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Category: Europe

  • MIL-OSI United Kingdom: Ambitious Fleet Decarbonisation Strategy approved by Councillors

    Source: Scotland – City of Perth

    The Climate Change and Sustainability Committee considered the local authority’s Fleet Decarbonisation Strategy.

    The Council has already slashed carbon emissions by switching 18 of its refuse vehicles to Hydrotreated Vegetable Oil rather than diesel – delivering an estimated annual reduction in CO2 emissions of 500 tonnes.

    Now the Council is looking to build on this success by using new technologies to further reduce the emissions from its vehicles.

    The Fleet Decarbonisation Strategy states a mixed model of decarbonisation will be required, with HVO and diesel used until advances in technology increase the range of electric vehicles,or enable hydrogen to be used as a viable and affordable fuel source.

    Refuse Collection Vehicles (RCVs) based at outlying depots in Blairgowrie, Crieff, Kinross, and Pitlochry will transition to using HVO fuel by June 2025, potentially saving 725 tonnes of CO2 per annum.

    The report also sets out the need to invest in additional charging points to support the transformation of the council’s fleet of small vehicles – cars and vans under 3.5 tonnes – to electric vehicles.

    Councillor Richard Watters, convener of Perth and Kinross Council’s Climate Change and Sustainability Committee, said: “The Scottish Government has set a target of reducing greenhouse gas emissions within the next five years and reaching net zero by 2045.

    “Cars, vans and lorries all produce greenhouse gases, so it is vital we take steps to reduce these emissions.

    “There is already fantastic work underway in Perth and Kinross with many of our bin lorries now running on HVO instead of diesel. Although this is a more expensive fuel, it is already significant reducing our CO2 emissions.

    “Expanding this scheme, and remaining alert to other new technologies will help us meet our net zero targets and reduce pollution in Perth and Kinross. This is not something that will happen overnight, but it is crucial we set out a roadmap on how we reach that destination.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Greens unveil plan to end rip-off rents

    Source: Scottish Greens

    05 May 2025 Housing

    Housing is for living in, not for grotesque profiteering.

    More in Housing

    Scotland needs robust rent controls that will save renters money, say the Scottish Greens who have published plans to end rip-off rents with their proposals in the upcoming Housing (Scotland) Bill.

    Independent analysis from the Scottish Parliament Information Centre shows that renters in a two bedroom flat would have saved at least £1000 per year if the model proposed by the Greens had been in place since 2019. It shows that someone renting a two-bedroom property in Lothian would now be at least £272 a month better off.

    Amendments lodged by the Scottish Greens would mean that rent will increase no more than the cost-of-living or increases in wages. And for those areas where rents are already too high, Councils could put in place lower increases, freezes or rent reductions.

    Along with proposals to end winter evictions, allowing tenants to withhold rent for poor quality properties, and to force absentee landlords to sell derelict properties for housing, Greens are working to ensure that everyone has a warm, safe and affordable home.

    Scottish Green MSP Maggie Chapman said:

    “Nobody should be put in a position where the lion’s share of their income is being spent on paying rent, leaving them with very little left to pay for food, heating and electricity bills, or to simply enjoy their lives.

    “All parties agree that we are in a housing emergency, but we need to start acting like it. The proposals we have published will ensure a robust system of rent controls that will support tenants and end rip off rents.

    “Our proposals would give stability to households and families on the frontline of the crisis, and make sure rents are fairer across the board going forward.

    “By tying rents to average earnings, we are establishing an important principle that rents should not rise faster than renters’ ability to pay.

    “Homes are for living in, not for grotesque profiteering. The Housing Bill was introduced by the Scottish Greens. It gives us the opportunity to transform the broken housing market and protect renters all across our country.”

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Polytechnic University hosted an educational online forum for future masters

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The Peter the Great St. Petersburg Polytechnic University held an online educational forum for future masters, attended by students from all over Russia. The event was traditionally organized by the SPbPU Applicant Work Center.

    The forum was held online for the fifth time, which allowed to attract participants from different regions of the country. More than 500 applications were received, and 470 people successfully completed the program. Students were able to listen to lectures, ask questions and get advice on further education and career.

    Leonid Potapov, Head of the ITAT Training System Development Program of the Gazprom Neft Information Technology, Automation and Telecommunications Department, spoke at the opening of the forum. He spoke about the development of IT competencies in modern business and shared the company’s view on the training of young specialists.

    The forum program covered key areas of training at the Polytechnic University — from high-tech engineering specialties and applied biotechnology to economics, management, and the humanities. Participants not only learned about modern challenges in their fields, but also had the opportunity to gain a deeper understanding of the nuances of future professions. Various master classes and interactive sessions were organized for this purpose.

    Particular attention was paid to preparing for the portfolio competition, one of the tools for admission to the Polytechnic University Master’s program. Thanks to it, applicants’ achievements are taken into account during admission: participation in forums, publications, research activities, professional experience, etc. The points scored can significantly increase the chances of admission to the chosen educational program. Participation in the forum and successful completion of tasks provide an opportunity to receive additional points for the portfolio.

    We strive to create the most comfortable conditions for students to make a conscious choice of their educational trajectory. The success of applicants in their professional career depends on how carefully they approach the choice of a master’s program. The forum helps future master’s students better understand what area they want to develop in and what direction to build their career in, – noted the project manager, leading analyst of the Directorate of Continuing Education and Industry Partnership Natalia Ivanova.

    Over the course of four intense days, participants worked with theoretical materials, analyzed real cases, and learned practical solutions from industry experts. Students learned to identify errors, develop recommendations, and offer their own options for project development. This practical focus significantly increased the level of involvement of participants and prepared them for the possible challenges that await them on their professional path.

    Following the forum, 238 participants became winners of the competition tasks and will receive an additional 45 points when entering the Polytechnic University Master’s program.

    The forum turned out to be an excellent opportunity to get acquainted with current trends in various industries and understand which competencies are most in demand today. Practical tasks for solving a case were especially useful and exciting for me, since they gave the opportunity to immediately apply the acquired knowledge in practice, – noted forum participant Maria Korchevnyuk.

    The forum became not only an important stage in the preparation of future masters, but also a platform for the exchange of experience and ideas, which will undoubtedly serve as the basis for the further professional growth of its participants.

    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-Evening Report: View from The Hill: a budding Trump-Albanese bromance?

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    It took an election win, but Anthony Albanese on Monday finally received that much-awaited phone call from US President Donald Trump.

    The conversation was “warm and positive,” the prime minister told a news conference, thanking the president for “reaching out”.

    “I won’t go into all of the personal comments that he made, but he was very generous in his personal warmth and praise towards myself. He was fully aware of the [election] outcome and he expressed the desire to continue to work with me in the future.”

    While they talked about tariffs (as well as AUKUS), the detailed engagement on that sensitive matter was left for later.

    Trump, as they say, loves a winner.

    When asked earlier in Washington about the Australian election, Trump said he was “very friendly” with Albanese.

    “I don’t know anything about the election other than the man that won, he’s very good, he’s a friend of mine,” the president said. Albanese had been “very, very nice to me, very respectful to me.

    “I have no idea who the other person is that ran against him.” There’s more than a touch of irony in this, given all the effort by the government and his other opponents to paint Peter Dutton as “Trump-lite”.

    The prime minister is likely to meet Trump soon, perhaps in June. Albanese has been invited to the G7 meeting in Canada. Trump may or may not be there but a meeting could be arranged around this.

    On the tariff front, the government is readying to defend the local film industry, after Trump announced a 100% tariff on all movies going into the United States.

    Arts Minister Tony Burke said: “Nobody should be under any doubt that we will be standing up unequivocally for the rights of the Australian screen industry.”

    Indonesia to be Albanese’s first foreign visit of new term

    Albanese announced his first overseas visit would be to Indonesia. This will be a particularly important visit, given the significance of the bilateral relationship and the recent Russian request (which Indonesia rejected) to base planes in Papua.

    Indonesian President Prabowo Subianto congratulated Albanese on his win in a call on Sunday.

    In the call, Albanese asked the president to host his first overseas visit, and the president said it would be “a great honour” to do so.

    Meanwhile, in the next few days Labor’s factions will be jostling over the spoils of victory. The factions work out broadly the membership of the frontbench, but Albanese, given he has massive authority with the huge win, will be able to impose his will in this process where he wants to do so. The prime minister allocates the portfolios.

    Although there will be changes, Labor sources are expecting substantial continuity between the old and new ministries, especially at the higher level.

    Albanese has previously confirmed top cabinet members, notably Treasurer Jim Chalmers, Foreign Minister Penny Wong, Defence Minister Marles, Finance Minister Katy Gallagher and Trade Minister Don Farrell, will remain in their present ministries.

    Most interest is in whether Environment Minister Tanya Plibersek is moved. Albanese would not say, when asked during the campaign, whether she would remain in environment although he confirmed she would stay in cabinet. Albanese and Plibersek have had a poor relationship over decades. She had expected to become education minister after the last election and was shocked to be given the environment portfolio/

    Albanese told his news conference “I want Labor to be the natural party of government”.

    Knife out for Angus Taylor

    What goes around comes around. Outgoing NSW Liberal senator Hollie Hughes, who blamed shadow treasurer
    Angus Taylor for her loss of preselection because he endorsed the candidate who beat her, has unleashed on Taylor’s leadership aspirations.

    Hughes told the ABC on Monday she would not support Taylor to be the next leader.

    She said the opposition’s economic narrative “was just completely non-existent. I’m not quite sure what [Taylor has] been doing for three years.

    “There was no tax plan, I think the economic team has significantly let down the parliamentary team, it’s let down our membership, it’s let down our supporters and it’s let down people in Australia broadly – the fact they had nothing to sell, nothing to say, and clearly had not done the work that was required.”

    She said deputy leader Sussan Ley had done “a fantastic job over the past three years and I’m hopeful that she will definitely still be part of our leadership.”

    Four names are in the mix for the successor to Peter Dutton, who lost his seat of Dickson in Saturday’s rout. They are Taylor, Ley, immigration spokesman Dan Tehan and defence spokesman Andrew Hastie. None has yet declared their candidature.

    Hastie told The West Australian at the weekend, “I certainly want to be able to drive change within the party itself and what that looks like will be up to my colleagues to determine”.

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

    – ref. View from The Hill: a budding Trump-Albanese bromance? – https://theconversation.com/view-from-the-hill-a-budding-trump-albanese-bromance-255619

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Europe: To safeguard human rights we must protect civic space and the right to peaceful assembly, OSCE leaders say

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: To safeguard human rights we must protect civic space and the right to peaceful assembly, OSCE leaders say

    Youth protesting (Shutterstock/Eugenio Marongiu)

    VIENNA, 5 May 2025 – A vibrant civic space in which everyone contributes to public and political life is increasingly challenged by growing threats to freedom of peaceful assembly and severe challenges faced by human rights defenders through discreditation, criminalization, and direct attacks, OSCE leaders said as a two-day conference began today. 
    Almost 300 participants from across the OSCE region registered for the meeting in Vienna, which brings together representatives of OSCE states, international organizations, civil society and human rights defenders to discuss current trends and challenges as well as good practices and lessons learnt in ensuring respect for the freedom of peaceful assembly and the protection of human rights defenders.
    “Human rights defenders speak out for those who are most vulnerable, under attack, or unable to speak for themselves. They do this despite the risks to their lives and personal safety,” said Ambassador Vesa Häkkinen, Finland’s Permanent Representative to the OSCE and Chair of the Permanent Council. “In this tense security environment, independent and steadfast work for democracy and human rights is especially needed, and it is important that the OSCE provides space for civil society to speak up and be heard.”
    While the work of human rights defenders and full enjoyment of the right to freedom of peaceful assembly are widely recognized as essential in a democratic society, practice shows that civic space is shrinking in numerous countries across the OSCE region. Human rights defenders face serious challenges to their work and their personal safety, both those working in their home countries and those in exile. At the same time, restrictions to freedom of peaceful assembly are increasing, and authorities fail to recognize or safeguard this fundamental right.
    “Ensuring respect for every individual’s right to freedom of peaceful assembly is a commitment made by all OSCE countries,” said ODIHR Director Maria Telalian. “And yet the growing restrictions on peaceful protests are a visible trend across the region, while civil society and human rights defenders face numerous and increasing obstacles in carrying out their important work.”
    For too many human rights defenders, intimidation and sometimes physical violence are an everyday occurrence. The number of so‑called “foreign agent” laws, both in force and in the making, has surged in the OSCE region, adding to the discreditation and stigmatization of human rights defenders, and putting them at further risk. Human rights defenders are increasingly finding themselves and their activities criminalized and censored and their rights to freedom of expression, assembly and association unlawfully restricted, massively impacting their ability to work.
    Key topics of the discussions will therefore be to explore effective ways of safeguarding civic space for the future, how to strengthen respect for the rights of peaceful protestors, independent monitors of assemblies, and human rights defenders, as well as how to better respond to the challenges they face in their work and how to strengthen support and protection of human rights defenders in practice.
    Freedom of peaceful assembly is a cornerstone of democratic societies and a fundamental human freedom, which OSCE participating States have committed to guarantee without discrimination. The right to defend human rights is also firmly anchored in the commitments made by all OSCE states to uphold democratic principles, including the right of every individual to seek assistance and assist others in defending human rights, and the need to protect human rights defenders and their important work.
    Supplementary Human Dimension Meetings are a platform for the OSCE’s participating States and OSCE institutions, as well as international organizations and civil society, to exchange views and good practices in order to find common solutions for the challenges facing societies across the OSCE region. Today’s discussion is the second SHDM of 2025, following a first meeting to discuss the role of media in conflict and humanitarian crises against the background of international humanitarian and human rights law. There is one more SHDM planned for this year.

