorod region.

    Improvement of places with memorials of the Great Patriotic War helps to preserve the memory of the heroism of those people who defended our country and sacrificed their lives for peace and freedom. This work is carried out in Russia annually, Deputy Prime Minister Marat Khusnullin reported.

    “Victory Day is one of the most significant holidays in the history of our country. This day is dedicated to the feat of Soviet soldiers who fought with honor against the Nazi invaders. The Great Patriotic War left a deep mark on history, and we must honor the memory of the fallen so that their sacrifices are not forgotten. Improvement of memorial sites is one of the ways to express respect and gratitude to the heroes. The renovation of spaces where monuments, war memorials, Alleys of Memory, Eternal Flame, and mass graves are located is carried out annually as part of the federal project “Formation of a Comfortable Urban Environment”, which this year became part of the national project “Infrastructure for Life”. Since 2019, more than 1,170 such sites have been improved,” Marat Khusnullin noted.

    Work on reconstruction and visual transformation of memorial territories makes a significant contribution to the preservation of the history and cultural heritage of the country. Among the main improvement works are the implementation of territory planning, landscaping, installation of additional lighting, arrangement of pedestrian zones and places for the placement of military equipment from the Great Patriotic War.

    “This year, Russia celebrates the 80th anniversary of the Victory in the Great Patriotic War. On the occasion of these most important events in the history of the country, festive events are planned in the regions, including the improvement of 97 memorial spaces, emphasizing the significance of the feat of people who united to preserve their Fatherland. The largest number of sites are planned to be improved in the Sverdlovsk Region – 11, Omsk Region – 9, the Republic of Buryatia – 9 and Bryansk Region – 7. This year, among other things, it is planned to improve memorial sites in cities and towns that, being in the rear, forged and brought Victory closer during the Great Patriotic War. Among them are a walking route from the central city square to Victory Park – the Glory Memorial in the city of Verkhnyaya Tura in the Sverdlovsk region, Victory Park in the village of Kamensk in the Republic of Buryatia, Victory Park and public spaces along Plyasova Street in the city of Mogocha in the Zabaikalsky Krai,” said Minister of Construction and Housing and Public Utilities Irek Faizullin.

    For example, in the Nizhny Novgorod Region, 28 memorial public spaces were improved from 2019 to 2024 as part of the federal project “Formation of a Comfortable Urban Environment”. Among them are memorial squares and memorials with heroic symbols of the Red Army. Work was completed on the improvement of the Unknown Soldier Square in the city of Gorodets. Every year on May 9, residents of the town come to the square to lay flowers at the monument and remember their relatives who defended the Motherland.

    In the Smolensk region, 11 historical sites have been improved. Among them is a monument with a BM-13 rocket launcher (Katyusha), which was erected in honor of the world’s first rocket artillery. The monument is a cultural heritage site of federal significance, and is considered a landmark and calling card of the city of Rudny in the Smolensk region.

    In the city of Kotelnikovo in the Volgograd region, the monument to the Great Patriotic War “Mass grave of Soviet tank soldiers who died during the Battle of Stalingrad” has been improved. Rotmistrov Street is one of the main streets of the city and connects the railway and bus station with the central part of the city. The monument located on it is compositionally united with the central park of culture and recreation, improved in 2018, the entrance to which is located nearby.

    It is also worth noting that the All-Russian competition for the best design of shop windows and entrance groups of non-residential, social, cultural and other facilities “Victory Spring” is dedicated to the celebration of the 80th anniversary of Victory in the Great Patriotic War. The Ministry of Construction is holding it together with the Association for the Development of Territories with the support of the Presidential Administration and the All-Russian Association for the Development of Local Self-Government. The regional stage of the competition will be held until May 12, 2025, and the federal stage will take place from May 15 to June 11.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 07.05.2025, 14-34 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0JXSS1 (Akron B1P2) were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    07.05.2025

    14:34

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 07.05.2025, 14-34 (Moscow time), the values of the upper limit of the price corridor (up to 85.11) and the range of market risk assessment (up to 914.84 rubles, equivalent to a rate of 12.5%) of the RU000A0JXSS1 security (Akron B1P2) were changed.

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

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

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 05/07/2025, 16-16 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A1029A9 (Rosmorp1R1) were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    07.05.2025

    16:16

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 07.05.2025, 16-16 (Moscow time), the values of the upper limit of the price corridor (up to 102.01) and the range of market risk assessment (up to 267.62 rubles, equivalent to a rate of 12.5%) of the security RU000A1029A9 (Rosmorp1R1) were changed.

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

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

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: New basis for calculating the zero-coupon yield curve for government bonds comes into force on May 15, 2025

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    From May 15, 2025, a new composition of the calculation base for the Zero-coupon yield curve of government bonds (federal loan bonds) will come into effect.

    The calculation basis for the zero-coupon yield curve of government bonds, effective from 15.05.2025

    No. Name State registration number
    1 OFZ 26234 SU26234RMFS3
    2 OFZ 26229 SU26229RMFS3
    3 OFZ 26219 SU26219RMFS4
    4 OFZ 26226 SU2626RMFS9
    5 OFZ 26207 SU26207RMFS9
    6 OFZ 26232 SU26232RMFS7
    7 OFZ 26212 SU26212RMFS9
    8 OFZ 26242 SU26242RMFS6
    9 OFZ 26228 SU2628RMFS5
    10 OFZ 26218 SU26218RMFS6
    11 OFZ 26241 SU26241RMFS8
    12 OFZ 26221 SU26221RMFS0
    13 OFZ 26244 SU26244RMFS2
    14 OFZ 26225 SU26225RMFS1
    15 OFZ 26233 SU26233RMFS5
    16 OFZ 26240 SU26240RMFS0
    17 OFZ 26243 SU26243RMFS4
    18 OFZ 26230 SU26230RMFS1
    19 OFZ 26238 SU26238RMFS4
    20 OFZ 26239 SU26239RMFS2
    21 OFZ 26247 SU26247RMFS5
    22 OFZ 26236 SU26236RMFS8
    23 OFZ 26237 SU26237RMFS6
    24 OFZ 26248 SU26248RMFS3
    25 OFZ 26235 SU26235RMFS0
    26 OFZ 26224 SU26224RMFS4
    27 OFZ 26246 SU26246RMFS7

    Detailed information on the zero-coupon yield curve for government bonds (federal loan bonds) is available on the exchange’s website HTTP: //moex.Kom/a3642

    Contact information for media 7 (495) 363-3232Pr@moex.kom

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

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

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 05/07/2025, 17-46 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0ZYFN3 (DOM.RF B10) were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    07.05.2025

    17:46

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 07.05.2025, 17-46 (Moscow time), the values of the upper limit of the price corridor (up to 104.75) and the range of market risk assessment (up to 1077.22 rubles, equivalent to a rate of 7.5%) of the RU000A0ZYFN3 security (DOM.RF B10) were changed.

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

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

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

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: Tech companies urged to join drive to cut crime

    Source: United Kingdom – Executive Government & Departments

    Press release

    Tech companies urged to join drive to cut crime

    Top tech experts are meeting the Justice Secretary as part of a Government drive to use AI and technology to transform the justice system and cut crime.

    • New study shows tags monitoring curfews cut reoffending by 20%
    • Top tech experts assemble to address criminal justice challenges
    • Ambition to use technology to deliver safer streets as part of Plan for Change

    Today around 30 companies including Microsoft, Amazon Web Services and Google will explore how revolutionary tech could be used to tackle violence in prison, better monitor offenders in the community and improve risk assessments of offenders.  

    The meeting comes as new research shows curfew tags, which keep offenders at home and off the streets during certain times, can reduce reoffending by 20 per cent. This demonstrates how even older technology is supporting punishment in the community and cutting crime. 

    The challenge now is to see how newer technology can contribute to help deliver the Government’s Plan for Change to make streets safer. 

    Today’s gathering will be chaired by James Timpson, the prison and probation minister, and opened by Lord Chancellor, Shabana Mahmood.  

    Lord Chancellor, Shabana Mahmood, said:  

    We inherited a justice system in crisis, with prisons close to collapse and staff overburdened and under pressure. 

    We need bold ideas to address the challenges that we face – supporting our staff, delivering swifter justice for victims, and cutting crime. 

    Today, we have an analogue justice system in a digital age.  

    The UK has a world-leading and growing tech sector, and I know our tech firms have a huge role to play in delivering our Plan for Change to make streets safer.

    The roundtable marks the first time key players in the UK’s tech ecosystem will meet with justice ministers to discuss some of the toughest challenges our courts, prisons and probation system face.  

    Discussion will focus on the potential for even more effective tracking of offender movement, using data to aid probation officers to perform better risk assessments and whether digital platforms can help offenders rehabilitate and integrate back into society, cutting reoffending.  

    It has been organised in partnership with techUK which is the trade association that brings together companies and organisations to promote digital technology. 

    techUK CEO, Julian David OBE said:  

    We’re honoured to be hosting this roundtable discussion with the Ministry of Justice – It presents an excellent opportunity for the tech sector to highlight the transformative role that technology is playing in modernising our criminal justice system.

    techUK and our members believe that collaboration and open dialogue are essential to fostering innovation and driving meaningful reform – particularly in how offenders are rehabilitated – and that digital tools can be a powerful force in sustaining this positive impact across society.

     Other companies attending include:  

    • Allied Universal: an industry leader technology and service company for three decades 

    • Cognizant Worldwide Limited: focuses on modernising technology, reimagining processes and transforming experiences 

    • TPXimpact​: a UK-based company focusing on digital transformation and creating positive change for people, places, and the planet 

    Microsoft Ltd. UK Public Sector General Manager, Amanda Sleight said:  

    We’re thrilled to be part of this groundbreaking initiative with the Ministry of Justice.

    Microsoft is committed to advancing the ethical use of AI technology to reduce the administrative burden on prison and probation staff, allowing them more time to focus on delivering high-quality frontline services, reducing recidivism and helping integrate offenders back into society.

    The aim is for a follow up to this meeting with an event open to the whole of industry to apply to come back and present their groundbreaking ideas and solutions in the coming months.

    Earlier this year, the Lord Chancellor set out her vision for the Probation Service, which included a bold new £8 million pledge to introduce new technology to help risk assess offenders and cut back on admin, increasing focus on those offenders who pose the greatest risk to the public.

    Updates to this page

    Published 8 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: VE Day boost for veterans’ healthcare

    Source: United Kingdom – Executive Government & Departments

    Press release

    VE Day boost for veterans’ healthcare

    Government announces £1.8 million investment to transform NHS care for veterans, serving personnel and their families.

