NewzIntel.com

Category: European Union

  • MIL-OSI Europe: Briefing – The fiscal situation in Romania – 10-07-2025

    Source: European Parliament

    This briefing outlines recent and past developments concerning Romania’s fiscal situation and the steps taken under the Excessive Deficit Procedure. On 4 June 2025, the Commission issued a recommendation stating that Romania had failed to take effective corrective action. Should the Council adopt a decision in this regard, the Commission would be obliged to propose the suspension of payments or commitments under the ESI Funds and the RRF. Such a suspension could carry significant economic and social repercussions. Finally, this briefing recounts the situation of Spain and Portugal which also faced a suspension of payments in 2016, and highlights the role of the European Parliament in this process.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Diplomacy in the digital age: Foreign Secretary’s speech, July 2025

    Source: United Kingdom – Government Statements

    Speech

    Diplomacy in the digital age: Foreign Secretary’s speech, July 2025

    Foreign Secretary David Lammy delivered a speech on diplomacy in the digital age whilst in Singapore.

    It’s great to be here today.  

    As you have heard, I recently marked 25 years as a member of Parliament and this week one year as Foreign Secretary. It’s a pleasure to visit your great country following your sixtieth birthday as a nation. 

    Whenever I’ve come to Singapore and the wider ASEAN region, I’m struck by the innovative spirit, the creativity and the optimism.  

    Sixty years ago, Prime Minister Harold Wilson talked of the “white heat of technology” transforming British society and industry. Today, the whole world is being radically reconfigured by technology, but nowhere faster, or more successfully, than here.  

    I’m particularly pleased to be here after my second ASEAN foreign ministers meeting in Malaysia. In Laos last year, I promised to reconnect Britain to the Indo-Pacific and that is well underway.  

    In just over a year, I’ve made 5 visits spanning 10 countries to the region. I’ve no doubt this will rise during my time in this job.   

    The Indo-Pacific matters to the UK. ASEAN will be the world’s fastest-growing economic bloc over the next decade. Your investments into Britain like Malaysian firm SMD Semiconductor’s new R&D hub in Wales, your market of 700 million consumers are a huge part of our growth ambitions.  

    Over the past year, we have been delivering on our promise to bring our economies closer together. Our CPTPP membership now ratified, our free trade agreement with India now signed our Industrial and Trade Strategies now published all speak to a hugely ambitious future for Britain in the Indo-Pacific.  

    But we want to go much further.  We’re working with ASEAN on their Power Grid and economic resilience.  We support CPTPP widening, deepening, and starting dialogues with trading blocs like ASEAN and the EU.  

    We are exploring other agreements, too, like a deeper FTA with South Korea or accession to the Digital Economic Partnership Agreement which Singapore co-founded. Today’s ‘digital trade’ will tomorrow simply be ‘trade’, and Britain is committed to making it faster, cheaper and easier. 

    As you in Singapore know very well this region is the crucible for global security. Partner countries like Britain must stand up for an open, stable and rules-based international system because our region’s security and your region’s security are inextricably linked. 

    Russia’s illegal invasion of Ukraine drove market turbulence in Asia. Any major supply chain disruption in Asia could push prices up in Britain. If we have learnt one lesson over the past decade, it is that economic security does not respect borders.  

    That is why Britain’s new National Security Strategy recommitted to the vision of a free and open Indo-Pacific region. Our Carrier Strike Group recently sailed through your waters – a deployment involving 12 other nations.  

    We’re deepening our many regional security partnerships including AUKUS and the Five Power Defence Arrangements. 

    HMS Prince of Wales, as we’ve heard, is participating in Exercise Bersama Lima in September and the Malaysian chair kindly invited me to the ASEAN Regional Forum just yesterday, where I underlined British support for ASEAN centrality and our growing cooperation against transnational crime and illicit finance. 

    In Singapore, you have proven over generations that it is not size which determines success it is strategic clarity. This is true of technology more than any other area. Singapore has shown what’s possible when digital innovation is matched with long-term thinking and national purpose.  

    Back in 1981, when most of us were still working out what a computer was, your leaders set up a National Computerisation Committee. In 2014, Prime Minister Lee Hsien Loong launched the whole-of-government Smart Nation initiative. Then in 2019, Teo Chee Hean unveiled a National AI Strategy.  

    Each time, your leaders were ahead of the game. Each time there was a broader lesson. Singapore didn’t get ahead by throwing money at the private sector and hoping for the best.

    Instead, you built serious public capability like SingPass, thanks to deep technical expertise inside government and investments in areas like compute and data infrastructure.  

    Starting in this job, I said that Britain needed to do more listening and less lecturing. A huge part of my trip this week has been to listen and, I hope, learn lessons on how we can pursue a similarly long-term strategy embracing technology. That vision must include specific focus on the intersection of AI and diplomacy.  

    This is not yet a staple of foreign ministry and foreign ministers’ discussions at least in my experience. But I believe that unless we lift our heads above the rat-race of crises and summits and examine the longer-term trends reshaping our world we will be boiled like the proverbial frog.   

    AI is not just the next rung in the technological ladder. It will deliver a paradigm shift in the distribution and exercise of power. It will redefine how nations project influence how threats emerge and how we defend ourselves. It will therefore transform how diplomacy is conducted. 

    As Prime Minister Wong said earlier this year: “The once-rising tide of global cooperation that defined the past decades is giving way to one of growing competition and distrust.  As a result, the world is becoming more fragmented and disorderly”.

    There is much evidence of emerging technology catalysing the deterioration of both domestic and international norms. AI is at the spearhead of hybrid threats like disinformation. It is not enough for responsible states to complain about others’ reckless behaviour.  

    If we do not invest in gaining technological edge then our influence will inevitably decline. So today I want to outline a more hopeful vision of a sovereign, AI-enabled foreign policy. 

    I am proud of the role British diplomacy played at the Bletchley AI Safety Summit, our creation of the AI Security Institute, our plans for a new counter-hybrid taskforce in the FCDO to ready us for this new age. 

    I’m pleased also to see our work with Singapore in areas such as Responsible AI in the Military Realm and with ASEAN on AI for development. 

    But there has been little discussion between Britain and partners in the Indo-Pacific and beyond on how to use AI and advanced technology to make our diplomacy more effective.   

    I am determined to address this gap as Foreign Secretary, bringing AI to the centre of the FCDO’s policy machine. Like most foreign ministries, too many Foreign Office practices have changed little over the past half century. But the old levers of government – briefings, memos, lengthy debates on drafting – are too slow and cumbersome for the pace of modern statecraft.  

    In an age of ever-accelerating speed and complexity we need the tools to match. Let me be clear: AI will obviously not solve foreign policy. It will not eliminate risk, nor remove the need for careful human judgement and the ability of people to build trusting relationships, as I have been doing with ASEAN partners this week.  

    Diplomacy in 2025 needs machine speed and a human touch. It can help us to make better decisions amidst rising uncertainty. It can improve our ability to detect early signals of crisis, to simulate the likely effects of policy choices and to respond with speed and confidence. 

    Imagine for a moment an AI-powered unit at the heart of a foreign ministry. That could catalyse patterns of military movement, energy flows, and online narratives, model how a diplomatic crisis in one part of the world will have ripple effects elsewhere, red-team our response to a crisis – attacking our own policies before others can. Or flag emerging risks that human analysts might miss, especially when they emerge in grey zones favoured by adversaries.

    These capabilities are not science fiction. They are already being employed. The United States’ DARPA and KAIROS projects already simulate complex political developments and anticipate conflict escalation. Estonia’s STRATCOM Centre uses AI-enabled systems to detect disinformation campaigns in real time.  

    Of course, Singapore’s Ministry of Trade and Industry uses predictive analytics to flag risks to critical supply chains. 

    The question before us is not whether AI will shape foreign policy. It is who will shape it, and how.  

    In the British Foreign Office, this government is investing £290 million in reforming our Department, helping to equip our teams with the capabilities and technologies that the modern era demands.

    But outside of the United States and China, no country has the scale to deliver all the capabilities we need independently.  

    My call today is therefore for more collaboration, more AI diplomacy within a perimeter of values. I want partners such as Britain and Singapore to align standards, share tools and develop models that reflect our shared principles.  

    Deep bilateral partnerships will be at the core of Britain’s approach. For us, our special relationship with the United States will remain foundational rooted in particular on our deep security links.  

    With the European Union, we can pursue AI cooperation through the prism of foreign policy and security, not just regulation, and I will be discussing this with Kaja Kallas as part of our recently agreed Security and Defence Partnership.  

    With India through the ‘Technology Security Initiative’ we agreed last year, we will focus collaboration more sharply in critical and emerging technologies.  

    And with other Indo-Pacific partners I hope that we can build on initiatives like the UK-ASEAN AI Innovation Summit later this year and extend cooperation to AI-enabled foreign policy.  

    I said that you in Singapore have shown the power of long-term thinking. The importance of a long-term vision, and I hope we can apply that same approach to breaking down the silos between foreign policy and technology.  

    We live in a volatile world. Technology is reshaping our societies, making power more diffuse. Nations like Britain and Singapore need to equip ourselves with the tools to navigate these shifts and that means fusing AI and diplomacy, focusing on a long view of change and doubling down on our shared interests.  

    Thank you.

    Updates to this page

    Published 12 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Government tasks Business Sweden with promoting further investment in Swedish battery value chain

    Source: Government of Sweden

    The Government decided today to task Business Sweden with stepping up its efforts to promote investments in the Swedish battery value chain, i.e. in all parts of production. The aim is to enable capital and important expertise to be brought into and retained in the Swedish business sector. The assignment also includes helping relevant companies and national, regional and local actors with advice and contacts.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Pedestrians struck by a tram at Staniforth Road

    Source: United Kingdom – Executive Government & Departments

    News story

    Pedestrians struck by a tram at Staniforth Road

    Collision between a tram and two pedestrians at Staniforth Road, Sheffield, 22nd June 2025.

    The crossing involved in the accident.

    At around 16:14 on 22 June 2025, a tram operating on the Sheffield Supertram network was involved in a collision with two pedestrians on a crossing at Staniforth Road, Sheffield. The tram was travelling at around 15 mph (25 km/h) at the time of the collision. The pedestrians, who were young people, were both injured in the accident, one of them seriously.

    The crossing is situated just to the south of the road junction where Woodbourn Road meets Staniforth Road. At the time of the accident, the two pedestrians, who had previously travelled north along Woodbourn Road, were moving eastwards over the crossing.

    The road junction is protected by road traffic lights and tram signals, while signs and road markings inform crossing users of the presence of trams and instruct them to look both ways. Users approaching the crossing from Woodbourn Road are separated from the tramway by a fence. This is around 44 metres long and ends at the crossing.

    Our investigation will seek to identify the sequence of events which led to the incident. It will also consider:

    • the actions of those involved and the factors that may have influenced them
    • the audibility of warnings to users by trams at such crossings
    • the instruction and assessment of tram drivers
    • the management of risk at this crossing and the wider strategy of South Yorkshire Future Tram Ltd (the operator of the Supertram system) for identifying, assessing and mitigating risks at crossings such as that at Staniforth Road
    • any underlying management factors.

    Our investigation is independent of any investigation by the tramway industry or by the industry’s regulator, the Office of Rail and Road.

    We will publish our findings, including any recommendations to improve safety, at the conclusion of our investigation. This report will be available on our website.

    You can subscribe to automated emails notifying you when we publish our reports.

    Updates to this page

    Published 14 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UK Trade Policy updated to benefit citizens and allies

    Source: United Kingdom – Executive Government & Departments

    World news story

    UK Trade Policy updated to benefit citizens and allies

    Boost for British consumers and Developing Countries as UK launches new trade measures

    • New measures will make it easier for developing countries to trade, supporting jobs and economic growth in the UK overseas. 
    • UK businesses and consumers to benefit from more competitively priced imports as part of upgrades to the Developing Countries Trading Scheme. 
    • Part of the UK’s Plan for Change and recently launched Trade Strategy to grow trade with markets of the future, strengthen global partnerships and deliver for British households. 

    British consumers and businesses are set to benefit from a package of new trade measures unveiled today (10 July), which will simplify imports from developing countries — helping to lower prices on everyday goods while supporting jobs and growth in some of the world’s poorest nations.

    The measures will give UK consumers greater access to competitively priced imports — from clothes to food and electronics — as upgrades to the Developing Countries Trading Scheme (DCTS) make it easier for businesses to trade with the UK, helping to lower prices on the high street.

    Upgrades include simplified rules of origin, enabling more goods from countries like Nigeria, Sri Lanka, and the Philippines to enter the UK tariff-free — even when using components from across Asia and Africa. They also ensure countries such as Bangladesh and Cambodia continue to benefit with zero tariffs on products like garments and electronics.

    This will open up new commercial opportunities for UK businesses to build resilient supply chains, invest in emerging markets, and tap into fast-growing economies.

    Ministers briefed British business leaders and Ambassadors from around the world on the changes at a joint Department for Business and Trade (DBT) and Foreign, Commonwealth & Development Office (FCDO) reception in London today.

    Minister for International Development Jenny Chapman, said: 

    The world is changing. Countries in the Global South want a different relationship with the UK as a trading partner and investor, not as a donor.

