MIL-OSI Russia: The buildings of the state wine warehouse were included in the list of cultural heritage sites

Translation. Region: Russian Federal

Source: Moscow Government – Government of Moscow –

An important disclaimer is at the bottom of this article.

The complex of buildings of the Moscow State Wine Warehouse No. 1 of the 19th–20th centuries (now the Moscow Crystal Factory) was among the 142 identified cultural heritage sites. In total, the Unified State Register of Cultural Heritage Sites includes 3,975 historical buildings and structures. All monuments are under state protection. Their owners and tenants are obliged to ensure the preservation of cultural heritage sites and maintain them in accordance with the approved subject of protection.

Moscow State Wine Warehouse

The complex of buildings of the Moscow Crystal Plant is located on Samokatnaya Street (house 4, buildings 1, 2, 9, 11, 13, 14, 32 and an unnamed building). This is a monument of industrial architecture from the turn of the 19th–20th centuries, which previously had another name – Moscow State Wine Warehouse No. 1. It was erected on the bank of the Yauza River in Lefortovo and became the largest enterprise in the industry.

The oldest buildings that have survived to this day date back to 1851–1876. The main part of the production buildings was created by the architect Nikolai Faleev and the civil engineer Viktor Velichkin.

In 1894, on the initiative of the Minister of Finance of the Russian Empire, Sergei Witte, a state monopoly on the production and sale of alcoholic beverages was introduced in the country. In 1901, it also affected Moscow.

After the introduction of prohibition in 1914 during the First World War, Moscow State Wine Warehouse No. 1 continued to manufacture products for medical and technical needs and for export abroad. Several buildings of the plant were given over to housing the wounded.

Since 1925, the production of strong alcoholic beverages has been resumed here. During the Great Patriotic War, the Moscow State Wine Warehouse No. 1 bottled Molotov cocktails and produced dry alcohol. On July 22, 1941, a bomb hit its main building. The building burned almost completely inside and was restored only by 1950.

In January 1987, Moscow State Wine Warehouse No. 1 was renamed the Crystal Plant. In 2013, the Crystal Plant’s production facilities were transferred to the Kashirsky District of the Moscow Region. However, the head office remains located in Moscow on Samokatnaya Street.

Get the latest news quicklyofficial telegram channel the city of Moscow.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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MIL OSI Russia News –

July 22, 2025

MIL-OSI Russia: A new water supply system will appear in Shcherbinka

Translation. Region: Russian Federal

Source: Moscow Government – Government of Moscow –

An important disclaimer is at the bottom of this article.

A new water pipeline will be built in the Shcherbinka district of the Novomoskovsk administrative district. The corresponding territorial planning project has already been approved. This was reported by Juliana Knyazhevskaya, Chairman of the Committee for Architecture and Urban Development of the City of Moscow (Moskomarkhitektura).

Large-scale work is being carried out in TiNAO to update water supply and sanitation systems. The new facility will provide residents of Shcherbinka with water from a centralized system supplied by the Western Water Treatment Plant.

“In the Shcherbinka district, it is planned to build a new water pipeline for water supply to existing and prospective consumers of the district. At present, a land use planning project has been approved for an area of about 96 hectares. It is planned to build a water pipeline and regulating water pumping units “Ryazanovsky-1”, “Ryazanovsky-2” and “Erino”, as well as two access roads. The total length of the water pipeline will be 3.42 kilometers. The work is being carried out within the framework of the capital’s Address Investment Program,” said Yuliana Knyazhevskaya.

She also added that high-quality design of engineering infrastructure and water supply systems in new areas is a key element of sustainable development. The creation of a well-thought-out and reliable network will not only improve the quality of life of city residents, but will also ensure long-term stability and comfort for future generations, contributing to the harmonious development of the territory.

Moscow Mayor Talks About More Than Two Centuries of Water Supply System History

Get the latest news quicklyofficial telegram channel the city of Moscow.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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MIL OSI Russia News –

July 22, 2025

MIL-OSI Russia: A production complex will appear in Zelenograd as part of a large-scale investment project

Translation. Region: Russian Federal

Source: Moscow Government – Government of Moscow –

An important disclaimer is at the bottom of this article.

In the Zelenograd Administrative District (ZelAO), as part of a large-scale investment project (MaIP), a production complex is being built for the companies Pervy DSK and Life Engineering. This is the third of four facilities being built in the Savelki area. This was reported by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.

“In accordance with the instructions of Sergei Sobyanin, the capital continues to implement projects to develop industrial infrastructure. For example, a complex of four production facilities for various purposes is being built in Zelenograd, where it is planned to produce windows, aerated concrete blocks and ready-made modules. Its creation became possible thanks to two key measures to support the city at once. Due to the status of a large-scale investment project, the investor was able to lease a plot of land on preferential terms. And thanks to the program to stimulate the creation of employment opportunities, after the completion of the construction of all enterprises, the complex will provide more than 600 new jobs for residents of the capital. This will strengthen the production potential of the city and increase the level of employment of the population,” said Maxim Liksutov.

The complex will house two enterprises producing modern construction products.

The plant of the company “First DSK” will produce window and door systems, as well as facades using glass and aluminum. The enterprise will provide a full cycle of work – from standard elements to individual solutions. The annual output will be up to 279 thousand square meters of PVC structures, 82 thousand square meters of products with warm glazing and 184 thousand square meters – with cold glazing.

The Life Engineering company’s enterprise will produce 40 thousand square meters of ready-made modules per year using prefab technology. It involves the preliminary assembly of standard-sized modular structures with full or partial glazing.

“The construction of an industrial facility, which will become part of the city’s modern infrastructure, is underway in Zelenograd Administrative Okrug. The project’s implementation will create over 100 jobs for residents of the district and open up additional employment opportunities near home. The new facility, with a total area of over 17 thousand square meters, will be located in the Savelki district,” said the Minister of the Moscow Government, head of the Moscow Department of Investment and Industrial Policy

Anatoly Garbuzov.

The city provides land plots for the construction of production facilities within the framework of the implementation of the MAIP at a preferential rate of one ruble per year. This contributes to the development of Moscow’s infrastructure and the reduction of pendulum migration of the population of different districts.

“The provision of land plots at a preferential rate for the creation and expansion of production is a support measure that has been in effect in the capital since March 2022. The FSK Group of Companies was one of the first to take advantage of this opportunity. A plot of about 3.5 hectares was allocated for the construction of the complex. In total, more than 17 hectares of land in the Savelki area have been transferred to the company for the construction of four industrial facilities,” she noted.

Ekaterina Solovieva, Minister of the Moscow Government, Head of the Moscow Department of City Property.

The construction of the complex is under control Committee for State Construction Supervision of the City of Moscow (Moscow State Construction Supervision Authority).

As the head of the department said Anton Slobodchikov, permitting documentation, which allows the developer to begin work on the territory of the complex, was issued at the end of December 2023. The facility will have workshops, warehouses, administrative blocks and checkpoints, offices, a medical center, a canteen, sanitary and household premises and dressing rooms. More than two thousand square meters are allocated for landscaping. Mosgosstroynadzor inspectors monitor each stage of construction – from site preparation to the delivery of the facility. The implementation is carried out in strict accordance with the design documentation and compliance with all technical requirements.

Work is currently underway to install a reinforced concrete base and roof, as well as to install metal structures and sandwich panels.

FSK Group Project Director Maxim Rybakov noted that the new industrial facility in Zelenograd will unite two high-tech production facilities at one site. This will increase the efficiency of using the provided land plot and provide residents of the district with a large selection of vacancies for employment at future enterprises. The partnership of the city and business in projects of this scale allows for a comprehensive approach to the development of territories and human resources. Maxim Rybakov also noted that construction is planned to be completed this year.