    • New training for NHS workers to improve healthcare support for veterans.
    • Programme will improve access and outcomes for veterans, serving personnel and their families.
    • Regional trainers will work with GP practices and mental health services to embed expertise where it is needed most

    Armed forces veterans and their families will benefit from improved and targeted healthcare, the government has announced as the nation marks the 80th anniversary of VE Day.

    A new training programme will ensure NHS staff across the country are supported to meet the unique health needs of veterans, serving personnel and their families.

    The new programme will see NHS staff across England receiving dedicated training to help them identify and support patients with military backgrounds. GPs, doctors and NHS nurses will work with regional trainers to make sure they embed this support into their services.

    Veterans can require specialised care for injuries sustained in combat, as well as mental health support for conditions like post-traumatic stress disorder (PTSD) and depression.

    Many also struggle to navigate civilian healthcare systems and may not self-identify as veterans to NHS staff, putting them at risk of missing out on the additional services and bespoke services that are already available.

    Health and Social Care Secretary Wes Streeting said: 

    As we mark the 80th anniversary of VE Day, we’re honouring our Armed Forces not just with words, but with action.  

    Too many veterans face a system that doesn’t fully understand their needs – that changes today.

    This new training programme will help NHS staff across England give our veterans the personalised care they deserve. Through our Plan for Change the NHS will deliver for those who have delivered for Britain.

    As of April 2025, every NHS Trust in the country became officially ‘Veteran Aware’, a status which means they have been recognised for demonstrating their understanding of military healthcare needs. The three-year training programme will build on this success and will be rolled out from October 2025 across England.

    The programme, backed by £1.8 million, will support NHS bodies to demonstrate their commitment to the Armed Forces Covenant, which ensures those who serve or have served, and their families, are treated fairly and not disadvantaged because of their military service. 

    The training will support healthcare providers to improve identification of Armed Forces personnel, deliver more personalised care, and ultimately improve health outcomes for veterans and their families.

    Kate Davies CBE, National Director for Armed Forces Health, NHS England said:

    On the 80th anniversary of VE Day, we honour the extraordinary legacy of our Armed Forces— and reaffirm the NHS’s commitment to those who’ve served.

    As part of the Armed Forces Covenant, we’re launching our most comprehensive training programme yet to meet the unique healthcare needs of veterans. 

    Developed with frontline experts in veterans’ health and those with lived experience, this national initiative ensures those who’ve served receive the high-quality, specialised care they deserve.

    Carol Betteridge OBE, Deputy Services Director at Help for Heroes said:

    We’re pleased to see this important step forward in supporting veterans’ healthcare. Help for Heroes has already been delivering similar training through our Veteran Champion programme in NHS settings, and we look forward to working with NHS England to share our experience and help improve care for veterans and their families.

    The announcement follows a £50 million boost in funding to ensure veterans across the UK will have easier access to essential care and support under a new UK-wide veteran support system, called VALOUR.

    Through the Plan for Change, the government has delivered an extra 3 million appointments since July to cut waiting lists and provided the biggest boost to GP funding in years – an extra £889 million, and on Tuesday 6 May, the government announced a further major cash injection of over £102 million to upgrade and modernize GP practices.

    The government is also bringing back the family doctor, recruiting an additional 1,500 GPs since October, and cutting red tape so GPs spend more time caring for patients.

    Background

    • The National Training and Education Plan will cost £1.8 million over three years (2025/26 – 2027/28), with funding already secured. 
    • All NHS Trusts have achieved Veteran Aware Accreditation under the programme led by the Veterans Covenant Healthcare Alliance. 
    • Key objectives of the programme include: 
      • Driving down health inequalities and unwarranted variation in healthcare for the Armed Forces community 
      • Increasing awareness of the unique characteristics of the Armed Forces community 
      • Supporting NHS systems to deliver their statutory responsibilities under the Armed Forces Covenant 
    • The Training and Education leads will: 
      • Provide standardised national Armed Forces awareness training for NHS staff at all levels 
      • Help inform NHS commissioning bodies in developing health needs assessments for the Armed Forces community 
      • Assist Integrated Care Boards to support armed forces families to better access health services

    Updates to this page

    Published 8 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Prime Minister to set out vision for ‘defence dividend’ in a changed world

    Source: United Kingdom – Executive Government & Departments

    Press release

    Prime Minister to set out vision for ‘defence dividend’ in a changed world

    As the nation marks VE Day, remembering the triumph of our values and the sacrifices made to secure them eight decades ago, the Prime Minister will share his vision for working people, once again, to feel the benefit of Britain stepping up.

    • As the nation marks VE Day, PM will deliver keynote speech at the London Defence Conference
    • He is expected to say that the benefits of boosting defence investment in a changing world must be felt directly in the pockets of working people
    • Seizing on the conference theme of Alliances, he will set out how state, businesses and society must join hands on security and prosperity
    • He will also unveil a £563 million contract for Rolls-Royce, becoming the latest investment in Britain’s first class engine building industry

    As the nation marks VE Day, remembering the triumph of our values and the sacrifices made to secure them eight decades ago, the Prime Minister will share his vision for working people, once again, to feel the benefit of Britain stepping up.

    Delivering the keynote speech at the London Defence Conference this morning, he will describe the government’s task to seize upon the ‘defence dividend’ presented by our increased investment in defence, in order to create jobs, wealth and opportunity in every corner of the country.

    In doing so he will highlight how the government’s boost to defence spending – the highest since the Cold War – will not only provide safety and security for the United Kingdom, but also cement the UK’s status as a defence industrial leader, with more high skilled jobs for people proud to keep our country safe.

    Prime Minister Keir Starmer is expected to say:

    Our task now is to seize the defence dividend – felt directly in the pockets of working people, rebuilding our industrial base and creating the jobs of the future.

    A national effort. A time for the state, business and society to join hands, in pursuit of the security of the nation and the prosperity of its people.

    An investment in peace, but also an investment in British pride and the British people to build a nation that, once again, lives up to the promises made to the generation who fought for our values, our freedom and our security.

    The Prime Minister will use his speech to deliver a tribute to the bravery of the veterans who secured victory 80 years ago and the remarkable men and women who carry the vital task of protecting our security today. It follows a street party on Downing Street on Monday where the Prime Minister welcomed Second World War veterans and cadets from across the country, and comes ahead of his attendance at the service at Westminster Abbey this afternoon.

    He will say:

    Britain’s victory was not just a victory for Britain. It was a victory for good against the assembled forces of hatred, tyranny and evil, for the light of our values – in a world that tried to put them out.

    Now, as you know, there are people who would happily do likewise today. Our values and security are confronted on a daily basis. We must use this moment to deliver security and renewal for our country.

    At the Conference the Prime Minister will address policymakers, military figures, defence firms and academics from around the world.

    In the face of global instability, he will reflect on how the conference theme ‘Alliances’ should mean not only our iron-clad commitment to NATO and Western Values but also an opportunity to double down on efforts to work hand-in-hand with business and society to make the UK better off and more secure.

    He will announce the latest significant investment in British expertise with a £563 million contract for Rolls-Royce for the maintenance of Britain’s fleet of Typhoon fighter jets. The work to maintain 130 Typhoon engines will take place at Rolls-Royce’s sites, supporting hundreds of jobs in Bristol and beyond.

    The announcement supports the government’s priority of continuing the UK’s great tradition of building the ships, missiles, artillery, vehicles, aircraft and more that keeps us safe – cementing the British defence industry’s place as the engine of national renewal.

    It comes less than a week after the Prime Minister hailed the RAF’s new UK-made StormShroud drones. The groundbreaking new technology will make the RAF’s world-class combat aircraft more survivable and more lethal by delivering high-tech signal jammers to disrupt enemy radar at long ranges, protecting our aircraft and pilots.

    Updates to this page

    Published 8 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Dmitry Chernyshenko congratulated radio workers on their professional holiday

    Translation. Region: Russian Federal

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

    Deputy Prime Minister Dmitry Chernyshenko congratulated workers in the fields of communications, radio engineering and radio journalism on Radio Day.

    In his congratulatory message, the Deputy Prime Minister emphasized the historical significance of the invention of radio for the development of modern technologies and communications.

    “Today is a professional holiday for everyone whose life and work is connected with radio. In 1895, the outstanding Russian physicist Alexander Popov created a wireless radio receiving and transmitting system. This became the basis for the development of navigation devices, mobile communications, wireless data exchange networks and the Internet, without which it is impossible to imagine our life,” said Dmitry Chernyshenko.

    He noted that radio remains an important source of information and entertainment for millions of Russians.

    “Tens of millions of Russian citizens remain loyal fans of radio. It serves as a source not only of entertainment and music content, but also of prompt reliable news. I would like to note that more than 3.5 thousand licenses for radio broadcasting have been issued in our country. The rapid development of the industry makes a significant contribution to achieving Russia’s technological leadership – a national goal set by President Vladimir Vladimirovich Putin. Radio stations are mastering modern technologies, including artificial intelligence, and the digital platform for distributing online radio channels is strengthening its position,” said Dmitry Chernyshenko.

    Last year, the Government supported more than 200 socially significant projects of electronic media. Of no small importance is the systematic training of highly qualified personnel for the industry.

    In conclusion of his congratulations, Dmitry Chernyshenko wished the radio workers health, success and continuous growth of their audience.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: Corporations attracted 1.1 trillion rubles on the Moscow Exchange bond market in April 2025

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    The total volume of bond trading on the Moscow Exchange in April 2025 amounted to 3.2 trillion rubles, excluding overnight bonds (1.8 trillion rubles in April 2024).

    Primary market

    The total volume of placement and buyback of bonds on the Moscow Exchange in April 2025 amounted to 1.9 trillion rubles, including the volume of placement of one-day bonds in the amount of 398 billion rubles.

    In April, 101 new corporate bond issues from 51 issuers with a total volume of 1.1 trillion rubles were placed on the Moscow Exchange. The total volume of corporate bond placements and buybacks amounted to 1.2 trillion rubles (561 billion in April 2024).

    Secondary auctions

    The total volume of secondary bond trading on the Moscow Exchange amounted to 1.7 trillion rubles (943 billion rubles in April 2024).

    The total volume of transactions by individuals on the Moscow Exchange bond market in April amounted to 560.0 billion rubles, which is more than twice the figure for April 2024. Their share in the total volume of bond trading in T mode in March was 31.5%.

    Evening trading in April accounted for 3% of the total trading volume on the bond market.

    The volume of over-the-counter transactions with the central counterparty (OTC with the central counterparty bonds) at the end of the month amounted to 345.5 billion rubles.