    MIL OSI Europe News –

  • MIL-OSI Europe: Enhancing Military Transparency: International Seminar on the Vienna Document 2011 was held in Almaty as part of Confidence and Security-Building Measures

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: Enhancing Military Transparency: International Seminar on the Vienna Document 2011 was held in Almaty as part of Confidence and Security-Building Measures

    Enhancing Military Transparency: International Seminar on the Vienna Document 2011 was held in Almaty as part of Confidence and Security-Building Measures | OSCE
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    MIL OSI Europe News –

  • MIL-OSI: Artea – new name of Šiaulių Bankas

    Source: GlobeNewswire (MIL-OSI)

    On May 5, 2025, Artea Bank will officially begin operations. This marks a historic and strategic transformation, as Šiaulių Bankas adopts a new name after more than 30 years of serving the Lithuanian market. The bank has also introduced new equity ticker on the Nasdaq Baltic Exchange: ROE1L.

    “We are turning a new page in our history, inspired by the trust shown to us by businesses, consumers and investors. Our ambition is to become the best bank in Lithuania and the first choice for the residents and corporations. The new name is a strategic decision that will strengthen our ability to achieve this goal.

    This decision has been maturing for some time, and we feel that now is the best time to proceed, as we have grown into a universal bank specializing in the Lithuanian market and we intend to continue develop our business in this direction,” says Vytautas Sinius, Chief Executive Officer of Artea Bank.

    From now on, the bank will unite all of the group companies – asset management, life insurance, consumer credit, and multi-apartment modernization funds – under one brand Artea. The new website address is www.artea.lt.

    The name Artea deliberately combines elements that convey the bank’s vision and commitment to being closer to its customers through a modern form and national identity.

    Artea emphasizes accessible, flexible and modern banking services for corporate and private customers.

    The rebranding is part of the bank’s updated strategy for 2024–2029. The bank announced the name change publicly in early March, 2025 prior to the general meeting of shareholders and on March 31 the general meeting of shareholders unanimously approved the decision to change the name to Artea Bank. On May 5, 2025 the bank’s articles of association with the new name were registered in the Register of Legal Entities of Lithuania, and Šiaulių Bankas officially became Artea Bank.

    Artea remains the largest independently owned bank in Lithuania. The bank’s main shareholders  – Lithuanian business leaders Invalda INVL, Tesonet Global, Willgrow, and the international European Bank for Reconstruction and Development (EBRD) – remain unchanged.

    If you would like to receive Artea Bankas news for investors directly to your inbox, subscribe to our newsletter.

    Additional information:
    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@artea.lt , +370 610 44447

    The MIL Network –

  • MIL-OSI: Municipality Finance issues a GBP 50 million tap under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    5 May 2025 at 10:00 am (EEST)

    Municipality Finance issues a GBP 50 million tap under its MTN programme

    On 6 May 2025 Municipality Finance Plc issues a new tranche in an amount of GBP 50 million to an existing benchmark issued on 7 March 2024. With the new tranche, the aggregate nominal amount of the benchmark is GBP 550 million. The maturity date of the benchmark is 2 October 2028. The benchmark bears interest at a fixed rate of 4.375 % per annum.

    The new tranche is issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 6 May 2025. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.

    UBS Europe SE acts as the Dealer for the issue of the new tranche.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland.
    The Group’s balance sheet is over EUR 53 billion.

    MuniFin builds a better and more sustainable future with its customers. Our customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI United Kingdom: Finding ‘Your Voice, Your Strength’ this Maternal Mental Health Awareness Week

    Source: City of Wolverhampton

    Around 1  in 5 women experience a mental health problem during pregnancy or within the early postnatal years.

    The national campaign, organised by the Maternal Mental Health Alliance, aims to raise awareness and change attitudes towards mental health problems in the perinatal period, and support people to access the information they need to help their mental health during this time.

    The theme for this year’s campaign is ‘Your Voice, Your Strength’.

    Councillor Jasbir Jaspal, the City of Wolverhampton Council’s Cabinet Member for Adults and Wellbeing, said: “Being pregnant and becoming a new parent is a life changing event. It is normal for new parents to feel a variety of emotions during this time.

    “If you’re feeling low and it’s starting to affect your everyday life, there are a range of things you can do that may help, so please don’t suffer in silence. Talk to your family and friends and share your concerns – they may be able to help you find more support. Across the city, there is a range of mental health and emotional wellbeing support services available for expectant and new parents.

    “Speak to your midwife, health visitor or attend your local Family Hub if you have any concerns. They can provide you with lots of advice and information about local groups and specialist services that can support you and your wellbeing.”

    The Family Hubs Parent and Infant Wellbeing Team offer a range of weekly activities to help parents with their wellbeing and build positive bonds with their infants, including Baby Massage, Baby & Me wellbeing group, coffee mornings and 121 befriending. To find out more, email  FHParent.InfantWBTeam@wolverhampton.gov.uk.

    Anyone with concerns about their mental health and wellbeing should contact:

    • Black Country Healthcare NHS Foundation Trust’s 24-hour helpline on 0800 008 6516 or text 07860 025281, or
    • Health Visiting Single Point of Access (SPoA) Hub on 01902 441057
    • Your local Family Hub Family Hubs | City Of Wolverhampton Council.

    The Healthy Child Wolves app is also packed with tips, guidance and signposting to support families, including advice on looking after your emotional health and wellbeing. The app is available to download for free from the App Store.

    For more information on good mental health during pregnancy, visit the NHS website at Mental health in pregnancy and Your mental health.

    To find out more about please visit Maternal Mental Health Awareness Week.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: We must not forget about the brotherhood of Russia and China – WWII veteran

    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

    St. Petersburg, May 5 (Xinhua) — Mutual assistance between the Russian and Chinese peoples during World War II was of great importance for the victory, WWII veteran Alexei Ivanovich Ionov told a Xinhua News Agency correspondent.

    He spoke about being a private during World War II and taking part in battles against Japanese troops in the Far East. The 98-year-old veteran has painful memories of the war and hopes that his three grandchildren and three great-grandchildren will live in a peaceful and safe future.

    “War is the same for everyone, it is a horror that I do not wish on anyone to experience,” he said.

    A. Ionov believes that China is a strong country that brings much benefit to the world. No less important is the fact that China has been a friend of Russia for a long time. Therefore, new generations should not forget both the feat of soldiers and the brotherhood of the peoples of Russia and China. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: At least 20 Palestinians killed in Israeli attacks in Gaza – Civil Defense

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    GAZA, May 5 (Xinhua) — Israeli airstrikes in the Gaza Strip killed at least 20 Palestinians, including women and children, on Sunday, local authorities said, amid intensified ground and air operations, continued shelling and drone attacks on residential areas.

    At least 11 people, including seven women and three children, were killed in an airstrike on a tent housing displaced families in the al-Mawasi area west of Khan Yunis, Mahmoud Basal, a spokesman for the Palestinian Civil Defense in Gaza, told Xinhua. Four more people from the same family were killed earlier in the day in the same area.

    In another area of Khan Yunis, a woman was killed and others were wounded as a result of shelling of a residential building in the Al-Amal area. Another strike on a tent near Abasan al-Kabira killed a young man and wounded several others, Basal said.

    In central Gaza, one woman was killed and several people were wounded when a drone struck the home of the Abu Huwaishel family in the Nuseirat refugee camp. Northern Gaza was also hit, with one man killed, his wife and others wounded in a drone strike on Al-Nakheel Street in the At-Tuffah neighborhood of Gaza City.

    According to M. Basal, rescuers have recovered the body of another victim of the attack on the school in Beit Hanoun.

    Eyewitnesses reported continued Israeli bombing and helicopter gunship attacks on residential buildings in both the northern and southern parts of the enclave. Artillery and air strikes also hit homes in the Shujaiya and At-Tuffah neighborhoods. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Exclusive: Russia and China continue to coordinate positions on all global issues – Director of IKS RAS K. Babaev

    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

    Moscow, May 5 /Xinhua/ — In today’s turbulent international situation, it is necessary to show that Russia and China continue to coordinate their positions on all global issues, said Kirill Babaev, director of the Institute of China and Modern Asia at the Russian Academy of Sciences. He commented to Xinhua on the upcoming visit of Chinese President Xi Jinping to Russia to celebrate the 80th anniversary of Victory in the Great Patriotic War.

    “The relationship between the leaders of Russia and China is the basis, the foundation for our bilateral relations. And today, the relations between our countries continue to strengthen and develop dynamically. This, of course, is primarily the merit of our leaders, who set specific goals, set long-term tasks for cooperation in the field of economics, for strategic cooperation, for coordinating the foreign policy of our countries. Therefore, I believe that this is the most important element,” noted K. Babayev.

    “It is very important to show our overseas partners that Russia and China continue to coordinate their foreign policies, remain close, and take a unified position on the international arena on all global issues,” he said.

    “This is our common Victory. Russia and China made the maximum, the greatest contribution to the victory over fascism and Japanese militarism. Russia – in Europe, China – in Asia. Their sacrifices, their efforts were maximum,” emphasized K. Babayev.

    He added that today no one disputes that “the victory over fascism and Japanese militarism was the most important achievement of humanity in the 21st century. And that Russia and China played a vital role in this.”

    According to K. Babayev, this is the common memory of the peoples of Russia and China. “We need to show all of humanity that, firstly, we honor the memory of millions of our citizens who died. And secondly, that we still understand that today peace can only be achieved together, through common efforts and on terms that will be mutually beneficial for everyone,” he concluded. –0–

    MIL OSI Russia News –

  • MIL-OSI: Oma Savings Bank Plc’s Interim Report 1.1.-31.3.2025: High costs and declining market interest rates weighed on the result, work to strengthen OmaSp continues

    Source: GlobeNewswire (MIL-OSI)

    OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 5 MAY 2025 AT 9.45 A.M. EET, INTERIM REPORT Q1

    Oma Savings Bank Plc’s Interim Report 1.1.-31.3.2025: High costs and declining market interest rates weighed on the result, work to strengthen OmaSp continues

    This release is a summary of Oma Savings Bank’s (OmaSp) January-March 2025 Interim Report, which can be read from the pdf file attached to this stock exchange release and on the Company’s web pages www.omasp.fi

    CEO Karri Alameri: High costs and declining market interest rates weighed on the result, work to strengthen OmaSp continues

    ”I had the honour of starting as the CEO of Oma Savings Bank at the end of March. In recent weeks, I have engaged with the bank’s personnel, customers, and stakeholders across Finland. These discussions have underscored OmaSp’s strong customer relationships, employee commitment, as well as comprehensive range of services, and personalised service model. These elements provide a solid foundation for OmaSp’s next phase. It is clear that we must continue refining our policies and evolving our ways of working. Trust in the Company is rebuilt through actions.

    The comparable profit before taxes for the first quarter was EUR 4.6 million and the comparable cost/income ratio of 54.4%. Profit and profitability were burdened by increased operating and personnel expenses, as well as lower net interest income due to declining market interest rates.

    The increase in costs is primarily attributed to the implementation of the risk management action plan (the “Noste”) initiated in summer 2024. The final investments in the project were made as planned in the first quarter, and new operating models are being integrated into daily operations. Total investments in the Noste project reached EUR 9.1 million over its duration. What is more, we continue to act on the findings of the supervisory assessment.