The program to stimulate the creation of employment opportunities has covered almost all districts of the city since 2020. Investors will build over 230 facilities with a total area of over six million square meters. Among them are new industrial enterprises, office and shopping centers, as well as educational, cultural and sports institutions. The implementation of the projects will create more than 310 thousand new jobs in almost all sectors of the city’s economy.

Get the latest news quickly official telegram channel the city of Moscow.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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MIL OSI Russia News –

July 22, 2025

MIL-OSI: Correction: LHV Group unaudited financial results for Q2 and 6 months of 2025

Source: GlobeNewswire (MIL-OSI)

— The corrected Estonian interim report has been added in the revised version —

In Q2 of 2025, LHV Group was able to earn higher net profit and increase business volumes against the background of lower interest rates. The loan portfolio of LHV Group reached 5 billion euros.

In Q2 2025, LHV Group earned a net profit of 30.8 million euros, which was 1.6 million euros more than in the previous quarter (+6% increase). The return on equity attributable to the shareholders of the Group was 17.4% in Q2.

All subsidiaries of the Group were profitable in the quarter. LHV Pank earned a net profit of 29.7 million euros, LHV Bank Ltd 0.1 million euros, LHV Varahaldus 0.5 million euros and LHV Kindlustus 1.1 million euros.

On a consolidated basis, LHV Group earned 73.9 million euros in revenue in Q1 2025, i.e. 7% less than in the previous quarter and 14% less than a year ago. Of the revenue of Q2 of this year, net interest income accounted for 57.6 million euros, and net fee and commission income for 15.6 million euros of total net income. Expenditure totalled 40.5 million euros, being 8% more than in the previous quarter and 11% more than a year ago. Due to the improvement of the macroeconomic situation, the previous provisions were undervalued in the amount of 4.2 million euros in the second quarter, which finally had a positive effect at the level of net profit.

As at the end of June, LHV Group consolidated assets amounted to 9.38 billion euros, which was 10% more than in the previous quarter and 28% more than in the same period last year. The consolidated loan portfolio increased by 269 million euros or 6% to 5.0 billion euros over the quarter (the loan portfolio increased by 1.1 billion euros or 28% year-on-year). Consolidated deposits of LHV Group increased by 760 million euros, i.e. by 12%, to 7.36 billion euros. The volume of funds managed by LHV increased by 3.7 million euros, to 1.56 billion euros. The number of payments made by clients who are financial intermediaries was 19.9 million in the second quarter, which was slightly less than in the previous quarter.

LHV Group’s consolidated net revenue for the 6 months of 2025 amounted to 153.3 million euros, which is 16.5 million euros or 10% less compared to the same period last year. Expenditure totalled 78.1 million euros, which was 7.8 million euros or 11% more. The Group’s 6-month consolidated net profit was 59.9 million euros, being a decrease of 19.4 million euros, or 24%, compared to the previous year. In six months, LHV Pank earned a net profit of 54.9 million euros, LHV Bank Ltd 2.3 million euros, LHV Varahaldus 0.6 million euros and LHV Kindlustus 1.7 million euros. LHV Group’s ROE for the first half of the year was 17.0%.

Based on the first half of the year, LHV Group outperforms the financial forecast at the level of net income by 2.0 million euros and at the level of net profit by 2.3 million euros.

Income statement, EUR Th	Q2 2025	Q1 2025	Q2 2024 adjusted
Net interest income	57,643	62,010	70,424
Net fee and commission income	15,579	14,071	14,352
Net financial income	-380	2,747	-37
Net insurance income	1,065	597	421
Other operating income and expense	0	-4	638
Total net income	73,907	79,421	85,798
Staff costs	-22,901	-22,655	-20,420
Office expenses	-679	-659	-874
IT costs	-4,017	-3,576	-3,267
Marketing expenses	-1,526	-1,258	-796
Other operating expenses	-11,387	-9,394	-10,741
Total expenses	-40,510	–37,542	–36,098
Operating profit	33,397	41,879	49,700
Profit before allowances	33,397	41,879	49,700
Allowances	4,152	-5,667	-5,043
Income tax expenses	-6,784	-7,052	-6,071
Net profit	30,765	29,160	38,586
Minority holding	716	592	300
Shareholders’ share of profit of parent company	30,049	28,568	38,286

Net earnings per share, EUR	0.09	0.09	0.12
Diluted earnings per share, EUR	0.09	0.09	0.12



Balance sheet, EUR Th	June 2025	March 2025	June 2024
Cash and due from banks	3,867,487	3,279,271	3,217,448
Financial assets	454,979	442,463	157,131
Loans to clients	5,038,379	4,774,970	3,925,877
Loan impairment reserve	-39,734	-45,629	-35,333
Receivables from clients	16,626	9,439	15,380
Other assets	46,058	47,771	49,220
Total assets	9,383,795	8,508,285	7,329,723
Demand deposits	4,669,435	4,189,062	3,659,675
Term deposits	2,694,906	2,415,430	2,124,254
Loans received	1,037,347	936,215	735,281
Due to clients and loans received	8,401,688	7,540,707	6,519,211
Accruals and other liabilities	105,692	163,690	100,709
Subordinated loans	161,155	126,247	107,521
Total liabilities	8,668,535	7,830,644	6,727,441
Owners’ equity	715,260	677,641	602,282
incl. minority holding	7,850	7,134	7,694
Total liabilities and owner’s equity	9,383,795	8,508,285	7,329,723

LHV Group’s net income in the second quarter was affected by the continuing decline in interest rates. The higher profitability compared to the previous quarter resulted in a write-down effect of the previous provisions, which resulted in an increase of the Group’s net profit by 1.6 million euros in the second quarter. The second quarter was also marked by strong growth in loan volumes and deposits, which were 269 and 760 million euros, respectively, compared to the previous quarter.

The number of LHV Pank clients increased by 8,300 over the quarter. During the same period, the bank’s deposits increased by 576 million euros, of which 113 million euros were deposits from financial intermediaries and 113 million euros were platform deposits. In the second quarter, an innovative banking service LHV Premium was also launched, combining everyday banking, insurance and travel services offering investment comfort. In addition, a new price list for the securities trading and investment account for pension entered into force in the second quarter, which reduced several investment-related fees by almost half.

LHV Pank’s loan portfolio increased by 190 million euros and the quality of the portfolio remained strong. Due to the resolution of one of the major problems with creditworthiness and the improved economic situation, the provisions made earlier were reduced by 4.1 million euros.

In the second quarter, LHV Pank issued covered bonds with a maturity of four years in the amount of 300 million euros, which were listed on the Dublin Stock Exchange for the purpose of diversifying financing sources. Covered bonds secured by Estonian home loans were sold to European institutional investors. 44 institutional investors participated in the offer and the offer was 2.5 times oversubscribed.

The volume of deposits and loans of LHV Bank operating in the United Kingdom continued to grow in the second quarter – the loan portfolio increased by 79 million euros to 569 million euros. At the same time, loans worth 204 million euros have been approved by the Credit Committee but not yet issued.

The deposits taken by LHV Bank increased by 202 million quarter-on-quarter and reached a record 1.02 billion euros. In the second quarter, the mobile bank of retail banking was launched, where the first 1,000 clients have opened an account and 17 million euros of new deposits have been received. LHV Bank earned a net profit of 0.1 million euros in quarter-on-quarter terms – lower profitability was due to higher marketing costs, conference participation fees, allocated costs and changes in the value of interest rate risk hedging contracts. In order to support the rapid growth of the loan portfolio, the share capital was increased by 12 million euros and subordinated bonds were issued in the amount of 12 million euros. As of the first half of the year, LHV Bank’s net income and net profit exceed strongly the financial plan.