    Contact information for media 7 (495) 363-3232Pr@moex.kom

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

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

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

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  • MIL-OSI Russia: Financial news: 05/07/2025, 11-14 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the RU000A100VG7 (SUEK-F1P3R) security were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    07.05.2025

    11:14

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 07.05.2025, 11-14 (Moscow time), the values of the upper limit of the price corridor (up to 89.76) and the range of market risk assessment (up to 925.53 rubles, equivalent to a rate of 7.5%) of the RU000A100VG7 (SUEK-F1P3R) security were changed.

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

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

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

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  • MIL-OSI New Zealand: Marking Victory in Europe Day’s 80th anniversary

    Source: NZ Music Month takes to the streets

    The Government is encouraging New Zealanders to mark Victory in Europe Day’s 80th anniversary today by paying tribute to those who fought for freedom and peace.

    “On the 8th of May 1945, the Second World War in Europe came to an end, bringing relief and hope to millions after six years of devastating conflict,” Heritage Minister Paul Goldsmith says.

    “Today marks a significant milestone in world history, and a poignant moment for New Zealand.

    “I encourage all New Zealanders to commemorate this day in their own way. Whether that is by laying a tribute at a local war memorial, pausing to take a moment of quiet reflection, or simply learning more about New Zealand’s effort in this global fight for peace,” Mr Goldsmith says.

    “New Zealand played a crucial role in the Second World War, with about 140,000 New Zealanders serving in military forces overseas,” Defence Minister Judith Collins says.

    “By the end of the war, nearly 12,000 New Zealanders had lost their lives, and 9,000 had been taken as prisoners of war. Many more served on the home front, supporting the war effort in numerous ways.”

    “The nation’s contributions spanned various theatres of war, from Egypt, Italy, and Greece to Southeast Asia and the Pacific, and our people lie in cemeteries around the world.

    “We must never forget their service and their sacrifice,” Ms Collins says.

    “VE day is a time to remember the immense sacrifice of all who contributed to the Second World War effort, in particular our veterans, of whom fewer than 100 remain with us,” Veterans Minister Chris Penk says.

    “As we honour this significant anniversary, we reflect on the courage of those who fought for peace and acknowledge that the most meaningful way to uphold their legacy is by striving for a world free from conflict.”

    The Ministry for Culture and Heritage has detailed a variety of ways people can commemorate this significant moment on its website.

    The Second World War ended for New Zealand on 15 August 1945, when conflict ceased in the Asia-Pacific region with Japan’s surrender. 

    MIL OSI New Zealand News –

  • MIL-OSI Australia: ACCP to lead research into European child abuse responses

    Source:

    08 May 2025

    ACCP researcher Dr James Herbert will lead the project to analyse the Barnahus model .

    UniSA’s Australian Centre for Child Protection (ACCP) will lead research into the effectiveness of a multidisciplinary and child friendly response to child sexual abuse in Europe.

    ACCP has been awarded a $910,000 Oak Foundation grant to help evaluate the impact of the Barnahus response to child abuse.

    The Barnahus model (translates to ‘Children’s House’ in Icelandic) is a multidisciplinary and child friendly response to child sexual abuse in Europe that aims to bring together all relevant professionals under one roof, creating a safe and child-centred environment for investigation and support.

    Dr James Herbert will lead the million-dollar research project with partners in the United Kingdom and Germany to better understand the variations in how countries implement Barnahus and how to measure the impact of these different models for children.

    “The project will evaluate the impact of Barnahus in Europe and look at the evidence,” says Dr Herbert.

    “An Australian being awarded this grant for a project in Europe is a really important recognition of the work that ACCP has done to date in advancing research into multidisciplinary responses like Children’s Advocacy Centres (CAC) and Barnahus.”

    Along with research into multi-disciplinary models in Australia, Dr Herbert has a strong track record of international collaboration.

    This has included a national survey of CACs in the United States to identify the scale of resources they had to support children, contributing to a review of medical services at the Chicago CAC, supervising a research project in Canada into the alignment of multi-disciplinary teams, and serving on the international evaluation advisory committee for the Scottish ‘Bairns Hoose’.

    The research team will work closely with the Barnahus Network and their membership on the project across 28 countries in Europe.

     “The Barnahus approach is an excellent example of what systems change can look like and what’s possible when we put children at the centre of our considerations,” Dr Herbert says. “Long term, I’m hoping that we will be able to bring the learning and experience from this work back to Australia.”

    The ACCP has received the Oak Foundation grant under their Prevent Child Sexual Abuse Programme.

    The ACCP is Australia’s premier research centre for the prevention of child abuse and neglect; the Director is currently Professor Leah Bromfield (2025 Australian of the Year for SA). It was established by the Commonwealth Government in partnership with the University of South Australia in 2004 to better prevent and respond to child abuse and neglect by helping to not only grow the evidence base but also translate it into practice.

    …………………………………………………………………………………………………………………………

    Contact for interview: Dr James Herbert M: +61 402 298 734 E: james.herbert@unisa.edu.au

    Media contact: Candy Gibson M: +61 434 605 142 E: candy.gibson@unisa.edu.au

    Other articles you may be interested in

    MIL OSI News –

  • MIL-OSI United Kingdom: Russia has acted to obfuscate and embolden the DPRK’s unlawful pursuit of weapons of mass destruction: UK statement at the UN Security Council

    Source: United Kingdom – Executive Government & Departments

    Speech

    Russia has acted to obfuscate and embolden the DPRK’s unlawful pursuit of weapons of mass destruction: UK statement at the UN Security Council

    Statement by Ambassador James Kariuki, UK Deputy Permanent Representative to the UN, at the UN Security Council meeting on North Korea.

    Analysis from organisations like the Open Source Centre has become even more vital in the wake of the expertise gap left by the 1718 Panel of Experts.

    One year on, the UK deeply regrets Russia’s decision to veto the mandate renewal of the 1718 Panel of Experts.

    This was a deliberate act used to obfuscate and embolden the DPRK’s unlawful pursuit of weapons of mass destruction, and to conceal Russia’s own erosion of the UN sanctions architecture, which it has a responsibility to uphold as a permanent member of this Council.

    The Panel’s credible, objective and independent reporting enabled this Council and the international community to effectively monitor the implementation of UN sanctions on the DPRK.

    Most importantly, the Panel helped prevent the DPRK’s unlawful and dangerous development of nuclear and ballistic missile programmes.

    Since Russia’s veto last year, there have been over 40 missile tests, including one intercontinental ballistic missile test and one intermediate-range ballistic missile test.  

    This escalation represents multiple breaches of UN Security Council resolutions, for which we have been deprived of further analysis.

    Colleagues, it is obvious that Russia’s objective was to clear the path for the expansion of their military relationship with the DPRK.

    The DPRK is believed to have supplied 20,000 containers of munitions to Russia, and its artillery and mortar shells account for 60% of those used in Russia’s brutal war of aggression against Ukraine.

    And as we’ve heard, in the past week, Russia and the DPRK publicly flaunted their agreement to use DPRK troops as mere cannon fodder in that war.

    Let me be clear, we cannot allow this brazen disregard towards UN sanctions to become normalised. 

    The UK will continue to work closely with partners to monitor sanctions evasion, to hold both Russia and the DPRK to account, and to call out those complicit in the DPRK’s violations of UN Security Council resolutions.

    As we have heard over the course of the NPT Prepcom, this Council should stand firm in its defence of the global non-proliferation regime.

    The UK remains steadfast with partners in our shared goal for the DPRK to abandon all nuclear weapons, other weapons of mass destruction and ballistic missile programs in a complete, verifiable and irreversible manner.

    Updates to this page

    Published 7 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: The US Federal Reserve left the interest rate unchanged at 4.25-4.5 percent.

    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

    WASHINGTON, May 7 (Xinhua) — The U.S. Federal Reserve on Wednesday left its target range for the federal funds rate unchanged at 4.25 percent to 4.5 percent amid expectations that the Trump administration’s tariff policies will lead to higher inflation and slower economic growth.

    “Uncertainty about the economic outlook is increasing,” the Federal Open Market Committee, the Fed’s policymaking arm, said in a statement following its two-day meeting.

    “The Committee closely monitors the risks to both sides of its dual mandate and believes that the threats to higher unemployment and inflation have increased,” the statement said.

    With tariff chaos deepening and inflation risks resurfacing, economists and market participants are increasingly concerned about a slowdown in economic growth, and some are worried about a hit to the labor market and a possible recession. In this regard, Fed officials have also expressed their concerns.

    “I wouldn’t be surprised if you start to see more layoffs and higher unemployment going forward, especially if the big tariffs come back,” Fed Governor Christopher Waller said in a recent interview with Bloomberg. “I would expect to see more rate cuts, and sooner rather than later, as soon as there’s a significant deterioration in the labor market,” he added. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Leaders of Belarus and Guinea-Bissau held talks in Minsk

    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

    MINSK, May 7 (Xinhua) — Belarusian President Alexander Lukashenko and Guinea-Bissau President Oumarou Sisoko Embalo held talks in Minsk on Wednesday. The Belarusian leader announced his readiness to establish cooperation with the African country in all areas. The corresponding information was published by the press service of the Belarusian head of state.

    According to A. Lukashenko, Belarus is ready to supply Guinea-Bissau with a wide range of necessary products, including food, clothing, footwear, and industrial goods. “I know that you really need to develop agriculture to the highest level. You probably understand very well that we are capable of providing you with the appropriate technological and technical support and services. You can count on us in this regard,” A. Lukashenko said.

    In turn, U. Sisoku Embalo noted that Belarus’s vast experience in developing the agro-industrial complex is of great interest to his country. “We know that Belarus has accumulated vast experience in the agro-industrial complex. We would like to take advantage of this experience and thus open a kind of door to the future. I very much count on cooperation with Belarus,” he emphasized.

    On the same day, representatives of Belarus and Guinea-Bissau signed documents aimed at strengthening bilateral cooperation. Among them is an intergovernmental agreement on the abolition of visas for holders of diplomatic, official and service passports. A memorandum of cooperation in the field of agriculture was also signed. In addition, the parties signed a memorandum of cooperation between the Ministry of Industry of Belarus and the Ministry of Trade and Industry of Guinea-Bissau. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Xi Jinping congratulates participants of Chinese-Russian cultural and humanitarian exchange event

    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

    BEIJING, May 7 (Xinhua) — Chinese President Xi Jinping on Wednesday sent a congratulatory message to participants in a China-Russia cultural and humanitarian exchange event dedicated to the 80th anniversary of the victory in the Chinese People’s War of Resistance Against Japanese Aggression and the Great Patriotic War.

    In his message, the Chinese leader noted that 80 years ago, the Chinese and Russian peoples jointly made an indelible historical contribution to the victory in the World Anti-Fascist War and sealed with blood an unbreakable great friendship, laying a solid foundation for the high-level development of interstate relations.