    Net interest income decreased by 18.3% compared to the comparison period, totalling EUR 46.9 million. The decline is due to fallen market interest rates. The volumes transferred from Handelsbanken have contributed to the development of net interest income as market interest rates have declined.

    Fee and commission income and expenses (net) remained nearly at the level of the comparison period, amounting to EUR 14.7 million.

    The mortgage loan portfolio increased by 3.0%, the corporate loan portfolio by 0.4%, and the deposit base by 2.7% from the level of the previous year.

    Impairment losses on financial assets totalled EUR -22.3 million in January–March. Approximately one-third was related to the update of the calculation model for expected credit losses (ECL), another third to increased allowances in the portfolio, which is being wound down in a controlled manner, and the remaining third to other impairment losses on the loan portfolio due to the general uncertain economic situation.

    Additionally, a provision of EUR 3.0 million was made for the first quarter to prepare for potential sanctions from the Finnish Financial Supervisory Authority (FIN-FSA) due to deficiencies identified in the final inspection report on the prevention of money laundering and terrorist financing. The FIN-FSA’s audit covered the period prior to December 2023. Measures to rectify the deficiencies were initiated while the audit was underway last year.

    Customer and employee satisfaction at an excellent level

    Following the Handelsbanken acquisition, we gained 10,000 new customers last autumn, and the integration has progressed smoothly. We have 48 branches covering all key growth and regional centres in Finland. In January–March, approximately 800 new customer relationships were established organically per month. OmaSp has a strong customer base of over 200,000. We are committed to offering services to households and SMEs across our network.

    Our customer and employee surveys indicated that satisfaction has remained at the excellent level of previous years. I want to extend my gratitude to our personnel for their exemplary work. Committed and motivated personnel are crucial to OmaSp’s future success.

    OmaSp’s financial position is stable, with a good solvency and liquidity position. The total capital (TC) ratio further strengthened to 17.7% at the end of March. The accumulated equity exceeds EUR 583 million.

    I look to the future with confidence. We will continue to develop our operations, invest in our core business, and strengthen the customer experience for both existing and new customers. Our strategy aims for profitable growth.”

    January–March 2025

    • In January–March, net interest income decreased by 18.3% compared with the same period last year. Net interest income totalled EUR 46.9 (57.4) million.
    • Mortgage portfolio increased by 3.0% during the previous 12 months. Corporate loan portfolio increased by 0.4% during the previous 12 months.
    • Deposit base increased by 2.7% over the past 12 months.
    • From January to March, fee and commission income and expenses (net) decreased mainly due to lower lending commissions compared to the comparison period, 2.6%.
    • From January to March, total operating income decreased by 18.9% compared to the comparison period. In the first quarter, comparable total operating income decreased by 19.8% and was EUR 59.5 (74.3) million.
    • From January to March, total operating expenses grew in total by 31.9%. The growth is mainly explained by the costs of the Company’s ongoing extensive risk management development projects, the authority processes and the promotion of a controlled winding down plan related to the non-compliance with the guidelines. In addition, the number of personnel increased compared to the comparison period due to business arrangements, the opening of new branches and the strengthening of the risk management processes. Other operating expenses were in total EUR 22.2 (16.4) million, of which the development costs of the risk management action plan and investigation costs amounted to EUR 5.3 million.
    • Comparable total operating expenses grew by 27.9% in the first quarter and were EUR 32.2 (25.2) million. Of this amount the risk management action plan (the ”Noste”) amounted to EUR 3.3 million. The measures implemented in the first quarter completed the action plan initiated in the summer of 2024.
    • For January-March, the impairment losses on financial assets were in total EUR -22.3 (-23.1) million. During the reporting period, the Company updated the calculation model for expected credit losses (ECL) as part of a larger operational programme and development of risk control. The total impact of the updated model increased the ECL by approximately EUR 8.5 million. In addition, the amount of impairment losses was impacted by an increase in allowances in the controlled winding down of the portfolio, which had an impact of approximately EUR 5.7 million. In other credit portfolio, impairment losses amounted to approximately EUR 8.1 million, and the development was particularly affected by the overall economic uncertainty.
    • For January-March, profit before taxes was EUR 3.1 (24.7) million and comparable profit before taxes was EUR 4.6 (25.6) million.
    • In the first quarter, cost/income ratio was 57.4 (35.2)% and comparable cost/income ratio was 54.4 (34.1)%.
    • In the first quarter, comparable return on equity (ROE) was 2.5 (15.5)%.
    • Total capital (TC) ratio was 17.7 (15.6)%.
    The Group’s key figures (1,000 euros) 1–3/2025 1–3/2024 Δ % 1–12/2024
    Net interest income 46,880 57,369 -18 % 213,097
    Fee and commission income and expenses, net 12,439 12,766 -3 % 50,745
    Total operating income 60,074 74,080 -19 % 270,068
    Total operating expenses -34,240 -25,958 32 % -111,004
    Impairment losses and financial assets, net -22,322 -23,112 -3% -83,379
    Profit before taxes 3,111 24,668 -87% 74,589
    Cost/income ratio, % 57.4% 35.2% 63% 41.3%
    Balance sheet total 7,517,814 7,531,291 0% 7,709,090
    Equity 583 026 527 426 11% 576,143
    Return on assets, ROA % 0.1 % 1.0 % -88 % 0.8%
    Return on equity, ROE % 1.7 % 14.9 % -89% 10.7%
    Earnings per share (EPS), EUR 0.07 0.60 -88% 1.80
    Total capital (TC), % 17.7% 16.9% 5% 15.6%
    Common equity Tier 1 (CET1), capital ratio % 16.5% 15.4% 8% 14.4%
    Comparable profit before taxes 4,617 25,626 -82% 86,656
    Comparable cost/incme ratio, % 54.4% 34.1% 60% 37.8%
    Comparable return on equity, ROE % 2.5% 15.5% -84% 12.4%


    Outlook for the financial year 2025 adjusted

    OmaSp updated its expected credit loss (ECL) calculation model in the first quarter and made a provision to prepare for possible sanctions following the final inspection report from the FIN-FSA on anti-money laundering and terrorist financing. These had a total one-off impact of approximately EUR -11 million on the results. Overall economic uncertainly has further increased. Therefore, OmaSp maintains its earnings guidance on the Group’s comparable profit before taxes to be EUR 65–80 million for the financial year 2025, with a clarification that the figure is expected to be below the mid-point of the range.

    Business outlook and earnings guidance are as follows:

    The outlook for the Company’s business for the financial year 2025 is affected by the decline in market interest rates and the continued high level of costs due to IT investments and system improvements required by risk management and quality processes. In addition, the Company continues to invest in customer experience on different channels. The uncertainty of the operating environment and economic situation affects the development of balance sheet items and comparable profit for the financial year 2025.

    Oma Savings Bank Plc provides earnings guidance on comparable profit before taxes for 2025. Earnings guidance is based on the forecast for the entire year, which takes into account the current market and business situation. Forecasts are based on the management’s insight into the Group’s business development.

    We estimate the Group’s comparable profit before taxes to be EUR 65–80 million for the financial year 2025, with a clarification that the figure is expected to be below the mid-point of the range (comparable profit before taxes was EUR 86.7 million in the financial year 2024).

    Oma Savings Bank Plc

    Additional information:
    Karri Alameri, CEO, tel. +358 45 656 5250, karri.alameri@omasp.fi

    DISTRIBUTION: 
    Nasdaq Helsinki Ltd
    Major media
    www.omasp.fi

    OmaSp is a solvent and profitable Finnish bank. About 500 professionals provide nationwide services through OmaSp’s 48 branch offices and digital service channels to over 200,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.

    OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.

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  • MIL-OSI: Karolinska Development’s portfolio company Umecrine Cognition receives grant from The Michael J. Fox Foundation

    Source: GlobeNewswire (MIL-OSI)

    STOCKHOLM, SWEDEN – May 5, 2025. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Umecrine Cognition has been awarded a research grant by The Michael J. Fox Foundation (MJFF) amounting to USD 420,000. The grant will finance preclinical studies to evaluate the potential treatment effect of golexanolone in Parkinson’s disease.

    Umecrine Cognition is developing a new class of drugs to alleviate cognitive symptoms. The company’s drug candidate golexanolone has demonstrated a positive impact on non-motor symptoms, such as sleep disorders and cognitive impairments, in preclinical models of Parkinson’s disease. The grant from The Michael J. Fox Foundation will support further preclinical studies to confirm golexanolone’s treatment effect on Parkinson’s-related sleep dysfunction and cognitive impairments, as well as evaluate the drug candidate’s effect on disease progression in several disease models.

    The grant is awarded to the collaboration between Umecrine Cognition and the principal investigator, Professor Gilberto Fisone Head of the Laboratory of Molecular and Circuit Neuropharmacology, and Chair of the Department of Neuroscience, at Karolinska Institutet, Solna, Sweden.

    Parkinson’s disease is a progressive neurodegenerative disease most noticeably characterized by deteriorating motor functions. However, non-motor symptoms, such as sleep disorders and cognitive impairments, emerge before the onset of physical symptoms and have, historically, been overlooked due to a lack of scientific and clinical insights. While current treatments target motor dysfunction, there are no approved pharmaceutical therapies for non-motor symptoms.

    “The Michael J. Fox Foundation is the world’s largest non-profit funder of Parkinson’s research, and the grant represents a significant acknowledgment and validation of golexanolone’s potential in treating this progressive and life-restricting disease. The funding enables further research on golexanolone as a novel treatment option for non-motor symptoms in Parkinson’s Disease, an area with high medical need,” says Johan Dighed, General Counsel and Deputy CEO, Karolinska Development.

    Karolinska Development’s ownership in Umecrine Cognition amounts to 73%.

    For further information, please contact:

    Viktor Drvota, CEO, Karolinska Development AB
    Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com 

    Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
    Phone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com

    TO THE EDITORS

    About Karolinska Development AB

    Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patient’s lives while providing an attractive return on investment to shareholders.

    Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.

    Karolinska Development has a portfolio of eleven companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.

    The company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.

    For more information, please visit www.karolinskadevelopment.com.

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  • MIL-OSI Europe: ECB partners with private sector through digital euro innovation platform

    Source: European Central Bank

    5 May 2025

    • ECB establishes an innovation platform with around 70 market participants on new platform
    • Participants to test digital euro payment functionalities and explore innovative use cases
    • Findings to be shared in report later this year

    The European Central Bank (ECB) has established an innovation platform to collaborate with European stakeholders in the context of the digital euro project. almost 70 market participants – including merchants, fintech companies, start-ups, banks and other payment service providers – have signed up to work with the ECB to explore digital euro payment functionalities and use cases. Following a call for interest published in October 2024, the ECB received over 100 applications from around 70 participants, who joined one or both of the workstreams “pioneers” and “visionaries”.

    The innovation platform simulates the envisaged digital euro ecosystem, in which the ECB provides the technical support and infrastructure for European intermediaries to develop innovative digital payment features and services at European level.

    The pioneers workstream is investigating how conditional payments in digital euro (i.e. transactions that are made automatically when predefined conditions are met, such as the delivery of a package bought online) could be implemented from a technical standpoint. It is also developing potential use cases for day-to-day payments.

    Pioneers will be exploring how to integrate the simulated digital euro interfaces with their platforms. The ECB is providing participants with technical support and specifications, such as an application programming interface, to conduct independent work on use cases of their choice. Pioneers will summarise their findings in a report, which the ECB will review thoroughly to inform its work on the digital euro project.

    The visionaries workstream is conducting research on new digital euro use cases and how they could help address societal challenges, such as digital financial inclusion. For instance, the ability to open a digital euro wallet in any post office could guarantee free access to digital euro services, even for people without a bank account or access to digital devices.

    Visionaries will share and discuss their proposals with the ECB in dedicated workshops that will run until May 2025.

    “We welcome the huge amount of interest that market participants have shown in this exciting initiative,” said Executive Board member Piero Cipollone. “The breadth and creativity of the proposals highlights the digital euro’s potential as a catalyst for financial innovation in Europe, including the development of new solutions that further enhance the payment experience for Europeans and create market opportunites”.

    Findings from both workstreams will be published by the ECB in a report to be published later this year.

    For media queries, please contact Alessandro Speciale, tel.: +49 172 167 0791

    MIL OSI Europe News –

  • MIL-OSI Russia: NSU summed up the results of the regional qualifying stage of the Biotournament

    Translation. Region: Russian Federal

    Source: Novosibirsk State University – Novosibirsk State University –

    On April 27, the qualifying round of the student BioTournament was held for the third time at NSU. Five teams took part in it: two from Novosibirsk State University, the TPU team, the team of SSMU (Tomsk) and MIREA-RTU (Moscow), as well as the team of RNIMU named after N. I. Pirogov (Moscow).