LHV Kindlustus showed strong growth in the second quarter, when the insurance revenue increased by 78% and net profit by 62% compared to the previous quarter, but the result of the second quarter was slightly below the financial plan. The volume of insurance premiums across the market decreased significantly compared to the same quarter of the previous year. The results for the first half of the year are well above the financial forecast. As of the end of June, LHV Kindlustus had 176,000 clients and 278,000 valid insurance contracts.

The good rate of return shown by global financial markets in the second quarter was also reflected in LHV’s pension funds, which all offered a positive rate of return. The rates of return of LHV pension funds M, L and XL were 1.2%, 1.0% and 2.8%, respectively, in the quarter. The rate of return of the more conservative funds XS and S was 0.7% and 0.8%, respectively. Pensionifond Indeks increased by 3.0% and Pensionifond Roheline lost 4.4% in value. Net income of LHV Varahaldus remained largely the same as in the previous quarter and net profit increased. The number of second pillar clients making active monthly contributions was 110,000 by the end of the quarter.

As important information, it was disclosed that as of September 2, the green pension funds of LHV II and III pillar will cease operations, merge with other LHV funds and will be consolidated into LHV pension funds S and M, and the names of the II pension pillar funds will change. As a result of the changes, LHV clients will have the option to choose from four actively managed pension funds to grow their savings. Starting in September, LHV’s actively managed pension funds will be named Julge, Ettevõtlik, Tasakaalukas, and Rahulik.

As of the end of the half-year, LHV Group is well capitalised. AT1 bonds worth 50 million euros and unsecured bonds worth 60 million euros were issued in the second quarter. Moody’s Ratings raised the ratings for LHV Pank’s covered bond programme and covered bonds to the highest level, Aaa. The Moody’s Investors Service ratings agency left AS LHV Pank’s long-term deposits rating at A3 (with a positive outlook) and LHV Group’s long-term issuer rating at Baa3 (positive outlook).The ratings confirm LHV’s strong financial position and capitalisation and express the expectation of a strengthening of creditworthiness.

Comment by Madis Toomsalu, the Chairman of the Management Board at LHV Group:

“We are pleased that LHV has continued on a strong growth trajectory. Over the past year, our loan portfolio has grown by 1 billion euros, reaching 5 billion euros by the end of the half-year. This reflects increased investment confidence among Estonian companies, as well as the expansion of our UK loan book, which has now surpassed the 500 million euros mark. We’ve also seen a rise in demand for home loans and an overall increase in client activity. Several initiatives are underway to support continued growth going forward.”

To access the reports of AS LHV Group, please visit the website at https://investor.lhv.ee/aruanded.

In order to present the results of the quarter, LHV Group will organise an investor meeting via the Zoom webinar platform. The virtual investor meeting will take place before the market opens on 22 July at 9.00. The presentation will be in Estonian. We kindly ask you to register at the following address: https://lhvbank.zoom.us/webinar/register/WN_6RKaesfVT1qxJZ5BWiT4TA

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,100 people. As at the end of June, LHV Pank services are being used by 474,000 clients, the pension funds managed by LHV have 110,000 active clients, and LHV Kindlustus protects a total of 176,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

Investor Relations

Sten Hans Jakobsoo
Head of Investor Relations and Corporate Development
Email: stenhans.jakobsoo@lhv.ee

Communications

Paul Pihlak
Head of Investment Communications
Email: paul.pihlak@lhv.ee

Attachments

The MIL Network –

July 22, 2025

UAE Introduces Sugar-Based Tax on Sweetened Beverages to Promote Healthier Choices

Source: Government of India

Source: Government of India (4)

The United Arab Emirates (UAE) is set to implement a paradigm shift in its policy regarding excise tax on sugar-sweetened beverages (SSBs) from January 2026, announced the Ministry of Finance and Federal Tax Authority (FTA) .The new rule will shift from a flat 50% tax rate to a tiered volumetric model, where the tax per liter is directly linked to the sugar content per 100ml of a beverage. This move aims to reduce sugar consumption, promote healthier dietary habits, and combat lifestyle-related diseases such as obesity and Type 2 diabetes.

Under the current system, introduced in 2017 and expanded in 2019, all sweetened beverages—including carbonated drinks, energy drinks, and products with added sugars or sweeteners, are subject to a uniform 50% excise tax. The new tiered system will impose higher taxes on beverages with greater sugar content, incentivizing manufacturers to reformulate their products to lower sugar levels. “The updated mechanism encourages manufacturers to reduce added sugars and empowers consumers to make more informed dietary choices,” the Ministry of Finance stated.

Health experts have praised the initiative as a significant step toward addressing public health challenges in the UAE, where the prevalence of diabetes among adults is approximately 20.7%, according to 2024 statistics from the International Diabetes Federation. This policy is commendable in the fight against obesity, metabolic syndrome, and Type 2 diabetes.”The policy aligns with the UAE’s broader health strategy and sustainable development goals, developed in coordination with the Ministry of Health and Prevention.The UAE’s innovative approach to taxing sweetened beverages based on sugar content positions the country as a leader in using fiscal policy to drive public health outcomes, with potential ripple effects across the region.

July 22, 2025

MIL-OSI Europe: Anticipating Displacement: EUAA looking into Migration Trends in Ukraine

Source: European Asylum Support Office

As the Russian war of aggression on Ukraine continues and the situation in Ukraine remains volatile, the European Union Agency for Asylum (EUAA) has strengthened its capacity to combine near to real-time situational awareness, data collection in the field and forecasting. The aim is to go beyond reactive analysis and ensure Member States are equipped to manage not just today’s asylum-related migration flows, but tomorrow’s as well.

In July 2025, with no end to the conflict in Ukraine in sight, the fighting is going on with increasing intensity. In June, Ukraine’s Security Service launched “Operation Spiderweb,” targeting Russian strategic bombers, followed by a maritime drone strike that damaged the Kerch Bridge and drone attacks that forced the Russian authorities to temporarily close Moscow airports. Russia responded with intensified aerial attacks on Kyiv and other cities. Simultaneously, ceasefire talks in Türkiye produced no progress beyond a prisoner exchange. These developments reinforce the urgency of equipping EU countries with modern, mixed-method tools to anticipate and prepare for any potential renewed displacement, ensuring that Member States remain responsive in a volatile geopolitical environment.

A multifaceted approach to intelligence

The EUAA’s intelligence capability includes Human Intelligence (HUMINT) gathered through the EUAA’s Surveys with Arriving Migrants from Ukraine (SAM–UKR), a flexible tool used to collect testimonies from persons displaced by the Russian invasion who are currently in the EU+. It captures experiences, intentions and aspirations, which in turn allows the Agency to understand push factors, the scale of integration in host countries and possible return prospects.

Separately, Open-Source Intelligence (OSINT) enables the EUAA to monitor near to real-time conflict events and geopolitical developments that may trigger migration — including, for example, the Russian bombardment of Ukraine’s power infrastructure. These various types of qualitative insights are then combined with EUAA’s own quantitative data to produce short-term forecasts according to the needs of Member States and European policymakers.

Investing in cooperation with local partners

In Ukraine, the EUAA is collaborating with a Ukrainian public opinion company, Gradus Research, to gather real-time insights on migration intentions. The collaboration offers insights gathered within Ukraine, before displacements materialise at the EU external border. Gradus’ ability to deliver real-time assessments has enabled the EUAA to monitor changes in sentiment following key military and political events.

By systematically monitoring migration intentions and pull & push factors, we enable the EUAA and Member States to base their preparedness on real-time intelligence — supporting evidence-based planning in a fluid and high-stakes context. Our survey technology allows us to deliver results in real time, which is a crucial factor in a rapidly changing environment and the emergence of new and evolving risks for the population. Therefore, we don’t collect abstract migration sentiments (like a general desire to migrate at some point in the future), but rather capture real, current sentiments on the ground

Evgeniya BLYZNYUK Sociologist, CEO & Founder of Gradus Research

Protection in a Dynamic Environment

In 2025, the share of the population intending to leave Ukraine within the next six months remains at 13 % of respondents. Poland and Germany continue to be the most preferred destinations, primarily due to job opportunities, family ties, access to benefits and support (with a significant increase compared to the previous wave), and safety. Key push factors — such as threats to life and the risk of occupation — have remained stable since the beginning of 2025. Despite ongoing risks, including hostilities and economic concerns, 71 % of respondents plan to stay in Ukraine if the active phase of the war ends.