    Xi said that after 80 years, thanks to the joint efforts of both sides, China-Russia ties have shown new vitality and set a new model for major power relations.

    He stressed that strengthening cultural and humanitarian exchanges is of great and profound significance for increasing mutual understanding, strengthening good-neighborliness and friendship, and increasing public and popular support for the development of bilateral relations.

    The Chinese President expressed the hope that the media of both countries will take on a common mission and move forward hand in hand, conducting cultural and humanitarian exchanges that connect peoples, are close to life and filled with warmth. According to the Chinese leader, this will give new impetus to deepening mutual understanding and friendship between the peoples of the two countries, add new luster to the Sino-Russian relations of comprehensive strategic partnership and coordination in the new era, and make new contributions to building a community with a shared future for mankind.

    The event was organized by China Media Corporation and the All-Russian State Television and Radio Broadcasting Company.

    On the same day, Russian President Vladimir Putin also sent a congratulatory message to the participants of the event. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Executive Board Approves Extensions of the Extended Credit Facility Arrangement and the Resilience and Sustainability Facility Arrangement with Cabo Verde

    Source: IMF – News in Russian

    May 7, 2025

    Washington, DC—May 7, 2025: The Executive Board of the International Monetary Fund approved the Cabo Verdean authorities’ request for an extension of the country’s Extended Credit Facility (ECF) Arrangement until September 15, 2025, and for an extension of the Resilience and Sustainability Facility (RSF) Arrangement until September 11, 2025, to allow additional time for completing the sixth ECF and third RSF reviews.

    The three-year ECF arrangement was approved by the IMF’s Executive Board on June 15, 2022, with access of SDR 45.03 million (190 percent of quota) (see Press Release no 22/202). The 18-month RSF arrangement was approved on December 11, 2023, with access of SDR 23.7 million (100 percent of quota) (see Press Release no 23/436).

    The Executive Board’s decision was taken on a lapse-of-time basis[1].

    [1] The Executive Board takes decisions under its lapse-of-time procedure when a proposal can be considered without convening formal discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Kwabena Akuamoah-Boateng

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/05/07/pr-25133-cabo-verde-imf-approves-extensions-of-ecf-arrangement-and-rsf-arrangement

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Executive Board Concludes 2025 Article IV Consultation with Guyana

    Source: IMF – News in Russian

    May 7, 2025

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV Consultation with Guyana.[1]

    Guyana’s economic transformation is advancing strongly and broadening in scale. Rapidly expanding oil production, strong non-oil output, and large-scale public infrastructure investment supported the highest real GDP growth rate in the world, averaging 47 percent per year since 2022. Real oil GDP increased by nearly 58 percent in 2024, while real non-oil GDP expanded over 13 percent, reflecting a solid broad-based performance across sectors. Inflation reached 2.9 percent by end-2024, from 2 percent at end-2023, driven largely by higher food prices (affected by international food prices and earlier floods). The overall fiscal deficit widened from 5.1 percent of GDP (11.7 percent of non-oil GDP) in 2022 to 7.3 percent of GDP (21 percent of non-oil GDP) in 2024 reflecting a large increase in capital expenditure. Driven by higher oil exports, Guyana’s current account surplus more than doubled in 2024, reaching about 24½ percent of GDP. By end-2024, gross international reserves surpassed US$1 billion, while the Natural Resource Fund (NRF) accumulated over US$1.1 billion in 2024, reaching US$3.1 billion (over 12½ percent of GDP). 

    The economic outlook remains highly favorable. The economy is expected to grow on average 14 percent per year over the next five years, driven by robust oil production and strong non-oil GDP growth. Positive spillovers from the oil sector and improvements in infrastructure, productivity, and resilience are expected to boost the real non-oil GDP growth to an average of 6¾ percent over the medium term, about 3 percentage points higher than the pre-oil decade average. While inflation is projected to edge up to around 4 percent in 2025, the overall fiscal deficit and the current account surplus are expected to narrow in 2025. Over the medium term, the continued expansion of oil production will further strengthen the external position, with substantial savings accumulation in the NRF.

    Risks to the outlook are broadly balanced. On the upside, additional oil discoveries and productivity-enhancing investments, including to strengthen energy resilience would further bolster Guyana’s long-term economic prospects, while expanding construction activity would support higher short-term non-oil GDP growth. Downside risks stem from overheating pressures which, if not contained, would lead to higher inflation and a real exchange rate appreciation beyond the level consistent with a balanced expansion of the economy. Commodity price volatility in a highly uncertain global environment, including from trade policy and climate shocks could also adversely affect inflation and alter the macroeconomic outlook.

    Executive Board Assessment[2]

    Executive Directors agreed with the thrust of the staff appraisal. They welcomed Guyana’s remarkable economic progress to attain high-income status, supported by rapidly expanding oil production and robust non-oil growth. They noted that Guyana’s economic outlook remains highly favorable with balanced risks, strong fundamentals, and a strong external position supported by substantial accumulation of oil revenue in the Natural Resource Fund. They commended the authorities’ commitment to balancing development needs with prudent policies to entrench macroeconomic and fiscal stability.

    Directors concurred that the current fiscal stance is appropriate given development needs. They welcomed the authorities’ commitment to eliminate the overall fiscal deficit over the medium term and further narrow the non-oil primary deficit to levels consistent with ensuring intergenerational equity and preserving fiscal and macroeconomic sustainability. They highlighted the need for a comprehensive medium-term fiscal framework with an explicit anchor and an operational target, along with regular assessments of expenditure related to reaching development objectives. They positively noted the authorities’ continued efforts to strengthen public financial management as well as the low risk of debt distress given low public debt.

    Directors considered the monetary policy stance as appropriately tight to help contain inflation, while noting the need for further tightening if inflation risks escalate. They saw merit in enhancing the monetary policy toolkit and deepening financial markets to help strengthen the effectiveness of monetary policy transmission. They emphasized the need for maintaining consistent policies to support the stabilized exchange rate arrangement, which remains appropriate, and saw merit in assessing whether transitioning to a more flexible exchange rate regime over the medium term could be beneficial as Guyana’s economy continues to transform.

    Directors welcomed the authorities’ commitment to maintain financial stability and continue enhancing financial supervision, including monitoring sectoral lending exposures and related-party lending. They supported the authorities’ efforts to further strengthen risk monitoring, strengthen the macroprudential framework, broaden regulatory coverage, and enhance statistics on balance sheets and real estate prices.

    Directors welcomed the authorities’ efforts to foster inclusive growth and economic diversification, improve the business environment, strengthen climate and energy resilience, and enhance labor market skills. They commended progress in strengthening governance, anti-corruption, official statistics, AML/CFT frameworks, fiscal transparency, and transparency in extractive industries, and supported the continued efforts to strengthen them in line with international standards.

    It is expected that the next Article IV consultation with Guyana will be held on the standard 12-month cycle.

    Table 1. Guyana: Selected Social and Economic Indicators

     

    I.  Social Indicators

     

    Population, 2023 (thousands)

       814

    Life expectancy at birth (years), 2022

    66

    		  

    Under-five mortality rate (per 1,000 live births), 2023

    14

    Human Development Index rank, 2022

    95

    II.  Economic Indicators

     

    Prel.

    Proj.

    2023

    2024

    2025

    (Year-over-year percent change)

    Production and Prices

    Real GDP

    33.8

    43.6

    10.3

    Real non-oil GDP

    12.3

    13.1

    12.9

    Real oil GDP

    46.8

    57.7

    9.5

    Consumer prices (end of period)

    2.0

    2.9

    4.2

    (Percent of non-oil GDP)

    Central Government

    Revenue

    39.3

    43.7

    49.9

    Grants

    0.2

    0.2

    0.4

    Expenditure

    52.7

    64.9

    63.4

    Current

    25.1

    28.9

    30.5

    Capital

    27.7

    36.0

    32.9

    Overall balance (after grants)

    -13.3

    -21.0

    -13.2

    Non-oil primary balance (after grants)

    -26.2

    		  

    -38.4

    		  

    -37.5

    (Percent of GDP)

    Revenue

    17.0

    15.3

    18.6

    Grants

    0.1

    0.1

    0.1

    Expenditure

    22.8

    22.6

    23.7

    Current

    10.8

    10.1

    11.4

    Capital

    12.0

    12.6

    12.3

    Overall balance (after grants)

    -5.7

    -7.3

    -4.9

    Total public sector gross debt

    26.7

    24.3

    28.0

    External

    10.5

    9.0

    13.6

    Domestic

    16.2

    15.2

    14.4

     

    Table 1. Guyana: Selected Social and Economic Indicators (Concluded)

    Prel.

    Proj.

    2023

    2024

    2025

    (Year-over-year percent change)

    Money and Credit

    Broad money

    27.6

    25.3

    17.7

    Domestic credit of the banking system

    24.1

    39.7

    4.9

    External Sector

    Current account balance (US$ million)

    1,679.9

    6,067.9

    2,306.2

       (Percent of GDP)

    9.9

    24.6

    8.9

    Gross official reserves (US$ million)

    896.4

    1,010.1

    1,571.4

    (Percent of GDP)

    5.3

    4.1

    6.1

    Crude oil production (million barrels)

    142.3

    225.4

    246.0

    Memorandum Items:

    Nominal GDP (GY$ billion)

    3,527.5

    5,141.3

    5,383.9

    Nominal non-oil GDP (GY$ billion)

    1,524.6

    1,793.7

    2,010.7

    GDP per capita (US$)

    21,307.2

    30,962.3

    32,326.3

    Guyana dollar/U.S. dollar (period average)

    208.5

    208.5 

    … 

    Sources: Guyana’s authorities; UNDP Human Development Report; World Bank; and IMF staff calculations and projections.

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Rosa Hernandez

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/05/07/pr-25132-guyana-imf-executive-board-concludes-2025-article-iv-consultation

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Canada: New Alberta voice in Washington

    For two decades, Alberta has had strong representation in the United States, advocating for Albertans and building integral relationships with key U.S. legislators, decision makers and investors.

    Through these relationships, Alberta and the U.S. have built a $187.2 billion bilateral trade partnership, with the U.S. accounting for 90 per cent of Alberta’s total exports. To maintain and continue building these ties, it is essential that Alberta has a skilled and experienced representative in D.C.

    To prioritize this work, Alberta’s government has appointed the Honourable Nathan Cooper as Alberta’s official representative to the United States, based at the Alberta Washington Office in the U.S. capital.

    Mr. Cooper will draw on his decades of experience in public service, including his most recent experience as Speaker of the Legislative Assembly of Alberta, to lead this important work, focusing on attracting investment, expanding trade opportunities and maintaining the relationships needed to connect Alberta with key decision makers in the U.S.

