Category: France

  • MIL-OSI Economics: Welcome to IADC’s 2025 Executive Committee!

    Source: International Association of Drilling Contractors – IADC

    Headline: Welcome to IADC’s 2025 Executive Committee!

    KEVIN NEVEU, CHAIR

    Precision Drilling Corporation

    Kevin Neveu is President, Chief Executive Officer and a Director of Precision Drilling Corporation and has held these positions since joining the company in 2007. Mr. Neveu has 43 years of experience in the oilfield services sector holding various technical, marketing, and management positions over his career. Mr. Neveu holds a Bachelor of Science degree in Mechanical Engineering and is a graduate of the University of Alberta and is a registered Professional Engineer in the province of Alberta. He has also completed the Harvard Advanced Management Program in Boston, Massachusetts.

    RODDIE MACKENZIE, VICE CHAIR

    Transocean

    Named to his current position in February 2022, Mr. Mackenzie is responsible for identifying innovative technologies that create demonstrable value for Transocean’s customers and differentiate Transocean from its competitors in addition to leading Transocean’s Marketing organization. Mr. Mackenzie served previously as Senior Vice President, Marketing, Innovation and Industry Relations; Vice President, Marketing and Contracts; Managing Director, Business Development and Strategic Accounts, and as a Marketing Director with increasing roles of responsibility in the United States, France, and Dubai. He brings over 20 years of industry experience and prior to his time in Marketing, Mr. Mackenzie served in various operational and project roles around the globe, starting his career at Transocean as a rig-based engineer in 1997. He has worked on all manner of drilling rigs in Algeria, Nigeria, Cameroon, Angola, Brazil, and the US Gulf of Mexico.

    Mr. Mackenzie currently serves as Vice President for Offshore Division of the International Association of Drilling Contractors and on various committees for the Offshore Energy Center.

    Mr. Mackenzie graduated from the Harvard Business School Advanced Management Program in 2016 and received his bachelor’s degree from the University of Strathclyde in Civil Engineering with Environmental Studies in 1997.

    BRAD JAMES, IMMEDIATE PAST CHAIR

    Enterprise Offshore Drilling

    Mr. James has served as founding President, CEO and Board Member of Enterprise Offshore Drilling LLC since 2016. He previously served as Sr. Vice President – Marketing of Hercules Offshore from 2006 through 2016 and was responsible for managing worldwide marketing activity for Hercules drilling divisions. Prior to that he held various leadership roles at Transocean Offshore (including R&B Falcon and Cliffs Drilling), was founding President of Field Drilling Company and Vice President of Southland Drilling. He currently serves on the IADC Executive Committee and is a board member of IADC Drillers PAC and is a former Chairman of the IADC Houston Chapter. Mr. James obtained a Bachelor of Business Administration degree from Southwest Texas State University in 1981.

    JENNIFER YEUNG, SECRETARY/TREASURER

    Noble Corporation

    Ms. Yeung was named Vice President, Chief Accounting Officer and Controller of Noble in November 2023. Prior to joining Noble, she served at Ernst & Young LLP, an accounting and professional services firm, in various roles of increasing responsibility since January 2007. Most recently, Ms. Yeung served as Audit Managing Director from October 2020 through September 2023, and as Audit Senior Manager from July 2014 through October 2020, serving clients across a range of industries including offshore drilling.

    Ms. Yeung is a certified public accountant and received a Bachelor of Accountancy and a Bachelor of Business Administration, Finance from Loyola University.

    LEE WOMBLE, DIVISION VP DRILLING SERVICES

    SLB

    Lee Womble is Vice President and Global Accounts Director for SLB with global responsibility for drilling contractor accounts over all SLB divisions and basins.

    He joined Cameron Iron Works in 1988 as a Product Design Engineer after receiving his Bachelor of Science degree in Mechanical Engineering from the University of Texas at Austin. Lee received his registered Professional Engineer license from the State of Texas in 1993 and obtained his first patent in 1994. He has since managed engineering, repair operations, manufacturing, field service and sales.

    Mr. Womble has since held numerous positions throughout his 36-year career such as Design Engineer, Repair and Sales Mgr., Regional Manager, Director and now Vice President since 2007. He has lived in locations such as the US, Saudi Arabia, Egypt, Indonesia, and Malaysia. Lee has served on committees for API, AADE, IADC and The Joint Industry Task Force. He is currently focused on help SLB lead in technology, performance, and customer centricity.

    GENE STAHL, DIVISION VP NORTH AMERICA ONSHORE

    Precision Drilling Corporation

    Gene Stahl was appointed as President, North American Drilling in 2023 and previously held the position of Chief Marketing Officer since 2019. Since joining Precision Drilling in 1993, Mr. Stahl has progressed his way through the organization holding several positions with increasing responsibility, including Contracts, Investor Relations, Engineering, Manufacturing, Rig Construction, Procurement, Field Training and Development, and Health, Safety and Environment (HSE). Mr. Stahl holds a Bachelor of Arts degree in Economics from the University of Calgary and is a graduate of the Harvard Business School, Advanced Management Program.

    JON RICHARDS, DIVISION VP OFFSHORE

    Noble Corporation

    Jon Richards currently serves as Vice President Operations for Noble Corporation. He previously served as Senior Vice President of Worldwide Operations for Diamond Offshore. Mr. Richards joined Diamond Offshore in 1997 and has over 27 years of experience in the offshore drilling industry.

    Jon started his career as an Operations Development Trainee with Diamond and has since held various leadership roles and responsibilities managing operations in the United States, United Kingdom, West Africa, and Brazil. Jon holds a degree in Business Management from Texas Tech University and participates in various roles as a member of the IADC. In his free time, Jon enjoys spending time outdoors with his family and volunteering with youth sports.

    JIM NOWOTNY, DIVISION VP INTERNATIONAL ONSHORE

    Helmerich & Payne

    Jim Nowotny is the Vice President International and Offshore Business Development at Helmerich & Payne.  He has extensive domestic and international leadership experience in multiple areas of the offshore and land drilling industry, including marketing and business development, commercial and technical contracts, operations, manufacturing, and engineering.  He has worked in the energy industry since 1995.

    Prior to joining Helmerich & Payne, he worked for an international oil field equipment manufacturer.  There he was responsible for four manufacturing business units within Canada and the USA.  He oversaw all aspects of business operations, including the manufacturing, engineering, and business development groups. Jim also worked for over 16 years in various roles for Atwood Oceanics, an international offshore drilling contractor.  He worked in increasing roles of responsibility in the areas of engineering, operations, marketing, and business development.

    Jim has a Bachelor of Science degree in mechanical engineering from Texas A&M University and has completed several executive education courses at Columbia Business School, Harvard Law School and Kellogg School of Management at Northwestern University.

    MIL OSI Economics

  • MIL-OSI Economics: How real-world businesses are transforming with AI – with 50 new stories

    Source: Microsoft

    Headline: How real-world businesses are transforming with AI – with 50 new stories

    Updated February 5, 2025: The post contains 50 new customer stories, which appear at the beginning of each section of customer lists. The post will be updated regularly with new stories.

    One of the highlights of my career has always been connecting with customers and partners across industries to learn how they are using technology to drive their businesses forward. In the past 30 years, we’ve seen four major platform shifts, from client server to internet and the web to mobile and cloud to now — the next major platform shift to AI.  

    As today’s platform shift to AI continues to gain momentum, Microsoft is working to understand just how organizations can drive lasting business value. We recently commissioned a study with IDC, The Business Opportunity of AI, to uncover new insights around business value and help guide organizations on their journey of AI transformation. The study found that for every $1 organizations invest in generative AI, they’re realizing an average of $3.70 in return — and uncovered insights about the future potential of AI to reshape business processes and drive change across industries.

    Check out the top 5 AI trends to watch from IDC and Microsoft

    Today, more than 85% of the Fortune 500 are using Microsoft AI solutions to shape their future. In working with organizations large and small, across every industry and geography, we’ve seen that most transformation initiatives are designed to achieve one of four business outcomes:  

    1. Enriching employee experiences: Using AI to streamline or automate repetitive, mundane tasks can allow your employees to dive into more complex, creative and ultimately more valuable work.
    2. Reinventing customer engagement: AI can create more personalized, tailored customer experiences, delighting your target audiences while lightening the load for employees.
    3. Reshaping business processes: Virtually any business process can be reimagined with AI, from marketing to supply chain operations to finance, and AI is even allowing organizations to go beyond process optimization and discover exciting new growth opportunities.
    4. Bending the curve on innovation: AI is revolutionizing innovation by speeding up creative processes and product development, reducing the time to market and allowing companies to differentiate in an often crowded field.

    In this blog, we’ve collected more than 300 of our favorite real-life examples of how organizations are embracing Microsoft’s proven AI capabilities to drive impact and shape today’s platform shift to AI. Today, we’ve added new stories of customers using our AI capabilities at the beginning of each section. We’ll regularly update this story with more. We hope you find an example or two that can inspire your own transformation journey.

    Enriching employee experiences

    Generative AI is truly transforming employee productivity and wellbeing. Our customers tell us that by automating repetitive, mundane tasks, employees are freed up to dive into more complex and creative work. This shift not only makes the work environment more stimulating but also boosts job satisfaction. It sparks innovation, provides actionable insights for better decision-making and supports personalized training and development opportunities, all contributing to a better work-life balance. Customers around the world have reported significant improvements in employee productivity with these AI solutions:

    New Stories:

    1. Acentra Health created MedScribe using Azure OpenAI Service. The solution has saved 11,000 nursing hours and nearly $800,000. It also helped each nurse process 20 to 30 letters daily, while achieving a 99% approval rate for MedScribe-generated letters.
    2. Brisbane Catholic Education provides Microsoft 365 Copilot to 12,500 educators, and uses Microsoft Copilot Studio to create a generative AI tool to help educators integrate Catholic traditions and values into the classroom.
    3. Crediclub saves 96% per month in auditing expenses and analyzes 150 meetings per hour with Azure AI, freeing up time for 800 sales advisors and 150 branch managers to interact directly with customers.
    4. eClinicalWorks developed a tool using Azure AI services and Azure AI Document Intelligence to help healthcare workers scan, sort and match thousands of faxes each year to match the faxed data with current patient files.
    5. Education Authority of Northern Ireland (EANI) introduced Microsoft 365 Copilot to reduce admin work, allowing teachers to focus on students. The Microsoft partnership ensures secure and ethical AI use, while teacher training focuses on prompt writing and effective tool adoption.
    6. Ma’aden uses Microsoft 365 Copilot to enhance productivity, saving up to 2,200 hours monthly. Tasks like drafting emails, creating documents and data analysis have become more efficient, helping Ma’aden achieve its growth goals.
    7. Marketing org mci group uses Microsoft 365 Copilot to enhance the use of AI and other technological advances to boost employee efficiency.
    8. Michelin deployed Microsoft 365 Copilot and a generative AI in-house chatbot based on Azure OpenAI Service called “Aurora” designed to help employees optimize work and team performance, boosting productivity tenfold.
    9. Raiffeisen Bank International built its own ChatGPT using Azure OpenAI Service to automate repetitive tasks like documenting intelligence and more rapidly summarize legal, regulation and banking documents.
    10. Sanabil Investments deployed Microsoft 365 Copilot to help employees reduce the time spent on manual everyday tasks that diverted focus from more strategic and valuable work. Within two months, approximately 70% of employees regularly used Copilot.
    11. Sensei rolled out Microsoft 365 to reduce the number of internal apps and better connect systems for easier collaboration, and is using Microsoft 365 Copilot to increase efficiency.
    12. Sikshana Foundation is working with Microsoft Research India to introduce an AI copilot for teachers that shortens preparation time for lessons from an hour or more to just minutes.
    13. The University of Hong Kong adopted Microsoft 365 Copilot to enhance productivity by automating administrative tasks and providing intelligent assistance, allowing faculty to focus more on teaching.