    The first place was taken by the team “What is ML?” RNIMU named after N. I. Pirogov. The second place was taken by the team NSU “GeneShtab”. The third place was shared between the team NSU “myauRNK” and the team “SibGMU “μ-sli”. The prize-winning teams of the tournament received an invitation to the final stage of the tournament in Pushchino and memorable prizes.

    — We are pleased with the interest shown by teams from other universities in the event that we are holding. Despite the fact that the teams of SSMU and RNRMU named after Pirogov have already participated in other qualifying stages of the Biotournament held this year, they came to play here and provided good competition to the NSU teams playing “on their home field”. It is also worth noting that we have seen many of the participants, team leaders and jury members among the “tournament players” for many years and not only within the Biotournament, which, from our point of view, emphasizes the demand for this competition format, — said Elena Stolyarova, team coordinator and one of the tournament organizers.

    To participate in the tournament, participants had to assemble a team and solve six creative scientific problems compiled by leading research fellows, associate professors and candidates of biological sciences. The teams presented their solutions in turn, and also acted as opponents and reviewers of the solutions of their rivals. All actions were assessed by a jury consisting of candidates of biological sciences, research fellows of biological institutes of the Siberian Branch of the Russian Academy of Sciences and teachers.

    — The qualifying round was intense, this year the first round of scientific battles was five teams, which seriously increased the emotional and mental load. But thinking over tactics was interesting and exciting. Our team prepared for this event for two months, gathering in a cozy circle in the coworking reading room and discussing ideas for solutions and their implementation. Our colleagues from other teams generally showed a decent level of opposition, by the second half of the day all the participants were in full swing, and sometimes it seemed that the air could be cut with a knife from excitement. Naturally, we plan to attend the final stage next autumn and bring back even more new acquaintances, ideas and, possibly, awards, — shared his impressions Yaroslav Gaburov, captain of the GeneShtab team, a third-year student of the Faculty of Natural Sciences of NSU.

    For the team “What is ML?” from the Pirogov Russian National Research Medical University, this is the 12th tournament in the last three years. This time, the team competed with an incomplete lineup and a limited set of tasks, but the correctly chosen tactics allowed them to overcome all difficulties and win the qualifying round of the tournament.

    — The opponents were worthy and strong — among them, several teams with extensive tournament experience. It was interesting to observe how guys from different universities and specialties approached solving problems — this added variety to the discussions. The atmosphere was exciting, sometimes tense (how could it be otherwise!), but at the same time, the Biotournament is traditionally distinguished by a respectful culture of debate, which is very important for scientific events, — said Valentina Krokhaleva, captain of the team “What is ML?”, a 5th-year student of the Medical Biochemistry International Charitable Foundation of the Russian National Research Medical University named after N.I. Pirogov.

    As Valentina notes, tournaments are not only scientific battles and testing of one’s skills and knowledge, but also a great opportunity to escape from the usual schedule for a while and change the environment.

    — I was very happy to return to Akademgorodok after six years. We were lucky with the weather. On Saturday we walked around Akademgorodok all day, got to the student festival “Internedelya” on the campus territory and in the evening we reached the Ob Sea, — added Valentina Krokhaleva.

    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 Europe: Syrian asylum applications drop significantly, reflecting broader decreasing trend in the EU+

    Source: European Asylum Support Office

     In February 2025, Syrians lodged one of the smallest numbers of monthly applications in over a decade.  As a result, having been the main recipient country for Syrian asylum-seekers, Germany was no longer the main destination for asylum seekers in the EU+. France and Spain each received more applications than Germany. In France, Haitians and Ukrainians together represented one fifth of all applicants, while Venezuelans dominated the asylum landscape in Spain.

    The European Union Agency for Asylum (EUAA) has just published the first monthly dataset for 2025, on asylum applications in the EU+. In February, EU+ countries received around 69 000 asylum applications, following a decreasing trend that has been ongoing since October 2024. The fall of the regime of Bashar al-Assad to Hayat Tahrir al-Sham (HTS) in Syria has led to a significant change in the asylum landscape in the EU+. In February, Syrians lodged the fewest applications in over a decade (5 000), with their number decreasing by 70 %, compared to October 2024.

    With Syrians, historically, having almost always been the nationality with the most applicants for international protection in the EU+, this change is notable for many reasons, among them the fact that Germany was not the main receiving EU+ country in February 2025. The sharp decrease in Syrian applications has also impacted several of the EUAA’s first instance asylum indicators.

    The latest asylum figures show how important stability in other regions is for Europe. This is strongly reflected in the declining trend in asylum applications from Syrian nationals in the EU in the first quarter. With the implementation of the Pact on Migration and Asylum and the new returns regulation, we are bringing our European House in order. Together with Member States, we need to step up our cooperation with partner countries to address migration well beyond our borders.

    Magnus Brunner European Commissioner for Internal Affairs and Migration

    These figures show a changing asylum landscape in Europe, with several months of fewer applicants seeking protection, and also shifts in their profiles, nationalities and destination countries. At the same time, both the EU Institutions and the Agency are working on making Europe’s asylum systems more streamlined and effective, ensuring that protection is provided in a timely manner to those in genuine need.

    Nina Gregori Executive Director

     

     Changing trends in citizenships and key receiving EU+ countries

    For more than a decade, Germany (12 780) has almost always been the largest recipient of asylum applications in the EU+. However, in February 2025, that was no longer the case, and the country received 40% fewer applications compared to February 2024. France (13 081) and Spain (12 976) both received more applications than Germany, with figures that were relatively stable in the past 12 months. Italy (11 405) also received a significant number of applications, despite a declining trend. Taken together, applications in these four receiving countries represented almost three quarters of all applications lodged in the EU+.

    In February 2025, Venezuelans (8 500) were the largest applicant group. Though Venezuelans have long been among the 5 biggest applicant groups in the EU+, mostly applying in Spain due to a well-established diaspora, the recent increase in applications since October 2024 may be linked to the ongoing economic and political crisis in the country, as well as increasingly restrictive asylum policies in the United States of America.

    Recognition rate at the lowest level since COVID-19

    Over the past two years, the EU+ recognition rate, which reflects the percentage of asylum applicants that receive decisions granting either refugee status or subsidiary protection, has fluctuated around 40% at first instance. In January and February 2025, the monthly EU+ recognition rate fell to 25 %, the lowest level since the first months of COVID-19 in 2020.

    A significant contributor to this change was the number of asylum decisions issued to Syrians in January and February 2025, which dropped to around 1 600 in both months. In addition, the EU+ recognition rate for Syrians stood at just 14 %, down from around 90 % in previous months. The reasons for these significant changes are two-fold. Firstly, many EU+ countries have temporarily paused the processing of Syrian asylum claims, pending greater clarity on the security and political situation in Syria. Secondly, many Syrians have begun to withdraw their asylum applications. In some EU+ countries, a withdrawn application results in a negative decision, thus reducing the overall EU+ recognition rate.

    More generally, the Agency’s data show that there were around 964 000 asylum applications pending at first instance at the end of February 2025. Together with Syrians (113 000), Venezuelans (100 000) and Colombians (89 000) were awaiting the most first instance decisions. In February, some 52 % of applications were lodged by citizenships for whom the EU+ recognition rates stood at 20 % or less, in 2024. Citizenships in this group included Bangladeshis (4 %), Columbians (5 %), Egyptians (4 %), and Moroccans (4 %).

    MIL OSI Europe News –

  • MIL-OSI: 25/2025・Trifork Group: Weekly report on share buyback

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 25 / 2025
    Schindellegi, Switzerland – 5 May 2025


    Trifork Group: Weekly report on share buyback

    On 28 February 2025, Trifork initiated a share buyback program in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, (Safe Harbour regulation). The share buyback program runs from 4 March 2025 up to and including no later than 30 June 2025. For details, please see company announcement no. 7 of 28 February 2025.

    Under the share buyback program, Trifork will purchase shares for up to a total of DKK 14.92 million (approximately EUR 2 million). Prior to the launch of the share buyback, Trifork held 256,329 treasury shares, corresponding to 1.3% of the share capital. Under the program, the following transactions have been made:

    Date       Number of shares        Average purchase price (DKK)        Transaction value (DKK)
    Total beginning 66,897 85.22 5,701,099
    28 April 2025 1,082 88.61 95,876
    29 April 2025 1,800 89.18 160,524
    30 April 2025 1,700 90.50 153,850
    1 May 2025 1,700 90.48 153,816
    2 May 2025 1,500 91.93 137,895
    Accumulated 74,679 85.74 6,403,060

    A detailed overview of the daily transactions can be found here: https://investor.trifork.com/trifork-shares/

    Since the share buyback program was started on 4 March 2025, the total number of repurchased shares is 74,679 at a total amount of DKK 6,403,060.
    On 25 March and on 25 April 2025, 2,929 shares acquired through the share buyback program were utilized for the Executive Management’s monthly fixed salary, representing a change from cash payment to payment partly in shares (refer to company announcement no. 1 of 21 January 2025).
    On 1 April 2025, 19,943 shares acquired through the share buyback program were utilized to serve the RSU plan of Executive Management and certain employees.

    With the transactions stated above, Trifork holds a total of 308,136 treasury shares, corresponding to 1.6%. The total number of registered shares in Trifork is 19,744,899. Adjusted for treasury shares, the number of outstanding shares is 19,436,763.

    Investor and media contact
    Frederik Svanholm, Group Investment Director & Head of Investor Relations
    frsv@trifork.com, +41 79 357 73 17

    About Trifork
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

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    The MIL Network –

  • MIL-OSI: Aktsiaselts Infortar interim report for Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    Aktsiaselts Infortar interim report for Q1 2025

    Infortar will arrange a webinar for investors today 5 May 2025.Please join the webinar via the following links:

    Estonia’s largest investment holding company, Infortar, increased its turnover by 20% in the first quarter of the year compared to the same period last year, reaching €447 million. The group’s total assets nearly doubled to €2.6 billion, while investments tripled to €22 million. In recent years, Infortar has nearly doubled the size of its real estate portfolio and is actively expanding across multiple sectors.

    Since August 1st of last year, the results of Tallink, a group company, have been consolidated into Infortar’s financial statements. Due to the highly seasonal nature of the maritime transport business, Tallink’s first-quarter loss of €33 million was reflected in Infortar’s own results. An additional impact came from a €1.7 million income tax expense, resulting in a total net loss of €14.6 million for Infortar in the first quarter, of which €4.5 million was attributable to Infortar’s shareholders. The energy business was affected by an exceptionally warm winter and lower consumption, but remained profitable overall. The real estate segment, meanwhile, showed significant year-on-year growth in volumes. 

    “The economy stands on three pillars – agriculture, industry, and services. In recent years, Infortar has expanded its presence across all three to achieve its goals and diversify risk. Moreover, we have grown into a market leader in each,” said Ain Hanschmidt, Chairman of the Management Board of Infortar.

    “The performance of Tallink had the biggest impact on Infortar’s first-quarter profitability. In addition to typical seasonality, passenger numbers in the first quarter reflected the state of the core markets’ economies and low consumer confidence. Still, it is important to note that the most challenging period of the year is now behind Tallink, and the outlook is more optimistic,” Hanschmidt added.

    “The energy business was affected by an exceptionally mild winter, lower consumption, and a gas surplus. Nevertheless, the segment remained profitable, primarily due to well-placed investments in gas distribution networks in Latvia and Poland. In real estate, we continued rapid growth – over the past year, we have expanded our portfolio by nearly 50%, becoming one of the largest property owners in the Baltics,” said Hanschmidt.

    “Despite a turbulent environment, Infortar continues to grow as one of the largest investment companies on the eastern coast of the Baltic Sea, actively seeking new investment opportunities. Our balance sheet strength is the key indicator of resilience – Infortar’s financial position and liquidity remain solid, free liquidity is €153 million enabling us to generate cash and invest. We can also confirm our continued commitment to the stated dividend policy. Diversification across sectors and countries has created a strong platform that provides confidence even in volatile times,” Hanschmidt concluded.

    Major Event

    Maritime transport

    Tallink´s first quarter of 2025 was impacted by low consumer and business confidence levels, the economic challenges in the Group’s core markets and global geopolitical tensions. As at the end of the quarter, the Group operated 14 vessels including 2 shuttle vessels, 6 passenger vessels, 2 vessels that were chartered out and 4 vessels that were in lay-up.