    These new rules will make it easier for developing countries to trade more closely with the UK. This is good for their economies and for UK consumers and businesses.

    Minister for Trade Policy Douglas Alexander, said: 

    No country has ever lifted itself out of poverty without trading with its neighbours.

    Over recent decades trade has been an essential ingredient in lifting hundreds of millions of people out of poverty around the globe.

    The DCTS allows some of the world’s poorest countries to export to the UK duty and quota-free, with over £16 billion in UK imports benefiting from tariff savings since its launch in June 2023.

    In addition to the DCTS changes, the UK will:

    • offer targeted support to help exporters in developing countries access the UK market and meet import standards; and
    • make it easier for partner countries to trade services — such as digital, legal, and financial services — by strengthening future trade agreements. This will create new opportunities for UK businesses to collaborate and invest in fast-growing sectors. 

    The reforms will support trade with emerging markets in Asia and Africa, strengthening the UK’s global partnerships, with major retailers such as M&S and Primark expected to benefit.  

    Director of Sourcing, Marks & Spencer PLC, Monique Leeuwenburgh said:

    We are supportive of changes to the DCTS rules of origin for garments.

    The ongoing collaboration between the government and retail industry has provided clarity and certainty for businesses in good time.

    This change will enable us to maintain our long-standing and trusted relationships with our key partners in Bangladesh, to deliver the same great quality Clothing & Home products at great value for our customers.

    Interim Chief Executive at Primark, Eoin Tonge said:

    We welcome the changes to the DCTS rules of origin for garments which remove the potential cliff edge when a country graduates from Least Developed Country status.

    This will help us to maintain our existing supply chain strategy in our key sourcing markets in Asia, such as Bangladesh and Cambodia.

    We welcome the opportunity to collaborate with the government on these changes and their responsiveness to the concerns of UK retailers in this very technical area of trade policy.

    Adam Mansell, CEO, The UK Fashion & Textiles Association said said:

    UKFT welcomes these additional changes to the Rules of Origin under the DCTS, which will bring real benefits to the fashion industry in the UK and in DCTS countries.

    The new rules demonstrate a genuine commitment from the government to modernise trade policy to support global economic growth.

    At a time of such uncertainty in international trade, these reforms are especially welcome.

    Yohan Lawrence, Secretary General of the Joint Apparel Association Forum (JAAF), Sri Lanka, said:

    We warmly welcome the UK’s Trade Strategy.

    The new rules allowing greater regional sourcing for garments while retaining duty-free access to the UK are a game-changer.

    With the UK as our second-largest apparel market, this will boost exports, support livelihoods, and help us compete more fairly with global competitors.

    The updated rules are part of the UK’s wider Trade for Development offer which aims to support economic growth in partner countries while helping UK businesses and consumers access high-quality, affordable goods. 

    And just last month, the UK’s Trade Strategy was published in further support of the Plan for Change to grow the economy, strengthen international ties, and deliver for households across the UK. 

    Notes to editors: 

    • Launched in 2023, following the UK’s exit from the EU, the Developing Countries Trading Scheme (DCTS) is the UK’s flagship trade preference scheme, covering 65 countries and offering reduced or zero tariffs on thousands of products. 
    • The UK is committed to growing services trade with developing countries, supporting digital trade and professional services. 
    • The announcement follows engagement with UK businesses and international partners, major importers and trade associations.

    Updates to this page

    Published 14 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Oxford has the third lowest high street vacancy rate – new data

    Source: City of Oxford

    Oxford city centre has the third lowest vacancy rate of the UK’s major high streets, new data has revealed. 

    The Centre for Cities report, Checking out: The varying performance of high streets across the country, compares the retail performance of UK’s 63 largest cities and towns. 

    It draws on millions of anonymised card transactions and new estimates of local retail vacancy rates. 

    The report found that Oxford city centre had an estimated high street vacancy rate of 9% – just behind Cambridge (8.5%) and London (7.4%). 

    By comparison, the worst performing cities and towns were Newport (19%), Bradford (18%) and Blackpool (17.6%). 

    The Centre for Cities report was released last week. 

    Oxford city centre 

    Oxford had the third best-performing high street while still having a relatively high number of shops for the population. 

    Oxford has 1.7 shops per 1,000 people in the catchment area – more than Cambridge (1.6) and more than double London (0.8).  

    The number of shops in Oxford is the same as Bradford, where the vacancy rate is 18%. 

    Oxford also stood out in the data as having a relatively small catchment area – compared to London or Liverpool – while still having a low vacancy rate.  

    Centre for Cities said this was likely to be the result of the size of Oxford’s visitor economy. 

    Centre for Cities report 

    The report found that the three key reasons for high vacancy rates were: 

    • Low local spending power
    • Too much retail space
    • Retail spending leakage to bigger cities 

    It said that successful city centres had “risen to the challenge of out-of-town shopping and online retail by pivoting from retail towards food”. 

    Centre for Cities made a series of recommendations, including that the Government allocates more funding to remake city centres with more office space, improved public realm and fewer shops, and that cities increase the size of the catchment by building more homes in inner-city locations. 

    For more information, visit the Centre for Cities website. 

    Oxford City Council 

    Oxford City Council has taken a proactive approach to city centre management, guided by the City Centre Action Plan adopted in 2022. The plan focuses on strengthening the city centre’s resilience by diversifying how spaces are used and supporting a vibrant, sustainable mix of retail, social, and cultural activity.  

    This includes pedestrian-friendly improvements to Market Street and St Michael’s Street, and nearly £8 million of investment to future-proof the Covered Market and support independent businesses.  

    To reinvigorate the look of vacant units, the Council has also worked with landlords, agents and community groups to activate shopfronts. This not only keeps the streets looking good, but it also helps to promote the work of local organisations. 

    Reaction 

    “Oxford is fortunate to have a strong local economy and a beautiful city centre that people from all over the world want to visit. 

    “But Oxford City Council also made deliberate choices that have helped boost the city centre. We chose to put Oxford’s largest shopping centre in Oxford city centre, rather than on the edge of the city, and our housing company, OX Place, is building new homes at high density to help increase the number of people who live in the city centre, as well as encouraging the building of hotels to encourage visitors to our city to stay overnight and spend more money in our local economy. We have also worked hard as a landlord and with other landlords to support independent businesses, such as through our wonderful Covered Market. 

    “We continue to see investment in our City Centre, from the rebuilding of the Clarendon Centre to the redevelopment by All Souls College of the shops at the top of the High Street by the Covered Market entrances. The City Centre constantly changes to reflect national trends away from retail and toward hospitality and experience, but we are also keen to preserve traditional retail and independents alongside. 

    “We cannot rest on our laurels, but I am really pleased to see Oxford recognised as one of the best performing city centres in the UK.” 

    Councillor Susan Brown, Leader of Oxford City Council 

    MIL OSI United Kingdom –

  • MIL-OSI: Sydbank A/S share buyback programme: transactions in week 28

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement No 31/2025

    		 Peberlyk 4
    6200 Aabenraa
    Denmark

    Tel +45 74 37 37 37
    Fax +45 74 37 35 36

    Sydbank A/S
    CVR No DK 12626509, Aabenraa
    sydbank.dk
    14 July 2025  

    Dear Sirs

    Sydbank A/S share buyback programme: transactions in week 28
    On 26 February 2025 Sydbank A/S announced a share buyback programme of DKK 1,350m. The share buyback programme commenced on 3 March 2025 and will be completed by 31 January 2026.

    The purpose of the share buyback programme is to reduce the share capital of Sydbank A/S and the programme is executed in compliance with the provisions of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, collectively referred to as the Safe Harbour rules.

    The following transactions have been made under the share buyback programme:

      Number of shares VWAP Gross value (DKK)
    Accumulated, most recent
    Announcement

    1,188,000

    		  

    505,716,560.00
    07 July 2025
    08 July 2025
    09 July 2025
    10 July 2025
    11 July 2025    		 10,000
    10,000
    10,000
    10,000
    10,000    		 474.80
    481.32
    489.39
    485.33
    482.33    		 4,748,000.00
    4,813,200.00
    4,893,900.00
    4,853,300.00
    4,823,300.00
    Total over week 28 50,000   24,131,700.00
    Total accumulated during the
    share buyback programme

    1,238,000

    		  

    529,848,260.00

    All transactions were made under ISIN DK 0010311471 and effected by Danske Bank A/S on behalf of Sydbank A/S.

    Further information about the transactions, cf Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse and Commission delegated regulation, is available in the attachment.

    Following the above transactions, Sydbank A/S holds a total of 1,238,285 own shares, equal to 2.41% of the Bank’s share capital.

    Yours sincerely
            
    Mark Luscombe        Jørn Adam Møller
    CEO        Deputy Group Chief Executive

    Attachment

    The MIL Network –

  • MIL-OSI: Sydbank A/S share buyback programme: transactions in week 28

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement No 31/2025

    		 Peberlyk 4
    6200 Aabenraa
    Denmark

    Tel +45 74 37 37 37
    Fax +45 74 37 35 36

    Sydbank A/S
    CVR No DK 12626509, Aabenraa
    sydbank.dk
    14 July 2025  

    Dear Sirs

    Sydbank A/S share buyback programme: transactions in week 28
    On 26 February 2025 Sydbank A/S announced a share buyback programme of DKK 1,350m. The share buyback programme commenced on 3 March 2025 and will be completed by 31 January 2026.

    The purpose of the share buyback programme is to reduce the share capital of Sydbank A/S and the programme is executed in compliance with the provisions of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, collectively referred to as the Safe Harbour rules.

    The following transactions have been made under the share buyback programme:

      Number of shares VWAP Gross value (DKK)
    Accumulated, most recent
    Announcement

    1,188,000

    		  

    505,716,560.00
    07 July 2025
    08 July 2025
    09 July 2025
    10 July 2025
    11 July 2025    		 10,000
    10,000
    10,000
    10,000
    10,000    		 474.80
    481.32
    489.39
    485.33
    482.33    		 4,748,000.00
    4,813,200.00
    4,893,900.00
    4,853,300.00
    4,823,300.00
    Total over week 28 50,000   24,131,700.00
    Total accumulated during the
    share buyback programme

    1,238,000

    		  

    529,848,260.00

    All transactions were made under ISIN DK 0010311471 and effected by Danske Bank A/S on behalf of Sydbank A/S.

    Further information about the transactions, cf Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse and Commission delegated regulation, is available in the attachment.

    Following the above transactions, Sydbank A/S holds a total of 1,238,285 own shares, equal to 2.41% of the Bank’s share capital.

    Yours sincerely
            
    Mark Luscombe        Jørn Adam Møller
    CEO        Deputy Group Chief Executive

    Attachment

    The MIL Network –

  • MIL-OSI Video: UK The monarch’s seat in Parliament

    Source: United Kingdom UK House of Lords (video statements)

    The Sovereign’s throne in the House of Lords chamber is hard to miss. Designed after the Coronation Chair at Westminster Abbey @westminsterabbeylondon, it is used by the monarch during the State Opening of Parliament. Discover more about the history and significance of the throne with Parliament’s Curator of the Historic Furniture and Decorative Arts Collection, Eloise.

    Catch-up on House of Lords business:

    Watch live events: https://parliamentlive.tv/Lords
    Read the latest news: https://www.parliament.uk/lords/

    Stay up to date with the House of Lords on social media:

    • X: https://twitter.com/UKHouseofLords
    • Bluesky: https://bsky.app/profile/houseoflords.parliament.uk
    • Instagram: https://www.instagram.com/UKHouseofLords/
    • Facebook: https://www.facebook.com/UKHouseofLords
    • Flickr: https://flickr.com/photos/ukhouseoflords/albums
    • LinkedIn: https://www.linkedin.com/company/the-house-of-lords
    • Threads: https://www.threads.net/@UKHouseOfLords

    #HouseOfLords #UKParliament

    https://www.youtube.com/shorts/wDYSANluyVw

    MIL OSI Video –

  • MIL-OSI United Kingdom: Future of the Post Office to be shaped by postmasters and customers

    Source: United Kingdom – Executive Government & Departments

    Press release

    Future of the Post Office to be shaped by postmasters and customers

    Government launches the Post Office Green Paper, the first comprehensive review of the Post Office in 15 years.

    • First comprehensive review of the Post Office in 15 years, with customers and postmasters shaping its future.
    • Post Office Green Paper will seek to transform the organisation’s culture in the wake of the Horizon scandal and changing customer demands.
    • Better services at the heart of new £118 million subsidy to fund the Post Office’s Transformation Plan and further network investment, moving the organisation closer to delivering growth in line with the Plan for Change.

    Postmasters and the public will have the opportunity to shape the future of the Post Office for the first time in 15 years, as the Government sets out its vision for the next decade for the organisation.

    The Post Office Green Paper, published today, will move further and faster to deliver a decade of renewal for customers and postmasters, building on the cultural reset being led by Post Office Chair Nigel Railton that will be so crucial to its success.

    Working hand in hand with postmasters and the public the Government will ensure the network is put on a path to a strong and sustainable future with Post Office branches remaining at the heart of communities across the UK.