    1. Accenture and Avanade launched a Copilot business transformation practice, supported by Microsoft, and co-invested in new capabilities, solutions and training to help organizations securely and responsibly reinvent their business functions with generative and agentic AI and Copilot technologies.
    2. Access Holdings Plc adopted Microsoft 365 Copilot, integrating generative AI into daily tools and, as a result, writing code now takes two hours instead of eight, chatbots launch in 10 days instead of three months and presentations are prepared in 45 minutes instead of six hours.
    3. Adobe is connecting Adobe Experience Cloud workflows and insights with Microsoft 365 Copilot to deliver generative-AI powered capabilities that enable marketers to increase collaboration, efficiency and creativity.
    4. Amadeus empowers its teams to focus their time and skills on value-added tasks with Microsoft 365 Copilot, by summarizing email threads, chat or transcripts and summing up information from diverse sources.
    5. ANZ has invested in Microsoft 365 Copilot, GitHub Copilot and Copilot in Microsoft Edge to boost productivity and innovation across its workforce.
    6. Asahi Europe & International (AEI) has adopted Microsoft 365 Copilot, saving employees potentially 15% of time previously spent on administrative tasks.
    7. AXA developed AXA Secure GPT, a platform powered by Azure OpenAI Service that empowers employees to leverage the power of generative AI while targeting the highest level of data safety and responsible use of the tool.
    8. Axon Enterprise developed a new AI tool with Azure OpenAI Service called Draft One, resulting in an 82% decrease in time spent on reports, which freed up officers to engage more with their community.
    9. Aztec Group enhanced productivity and client experience by trialing Microsoft 365 Copilot with 300 staff, uncovering “unlimited” use cases and plans for a wider rollout.
    10. Bader Sultan & Bros. Co. W.L.L. implemented Microsoft 365 Copilot to enhance employee productivity and speed up customer response times.
    11. Bancolombia is using GitHub Copilot to empower its technical team, achieving a 30% increase in code generation, boosting automated application changes to an average of 18,000 per year, with a rate of 42 productive daily deployments.
    12. Bank of Queensland Group is using Microsoft 365 Copilot, with 70% of users saving two-and-a-half to five hours per week.
    13. BaptistCare Community Services is using Microsoft 365 Copilot to save employees time as they navigate workforce shortage challenges allowing them to focus more on the people they care for.
    14. Barnsley Council was recognized as “Double Council of the Year in 2023” for its implementation of Microsoft 365 Copilot, which modernized operations and reduced administrative tasks, leading to improved job satisfaction and increased creativity.
    15. BlackRock purchased more than 24,000 Microsoft 365 Copilot licenses spanning all employees, functions and locations, helping improve the Copilot experience, including codeveloping new features and functions.
    16. British Heart Foundation is testing Microsoft 365 Copilot and in its initial test, users estimate that Microsoft 365 Copilot could save them up to 30 minutes per day.
    17. Buckinghamshire Council deployed Microsoft 365 Copilot with staff reporting productivity improvements, quality enhancements and time savings which are enabling the different teams to do more with less.
    18. Campari Group adopted Microsoft 365 Copilot to help employees integrate it into their workflow, resulting in time savings of about two hours a week from the support of routine activities such as email management, meeting preparation, content creation and skill acquisition.
    19. Canadian Tire Corporation moved its data from on-premises systems to Microsoft Azure and built digital assistants using Azure OpenAI Service, and now more than 3,000 corporate employees save 30 to 60 minutes a day using its ChatCTC digital assistant.
    20. Capita is using GitHub Copilot for productivity improvements as well as improvements in developer satisfaction, recruitment and retention.
    21. Cathay leverages Microsoft 365 Copilot to streamline meetings and manage information more effectively, reducing time-consuming tasks and fostering creativity.
    22. CDW used Microsoft 365 Copilot to improve work quality for 88% of users, enabling 77% to complete tasks faster, and increasing productivity for 85% of users.
    23. Chi Mei Medical Center is lightening workloads for doctors, nurses and pharmacists with a generative AI assistant built on Azure OpenAI Service.
    24. Clifford Chance adopted Microsoft 365 Copilot to streamline tasks, automate processes and enhance collaboration. Lawyers use it to draft and manage emails and ensure compliance, allowing them to focus on complex legal work and improve productivity.
    25. DLA Piper chose Microsoft 365 Copilot to boost productivity for operational and administrative teams, saving up to 36 hours weekly on content generation and data analysis.
    26. Eaton adopted Microsoft 365 Copilot to automate the creation of 1,000 standard operating procedures to streamline customer service operations and improve data access across teams, cutting creation time from one hour to 10 minutes.
    27. E.ON is focused on Germany’s energy transition, leveraging Microsoft 365 Copilot to manage the complex grid in real-time, increasing productivity and efficiency for its workforce.
    28. Enerijisa Uretim has adopted Microsoft 365 Copilot to streamline meeting summaries, reformat documents and compile reports, enabling employees to concentrate on more strategic and fulfilling activities instead of spending six hours in meetings.
    29. EPAM is deploying Microsoft 365 Copilot to consolidate information and generate content and documents.
    30. Farm Credit Canada implemented Microsoft 365 Copilot which resulted in time savings on routine tasks for 78% of users, with 30% saving 30 to 60 minutes per week and 35% saving over an hour per week, allowing employees to focus on more value-added tasks.
    31. Finastra used Microsoft 365 Copilot to automate tasks, enhance content creation, improve analytics and personalize customer interactions, with employees citing a 20%-50% time savings.
    32. Four Agency Worldwide increased employee productivity using Microsoft 365 Copilot to generate ideas for creative work and support administrative-heavy processes, data analysis and report generation, allowing staff to focus on outreach and less time doing paperwork.
    33. Goodwill of Orange County developed an AI-powered app using Azure AI capabilities to help more people, including those with developmental, intellectual and physical disabilities, work in unfilled e-commerce positions.
    34. Harvey uses Azure OpenAI to simplify routine tasks across hundreds of law firms and legal teams, with one corporate lawyer saying he saved 10 hours of work per week.
    35. Honeywell employees are saving 92 minutes per week — that’s 74 hours a year! Disclaimer: Statistics are from an internal Honeywell survey of 5,000 employees where 611 employees responded.
    36. Insight employees using Copilot are seeing four hours of productivity gained per week from data summarization and content creation.
    37. Joos uses Microsoft 365 Copilot to grow its brand with worldwide collaboration by streamlining meetings, optimizing presentations and improving communications.
    38. Kantar is harnessing the power of Microsoft 365 Copilot by reducing costly, time-consuming IT processes and boosting productivity for employees.
    39. KMS Lighthouse enhanced its knowledge management platform with Microsoft Teams and Dynamics 365 integration, enabling users to leverage KMS Lighthouse without having to switch applications. And with Azure OpenAI Service, companies can create relevant content more quickly within the KMS Lighthouse application.
    40. KPMG Australia is using Microsoft Azure OpenAI Service, Azure AI Search and Microsoft Copilot 365 to perform advanced text analysis of dozens of client source documents to identify full or partial compliance, or noncompliance, in a fraction of the time required for manual assessments.
    41. LGT is launching Microsoft Copilot LGT to improve efficiency, showing users save an average of an hour a week even in the pilot phase.
    42. Localiza&Co, a leader in the mobility industry in Latin America, implemented Microsoft 365 Copilot to automate processes and improve efficiency, and reduced 8.3 working hours per employee per month.
    43. Lotte Hotels & Resorts has been creating a new work culture that allows employees to work more efficiently and focus on the nature of the work by adopting Microsoft Power Platform for automation.
    44. MAIRE is leveraging Microsoft 365 Copilot to automate routine tasks, saving over 800 working hours per month, freeing up engineers and professionals for strategic activities while supporting MAIRE’s green energy transition by reducing their carbon footprint.
    45. McDonald’s China chose Microsoft Azure AI, GitHub Copilot and Azure AI Search to transform its operations, resulting in a significant increase in AI adoption, consumption and retention from 2,000 to 30,000 employee transactions monthly.
    46. McKnight Foundation adopted Microsoft 365 Copilot for all staff, saving time, increasing productivity and freeing space to focus on strategic priorities.
    47. Medigold Health uses Azure OpenAI Service to significantly reduce the time that clinicians spend writing reports during their consultation and administrative time.
    48. Morula Health is using Microsoft 365 Copilot to enhance productivity, streamline medical writing tasks and ensure data security, ultimately improving efficiency and client satisfaction.
    49. Motor Oil Group is achieving remarkable efficiency gains by integrating Microsoft 365 Copilot into its workflows, with staff spending minutes on tasks that used to take weeks.
    50. Nagel-Group uses Azure OpenAI Service to help employees quickly access information which saves time, creates efficiency and transparency and leads to higher-quality answers overall.
    51. National Australia Bank is leveraging Microsoft 365 Copilot for daily productivity and data analysis and insights and Microsoft Copilot for Security to quickly analyze millions of security event logs and allow engineers to focus on more important areas.
    52. NFL Players Association integrated Azure AI Services and Azure App Service into their video review process, reducing review time by up to 73%, significantly increasing efficiency and enhancing player safety through consistent rule enforcement.
    53. O2 Czech Republic boosts productivity and streamlines meetings with Microsoft 365 Copilot, revolutionizing how information is shared and making automation a part of daily work.
    54. Onepoint developed a secure conversational agent based on Azure OpenAI which delivers productivity gains of between 10% and 15% across all business lines.
    55. Orange Group has over 40 use cases with Azure OpenAI Service and GitHub Copilot across business functions to support employees in their day-to-day tasks, enabling them to concentrate on higher value-added activities.
    56. Oxford University Hospitals NHS Foundation Trust implemented Microsoft 365 Copilot to improve staff report productivity by saving one to two hours a week, or simple formatting tasks down to a matter of seconds, enabling more resources to deliver frontline services.
    57. PA Consulting transformed its sales operations with Microsoft 365 Copilot, so its people can invest more time on the activities that have the biggest impact for clients and maximize the strategic value they provide.
    58. Petrobras used Azure OpenAI Service to create ChatPetrobras, which is streamlining workflows, reducing manual tasks and summarizing reports for its 110,000 employees.
    59. Petrochemical Industries Company automates work processes to save time with Microsoft 365 Copilot from weeks to days, hours to seconds.
    60. PIMCO built ChatGWM with Azure AI Studio, a comprehensive platform that provides the ability to ask questions, receive responses and verify answers all in one place, so teams can spend more time engaging clients and having deeper conversations.
    61. PKSHA Technology is optimizing their time on critical work by increasing efficiency in meeting preparations, data analytics and ideation with the help of Microsoft 365 Copilot.
    62. Providence has collaborated with Nuance and Microsoft to accelerate development and adoption of generative AI-powered applications, helping improve care quality and access, and reduce physician’s administrative workloads.
    63. RTI International adopted Microsoft 365 Copilot to gain productivity wherever possible, allowing staff to focus on their areas of expertise, delivering even better science-backed solutions for clients.
    64. SACE, an Italian finance and insurance firm, is using Microsoft 365 Copilot and Viva to boost productivity and unlock employee potential while enhancing overall well-being — and productivity improvement data from the first nine months of implementation shows a 23% increase.
    65. Sandvik Coromant is using Microsoft Copilot for Sales to drive efficiency and accuracy, shaving at least one minute off each transaction, allowing sellers and account managers to focus their expertise on responding to customers’ needs with analysis, creativity and adaptability.
    66. Sasfin Bank built a solution on Microsoft Azure that centralized 20,000 documents to analyze contract clauses and provide real-time snapshots, moving guesswork into data-driven decision-making.
    67. Scottish Water implemented Microsoft 365 Copilot reducing mundane tasks to a minimum, and thus freeing up time for employees to work on the more meaningful tasks.
    68. Shriners Children’s developed an AI platform allowing clinicians to easily and securely navigate patient data in a singular location, enhancing patient care, and improving the efficiency of their healthcare services.
    69. Siemens is leveraging Azure OpenAI Service to improve efficiency, cut downtime and address labor shortages.
    70. Softchoice employees are experiencing firsthand how Microsoft 365 Copilot can transform daily workflows, realizing productivity gains of 97% reduction in time spent summarizing technical meetings and up to 70% less time spent on content creation.
    71. Syensqo utilized Microsoft’s Azure OpenAI Service to develop a custom AI chatbot in three months, which improved their internal data management, decision-making and overall efficiency.
    72. Teladoc Health uses Microsoft 365 Copilot to revolutionize its telehealth operations, automating routine tasks, boosting efficiency and increasing productivity.
    73. Telstra developed two cutting-edge generative AI tools based on Microsoft Azure OpenAI Service: 90% of employees are using the One Sentence Summary tool which resulted in 20% less follow-up customer contact and 84% of customer service agents using the Ask Telstra solution.
    74. Topsoe achieved 85% AI adoption among office employees in seven months, significantly enhancing productivity and business processes.
    75. Torfaen County Borough Council utilized Microsoft 365 Copilot to streamline back-office processes, resulting in significant time savings and enhanced productivity for both business and children’s services teams, with further rollouts planned.
    76. Trace3 leveraged Microsoft 365 Copilot to streamline and enhance processes across the business and with clients, such as reducing the time it takes HR recruiting managers to respond to applicants within a couple of days instead of several weeks.
    77. Unilever is reinventing their marketing process with Copilot, saving time on briefing tasks, automatically pulling in relevant market data, content and insights to accelerate campaign launches.
    78. Uniper SE implemented Microsoft 365 Copilot to reduce time spent on manual and repetitive tasks, and help workers focus on more pressing work, such as developing enhanced solutions to speed up the energy transition.
    79. Unum Group built a custom AI application to search 1.3 terabytes of data with 95% accuracy using Azure OpenAI Service.
    80. Virgin Atlantic adopted Microsoft 365 Copilot and GitHub Copilot and is seeing real business benefits, including productivity improvements, enabling new ways of working.
    81. Visier built a generative AI assistant that leverages Azure AI and Azure OpenAI Services to deliver workforce analytics and actionable insights for more than 50,000 customers.
    82. Virtual Dental Care developed an AI application Smart Scan that leverages Microsoft Azure to reduce paperwork for mobile dental clinics in schools by 75% and frees dentists to devote more time to patient care.
    83. Zakladni Skola As Hlavkova adopted Microsoft 365 Copilot and saw a 60% improvement in handling administrative documents, decreased lesson preparation from hours to few minutes, increased inclusivity and enhanced communication with students and parents.