    During the quarter Tallink´s total investments amounted to EUR 13.3 million majority of which were made to upgrading the cruise ferries Baltic Princess and Silja Serenade. The planned maintenance works totalling 68 days in the first quarter of 2025 affected the passenger and cargo levels in Finland-Sweden routes.

    Energy

    In the first quarter, natural gas consumption in the Finnish-Baltic region totalled 15,0 TWh, decreasing by 19% compared with the previous year (16,5 TWh). Energy sales were negatively impacted by higher-than-average temperatures, which reduced the demand for natural gas.

    In the first quarter of 2025, Elenger Grupp sold a total of 4.6 TWh of energy (compared to 6,1 TWh in Q1 2024). Sales in Estonia accounted for 17% of the energy sales in Q1 2025. The company´s market share decreased in Q1 2025 to 20,0% in the Finland-Baltic gas market.

    Real estate

    At the end of last year, the Rimi logistics center in Saue municipality received its usage permit; this summer, the new bridge in Pärnu will be completed, and next year, DEPO will open its second store in Estonia, located in Lasnamäe.

    Key financial figures

    Key figures Q1 2025 Q1 2024 12 months 2024
    Sales revenue. m€ 447.357 372.584 1 371.775
    Gross profit. m€ 26.068 50.004 128.628
    EBITDA. m€ 27.661 74.004 145.275
    EBITDA margin (%) 6.2% 19.9% 10.6%
    Net profit. EBIT. m€ -0.655 67.624 77.024
    Total profit(-loss). m€ -14.561 62.062 193.670
    Net profit (-loss) holders of the Parent m€ -4.479 62.167 191.253
    EPS (euros)* -0.2 3.1 9.6
    Total equity m€ 1 181.002 820.210 1 166.222
    Total liabilities m€ 1 105.305 852.690 1 223.287
    Net debt m€ 952.397 195.799 1 055.708
    Investment loans to EBITDA (ratio)** 3.3x 1.5x 3.0x

    Notes:*For the earnings per share (EPS) calculation, the number of shares as of 31.03.35 has been used for comparability. Formula: profit/loss attributable to Infortar shareholders divided by the number of shares, excluding own shares issued under the stock option program. Example calculation based on the end of Q1 2024: (191 x 1,000,000) / (20,443,629 – 722,610).**Investment loans / EBITDA, annualized. For comparability,actualEBITDA of Tallink Grupp for the relevant period has been used, based on Tallink Grupp quarterly report.

    Revenue

    In the first quarter of the 2025 financial year, the Group’s consolidated revenue increased by EUR 74.7 million to EUR 447.4 million (Q1 2024 consolidated revenue: EUR 372.6 million). A significant impact came from the consolidation of Tallink Grupp’s results into Infortar’s consolidated financial statements as of 1 August 2024.

    EBITDA and Segment Reporting
    In the first quarter of the 2025 financial year, the EBITDA of the maritime transport segment amounted to EUR -3.8 million (Q1 2024: EUR 34.5 million).
    The energy segment’s EBITDA was EUR 31.8 million (Q1 2024: EUR 73.9 million).
    In the real estate segment, profitability is assessed based on the EBITDA of individual real estate entities.

    Based on separate real-estate companies results, the real estate segment’s EBITDA was EUR 3.4 million in Q1 2025 (Q1 2024: EUR 3.8 million).

    Net Profit (Loss)
    The consolidated net loss for the first quarter of the 2025 financial year was EUR -14.6 million, including a loss attributable to Infortar’s owners of EUR -4.5million (Q1 2024 net profit: EUR 62.1 million, including EUR 62.2 million attributable to Infortar’s owners).

    Investments
    In the spring of 2024, Infortar entered the agricultural sector by acquiring one of Estonia’s largest dairy farms in Halinga and began construction of a biomethane plant next to the farm to produce local green gas. Today, on 5 May, Infortar announced an additional investment plan in Estonia Farmid OÜ.
    In the first quarter of 2025, the total amount of investments made by the Infortar Group was approximately EUR 22 million.

    Financing
    As of the first quarter of the 2025 financial year, the Group’s total loan and lease liabilities amounted to EUR 1 105.3million (compared to EUR 1 223.3 million at the end of the 2024 financial year). Infortar’s net debt stood at EUR 952.397 million. The net debt to EBITDA ratio was 3.4.

    Dividends

    According to the dividend policy, the objective is to pay dividends of at least 1 euro per share per financial year. Dividend payments are made semi-annually. Infortar Group’s management proposes to pay a dividend of 3 euros per share for the 2024 financial year results. According to the proposal, the first payout is planned to be made no later than July, and the second payout in December 2025. 

    Consolidated Statement of Profit or Loss

    (in thousands of EUR) Q1 2025 Q1 2024 12 months 2024
    Revenue 447 357 372 584 1 371 775
    Cost of goods (goods and services) sold -421 173 -322 573 -1 243 034
    Write-down of receivables -116 -7 -113
    Gross profit 26 068 50 004 128 628
    Marketing expenses -10 976 -415 -21 086
    General administrative expenses -20 965 -7 238 -50 438
    Profit (loss) from derivatives 0   26 672
    Profit (loss) from biological assets -33 0 -139
    Profit (loss) from the change in the fair value of the investment property 0 156 -949
    Profit (loss) from the change in the fair value of the investment property 3 939 24 659 -8 691
    Other operating revenue 1 956 600 4 682
    Other operating expenses -644 -142 -1 655
    Operating profit -655 67 624 77 024
           
    (in thousands of EUR) Q1 2025 Q1 2024 12 months 2024
    Profit (loss) from investments accounted for by equity method 955 2 000 22 974
    Financial income and expenses:      
    Other financial investments -333 0 13 342
    Interest expense -12 896 -6 745 -38 274
    Interest income 842 1 244 4 979
    Profit (loss) from changes in exchange rates -315 -2 100
    Other financial income and expenses -451 4 93 659
    Total financial income and expenses -13 153 -5 499 73 806
    Profit before tax -12 853 64 125 173 804
    Corporate income tax -1 708 -2 063 19 866
    Profit for the financial year -14 561 62 062 193 670
    including:      
    Profit attributable to the owners of the parent company -4 479 62 167 191 253
    Profit attributable to non-controlling interest -10 082 -105 2 417
           
    Other comprehensive income Q1 2025 Q1 2024 12 months 2024
    tems that will not be reclassified to profit or loss      
    Revaluation of post-employment benefit obligations     -141
    Items that may be subsequently reclassified to the income statement:  
    Revaluation of risk hedging instruments     -45 792
    Exchange rate differences attributable to foreign subsidiaries     53
    Total of other comprehensive income     -45 880
    Total income, including:     147 790
    including:      
    Comprehensive profit attributable to the owners of the parent company     145 514
    Comprehensive profit attributable to non-controlling interest     2 417
    Ordinary earnings per share (in euros per share) -0,22 14,62 9
    Diluted earnings per share (in euros per share) -0,21 14,15 14,15

    Consolidated Statement of Financial Position

    (in thousands of EUR) 31.03.25 31.12.24
    Current assets    
    Cash and cash equivalents 152 908 167 579
    Short term financial investments 0 0
    Derivative financial assets 16 968 8 333
    Settled derivative receivables 2 448 676
    Other prepayments and receivables 153 040 155 351
    Prepayments for taxes 3 650 3 831
    Trade and other receivables 51 379 38 517
    Prepayments for inventories 1 953 2 498
    Inventories 124 636 215 914
    Biological assets 941 941
    Total current assets 507 923 593 640
         
    Non-current assets 31.03.25 31.12.24
    Investments to associates 17 559 16 603
    Long-term derivative instruments 340 3 214
    Other long term obligations 34 685 35 163
    Property, plant and equipment at fair value 1 309 599 1 315 167
    Investment property 68 175 67 931
    Property, plant and equipment 598 280 594 291
    Intangible assets 38 008 38 874
    Right-of-use assets 46 043 47 598
    Biological assets 2 720 2 753
    Total non-current assets 2 115 409 2 121 594
    TOTAL ASSETS 2 623 332 2 715 234
         
    (in thousands of EUR) 31.03.25 31.12.24
    Current liabilities    
    Loan liabilities 396 801 497 162
    Rental liabilities 8 755 9 020
    Payables to suppliers 104 664 87 941
    Tax obligations 48 861 49 354
    Buyers’ advances 40 946 31 126
    Settled derivatives 9 706 8 728
    Other current liabilities 68 409 63 431
    Short term derivatives 8 285 27 704
    Total current liabilities 686 427 774 466
         
    Non-current liabilities 31.03.25 31.12.24
    Long-term provisions 8 455 9 946
    Deferred taxes 3 039 2 816
    Other long-term liabilities 43 412 43 209
    Long-term derivatives 1 248 1 471
    Loan-liabilities 661 602 676 670
    Rental liabilities 38 147 40 435
    Total non-current liabilities 755 903 774 547
    TOTAL LIABILITIES 1 442 330 1 549 013
         
    (in thousands of EUR) 31.03.25 31.12.24
    Equity    
    Share capital 2 117 2 117
    Own shares -72 -72
    Share premium 32 484 32 484
    Reserve capital 212 212
    Option reserve 7 431 6 223
    Hedging reserve* 3 510 -21 674
    Unrealised currency translation differences 2 854 45
    Employment benefit reserve -44 -185
    Retained earnings 885 688 890 167
    Net profit of the financial year    
    Total equity attributable to equity holders of the Parent 934 180 909 317
    Minority interests 246 822 256 904
    Total equity 1 181 002 1 166 221
         
    TOTAL LIABILITIES AND EQUITY 2 623 332 2 715 234

    Consolidated Statement of Cash Flows

    Cash flows from operating activities    
    (in thousands of EUR) 3 months
    2024    		 12 months
    2024
    Profit for the financial year -14 561 193 670
    Adjustments:    
    Depreciation, amortisation, and impairment of non-current assets 28 316 68 251
    Change in the fair value of the investment property 0 0
    Equity profits/losses -956 -22 974
    Change in the value of derivatives -79 -1 483
    Other financial income/expenses 2 300 -112 030
    Calculated interest expenses 12 896 38 274
    Profit/loss from non-current assets sold -116 -955
    Income from grants recognised as revenue -385 -643
    Corporate income tax expense 1 708 -19 866
    Income tax paid -1 485 -10 551
    Change in receivables and prepayments related to operating activities -12 184 52 023
    Change in inventories 91 823 -12 831
    Change in payables and prepayments relating to operating activities 29 780 -81 275
    Change in biological assets 33 -322
    Total cash flows from operating activities 137 090 89 288
         
    Cash flows from investing activities 3 months
    2024    		 12 months
    2024
    Purchases of subsidiaries -333 -111 684
    Proceeds from the sale of other financial investments 0 0
    Received dividends 0 20 862
    Given loans 607 1 918
    Interest gain 755 4 953
    Purchases Investment property -244 -10 352
    Purchases of property, plant and equipment -23 305 -27 835
    Proceeds from sale of property 139 1 561
    Total cash flows used in investing activities -22 381 -120 577
         
    Cash flows used in financing activities 3 months
    2024    		 12 months
    2024
    Gain from goverment grants 394 225
    Changes in overdraft -43 343 12 863
    Proceeds from borrowings 94 276 358 731
    Repayments of borrowings -166 362 -151 790
    Repayment of finance lease liabilities -3 591 -11 300
    Interest paid -10 754 -39 153
    Dividends paid 0 -60 997
    Gain from share emission 0 3 174
    Total cash flows used in financing activities -129 380 111 753
      0 0
    TOTAL NET CASH FLOW -14 671 80 464
    Cash at the beginning of the year 167 579 87 115
    Cash at the end of the period 152 908 167 579
    Net (decrease)/increase in cash -14 671 80 464

    Infortar operates in seven countries, the company’s main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.47% stake in Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real estate portfolio of approx. 141,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, and other areas. A total of 110 companies belong to the Infortar group: 101 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 6,296 people.

    Additional information:

    Kadri Laanvee
    Investor Relations Manager
    Phone: +372 5156662
    e-mail: kadri.laanvee@infortar.ee
    www.infortar.ee/en/investor

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    The MIL Network –

  • MIL-OSI: Dawn Health Secures EURm 11.5 to Scale Platform & Product Suite for Next-Gen Pharma Digital Health Solutions

    Source: GlobeNewswire (MIL-OSI)

    Press release

    Dawn Health Secures EURm 11.5 to Scale Platform & Product Suite for Next-Gen Pharma Digital Health Solutions

    Copenhagen, Denmark – 5th of May, 2025

    Dawn Health – a global leader in digital health, co-founded by Trifork and held as a minority investment in Trifork Labs – today announced that the company has secured a funding round of EURm 11.5 from its existing investors: Chr. Augustinus Fabrikker, the Export and Investment Fund of Denmark (EIFO), and Trifork Labs. The investment is aimed at supporting the company’s strategy to deliver its platform and product suite to global pharma companies through a SaaS model, while continuing to invest in further offerings within the Dawn Product Suite.