At the end of May 2025, around 4.4 million people were benefitting from temporary protection in the EU+. While Germany and Poland hosted the largest in absolute numbers, Czechia hosted the most beneficiaries per capita. These figures illustrate not only the scale of current protection efforts, but also the need for continued investment in preparedness — including intelligence-led, forward-looking tools that can anticipate renewed displacement, returns, or onward movement.

As Russian attacks on Ukraine continue, the Council has recently extended temporary protection for another year, until March 2027. At the same time, Ukrainians in Europe consider more permanent alternatives to temporary protection like applying for asylum. Clearly, understanding the views of displaced Ukrainians will play a crucial role for any successful transition. The EUAA has the tools, partnerships and expertise needed to inform policy makers, enabling them to navigate it.

Background

The EUAA’s intelligence-led activities are anchored in its legal mandate to gather and analyse information on root causes, migratory and refugee flows in support of early warning and Member State preparedness. They feed into scenario development, capacity planning, and contingency plans including regular updates to asylum trends, structured foresight exercises, and the integration of both traditional and non-traditional data sources. Thus, the EUAA supports Member States with agile, evidence-driven tools in the dynamic operational landscape of the ongoing war in Ukraine.

MIL OSI Europe News –

July 22, 2025

MIL-OSI: ICG Enterprise Trust announces realisation of Datasite

Source: GlobeNewswire (MIL-OSI)

22 July 2025

ICG Enterprise Trust announces realisation of Datasite, its fourth largest portfolio company

ICG Enterprise Trust plc (“ICGT”) is pleased to announce that it has fully realised its co-investment¹ in Datasite, a provider of software focused on virtual data rooms. At 31 January 2025, Datasite was ICGT’s fourth largest company exposure, accounting for 1.9% of the Portfolio value. The co-investment portion accounted for 1.6% of the Portfolio value.

As a result of the sale ICGT has received cash proceeds of $30 million (£22 million), representing a 3% premium to the valuation at Q1 FY26.

ICGT made an $18 million co-investment (£14 million) in Datasite alongside ICG Strategic Equity V and CapVest in 2024. The transaction has generated an attractive return, particularly given the short hold period².

¹Following this transaction, ICGT will retain a small stake in Datasite through its commitment to ICG Strategic Equity V. At 31 January 2025 this indirect exposure represented 0.3% of the Portfolio value.

²Does not necessarily reflect the expected future performance and should not be used to compare returns among multiple private equity funds.

Enquiries

Analyst / Investor enquiries:
Martin Li, Shareholder Relations, ICG	+44 (0) 20 3545 1816
Nathan Brown, Deutsche Numis	+44 (0) 20 7260 1426
David Harris, Cadarn Capital	+44 (0) 20 7019 9042

Media:
Clare Glynn, Corporate Communications, ICG	+44 (0) 20 3545 1395

Website:
www.icg-enterprise.co.uk

About ICG Enterprise Trust

ICG Enterprise Trust is a leading listed private equity investor focused on creating long-term compounding growth by delivering consistently strong returns through selectively investing in profitable, cash-generative private companies, primarily in Europe and the US.

We invest in companies directly as well as through funds managed by ICG and other leading managers who focus on creating long-term value and building sustainable growth through active management and strategic change.

We have a long track record of delivering strong returns through a flexible mandate and highly selective approach that strikes the right balance between concentration and diversification, risk and reward.

Disclaimer

This report may contain forward looking statements. These written materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption therefrom. The issuer has not and does not intend to register any securities under the US Securities Act of 1933, as amended, and does not intend to offer any securities to the public in the United States. No money, securities or other consideration from any person inside the United States is being solicited and, if sent in response to the information contained in these written materials, will not be accepted.

The MIL Network –

July 22, 2025

MIL-OSI: ICG Enterprise Trust announces realisation of Datasite

Source: GlobeNewswire (MIL-OSI)

22 July 2025

ICG Enterprise Trust announces realisation of Datasite, its fourth largest portfolio company

ICG Enterprise Trust plc (“ICGT”) is pleased to announce that it has fully realised its co-investment¹ in Datasite, a provider of software focused on virtual data rooms. At 31 January 2025, Datasite was ICGT’s fourth largest company exposure, accounting for 1.9% of the Portfolio value. The co-investment portion accounted for 1.6% of the Portfolio value.

As a result of the sale ICGT has received cash proceeds of $30 million (£22 million), representing a 3% premium to the valuation at Q1 FY26.

ICGT made an $18 million co-investment (£14 million) in Datasite alongside ICG Strategic Equity V and CapVest in 2024. The transaction has generated an attractive return, particularly given the short hold period².

¹Following this transaction, ICGT will retain a small stake in Datasite through its commitment to ICG Strategic Equity V. At 31 January 2025 this indirect exposure represented 0.3% of the Portfolio value.

²Does not necessarily reflect the expected future performance and should not be used to compare returns among multiple private equity funds.

Enquiries

Analyst / Investor enquiries:
Martin Li, Shareholder Relations, ICG	+44 (0) 20 3545 1816
Nathan Brown, Deutsche Numis	+44 (0) 20 7260 1426
David Harris, Cadarn Capital	+44 (0) 20 7019 9042

Media:
Clare Glynn, Corporate Communications, ICG	+44 (0) 20 3545 1395

Website:
www.icg-enterprise.co.uk

About ICG Enterprise Trust

ICG Enterprise Trust is a leading listed private equity investor focused on creating long-term compounding growth by delivering consistently strong returns through selectively investing in profitable, cash-generative private companies, primarily in Europe and the US.

We invest in companies directly as well as through funds managed by ICG and other leading managers who focus on creating long-term value and building sustainable growth through active management and strategic change.

We have a long track record of delivering strong returns through a flexible mandate and highly selective approach that strikes the right balance between concentration and diversification, risk and reward.

Disclaimer

This report may contain forward looking statements. These written materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption therefrom. The issuer has not and does not intend to register any securities under the US Securities Act of 1933, as amended, and does not intend to offer any securities to the public in the United States. No money, securities or other consideration from any person inside the United States is being solicited and, if sent in response to the information contained in these written materials, will not be accepted.

The MIL Network –

July 22, 2025

MIL-OSI: NBPE – Net Asset Value(s)

Source: GlobeNewswire (MIL-OSI)

THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

NBPE Announces June Monthly NAV Estimate

St, Peter Port, Guernsey, 22 July 2025

NB Private Equity Partners (NBPE), the $1.2bn¹, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 30 June 2025 monthly NAV estimate.

NAV Highlights (30 June 2025)

NAV per share was $27.42 (£20.01), a total return of 0.5% in the month
Total realisations of $68 million and $8 million of follow-on investments in the first half of 2025
$284 million of available liquidity at 30 June 2025
~51k shares repurchased (~$1 million) during June 2025 at a weighted average discount of 30% which was accretive to NAV by ~$0.01 per share. Year-to-date, NBPE has repurchased ~759k shares (~$15 million) at a weighted average discount of 29% which was accretive to NAV by ~$0.11 per share

As of 30 June 2025	Year to Date	One Year	3 years	5 years	10 years
NAV TR (USD)* Annualised	1.3%	3.6%	5.8% 1.9%	76.1% 12.0%	158.3% 10.0%
MSCI World TR (USD)* Annualised	9.3%	16.8%	68.0% 18.9%	101.9% 15.1%	189.9% 11.2%

Share price TR (GBP)* Annualised	(7.6%)	(6.9%)	10.4% 3.3%	91.6% 13.9%	185.1% 11.0%
FTSE All-Share TR (GBP)* Annualised	9.1%	11.2%	35.5% 10.7%	67.3% 10.8%	92.7% 6.8%

* All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns.