    This includes on the Post Office’s ownership model, with concepts including mutualisation on the table for consideration following the publication of the final Horizon Inquiry report later this year.

    The report is expected to provide recommendations on improving the structure of the Post Office so that this miscarriage of justice is never allowed to occur again, protecting postmasters whilst also providing reassurance for customers.

    This follows an unprecedented period in which the Post Office has faced a series of major challenges, from the Horizon IT scandal to significant changes in consumer behaviour, such as a rise in online shopping and falling demand for traditional post.

    Post Office Minister Gareth Thomas said:

    Post Offices continue to be a central part of our high streets and communities across the country. However, after fifteen years without a proper review, and in the aftermath of the Horizon scandal, it’s clear we need a fresh vision for its future.

    This Green Paper marks the start of an honest conversation about what people want and need from their Post Office in the years ahead.

    I look forward to hearing the views of customers, business owners and postmasters so we can build a Post Office capable of serving the public for generations to come.

    The consultation will run for 12 weeks, closing on 6th October 2025. It will examine key areas including:

    • How Post Office services should evolve to meet changing consumer needs
    • Ways to strengthen the relationship between the Post Office and its postmasters
    • Options for modernising the network while ensuring services remain within local reach
    • Ensure the Post Office is well-equipped to adapt to consumer trends
    • How the Post Office can improve and develop the banking services it provides

    Research published alongside the Green Paper today also highlights the important role the Post Office still plays in the daily lives of people and businesses, adding social value of around £5.2 billion per year to households and £1.3 billion annually to small and medium sized businesses.

    As part of the Government’s commitment to securing the future of this vital national institution, Ministers have also announced plans to award a new subsidy package of up to £118 million to fund the Post Office’s Transformation Plan and further investment to improve the network.

    This funding will protect key services, including access to cash deposits and withdrawals as well as key government services, such as passport applications and the DVLA, alongside helping the Post Office deliver cost-saving measures in its Transformation Plan, part of the New Deal for Postmasters.

    Notes to editors:

    • The Green Paper and details on how to respond to the consultation can be found here.
    • The £118 million in funding is subject to the completion of subsidy control processes and compliance with the Subsidy Control Act 2022.
    • The Post Office operates over 11,500 branches across the UK.
    • Last month, the Government achieved the milestone of £1 billion in compensation payments to over 7,300 postmasters affected by the Horizon IT scandal.
    • Research published alongside the Green Paper can be found under Annex A: The Value of the Post Office Network

    Updates to this page

    Published 14 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Wheely good fun – Stomp for Stamps returns to get families moving

    Source: City of Portsmouth

    Children across Portsmouth are being invited to step into summer with Stomp for Stamps – a free, fun-filled treasure hunt that encourages families to explore the city’s green spaces while walking, wheeling, cycling or scooting.

    Backed by Portsmouth City Council’s Pompey Monsters initiative, Stomp for Stamps is designed to inspire healthier, more active lifestyles and promote cleaner air across the city. The challenge is open to all primary-aged children and their families, offering an inclusive and engaging way to enjoy the outdoors.

    To take part, families can collect a free map book and pencil pack from any Portsmouth library. Each of the five routes features a friendly Pompey Monster and a hidden plaque with an animal or insect design. Children can take colourful rubbings of the plaques and collect a sticker from the library for each one they complete.

    The Stomp for Stamps challenge runs during school summer holidays from Wednesday 23 July to Monday 1 September 2025. Children who complete at least three routes will earn a special prize – a reusable Pompey Monsters metal water bottle, which will be handed out by schools when the new term begins.

    Additionally, and new for 2025, children can also take part in the ‘decoder challenge’, where they can hunt for symbols along each route to reveal a hidden phrase. Those who crack the code will be entered into a prize draw to win a brand-new telescope.

    Cllr Peter Candlish, Cabinet Member for Transport at Portsmouth City Council, said:
    “I’m pleased to see Stomp for Stamps return for 2025 – this is a brilliant and low-cost way to keep children active and entertained over the summer holidays, exploring the city’s green spaces together, learning new skills, and making memories – all while helping to create cleaner air for Portsmouth. With exciting new prizes and accessible routes, this year’s challenge promises to be the best yet.”

    Most routes are designed to be wheelchair and pushchair-friendly, ensuring that everyone can join in the fun. Along the way, children will build confidence in map-reading, enjoy creative activities, and discover new parts of the city while travelling in healthy, sustainable ways.

    To get started, families can visit their local library to collect a free map and pencil pack.

    For more information, visit: www.travel.portsmouth.gov.uk/stompforstamps

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Work set to start on Bilston Market redevelopment

    Source: City of Wolverhampton

    City of Wolverhampton Council is investing more than £5 million in major improvements to the market that will deliver “the absolute best market in the West Midlands” with more modern, more accessible, and more vibrant spaces for traders and the local community.

    Works are set to officially begin on Wednesday 23 July and will feature better access for pedestrians from the bus and Metro station, a new canopy, new toilets, stall improvements and improved public spaces. It is set to be completed by June 2026.

    Leader of the Council, Councillor Stephen Simkins, said that despite the discovery of difficult ground conditions at the market site, the council was “100% committed” to delivering the full scheme as agreed with traders.

    He said: “Delivering a first class, improved and modern market – the absolute best market in the West Midlands – with better access is an absolute priority for us – and I’m pleased to see work begin so we can deliver for our traders and the people of Bilston.

    “Unfortunately, surveys revealed far more challenging ground conditions at the site than we had anticipated, so we have had to re-engineer parts of the project. This has driven up the cost of the scheme – but I can assure traders we will not compromise on our ambition and will deliver the full scheme exactly as agreed with them.”

    Council bosses have identified additional contingency funds of up to £2.5 million to address the re-engineered scheme and other factors.

    The Council also said it will freeze rent costs of the indoor and outdoor market traders and is investing £15,000 in activities and events in and around the indoor market to help drive footfall.

    Councillor Simkins added: “We promised traders they’d be the first to know once we got the timeline of the works, and I met with them face to face first this morning to talk through the plans and let them know how we’re supporting them while the works take place.”

    MIL OSI United Kingdom –

  • MIL-OSI USA: Family Ties: Siblings strengthen readiness, relationships during African Lion 2025

    Source: United States Army

    Back to

    U.S. Army Southern European Task Force, Africa (SETAF-AF)

    DODJI, Senegal — For many service members, participating in an international military exercise can feel like joining a larger, multinational family. For U.S. Army Maj. Carolyn Vandeventer and her younger brother, U.S. Army Master Sgt. Stuart Vandevick, that sentiment is literal.

    The siblings were both deployed to Senegal in support of African Lion 2025 (AL25), U.S. Africa Command’s largest annual combined joint exercise. Vandeventer, a logistics officer assigned to the 79th Theater Sustainment Command (Forward), U.S. Army Reserve, based in Vicenza, Italy, and Vandevick, a key member of the exercise’s mayor cell assigned to the 561st Regional Support Group in Elkhorn, Nebraska, are sharing a rare opportunity to serve together while supporting multinational training at Centre d’Entraînement Tactique 2 (CET2) in Dodji.

    This year’s iteration of AL25 emphasizes readiness, interoperability and relationship-building to enhance warfighting capabilities among partner nations. In that spirit, the Vandeventer siblings reinforce a core principle of the exercise: strong teams are built on trust, collaboration—and sometimes, family.

    “It started off as a joke over Thanksgiving,” said Vandeventer. “I told Stuart, ‘Hey, your new unit falls under mine now. Want to come to Senegal?’ But the more I thought about it, the more it made sense.”

    What started as a joke soon turned into reality.

    “We’ve both been in the Army for over 19 years,” said Vandeventer. “But we’ve never actually worked the same mission—until now.”

    Vandevick quickly accepted the offer.

    Tasked with overseeing base operations and sustainment efforts as part of the mayor cell, his responsibilities complemented his sister’s strategic role in managing logistics at the operational level. Together, their coordination added a personal dimension to an already complex multinational effort.

    “Having Carolyn here makes the mission more personal,” said Vandevick. “It underscores how building trust and close relationships—whether with a sibling or a multinational partner—is essential to overcoming challenges and getting the job done.”

    Their shared experience also illustrates the broader objective of African Lion: strengthening ties and improving readiness across allied and partner forces.

    “African Lion thrives on personal connections that reinforce military cooperation,” said U.S. Army Col. Matthias E. Greene, the senior U.S. officer for AL25 in Senegal. “Having siblings serve side by side underscores our emphasis on building genuine partnerships at every level.”

    In Senegal, AL25 featured field training exercises, live-fire ranges and medical readiness operations conducted by troops from Côte d’Ivoire, Mauritania, the Netherlands, Senegal and the U.S.

    Across the wider theater, more than 10,000 participants from over 50 nations took part in coordinated activities across Ghana, Morocco, Senegal and Tunisia.

    Vandeventer said having her brother nearby was both operationally useful and personally meaningful.

    “Because we’ve both been in the Army a long time, working together here has felt natural,” she said. “He understands how the mayor cell functions from his background in a regional support group, and that’s helped me tremendously. We’re in sync in a way only siblings can be—sometimes it feels like we can read each other’s minds.”

    Beyond the mission, she says, the deployment offered something even rarer: time together.

    “Other than Thanksgiving, I hadn’t seen him in years,” she said. “Serving overseas, I don’t get many chances like this. Getting to video call our parents from the same place—from a continent away—was something special.”

    Their bond hasn’t gone unnoticed.

    “People in the dining facility or the tactical operation center (TOC) will see us interact and ask someone nearby, ‘Wait, are they related?’” Vandevent said, laughing. “The looks on their faces are priceless. I’ll give Stuart a big bear hug—definitely not standard between a field grade officer and an NCO—and we’ll both say, ‘Yes way.’”

    African Lion 25 reinforces U.S. and partner nations’ readiness and collective resolve to ensure peace through strength.

    About African Lion

    AL25, the largest annual military exercise in Africa, brings together over 50 nations, including seven NATO allies and 10,000 troops to conduct realistic, dynamic and collaborative training in an austere environment that intersects multiple geographic and functional combatant commands. Led by U.S. Army Southern European Task Force, Africa (SETAF-AF) on behalf of the U.S. Africa Command, AL25 takes place from April 14 to May 23, 2025, across Ghana, Morocco, Senegal, and Tunisia. This large-scale exercise will enhance our ability to work together in complex, multi-domain operations—preparing forces to deploy, fight and win.

    About SETAF-AF

    U.S. Army Southern European Task Force, Africa (SETAF-AF) prepares Army forces, executes crisis response, enables strategic competition and strengthens partners to achieve U.S. Army Europe and Africa and U.S. Africa Command campaign objectives.

    Follow SETAF-AF on: Facebook, X, Instagram, YouTube, LinkedIn & DVIDS.

    MIL OSI USA News –

  • MIL-OSI China: China edge USA to conclude women’s VNL

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

    China claimed another come-from-behind 3-2 victory over the United States on Sunday, closing the women’s Volleyball Nations League (VNL) preliminaries with four consecutive wins.

    Wu Mengjie led China with 27 points on 26 kills and an ace, while Zhuang Yushan and Gong Xiangyu contributed 18 and 14 points, respectively. The Chinese team rallied past the hosts 18-25, 19-25, 25-21, 25-16, 18-16 for their third five-set win in Arlington.

    Earlier in the week, China had also defeated the Dominican Republic and Germany in five sets, and Canada 3-1.

    “I am pleased with the resilience demonstrated by our players,” said China head coach Zhao Yong.

    Trailing 5-4 in the tiebreak, China went on a 5-1 run to level the score at 9-9. After Wang Yuanyuan delivered a key block to give China a 14-13 lead, the Americans fended off three match points before Wu’s smash and a final point from Zhuang sealed the win.

    China finished fifth among the 18 teams in the preliminary round, with nine wins, three losses, and 24 points. They will face Poland, the fourth-place finisher and host of the Finals, in the quarterfinals.

    The United States, led by Sarah Franklin’s 32 points, ended eighth with a 7-5 record. They will take on top-seeded Italy for a spot in the semifinals.

    Brazil, Japan, Turkey, and Germany also advanced to the Finals, which will be held in Lodz, Poland, from July 23 to 27.

    MIL OSI China News –

  • MIL-OSI: Himax and Rabboni Join Forces to Launch World’s First Scalable Multi-Scenario Endpoint AI Sensing System – bboni Ai Enabling Real-Time AI Inference on Wearable Devices

    Source: GlobeNewswire (MIL-OSI)

    TAINAN, Taiwan and HSINCHU, Taiwan, July 14, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, and Rabboni Co., Ltd. (“Rabboni”), a Taiwan-based company integrating next-generation semiconductor sensing and edge computing to enable smart living, smart sensing and wearable devices, today jointly announced the unveiling of bboni Ai, the world’s first multi-scenario endpoint AI sensing system. bboni Ai integrates Rabboni’s high-precision IMU (Inertial Measurement Unit) motion sensors with Himax’s ultralow power WiseEye2 AI processor, opening a new chapter for real-time endpoint AI inference for wearable devices and accelerating the transition of AI from concept to real-world implementation.