    Since 2021, Dawn Health has been dedicated to developing a best-in-class platform designed specifically to accommodate the needs and use cases of the pharmaceutical industry. The Dawn Platform and Product Suite have already been widely adopted by five global industry leaders, including Merck and Novartis. The Dawn Platform is currently used in areas such as oncology, multiple sclerosis, and rare pediatric conditions like growth disorders. It helps patients manage their treatment, report symptoms, and stay in close contact with their healthcare team.

    The Dawn Platform and Product Suite empower pharma companies, patients, and healthcare professionals to improve outcomes and patient care by leveraging advanced capabilities in AI, data, evidence generation, clinical integrations, personalization, and connected health. By improving both data collection and analytics, these capabilities ultimately benefit patients and pharma companies alike, positioning the Dawn Platform as the foundation for therapy companions, disease management programs, and real-world evidence (RWE) solutions that enable the next generation of digital health.

    “Our ambition is to be the global leader in digital health, powering pharma’s next-generation products – and ultimately improving the lives of patients worldwide,” said Alexander Mandix Hansen, CEO of Dawn Health. “This funding allows us to bring our proven platform to more markets and deepen our impact.”

    This next phase reinforces Dawn Health’s position as a trusted partner to pharma companies, delivering valuable, scalable, regulatory-grade digital health products that evolve with the needs of modern medicine.

    “Since the major investment in December 2021, Dawn Health has grown its revenue significantly and expanded its footprint in global pharma. With more than 100 employees, unique solutions, and a strong regulatory infrastructure, we are prepared to further accelerate our growth,” said Lars Marcher, Chairman of Dawn Health.

     

    About Dawn Health
    Dawn Health is a global leader in digital health, specializing in the development of Software as a Medical Device (SaMD), Digital Therapeutics (DTx), and connected health solutions. Accelerating the launch of digital solutions to market, the Dawn Health product suite drives innovation to change the lives of people with chronic conditions. Through close partnerships with the life sciences industry, Dawn Health creates digital health products that transform patient care through an empathetic and human-centric approach. Learn more at dawnhealth.com.

    Contact: Christopher Kold, Marketing Manager, cko@dawnhealth.com, +45 41 58 60 88

    About Trifork Group
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    Contact: Frederik Svanholm, Group Investment Director, frsv@trifork.com, +41 79 357 7317

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    The MIL Network –

  • MIL-OSI: Enlight Research revises target price for INVL Technology’s shares

    Source: GlobeNewswire (MIL-OSI)

    Enlight Research updated its valuation of INVL Technology, a company that invests in IT businesses, following the publication of operating results for 2024.

    The target price for INVL Technology’s shares was raised to EUR 4.12 from EUR 4.01 per share.

    Before publication of the Enlight Research update report, INVL Technology’s share price on the Nasdaq Vilnius stock exchange was EUR 3.4.

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

    The company that invests in IT businesses reported that its equity and net asset value were EUR 51.43 million at the end of December 2024, which is 18.2% more than a year earlier. The value per share of its equity and NAV was EUR 4.2896 and grew 19%. INVL Technology had an audited net profit of EUR 8.09 million in 2024, 56.6% more than in 2023.

    In mid-March last year, the company signed an agreement with the Zurich branch of M&A intermediation service provider Corum Group’s Luxembourg-based unit Corum Group International, to advise and serve as M&A intermediary on the sale of the company’s portfolio of businesses.

    INVL Technology, which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is a closed-end investment company which must exit its investments no later than mid-July 2026 and distribute the money to shareholders.

    Enlight Research provides private and institutional investors with equity research. The company’s reports are available to all investors free of charge. The Enlight Research report is commissioned by INVL Technology and does not constitute investment research. The report was prepared for informational purposes and cannot be considered an offer to buy or sell shares. The responsibility for such a decision lies with the investor. 

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

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  • MIL-OSI Russia: Iran Revises Port Blast Death toll to 57

    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

    TEHRAN, May 5 (Xinhua) — Iran on Sunday revised down the death toll from a powerful blast at its main commercial port late last month, dropping the death toll to 57 from 70. Two suspects have been detained.

    The semi-official Tasnim news agency, citing Hormozgan provincial chief judge Mojtaba Karemani, reported that the updated toll from the April 26 blast at Shahid Rajaee port included 46 bodies found and identified and 11 people still missing.

    M. Kareman explained that the number of victims decreased after forensic examination established that some body parts collected separately belonged to the same people. A special task force was created to search for the missing, he added.

    State television reported on Sunday that two people, including a government official, had been detained.

    The explosion and subsequent fire left more than 1,200 people injured, according to the Iranian Red Crescent Society. Search and rescue operations at the scene ended on Sunday.

    Authorities have pointed to safety violations that led to the incident. A statement from the provincial crisis management office cited a failure to comply with safety and passive defense measures, while Interior Minister Eskandar Momeni last Monday cited “a certain amount of negligence.”

    The Shahid Rajaee Port, located in the southern province of Hormozgan, is Iran’s largest maritime hub, handling the vast majority of container traffic and more than half of the country’s trade. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Czech President and V. Zelensky discussed the situation in Ukraine and cooperation

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    Xinhua | 05. 05. 2025

    Keywords: president of the czech republic, discussed, ukraine, cooperation, situation, prospects for peace talks, achieving lasting peace, possibilities for post-war reconstruction, aspirations of ukraine, within ukraine, development of the situation, country, parties, supports, pavel, fighters

    PRAGUE, May 5 (Xinhua) — Czech President Petr Pavel and visiting Ukrainian President Volodymyr Zelensky discussed the developments in Ukraine, prospects for peace talks and post-war reconstruction opportunities on Sunday.

    Speaking after the meeting, P. Pavel said that his country supports Ukraine’s desire to achieve lasting peace.

    The parties also discussed the creation of a Ukrainian-Czech school for training F-16 fighter pilots outside of Ukraine. –0–

    Source: Xinhua

    The Czech President and V. Zelensky discussed the situation in Ukraine and cooperation The Czech President and V. Zelensky discussed the situation in Ukraine and cooperation

    MIL OSI Russia News –

  • MIL-OSI: BW Energy: First quarter results 2025 

    Source: GlobeNewswire (MIL-OSI)

     BW Energy First quarter results 2025 

    HIGHLIGHTS 

    • Record Q1 EBITDA of USD 182.1 million, net profit of USD 83 million 
    • Operational cash-flow of USD 154.7 million in the quarter 
    • Q1 gross production of 4.2 mmbbls with 3.2 mmbbls net to BW Energy  
    • Highest quarterly production since inception from the Dussafu licence  
    • Maintained a strong balance sheet with cash position of USD 286.9 million 
    • Substantial oil discovery in the Bourdon prospect 
    • Maromba development FID unlocking path to more than doubling production and potential for future dividends 

    BW Energy, operator of the Dussafu Marin licence in Gabon and the Golfinho cluster offshore Brazil, reported a record quarterly EBITDA of USD 182.1 million for the first quarter of 2025. This was up 31% from USD 141.6 million in the previous quarter on increased oil sales following all-time-high production in Gabon and higher output in Brazil. The net production was ~36,000 bbls/day, including the Tortue, Hibiscus, and Hibiscus South fields in the Dussafu licence (73.5% working interest or “WI”) and the Golfinho field (100% WI).  

    “BW Energy delivers a strong first quarter with record production and EBITDA on the back of sustained stable operations across our asset portfolio in Gabon and Brazil,” said Carl K. Arnet, the CEO of BW Energy. “The accretive start to 2025 is further underpinned by the Bourdon discovery growing our Dussafu reserves, FID on the Golfinho Boost adding to production and reducing OPEX, and finally the Maromba FID. This transformative project is set to unlock industry-leading production growth and position BW Energy for future shareholder distributions.”  


    DUSSAFU

    BW Energy completed three liftings in the first quarter at an average realised price of USD 74.8/bbl. Net production was approximately 2.6 mmbbls of oil and the net sold volume, the basis for revenue recognition, was approximately 3.2 mmbbls including 65,000 bbls of DMO deliveries and 320,889 bbls of state profit oil with an over-lift position of 350,893 bbls at period-end.  

    Net production from the Dussafu licence averaged ~28,700 bbls/day, an increase of 5% from the previous quarter. Operating cost (excluding royalties) decreased to USD 9.9/bbl from USD 11.7/bbl in the fourth quarter due to operational efficiencies and increased production. Further cost savings are expected as BW Energy is preparing to take over the operations of the BW Adolo FPSO during the current quarter.  

    On 2 January 2025, Phase 1 of the Hibiscus / Ruche development was completed with eight producing wells, two more than planned at project sanction.   


    GOLFINHO

    Net production from the Golfinho field averaged ~7,300 bbls/day equivalent to a total production of 657,000 bbls in the quarter, up 12% from the previous quarter as gaslift resumed after completion of Petrobras maintenance. One lifting was carried out of ~500,000 bbls at a realised price of USD 75/bbl. Remaining inventory was approximately 597,750 bbls at the end of the period. Operating cost (excluding royalties) averaged USD 42.2/bbl barrel, down from 56.4/bbl in the fourth quarter, primarily due to higher production. In early April, the Brazilian oil and gas regulator ANP extended the production phase under the Golfinho concession contract, which has been extended to 2042 from previously 2031. 

    OTHER ITEMS

    On 28 March, BW Energy entered into an up to USD 500 million Reserve Based Lending (RBL) facility, replacing the 2022 facility which was increased to USD 300 million in 2023. The facility has an initial commitment of USD 400 million, which can be expanded with an additional USD 100 million subject to mutual agreement and satisfaction of customary conditions precedent. The senior secured long-term debt facility matures on 1 October 2030. 

    At 31 March 2024, BW Energy had a cash balance of USD 286.9 million, compared to USD 221.8 million at end-December. The increase reflects cash flow from operations less debt repayment and investments in the period. The Company had a total drawn debt balance of USD 599 million including the MaBoMo lease, the Dussafu RBL, the Golfinho prepayment facility and bond debt. 

    Production guidance for 2025 is unchanged at between 11 and 12 mmbbls net to BW Energy. Expected full-year operating cost is maintained at USD 18 to 22/bbl (the basis for calculating unit operating cost has been revised from 2025 onwards to exclude royalties, tariffs, workovers, domestic market obligation purchases, production sharing costs, and incorporates the impact of IFRS 16 adjustments, primarily impacting Gabon operations). Net capital expenditures for 2025 are expected at USD 650-700 million, up from USD 260 to 285 million previously. The increased follows the FIDs for the Maromba development and the Golfinho Boost project.  

    DEVELOPMENT PLANS 

    BW Energy confirmed a substantial oil discovery with good reservoir and fluid quality in the Bourdon prospect offshore Gabon. Management estimates indicate 56 million barrels oil in place, of which approximately 25 million barrels are considered recoverable, potentially through a future development cluster following the MaBoMo blueprint. The discovery will enable the Company to book additional reserves not included in its 2024 Statement of Reserves.  

    Work on optimising Golfinho production continued to focus on stabilising FPSO performance and selected future well workovers. In mid-April, BW Energy made FID on the Golfinho Boost project with planned investments of USD 107 million. The project is set to add 3 kbbls/day of incremental production and 12 mmboe of further reserves, while also increasing production uptime and reducing OPEX with first oil planned in the second half of 2027.   

    BW Energy has also made FID for the Maromba development offshore Brazil based on a capex-efficient, phased development with a wellhead platform (WHP) and FPSO. The development targets 500 million barrels of oil in place in the highly delineated Maastrichtian sands. First oil is planned in the second half of 2027 with expected plateau production of 60,000 barrels of oil per day, enabling short pay-back time and more than doubling BW Energy’s total net production by 2028.    

    In Namibia, BW Energy continued to prepare for an appraisal well targeting the Kharas Prospect northwest in the Kudu licence with planned start-up drilling operations in the second half of 2025. Long-lead items have been procured and the Company is reviewing offers for rig capacity.  

    REPORTS AND PRESENTATION 

    Please find the first-quarter earnings presentation attached. The reports are also available at: 

    www.bwenergy.no/investors/reports-and-presentations 

    BW Energy will today hold a live presentation at Hotel Continental, Oslo, Norway, and conference call followed by a Q&A hosted by CEO Carl K. Arnet, CFO Brice Morlot, CSO Thomas Young, CTO Jerome Bertheau and CCO Thomas Kolanski at 09:30 CEST. 