Portfolio Update to 30 June 2025

NAV performance during the month driven by:

0.7% NAV increase ($9 million) from changes in FX rates
0.1% NAV increase ($1 million) attributable to changes in prices of quoted holdings (which now constitute 6% of portfolio fair value)
Immaterial impact on NAV from additional private valuation information received during the month
0.2% NAV decrease ($3 million) attributable to expense accruals

$68 million of realisations in the first half of 2025

Of the $68 million received during the first half, over three-quarters of the proceeds are from full and partial sales / exits of private holdings; remaining realisations consisted of proceeds from the sales of quoted holdings and other partial realisations

$284 million of total liquidity at 30 June 2025

$74 million of cash and liquid investments with $210 million of undrawn credit line available

2025 Share Buybacks

~51k shares repurchased in June 2025 at a weighted average discount of 30%; buybacks were accretive to NAV by ~$0.01 per share
Year-to-date, NBPE has repurchased ~759k shares at a weighted average discount of 29% which were accretive to NAV by ~$0.11 per share

Portfolio Valuation

The fair value of NBPE’s portfolio as of 30 June 2025 was based on the following information:

6% of the portfolio was valued as of 30 June 2025
- 6% in public securities
94% of the portfolio was valued as of 31 March 2025
- 94% in private direct investments

For further information, please contact:

NBPE Investor Relations +44 (0) 20 3214 9002
Luke Mason NBPrivateMarketsIR@nb.com

Kaso Legg Communications +44 (0)20 3882 6644

Charles Gorman nbpe@kl-communications.com
Luke Dampier
Charlotte Francis

Supplementary Information (as at 30 June 2025)

Company Name	Vintage	Lead Sponsor	Sector	Fair Value ($m)	% of FV
Action	2020	3i	Consumer	86.6	6.9%
Osaic	2019	Reverence Capital	Financial Services	63.4	5.0%
Solenis	2021	Platinum Equity	Industrials	59.8	4.7%
BeyondTrust	2018	Francisco Partners	Technology / IT	47.7	3.8%
Monroe Engineering	2021	AEA Investors	Industrials	44.7	3.5%
Business Services Company*	2017	Not Disclosed	Business Services	40.2	3.2%
Branded Cities Network	2017	Shamrock Capital	Communications / Media	37.3	3.0%
True Potential	2022	Cinven	Financial Services	35.6	2.8%
Mariner	2024	Leonard Green & Partners	Financial Services	33.7	2.7%
FDH Aero	2024	Audax Group	Industrials	32.9	2.6%
Marquee Brands	2014	Neuberger Berman	Consumer	31.6	2.5%
GFL (NYSE: GFL)	2018	BC Partners	Business Services	30.5	2.4%
Auctane	2021	Thoma Bravo	Technology / IT	29.1	2.3%
Fortna	2017	THL	Industrials	28.7	2.3%
Staples	2017	Sycamore Partners	Business Services	27.7	2.2%
Viant	2018	JLL Partners	Healthcare	27.3	2.2%
Engineering	2020	NB Renaissance / Bain Capital	Technology / IT	27.2	2.2%
Stubhub	2020	Neuberger Berman	Consumer	26.4	2.1%
Agiliti	2019	THL	Healthcare	25.3	2.0%
Kroll	2020	Further Global / Stone Point	Financial Services	25.0	2.0%
Benecon	2024	TA Associates	Healthcare	24.7	2.0%
Solace Systems	2016	Bridge Growth Partners	Technology / IT	24.6	1.9%
Excelitas	2022	AEA Investors	Industrials	24.1	1.9%
Exact	2019	KKR	Technology / IT	24.0	1.9%
Constellation Automotive	2019	TDR Capital	Business Services	21.4	1.7%
CH Guenther	2021	Pritzker Private Capital	Consumer	21.2	1.7%
Tendam	2017	PAI	Consumer	20.0	1.6%
Addison Group	2021	Trilantic Capital Partners	Business Services	19.9	1.6%
Bylight	2017	Sagewind Partners	Technology / IT	19.9	1.6%
Real Page	2021	Thoma Bravo	Technology / IT	18.8	1.5%
Total Top 30 Investments				$979.2	77.5%

*Undisclosed company due to confidentiality provisions.

Geography	% of Portfolio
North America	76%
Europe	23%
Asia / Rest of World	1%
Total Portfolio	100%

Industry	% of Portfolio
Tech, Media & Telecom	23%
Consumer / E-commerce	22%
Industrials / Industrial Technology	17%
Financial Services	14%
Business Services	11%
Healthcare	8%
Other	3%
Energy	1%
Total Portfolio	100%

Vintage Year	% of Portfolio
2016 & Earlier	10%
2017	16%
2018	13%
2019	13%
2020	14%
2021	18%
2022	6%
2023	2%
2024	8%
Total Portfolio	100%

About NB Private Equity Partners Limited
NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

LEI number: 213800UJH93NH8IOFQ77

About Neuberger Berman
Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $538 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger’s investment philosophy is founded on active management, fundamental research and engaged ownership. The firm has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information, including www.nb.com/disclosure-global-communications for information on awards. Data as of June 30, 2025, unless stated otherwise.

This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

¹Based on net asset value.

Attachment

June 2025 NBPE Factsheet vF

The MIL Network –

July 22, 2025

MIL-Evening Report: South Australia’s algal bloom may shrink over winter – but this model suggests it will spread to new areas in summer

Source: The Conversation (Au and NZ) – By Jochen Kaempf, Associate Professor of Natural Sciences (Oceanography), Flinders University

South Australia is desperate for help to tackle an unprecedented harmful algal bloom that has decimated marine life up and down the coast. While the extent of the damage is still unknown, my preliminary research suggests there’s no end in sight. It may just get better over winter before it gets worse next summer.

The Karenia mikimotoi bloom first appeared in March on two surf beaches outside Gulf St Vincent, about an hour south of Adelaide. It has since spread, killing all kinds of marine organisms – from crabs and small fish to sharks and rays. Only the neighbouring Spencer Gulf, far west coast and southeast coasts have been spared. For now.

In preliminary research now undergoing peer review, I have predicted the bloom’s future spread using a new computer model. In the worst-case scenario, the harmful algal bloom would reach the Spencer Gulf and spread – from Port Lincoln to Whyalla and across to Port Pirie – next summer and autumn. That would be extremely bad news for the thriving seafood, aquaculture and tourism industries. They may need help to prepare.

Some help is on the way. Federal Environment Minister Murray Watt yesterday announced A$14 million in federal funding. SA Premier Peter Malinauskas convened an Emergency Management Cabinet Committee meeting today and signed off on a $28 million support package.

The worst-case scenario forecasts high concentrations of K. mikimotoi in both South Australian gulfs next April.
Jochen Kaempf

A rolling disaster

The algal bloom was first noticed when dozens of surfers and beachgoers on the southern coast of the Fleurieu Peninsula fell ill after exposure to seawater in March.

Soon, dangerous sea foam appeared. Then the killing began in earnest. Many marine species started washing up dead or dying.

The bloom began to spread. In mid-April, K. mikimotoi was detected in water samples from Edithburgh and Coobowie on the southeastern corner of Yorke Peninsula.

In early May, the Kangaroo Island Council announced the bloom had spread across the Investigator Strait affecting the island’s northern coastline.

Wild weather in June pushed the bloom through the Murray Mouth into the Coorong.