    WiseEye2 AI processor features a high-performance architecture built on Cortex-M55 cores and is equipped with the Ethos-U55 AI inference engine. It supports always-on sensing, dynamic voltage and frequency scaling (DVFS), and a multi-level power management structure. The design empowers dynamic adjustments in core voltage and frequency based on the scenarios of wearable devices, enabling data collection, event triggering, and endpoint AI inference at ultralow power consumption of just a few milliwatts. This architecture significantly reduces reliance on cloud transmission, effectively lowering latency and power consumption. It also enhances real-time responsiveness and data privacy, delivering a commercially viable endpoint AI solution for devices requiring long-hour operation. Notably, WiseEye™ AI can also collaborate with cloud-based large language models (LLMs), further enhancing the device’s ability to perceive, understand, and interact with complex real -world scenarios.

    bboni Ai Brings AI to the Endpoint: On-Device AI Processing. No Cloud Needed

    Featuring integrated motion sensing capability and ultralow power AI powered by Himax’s WiseEye2 AI processor, the bboni Ai system enables real-time motion analysis, posture recognition, and behavior interpretation directly on the endpoint device, eliminating the need for cloud computing. With low-latency, high-efficiency, and privacy-preserving on-device AI, bboni Ai delivers a truly scalable and deployable endpoint AI solution. bboni Ai not only enhances system stability but also meets the stringent requirements for data immediacy and security in applications such as healthcare and education.

    bboni Ai Transforms Everyday Life Across Diverse Wearable Applications: Demonstrates broad real-world readiness across multiple use cases

    • Smart Healthcare: Supports WHO’s ICOPE (Integrated Care for Older People) framework, facilitating seniors to monitor physical function and rehabilitation progress at home, reducing the cost of care
    • Sports Technology: Real-time detection of user movements and behavior, providing instant motion feedback, optimizing training postures through AI analysis, improving training efficiency and reducing the risk of injury
    • Education and Interaction: Enables hands-on STEM and AI education by leveraging motion sensing and behavior analysis to foster interdisciplinary learning and innovation, cultivating the next generation of talent

    Powered by Taiwan–Based Team with bboni Ai Developer Program to Launch in July 2025

    To accelerate the development of innovative AI applications, Himax will officially launch the bboni Ai Developer Program in late-July 2025. This initiative will provide a complete set of APIs and SDKs, inviting developers, academic institutions, and corporate partners jointly to create a robust and commercial-ready endpoint AI ecosystem, advancing Taiwan’s AI technology around the globe.

    “The bboni Ai system was entirely developed by a Taiwanese team, integrating key technologies such as semiconductor design, sensor technology, AI algorithms, and software-hardware integration, showcasing Taiwan’s technical strength in smart sensing and endpoint AI,” said Richard Chiang, Chairman of Rabboni.

    “WiseEye’s ultralow power and always-on sensing capabilities make it a perfect fit for power-constrained endpoint devices, especially wearable applications in smart care, interactive education, and health monitoring that require long-hour operation,” said Mark Chen, Vice President of Smart Sensing Business at Himax. “Himax is excited to collaborate with Rabboni to integrate our respective technological strengths and bring AI out of the conceptual stage and into everyday life, enabling truly meaningful smart applications.”

    About Rabboni Co., Ltd.

    Rabboni Co., Ltd., originating from Silicon Instruments Co., Ltd. founded in 2009, is dedicated to integrating next-generation semiconductor sensing and edge computing to build the foundation of smart living. The company empowers professionals across various service domains to achieve digital and AI transformation, thereby enhancing their value-added services. For years, Rabboni has supported National Yang Ming Chiao Tung University (NYCU) in university social responsibility (USR) programs and MIT-collaborated science outreach projects, as well as medical research initiatives. Through these efforts, Rabboni has developed interdisciplinary platform technologies and established a comprehensive industry chain for smart sensing and wearable technologies.

    Rabboni also introduced the TEA Innovation Service Platform, inspired by the concept: “Technology x Experts x Aids = Brew better futures.” In collaboration with Himax’s engineering team, Rabboni successfully completed the development of the bboni Ai platform. An Endpoint AI Startup Competition will soon be co-hosted by Himax, Rabboni, and NYCU, featuring the world’s tiniest and ultralow power bboni Ai system.

    About Himax Technologies, Inc.

    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEyeTM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,609 patents granted and 370 patents pending approval worldwide as of June 30, 2025.

    http://www.himax.com.tw

    Forward Looking Statements

    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.

    Company Contacts:

    Karen Tiao, Head of IR/PR
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us
    www.mzgroup.us

    The MIL Network –

  • MIL-OSI Banking: France: Financial System Stability Assessment

    Source: International Monetary Fund

    Preview Citation

    Format: Chicago

    International Monetary Fund. Monetary and Capital Markets Department “France: Financial System Stability Assessment”, IMF Staff Country Reports 2025, 180 (2025), accessed July 14, 2025, https://doi.org/10.5089/9798229017428.002

    Export Citation

    • ProCite
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    • Reference Manager

    • BibTex
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    Summary

    The French financial system has proven resilient to the shocks of the last five years but faces headwinds from domestic and external policy uncertainty and high fiscal consolidation needs. Bank-insurance conglomerates that include four Global Systemically Important Banks dominate the financial landscape, and financial markets have become increasingly complex in the post-Brexit environment. Banks’ capital and liquidity buffers remain high, but with low profitability versus peers.

    Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Commercial banks, Credit, Crime, Financial institutions, Financial regulation and supervision, Financial sector policy and analysis, Financial sector stability, Loans, Macroprudential policy, Money, Mutual funds, Stress testing

    Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Commercial banks, Credit, Financial sector stability, Liquidity requirements, Loans, Macroprudential policy, Mutual funds, Stress testing

    Publication Details

    MIL OSI Global Banks –

  • MIL-OSI: Nokia network APIs now available on Google Cloud Marketplace, making it even easier for developers to utilize

    Source: GlobeNewswire (MIL-OSI)

    Nokia network APIs now available on Google Cloud Marketplace, making it even easier for developers to utilize

    • The Nokia network APIs available on Google Cloud Marketplace are Quality of Service on Demand, Number Verification, and Device Location Verification.

    14 July 2025 
    Espoo, Finland – Nokia today announced that three of its network APIs – Quality of Service on Demand, Number Verification, and Device Location Verification – are now available on Google Cloud Marketplace, making it even easier for thousands of developers around the world to access the APIs to write applications that developer customers can use.

    Google Cloud Marketplace offers a universal catalog of solutions from Google Cloud and its partner ecosystem for customers to discover and use.

    Developers can use the Nokia APIs exposed via Google Cloud Marketplace to tap into multiple mobile networks and create new applications, in conjunction with the capabilities provided by Nokia’s Network as Code platform with developer portal, which gives developers standardized access to network functions without having to navigate any of the underlying network technologies. Additional Nokia APIs are expected to be available on Google Cloud Marketplace in the future.

    “The availability of Nokia APIs on Google Cloud Marketplace is about giving developers easy access and simplified use of trusted network intelligence. This is just the latest step in Nokia’s efforts to connect programmable network assets to leading developer ecosystems,” said Shkumbin Hamiti, Vice President and Head of Network Monetization Platform, Cloud and Network Services, Nokia.

    Nokia APIs are patterned after GSMA Open Gateway and CAMARA open standards, allowing developers to run applications that work globally, enabled by Nokia’s growing CSP partnership network.

    Through automation, the Quality of Service on demand API can effectively ask a network for guaranteed and reliable connectivity for a specified amount of time, such as for a live stream at a large event with thousands of people.

    Nokia’s Number Verification API can verify whether a phone number belongs to the person using it, allowing industries such as financial services and retail to mitigate fraud and enhance user verification.

    Similarly, Device Location Verification can authenticate a commercial transaction request to a device owner, based on the owner’s phone location and the location from which the request is coming.

    “This collaboration with Nokia empowers developers and enterprises by delivering advanced telecom network capabilities directly through Google Cloud Marketplace. Making network APIs like Number Verification and Device Location Verification easily accessible unlocks new possibilities for secure, intelligent digital experiences, underscoring the value created when telco and cloud innovation converge,” said Muninder Singh Sambi, VP and GM, Networking and Security, Google Cloud.

    About Nokia 

    At Nokia, we create technology that helps the world act together. 

     As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.  

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable, and sustainable networks today – and work with us to create the digital services and applications of the future. 

    Media inquiries 
    Nokia Press Office 
    Email: Press.Services@nokia.com 

    Follow us on social media 
    LinkedIn X Instagram Facebook YouTube  

    The MIL Network –

  • MIL-Evening Report: UNESCO grants World Heritage status to Khmer Rouge atrocity sites – paving the way for other sites of conflict

    Source: The Conversation (Au and NZ) – By Rachel Hughes, Associate Professor of Geography, The University of Melbourne

    A series of atrocity sites of the Khmer Rouge regime in Cambodia have been formally entered onto the World Heritage list, as part of the 47th session of the World Heritage Committee.

    This is not only important for Cambodia, but also raises important questions for atrocity sites in Australia.

    Before this, the World Heritage list only recognised seven “sites of memory” associated with recent conflicts, which UNESCO defines as “events having occurred from the turn of the 20th century” under its criterion vi. These sat within a broader list of more than 950 cultural sites.

    In recent years, experts have intensely debated the question of whether a site associated with recent conflict could, or should, be nominated and evaluated for World Heritage status. Some argue such listings would contradict the objectives of UNESCO and its spirit of peace, which was part of the specialised agency’s mandate after the destruction of two world wars.

    Sites associated with recent conflicts can be divisive. For instance, when Japan nominated the Hiroshima Peace Memorial, both China and the United States objected and eventually disassociated from the decision. The US argued the nomination lacked “historical perspective” on the events that led to the bomb’s use. Meanwhile, China argued listing the property would not be conducive for peace as other Asian countries and peoples had suffered at the hands of the Japanese during WWII.

    Heritage inscriptions risk reinforcing societal divisions if they conserve a particular memory in a one-sided way.

    Nonetheless, the World Heritage Committee decided in 2023 to no longer preclude such sites for inscription. This was done partly in recognition of how these sites may “serve the peace-building mission of UNESCO”.

    Shortly after, three listing were added: the ESMA Museum and Site of Memory, a former clandestine centre for detention, torture and extermination in Argentina; memorial sites of the Rwandan genocide at Nyamata, Murambi, Gisozi and Bisesero; and funerary and memory sites of the first world war in Belgium and France.

    A number of legacy sites associated with Nelson Mandela’s human rights struggle in South Africa were also added last year.

    Atrocities of the Khmer Rouge

    The recently inscribed Cambodian Memorial Sites include prisons S-21 (now known as Tuol Sleng Genocide Museum) and M-13, as well as the execution site Choeung Ek.

    These sites were nominated for their value in showing the development of extreme mass violence in relation to the security system of the Khmer Rouge in 1975–79. They also have value as places of memorialisation, peace and learning.

    The Khmer Rouge developed its methods of disappearance, incarceration and torture of suspected “enemies” during the civil conflict of 1970–75. It established a system of local-level security centres in so-called “liberated” areas.

    One of these centres was known as M-13, a small, well-hidden prison in the country’s rural southwest. A man named Kaing Guek Eav – also called Duch – was responsible for prisoners at M-13.

    Shortly after the entire country fell to the Khmer Rouge in April 1975, Duch was assigned to lead the headquarters of the regime’s security system: a large detention and torture centre known as S-21.

    Under his instruction, tens of thousands of people were detained in inhumane conditions, tortured and interrogated. Many detainees were later taken to the outskirts of the city to be brutally killed and buried in pits at a place called Choeung Ek.

    The sites operated until early 1979, when the Khmer Rouge was forced from power.

    The S-21 facility and the mass graves at Choeung Ek have long been memorialised as the Tuol Sleng Genocide Museum and the Choeung Ek Genocidal Centre.

    However, the former M-13 site shows few visual clues to its prior use, and has only recently been investigated by an international team led by Cambodian archaeologist and museum director Hang Nisay. The site is on an island in a small river that forms the boundary between the Kampong Chhnang and Kampong Speu provinces.

    Further research, site protection and memorialisation activities will now be supported, with help from locals.

    From repression to reflection

    The Cambodian memorial sites have been recognised as holding “outstanding universal value” for the way they evidence one of the 20th century’s worst atrocities, and are now places of memory.

    In its nomination dossier for these sites, Cambodia drew on findings from the Khmer Rouge Tribunal to verify and link the conflict and the sites.

    In 2010, the tribunal found Duch guilty of crimes against humanity and grave breaches of the Geneva Conventions. Duch was sentenced to 30 years in prison (which eventually turned into life imprisonment). He died in 2020.

    While courts such as the International Criminal Court have previously examined the destruction of heritage as an international crime, drawing on legal findings to assert heritage status is an unusual inverse. It raises important questions about the legacies of former UN-supported tribunals and the ongoing implications of their findings.

    The recent listings also raise questions for Australia, which has many sites of documented mass killing associated with colonisation and the frontier wars that lasted into the 20th century.

    Might Australia nominate any of these atrocity sites in the future? And could other processes such as truth-telling, reparation and redress support (or be supported by) such nominations?

    The Conversation

    Rachel Hughes has consulted to UNESCO Cambodia.