    “Alberta has seen a lot of success in building its relationship with U.S. decision makers, and much of that success is thanks to the hard work of James Rajotte as Alberta’s Senior Representative to the U.S. In this evolving landscape, Alberta must maintain and build on our ties with U.S. officials, and Nathan Cooper is the right choice to fill this important role. I look forward to continuing to work closely with Nathan as we advocate for Albertans and for our province’s interests in Washington and across the U.S.”

    Danielle Smith, Premier

    “I’m honoured to be entrusted by Premier Danielle Smith with this critical assignment at such a pivotal time. Now more than ever, I see this as a vital opportunity to strengthen and advance Alberta’s long-standing relationship with the United States, ensuring stability and collaboration amid global uncertainty.”

    Nathan Cooper, Alberta’s senior representative to the United States

    “Having worked closely with Nathan, I’ve seen his unwavering commitment to Alberta’s interests. His ability to bring people together, coupled with his deep understanding of U.S. politics, makes him the ideal representative for Alberta in Washington. I’m confident his leadership will be invaluable as we navigate challenges ahead.”

    Nate Horner, Minister of Finance

    “As Speaker of the Assembly, Mr. Cooper is highly respected for his wisdom, integrity and ability to find common ground across parties. I cannot think of a better representative for Albertans in Washington.”

    Deron Bilous, senior vice-president, Counsel Public Affairs and former NDP Minister

    “Over the past few years, we have had the opportunity to work with Speaker Cooper on the Alberta – Wisconsin relationship and look forward to expanding that in his new role here in the United States. I am confident Nathan’s extensive American connections will serve Alberta well as we seek to maintain our strong bilateral relationship.”

    Robin Vos, Speaker of the Wisconsin state assembly

    “As both a business and community leader, I have full confidence that Nathan will be an invaluable asset to businesses on both sides of the border. Given the complexities of today’s political climate, his ability to bridge divides and foster economic collaboration will prove indispensable.”

    Bob Dhillon, president and CEO, Mainstreet Equity Corp.

    “Team Canada needs a strong Alberta in Washington, and Alberta needs strong representation for our trading interests. There might be some tough days ahead for the relationship between Canada and the United States, but I know Nathan Cooper will work hard for Albertans and a strong Canada.”

    Shannon Phillips, former NDP Minister of Environment and Protected Areas

    Since 2005, Alberta’s presence in the U.S. capital has helped advance the province’s economic objectives with U.S. decision makers. Alberta’s envoys have managed this important relationship from the Alberta Washington Office, which is collocated within the Canadian Embassy.

    Biography for Nathan Cooper

    The Honourable Nathan Cooper served as the member of the legislative assembly for Olds-Didsbury-Three Hills from May 5, 2015 to May 7, 2025.

    On May 21, 2019, he was elected by his fellow MLAs as the 14th Speaker of the Legislative Assembly of Alberta.

    Before his time as an MLA, Mr. Cooper served as chief of staff and director of legislative affairs for the Wildrose caucus and completed two terms as a councillor for the Town of Carstairs. He also brings extensive experience in cross-jurisdictional parliamentary affairs, including:

    • As the longest serving Canadian speaker he became dean of the Canadian Speaker Association in 2025.
    • Leading numerous parliamentary delegations to the United States, with a strong focus on relationship-building.
    • Serving as an international guest speaker at Commonwealth Parliamentary Association conferences in Canada and other Commonwealth nations.

    Mr. Cooper’s proven leadership, deep understanding of parliamentary systems and commitment to building meaningful partnerships make him exceptionally well-suited to advance Alberta’s interests in the United States.

    Quick facts

    • James Rajotte, Alberta’s previous Senior Representative to the U.S. has returned to Edmonton after four and a half years representing Alberta in the United States. He continues to serve as a senior advisor to Premier Smith focused on the U.S. file, working out of Premier Smith’s office in Alberta.
    • The salary for the senior representative to the U.S. is publicly disclosed annually in accordance with the Public Sector Compensation Transparency Act.
    • Alberta has maintained offices abroad for more than 50 years and currently has 17 offices in key markets like the United States, Japan, South Korea, the United Kingdom, Mexico, India, Singapore and the Middle East.

    Related information

    • Alberta’s international offices

    MIL OSI Canada News –

  • MIL-OSI USA: Ranking Member Hoyer Remarks at U.S. Department of the Treasury Oversight Hearing

    Source: United States House of Representatives – Congressman Steny H Hoyer (MD-05)

    WASHINGTON, DC – Today, Congressman Steny Hoyer (MD-05), Ranking Member of the House Appropriations Subcommittee on Financial Services and General Government (FSGG), delivered the following remarks at the subcommittee’s oversight hearing on the Department of the Treasury:

    Click here to watch a full video of his remarks.
     

    “Thank you very much, Mr. Chairman, and welcome, Mr. Secretary. This is our first substantive hearing dealing with the devastating actions that the Trump Administration has taken in the first three months of 2025 – actions planned and predicted by Project 2025. I look forward to having more such hearings with other agencies under our jurisdiction – especially the principals of DOGE, OMB, GSA, and OPM, which are having such a profoundly negative impact on our country.

    “What we’ve seen in the first 100 days of this administration is unprecedented, and – so the polls tell us – disturbing to the American people. An irresponsible, incoherent tariff policy has plunged the Americans and global economies into chaos. These past three months, the American economy shrank for the first time since the final days of the pandemic. The stock market fell more in the first 100 days of the Trump Administration than in the first 100 days of any presidency in the past half century. Consumer confidence is [at its] lowest since May of 2020 – the height of Covid-19. That uncertainty has also rattled the bond market, with investors dangerously starting to doubt the full faith and credit of the United States.

    “Most importantly, Americans are hurting. Families see their costs going up. Retirees watch their life savings losing value. Small business owners and farmers risk going under as they struggle to navigate ever-changing tariffs. Our economy is in chaos and so, I think, is our government.

    “Donald Trump, Russell Vought, and Elon Musk are orchestrating an illegal purge of our federal employees. They clearly had a lot of ideas on how to remove these people and dismantle these programs as quickly as possible. Sadly, they had no clue, in my view, as to the devastating consequences of their actions on our country, our government, our allies, and the professionals we rely on to serve the American people.

    “I am particularly concerned about the Internal Revenue Service, which has been severely understaffed and underfunded for decades. So far, the Trump Administration has forced the IRS to cut as many as 11,443 employees – or over 11 percent of its staff. That includes 6,700 workers who were fired at the height of this most recent tax season. Now, the administration is planning to reduce the IRS workforce, I understand, by another 40,000 jobs – or 40 percent. That includes up to half of IRS enforcement staff. Additionally, Trump’s 2026 budget cuts funding for the IRS by 20 percent. These actions at IRS, in my view, and every other government office, have bludgeoned morale, destroyed efficiency, and increased waste.

    “Cutting back on IRS enforcement makes it easier for the wealthiest individuals and corporations to cheat on their taxes and get out of paying what they owe. That, of course, increases what others pay and explodes the deficit. As the President and Congressional Republicans undermine the ability to enforce our existing tax code, they are also pursuing massive tax cuts for the wealthiest among us.

    “Furthermore, DOGE operatives are rifling through IRS databases that contain Americans’ sensitive information, including their financial history, Social Security numbers, immigration status, and more. The story is the same across the federal government. Americans are reeling from this uncertainty in their economy and in their government. They need answers. More than that, they need an adult in the room. That is the role, I hope, the Treasury Department plays – and Mr. Secretary, in particular, yourself.

    “The economy and markets do not lie. We all depend on the Treasury Secretary to communicate clearly and transparently to the President, the Congress, the American people, and, indeed, the world. I’ve mentioned tariffs and the IRS, but I’m also eager to hear, Mr. Secretary from you about our economic approach to the Russian-Ukraine war – especially in light of last week’s mineral deal and recent questions about our sanctions regime on Russia.

    “Former Secretary Mnuchin – whom I believe you know, sir – and I disagreed on some things, but we still found ways to work in a bipartisan fashion to inspire confidence in the economy. Mr. Secretary, I look forward to doing the same with you. Thank you, Mr. Chairman.”

    MIL OSI USA News –

  • MIL-OSI: Constellation Software Inc. and Topicus.Com Inc. Announce Results for Topicus.com Inc. for the First Quarter Ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 07, 2025 (GLOBE NEWSWIRE) — Topicus.com Inc. (TSXV:TOI) in a joint release with Constellation Software Inc. (TSX:CSU) today announced financial results for Topicus.com Inc. (“Topicus” or the “Company”) for the first quarter ended March 31, 2025. Please note that all amounts referred to in this press release are in Euros unless otherwise stated.

    The following press release should be read in conjunction with the Company’s Unaudited Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2025 and the accompanying notes, our Management’s Discussion and Analysis for the three months ended March 31, 2025 and the Annual Consolidated Financial Statements of Topicus.com Inc. for the year ended December 31, 2024, which we prepared in accordance with International Financial Reporting Standards (“IFRS”) and the Company’s annual Management’s Discussion and Analysis for the year ended December 31, 2024, which can be found on SEDAR+ at www.sedarplus.com and on Topicus.com Inc.’s website www.topicus.com. Additional information about Topicus.com Inc. is also available on SEDAR+ at www.sedarplus.com.

    Q1 2025 Headlines:

    • Revenue increased 16% (4% organic growth) to €355.6 million compared to €306.6 million in Q1 2024.
    • Net income increased to €38.8 million (€0.30 on a diluted per share basis) from €28.3 million (€0.22 on a diluted per share basis).
    • Acquisitions were completed for aggregate cash consideration of €39.4 million (which includes acquired cash). Deferred payments associated with these acquisitions have an estimated value of €20.9 million resulting in total consideration of €60.3 million.
    • On January 31, 2025, the Company purchased 8,300,029 shares in Asseco Poland S.A. (“Asseco”) representing approximately 9.99% of the issued shares in Asseco. The shares were acquired at a price of 85 PLN per share for total consideration of €168.0 million. During the three months ended March 31, 2025, the Company recorded a gain of €145.5 million within other comprehensive income reduced by transaction costs of €1.7 million.
    • Cash flows from operations (“CFO”) increased €43.9 million to €271.4 million compared to €227.5 million in Q1 2024 representing an increase of 19%.
    • Free cash flow available to shareholders1 (“FCFA2S”) increased €28.2 million to €161.7 million compared to €133.5 million in Q1 2024 representing an increase of 21%.

    Total revenue for the quarter ended March 31, 2025 was €355.6 million, an increase of 16%, or €49.0 million, compared to €306.6 million for the comparable period in 2024. The increase is primarily attributable to growth from acquisitions as the Company experienced organic growth of 4% in the quarter. Organic growth is not a standardized financial measure and might not be comparable to measures disclosed by other issuers.