    You can follow the presentation via webcast with supporting slides, available on: 

    VIEWER REGISTRATION • Q1 2025   

    Please note, that if you follow the webcast via the above URL, you will experience a 30 second delay compared to the main conference call. The Web page works best in an updated browser – Chrome is recommended. 


    For further information, please contact: 

    Brice Morlot, CFO BW Energy

    +33.7.81.11.41.16, ir@bwenergy.no
     

    About BW Energy: 

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

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

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    The MIL Network –

  • MIL-OSI: BW Energy: Makes FID on Maromba field development in Brazil  

    Source: GlobeNewswire (MIL-OSI)

    BW Energy makes FID on Maromba field development in Brazil  

    BW Energy is pleased to announce the final investment decision (FID) for the Maromba development offshore Brazil based on a capex-efficient development with an integrated drilling and wellhead platform (WHP) and a refurbished FPSO. The development targets 500 million barrels of oil in place in the highly delineated and tested Maastrichtian sands. First oil is planned by end-2027 with expected plateau production of 60,000 barrels of oil per day. The development will more than double BW Energy’s total net production by 2028 and has short pay-back time.    

    Project highlights: 

    • Initial six production wells from the WHP 
    • The WHP will be a converted drilling jack-up with up to 16 well slots and production- and test-flowlines connected to the redeployed FPSO BW Maromba (ex. Polvo) 
    • A second six-well drilling campaign will fully leverage the established field infrastructure and allow for appraisal and testing of other reservoir horizons  
    • BW Maromba refurbishment and life extension work is already underway at the COSCO yard in China 
    • Total investments of USD ~1.5 billion, split USD ~1.2 billion for the initial development and a further USD ~0.3 billion for the secondary drilling campaign 

    “We have spent time on optimising the Maromba development plan and concluded on a highly competitive concept with a repurposed jack-up platform and FPSO, repeating the approach we very successfully applied in Gabon. Maromba will enable BW Energy to deliver industry-leading organic production growth and position the Company for further low-cost developments of known potential developments. We expect to unlock significant shareholder value in all realistic oil price scenarios,” said Carl K. Arnet, the CEO of BW Energy. 

    Capex-efficient development concept  

    The development comprises six initial Maastrichtian horizontal production wells with dry-trees and artificial lift by downhole Electric Submersible Pumps (ESPs). Production will be transferred from the WHP to the spread moored FPSO Maromba for treatment, storage and offloading to shuttle tankers. The WHP will be installed in ~150 meters of water depth with full drilling facilities. Once installed, the infrastructure will also enable the planned secondary six-well drilling campaign and provide potential for future development phases with low-cost infill wells, potential water injectors as well as allowing appraisal and production of multiple proven reservoirs outside the main Maastrichtian resources.    

    The FPSO Maromba is currently at the COSCO yard in China, undergoing initial refurbishment and life extension work following completion of condition assessment and FEED.  The FPSO is designed with 1 million barrels of storage capacity. The total liquid capacity will be 100,000 barrels per day with oil production capacity of 65,000 barrels per day and water treatment capacity of 85,000 barrels per day.  

    BW Energy has agreed to acquire a jack-up with complete leg extensions for USD 107.5 million. The rig will undergo a limited conversion to serve as an integrated drilling and wellhead platform prior to installation on the field.

    “The repurposing of existing energy infrastructure enables reduced investments and shorter time to first oil with significantly reduced greenhouse gas emissions in the development phase, as compared to installing new production assets,” said Carl K. Arnet, the CEO of BW Energy. 

    Attractive field economics  

    BW Energy expects to invest approximately USD 1 billion before first oil and a further USD 200 million to complete the initial drilling campaign before end 2028. This will be followed by USD 300 million for the additional six wells in the second campaign with completion before end 2030.  

    BW Energy anticipates Maromba to achieve a competitive production cost, averaging less than USD 10 per barrel over the first five years, underpinning robust project economics. 

    Estimated project IRR exceeds 30% at oil at USD 60 per barrel Brent and break-even at 10% IRR is around USD 40 per barrel Brent. The heavy oil from the Maromba is expected to trade at a discount to Brent of approximately USD 7.5 per barrel.  

    The development will be financed through existing cash and undrawn facilities, cashflow from operations, and separate infrastructure financing solutions related to the FPSO and WHP. The Company is also evaluating a range of financing alternatives, including a corporate facility, reserve-based lending, trader financing and the potential issuance of bonds.  

    BW Energy has also received a commitment by the main shareholder BW Group for a USD 250 million shareholder loan facility.   

    The Maromba field 

    Maromba is located 100 km off the Brazilian coast in the Campos Basin. Nine wells were drilled in the license between 1980 and 2006, with oil found in eight of these across various reservoirs. The development project targets 123 million barrels of 2P reserves (management estimates), with potential additional resources from other reservoirs to be appraised along the development. BW Energy acquired 100% ownership in Maromba in 2019 for a total of USD 115 million, of which USD 85 million remains to be paid to the sellers at predefined milestones. Magma Oil holds a 5% back-in right in the Maromba licence which is expected to be executed upon first oil.  

    BW Energy is following all the steps of the approval process with the Brazilian O&G Regulator (ANP) and with the Environmental Agency (IBAMA). The Company will now proceed with contracting of long-lead items and services, as well as finalising the financing agreements.   

    More information on the Maromba development will be shared in connection with the first quarter 2025 earnings presentation held at Teatersalen, Hotel Continental in Oslo, Norway, 09:30 CEST on 5 May.  

    The presentation can also be followed via webcast on: 

    VIEWER REGISTRATION • Q1 2025  
    https://events.webcast.no/viewer-registration/9LwLZF1X/register   

    For further information, please contact: 

    Brice Morlot, CFO BW Energy

    +33.7.81.11.41.16
    ir@bwenergy.com  

    About BW Energy  

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

    This information is considered inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Regine Andersen, 05 May 2025.

    The MIL Network –

  • MIL-Evening Report: 5 huge climate opportunities await the next parliament – and it has the numbers to deliver

    Source: The Conversation (Au and NZ) – By Anna Skarbek, Climateworks CEO, Monash University

    Australians have returned an expanded Labor Party to government alongside a suite of climate-progressive independents. Meanwhile, the Coalition – which promoted nuclear energy and a slower renewables transition – suffered a historic defeat.

    Labor also looks set to have increased numbers in the Senate, where the Greens are likely to hold the balance of power.

    These numbers mean support for progressive climate and energy policy in Australia’s 48th parliament is shaping as stronger than the last. So what does this mean as Australia seeks to position itself as a leader in the global net zero economy?

    In its first term in government, Labor laid the groundwork for stronger climate action, including legislating an emissions-reduction target and putting crucial policies and organisations in place. The next parliament will be well-placed to build on these foundations. Here, we explain where key opportunities lie.

    1. National emissions target for 2035

    By September this year, all signatories to the global Paris Agreement must set emissions reduction targets out to 2035.

    Labor is waiting on advice from the Climate Change Authority before setting its target. The authority’s initial advice last year suggested a target between 65% and 75%, based on 2005 levels.

    Some countries have already set their targets. The United Kingdom, for example, will aim for a reduction of at least 81% by 2035, based on 1990 levels.

    2. A firm plan for net-zero

    Australia has committed to reaching net-zero emissions by 2050. Getting there will require innovation and investment across the economy. In the last term of government, Labor began
    developing net-zero plans for each economic sector. They comprise energy, transport, industry, resources, the built environment, and agriculture and land.

    The plans are due to be finalised this year. They will act as a tangible map for Australia to meet both net zero and the 2035 emissions-reduction target, and are keenly awaited by state governments, industry and investors.

    This policy area presents the broadest opportunity for the crossbench to exert influence for greater ambition, scale and pace. Neither the 2035 target nor the sector plans need to go through parliament – however they could feature in broader parliamentary negotiations.

    Separately, the Safeguard Mechanism will be reviewed in 2027, during this parliament. The policy aims to reduce emissions reductions from Australia’s biggest greenhouse-gas polluters. It is key to reaching net zero in Australia’s industrial sector, and an important moment to ensure the policy reduces emissions at the rate needed.

    3. Bidding to host COP31

    Australia is bidding to host next year’s United Nations global climate talks, or COP, in partnership with Pacific Island nations. The bid was opposed by the Coalition.

    A decision on the COP host is expected in June. If Australia succeeds, the federal government will seek to use the high-profile global gathering to showcase its climate credentials – and there will be high expectations from Pacific co-hosts. So all policy between now and then really matters.

    4. An energy system to make Australia thrive

    Energy produces about 70% of Australia’s emissions. Tackling this means reducing emissions from electricity through renewable generation. Elsewhere in the economy, it means switching from gas, petrol and diesel to clean electricity.

    The government’s plan to reach 82% renewable energy by 2030 remains crucial. Australia’s electricity system is expected to reach around 50% renewable energy this year. But there is more work to do.

    A review of the National Electricity Market is due this year. It is expected to recommend ways to promote greater investment in renewable generation and storage. This includes what policy might follow the Capacity Investment Scheme, a measure to boost renewables investment which will be rolled out by 2027.

    Faster action on the renewable shift can also be achieved through the Australian Energy Market Operator’s next Integrated System Plan – the nation’s roadmap for guiding energy infrastructure and investment.

    Labor also has scope to improve energy efficiency, and better match energy demand and supply – especially at times of peak energy use. The government’s commitments to subsidise home batteries, and expand the Clean Energy Finance Corporation, will help achieve this. The crossbench, including the Greens, is likely to seek greater investments to reduce household energy use and costs.

    Beyond this, Australia’s electricity grid needs to be double the size of what’s currently planned, to power the entire economy with clean energy.

    5. Leverage clean energy export advantages

    Australia generates about a quarter of its GDP from exports – many of them emissions-intensive such as fossil fuels, minerals and agricultural products.

    In his election victory speech, Prime Minister Anthony Albanese urged Australia to seize the moment at a time of global economic disruption. Key to this will be building on the Future Made in Australia agenda and ensuring Australia makes the most of its competitive advantages as the world transitions to net-zero.

    This will include:

    • leveraging a strong reputation as a reliable trade partner
    • capitalising on our world-leading solar and wind energy resources to produce low-emissions goods for export
    • developing the industry around critical minerals and rare earths needed in low-emissions technologies
    • helping metals and minerals sectors achieve net-zero emissions pathways.

    This will be central to trade negotiations in the years to come. Realising Australia’s green exports aspiration requires action abroad as well as at home.

    A game-changing decade

    This decade is crucial to Australia’s future economy, and to the success of Australia’s long-term transition to net zero emissions. Our work has shown Australia can slash emissions while the economy grows.

    The question now is how quickly the re-elected government – indeed, the next parliament – can realise Australia’s ambition as a renewable energy superpower.

    The next three years will provide vital opportunities and they must be seized – for the sake of our energy bills, our economic prosperity and Australia’s reputation on the world stage.

    Anna Skarbek is on the board of the Net Zero Economy Authority, SEC Victoria, the Centre for New Energy Technologies, the Green Building Council of Australia, and the Asia-Pacific Advisory Board of the Glasgow Financial Alliance on Net Zero. She is CEO of Climateworks Centre which receives funding from philanthropy and project-specific financial support from a range of private and public entities including federal, state and local government and private sector organisations and international and local non-profit organisations. Climateworks Centre works within Monash University’s Sustainable Development Institute.

    Climateworks Centre is a part of Monash University. It receives funding from a range of external sources including philanthropy, governments and businesses. Businesses such as mining companies and industry associations have previously co-funded Climateworks’ research on industrial decarbonisation, and may benefit from policies mentioned in this article.

    – ref. 5 huge climate opportunities await the next parliament – and it has the numbers to deliver – https://theconversation.com/5-huge-climate-opportunities-await-the-next-parliament-and-it-has-the-numbers-to-deliver-255772

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: After its landslide win, Labor should have courage and confidence on security – and our alliance with the US

    Source: The Conversation (Au and NZ) – By Joanne Wallis, Professor of International Security, University of Adelaide

    The re-election of the Albanese Labor government by such a wide margin should not mean “business as usual” for Australia’s security policy.

    The global uncertainty instigated by US President Donald Trump means Australia’s security landscape is very different today from when Labor was first elected in 2022, or even when its Defence Strategic Review was released in 2023.

    As we argue in our recent book, the Albanese government faces increasingly difficult questions.

    How can we maintain our crucial security alliance with the US while deepening partnerships with other countries that have reservations about US policy?