    Maria Elander 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. UNESCO grants World Heritage status to Khmer Rouge atrocity sites – paving the way for other sites of conflict – https://theconversation.com/unesco-grants-world-heritage-status-to-khmer-rouge-atrocity-sites-paving-the-way-for-other-sites-of-conflict-260923

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Ellomay Capital Ltd. Announces a Proposed Private Placement of Ordinary Shares to Israeli Institutional and Classified Investors for Approximately NIS 50 Million

    Source: GlobeNewswire (MIL-OSI)

    Tel-Aviv, Israel, July 14, 2025 (GLOBE NEWSWIRE) — Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (“Ellomay” or the “Company”), a renewable energy and power generator and developer of renewable energy and power projects in Europe, USA and Israel, today announced that it received and accepted, following the approval of its Board of Directors, commitments from several Israeli institutional and classified investors to buy 926,000 ordinary shares of the Company in a private placement (the “Private Placement”). As a result of the Private Placement, an affiliate of Menora Mivtachim Holdings Ltd. (one of Israel’s largest institutional investors), which holds securities for the benefit of members of provident funds or pension funds, is expected to become an interested party in the Company, holding approximately 6% of the Company’s outstanding shares.

    The price per share in the Private Placement was set at NIS 54 (approximately $16.3) and the gross proceeds to the Company are expected to be approximately NIS 50 million. The price per share was determined on July 9, 2025. The closing price per share on July 8, 2025 and July 9, 2025 on the Tel Aviv Stock Exchange was NIS 56.88 and NIS 58.53, respectively. The Company intends to use the net proceeds from this offering for general corporate purposes.

    The closing of the Private Placement is subject to the receipt of regulatory approvals, which are expected to be obtained during July 2025.

    The Private Placement described in this report, if made, will be made in Israel only and not to U.S. persons. The ordinary shares, if sold, will not be registered under the U.S. Securities Act of 1933, as amended, and will not be offered or sold in the United States without registration or applicable exemption from the registration requirements according to the U.S. Securities Act of 1933. Nothing in this press release constitutes a public offering or an invitation to purchase the Company’s securities.

    About Ellomay Capital Ltd.

    Ellomay is an Israeli based company whose shares are registered with the NYSE American and with the Tel Aviv Stock Exchange under the trading symbol “ELLO”. Since 2009, Ellomay focuses its business in the renewable energy and power sectors in Europe, USA and Israel.

    To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy, Spain, the Netherlands and Texas, USA, including:

    • Approximately 335.9 MW of operating solar power plants in Spain (including a 300 MW solar plant in owned by Talasol, which is 51% owned by the Company) and 51% of approximately 38 MW of operating solar power plants in Italy;
    • 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel’s largest private power plants with production capacity of approximately 850MW, representing about 6%-8% of Israel’s total current electricity consumption;
    • Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively;
    • 83.333% of Ellomay Pumped Storage (2014) Ltd., which is involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel;
    • 51% of solar projects in Italy with an aggregate capacity of 160 MW that commenced construction processes;
    • Solar projects in Italy with an aggregate capacity of 134 MW that have reached “ready to build” status; and
    • Solar projects in the Dallas Metropolitan area, Texas, USA with an aggregate capacity of approximately 27 MW that are connected to the grid and additional 22 MW that are awaiting connection to the grid.

    For more information about Ellomay, visit http://www.ellomay.com.

    Information Relating to Forward-Looking Statements

    This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company’s management. All statements, other than statements of historical facts, included in this press release regarding the Company’s plans and objectives, expectations and assumptions of management are forward-looking statements. The use of certain words, including the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by the Company’s forward-looking statements, including inability to receive regulatory approvals, changes in electricity prices and demand, regulatory changes increases in interest rates and inflation, changes in the supply and prices of resources required for the operation of the Company’s facilities (such as waste and natural gas) and in the price of oil, the impact of the war and hostilities in Israel and Gaza and between Israel and Iran, the impact of the continued military conflict between Russia and Ukraine, technical and other disruptions in the operations or construction of the power plants owned by the Company, inability to obtain the financing required for the development and construction of projects, inability to advance the expansion of Dorad, increases in interest rates and inflation, changes in exchange rates, delays in development, construction, or commencement of operation of the projects under development, failure to obtain permits – whether within the set time frame or at all, climate change, and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. These and other risks and uncertainties associated with the Company’s business are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Kalia Rubenbach (Weintraub)
    CFO
    Tel: +972 (3) 797-1111
    Email: hilai@ellomay.com

    The MIL Network –

  • MIL-OSI: Karolinska Development’s portfolio company Modus Therapeutics completes enrollment in part 1 of its phase 2a study with sevuparin

    Source: GlobeNewswire (MIL-OSI)

    STOCKHOLM, SWEDEN July 14, 2025. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Modus Therapeutics has completed patient enrollment on schedule to part 1 of its ongoing clinical phase 2a study with sevuparin, which is being evaluated as a treatment for patients with chronic kidney disease with anemia.

    Modus Therapeutics, listed on Nasdaq First North Growth Market, has successfully completed the patient enrollment for the initial part of its clinical phase 2a study. This part aims to evaluate the safety and established dosing levels of sevuparin in both patients with chronic kidney disease (stage 3-5) and healthy volunteers. The study, conducted across two leading nephrology centers in Italy, will guide optimal dosing for the next part of the phase 2a study, a proof-of-concept study set to evaluate the therapeutic potential following repeated dosing.

    “Reaching this milestone on schedule positions Modus well for the next important step in validating the therapeutic potential of sevuparin. We’re pleased to continue supporting them as they advance into the proof-of-concept part, representing a critical value inflection point for the program,” says Viktor Drvota, CEO, Karolinska Development.

    Karolinska Development’s ownership in Modus Therapeutics amounts to 66 percent.

    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 patients’ 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.

    Attachment

    The MIL Network –

  • MIL-OSI: Karolinska Development’s portfolio company Modus Therapeutics completes enrollment in part 1 of its phase 2a study with sevuparin

    Source: GlobeNewswire (MIL-OSI)

    STOCKHOLM, SWEDEN July 14, 2025. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Modus Therapeutics has completed patient enrollment on schedule to part 1 of its ongoing clinical phase 2a study with sevuparin, which is being evaluated as a treatment for patients with chronic kidney disease with anemia.

    Modus Therapeutics, listed on Nasdaq First North Growth Market, has successfully completed the patient enrollment for the initial part of its clinical phase 2a study. This part aims to evaluate the safety and established dosing levels of sevuparin in both patients with chronic kidney disease (stage 3-5) and healthy volunteers. The study, conducted across two leading nephrology centers in Italy, will guide optimal dosing for the next part of the phase 2a study, a proof-of-concept study set to evaluate the therapeutic potential following repeated dosing.

    “Reaching this milestone on schedule positions Modus well for the next important step in validating the therapeutic potential of sevuparin. We’re pleased to continue supporting them as they advance into the proof-of-concept part, representing a critical value inflection point for the program,” says Viktor Drvota, CEO, Karolinska Development.

    Karolinska Development’s ownership in Modus Therapeutics amounts to 66 percent.

    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 patients’ 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.

    Attachment

    The MIL Network –

  • MIL-OSI: INVL Baltic Sea Growth Fund has completed the acquisition of the Pehart Group in Romania

    Source: GlobeNewswire (MIL-OSI)

    INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltics, has completed the investment in Pehart Group, a leading producer of household and industrial paper products in Romania. The consortium of International Finance Corporation (IFC), Banca Transilvania and ING Bank Romania provided an over EUR 150 million financing package with a significant sustainable linked component to fund the transaction and further development of Pehart Group. 

    The transaction with Abris Capital Partners, the independent private equity fund that previously held Pehart Group, was completed on 11th July.  

    Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund, said: “We are excited to back Pehart Group management team in bringing the company to the next level and we will support significant investments into expansion of Pehart’s manufacturing capacities and add-on acquisitions in the region strengthening Pehart Group’s market leadership and driving its next phase of growth.”  

    Gabriel Stanciu, CEO Pehart Group, commented: ”With the completion of the transaction with INVL Baltic Sea Growth Fund, we are honoured to join the leading private equity fund in the Baltics and benefit from its vision and expertise. We see this partnership as an opportunity to accelerate our development plans and strengthen Pehart Group’s position as a regional leader in the paper products industry. We will continue to invest in cutting edge technologies, diversify our product portfolio and expand our presence in international markets. We thank our previous partners, Abris Capital Partners, for their support in achieving our growth objectives in the past years. We look confidently to the future and are ready to capitalize on new opportunities together with INVL Baltic Sea Growth Fund.” 

    “The closing of this transaction is the culmination of a successful partnership with Pehart Group and its management team, whom we thank for the excellent collaboration over the past years. Together, we have succeeded in transforming Pehart into a strong regional player. We are proud of the progress of the company and the values built over this time and are confident that Pehart will continue to grow at an accelerated pace alongside its new partner. This transaction stands for Abris’ commitment to supporting high-potential businesses and ambitious management teams that can deliver sustainable performance in strategic sectors for the Central and Eastern European economy”, said Adrian Stănculescu, Partner and Head of Romania at Abris Capital Partners.  

    Equity for the deal was provided by the INVL Baltic Sea Growth Fund and some of its investors co-investing via INVL BSGF Co-Invest Fund II.  

    International Finance Corporation (IFC), a member of the World Bank Group, has led syndication of overt EUR 150 million financing package for Pehart Group.  

    “This investment underscores IFC’s commitment to fostering sustainable economic growth while addressing Romania’s energy challenges,” said Marcelo Castellanos, IFC`s Senior Country Manager for Southeastern Europe. “By supporting Pehart, we are advancing the country’s green transition, promoting job creation in underserved regions, and demonstrating the key role of private capital in achieving climate goals.” 

    “This partnership reflects our ongoing commitment to support our clients’ strategic plans and to provide smart financial solutions, tailored to their needs in a strategic sector. Thus, we are proud to support Pehart in their plan for sustainable growth and to consolidate their position as a leading player on the regional market”, said Cosmin Călin, Senior Executive Director of Large Corporate Clients, Structured Finance and Factoring Banca Transilvania.  

    “ING has a long partnership with Abris in Romania, including Pehart. We are proud to continue supporting a local business in growing further and pursuing regional ambitions, as we are a solid supporter for the expansion of the Romanian economy. We thank Abris and Pehart for the partnership built along these years and wish many successes to Invalda INVL Group and Pehart going forward” said Raluca Tintoiu, Head of Wholesale Banking and deputy CEO at ING Romania. 

    Deimantė Korsakaitė, Managing Partner at INVL Private Equity Fund II and INVL Baltic Sea Growth Fund, commented: “Finalizing the acquisition of Pehart Group marks a key milestone for the INVL Baltic Sea Growth Fund, completing a value-driven portfolio of ten companies across the Baltics, Poland and Romania, with one already successfully exited. With the launch of its successor INVL Private Equity Fund II earlier this year, which surpassed the target and reached EUR 305 million at first close, we are well-positioned to continue our investment strategy and supporting ambitious businesses across the Baltics, CEE region and the broader EU.” 

    With a 187-year tradition, Pehart Group is one of the largest paper manufacturers in Southeast Europe with a portfolio ranging from toilet paper, paper towels, napkins, and other hygiene paper products to jumbo rolls, used in the converting process into paper products for household and industrial use. In 2024, Pehart Group succeeded in strengthening its leading position on the market through production efficiency and strategic investments. The focus on diversifying the product portfolio led to new launches, such as the SOVIO brand, targeting the Away-from-Home sector, as well as expansion into international markets. In 2024, the Pehart Group generated revenues of EUR 165 million and employed more than 550 people across its companies. 

    Pehart Group is defined by continuous evolution, efficiency, respect for the planet’s resources and for the people who build its story every day. It continuously optimizes its products and services by creating a sustainable and equitable environment for a renewable future. Pufina, one of the most popular tissue paper brands in Romania, Alint, Altessa and SOVIO, the Away-from-Home products division, are part of the Pehart Group portfolio. 

    About the INVL Baltic Sea Growth Fund 

    With a fund size of EUR 165 million, the INVL Baltic Sea Growth Fund is the leading private equity fund in the Baltics. Its anchor investor is the European Investment Fund (EIF), which is a part of the European Investment Bank, and committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or the Junker Plan) while also allocating resources from the Baltic Innovation Fund (a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia,  to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics). The fund is managed by the leading asset management group in the Baltics Invalda INVL group, which companies manage or have under supervision over EUR 1.9 billion of assets. 

    Contact person for further information:
    Vytautas Plunksnis, Head of Private Equity at INVL Asset Management,
    Vytautas.Plunksnis@invl.com

    The MIL Network –

  • MIL-OSI: INVL Baltic Sea Growth Fund has completed the acquisition of the Pehart Group in Romania

    Source: GlobeNewswire (MIL-OSI)

    INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltics, has completed the investment in Pehart Group, a leading producer of household and industrial paper products in Romania. The consortium of International Finance Corporation (IFC), Banca Transilvania and ING Bank Romania provided an over EUR 150 million financing package with a significant sustainable linked component to fund the transaction and further development of Pehart Group. 