By July, the state government had detected K. mikimotoi along Adelaide’s metropolitan coastline. Videos of fish kills near the Ardrossan Jetty in the northern Gulf St Vincent also emerged.

So far, the bloom has not been detected in Spencer Gulf. But my modelling suggests it’s only a matter of time.

Predicting the future

I was the first to discover the seasonal upwelling of nutrients in several regions along SA’s southern coastal shelf. This nutrient source fuels the marine food chain. It’s a big part of the reason why the marine life in our Great Southern Australian Coastal Upwelling System is so diverse.

I also simulated the ocean currents in South Australian gulfs using computer models as early as 2009.

I have now developed a computer model to predict where the algae will spread next.

Preliminary results from this research have been submitted to the journal Continental Shelf Research and are being reviewed. But given the speed at which this situation is developing, it’s worth sharing a preprint of this manuscript.

My model matches what’s known about the early spread of the bloom. It began in the coastal waters of the southern Fleurieu Peninsula. It then invaded Investigator Strait, between the Yorke Peninsula and Kangaroo Island, before slowly spreading in a clockwise circulation across the wider Gulf St Vincent.

When the model is used to forecast how the algae bloom will evolve, the story becomes deeply concerning.

It predicts the algal bloom will weaken over this winter, as the growth rate will slow in cooler water. In my model, the algae had already invaded the lower Spencer Gulf in May 2025 but at very low concentrations.

Then, in the worst-case scenario of high growth rates and nothing stopping it, the model predicts the bloom will affect both gulfs – Gulf St Vincent and Spencer Gulf – and Investigator Strait, with severe conditions predicted for the coming summer.

A bloom in the Spencer Gulf could decimate stocks of Australian sardine in the lower gulf, and potentially also western king prawns and the giant Australian cuttlefish in the upper Spencer Gulf. Some research suggests algal growth may be limited in the hypersaline upper reaches of the gulfs, but the spread of the algae as far as Ardrossan indicates otherwise.

Under the best-case scenario, the algae’s natural predator, zooplankton, would eat more of the algae, suppressing future flare-ups. So there is some hope, but more research is needed to better understand how zooplankton could control these algae.

SA also needs to make continuous efforts to monitor K. mikimotoi concentrations. This includes analysis of water samples in both gulfs. It’s important to note satellite images only show the peak phase of the toxic algal bloom, and can be misleading as they also display other species including blooms of “good” algae.

Fortunately, the $28 million support package includes $8.5 million for early detection and monitoring of harmful algal bloom species. This will involve real-time sensors (buoys), satellite imagery and oceanographic modelling. A new $2 million national testing laboratory will check for toxins, while $3 million will be spent on a rapid assessment of fish stocks and fisheries.

But if the algae stick around, there may be little anyone can do to protect our marine environment.

Jochen Kaempf 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. South Australia’s algal bloom may shrink over winter – but this model suggests it will spread to new areas in summer – https://theconversation.com/south-australias-algal-bloom-may-shrink-over-winter-but-this-model-suggests-it-will-spread-to-new-areas-in-summer-261549

MIL OSI Analysis – EveningReport.nz –

July 22, 2025

MIL-OSI United Kingdom: Sizewell C gets green light with final investment decision

Source: United Kingdom – Executive Government & Departments

Press release

Sizewell C gets green light with final investment decision

Government agrees final investment decision to give Sizewell C nuclear plant the go-ahead.

Energy Secretary signs off on multi-billion-pound deal for Sizewell C, that will deliver clean power for the equivalent of six million homes and support 10,000 jobs at peak construction.
Government secures deal that will see Sizewell deliver electricity system savings of £2 billion a year on average once operational.
The government will become the largest shareholder, alongside private investors EDF, Centrica, La Caisse and Amber Infrastructure.
Project will be built for around 20 per cent less than virtual replica Hinkley Point C, as part of the government’s Plan for Change to kick-start economic growth and protect family finances.

Millions of working people will benefit from cheaper clean power, as the government agrees a landmark, multi-billion-pound deal to build Sizewell C – a major step forward in the delivery of a new ‘golden age’ of nuclear under the government’s Plan for Change.

The Energy Secretary has today (22 July) signed the final investment decision for Sizewell C, which will deliver clean power for the equivalent of six million homes and support 10,000 jobs once operational. The deal represents the country’s most significant public investment in clean, homegrown energy this century – in a major boost for energy security, jobs and economic growth.

The deal ends an era of dithering and delay to give Sizewell C the go-ahead, that will help secure Britain’s home-grown nuclear supply far beyond 2030. It marks a major step in the government’s clean energy superpower mission, which is about replacing the UK’s dependence on fossil fuel markets with clean homegrown power that the country controls, to bring down bills for good and protect family finances.

The plant will deliver cheaper clean electricity for generations of families for at least six decades. Analysis shows the project could create savings of £2 billion a year across the future low-carbon electricity system once operational – leading to cheaper power for consumers.

The project will also help to kick-start economic growth and get Britain building. At peak construction, Sizewell C will support 10,000 jobs directly employed in the project, and thousands more in the nationwide supply chain, as well as creating 1,500 apprenticeships. Seventy per cent of the value of construction is set to be awarded to British businesses – Sizewell C Ltd anticipates it will have 3,500 UK companies in its supply chain across the entire country.

Energy Secretary Ed Miliband said:

It is time to do big things and build big projects in this country again- and today we announce an investment that will provide clean, homegrown power to millions of homes for generations to come.

This government is making the investment needed to deliver a new golden age of nuclear, so we can end delays and free us from the ravages of the global fossil fuel markets to bring bills down for good.

The government has confirmed it will take an initial 44.9 per cent stake to become the single biggest equity shareholder in the project – meaning the British people will benefit from the government’s investment.

The new Sizewell C shareholders include La Caisse with 20 per cent, Centrica with 15 per cent, and Amber Infrastructure with an initial 7.6 per cent. This comes alongside French energy giant EDF taking a 12.5 per cent take in the project, set out earlier this month, as well as a proposed £5 billion debt guarantee from France’s export credit agency, Bpifrance Assurance Export, to back the company’s commercial bank loans.

Alongside this investment, the National Wealth Fund – the government’s principal investor and policy bank – is making its first investment in nuclear energy. It will provide the majority of the project’s debt finance, working alongside Bpifrance Assurance Export, to help support the building of the power plant.

Chancellor of the Exchequer Rachel Reeves said:

La Caisse, Centrica and Amber’s multi-billion pound investment is a powerful endorsement of the UK as the best place to do business and as a global hub for nuclear energy.

Delivering next generation, publicly-owned clean power is vital to our energy security and growth, which is why we backed Sizewell C.  This investment will create thousands of good quality jobs and boost the local economy as we deliver on our Plan for Change.

Julia Pyke and Nigel Cann, Joint Managing Directors of Sizewell C, said:

We’re delighted to welcome new investors alongside Government and EDF who, like our suppliers, have strong incentives to keep costs under control and ensure we deliver Sizewell C successfully for consumers and taxpayers

By investing in Sizewell C, they are laying the foundations for a more secure, cleaner and more affordable energy system. Because 70% of our construction spend will be in the UK, with a £4.4bn commitment to the east of England, they will also help to create thousands of great jobs and new opportunities for people and businesses up and down the country.

We are determined to deliver this major infrastructure differently, and to make sure this is a project Britain can be proud of.

The investment deal builds on lessons learnt from the construction of Hinkley Point C to provide a funding model that spreads the around £38 billion cost of constructing Sizewell C between consumers, taxpayers and private investors. This represents a saving of around 20 per cent compared with Hinkley Point C and demonstrates the value of building a virtual replica project.

For the first time, the British people will be co-owners of a nuclear power plant alongside experienced private sector partners – with consumers to benefit from the government’s investment. This will ensure the impact on consumer bills is limited to an average of around £1 per month over the duration of Sizewell C’s construction, with the nuclear plant to deliver cheaper clean power for decades to come once operational.