    Reinventing customer engagement

    We’ve seen great examples of how generative AI can automate content creation, ensuring there’s fresh and engaging materials ready to go. It personalizes customer experiences by crunching the numbers, boosting conversion rates. It makes operations smoother, helping teams launch campaigns faster. Plus, it drives innovation, crafting experiences that delight customers while lightening the load for staff. Embracing generative AI is key for organizations wanting to reinvent customer engagements, stay ahead of the game and drive both innovation and efficiency.

    New Stories:

    1. Aditya Birla Capital built the SimpliFi chatbot on Microsoft Azure to simplify financial services information and offers through intelligent search and proactive nudging with minimum latency and high scalability.
    2. AIA is using Copilot in Dynamics 365 Customer Service to allow customer service representatives to handle more cases in less time by automating time-consuming tasks like drafting customer emails and summarizing lengthy chats and case histories.
    3. Aydem Energy and Microsoft partner Softtech used Azure OpenAI Service to create an AI assistant for WhatsApp, providing customers with real-time updates and handling meter readings, bill checks and claims.
    4. The City of Buenos Aires developed Boti with ChatGPT using Azure OpenAI Service to manage multiple service channels and personalize key services for residents and tourists. The chatbot centralizes data, enables natural language interactions and scales to handle high demands, managing 2 million queries per month without human intervention, alleviating the operational burden by 50%, improving the citizen experience and increasing efficiency.
    5. de Alliantie built a generative AI chatbot using Azure OpenAI to digest information in their online knowledge base so staff can get accurate answers in seconds. Another Azure AI-based solution transcribes and summarizes calls, then categorizes them by theme.
    6. Haceb created a virtual technical support assistant with generative AI, helping on-the-ground technicians troubleshoot, diagnose and resolve product issues faster and more efficiently.
    7. Lloyds Banking Group developed the Branch Translation App using Microsoft Power Apps and Azure AI services with a goal to improve communication with non-English speaking customers and the innovation enhanced service delivery, receiving positive feedback from employees and customers alike.
    8. Staffbase provides its clients with Staffbase Companion, which helps it enhance internal communication with quick content generation, summarization, translation and future capabilities — and remain confident in data protection.
    9. Tekion built Automative Retail Cloud, a unified, cloud-native platform that uses generative AI to analyze communications, extract insights and provide customer-specific recommendations for sales agents.
    10. Welcome Account created a banking application with a conversational agent based on Azure OpenAI Service, in order to help people manage their finances and administrative procedures. This multilingual agent already assists no less than a thousand refugees on a daily basis.
    11. UBS is using Azure AI solutions, including Azure AI Search and Azure OpenAI Service, to power “Smart Assistants” that streamline content access and provide real-time information to Client Advisors, boosting efficiency and client engagement.
    12. Virbe enables businesses to interact with customers through AI-powered avatars, and with Azure AI services like Azure OpenAI Service and Azure AI Search, Virbe enhanced its AI avatars and simplified engagement with enterprise customers — and customers are seeing up to a 10x increase in leads.