    Net income for the quarter ended March 31, 2025 increased €10.5 million to €38.8 million compared to €28.3 million for the same period in 2024. On a per share basis, this translated into net income per basic and diluted share of €0.30 in the quarter ended March 31, 2025 compared to €0.22 for the same period in 2024.

    For the quarter ended March 31, 2025, CFO increased €43.9 million to €271.4 million compared to €227.5 million for the same period in 2024 representing an increase of 19%.

    For the quarter ended March 31, 2025, FCFA2S increased €28.2 million to €161.7 million compared to €133.5 million for the same period in 2024 representing an increase of 21%.

    1. See Non-IFRS measures.

    Forward Looking Statements

    Certain statements herein may be “forward looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Topicus or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Topicus assumes no obligation, except as required by law, to update any forward looking statements to reflect new events or circumstances.

    Non-IFRS Measures

    Free cash flow available to shareholders ‘‘FCFA2S’’ refers to net cash flows from operating activities less interest paid on lease obligations, interest paid on other facilities, credit facility transaction costs, repayments of lease obligations, and property and equipment purchased, and includes interest and dividends received, and the proceeds from sale of interest rate caps. The portion of this amount applicable to non-controlling interests is then deducted. Topicus believes that FCFA2S is useful supplemental information as it provides an indication of the uncommitted cash flow that is available to shareholders if Topicus does not make any acquisitions, or investments, and does not repay any debts. While Topicus could use the FCFA2S to pay dividends or repurchase shares, Topicus’ objective is to invest all of our FCFA2S in acquisitions which meet Topicus’ hurdle rate.

    FCFA2S is not a recognized measure under IFRS and, accordingly, readers are cautioned that FCFA2S should not be construed as an alternative to net cash flows from operating activities.

    The following table reconciles FCFA2S to net cash flows from operating activities:

        Three months ended March 31,  
        2025   2024    
      (€ in millions)
             
    Net cash flows from operating activities   271.4   227.5    
    Adjusted for:        
    Interest paid on lease obligations   (0.7 ) (0.5 )  
    Interest paid on other facilities   (4.7 ) (3.2 )  
    Credit facility transaction costs   (0.1 ) –    
    Payments of lease obligations   (6.8 ) (5.8 )  
    Property and equipment purchased   (2.9 ) (2.7 )  
    Interest and dividends received   0.3   –    
             
        256.5   215.4    
    Less amount attributable to        
    non-controlling interests   (94.8 ) (81.9 )  
             
    Free cash flow available to shareholders   161.7   133.5    
             
    Due to rounding, certain totals may not foot.        
     

    About Topicus.com Inc.

    Topicus’ subordinate voting shares are listed on the Toronto Venture Stock Exchange under the symbol “TOI”. Topicus acquires, manages and builds vertical market software businesses.

    About Constellation Software Inc.

    Constellation’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Constellation acquires, manages and builds vertical market software businesses.

    For further information:
    Jamal Baksh
    Chief Financial Officer
    (416) 861-9677
    info@topicus.com
    www.topicus.com

    SOURCE: TOPICUS.COM INC.

    NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    Topicus.com Inc.  
    Condensed Consolidated Interim Statements of Financial Position        
    (In thousands of euros, except per share amounts. Due to rounding, numbers presented may not foot.)
                           
    Unaudited                  
                      March 31, 2025 December 31, 2024 March 31, 2024
                           
    Assets                  
                           
    Current assets:                  
      Cash             296,307 206,157 254,599
      Accounts receivable           171,142 142,791 175,767
      Unbilled revenue           56,532 45,415 49,454
      Inventories             5,539 4,930 4,516
      Other assets             72,597 55,107 63,845
                      602,117 454,400 548,181
                           
    Non-current assets:                
      Property and equipment           24,913 23,245 21,363
      Right of use assets           79,736 75,666 63,054
      Deferred income taxes           17,961 19,905 20,326
      Equity securities           313,441 – –
      Other assets             11,026 11,983 13,437
      Intangible assets 992,114 950,670 947,417
                      1,439,190 1,081,470 1,065,598
                           
    Total assets             2,041,307 1,535,870 1,613,779
                           
    Liabilities and Shareholders’ Equity              
                           
    Current liabilities:                  
      Topicus Revolving Credit Facility and current portion of term and other loans 258,927 225,718 265,221
      Accounts payable and accrued liabilities         289,077 250,361 227,130
      Deferred revenue           378,732 166,593 343,430
      Provisions             2,381 2,582 1,535
      Acquisition holdback payables           17,353 13,073 13,808
      Lease obligations           25,042 23,629 21,338
      Income taxes payable           24,483 18,233 23,102
                      995,994 700,189 895,563
                           
    Non-current liabilities:                
      Term and other loans           53,140 49,300 62,973
      Deferred income taxes           153,437 145,911 148,142
      Acquisition holdback payables           14,750 10,061 7,690
      Lease obligations           55,895 53,188 42,748
      Other liabilities           52,734 45,825 36,017
                      329,957 304,285 297,570
                           
    Total liabilities             1,325,951 1,004,474 1,193,133
                           
                           
    Shareholders’ Equity:                
      Capital stock             39,412 39,412 39,412
      Accumulated other comprehensive income (loss)       98,780 5,584 3,016
      Retained earnings           291,061 266,281 192,136
      Non-controlling interests           286,103 220,119 186,082
                      715,356 531,396 420,646
                           
                           
                           
    Total liabilities and shareholders’ equity         2,041,307 1,535,870 1,613,779
                           
    Topicus.com Inc.            
    Condensed Consolidated Interim Statements of Income (Loss)        
    (In thousands of euros, except per share amounts. Due to rounding, numbers presented may not foot.)
                         
             
    Unaudited                
                    Three months ended March 31,
                    2025     2024  
                         
    Revenue                
    License           9,396     9,165  
    Professional services         82,305     75,005  
    Hardware and other         7,319     5,551  
    Maintenance and other recurring       256,575     216,848  
                    355,595     306,568  
    Expenses                
    Staff             197,889     173,116  
    Hardware           4,125     4,620  
    Third party license, maintenance and professional services   28,422     23,352  
    Occupancy           2,958     2,710  
    Travel, telecommunications, supplies, software and equipment   14,592     11,983  
    Professional fees           7,608     5,092  
    Other, net           5,626     4,305  
    Depreciation           9,376     8,012  
    Amortization of intangible assets       36,852     31,672  
                    307,448     264,861  
                         
    Impairment of intangible and other non-financial assets   –     633  
    Bargain purchase (gain)         –     (323 )
    Finance and other (income) expenses       (5,257 )   (473 )
    Finance costs           6,189     5,471  
                    931     5,309  
                         
    Income (loss) before income taxes       47,216     36,398  
                         
    Current income tax expense (recovery)       17,326     15,083  
    Deferred income tax expense (recovery)       (8,871 )   (6,998 )
    Income tax expense (recovery)         8,456     8,085  
                         
    Net income (loss)           38,761     28,314  
                         
    Net income (loss) attributable to:            
    Equity holders of Topicus         24,743     18,089  
    Non-controlling interests         14,018     10,225  
    Net income (loss)           38,761     28,314  
                         
    Weighted average shares              
      Basic shares outstanding         83,068,874     82,195,644  
      Diluted shares outstanding       129,841,819     129,841,819  
                         
    Earnings (loss) per common share of Topicus          
      Basic           0.30     0.22  
      Diluted           0.30     0.22  
                         
                         
    Topicus.com Inc.            
    Condensed Consolidated Interim Statements of Comprehensive Income (Loss)        
    (In thousands of euros, except per share amounts. Due to rounding, numbers presented may not foot.)
                         
             
    Unaudited        
                    Three months ended March 31,
                    2025   2024
                         
    Net income (loss)           38,761   28,314
                         
    Items that are or may be reclassified subsequently to net income (loss):        
                         
    Foreign currency translation differences from foreign operations and other   1,296   1,926
                         
    Items that will not be reclassified to net income (loss):        
                         
    Changes in the fair value of equity investments at FVOCI   143,886   –
                         
    Other comprehensive (loss) income for the period, net of income tax   145,182   1,926
                         
    Total comprehensive income (loss) for the period   183,942   30,240
                         
    Total other comprehensive income (loss) attributable to:        
    Equity holders of Topicus         93,197   625
    Non-controlling interests         51,985   1,301
    Total other comprehensive income (loss)       145,182   1,926
                         
    Total comprehensive income (loss) attributable to:        
    Equity holders of Topicus         117,940   18,714
    Non-controlling interests         66,003   11,526
    Total comprehensive income (loss)       183,942   30,240
    Topicus.com Inc.              
    Condensed Consolidated Interim Statement of Changes in Shareholders’ Equity (Deficiency)          
    (In thousands of euros, except per share amounts. Due to rounding, numbers presented may not foot.)  
                       
    Unaudited                
    Three months ended March 31, 2025              
                 
          Capital Stock Accumulated other comprehensive (loss) income Retained earnings Total Non-controlling interests Total equity  
                       
    Balance at January 1, 2025 39,412 5,584   266,281 311,277 220,119   531,396    
                       
    Total comprehensive income (loss) for the period:              
                       
    Net income (loss) – –   24,743 24,743 14,018   38,761    
                       
    Foreign currency translation differences from              
      foreign operations and other, net of income tax and              
      changes in the fair value of equity investments at FVOCI – 93,197   – 93,197 51,985   145,182    
                       
    Total other comprehensive income (loss)              
      for the period – 93,197   – 93,197 51,985   145,182    
                       
    Total comprehensive income (loss) for the period – 93,197   24,743 117,940 66,003   183,942    
                       
    Transactions with owners, recorded directly in equity              
                       
      Other movements in non-controlling interests and equity – (0 ) 37 37 18   55    
                       
      Dividends paid to non-controlling interests – –   – – (38 ) (38 )  
                       
    Balance at March 31, 2025 39,412 98,780   291,061 429,253 286,103   715,356    
                       
    Topicus.com Inc.            
    Condensed Consolidated Interim Statement of Changes in Shareholders’ Equity (Deficiency)        
    (In thousands of euros, except per share amounts. Due to rounding, numbers presented may not foot.)
                     