    The transaction with Abris Capital Partners, the independent private equity fund that previously held Pehart Group, was completed on 11th July.  

    Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund, said: “We are excited to back Pehart Group management team in bringing the company to the next level and we will support significant investments into expansion of Pehart’s manufacturing capacities and add-on acquisitions in the region strengthening Pehart Group’s market leadership and driving its next phase of growth.”  

    Gabriel Stanciu, CEO Pehart Group, commented: ”With the completion of the transaction with INVL Baltic Sea Growth Fund, we are honoured to join the leading private equity fund in the Baltics and benefit from its vision and expertise. We see this partnership as an opportunity to accelerate our development plans and strengthen Pehart Group’s position as a regional leader in the paper products industry. We will continue to invest in cutting edge technologies, diversify our product portfolio and expand our presence in international markets. We thank our previous partners, Abris Capital Partners, for their support in achieving our growth objectives in the past years. We look confidently to the future and are ready to capitalize on new opportunities together with INVL Baltic Sea Growth Fund.” 

    “The closing of this transaction is the culmination of a successful partnership with Pehart Group and its management team, whom we thank for the excellent collaboration over the past years. Together, we have succeeded in transforming Pehart into a strong regional player. We are proud of the progress of the company and the values built over this time and are confident that Pehart will continue to grow at an accelerated pace alongside its new partner. This transaction stands for Abris’ commitment to supporting high-potential businesses and ambitious management teams that can deliver sustainable performance in strategic sectors for the Central and Eastern European economy”, said Adrian Stănculescu, Partner and Head of Romania at Abris Capital Partners.  

    Equity for the deal was provided by the INVL Baltic Sea Growth Fund and some of its investors co-investing via INVL BSGF Co-Invest Fund II.  

    International Finance Corporation (IFC), a member of the World Bank Group, has led syndication of overt EUR 150 million financing package for Pehart Group.  

    “This investment underscores IFC’s commitment to fostering sustainable economic growth while addressing Romania’s energy challenges,” said Marcelo Castellanos, IFC`s Senior Country Manager for Southeastern Europe. “By supporting Pehart, we are advancing the country’s green transition, promoting job creation in underserved regions, and demonstrating the key role of private capital in achieving climate goals.” 

    “This partnership reflects our ongoing commitment to support our clients’ strategic plans and to provide smart financial solutions, tailored to their needs in a strategic sector. Thus, we are proud to support Pehart in their plan for sustainable growth and to consolidate their position as a leading player on the regional market”, said Cosmin Călin, Senior Executive Director of Large Corporate Clients, Structured Finance and Factoring Banca Transilvania.  

    “ING has a long partnership with Abris in Romania, including Pehart. We are proud to continue supporting a local business in growing further and pursuing regional ambitions, as we are a solid supporter for the expansion of the Romanian economy. We thank Abris and Pehart for the partnership built along these years and wish many successes to Invalda INVL Group and Pehart going forward” said Raluca Tintoiu, Head of Wholesale Banking and deputy CEO at ING Romania. 

    Deimantė Korsakaitė, Managing Partner at INVL Private Equity Fund II and INVL Baltic Sea Growth Fund, commented: “Finalizing the acquisition of Pehart Group marks a key milestone for the INVL Baltic Sea Growth Fund, completing a value-driven portfolio of ten companies across the Baltics, Poland and Romania, with one already successfully exited. With the launch of its successor INVL Private Equity Fund II earlier this year, which surpassed the target and reached EUR 305 million at first close, we are well-positioned to continue our investment strategy and supporting ambitious businesses across the Baltics, CEE region and the broader EU.” 

    With a 187-year tradition, Pehart Group is one of the largest paper manufacturers in Southeast Europe with a portfolio ranging from toilet paper, paper towels, napkins, and other hygiene paper products to jumbo rolls, used in the converting process into paper products for household and industrial use. In 2024, Pehart Group succeeded in strengthening its leading position on the market through production efficiency and strategic investments. The focus on diversifying the product portfolio led to new launches, such as the SOVIO brand, targeting the Away-from-Home sector, as well as expansion into international markets. In 2024, the Pehart Group generated revenues of EUR 165 million and employed more than 550 people across its companies. 

    Pehart Group is defined by continuous evolution, efficiency, respect for the planet’s resources and for the people who build its story every day. It continuously optimizes its products and services by creating a sustainable and equitable environment for a renewable future. Pufina, one of the most popular tissue paper brands in Romania, Alint, Altessa and SOVIO, the Away-from-Home products division, are part of the Pehart Group portfolio. 

    About the INVL Baltic Sea Growth Fund 

    With a fund size of EUR 165 million, the INVL Baltic Sea Growth Fund is the leading private equity fund in the Baltics. Its anchor investor is the European Investment Fund (EIF), which is a part of the European Investment Bank, and committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or the Junker Plan) while also allocating resources from the Baltic Innovation Fund (a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia,  to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics). The fund is managed by the leading asset management group in the Baltics Invalda INVL group, which companies manage or have under supervision over EUR 1.9 billion of assets. 

    Contact person for further information:
    Vytautas Plunksnis, Head of Private Equity at INVL Asset Management,
    Vytautas.Plunksnis@invl.com

    The MIL Network –

  • MIL-OSI: Eurocastle Announces Posting of 2025 Annual General Meeting Notice

    Source: GlobeNewswire (MIL-OSI)

    EUROCASTLE INVESTMENT LIMITED

                                       
                            FOR IMMEDIATE RELEASE
    Contact:        
    Oak Fund Services (Guernsey) Limited
    Company Administrator
    Attn: Nicole Barnes
    Tel: +44 1481 723450        

    Eurocastle Announces Posting of 2025 Annual General Meeting Notice

    Guernsey, 14 July 2025 – Eurocastle Investment Limited (Euronext Amsterdam: ECT) (“Eurocastle” or the “Company”) today announces that notice of its Annual General Meeting containing the full text of the proposed resolutions and a proxy statement has been mailed out to all holders on record as of Thursday, 10 July 2024. In addition, the Company has posted the Annual General Meeting notice on its website under Periodic Reports and Shareholder Communications in the Investor Relations Section.

    As previously announced, Eurocastle will hold its Annual General Meeting on Tuesday, 5 August 2025, at the Company’s registered office at 3:00 pm Guernsey time (4:00 pm CET).

    ABOUT EUROCASTLE

    Eurocastle Investment Limited (“Eurocastle” or the “Company”) is a publicly traded closed-ended investment company. On 8 July 2022, the Company announced the relaunch of its investment activity and is currently in the early stages of pursuing its new strategy by initially focusing on opportunistic real estate in Greece with a plan to expand across Southern Europe. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.

    The MIL Network –

  • MIL-OSI: Eurocastle Announces Posting of 2025 Annual General Meeting Notice

    Source: GlobeNewswire (MIL-OSI)

    EUROCASTLE INVESTMENT LIMITED

                                       
                            FOR IMMEDIATE RELEASE
    Contact:        
    Oak Fund Services (Guernsey) Limited
    Company Administrator
    Attn: Nicole Barnes
    Tel: +44 1481 723450        

    Eurocastle Announces Posting of 2025 Annual General Meeting Notice

    Guernsey, 14 July 2025 – Eurocastle Investment Limited (Euronext Amsterdam: ECT) (“Eurocastle” or the “Company”) today announces that notice of its Annual General Meeting containing the full text of the proposed resolutions and a proxy statement has been mailed out to all holders on record as of Thursday, 10 July 2024. In addition, the Company has posted the Annual General Meeting notice on its website under Periodic Reports and Shareholder Communications in the Investor Relations Section.

    As previously announced, Eurocastle will hold its Annual General Meeting on Tuesday, 5 August 2025, at the Company’s registered office at 3:00 pm Guernsey time (4:00 pm CET).

    ABOUT EUROCASTLE

    Eurocastle Investment Limited (“Eurocastle” or the “Company”) is a publicly traded closed-ended investment company. On 8 July 2022, the Company announced the relaunch of its investment activity and is currently in the early stages of pursuing its new strategy by initially focusing on opportunistic real estate in Greece with a plan to expand across Southern Europe. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.

    The MIL Network –

  • MIL-OSI: Falcon Oil & Gas Ltd (“Falcon”) – Another Stellar IP60 Flow Test Result in the Beetaloo and 2025 Drilling Campaign Commences

    Source: GlobeNewswire (MIL-OSI)

    Falcon Oil & Gas Ltd (“Falcon”)

    Another Stellar IP60 Flow Test Result in the Beetaloo

    And

    2025 Drilling Campaign Commences

    14 July 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that Shenandoah S2-2H ST1 (“SS-2H ST1”) achieved an average 60-day initial production (“IP60”) flow rate of 6.8 million cubic feet per day (“MMcf/d”) over 1,671-metres (5,483-foot) across a 35 stage stimulated horizontal within the Amungee Member B-Shale in the Beetaloo Sub-basin, Northern Territory, Australia, making it the highest IP60 result in the Beetaloo to date.

    Points to note:

    • The average flow rate of 12.4 MMcf/d over a normalized 10,000-foot horizontal section remains in-line with an average of more than 11,000 wells in the Marcellus Shale dry gas area on production over a 12-month period. The results demonstrate the commercial deliverability of gas from the Beetaloo Sub-basin to the Australian domestic East Coast gas market that typically sells at a premium to Henry Hub in the United States. 
    • The exit rate maintains a steady, low-declining curve at 6.4 MMcf/d with a flowing wellhead pressure of ~720 psi and has exhibited less decline than that of the Shenandoah South 1H well (“SS-1H”) over the last 30 days of testing.
    • For further details on the SS-2H ST1 flow test including a table, and charts please refer to Appendix A.

    Drilling Campaign Gets Underway

    • The 2025 drilling campaign has now commenced targeting up to three 10,000-foot horizontal wells to be drilled back-to-back over the next few months. This will complete the drilling phase of the five well Shenandoah South pilot program.
    • As previously announced, Falcon Oil & Gas Australia Limited (“Falcon Australia”) has no cost exposure to the drilling of these three wells as it opted to reduce its participating interest in the three wells to 0%.

    Philip O’Quigley, CEO of Falcon commented:

    “The IP60 flow rate results announced today of 6.8 MMcf/d are truly stellar and mark another major data point in the Beetaloo Sub-basin, again demonstrating that it compares to the best shale wells in the United States. These results, coupled with the average 30-day initial production exceeding Falcon’s pre-drill commercial threshold of a normalised flow rate of 3 MMcf/d per 1,000 metres, all point towards the significant resource potential of the Beetaloo.

    The commencement of the 2025 three well drilling campaign, which is the largest drilling campaign in the Beetaloo to date, will hopefully provide further evidence of the real commercial potential of the Beetaloo.

    We look forward to updating the market as soon as these drilling results become available.”

    Ends.

    CONTACT DETAILS:

    Falcon Oil & Gas Ltd.          +353 1 676 8702
    Philip O’Quigley, CEO +353 87 814 7042
    Anne Flynn, CFO +353 1 676 9162
     
    Cavendish Capital Markets Limited (NOMAD & Broker)
    Neil McDonald / Adam Rae +44 131 220 9771

     

    This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd’s Technical Advisor. Dr. Bada obtained his geology degree at the Eötvös L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG.

    About Falcon Oil & Gas Ltd.
    Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.

    Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.

    For further information on Falcon Oil & Gas Ltd. Please visit www.falconoilandgas.com

    About Beetaloo Joint Venture (EP 76, 98 and 117)   

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 22.5%
    Tamboran (B2) Pty Limited (“Tamboran”) 77.5%
    Total 100.0%

    Shenandoah South Pilot Project -2 Drilling Space Units – 46,080 acres1

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 5.0%
    Tamboran (B2) Pty Limited 95.0%
    Total 100.0%

    1Subject to the completion of SS–4H wells on the Shenandoah South pad 2.

    About Tamboran (B2) Pty Limited
    Tamboran (B1) Pty Limited (“Tamboran B1”) is the 100% holder of Tamboran (B2) Pty Limited, with Tamboran B1 being a 50:50 joint venture between Tamboran Resources Corporation and Daly Waters Energy, LP.

    Tamboran Resources Corporation is a natural gas company listed on the NYSE (TBN) and ASX (TBN). Tamboran is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing the significant low CO2 gas resource within the Beetaloo Sub-basin through cutting-edge drilling and completion design technology as well as management’s experience in successfully commercialising unconventional shale in North America.

    Bryan Sheffield of Daly Waters Energy, LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. (“PE”), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company.

     

    Appendix A – SS-2H ST1 Flow Test Details

    Note to reader: Please refer to the PDF attachment included at the end of this press release for further details including a table and charts related to the SS-2H ST1 flow test results.