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    1. Absa has adopted Microsoft Copilot to streamline various business processes, saving several hours on administrative tasks each day.
    2. Adobe leverages Microsoft Azure to streamline the customer experience, harnessing the power of the connected cloud services and creating a synergy that drives AI transformation across industries.
    3. Acentra Health developed Medscribe, a web application that uses Azure OpenAI Service to generate draft letters in a secure, HIPPA-compliant enclave that responds to customer appeals for healthcare services within 24 hours, reducing the time spent on each appeal letter by 50%.
    4. Air India leveraged Azure OpenAI Service to develop a virtual assistant that has handled nearly 4 million customer queries with full automation, significantly enhancing customer experience and avoiding millions of dollars in customer support costs.
    5. Alaska Airlines is using Microsoft Azure, Microsoft Defender, and GitHub to ensure its passengers have a seamless journey from ticket purchase to baggage pickup and started leveraging Azure OpenAI Service to unlock more business value for its customer care and contact centers.
    6. Ally Financial is using Azure OpenAI Service to reduce manual tasks for its customer service associates, freeing up time for them to engage with customers.
    7. BMW Group optimizes the customer experience connecting 13 million active users to their vehicles with the MyBMW app on Azure, which supports 450 million daily requests and 3.2TB data processing.
    8. Boyner has tripled its e-commerce performance using Microsoft Azure, seeing a rise in customer satisfaction, engagement, conversion rate and revenue.
    9. Bradesco Bank integrated Microsoft Azure to its virtual assistant, BIA, resulting in reduced response time from days to hours, improving operational efficiency and client satisfaction.
    10. Capgemini Mexico integrated GitHub Copilot to support scalable AI implementations which has led to improved customer experiences and increased efficiency.
    11. Capitec Bank uses Azure OpenAI Service and Microsoft 365 Copilot, enabling their AI-powered chatbot to assist customer service consultants in accessing product information more efficiently, saving significant time for employees each week.
    12. Cdiscount is leveraging GitHub Copilot and Azure OpenAI Service to enhance developer efficiency, optimize product sheet categorization and improve customer satisfaction.
    13. Cemex used Azure OpenAI Service to launch Technical Xpert, an AI tool used by sales agents to provide instant access to comprehensive product and customer solution information, significantly reducing search time by 80%.
    14. Chanel elevated their client experience and improved employee efficiency by leveraging Microsoft Fabric and Azure OpenAI Service for real-time translations and quality monitoring.
    15. City of Burlington created two AI-powered solutions: MyFiles system using Microsoft Power Platform for building permits, and CoBy, a 24/7 customer support assistant using Microsoft Copilot Studio.
    16. City of Madrid created an AI virtual assistant with Microsoft Azure OpenAI Service offering tourists accurate, real-time information and personalized responses in 95-plus languages.
    17. Cognizant is making performance management more effective and meaningful with Microsoft Azure Machine Learning to help clients across industries envision, build, and run innovative digital enterprises.
    18. Coles Group has leveraged Microsoft Azure to enhance its digital presence and improve customer engagement, rolling out new applications to its stores six times faster without disrupting workloads.
    19. Commercial Bank of Dubai used Microsoft Azure to upgrade its application infrastructure, improving transaction security and speed so individual customers can now open an account and start banking in about two minutes.
    20. Cradle Fund, dedicated to nurturing startups in Malaysia, introduced an AI-driven chatbot to boost user interaction and increase public engagement. User engagement quadrupled while resolution time was reduced from two days to a few clicks. Cradle also decreased customer service costs by 35%, increased international interactions by 40% and increased daily average visits 10-fold.
    21. Doctolib, a leading eHealth company in France, leverages Microsoft technology to develop an AI-powered medical assistant, integrating both Azure OpenAI Service and Mistral Large on Azure.
    22. Docusign used Azure AI to develop its Intelligent Agreement Management (IAM) platform, which supports millions of workflows, reducing contract processing times and enhancing customer satisfaction with advanced AI-powered analytics.
    23. Dubai Electricity and Water Authority has significantly improved productivity and customer satisfaction by integrating multiple Microsoft AI solutions, reducing task completion time from days to hours and achieving a 98% customer happiness rate.
    24. Elcome uses Microsoft 365 Copilot to improve the customer experience, reducing response times from 24 hours to eight hours.
    25. elunic developed shopfloor.GPT based on Azure OpenAI leading to increased productivity for customers saving 15 minutes per request.
    26. Estée Lauder Companies is leveraging Azure OpenAI Service to create closer consumer connections and increase speed to market with local relevancy.
    27. First National Bank (FNB) is using Microsoft Copilot for Sales to help bankers create professional, thoughtful emails in 13 native South African languages, to enhance customer interactions, streamline communications and reinforce its commitment to innovation and customer service.
    28. Flora Food Group migrated to Microsoft Fabric to offer more detailed and timely insights to its customers, enhancing service delivery and customer satisfaction.
    29. Groupama deployed a virtual assistant using Azure OpenAI Service that delivers reliable, verified and verifiable information, and boasts an 80% success rate.
    30. Holland America Line developed a virtual agent using Microsoft Copilot Studio that acts as a digital concierge on their website to support new and existing customers and travel advisors, which has achieved a strong resolution rate and is currently handling thousands of conversations per week.
    31. International University of Applied Sciences (IU) adopted Azure OpenAI Service to revolutionize learning with a personalized study assistant that can interact with each student just like a human would.
    32. Investec is using Microsoft 365 Copilot for Sales to enhance the bank’s client relationships, estimating saving approximately 200 hours annually ultimately boosting sales productivity and delivering personalized, seamless customer experience.
    33. Jato Dynamics used Azure OpenAI Service to automate content generation, helping dealerships save approximately 32 hours each month.
    34. Kenya Red Cross worked with Pathways Technologies to develop a mental health chatbot in Azure AI.
    35. LALIGA is delivering a seamless fan experience and AI insights with Azure Arc, using AI in Azure for optimizing match scheduling and other key operations.
    36. Legrand used Azure OpenAI Service to reduce the time to generate product data by 60% and improve customer support interactions with fast, accurate information.
    37. Linum is using Microsoft Azure to train their text-to-video models faster and more efficiently without losing performance or wasting resources.
    38. Lumen Technologies is redefining customer success and sales processes through the strategic use of Microsoft 365 Copilot, enhancing productivity, sales and customer service in the global communications sector.
    39. Mars Science & Diagnostics used the Azure AI catalog to build generative AI apps to enhance accuracy and extract data insights quickly, helping pets with critical, undiagnosed conditions receive the care they require faster.
    40. McKinsey & Company is creating an agent to reduce client onboarding process by reducing lead time by 90% and administrative work by 30%.
    41. Meesho leveraged Microsoft’s Azure OpenAI Service and GitHub Copilot to enhance customer service and software development, resulting in a 25% increase in customer satisfaction scores and 40% more traffic on customer service queries.
    42. Milpark Education integrated Microsoft Copilot and Copilot Studio and in just four months, improved efficiency and accuracy of student support, decreasing the average resolution time by 50% and escalation time by more than 30%.
    43. National Basketball Association is using Azure OpenAI Service to speed up the time to market, helping fans connect with the league with personalized, localized insights to enhance the fan experience.
    44. NC Fusion chose a comprehensive Microsoft solution to make marketing engagement activities easier and accurately target the best audience segments.
    45. Medgate, a telehealth subsidiary of Otto Group developed a medical Copilot powered by Azure OpenAI which summarizes consultations, supports triage and provides real-time translations.
    46. Orbital Witness embraced the use of large language models (LLMs) in Azure OpenAI to build its innovative AI Agent application, Orbital Copilot, which can save legal teams 70 percent of the time it takes to conduct property diligence work.
    47. Pacific Gas & Electric built a chatbot using Microsoft Copilot Studio that saves $1.1 million annually on helpdesk support.
    48. Parloa took a “voice-first” approach and created an enterprise-grade AI Agent Management platform to automate customer interactions across phone, chat and messaging apps.
    49. Pockyt is using GitHub Copilot and anticipates a 500% increase in productivity in the medium to long term as they continue adapting AI and fine-tuning their software development life cycle.
    50. South Australia Department for Education launched an AI-powered educational chatbot to help safeguard students from harmful content while introducing responsible AI to the classrooms.
    51. Sync Labs is using Microsoft Azure to create AI-driven solutions that have led to a remarkable 30x increase in revenue and a 100x expansion of their customer base.
    52. Syndigo is using Azure to accelerate digital commerce for its customers by more than 40% and expand its customer base.
    53. Telkomsel created a virtual assistant with Azure OpenAI Service, resulting in a leap in customer self-service interactions from 19% to 45%, and call volume dropped from 8,000 calls to 1,000 calls a day.
    54. Torrens University chose to use Azure OpenAI to uplift its online learning experience, saving 20,000 hours and $2.4 million in time and resources.
    55. Trusting Social integrated Microsoft Azure services to launch AI-driven agents that are changing how banks function and transforming their customer’s banking experience.
    56. University of California, Berkeley used Azure OpenAI Service to deploy a custom AI chatbot that supports student learning and helps students with complex coursework.
    57. University of Sydney created a self-serve AI platform powered by Azure OpenAI Service, to enable faculty to build custom chatbots for enhancing student onboarding, feedback, career simulation and more.
    58. Van Lanschot Kempen is using Microsoft 365 Copilot to reduce the time needed for daily tasks, freeing up time to invest in that crucial personal connection.
    59. Virgin Money built an award-winning virtual assistant using Copilot Studio to help build customers’ confidence in their digital products and services.
    60. VOCALLS automates over 50 million interactions per year, resulting in a 78% reduction in average handling time aside from a 120% increase in answered calls.
    61. Vodafone Group is leveraging Microsoft’s AI solutions, including Azure AI Studio, OpenAI Service, Copilot and AI Search, to achieve a 70% resolution rate for customer inquiries through digital channels and reduce call times by at least one minute.
    62. Walmart is using Azure OpenAI Service to deliver a helpful and intuitive browsing experience for customers designed to serve up a curated list of the personalized items a shopper is looking for.
    63. Weights & Biases created a platform which runs on Microsoft Azure that allows developers to keep records, log successes and failures and automate manual tasks.
    64. World2Meet is providing better customer service and operations with a new virtual assistant powered by Microsoft Azure.
    65. Xavier College is modernizing its student information systems on Microsoft Dynamics 365 and Microsoft Azure to unlock powerful insights, fostering innovation and data-driven decision making.
    66. Zavarovalnica Triglav implemented Microsoft Dynamics 365 and Azure OpenAI Service to streamline its operations with automated responses and smart rerouting of customer enquiries.
    67. Zurich Insurance Group used Azure OpenAI Service to develop advanced AI applications that led to more accurate and efficient risk assessment evaluations, accelerating the underwriting process, reducing turnaround times and increasing customer satisfaction.

    Reshaping business process

    Transforming operations is another way generative AI is encouraging innovation and improving efficiency across various business functions. In marketing, it can create personalized content to truly engage different audiences. For supply chain management, it can predict market trends so companies can optimize their inventory levels. Human resources departments can speed up the hiring process, while financial services can use it for fraud detection and risk assessments. With generative AI, companies are not just refining their current processes, they’re also discovering exciting new growth opportunities.

    New Stories:

    1. Bank of Queensland is modernizing its operations with Azure, Microsoft 365 and Microsoft 365 Copilot, using AI to optimize business processes such as creating marketing content, building reports and plans and drafting HR content.
    2. Document360 created an AI-powered knowledge base and service platform for companies to create, manage and publish online documentation, including product manuals, SOPs and wikis.
    3. Eduvos is simplifying the student enrollment experience with Microsoft Azure and Dynamics 365, reducing the time from 90 days to nearly instantaneous and associated costs by 90%.
    4. Emirates Global Aluminum (EGA) uses Azure Local to support its digital manufacturing platform, including support for safety-critical applications that use AI. Through its hybrid Azure environment, EGA has achieved 10 to 13 times faster AI response time and 86% cost savings for AI image and video use cases.
    5. Hellenic Cadastre built a system that reads and categorizes property contracts, applies legal rules and provides assessments for approval using Azure OpenAI Service. Today, property transaction assessments take less than 10 minutes instead of hours, reducing costs from 15 euros to 0.11 euros per assessment. The system also enhanced property owners’ legal security and boosted the Greek economy by enabling transactions to be completed sooner.
    6. Startup legal-i is using AI to analyze unstructured data and help expensive insurance specialists make better decisions faster — speeding up healthcare and insurance processes and improving the accuracy of outcomes.
    7. Publishing company SHUEISHA Inc. is using Microsoft Security Copilot to enable faster incident response, boosting the confidence and effectiveness of cybersecurity personnel.
    8. thyssencrupp is using the Siemens Industrial Copilot, built on Azure OpenAI Service, to address a skilled labor gap while revolutionizing how it programs and operates machinery.
    9. U.S. AutoForce implemented Dynamics 365 Supply Chain Management to centralize warehouse data, connect processes and improve operational efficiency while using Microsoft Copilot for Finance to automate monthly reconciliations.