    Unaudited              
    Three months ended March 31, 2024            
                     
               
          Capital Stock Accumulated other comprehensive (loss) income Retained earnings Total Non-controlling interests Total equity
                     
    Balance at January 1, 2024 39,412 2,390 297,382   339,185   253,299   592,483  
                     
    Total comprehensive income (loss) for the period:            
                     
    Net income (loss) – – 18,089   18,089   10,225   28,314  
                     
    Other comprehensive income (loss)            
                     
    Foreign currency translation differences from            
      foreign operations and other, net of income tax – 625 –   625   1,301   1,926  
                     
    Total other comprehensive income (loss) for the period – 625 –   625   1,301   1,926  
                     
    Total comprehensive income (loss) for the period – 625 18,089   18,714   11,526   30,240  
                     
                     
    Transactions with owners, recorded directly in equity            
                     
      Other movements in non-controlling interests and equity – – 72   72   31   103  
                     
      Exchange of Topicus Coop ordinary units held by non-controlling interests to subordinate voting shares of Topicus – – 4,235   4,235   (4,235 ) –  
                     
      Dividends paid to shareholders of the Company – – (127,641 ) (127,641 ) –   (127,641 )
                     
      Dividends paid to non-controlling interests – – –   –   (74,539 ) (74,539 )
                     
    Balance at March 31, 2024 39,412 3,016 192,136   234,565   186,082   420,646  
                     
    Topicus.com Inc.            
    Condensed Consolidated Interim Statements of Cash Flows          
    (In thousands of euros, except per share amounts. Due to rounding, numbers presented may not foot.)  
                             
               
    Unaudited                    
                      Three months ended March 31,  
                      2025     2024    
                             
    Cash flows from (used in) operating activities:          
      Net income (loss)       38,761     28,314    
      Adjustments for:              
        Depreciation         9,376     8,012    
        Amortization of intangible assets   36,852     31,672    
        Impairment of intangible and other non-financial assets     –     633    
        Bargain purchase (gain)       –     (323 )  
        Finance and other expenses (income)     (5,257 )   (473 )  
        Finance costs       6,189     5,471    
        Income tax expense (recovery)   8,456     8,085    
      Change in non-cash operating assets and liabilities          
        exclusive of effects of business combinations   190,533     155,008    
      Transaction costs associated with equity securities classified as FVOCI     (1,659 )   –    
      Income taxes (paid) received   (11,803 )   (8,901 )  
      Net cash flows from (used in) operating activities   271,446     227,497    
                             
    Cash flows from (used in) financing activities:          
      Interest paid on lease obligations     (663 )   (457 )  
      Interest paid on other facilities     (4,708 )   (3,161 )  
      Net increase (decrease) in Topicus Revolving Credit Facility   30,000     105,000    
      Proceeds from issuance of term and other loans   18,010     816    
      Repayments of term and other loans   (10,585 )   (3,684 )  
      Credit facility transaction costs   (91 )   –    
      Payments of lease obligations     (6,828 )   (5,817 )  
      Dividends paid to non-controlling interests     (38 )   (74,539 )  
      Dividends paid to shareholders of the Company     –     (127,641 )  
      Net cash flows from (used in) in financing activities   25,098     (109,483 )  
                             
    Cash flows from (used in) investing activities:          
      Acquisition of businesses   (39,413 )   (36,542 )  
      Cash obtained with acquired businesses     7,934     7,024    
      Post-acquisition settlement payments, net of receipts   (6,299 )   (4,214 )  
      Purchase of equity securities of Asseco Poland S.A.     (167,977 )   –    
      (Increase) decrease in restricted cash     (425 )   (6,000 )  
      Interest, dividends and other proceeds received   255     –    
      Property and equipment purchased   (2,898 )   (2,655 )  
      Net cash flows from (used in) investing activities   (208,823 )   (42,386 )  
                             
    Effect of foreign currency on          
      cash and cash equivalents   2,428     (88 )  
                             
    Increase (decrease) in cash   90,150     75,540    
                             
    Cash, beginning of period   206,157     179,059    
                             
    Cash, end of period   296,307     254,599    
                             

    The MIL Network –

  • MIL-OSI: Kneat Announces Record Revenue for First Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    LIMERICK, Ireland, May 07, 2025 (GLOBE NEWSWIRE) — kneat.com, inc. (TSX: KSI) (OTC: KSIOF) (“Kneat” or the “Company”) a leader in digitizing and automating validation and quality processes, today announced financial results for the three months ended March 31, 2025. All dollar amounts are presented in Canadian dollars unless otherwise stated.

    • Total revenue reaches $14.7 million in the first quarter, an increase of 37% year over year
    • Annual Recurring Revenue (ARR)1 at March 31, 2025, reaches $63.5 million, an increase of 51% year over year
    • Gross profit and operating expense grow 38% and 21% respectively year over year as progress toward profitability continues

    “Kneat is off to a solid start in 2025, both in terms of continued strong growth and progress toward profitability.  We are encouraged by our customers’ continued intention to orchestrate their validation processes enterprise-wide; and we are committed to enhancing the Kneat Gx platform to help them complete their vision for efficiency, speed and trust in their validation processes.”

    – Eddie Ryan, Chief Executive Officer of Kneat. 

    Q1 2025 Highlights

    • Total revenues increased 37% to $14.7 million in the first quarter of 2025, compared to $10.8 million for the first quarter of 2024. 
    • SaaS revenue for the first quarter of 2025 grew 42% to $13.8 million, versus $9.7 million for the first quarter of 2024.
    • First-quarter 2025 gross profit was $10.9 million, up 38% from $7.9 million in gross profit for the first quarter of 2024.
    • Gross margin in the first quarter of 2025 was 74%, as it was in the first quarter of 2024. 
    • EBITDA1 in the first quarter of 2025 was $5.9 million, compared with ($0.5) million for the first quarter of 2024.
    • Adjusted EBITDA1 in the first quarter of 2025 was $2.3 million, compared with $0.6 million for the first quarter of 2024.
    • Total ARR1 was $63.5 million at March 31, 2025, an increase of 51% from $42.1 million at March 31, 2024.

    1 ARR is a supplementary measure. EBITDA and Adjusted EBITDA are non-IFRS measures and are not recognized, defined or standardized measures under IFRS. These measures are defined in the “Supplementary and Non-IFRS Measures” section of this news release.

    Recent Business Highlights

    • In January 2025, Kneat announced that it has partnered with Capgemini. The collaboration brings together Capgemini’s expertise in enterprise IT systems integration with Kneat’s digital validation platform, Kneat Gx. The partnership is designed to enable life sciences companies to seamlessly deploy Kneat Gx enterprise-wide; connect with core systems such as ERP, QMS, and DMS; and scale digital validation processes with ease.
    • Also in January 2025, Kneat announced that a European-headquartered leader in specialty therapeutics selected Kneat for commissioning, qualification and validation of its manufacturing equipment and facilities.
    • In February 2025, Kneat announced that a European-headquartered global consumer products company selected Kneat to digitize its validation processes within a specialized health sciences division.
    • In April 2025, Kneat announced that a multinational producer of generic pharmaceuticals signed a Services Agreement with Kneat to digitalize its drawing management process.
    • In May 2025, Kneat saw record attendance at VALIDATE, its annual event convening validation and quality professionals from around the world.  One of the world’s largest events for validation experts to discover, share and apply validation technologies, regulations, and best practices, VALIDATE enabled participants to witness the power of the Kneat Gx platform.
    • Also in May 2025, Kneat announced the expansion of its executive leadership team with the addition of a Chief Innovation Officer Role. Co-founder and Chief Product Officer Kevin Fitzgerald will transition out of his current role and into the Chief Innovation Officer role on June 9. Donal O’Sullivan, an executive with extensive software development and product management leadership, will join Kneat at that time as Chief Product Officer.

    “Kneat closed the quarter with ample cash and a strong balance sheet. Our high-retention customer base continues to grow, and we remain confident in our financial outlook.”

    – Hugh Kavanagh, Chief Financial Officer of Kneat. 

    Quarterly Conference Call

    Eddie Ryan, Chief Executive Officer of Kneat, and Hugh Kavanagh, Chief Financial Officer of Kneat, will host a conference call to discuss Kneat’s first quarter of 2025 results and hold a Q&A session for analysts and investors via webcast on May 08, 2025, at 9:00 a.m. ET.

    Interested parties can register for the live webcast via the following link:

    Register Here

    Supplementary and Non-IFRS Financial Measures

    The Company uses supplementary financial measures as key performance indicators in its MD&A and other communications. Management uses both IFRS measures and supplementary, non-IFRS financial measures as key performance indicators when planning, monitoring and evaluating the Company’s performance.

    Annual Recurring Revenue (“ARR”)

    Kneat management use ARR to evaluate and assess the Company’s performance, identify trends affecting its business, formulate financial projections and make financial decisions. The Company believes that ARR is a useful metric for investors as it provides a measure of the value of the recurring revenue at a point in time (end date of the relevant quarter). ARR is based on signed agreements and indicates the level of recurring revenue that the Company would anticipate reporting in a 12-month period based on the full agreed annual SaaS and maintenance fees for existing customers. In specific circumstances, the Company may utilize pricing incentives for limited contract periods. ARR is used by Kneat to assess the expected recurring revenues from the customers that are live on the Kneat Gx platform at the end of the period. ARR is calculated using the licenses delivered to customers at the period end, multiplied by the expected customer retention rate of 100% and multiplied by the full annual SaaS license or maintenance fee. Since many of the customer contracts are in currencies other than the Canadian dollar, the Canadian dollar equivalent is calculated using the related period end exchange rate multiplied by the contracted currency amount.

    Earnings before Interest, Taxes, Depreciation and Amortization (“EBITDA”)

    EBITDA is calculated as net income (loss) attributable to kneat.com excluding interest income (expense), provision for income taxes, depreciation and amortization. We provide and use this non-IFRS measure of our operating performance to highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures and to inform financial comparisons with other companies. A reconciliation of EBITDA to IFRS financial measures is provided in the financial statements accompanying this press release.

    Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”)

    Adjusted EBITDA is calculated as net income (loss) attributable to kneat.com excluding interest income (expense), provision for income taxes, depreciation and amortization, foreign exchange gain (loss) and stock-based compensation expense. We provide and use this non-IFRS measure of our operating performance to highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures and to inform financial comparisons with other companies. A reconciliation of Adjusted EBITDA to IFRS financial measures is provided in the financial statements accompanying this press release.

    About Kneat

    Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. As an industry leader in customer satisfaction, Kneat boasts an excellent record for implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end-to-end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies show up to 40% reduction in documentation cycle times, up to 20% faster speed to market, and a higher compliance standard.