    Advisory regarding forward-looking statements

    Certain information in this press release may constitute forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information typically contains statements with words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “dependent”, “consider” “potential”, “scheduled”, “forecast”, “anticipated”, “outlook”, “budget”, “hope”, “suggest”, “support” “planned”, “approximately”, “potential” or the negative of those terms or similar words suggesting future outcomes.  In particular, forward-looking information in this press release includes, details on the IP60 flow test results of SS-2H ST1 including assumptions that the results are in line with average of more than 11,000 wells in the Marcellus Shale dry gas area on production over a 12-month period and that they demonstrate the commercial deliverability of gas from the Beetaloo Sub-basin in the Australian Domestic East Coast gas market that typically sells at a premium to Henry Hub in the United States; consistency of the results of SS-2H ST1 with SS-1H; belief the average 30-day initial production of a normalised flow rate of 3 MMcf/d per 1,000 metres is a commercial threshold and coupled with the IP60 flow rate points towards the significant resource potential of the Beetaloo; and details on the 2025 three well drilling campaign which has commenced.

    This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. The risks, assumptions and other factors that could influence actual results include risks associated with fluctuations in market prices for shale gas; risks related to the exploration, development and production of shale gas reserves; general economic, market and business conditions; substantial capital requirements; uncertainties inherent in estimating quantities of reserves and resources; extent of, and cost of compliance with, government laws and regulations and the effect of changes in such laws and regulations; the need to obtain regulatory approvals before development commences; environmental risks and hazards and the cost of compliance with environmental regulations; aboriginal claims; inherent risks and hazards with operations such as mechanical or pipe failure, cratering and other dangerous conditions; potential cost overruns, drilling wells is speculative, often involving significant costs that may be more than estimated and may not result in any discoveries; variations in foreign exchange rates; competition for capital, equipment, new leases, pipeline capacity and skilled personnel; the failure of the holder of licenses, leases and permits to meet requirements of such; changes in royalty regimes; failure to accurately estimate abandonment and reclamation costs; inaccurate estimates and assumptions by management and/or their joint venture partners; effectiveness of internal controls; the potential lack of available drilling equipment; failure to obtain or keep key personnel; title deficiencies; geo-political risks; and risk of litigation.

    Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at www.sedarplus.com, including under “Risk Factors” in the Annual Information Form.

    Any references in this news release to initial production rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter and are not necessarily indicative of long-term performance or ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for Falcon. Such rates are based on field estimates and may be based on limited data available at this time.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Attachment

    The MIL Network –

  • MIL-OSI: Falcon Oil & Gas Ltd (“Falcon”) – Another Stellar IP60 Flow Test Result in the Beetaloo and 2025 Drilling Campaign Commences

    Source: GlobeNewswire (MIL-OSI)

    Falcon Oil & Gas Ltd (“Falcon”)

    Another Stellar IP60 Flow Test Result in the Beetaloo

    And

    2025 Drilling Campaign Commences

    14 July 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that Shenandoah S2-2H ST1 (“SS-2H ST1”) achieved an average 60-day initial production (“IP60”) flow rate of 6.8 million cubic feet per day (“MMcf/d”) over 1,671-metres (5,483-foot) across a 35 stage stimulated horizontal within the Amungee Member B-Shale in the Beetaloo Sub-basin, Northern Territory, Australia, making it the highest IP60 result in the Beetaloo to date.

    Points to note:

    • The average flow rate of 12.4 MMcf/d over a normalized 10,000-foot horizontal section remains in-line with an average of more than 11,000 wells in the Marcellus Shale dry gas area on production over a 12-month period. The results demonstrate the commercial deliverability of gas from the Beetaloo Sub-basin to the Australian domestic East Coast gas market that typically sells at a premium to Henry Hub in the United States. 
    • The exit rate maintains a steady, low-declining curve at 6.4 MMcf/d with a flowing wellhead pressure of ~720 psi and has exhibited less decline than that of the Shenandoah South 1H well (“SS-1H”) over the last 30 days of testing.
    • For further details on the SS-2H ST1 flow test including a table, and charts please refer to Appendix A.

    Drilling Campaign Gets Underway

    • The 2025 drilling campaign has now commenced targeting up to three 10,000-foot horizontal wells to be drilled back-to-back over the next few months. This will complete the drilling phase of the five well Shenandoah South pilot program.
    • As previously announced, Falcon Oil & Gas Australia Limited (“Falcon Australia”) has no cost exposure to the drilling of these three wells as it opted to reduce its participating interest in the three wells to 0%.

    Philip O’Quigley, CEO of Falcon commented:

    “The IP60 flow rate results announced today of 6.8 MMcf/d are truly stellar and mark another major data point in the Beetaloo Sub-basin, again demonstrating that it compares to the best shale wells in the United States. These results, coupled with the average 30-day initial production exceeding Falcon’s pre-drill commercial threshold of a normalised flow rate of 3 MMcf/d per 1,000 metres, all point towards the significant resource potential of the Beetaloo.

    The commencement of the 2025 three well drilling campaign, which is the largest drilling campaign in the Beetaloo to date, will hopefully provide further evidence of the real commercial potential of the Beetaloo.

    We look forward to updating the market as soon as these drilling results become available.”

    Ends.

    CONTACT DETAILS:

    Falcon Oil & Gas Ltd.          +353 1 676 8702
    Philip O’Quigley, CEO +353 87 814 7042
    Anne Flynn, CFO +353 1 676 9162
     
    Cavendish Capital Markets Limited (NOMAD & Broker)
    Neil McDonald / Adam Rae +44 131 220 9771

     

    This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd’s Technical Advisor. Dr. Bada obtained his geology degree at the Eötvös L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG.

    About Falcon Oil & Gas Ltd.
    Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.

    Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.

    For further information on Falcon Oil & Gas Ltd. Please visit www.falconoilandgas.com

    About Beetaloo Joint Venture (EP 76, 98 and 117)   

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 22.5%
    Tamboran (B2) Pty Limited (“Tamboran”) 77.5%
    Total 100.0%

    Shenandoah South Pilot Project -2 Drilling Space Units – 46,080 acres1

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 5.0%
    Tamboran (B2) Pty Limited 95.0%
    Total 100.0%

    1Subject to the completion of SS–4H wells on the Shenandoah South pad 2.

    About Tamboran (B2) Pty Limited
    Tamboran (B1) Pty Limited (“Tamboran B1”) is the 100% holder of Tamboran (B2) Pty Limited, with Tamboran B1 being a 50:50 joint venture between Tamboran Resources Corporation and Daly Waters Energy, LP.

    Tamboran Resources Corporation is a natural gas company listed on the NYSE (TBN) and ASX (TBN). Tamboran is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing the significant low CO2 gas resource within the Beetaloo Sub-basin through cutting-edge drilling and completion design technology as well as management’s experience in successfully commercialising unconventional shale in North America.

    Bryan Sheffield of Daly Waters Energy, LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. (“PE”), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company.

     

    Appendix A – SS-2H ST1 Flow Test Details

    Note to reader: Please refer to the PDF attachment included at the end of this press release for further details including a table and charts related to the SS-2H ST1 flow test results.

    Advisory regarding forward-looking statements

    Certain information in this press release may constitute forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information typically contains statements with words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “dependent”, “consider” “potential”, “scheduled”, “forecast”, “anticipated”, “outlook”, “budget”, “hope”, “suggest”, “support” “planned”, “approximately”, “potential” or the negative of those terms or similar words suggesting future outcomes.  In particular, forward-looking information in this press release includes, details on the IP60 flow test results of SS-2H ST1 including assumptions that the results are in line with average of more than 11,000 wells in the Marcellus Shale dry gas area on production over a 12-month period and that they demonstrate the commercial deliverability of gas from the Beetaloo Sub-basin in the Australian Domestic East Coast gas market that typically sells at a premium to Henry Hub in the United States; consistency of the results of SS-2H ST1 with SS-1H; belief the average 30-day initial production of a normalised flow rate of 3 MMcf/d per 1,000 metres is a commercial threshold and coupled with the IP60 flow rate points towards the significant resource potential of the Beetaloo; and details on the 2025 three well drilling campaign which has commenced.

    This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. The risks, assumptions and other factors that could influence actual results include risks associated with fluctuations in market prices for shale gas; risks related to the exploration, development and production of shale gas reserves; general economic, market and business conditions; substantial capital requirements; uncertainties inherent in estimating quantities of reserves and resources; extent of, and cost of compliance with, government laws and regulations and the effect of changes in such laws and regulations; the need to obtain regulatory approvals before development commences; environmental risks and hazards and the cost of compliance with environmental regulations; aboriginal claims; inherent risks and hazards with operations such as mechanical or pipe failure, cratering and other dangerous conditions; potential cost overruns, drilling wells is speculative, often involving significant costs that may be more than estimated and may not result in any discoveries; variations in foreign exchange rates; competition for capital, equipment, new leases, pipeline capacity and skilled personnel; the failure of the holder of licenses, leases and permits to meet requirements of such; changes in royalty regimes; failure to accurately estimate abandonment and reclamation costs; inaccurate estimates and assumptions by management and/or their joint venture partners; effectiveness of internal controls; the potential lack of available drilling equipment; failure to obtain or keep key personnel; title deficiencies; geo-political risks; and risk of litigation.

    Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at www.sedarplus.com, including under “Risk Factors” in the Annual Information Form.

    Any references in this news release to initial production rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter and are not necessarily indicative of long-term performance or ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for Falcon. Such rates are based on field estimates and may be based on limited data available at this time.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Attachment

    The MIL Network –

  • MIL-Evening Report: Author condemns ‘callous’ health legacy of French, US nuclear bomb tests in Pacific

    Asia Pacific Report

    A journalist who was on the Rainbow Warrior voyage to Rongelap last night condemned France for its “callous” attack of an environmental ship, saying “we haven’t forgotten, or forgiven this outrage”.

    David Robie, the author of Eyes of Fire: The Last Voyage and Legacy of the Rainbow Warrior, said at the launch that the consequences of almost 300 US and French nuclear tests – many of them “dirty bombs” — were still impacting on indigenous Pacific peoples 40 years after the bombing of the ship.

    French saboteurs had killed “our shipmate Fernando Pereira” on 10 July 1985 in what the New Zealand prime minister at the time, David Lange, called a “sordid act of international state-backed terrorism”.

    Although relations with France had perhaps mellowed over time, four decades ago there was a lot of hostility towards the country, Dr Robie said.

    “And that act of mindless sabotage still rankles very deeply in our psyche,” he said at the launch in Auckland Central’s Ellen Melville Centre on the anniversary of July 10.

    About 100 people gathered in the centre’s Pioneer Women’s Hall for the book launch as Dr Robie reflected on the case of state terrorism after Greenpeace earlier in the day held a memorial ceremony on board Rainbow Warrior III.

    “One of the celebrated French newspapers, Le Monde, played a critical role in the investigation into the Rainbow Warrior affair — what I brand as ‘Blundergate’, in view of all the follies of the bumbling DGSE spy team,” he said.

    Plantu cartoon
    “And one of the cartoons in that newspaper, by Plantu, who is a sort of French equivalent to Michael Leunig, caught my eye.

    “You will notice it in the background slide show behind me. It shows François Mitterrand, the president of the French republic at the time, dressed in a frogman’s wetsuit lecturing to school children during a history lesson.

    “President Mitterrand says, in French, ‘At that time, only presidents had the right to carry out terrorism!’

    Tahitian advocate Ena Manurevia . . . the background Plantu cartoon is the one mentioned by the author. Image: Asia Pacific Report

    He noticed that in the Mitterrand cartoon there was a “classmate” sitting in the back of the room with a moustache. This was none other than Edwy Plenel, the police reporter for Le Monde at the time, who scooped the world with hard evidence of Mitterrand and the French government’s role at the highest level in the Rainbow Warrior sabotage.

    Dr Robie said that Plenel now published the investigative website Mediapart, which had played a key role in 2015 revealing the identity of the bomber that night, “the man who had planted the limpet mines on the Rainbow Warrior — sinking a peace and environmental ship, and killing Fernando Pereira.”

    Jean-Luc Kister, a retired French colonel and DGSE secret agent, had confessed to his role and “apologised”, claiming the sabotage operation was “disproportionate and a mistake”.

    “Was he sincere? Was it a genuine attempt to come to terms with his conscience. Who knows?” Dr Robie said, adding that he was unconvinced.

    Hilari Anderson (right on stage), one of the speakers, with Del Abcede and MC Antony Phillips (obscured) . . . the background image shows Helen Clark meeting Fernando Pereira’s daughter Marelle in 2005. Image: Greenpeace

    French perspective
    Dr Robie said he had asked Plenel for his reflections from a French perspective 40 years on. Plenel cited three main take ways.

    “First, the vital necessity of independent journalism. Independent of all powers, whether state, economic or ideological. Journalism that serves the public interest, the right to know, and factual truths.

    “Impactful journalism whose revelations restore confidence in democracy, in the possibility of improving it, and in the usefulness of counterbalancing powers, particularly journalism.”

    Secondly, this attack had been carried out by France in an “allied country”, New Zealand, against a civil society organisation. This demonstrated that “the thirst for power is a downfall that leads nations astray when they succumb to it.

    “Nuclear weapons epitomise this madness, this catastrophe of power.”

    Finally, Plenel expressed the “infinite sadness” for a French citizen that after his revelations in Le Monde — which led to the resignations of the defence minister and the head of the secret services — nothing else happened.

    “Nothing at all. No parliamentary inquiry, no questioning of François Mitterrand about his responsibility, no institutional reform of the absolute power of the president in a French republic that is, in reality, an elective monarchy.”