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    1. ABB Group integrated Azure OpenAI Service into their Genix Copilot platform enabling customers to achieve up to 30% savings in operations and maintenance, 20% improvement in energy and emission optimization and an 80% reduction in service calls.
    2. Accelleron used Microsoft Power Platform to support numerous business applications and simplify processes for service agents and employees, resulting in the onboard of new agents in 30 minutes, compared to two days for other solutions.
    3. Accenture developed an AI-powered financial advisor that leverages RISE with SAP on Microsoft Azure to enhance their infrastructure and integrate financial data.
    4. Atomicwork leverages Azure OpenAI to bring together three power capabilities: a conversational assistant, a modern service management system and a workflow automation platform.
    5. Blink Ops fully embraced generative AI to build the world’s first Security Automation Copilot with more than 8,000 automated workflows to help any Security/IT task through prompts.
    6. Chalhoub Group is using Microsoft Fabric to modernize its data analytics and streamline its data sources into one platform, increasing agility, enhancing analytics and accelerating processes.
    7. Cineplex is developing innovative automation solutions for finance, guest services and other departments, saving the company over 30,000 hours a year in manual processing time.
    8. ClearBank moved its services to Microsoft Azure to gain scalability and efficiency, pushing out 183% more monthly system releases, gaining both scalability and efficiency.
    9. Danske Statsbaner increases productivity up to 30% with help from Microsoft AI solutions.
    10. Dentsu implemented Microsoft Azure AI Foundry and Azure OpenAI Service to build a predictive analytics copilot that supports media insights, cutting analysis time by 80% and overall time to insight by 90%, reducing analysis costs.
    11. Dow implemented Microsoft 365 Copilot to empower teams with AI-driven insights and streamline essential workflows by automating tasks across departments, saving millions of dollars on shipping operations in the first year.
    12. Eastman implemented Microsoft Copilot for Security realizing the benefits of accelerated upskilling, step-by-step guidance for response and faster threat remediation.
    13. Fast Shop migrated to Microsoft Azure creating a self-service culture of access to data, eliminating delays, reducing costs and increasing leadership satisfaction with data while providing more agility in reporting.
    14. Florida Crystals adopted a value-added solution across Microsoft products including Microsoft 365 Copilot to reduce telecom expenses and automate industrial process controls.
    15. GHD is reinventing the RFP process in construction and engineering with Microsoft 365 Copilot.
    16. GovDash is a SaaS platform that leverages artificial intelligence to streamline the entire business development life cycle for government contracting companies using Azure OpenAI.
    17. Grupo Bimbo is deploying Microsoft’s industrial AI technologies to modernize its manufacturing processes, optimizing production and reducing downtime, driving significant cost savings, and empowering global innovation.
    18. Insight Canada implemented Microsoft 365 Copilot to streamline business operations, with 93% of users realizing productivity gains in functions including sales, finance and human resources.
    19. Intesa Sanpaolo Group enhanced its cybersecurity with AI-enabled Microsoft Sentinel and Microsoft Copilot for Security, resulting in faster threat detection, increased productivity and reduced storage costs.
    20. Kaya deployed a custom implementation of Microsoft Dynamics 365 and Power BI to modernize its supply chain, leading to enhanced visibility, improved planning and streamlined inter-department operations.
    21. Lenovo leveraged Dynamics 365 Customer Service to rapidly manage customer inquiries by streamlining repetitive tasks, boosted agent productivity by 15%, reduced handling time by 20% and reached record-high customer satisfaction.
    22. Lionbridge Technologies, LLC is using Microsoft Azure and Azure OpenAI Service to accelerate its delivery times and improve quality, reducing project turnaround times by up to 30%.
    23. LTIMindtree integrated Microsoft Copilot for Security, offering automated incident response, integrated threat intelligence and advanced threat analysis.
    24. Mania de Churrasco used Microsoft Azure, Power Platform and Microsoft 365 to achieve high efficiency, security and scalability in its operations, in addition to improving its data intelligence, which indirectly participated in a 20% increase in sales year on year.
    25. National Bank of Greece built an Azure-powered Document AI solution to transform its document processing, improving the bank’s accuracy to 90%.
    26. Nest Bank has revolutionized its operations by integrating Microsoft 365 Copilot and Azure OpenAI Service, resulting in doubled sales and increased daily transactions from 60,000 to 80,000, showcasing the transformative impact of generative AI in the financial sector.
    27. Network Rail modernized their data analytics solution with Microsoft Azure, helping engineers understand data 50% faster than before and improve efficiency, passenger experiences and safety — all while saving costs.
    28. Nsure developed an AI-powered agent that uses Copilot Studio and Power Automate to reduce manual processing time by 60% while also reducing associated costs by 50%.
    29. Oncoclínicas implemented Microsoft Azure to transform its entire data ecosystem with a web portal and mobile application that performs all image processing and storage.
    30. Operation Smile used Azure OpenAI Service, Fabric and Power Apps to eliminate manual data entry, resulting in reduced translation errors by about 90% and the time required for completing reports from four to five hours to just 15 to 20 minutes.
    31. Pacifico Seguros has adopted Microsoft Copilot for Security to optimize its security operations and anticipate and neutralize threats more efficiently and effectively.
    32. Parexel adopted Azure Databricks and Microsoft Power BI, achieving an 85% reduction in data engineering tooling costs, a 30% increase in staff efficiency and a 70% reduction in time to market for data product delivery.
    33. Paysafe used Microsoft 365 Copilot to streamline meetings, information management and document creation, addressing language barriers, eliminating time-consuming tasks and boosting creativity along the way.
    34. Planted is integrating Azure OpenAI to manage everyday tasks more efficiently and facilitate the search for information for innovative process development.
    35. Presidio realized dramatic productivity gains saving 1,200 hours per month on average for the employees using Microsoft 365 Copilot and created 70 new business opportunities.
    36. Qatar Charity used Copilot Studio to increase its call center efficiency, reducing average handle time by 30%, increased customer satisfaction by 25%, and achieved a 40% reduction in IT maintenance costs.
    37. Saphyre uses Microsoft Azure and AI to provide an intelligent cloud-based solution that automates and streamlines financial trading workflows around client and counterparty life cycle management, reducing manual efforts by 75%.
    38. StarKist Foods used Azure to effectively unite production and demand processes with finance, reducing the planning cycle from 16 hours to less than one.
    39. Swiss International Air Lines migrated and modernized with Microsoft Azure, achieving up to 30% cost savings, a remarkable boost in platform stability along with enhanced security visibility.
    40. ZEISS Group uses Microsoft Fabric to create a secure and trusted data supply chain that can be shared effortlessly across a range of business units.
    41. ZF Group builds manufacturing efficiency with over 25,000 apps and 37,000 unique active users on Power Platform.

    Bending the curve on innovation

    Generative AI is revolutionizing innovation by speeding up creative processes and product development. It’s helping companies come up with new ideas, design prototypes, and iterate quickly, cutting down the time it takes to get to market. In the automotive industry, it’s designing more efficient vehicles, while in pharmaceuticals, it’s crafting new drug molecules, slashing years off R&D times. In education, it transforms how students learn and achieve their goals. Here are more examples of how companies are embracing generative AI to shape the future of innovation.

    New Stories:

    1. Agricultural Development Trust (ADT) of Baramati is analyzing water, weather, nutrient, pH data and more with AI to increase crop yields in India.
    2. DrumBeat.AI is using Microsoft AI services to predict, identify and treat ear diseases in communities that are both rural and remote, helping to prevent hearing loss among Indigenous communities in Australia.
    3. Dynamic Health Systems created its VitruCare365® platform on the Microsoft Cloud for healthcare technologies to enable motivational care planning. Built on Microsoft Azure, FHIR (Fast Healthcare Interoperability Resources) and Dynamics 365, it provides personalized apps powered by Azure OpenAI Service to each patient and is deployed as an extension to the Microsoft 365 tools clinicians use every day.
    4. Cities can use Esri’s ArcGIS geospatial platform to create environmental digital twins that simulate heavy rainfall and apply hot spot analysis to highlight flooding. Adding Azure AI to the geospatial digital twin will reveal insights in impossible amounts of data.
    5. Digital employment agency Gojob developed Aglae, a virtual assistant based on Azure OpenAI Service, to pre-qualify candidates within 15 minutes, enabling recruiters to achieve record employment placement rates.
    6. Institut Curie and Microsoft partner Witivio developed Copilot for Researcher, an agent that can help researchers with some of the administrative tasks in their jobs so they have more time to spend on actual new ideas in the fight against cancer.
    7. NASA created Earth Copilot to transform how people interact with Earth’s data.
    8. Parity is helping women athletes use data and AI to help improve their well-being, performance and careers.
    9. Petbarn created “PetAI” using Azure OpenAI Service, Azure AI Search and Azure App Service to provide Australian pet owners highly personalized advice and product recommendations.
    10. Project Guacamaya is using daily satellite images and various AI models tailored to the Amazon ecosystem to help prevent its deforestation, allowing for quicker action to be taken in at-risk areas.
    11. Properstar developed a solution to simplify the analysis of unstructured real estate data and create a dynamic, AI-powered filtering system that provides more nuanced search results.
    12. RadarFit is using generative AI and a unique gamification strategy to encourage healthy habits in Brazil, with a comprehensive health and wellness program aimed at helping companies reduce chronic disease rates.
    13. SEDUC is using Microsoft 365 Copilot for administrative tasks — such as generating legal documents and handling administrative inquiries — and has expanded to include AI usage with students and teachers, including personalized learning to cater to individual student needs and help them recover from learning losses during the pandemic.
    14. Indonesia’s Universitas Terbuka used Microsoft Azure OpenAI services and Azure AI Foundry to build an AI tutor that delivers accurate, curriculum-aligned responses and streamlines student assessment. The tutor currently supports 500 classes and some 100,000 students.
    15. World Traveler is using AI including Microsoft Reading Progress and Microsoft Immersive Reader to help teachers reach its globally and educationally diverse students with personalized learning experiences.
    16. South Korean startup Wrtn Technologies brings ATI close to people, with a “superapp” that compiles an array of AI use cases and services, but localized for Korean users to integrate AI into their everyday lives.