Despite the UK’s strong nuclear legacy, including opening the world’s first commercial nuclear power station in the 1950s, no new nuclear plant has opened in the UK since 1995, with all of the existing fleet except Sizewell B likely to be phased out by the early 2030s.  

Sizewell C was one of eight sites identified in 2009 by then-Energy Secretary Ed Miliband as a potential site for new nuclear. However, the project was not fully funded in the 14 years that followed under subsequent governments.  

The government’s nuclear programme is now the most ambitious for a generation. Once small modular reactors and Sizewell C come online in the 2030s, combined with Hinkley Point C, this will deliver more new nuclear to the grid than over the previous half century combined.

Recently, the government also set out next steps for small modular reactors in the UK and last month selected Rolls-Royce SMR as the preferred bidder to build first reactors of this kind in the country. Following this, the Prime Minister signed a new agreement with Czech Prime Minister Fiala last week that will see the two countries work more closely on small modular reactors to seize export opportunities and support high-skilled jobs.

John Flint, National Wealth Fund CEO, said:

Nuclear energy is a key component on the path to deliver the Government’s growth and clean energy missions, and our financing for Sizewell C will help provide decades of clean, reliable electricity for millions of homes across the country.

We have a critical role to play in solving financing problems across a broad waterfront of relevant sectors and Treasury has recognised that today by providing the NWF with additional capital required to enable our lending to Sizewell C. As the government’s flagship investor and policy bank, it is a privilege to be able to play such a significant role in a project of such national importance.

Gavin Tait, Chief Executive Officer, Amber Infrastructure Group, a Boyd Watterson Global Company, investment adviser to International Public Partnerships Limited, said:

We have worked in partnership with the UK Government to adapt the way a construction project of Sizewell C’s scale and importance can be financed to attract the long-term investment of institutional investors and retail savers. INPP has helped finance new infrastructure in the UK since 2006, and Sizewell C is a landmark example of how the public and private sectors can invest together to strengthen national energy security and support future economic growth.

Chris O’Shea, Centrica Group Chief Executive, said:

The UK needs more reliable, affordable, zero carbon electricity, and Sizewell C will be critical to supporting the country’s energy system for many decades to come. That’s why I’m delighted to be announcing this milestone investment which will see Centrica commit £1.3 billion for a 15% equity stake in the project, and deepens our long-standing involvement in the UK nuclear industry. This isn’t just an investment in a new power station – it’s an investment in Britain’s energy independence, our net zero journey, and thousands of high-quality jobs across the country.

Sizewell C is a compelling investment for our shareholders and the country as a whole, and I look forward to working with our world-class partners, EDF, La Caisse, Amber Infrastructure Group and the UK government, to make the project a great success.

Simone Rossi, CEO of EDF in the UK said:

EDF welcomes the government’s announcement that it has delivered on its commitment to take a final investment decision on the Sizewell C project.

Alongside Hinkley Point C, the project will help drive economic growth, strengthen energy security and lower bills over the long term.

The confirmation of the private investment is very positive and reflects the growing attraction of the role of nuclear power in the energy transition. It could also pave the way for the financing of future large nuclear projects in the UK.

Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at La Caisse said:

Our commitment to invest in Sizewell C reflects La Caisse’s constructive capital approach, working to deliver optimal financial performance for our clients alongside broader economic and societal progress.

La Caisse has a strong track record of bringing private sector expertise alongside governments and industrial players to invest in complex, regulated infrastructure where value-for-money for consumers is key. Sizewell C is a positive development for UK consumers, as it is expected to provide long-term reliable baseload power and low carbon energy to more than 6 million homes across the UK, while contributing to the creation of 10,000 new jobs at peak construction and thousands more in the nationwide supply chain.

We’re proud to support the UK Government in delivering this landmark project, advancing the country’s energy security and economic growth ambitions. Our investment demonstrates our confidence in the UK market – our largest destination outside North America – and aligns with our commitment to the energy transition and decarbonization, enabled by our long-term capital and active ownership.

Ofgem CEO Jonathan Brearley said:

Ofgem welcomes the government’s decision to move forwards with the Sizewell C project. New nuclear power stations such as this have a key role to play in enhancing Great Britain’s energy security with reliable domestically generated clean power.

Ofgem has been working closely with the government to develop the new regulatory framework to help drive investment in nuclear energy and deliver the best deal for consumers.

Neil McDermott, Chief Executive of LCCC, said:

Sizewell C is a pivotal project in the transition to a clean, secure energy system. It will deliver reliable low carbon power for decades to come, while supporting jobs and investment across the country.

LCCC is proud to support this milestone through its role as the revenue collection counterparty. Our independent role ensures funds are managed fairly and transparently, protecting value for consumers and enabling long-term investor confidence in low carbon infrastructure.

Notes to editors:

Sizewell C has already signed £330 million in contracts with local companies and will boost supply chains across the UK with 70% of contracts predicted to go to 3,500 British suppliers – supporting new jobs in construction, welding, and hospitality.
The government has published a subsidy scheme for the Final Investment Decision in Sizewell C. This scheme covers the government’s equity and debt investment in the project, as well as the value of consumer levies from the RAB delivery model – a Government Support Package to protect investors from high-impact low-probability risks, and other guarantees.
The Sizewell C project is consolidated to the government’s balance sheet, meaning that all investment from the government and new investors is on the balance sheet.
The total equity and debt finance made available exceeds the target construction cost of around £38 billion (2024 prices), this acts as a safeguard for taxpayers in case of overruns and is standard for a project of this size and complexity. The project supply chain is strongly incentivised to keep costs down and investors will lose potential revenue if there are overruns, reducing risk for taxpayers.
According to our Value for Money assessment SZC could reduce the cost of a low-carbon electricity system by around £2 billion per year on average, once operational.
Urenco recently confirmed a 15-year deal with EDF to produce fuel for nuclear power stations. The multi-billion-euro contract, with significant value for the UK, will support Urenco UK’s workforce of more than 1,400 people and support the company’s important contribution to UK economic growth, which represented more than £256 million in 2023. 
French engineering company Assystem has also set out plans to double its nuclear workforce in the UK, creating 1,000 new engineering, digital and management jobs by 2030 across 10 UK sites, including in Sunderland, Blackburn, Derby, Bristol and London.
The government is providing the National Wealth Fund with additional capital to facilitate this lending to Sizewell C, separate to the existing £27.8bn which will continue to be invested across the NWF’s priority sectors. For National Wealth Fund queries, please contact press@nationalwealthfund.org.uk

Published 22 July 2025

MIL OSI United Kingdom –

July 22, 2025

MIL-OSI New Zealand: UAE deal passes, unlocking $500 billion market

Source: New Zealand Government

The NZ-UAE Comprehensive Economic Partnership Agreement (CEPA) legislation has passed into law today, clearing the way for Kiwi exporters to tap into a $500 billion market that imports 90 per cent of its food, Agriculture, Trade and Investment Minister Todd McClay announced.

“The NZ-UAE CEPA delivers real benefits for New Zealand exporters, lowering costs, increasing access, and securing a stronger presence in the Middle East,” Mr McClay says.

This is the highest-quality, and fastest, agreement negotiated by New Zealand that will immediately remove tariffs on 98.5 per cent of New Zealand’s exports upon entry to force, rising to 99 per cent in three years.

“This high-quality trade agreement builds on New Zealand’s strengths. UAE consumers are actively seeking safe, fresh products from around the world and are willing to pay more for them. This agreement gives New Zealand exporters an opportunity to lead in this competitive market,” Mr McClay says.

Two-way trade between New Zealand and the UAE was worth $1.35 billion last year, and CEPA will accelerate growth by reducing red tape, boosting services trade, and supporting investment links.

“Trade agreements are about opening doors and levelling the playing field for New Zealand exporters,” Mr McClay says.