    ‘Elective monarchy’ trend
    Dr Robie compared the French outcome with the rapid trend in US today, “a president who thinks he is a monarch, a king – another elective monarchy.”

    He also bemoaned that “catastrophe of power” that “reigns everywhere today – from the horrendous Israeli genocide in Gaza to the Russian invasion of Ukraine, from Trump to Putin to Netanyahu, and so many others.”

    The continuous Gaza massacres were a shameful indictment of the West that had allowed it to happen for more than 21 months.

    Dr Robie thanked many collaborators for their help and support, including drama teacher Hilari Anderson, an original crew member of the Rainbow Warrior, and photographer John Miller, “who have been with me all the way on this waka journey”.

    He thanked his wife, Del, and family members for their unstinting “patience and support”, and also publisher Tony Murrow of Little Island Press.

    Eyes of Fire: The Last Voyage and Legacy of the Rainbow Warrior . . . published 10 July 2025. Image: David Robie/Little Island Press

    Launching the book, Greenpeace Aotearoa programme director Niamh O’Flynn said one thing that had stood out for her was how the legacy of the Rainbow Warrior had continued despite the attempt by the French government to shut it down 40 years ago.

    “We said then that ‘you can’t sink a rainbow’, and we went on to prove it.

    “When the Rainbow Warrior was bombed in Auckland harbour, it was getting ready to set sail to Moruroa Atoll, to enter the test exclusion zone and confront French nuclear testing head-on.”

    So threatened
    The French government had felt so threatened by that action that it had engaged in a state-sanctioned terror attack to prevent the mission from going ahead.

    “But we rebuilt, and the Rainbow Warrior II carried on with that mission, travelling to Moruroa three times before the French finally stopped nuclear testing in the Pacific.

    “That spirit and tenacity is what makes Greenpeace and what makes the Rainbow Warrior so special to everyone who has sailed on her,” she said.

    “It was the final voyage of the Rainbow Warrior to Rongelap before the bombing that is the focus of David Robie’s book, and in many ways, it was an incredibly unique experience for Greenpeace — not just here in Aotearoa, but internationally.

    “And of course David was a key part in that.”

    O’Flynn said that as someone who had not even been born yet when the Rainbow Warrior was bombed, “I am so grateful that the generation of nuclear-free activists took the time to pass on their knowledge and to build our organisation into what it is today.

    “Just as David has by writing down his story and leaving us with such a rich legacy.”

    Greenpeace Aotearoa programme director Niamh O’Flynn . . . “That spirit and tenacity is what makes Greenpeace and what makes the Rainbow Warrior so special to everyone who has sailed on her.” Image: APR

    Other speakers
    Among other speakers at the book launch were teacher Hilari Anderson, publisher Tony Murrow of Little Island Press, Ena Manuireva, a Mangarevian scholar and cultural adviser, and MC Antony Phillips of Heritage New Zealand Pouhere Taonga.

    Anderson spoke of the Warrior’s early campaigns and acknowledged the crews of 1978 and 1985.

    “I have been reflecting what these first and last crews of the original Rainbow Warrior had in common, realising that both gave their collective, mostly youthful energy — to transformation.

    “This has involved the bonding of crews by working hands-on together. Touching surfaces, by hammer and paint, created a physical connection to this beloved boat.”

    She paid special tribute to two powerful women, Denise Bell, who tracked down the marine research vessel in Aberdeen that became the Rainbow Warrior, and the indomitable Susi Newborn, who “contributed to naming the ship and mustering a crew”.

    Manuireva spoke about his nuclear colonial experience and that of his family as natives of Mangareva atoll, about 400 km from Muroroa atoll, where France conducted most of its 30 years of tests ending in 1995.

    He also spoke of Tahitian leader Oscar Temaru’s pioneering role in the Nuclear-Free and Independent Pacific (NFIP) movement, and played haunting Tahitian songs on his guitar.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Author condemns ‘callous’ health legacy of French, US nuclear bomb tests in Pacific

    Asia Pacific Report

    A journalist who was on the Rainbow Warrior voyage to Rongelap last night condemned France for its “callous” attack of an environmental ship, saying “we haven’t forgotten, or forgiven this outrage”.

    David Robie, the author of Eyes of Fire: The Last Voyage and Legacy of the Rainbow Warrior, said at the launch that the consequences of almost 300 US and French nuclear tests – many of them “dirty bombs” — were still impacting on indigenous Pacific peoples 40 years after the bombing of the ship.

    French saboteurs had killed “our shipmate Fernando Pereira” on 10 July 1985 in what the New Zealand prime minister at the time, David Lange, called a “sordid act of international state-backed terrorism”.

    Although relations with France had perhaps mellowed over time, four decades ago there was a lot of hostility towards the country, Dr Robie said.

    “And that act of mindless sabotage still rankles very deeply in our psyche,” he said at the launch in Auckland Central’s Ellen Melville Centre on the anniversary of July 10.

    About 100 people gathered in the centre’s Pioneer Women’s Hall for the book launch as Dr Robie reflected on the case of state terrorism after Greenpeace earlier in the day held a memorial ceremony on board Rainbow Warrior III.

    “One of the celebrated French newspapers, Le Monde, played a critical role in the investigation into the Rainbow Warrior affair — what I brand as ‘Blundergate’, in view of all the follies of the bumbling DGSE spy team,” he said.

    Plantu cartoon
    “And one of the cartoons in that newspaper, by Plantu, who is a sort of French equivalent to Michael Leunig, caught my eye.

    “You will notice it in the background slide show behind me. It shows François Mitterrand, the president of the French republic at the time, dressed in a frogman’s wetsuit lecturing to school children during a history lesson.

    “President Mitterrand says, in French, ‘At that time, only presidents had the right to carry out terrorism!’

    Tahitian advocate Ena Manurevia . . . the background Plantu cartoon is the one mentioned by the author. Image: Asia Pacific Report

    He noticed that in the Mitterrand cartoon there was a “classmate” sitting in the back of the room with a moustache. This was none other than Edwy Plenel, the police reporter for Le Monde at the time, who scooped the world with hard evidence of Mitterrand and the French government’s role at the highest level in the Rainbow Warrior sabotage.

    Dr Robie said that Plenel now published the investigative website Mediapart, which had played a key role in 2015 revealing the identity of the bomber that night, “the man who had planted the limpet mines on the Rainbow Warrior — sinking a peace and environmental ship, and killing Fernando Pereira.”

    Jean-Luc Kister, a retired French colonel and DGSE secret agent, had confessed to his role and “apologised”, claiming the sabotage operation was “disproportionate and a mistake”.

    “Was he sincere? Was it a genuine attempt to come to terms with his conscience. Who knows?” Dr Robie said, adding that he was unconvinced.

    Hilari Anderson (right on stage), one of the speakers, with Del Abcede and MC Antony Phillips (obscured) . . . the background image shows Helen Clark meeting Fernando Pereira’s daughter Marelle in 2005. Image: Greenpeace

    French perspective
    Dr Robie said he had asked Plenel for his reflections from a French perspective 40 years on. Plenel cited three main take ways.

    “First, the vital necessity of independent journalism. Independent of all powers, whether state, economic or ideological. Journalism that serves the public interest, the right to know, and factual truths.

    “Impactful journalism whose revelations restore confidence in democracy, in the possibility of improving it, and in the usefulness of counterbalancing powers, particularly journalism.”

    Secondly, this attack had been carried out by France in an “allied country”, New Zealand, against a civil society organisation. This demonstrated that “the thirst for power is a downfall that leads nations astray when they succumb to it.

    “Nuclear weapons epitomise this madness, this catastrophe of power.”

    Finally, Plenel expressed the “infinite sadness” for a French citizen that after his revelations in Le Monde — which led to the resignations of the defence minister and the head of the secret services — nothing else happened.

    “Nothing at all. No parliamentary inquiry, no questioning of François Mitterrand about his responsibility, no institutional reform of the absolute power of the president in a French republic that is, in reality, an elective monarchy.”

    ‘Elective monarchy’ trend
    Dr Robie compared the French outcome with the rapid trend in US today, “a president who thinks he is a monarch, a king – another elective monarchy.”

    He also bemoaned that “catastrophe of power” that “reigns everywhere today – from the horrendous Israeli genocide in Gaza to the Russian invasion of Ukraine, from Trump to Putin to Netanyahu, and so many others.”

    The continuous Gaza massacres were a shameful indictment of the West that had allowed it to happen for more than 21 months.

    Dr Robie thanked many collaborators for their help and support, including drama teacher Hilari Anderson, an original crew member of the Rainbow Warrior, and photographer John Miller, “who have been with me all the way on this waka journey”.

    He thanked his wife, Del, and family members for their unstinting “patience and support”, and also publisher Tony Murrow of Little Island Press.

    Eyes of Fire: The Last Voyage and Legacy of the Rainbow Warrior . . . published 10 July 2025. Image: David Robie/Little Island Press

    Launching the book, Greenpeace Aotearoa programme director Niamh O’Flynn said one thing that had stood out for her was how the legacy of the Rainbow Warrior had continued despite the attempt by the French government to shut it down 40 years ago.

    “We said then that ‘you can’t sink a rainbow’, and we went on to prove it.

    “When the Rainbow Warrior was bombed in Auckland harbour, it was getting ready to set sail to Moruroa Atoll, to enter the test exclusion zone and confront French nuclear testing head-on.”

    So threatened
    The French government had felt so threatened by that action that it had engaged in a state-sanctioned terror attack to prevent the mission from going ahead.

    “But we rebuilt, and the Rainbow Warrior II carried on with that mission, travelling to Moruroa three times before the French finally stopped nuclear testing in the Pacific.

    “That spirit and tenacity is what makes Greenpeace and what makes the Rainbow Warrior so special to everyone who has sailed on her,” she said.

    “It was the final voyage of the Rainbow Warrior to Rongelap before the bombing that is the focus of David Robie’s book, and in many ways, it was an incredibly unique experience for Greenpeace — not just here in Aotearoa, but internationally.

    “And of course David was a key part in that.”

    O’Flynn said that as someone who had not even been born yet when the Rainbow Warrior was bombed, “I am so grateful that the generation of nuclear-free activists took the time to pass on their knowledge and to build our organisation into what it is today.

    “Just as David has by writing down his story and leaving us with such a rich legacy.”

    Greenpeace Aotearoa programme director Niamh O’Flynn . . . “That spirit and tenacity is what makes Greenpeace and what makes the Rainbow Warrior so special to everyone who has sailed on her.” Image: APR

    Other speakers
    Among other speakers at the book launch were teacher Hilari Anderson, publisher Tony Murrow of Little Island Press, Ena Manuireva, a Mangarevian scholar and cultural adviser, and MC Antony Phillips of Heritage New Zealand Pouhere Taonga.

    Anderson spoke of the Warrior’s early campaigns and acknowledged the crews of 1978 and 1985.

    “I have been reflecting what these first and last crews of the original Rainbow Warrior had in common, realising that both gave their collective, mostly youthful energy — to transformation.

    “This has involved the bonding of crews by working hands-on together. Touching surfaces, by hammer and paint, created a physical connection to this beloved boat.”

    She paid special tribute to two powerful women, Denise Bell, who tracked down the marine research vessel in Aberdeen that became the Rainbow Warrior, and the indomitable Susi Newborn, who “contributed to naming the ship and mustering a crew”.

    Manuireva spoke about his nuclear colonial experience and that of his family as natives of Mangareva atoll, about 400 km from Muroroa atoll, where France conducted most of its 30 years of tests ending in 1995.

    He also spoke of Tahitian leader Oscar Temaru’s pioneering role in the Nuclear-Free and Independent Pacific (NFIP) movement, and played haunting Tahitian songs on his guitar.

    MIL OSI Analysis – EveningReport.nz –

  • EU ready to hit US with 21-billion-euro tariff list, Italy foreign minister says

    Source: Government of India

    Source: Government of India (4)

    The European Union has already prepared a list of tariffs worth 21 billion euros ($24.52 billion) on U.S. goods if the two countries fail to reach a trade deal, Italy’s Foreign Minister Antonio Tajani said in a newspaper interview on Monday.

    President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the EU starting on Aug. 1, after weeks of negotiations with major U.S. trading partners failed to reach a comprehensive deal.

    Tajani also told daily Il Messaggero that to help the euro zone economy the European Central Bank should consider a new “quantitative easing” bond-buying-programme, and more interest rate cuts.

    The European Union said on Sunday it would extend its suspension of countermeasures to U.S. tariffs until early August and continue to press for a negotiated settlement.

    Tajani said the 21-billion-euro package of tariffs the EU has already prepared could be followed by a second set if a deal with the U.S proves impossible. He added, however, that he was confident that progress could be made in negotiations.

    “Tariffs hurt every one, starting with the United States,” he said. “If stock markets fall that puts at risk the pensions and the savings of the Americans.”

    He said the goal should be “zero tariffs” and an open market among Canada, the United States, Mexico and Europe.

    German Chancellor Friedrich Merz said on Sunday he would work intensively with French President Emmanuel Macron and European Commission President Ursula von der Leyen to resolve the escalating trade war with the United States.

    (Reuters)