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    1. Air India has incorporated Microsoft 365 Copilot into multiple departments, unlocking a new realm of operational insights that not only provides critical data on flight punctuality and operational hurdles, but also empowers proactive, collaborative decision making.
    2. Agnostic Intelligencedeployed Azure OpenAI Service to eliminate time-consuming tasks, saving users up to 80% of their time, and enabling IT managers to focus on innovation and quality assurance.
    3. Albert Heijn is using Azure OpenAI for everything from customer personalization to demand forecast and food waste projects, making it easier for its customers to change their lifestyle.
    4. Amgen is using Microsoft 365 Copilot to boost productivity and has the potential to speed up drug development and support advancements in their business processes.
    5. APEC leverages Microsoft Azure and deep neural network algorithms to develop an app that enables healthcare providers to capture retinal images, increasing the accuracy to identify Retinopathy of Prematurity (RoP) to 90%.
    6. ASOS is using Azure AI Studio to help customers discover new looks with genuine shopping insights, personalized conversations, naturalism and even humor to enliven the shopping journey.
    7. Auburn University is incorporating Microsoft Copilot to promote AI literacy, accessibility and collaboration, with the aim to expand educational and economic opportunities for its entire academic community with AI-centric tools.
    8. B3 launched an AI assistant using Azure OpenAI Service that aids 10,000 users a day to answer Brazilians’ questions about how to start investing.
    9. Basecamp Research aims to build the world’s largest database of national biodiversity and apply AI and machine learning to advance bioscience.
    10. Bayer is using Microsoft Copilot to contribute to feeding a growing global population and helping people lead healthier, disease-free lives.
    11. BMW AG implemented Azure AI to develop a mobile data recorder copilot for faster data management helping engineers reduce the lead time for insights from days to hours or sometimes minutes.
    12. Brembo leveraged Azure OpenAI to develop ALCHEMIX, a solution to generate innovative compounds for its brake pads, drastically reducing the development time of new compounds from days to mere minutes.
    13. Canary Speech can now train new vocal models in as little as two months and handle millions of transactions per month with Microsoft Azure.
    14. CapitaLand simplified internal processes increasing efficiency to more than 10,000 man-days saved per year and deployed Azure OpenAI Service to build the first AI hospitality chatbot for its lodging business.
    15. Cassidy is using Azure OpenAI Service to enhance efficiency across various industries, supporting over 10,000 companies.
    16. Coca-Cola is implementing Azure OpenAI Service to develop innovative generative AI use cases across various business functions, including testing how Microsoft 365 Copilot could help improve workplace productivity.
    17. Denso is developing “human-like” robots using Azure OpenAI Service as the brain to help robots and humans work together through dialogue.
    18. eFishery is using Azure OpenAI for farmers to get the data and insights on fish and shrimp farming, including more precise feeding and water quality monitoring.
    19. EY developed an application that automatically matches and clears incoming payments in SAP, resulting in an increase from 30% to 80% in automatically cleared payments and 95% matched payments, with estimated annual time savings of 230,000 hours globally.
    20. EY worked with Microsoft to make Azure AI Foundry more inclusive for all, serving the 20% of the global workforce identifying as neurodivergent.
    21. FIDO is using Azure OpenAI Service to develop an AI tool that uses sound to pinpoint leaky pipes, saving precious drinking water.
    22. Georgia Tech is using Azure OpenAI Service to enhance the electric vehicle (EV) charging infrastructure, achieving rapid data classification and predictive modeling, highlighting the reliability of networked chargers over non-networked ones.
    23. GigXR developed a solution to create the intelligence for specific AI patients using Microsoft Azure OpenAI Service and other Azure services.
    24. GoTo Group is significantly enhancing productivity and code quality across its engineering teams by adopting GitHub Copilot, saving over seven hours per week and achieved a 30% code acceptance rate.
    25. GovTech used Microsoft Azure OpenAI Service to create LaunchPad, sparking more than 400 ideas and 20 prototypes, laying the foundation for the government to harness the power of generative AI.
    26. H&R Block is using Azure AI Studio and Azure OpenAI Service to build a new solution that provides real-time, reliable tax filing assistance.
    27. Haut.AI provides skin care companies and retailers with customizable, AI-based skin diagnostic tools developed with the help of Microsoft AI.
    28. Helfie is building a solution that caters to healthcare providers who can arm their patients with an application to more quickly and accurately access the care they need.
    29. Hitachi will implement Azure Open AI Service, Microsoft 365 Copilot and GitHub Copilot to create innovative solutions for the energy, mobility and other industries.
    30. Icertis is providing AI-based tools that will recognize contract language and then build algorithms to automatically choose the right approach based on the content of the contract.
    31. Iconem leveraged AI-generated imagery to process and analyze a vast amount of photogrammetry data used to create the 3D digital twin of St. Peter’s Basilica, allowing visitors to explore every intricate detail from anywhere in the world.
    32. ITOCHU is using Azure OpenAI Service and Azure AI Studio to evolve its data analytics dashboard into a service that provides immediate recommendations by automatically creating evidence-based product proposals.
    33. IU International University of Applied Sciences (IU) is using the power of Azure OpenAI Service to develop Syntea, an AI avatar integrated into Microsoft Teams and Microsoft 365 Copilot, making learning more personalized, autonomous and flexible.
    34. Khan Academy has partnered with Microsoft to bring time-saving and lesson-enhancing AI tools to millions of educators.
    35. Lufthansa Group developed an animated 3D avatar called Digital Hangar to help guide passengers from initial travel inspiration to flight booking through an exchange with an Avatar in natural language.
    36. Mia Labs implemented Azure OpenAI to produce and protect its conversational AI virtual assistant Mia that provides fast support from investors, along with the sophisticated security posture and threat protection capabilities for AI workloads.
    37. Mitsubishi Heavy Industries is using Azure OpenAI Service to help accelerate digital innovation in power plants.
    38. Molslinjen has created an AI analytics toolbox that has reduced fuel emissions, improved customer satisfaction and brought in millions of additional revenue.
    39. New Sun Road implemented AI into a local controller for energy systems to balance the supply, storage and use requirements. This optimized loads to accelerate the deployment of renewable energy for local clean power for communities.
    40. Novo Nordisk recently published initial results with predictive AI models for advanced risk detection in cardiovascular diseases, including an algorithm that can predict patients’ cardiovascular risk better than the best clinical standards.
    41. Ontada implemented Azure AI and Azure OpenAI Service to target nearly 100 critical oncology data elements across 39 cancer types and now accesses an estimated 70% of previously unanalyzed or unused information, accelerating its life science product development, speeding up time to market from months to just one week.
    42. Paige.AI is using AI and Microsoft Azure to accelerate cancer diagnoses with data from millions of images.
    43. Pets at Home created an agent to help its retail fraud detection team investigate suspicious transactions.
    44. Plan Heal is using Microsoft AI to create solutions that enable patients to monitor and report health metrics so care providers can better serve them.
    45. Pacific Northwest National Laboratory (PNNL) is testing a new battery material that was found in a matter of weeks, not years, as part of a collaboration with Microsoft.
    46. Rijksmuseum is harnessing the power of Copilot to make art accessible at scale by joining forces with Microsoft to improve and expand the art experience for blind and low-vision community members.
    47. Royal National Institute of Blind People is using Azure AI services to develop an AI-based solution that quickly and accurately converts letters to braille, audio, and large print formats.
    48. Schneider Electric provides productivity-enhancing and energy efficiency solutions and is using a whole suite of AI tools to hasten its own innovation and that of its customers.
    49. SPAR ICS created an award-winning, AI-enabled demand forecasting system achieving 90% inventory prediction accuracy.
    50. SustainCERT deployed GenAI and machine learning for automated data verification, extraction from documents and to accelerate auditing processes to enable verifying the impacts and credibility of carbon credits.
    51. Suzuki Motor Corporation is adopting Azure OpenAI Service for data security, driving company-wide use with five multipurpose apps.
    52. Tecnológico de Monterrey created a generative AI-powered ecosystem built on Azure OpenAI Service with the goal to personalize education based on the students’ needs, improve the learning process, boost teachers’ creativity and save time on tedious tasks.
    53. TomTom is using Azure OpenAI Service, Azure Cosmos DB and Azure Kubernetes Service to revolutionize the driver experience.
    54. Toyota is deploying AI agents to harness the collective wisdom of engineers and innovate faster in a system named “O-Beya,” or “big room” in Japanese. The “O-Beya” system currently has nine AI agents — from a Vibration Agent to a Fuel Consumption Agent.
    55. Unilever is partnering with Microsoft to identify new digital capabilities to drive product innovation forward, from unlocking the secrets of our skin’s microbiome to reducing the carbon footprint of a multibillion-dollar business.
    56. Unity used Microsoft Azure OpenAI Service to build Muse Chat, an AI assistant that can guide creators through common questions and help troubleshoot issues to make game development easier.
    57. University of South Florida is using Microsoft 365 Copilot to alleviate the burden of repetitive, time-consuming tasks so faculty and staff can spend this time creatively solving problems, conducting critical research, establishing stronger relationships with peers and students and using their expertise to forge new, innovative paths.
    58. Utilidata built the first distributive AI and accelerated computing platform for the electric grid allowing flexible transformation and dynamic infrastructure to increase electrification and decarbonization.
    59. Visma has developed new code with GitHub Copilot, Microsoft Azure DevOps and Microsoft Visual Studio as much as 50 percent faster, contributing to increased customer retention, faster time to market and increased revenue.
    60. Wallenius Wilhelmsen is implementing Microsoft 365 Copilot and using Microsoft Viva to drive sustainable adoption, streamlining processes, empowering better decision making and cultivating a culture of innovation and inclusion.
    61. Wipro is committed to delivering value to customers faster and improving the outcomes across the business by investing $1 billion in AI and training 200,000 employees on generative AI principles with Microsoft Copilot.

    Read more:

    IDC InfoBrief: sponsored by Microsoft, 2024 Business Opportunity of AI, IDC# US52699124, November 2024

    Tags: AI, AI Azure, Azure OpenAI Service, Copilot, Copilot Studio, Microsoft 365 Copilot

    MIL OSI Economics

  • MIL-OSI United Nations: Experts of the Committee on the Elimination of Discrimination against Women Commend Nepal on Increased Representation of Women in the Public Sector, Raise Questions on the “Chhaupadi” Practice and Women’s Right to Confer Citizenship

    Source: United Nations – Geneva

    The Committee on the Elimination of Discrimination against Women today concluded its consideration of the seventh periodic report of Nepal, with Committee Experts commending the State for increasing the representation of women in the public sector, while raising questions on the “Chhaupadi” practice affecting menstruating women and girls, and Nepalese women’s right to confer citizenship to their spouses and children.

    Hiroko Akizuki, Committee Expert and Country Rapporteur for Nepal, reading questions on behalf of another expert, commended Nepal for its recent increases in the representation of women in the public sector, increasing over the last decade from just 8 per cent to almost 30 per cent now, with targets to increase this to 35 per cent by 2030.

    Another Expert said the Chhaupadi practice forcibly exiled menstruating women and girls from their homes to menstruation huts. Although this practice had been criminalised, its practise continued, and this had resulted in the deaths of menstruating women and girls from animal attacks. What was being done in this area and in the area of period poverty? How could the engagement of men and boys be mobilised against Chhaupadi?

    A Committee Expert noted that despite recent amendments to the Constitution, many discriminatory provisions still caused immense hardship to women, girls and their families, particularly when it came to passing on citizenship. Did the State party plan to address this gross violation of women’s rights by repealing several articles in the Constitution, allowing Nepalese women to transfer their nationality to their spouses on equal terms? How would the State party enable stateless children to access social services? Were there plans to ensure universal birth registration in the State party, and to ratify the two United Nations conventions on statelessness?

    The delegation said the Government had conducted many programmes in the provinces where practices of Chhaupadi were practised. Ending traditional, harmful practices in society was not easy, and it took time to bring about change. The State had developed Chhaupadi guidelines in 2007 and was developing guidelines for the concept of dignified menstruation.

    The delegation said Nepal’s Constitution ensured that women had equal rights to confer citizenship to their children. In January 2025, the Government submitted the citizenship bill to address challenges for individuals and children whose mothers had passed away. If the father’s identity was unknown, citizenship could be granted based on the maternal line. This amendment aimed to confer citizenship to those born to a Nepalese mother outside Nepal’s borders. If the father of a child was not identified, the mother could register her family name at the birth of the child.