    And, given Trump’s recent actions, how much can we continue to rely on the United States and what are the potential costs of the alliance?

    With a massive parliamentary majority, the new government has an opportunity for bold thinking on national security. This is not the time for Australia to keep its head down – we need to face the rapidly changing world with our heads held high.



    Read more:
    Blaming Donald Trump for conservative losses in both Canada and Australia is being too kind to Peter Dutton

    Trump 2.0 is not the same as 1.0

    We do not advocate Australia step away from the US alliance. We are also realistic that decades of defence procurement mean Australia is heavily reliant on US defence materiel (and its subsequent sustainment) for our security.

    The deep interoperability between the Australian Defence Force and the US military is something alliance sceptics too readily gloss over: much Australian military capability cannot function without ongoing American support.

    At the same time, many alliance advocates underestimate the impact of the new challenges we face. Some assumed a continuity between the first and second Trump administrations. However, we are not convinced the lessons learned from Trump 1.0 are still valid.

    A key difference between Trump 1.0 and 2.0 is the effect of his move away from respecting international law.

    For example, the US has voted with Russia against UN Security Council resolutions condemning the Ukraine war, withdrawn from the Paris Climate Agreement and World Health Organization, and damaged relations with NATO allies, among many other actions.

    As a middle power, Australia has long relied on the “rules-based order” to advance its foreign and strategic policy interests.

    Even if “normal transmission” resumes under a new US president in 2029, we are concerned the Trump administration’s structural changes to the international order will not easily be wound back. American soft power has been decimated by cuts to the US State Department, USAID and international broadcasting services. This will also not be rebuilt quickly.

    A second difference is there are few “adults left in the room” in the Trump administration.

    The advisers who kept Trump in check during his first administration have been replaced by loyalists less likely to push back against his ideas and impulses. This includes his long-held grievance that allies have been exploiting the US.

    The Albanese government needs to think more deeply about how to hedge against dependence on the US. This means investing in relations with other partners, especially in Asia and the Pacific, and working with them to promote the laws, rules and norms that maintain stability and predictability in global affairs.

    An idealistic vision for the future

    We are also concerned that many in the national security community base their policy recommendations on the assumption that war between the US and China is inevitable, and such a conflict could draw in Australia as America’s ally.

    Rather, the Trump administration’s preference for “deals” opens the possibility the US and China might come to an arrangement that will affect US presence and leadership in our region.

    Australia may not be prepared for this. The new government must engage in more open discussion about how we would maintain our security if the US does pull back from the region or makes decisions Australians don’t support.

    As a start, we need to consider how Australia can better pursue self-reliance within the alliance structure. We need a range of strategic options in the future that don’t rely on an outdated image of the US as a reliable partner.

    This debate should be guided by what we call “pragmatic idealism”.

    Rather than accepting the way things are, the government and members of the national security community need to re-imagine how things can be.

    We argue the Albanese government should draw confidence from its thumping electoral win to articulate a politics of hope, opportunity and possibility for our future security. This needs to drown out the cynicism, passive acceptance and learned helplessness that often characterises Australian national security debates.

    We are conscious that being “idealistic” is often dismissed as impractical, naïve “wishful thinking”. But the new government needs to demonstrate to Australians it has the courage to face the diverse, interlinked and complex security challenges we face – potentially on our own. These extend to issues such as cyber attacks, transnational crime and climate change.

    Practical steps

    As a first step, the Albanese government urgently needs to commission an integrated National Security Strategy that considers all the tools of statecraft Australia can use to respond to these challenges.

    This means engaging more with partners in Southeast Asia and the Pacific. In particular, Australia should consider investing more heavily in information programs and public diplomacy as the US withdraws from this arena.

    The government must also engage better with the public and be more transparent about its security options and decisions.

    On AUKUS, for instance, the government must build its “social licence” from the public to sustain such a massive deal across generations. Australians need to be better informed about – and consulted on – the decisions they will ultimately pay for.

    This also includes being upfront with Australians about the need for greater defence spending in a tumultuous world.

    It is understandably tempting for the new Albanese government to continue a “small target” approach when it comes to the US. This has meant minimising domestic debate about the alliance that could undermine support for AUKUS and avoid risking the ire of a thin-skinned Trump.

    But the government needs the courage to ask difficult questions and imagine different futures.

    Joanne Wallis receives funding from the Australian Research Council, the Australian Department of Defence, and the government of South Australia. She is a Senior Nonresident Fellow of the Brookings Institution in Washington, D.C.

    Rebecca Strating receives funding from the Australian Department of Foreign Affairs and Trade.

    – ref. After its landslide win, Labor should have courage and confidence on security – and our alliance with the US – https://theconversation.com/after-its-landslide-win-labor-should-have-courage-and-confidence-on-security-and-our-alliance-with-the-us-255598

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: WATCH: Rep. Jim Costa Honors Central Valley Heroes

    Source: United States House of Representatives – Congressman Jim Costa Representing 16th District of California

    WASHINGTON – Congressman Jim Costa (CA-21) took to the floor of the U.S. House of Representatives to pay tribute to the lives and service of two Central Valley heroes – Marine Lance Corporal Marcelino M. Gamino and U.S. Army veteran Guadalupe Castillo.
    In a heartfelt address, Costa honored Lance Corporal Marcelino M. Gamino, a proud son of Fresno sadly passed away while serving his country. At just 28 years old, Gamino served as a combat engineer with the 1st Combat Engineer Battalion, 1st Marine Division. His bravery and dedication are a testament to the values of service and sacrifice that define the San Joaquin Valley.

    REMARKS as delivered:

    Mr. Speaker… I rise today to honor the life of Lance Corporal Marcelino M. Gamino, a proud Marine of Fresno, California, who gave his life in service to our nation. He answered the call to serve in May 2022, quickly rising to the rank of Lance Corporal by August 2024. 
    At just 28 years old, Marcelino served with distinction as a combat engineer in the 1st Combat Engineer Battalion, 1st Marine Division. His commitment took him across the world, deploying to Darwin, Australia, as part of the Marine Rotational Force. 
    His service was marked by distinction, earning him the National Defense Service Medal and the Sea Service Deployment Ribbon. We mourn his tragic loss, and our hearts are with his family and fellow Marines. His courage and service will never be forgotten. Semper Fi!

    Costa also recognized Guadalupe Castillo, who answered the call to serve his country at just 18 years old. A U.S. Army World War II veteran, he fought in some of the most pivotal battles in history, including the Battle of the Bulge, D-Day at Omaha Beach, and the Liberation of France. At 100 years old, Mr. Castillo left behind a remarkable legacy of courage, service, and devotion to his community and country. Castilllo sadly passed away on Easter Sunday. 

    REMARKS as delivered:

    Mr. Speaker… I rise to honor the incredible life of Guadalupe Castillo, a true American hero of Fresno, California.   
    At just 18, he entered the U.S. Army and faced some of history’s fiercest battles: the Battle of the Bulge, D-Day at Omaha Beach, and the Liberation of France from tyranny. His courage and sacrifice helped shape the course of history. But his service didn’t end on the battlefield. 
    After his service, he devoted 20 years to helping fellow veterans through the VA, inspiring his son Manuel to follow in his footsteps. I had the honor of meeting Mr. Castillo shortly before he passed away on Easter Sunday.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: FS attends ADB meeting in Milan

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan attended the Constituency Meeting at the 58th Annual Meeting of the Asian Development Bank (ADB) in Milan, Italy yesterday.

    Discussions in the Constituency Meeting focused on co-operation between member countries, ways to navigate current economic risks and uncertainties in the region, optimal use of resources to better assist low- and middle-income countries, and provision of technical assistance and support for capacity building in such countries.

    Mr Chan stated that the Hong Kong Administrative Region Government welcomes the ADB’s strengthening of support for developing countries in areas such as addressing climate change, boosting the private sector, promoting regional co-operation, and facilitating digital transformation. In addition, he said it supports enhancing technical assistance to improve the effectiveness of development projects.

    The finance chief stressed that, as an international financial centre, Hong Kong will continue to share its expertise with other members in areas such as establishing capital markets, promoting green transitions and the development of green finance, and infrastructure financing.

    Mr Chan also met Rachel Thompson, the Director representing the Hong Kong, China constituency on the ADB Board of Directors, to discuss how Hong Kong can better assist the ADB in the issuance of insurance-linked securities, including catastrophe bonds.

    In the evening, Mr Chan attended a reception organised by the meeting’s host country, Italy.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Inside information: Jouko Pölönen appointed as the CEO of eQ Plc

    Source: GlobeNewswire (MIL-OSI)

    eQ Plc Stock exchange release, inside information

    5 May 2025, at 8:00 AM

    The Board of Directors of eQ Plc (“eQ”) has decided to appoint M.Sc. (Econ & Bus. Adm.), eMBA Jouko Pölönen as the company’s new Chief Executive Officer. Jouko Pölönen will assume the position no later than 5 November 2025. Since 28 October 2024, Janne Larma has been serving as eQ’s interim CEO and will continue in that role until Pölönen is able to start as a new CEO.

    eQ will host a press conference regarding Pölönen’s appointment on 5 May at 1:30 PM, welcoming representatives of the media, investors and analysts. Further details regarding participation can be found at the end of this release.

    Pölönen, 55, has made a distinguished career in the financial sector. Most recently, he has served for seven years as CEO of Ilmarinen Mutual Pension Insurance Company. Prior to that, he held roles such as Head of Banking at OP Financial Group and CEO positions at OP Corporate Bank Plc, Helsinki Area Cooperative Bank, and Pohjola Insurance Ltd.

    “eQ is one of the leading asset managers in Finland, with a particularly strong position in private equity and real estate asset management. I am excited to join eQ’s talented team and confident that together we can create added value for our clients and shareholders. I am highly goal- and results-oriented. I expect that we can drive profitable growth during the coming years,” says Pölönen.

    Chair of the Board Georg Ehrnrooth says that the Board is very pleased to have appointed Pölönen as CEO of eQ.

    “We are convinced that Jouko is the right person to lead eQ and to implement our growth objectives and strategy together with our skilled and professional team,” Ehrnrooth says.

    “Jouko brings in his extensive experience in the financial sector, leadership, and strategic development and execution. In addition, Jouko has a broad network of contacts with investors, businesses, and the public sector. While eQ’s financial performance in the past couple of years has not met the targets, we believe the fundamentals for a turnaround are already in place,” Ehrnrooth continues.

    Pölönen sees significant opportunities in the asset management market:

    “eQ has excellent products that many institutions and family offices rely on. More and more private individuals are saving and investing, and we want to offer also to them the best wealth management products and services to build their wealth. I consider professional asset management as a highly interesting and growing market. A key factor for me in a accepting this role was also the opportunity to become an owner myself,” Pölönen says.

    The three largest shareholders of eQ have agreed to sell a total of one million (1,000,000) eQ shares to Pölönen. Technically, the shares will be sold to Pölönen’s personal investment company. This amount represents approximately 2.4 percent of eQ’s total share capital. As a result of the transaction, Pölönen will rank among the ten largest shareholders of eQ. The share sale will be completed during May.

    Georg Ehrnrooth comments:

    “We want to ensure Jouko’s commitment and give him a strong incentive to drive growth with an entrepreneurial spirit and act in accordance with eQ’s values.”

    Additionally, the Board of Directors has decided to grant Pölönen 100,000 stock options under the 2025 option program. The terms of the option program were announced on 4 February 2025 and are available on the company’s website. Pölönen will receive the options upon the commencement of his employment.

    Jouko Pölönen’s CV is attached to this release.

    Press Conference

    eQ will hold a press conference today, 5 May 2025, at 1:30 PM. Speakers will include Georg Ehrnrooth, Chair of the Board; Janne Larma, interim CEO of eQ; and Jouko Pölönen, appointed CEO of eQ. The event will take place at Studio Eliel in Sanomatalo, Helsinki. Participants will have the opportunity to ask questions after the presentations. The event can also be followed via webcast at: https://eq.videosync.fi/2025-05-05

    eQ Plc

    Additional information:

    Janne Larma, interim CEO, tel. +358 40 500 4366
    Georg Ehrnrooth, Chair of the Board, tel. +358 9 6817 8777 

    Distribution: Nasdaq Helsinki, www.eQ.fi, media

    eQ is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the group total approximately EUR 13.6 billion. Advium Corporate Finance, which is part of the group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets. The share of the group’s parent company eQ Plc is listed on Nasdaq Helsinki. More information about the group is available on our website at www.eQ.fi.

    Attachment

    The MIL Network –