“The CEPA is another step toward achieving the Government’s goal of doubling the value of exports in 10 years. Growing our trade relationships helps boost the economy, lift incomes, and provide the public services Kiwis deserve.”

The CEPA will enter into force following ratification procedures by both parties.

MIL OSI New Zealand News –

July 22, 2025

MIL-OSI USA: Cortez Masto, Bipartisan Delegation Meet with Canadian Prime Minister, Discuss Critical U.S.-Canada Trade Partnership

US Senate News:

Source: United States Senator for Nevada Cortez Masto

On a bipartisan trip to Ottawa, Senator Cortez Masto highlighted the harm President Trump’s trade war with Canada is having on Nevada’s travel and tourism economy

Washington, D.C. – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) returned from a bipartisan trip to Canada with Senators Ron Wyden (D-Ore.), Lisa Murkowski (R-Alaska), and Maggie Hassan (D-N.H.). While there, they met with Canadian Prime Minister Mark Carney to support the resolution of unnecessary trade conflicts between the United States and Canada, which are raising costs for American families and hurting Nevada’s travel and tourism industries.

“Canada is one of America’s closest trade partners and allies, and in Nevada, we have a special connection with our neighbors to the north,” said Senator Cortez Masto. “Every year, well over a million Canadians visit the Silver State. Despite the chaos of the Trump presidency, I will continue to fight to ensure American workers are treated fairly, while strengthening our ties with Canada to bolster our tourism economy and promote American national security. We can do both.”

In 2024, Canada was Nevada’s most important foreign market for travel, and 1.49 million Canadian visitors traveled to the state, primarily to Las Vegas. Since President Trump took office, however, the relationship between the United States and Canada has declined, threatening this vital travel and tourism relationship. The airlines with direct flights from Canada to Las Vegas have shown significant passenger declines this year, including a decrease of 64 percent for Flair, 34.6 percent for WestJet, and 22 percent for Air Canada. Overall, visitation from Canada to Las Vegas is down 14.5 percent this year.

The Senators also met with Foreign Minister Anita Anand, Finance Minister François-Philippe Champagne, Minister of Industry Melanie Joly and Canada-U.S. Trade Minister Dominic LeBlanc. The members raised a number of trade, tourism and economic issues, the importance of partnering on national security and cybersecurity, and on working together to combat fentanyl trafficking.

Senator Cortez Masto has continued to push the Trump Administration to address the impacts of Trump’s tariffs on working families and Nevada small businesses. During a Senate Finance Committee hearing, Cortez Masto pressed U.S. Trade Representative Greer about the impacts of President Trump’s blanket tariffs on Nevadans, particularly those employed in the tourism and hospitality industry. The Senator introduced the Tariff Transparency Act to require the U.S. International Trade Commission to publicly investigate how Donald Trump’s proposed tariffs on imports from Mexico and Canada would impact the American people.

MIL OSI USA News –

July 22, 2025

MIL-OSI: LHV Group unaudited financial results for Q2 and 6 months of 2025

Source: GlobeNewswire (MIL-OSI)

In Q2 of 2025, LHV Group was able to earn higher net profit and increase business volumes against the background of lower interest rates. The loan portfolio of LHV Group reached 5 billion euros.

In Q2 2025, LHV Group earned a net profit of 30.8 million euros, which was 1.6 million euros more than in the previous quarter (+6% increase). The return on equity attributable to the shareholders of the Group was 17.4% in Q2.

All subsidiaries of the Group were profitable in the quarter. LHV Pank earned a net profit of 29.7 million euros, LHV Bank Ltd 0.1 million euros, LHV Varahaldus 0.5 million euros and LHV Kindlustus 1.1 million euros.

On a consolidated basis, LHV Group earned 73.9 million euros in revenue in Q1 2025, i.e. 7% less than in the previous quarter and 14% less than a year ago. Of the revenue of Q2 of this year, net interest income accounted for 57.6 million euros, and net fee and commission income for 15.6 million euros of total net income. Expenditure totalled 40.5 million euros, being 8% more than in the previous quarter and 11% more than a year ago. Due to the improvement of the macroeconomic situation, the previous provisions were undervalued in the amount of 4.2 million euros in the second quarter, which finally had a positive effect at the level of net profit.

As at the end of June, LHV Group consolidated assets amounted to 9.38 billion euros, which was 10% more than in the previous quarter and 28% more than in the same period last year. The consolidated loan portfolio increased by 269 million euros or 6% to 5.0 billion euros over the quarter (the loan portfolio increased by 1.1 billion euros or 28% year-on-year). Consolidated deposits of LHV Group increased by 760 million euros, i.e. by 12%, to 7.36 billion euros. The volume of funds managed by LHV increased by 3.7 million euros, to 1.56 billion euros. The number of payments made by clients who are financial intermediaries was 19.9 million in the second quarter, which was slightly less than in the previous quarter.

LHV Group’s consolidated net revenue for the 6 months of 2025 amounted to 153.3 million euros, which is 16.5 million euros or 10% less compared to the same period last year. Expenditure totalled 78.1 million euros, which was 7.8 million euros or 11% more. The Group’s 6-month consolidated net profit was 59.9 million euros, being a decrease of 19.4 million euros, or 24%, compared to the previous year. In six months, LHV Pank earned a net profit of 54.9 million euros, LHV Bank Ltd 2.3 million euros, LHV Varahaldus 0.6 million euros and LHV Kindlustus 1.7 million euros. LHV Group’s ROE for the first half of the year was 17.0%.

Based on the first half of the year, LHV Group outperforms the financial forecast at the level of net income by 2.0 million euros and at the level of net profit by 2.3 million euros.

Income statement, EUR Th	Q2 2025	Q1 2025	Q2 2024 adjusted
Net interest income	57,643	62,010	70,424
Net fee and commission income	15,579	14,071	14,352
Net financial income	-380	2,747	-37
Net insurance income	1,065	597	421
Other operating income and expense	0	-4	638
Total net income	73,907	79,421	85,798
Staff costs	-22,901	-22,655	-20,420
Office expenses	-679	-659	-874
IT costs	-4,017	-3,576	-3,267
Marketing expenses	-1,526	-1,258	-796
Other operating expenses	-11,387	-9,394	-10,741
Total expenses	-40,510	–37,542	–36,098
Operating profit	33,397	41,879	49,700
Profit before allowances	33,397	41,879	49,700
Allowances	4,152	-5,667	-5,043
Income tax expenses	-6,784	-7,052	-6,071
Net profit	30,765	29,160	38,586
Minority holding	716	592	300
Shareholders’ share of profit of parent company	30,049	28,568	38,286

Net earnings per share, EUR	0.09	0.09	0.12
Diluted earnings per share, EUR	0.09	0.09	0.12



Balance sheet, EUR Th	June 2025	March 2025	June 2024
Cash and due from banks	3,867,487	3,279,271	3,217,448
Financial assets	454,979	442,463	157,131
Loans to clients	5,038,379	4,774,970	3,925,877
Loan impairment reserve	-39,734	-45,629	-35,333
Receivables from clients	16,626	9,439	15,380
Other assets	46,058	47,771	49,220
Total assets	9,383,795	8,508,285	7,329,723
Demand deposits	4,669,435	4,189,062	3,659,675
Term deposits	2,694,906	2,415,430	2,124,254
Loans received	1,037,347	936,215	735,281
Due to clients and loans received	8,401,688	7,540,707	6,519,211
Accruals and other liabilities	105,692	163,690	100,709
Subordinated loans	161,155	126,247	107,521
Total liabilities	8,668,535	7,830,644	6,727,441
Owners’ equity	715,260	677,641	602,282
incl. minority holding	7,850	7,134	7,694
Total liabilities and owner’s equity	9,383,795	8,508,285	7,329,723