    Introducing the report, Nawal Kishor Sah Sudi, Minister for Women, Children and Senior Citizens of the Government of Nepal, said the State was proud to have four high-ranking women policymakers of the Government of Nepal in the delegation, as well as Ms. Bandana Rana, as a distinguished Committee Member of this Committee. Since the promulgation of the Constitution, the Federal Parliament had enacted 16 different laws related to fundamental rights, including the rights of women. The State had also made notable progress in women’s political representation and participation, with women holding 34 per cent of seats in the Federal Parliament. The Government also recently appointed its first woman Chief Secretary and the first woman Registrar in the Supreme Court of Nepal in history.

    In closing remarks, Ram Prasad Subedi, Permanent Representative of Nepal to the United Nations Office at Geneva, said the dialogue had been wonderful and constructive. The participation of all stakeholders was greatly appreciated. The Government was fully committed to upholding the Convention’s objectives.

    In her closing remarks, Nahla Haidar, Committee Chair, thanked the State party for its commitment and political will, and for the constructive dialogue.

    The delegation of Nepal was comprised of representatives of the Ministry of Women, Children and Senior Citizens; the Ministry of Law, Justice and Parliamentary Affairs; the Office of the Prime Minister and Council of Ministers; and the Permanent Mission of Nepal to the United Nations Office at Geneva.

    The Committee on the Elimination of Discrimination against Women’s ninetieth session is being held from 3 to 21 February. All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage . Meeting summary releases can be found here . The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet at 10 a.m. on Thursday, 6 February to consider the ninth periodic report of Belarus (CEDAW/C/BLR/9).

    Report

    The Committee has before it the seventh periodic report of Nepal (CEDAW/C/NPL/7).

    Presentation of Report

    NAHLA HAIDAR, Committee Chair, said the Committee was proud to have Ms. Bandana Rana as a member of the Committee from Nepal.

    NAWAL KISHOR SAH SUDI, Minister for Women, Children and Senior Citizens of the Government of Nepal, said the State was proud to have four high-ranking women policymakers of the Government of Nepal in the delegation, as well as Ms. Bandana Rana, as a distinguished Committee Member of this Committee. Nepal remained fully committed to the implementation of the Convention and had made substantial progress in developing a robust legal and policy framework that supported the empowerment of women and girls.

    Since the promulgation of the Constitution, the Federal Parliament had enacted 16 different laws related to fundamental rights, including the rights of women. These laws comprehensively addressed women’s rights and reflected the State’s commitment to strengthening legal protections. The Government of Nepal had commenced its sixteenth Periodic Plan (2024/25–2028/29) in 2024, which recognised the critical importance of gender-sensitive policies and prioritised gender equality and women’s empowerment as fundamental pillars of its development agenda.

    The citizenship (amendment) bill had been registered in Parliament, aiming to address citizenship challenges for individuals whose mothers had died early or were out of contact. Provisions ensured that if a father’s identity was unknown, citizenship could be granted based on maternal descent. Nepal had ratified the United Nations Palermo Protocol in 2020, and in 2024, an act to amend some of Nepal’s laws had been amended by widening the definition of trafficking to include foreigners and immigrants, and also criminalising human smuggling.

    Nepal was the second country in Asia to recognise same-sex marriage. Other legal processes, including marriage and identity cards for sexual and gender minorities, were underway. The Nepal Law Commission, an autonomous research body of the Government, was currently conducting a comprehensive study on discriminatory laws against the rights of gender and sexual minorities to initiate necessary legal reform in this regard. The State had also made notable progress in women’s political representation and participation, with women holding 34 per cent of seats in the Federal Parliament. The Government also recently appointed its first woman Chief Secretary and the first woman Registrar in the Supreme Court of Nepal in history.

    Nepal remained committed to combatting gender-based violence and had established women, children, and senior citizen service centres in 1996 as part of a dedicated unit within the Nepal Police to investigate gender-based violence cases effectively. Today, 232 fully functioning centres operated across the country, strengthening Nepal’s law enforcement response to violence against women.

    The Government provided free physical and mental healthcare services and protective measures. Currently, 94 government health institutions functioned as one-stop crisis management centres, alongside 21 service centres that served as transit homes, and 276 additional support centres. The Government of Nepal had established long-term rehabilitation centres, one at the national level and another at the provincial level. There were also 10 dedicated rehabilitation centres for victims of human trafficking and 53 community-based safe shelters, operating in collaboration with provincial governments, civil society organizations, and other stakeholders. Over 6,000 community-based networks were actively engaged in the fight against gender-based violence, reflecting Nepal’s strong commitment to protecting vulnerable groups and ensuring justice to the survivors.

    Nepal recognised the link between climate change, natural disasters, and gender equality, and had strengthened disaster preparedness to support and protect women, especially in vulnerable communities. The September 2024 floods in Kathmandu and nearby areas saw effective disaster management, ensuring shelter, healthcare, and essential services for affected communities. Nepal continued to integrate gender considerations into national climate policies to build long-term resilience.

    Nepal remained committed to ensuring justice for victims of past human rights violations, particularly in cases affecting women. The third amendment to the enforced disappearances enquiry, truth, and reconciliation commission act 2014, approved in August 2024, now explicitly included serious human rights violations in its amendment such as rape and grave sexual violence, intentional or arbitrary killings, enforced disappearances, inhumane or cruel treatment, and torture. A Special Court had been designated to adjudicate these cases and a dedicated investigative unit for sexual violence cases had been established.

    Nepal remained steadfast in its commitment to gender equality, women’s empowerment, and social justice. The State aimed to expand access to quality education for girls, particular in rural areas, enhance women’s economic independence, strengthen maternal health and gender-based violence support services, develop gender-sensitive infrastructure, and promote women’s leadership. While challenges remained, the State’s resolve was stronger than ever, and the Committee’s guidance was welcomed.

    Statement by the National Human Rights Institution

    LILY HAJUR BASNYAT THAPA, National Human Rights Commission of Nepal, said it was crucial to acknowledge progress made by the State. The affirmative actions taken by the Government of Nepal were highly appreciated. Despite constitutional guarantees, Nepal’s legal framework still contained critical gaps. Nepalese laws lacked comprehensive definitions of discrimination, particularly around direct, indirect, and intersectional forms of discrimination affecting women. While some protective measures existed, implementation remained inconsistent. A distinct legal provision with a comprehensive definition of discrimination was essential to ensure justice for women facing severe discrimination. More action needed to be taken to strengthen the institutional mechanism, the National Women’s Commission.

    The legal prohibition of entrenched harmful practices such as child marriage, Chhaupadi, discrimination against widows, and dowry, continued to persist. The Government of Nepal had expedited its efforts to amend almost a dozen laws to make them compatible with the Palermo Protocol, but it was too late to make amendments to the laws related to human trafficking. Furthermore, women often faced significant barriers in employment and migration. In sectors like tea plantations, where women constituted 80 per cent of the workforce, they lacked adequate maternity protections and faced potential wage cuts during pregnancy. Migrant women workers were particularly vulnerable, experiencing exploitation in destination countries with insufficient pre-departure training and reintegration support. Similarly, critical challenges persisted in sexual and reproductive healthcare. Rural and Madhesi women faced limited access to family planning and safe abortion services. Moreover, a deeply entrenched son preference continued to drive sex-selective practices, with statistics showing 112 boys born for every 100 girls in 2021.

    Several critical areas demanded immediate attention. Women faced substantial restrictions in conferring citizenship to children and spouses, unlike their male counterparts. Rural women had limited access to sexual and reproductive health services, and comprehensive sexuality education remained restricted. Indoor pollution where 80 per cent of rural cooking happened without ventilation, caused around 7,500 annual deaths, disproportionately affecting women. The Commission proposed several critical interventions including to enact comprehensive anti-discrimination legislation, establish robust mechanisms for women’s protection, strengthen political representation through practical measures, improve migrant worker protections, enhance sexual and reproductive healthcare access, and address systemic gender stereotypes. The Committee was urged to strongly recommend the full and immediate implementation of women’s constitutional and legal rights in line with the Convention and the Committee’s previous recommendations.

    Questions by a Committee Expert

    HIROKO AKIZUKI, Committee Expert and Country Rapporteur for Nepal, said the Committee commended Nepal for its commitment to fulfilling its obligation and participation in the exchange despite repeated earthquakes and natural disasters. What efforts had been taken to adopt comprehensive anti-discrimination legislation, including a definition of discrimination against women, in both the public and private spheres? How did the State party address cross-cutting discrimination against women, including women with disabilities, lesbian, gay, bisexual, transgender and intersex women, indigenous women, and elderly women, among others? What measures had been taken to ensure the effective implementation of laws? What was the status and content of the special opportunity bill? Were women’s rights organizations participating in the drafting of the bill? What measures had been implemented to enhance women’s awareness of their rights, and the legal remedies available under the Convention? Were human rights being recognised as including the collective rights of indigenous women?

    Responses by the Delegation

    The delegation said Nepal was doing its best to implement legal reforms with a legal perspective. The State had a plan for an integrated gender-based violence act, which was underway and moving in a positive direction. Nepal’s Constitution provided the framework for fighting all acts of discrimination. The State was aware that there should not be any multiple and intersecting forms of discrimination. Nepal had several special laws which provided remedy for discrimination, including the human trafficking act, the domestic violence act, the sexual harassment at work act, the witchcraft accusation act, the labour act, and the victim crime act, among others, along with the Criminal Code, which provided no room for discrimination on any ground.

    At present, there were special opportunity provisions scattered in various laws. It was expected that the special opportunity bill would soon be enacted by the Parliament. There were paid lawyer systems in the court, and more than 41,000 people received these services last year. It was required that for any lawmaking, there should be consultation with stakeholders with all three tiers of Government, to ensure a participatory approach. This would be occurring with the legal aid bill in a few weeks. In 2024, 200 young lawyers were mobilised, with 121 being women, to provide legal aid. The State had begun to have a roster of pro-bono lawyers within the Nepal Bar Association, already this year they had provided 79 victims with pro-bono support, 79 of whom were women. There was no special law concerning the rights of indigenous women, but scattered laws covered these rights.

    Questions by Committee Experts 

    A Committee Expert asked what plans were in place to provide necessary resources to implement the national gender equality policy? Were there plans to establish provincial offices of the National Women’s Commission? What measures had been taken to address recommendations of the National sub-Committee, so it could fully comply with the Paris Principles? There were allegedly issues with financing for the resources assigned to the Ministry of Women; could more light be shed on this issue? How was the budget distributed and how were the issues dealt with? How effective were the decisions taken by the National Women’s Commission? Were their decisions binding? 

    Another Expert said temporary special measures were essential for ensuring equal opportunities for women in economic and social life. Could more information be provided about the State’s gender quotas? When would a gender equality principle be implemented directly into the Election Code of Conduct? How could temporary special measures be used to mitigate specific discrimination faced by minorities?