    Cautionary and Forward-Looking Statements

    Except for the statements of historical fact contained herein, certain information presented constitutes “forward-looking information” within the meaning of applicable Canadian securities laws. Such forward-looking information includes, but is not limited to, the relationship between Kneat and the customer, Kneat’s business development activities, the use and implementation timelines of Kneat’s software within the customer’s validation processes, the ability and intent of the customer to scale the use of Kneat’s software within the customer’s organization, our ability to win business from new customers and expand business from existing customers, our expected use of the net proceeds from the IPF Facility and the public equity financing completed in both February and October 2024 and the anticipated effects thereof on the business and operations of the company, and the compliance of Kneat’s platform under regulatory audit and inspection. These and other assumptions, risks and uncertainties may cause Kneat’s actual results, performance, achievements and developments to differ materially from the results, performance, achievements or developments expressed or implied by forward-looking statements.

    Material risks and uncertainties relating to our business are described under the headings “Cautionary Note Regarding Forward-Looking Statements and Information” and “Risk Factors” in our MD&A dated May 7, 2025, under the heading “Risk Factors” in our Annual Information Form dated February 26, 2025 and in our other public documents filed with Canadian securities regulatory authorities, which are available at www.sedarplus.ca. Forward-looking statements are provided to help readers understand management’s expectations as at the date of this release and may not be suitable for other purposes. Readers are cautioned not to place undue reliance on forward-looking statements. Kneat assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by law. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investor’s own risk.

    For further information:

    Katie Keita, Kneat Investor Relations
    P: + 1 902-706-9074
    E: katie.keita@kneat.com

     
    Unaudited Condensed Interim Consolidated Statements of Income/(Loss) and Comprehensive Income/(Loss)
                 
        Three-month
    period ended
    March 31, 2025    		     Three-month
    period ended
    March 31, 2024    		  
        $     $  
    Revenue        
    SaaS license fees   13,805,973     9,718,501  
    Maintenance fees   22,095     70,589  
    Professional services and other   919,573     977,910  
    Total Revenue   14,747,641     10,767,000  
             
    Cost of revenue   (3,823,145 )   (2,834,015 )
    Gross profit   10,924,496     7,932,985  
    Gross margin   74%     74%  
             
    Expenses        
    Research and development   (4,698,665 )   (4,045,548 )
    Sales and marketing   (5,116,477 )   (4,031,684 )
    General and administrative   (2,511,629 )   (2,105,589 )
    Total Expenses   (12,326,771 )   (10,182,821 )
             
    Operating loss   (1,402,275 )   (2,249,836 )
             
    Finance expense   (888,545 )   (867,451 )
    Interest income   198,639     35,076  
    Foreign exchange gain (loss)   4,262,600     (238,763 )
    Income (loss) before income taxes   2,170,419     (3,320,974 )
    Income tax expense   (24,430 )   (15,887 )
    Net income (loss) for the period   2,145,989     (3,336,861 )
             
    Other comprehensive (loss) income        
    Foreign currency translation adjustment to presentation currency   (1,998,521 )   190,894  
    Comprehensive income (loss) for the period   147,468     (3,145,967 )
    Earnings (loss) per share: Basic and diluted   0.02     (0.04 )
             
    Weighted-average number of common shares outstanding:        
    Basic   94,221,072     81,005,029  
    Diluted   97,738,261     81,005,029  
             
    Reconciliation:        
    Net income (loss) for the period   2,145,989     (3,336,861 )
    Finance expense   888,545     867,451  
    Interest income   (198,639 )   (35,076 )
    Income tax expense   24,430     15,887  
    Depreciation charge   177,001     191,221  
    Amortization of intangible assets charge   2,846,747     1,834,211  
    EBITDA   5,884,073     (463,167 )
             
    Adjustments to EBITDA        
    Foreign exchange gain/loss   (4,262,600 )   238,763  
    Stock based compensation   697,019     812,173  
    Adjusted EBITDA   2,318,492     587,769  
                 
     
    kneat.com, inc.
    Unaudited Condensed Interim Consolidated Statements of Financial Position
                 
        March 31, 2025     December 31, 2024  
        $     $  
    Assets            
                 
    Current assets            
    Cash   74,132,378     58,889,572  
    Amounts receivable   10,958,849     18,377,009  
    Prepayments   2,081,208     1,870,095  
                 
        87,172,435     79,136,676  
    Non-current assets            
    Amounts receivable   3,544,947     2,368,006  
    Property and equipment   6,914,606     6,782,179  
    Intangible asset   39,158,433     36,290,869  
                 
    Total Assets   136,790,421     124,577,730  
                 
    Liabilities            
                 
    Current liabilities            
    Accounts payable and accrued liabilities   9,080,206     8,580,104  
    Contract liabilities   31,037,419     21,631,416  
    Loan payable   5,122,755     4,116,723  
    Lease liabilities   386,207     434,096  
                 
        45,626,587     34,762,339  
    Non-current liabilities            
    Contract liabilities   42,339     33,393  
    Loan payable and accrued interest   18,384,423     19,038,203  
    Lease liabilities   5,800,955     5,671,952  
                 
                 
    Total Liabilities   69,854,304     59,505,887  
                 
    Equity            
    Shareholders’ equity   66,936,117     65,071,843  
                 
    Total Liabilities and Equity   136,790,421     124,577,730  
                 
     
    kneat.com, inc.
    Unaudited Condensed Interim Consolidated Statement of Cash Flows
                 
        Three-month
    period ended
    March 31, 2025    		     Three-month
    period ended
    March 31, 2024    		  
    Operating activities   $     $  
    Net income (loss) for the period   2,145,989     (3,336,861 )
    Charges to loss not involving cash:        
    Depreciation of property and equipment   177,001     191,221  
    Share-based compensation   697,019     812,173  
    Interest expense   842,563     867,451  
    Tax expense   24,430     15,887  
    Amortization of the intangible asset   2,846,747     1,834,211  
    Amortization of loan issuance costs   45,982     36,957  
    Foreign exchange (gain) loss   (4,262,600 )   238,763  
    Increase in non-current contract liabilities   7,553     58,319  
    Net change in non-cash operating working capital related to operations   14,951,929     7,684,397  
             
    Net cash provided by operating activities   17,476,613     8,402,518  
             
    Financing activities        
    Proceeds received from public equity financing   –     20,000,110  
    Share issuance costs associated with public equity financing   –     (1,626,257 )
    Payment of principal and interest on loans payable   (1,348,282 )   (621,996 )
    Proceeds from the exercise of stock options   774,591     641,700  
    Repayment of lease liabilities   (192,894 )   (181,158 )
             
    Net cash (used in)/provided by financing activities   (766,585 )   18,212,399  
             
    Investing activities        
    Additions to the intangible asset   (5,157,268 )   (4,515,850 )
    Additions to property and equipment   (62,917 )   (8,163 )
    Collection of research and development tax credits   1,850,702     –  
             
    Net cash used in investing activities   (3,369,483 )   (4,524,013 )
             
    Effects of foreign exchange rates on cash   1,902,261     164,519  
             
    Net change in cash during the period   15,242,806     22,255,423  
             
    Cash – Beginning of period   58,889,572     15,252,526  
             
    Cash – End of period   74,132,378     37,507,949  
                 

    The MIL Network –

  • MIL-OSI Russia: Beijing to host first World Humanoid Robot Games

    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

    BEIJING, May 7 (Xinhua) — China’s capital Beijing will host the 2025 World Robot Conference and the first World Humanoid Robot Games in August, it was announced at a press conference on Wednesday.

    The Robotics Conference will run from August 8 to 12, and the Games from August 15 to 17. These events will showcase cutting-edge advances in robotics and foster greater global collaboration in the industry.

    According to the organizers, in 2025 the program of the World Robotics Conference includes forums, exhibitions and networking events, where about 200 specialized companies will present their latest developments.

    Vice Chairman of the Board and Secretary General of the China Electronics Society Chen Ying noted the expansion of international participation. More than 30 international organizations, over 30 world-renowned experts and over 100 international teams are expected to take part in the events. The share of foreign exhibitors will exceed 20 percent.

    The core program of the games, the world’s first multi-discipline competition for humanoid robots, will include tests of their athletic and functional skills in such disciplines as track and field, football, dance, carrying objects and sorting medicine. Additional competitions in badminton, table tennis and basketball will emphasize entertainment and interaction with spectators.

    According to Jiang Guangzhi, head of the Beijing City Bureau of Economy and Information Technology, the games will demonstrate how close robots’ capabilities are to the human ideal. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: China issues emergency response and disaster warnings

    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

    BEIJING, May 7 (Xinhua) — Chinese authorities on Wednesday issued an emergency response and several warnings over impending or possible natural disasters.

    China’s National Meteorological Center (NMC) issued a blue alert for heavy rain and severe convective phenomena, while the China Meteorological Administration (CMA) issued a level 3 emergency response for meteorological disasters.

    According to the NMC forecast, from 20:00 on May 7 to 20:00 on May 8, thunderstorms, gales and hail are expected in some parts of the Inner Mongolia Autonomous Region, the provinces of Jilin, Liaoning, Hebei, Shanxi, Anhui, Hubei, Guizhou, Hunan and Jiangxi, as well as the centrally subordinate municipalities of Beijing and Chongqing. In addition, winds with a force of over 11 on the Chinese scale (28.5-32.6 meters per second) are forecast in some areas of the provinces of Hunan, Jiangxi, Guizhou and the city of Chongqing.

    The Ministry of Water Resources of China jointly with the CMU issued a yellow alert due to the threat of mountain torrents in some areas of Anhui, Jiangxi, Henan, Hubei and Hunan provinces.

    In addition, a yellow alert was issued on Wednesday for meteorological risks of geological disasters, with relatively high risks observed in parts of Anhui, Guangdong, Guizhou and Guangxi Zhuang Autonomous Region.

    Local authorities are instructed to closely monitor weather conditions in real time, issue early warnings of possible flooding and carry out evacuation measures if necessary, while the population is advised to take precautions when in risky areas.

    China has a four-tier weather warning system, with red representing the highest level of danger, followed by orange, yellow and blue. The emergency response system also has four levels, with level 1 being the most serious. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Breaking: US Federal Reserve leaves interest rate unchanged at 4.25-4.5 percent

    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

    Xinhua | 08. 05. 2025

    Keywords: us fed, level, percent, left, changes, rate, urgently, president donald trump, slowing economic growth, background of expectations, federal funds, administration policy, increasing inflation, rate range, fed, us

    WASHINGTON, May 7 (Xinhua) — The U.S. Federal Reserve on Wednesday left its target range for the federal funds rate unchanged at 4.25 percent to 4.5 percent amid expectations that the Trump administration’s tariff policies will lead to higher inflation and slower economic growth. –0–

    Source: Xinhua

    Breaking News: US Federal Reserve Leaves Interest Rate Unchanged at 4.25-4.5 Percent Breaking News: US Federal Reserve Leaves Interest Rate Unchanged at 4.25-4.5 Percent

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