    Responses by the Delegation

    The delegation said the Government was actively implementing the gender equality policy, but faced challenges in this regard, including a lack of resources. Financial resources were being prioritised by the plan. After the federal election in 2017, 16 parliamentary panels were formed to monitor the Government’s work. A division was responsible for monitoring and implementing recommendations from the treaty bodies.

    Recently, Nepal had been taking many steps in the area of temporary special measures. In line with the Committee’s previous recommendations, the Government had enacted temporary special measures to accelerate women’s participation at all levels, particularly in the decision-making processes. One of the most notable achievements had been the gender balance in leadership at the highest level of the Government. It was mandated that the House of Representatives needed to include at least one woman. At the recent elections of the local level, it was mandated that at least one nominee for the position of Mayor or Deputy Mayor should be a woman. In the 2022 elections, over 40 per cent of women were elected as representatives, a notable improvement from the 2017 elections. In the Office of the Prime Minister, there was a committee to facilitate the recommendations of the National Human Rights Commission.

    Nepal had seven provinces and budgets were allocated at federal, provincial and local levels. The budget at the federal level was a bit low. The proposed civil services bill had proposed initiatives for indigenous women and other minorities. The provincial services act already sought to provide for minorities.

    Questions by Committee Experts

    A Committee Expert said Nepal had a new opportunity to address historical conflicts in ways which would set an example to other countries in the sub-continent. Despite the reconciliation commission and the commission on enforced disappearances, impunity for conflict-related violations persisted. There should be no amnesty or sentence reductions for rapists. Nepal’s long awaited transitional justice law was adopted in 2024, and the Committee congratulated the State on its many positive elements. But Nepal was encouraged to go further along the women, peace and security agenda. Was Nepal providing reparations for victims of conflict-related sexual violence? Had the law been changed? Nepal was the first Asian country to safeguard the rights of sexual and gender minorities which should be applauded. Nepal’s climate-related gender-based violence was correlated to climate crisis and this should be recognised and included in climate change action plans. How could the laws in Nepal be brought in line with the United Nations treaty on cybercrimes?

    The Chhaupadi practice forcibly exiled menstruating women and girls from their homes to menstruation huts. Although this practice had been criminalised, its practise continued, and this had resulted in the deaths of menstruating women and girls from animal attacks. What was being done in this area and in the area of period poverty? How could the engagement of men and boys be mobilised against Chhaupadi? How could the Kumari practices be modernised in line with modern sciences?

    A Committee Expert took note that the State party had ratified the Palermo Protocol in 2020. When was full compliance with the Protocol expected? Would the State party consider removing a provision which allowed the judiciary to fine victims if they failed to appear in court? Was the State party planning to change the provision which conflated trafficking with sex work? What steps were being taken to ensure trafficking cases were being dealt with in an acceptable time frame? The Committee noted with concern that the Government continued to impose restrictive age bans for women under 24 seeking domestic work, making them at a higher risk of becoming victims of trafficking. Would the State consider lifting these bans. How were migrant women’s needs addressed in bilateral labour agreements? Was pre-departure training provided for women migrants on labour rights or gender specific challenges?

    No progress seemed to have been made to secure the rights of adult sex workers. How and when would the State party formulate a comprehensive policy and legislative framework to ensure the protection of women in prostitution? How would Nepal punish law enforcement officers who targeted sex workers? How would the State support sex workers in leaving the profession and seeking new forms of work.

    Responses by the Delegation

    The delegation said the Government had conducted many programmes in the provinces where practices of Chhaupadi were practised. Ending traditional, harmful practices in society was not easy, and it took time to bring about change. The State had developed Chhaupadi guidelines in 2007 and was developing guidelines for the concept of dignified menstruation.

    Nepal had ratified the Palermo Protocol in 2020, and an act amended in 2024 widened the definition of trafficking. A draft policy and action plan aimed to address several elements of trafficking, including providing for reparations for victims and training for police and judges in human trafficking cases.

    The amended law had provided specialised scope to examine the issue of sexual violence, and had provided for a special court for cases of sexual violence. The amendment included the victim-centric approach, and aimed to ensure victims were satisfied with outcomes, including reparations.

    Nepalese law did not recognise prostitution. The Nepalese police were taking legal measures to criminalise the clients of prostitutes. The State was aware of the rights of sex workers, which needed to be protected. The 35 day statute of limitations had been abolished and extended to three months. Sex workers were equally entitled to enjoy their rights under the Nepalese Constitution.

    The State was in the process of amending the domestic violence act and would consider the aspect of technology-related gender-based violence. Legal reform was not the only means to intervene in harmful practices. For example, the Government, in cooperation with civil society organizations, was dedicated to controlling the exploitation of sex workers. Public awareness campaigns were being launched in the adult entertainment sector, and multiple efforts had been made to reduce the demand for prostitution through the distribution of leaflets and other media. Collaborative efforts were being made in border areas to monitor human trafficking issues.

    The Government, in support with partners, was working to implement programmes in the provinces with regard to child marriage, including through declaring “child marriage free areas”.

    Questions by Committee Experts

    HIROKO AKIZUKI, Committee Expert and Country Rapporteur for Nepal, reading questions on behalf of another expert, said last session the Committee adopted its latest general recommendation on parity in politics. The State party was commended for its implementation of electoral quotas; however, the low numbers of representation were concerning. What measures was the State party taking to address the low representation of women, particularly from minority groups? In the 2022 election, male voters greatly outnumbered female voters. Did the State party take any measures to ensure political literacy, and engagement among women and girls, to encourage their participation in democratic processes?

    Nepal was commended for its recent increases in the representation of women in its public sector, increasing over the last decade from just 8 per cent to almost 30 per cent now, with targets to increase this to 35 per cent by 2030. Could current data on the gender breakdown of management and decision-making positions in the public sector be provided, as well as any plans in place to increase these figures? Did the State party have any data on women in board and management positions in Nepal and what was being done to increase these figures? What was being done to protect women human rights defenders in the digital sphere?

    Another Expert said despite recent amendments to the Constitution, many discriminatory provisions still caused immense hardship to women, girls and their families, particularly when it came to passing on citizenship. Did the State party plan to address this gross violation of women’s rights, by repealing several articles in the Constitution, allowing Nepalese women to transfer their nationality to their spouses on equal terms. How would the State party enable stateless children to access social services? Were there plans to ensure universal birth registration in the State party, and to ratify the two United Nations conventions on statelessness? Was there a special arrangement in the new proposed bill which addressed Nepalese women married to refugees?

    Responses by the Delegation

    The delegation said the Government had introduced many special measures to accelerate gender equality. Recently, the Government had introduced issues of intersectional disparity, with bills drafted in this regard. Currently, the level of Nepalese female diplomats was low. The Government had taken steps last year to foster inclusivity in international representation, to encourage more diverse representation in foreign engagement. Nepal’s Constitution ensured that women had equal rights to confer citizenship to their children. in January 2025, the Government submitted the citizenship bill to address challenges for individuals and children whose mothers had passed away. If the father’s identity was unknown, citizenship could be granted based on the maternal line. This amendment aimed to confer citizenship to those born to a Nepali mother outside Nepal’s borders. If the father of a child was not identified, the mother could register her family name at the birth of the child.

    Nepal’s representation of women in the public sector had significantly improved, and the Government was making efforts to improve women’s participation in the private sector.

    Questions by a Committee Expert

    A Committee Expert said the Committee had noted with satisfaction significant progress made in the field of education, particularly the act approving compulsory, free education in 2018. The Committee also noted with satisfaction the adoption of the 10-year school education plan to 2032, prioritising female education and gender equality. What measures had been taken to strengthen the institutional capacities of local Governments, including dissemination in local languages? What measures were being taken to ensure access to education for all children, regardless of their caste or citizenship status, including girls of all ethnic or religious groups? The high prevalence of child marriage in certain provinces had resulted in a high dropout rate from schools. What measures were being taken to ensure pregnant and married girls could continue their education?

    Responses by the Delegation

    The delegation said every citizen had the right to access education. Persons with disabilities had the right to free education and every Nepalese community had the right to receive education in their mother tongue. Nepal had adopted the policy of no discrimination in education, whatever the status of citizens. There were some difficulties with children who did not have citizenship, but it was hoped the citizenship bill, currently under review by parliament, would rectify this issue. The Government had to provide free textbooks and other logistic support under the act on education for all. The central Government was providing around 11 per cent of the total budget to education, with around seven per cent being allocated to local levels. This allocation had been steadily increasing over recent years.

    In 2016, the median marriage age of Nepalese women was 17.9; it had now risen to 18.3 years. There were some cases of early marriage, and the State acknowledged this. The legal age of marriage had now been raised to 20. Other measures to combat early marriage included night school, counselling programmes, and youth programmes, which contributed to raising awareness and mitigating this issue.

    Responses by the Delegation

    The delegation said the Education Act prioritised education for marginalised communities. The State strove to ensure that education was inclusive for children with disabilities. Many scholarships were provided at local levels and there were policies for providing special grants in 2025. A commitment had been adopted which aimed to eradicate discrimination in education.

    Questions by a Committee Expert

    A Committee Expert commended the State party for policies and legislation in the field of employment, including the labour act, the social security act and the five-year strategic national action plan to 2025 on moving workers in the informal sector to the formal sector. However, there were still discrepancies, including the much lower level of female employment rate, compared to males. What measures had been taken to address the low representation of women in the workforce? What was the timeline for ensuring full payment for women in all sectors? Were enhanced provisions for equal sharing of work for women being envisaged with the new national action plan?

    Women made up only around 10 per cent of migrant workers. What was the timeline to remove the ban and preconditions for women going abroad for domestic work? What protection measures were available for women from online harassment? When would the State party amend the law on sexual harassment and ensure justice for women victims and access to legal aid? How many cases of sexual harassment were prosecuted in the past two years and how many convictions were issued? What measures were envisaged to ensure equal opportunities for women and girls, including those with disabilities, in the digital economy?

    Responses by the Delegation

    The delegation said an employment service centre supported women’s participation in the workforce. Nepal had made substantial progress in reducing the wage gap and promoting equal opportunities, but challenges still persisted. Women were overrepresented in lower sectors and underrepresented in leadership positions. To address these challenges, Nepal was introducing gender responsive policies and conducting leadership training, among other measures. The Government conducted monitoring through regulatory oversight and audits, supported by trade unions and workers. Collaboration was also undertaken with partners, including the World Bank and the International Labour Organization.

    Nepal’s five-year national action plan sought to integrate vulnerable groups into the formal economy through skills training and offering opportunities for workers to formalise their employment. The social security scheme provided support to women in the informal sector and assisted them to transfer to formal employment.

    Nepal was committed to protecting all its citizens, including female migrant workers. Equal treatment policies were in place for both men and women, prioritising their security and health. Nepal was working closely with destination countries, such as the United Arab Emirates, to ensure the safety of its workers. Nepal was incorporating assistive technology to address the needs of persons with disabilities. Specific programmes were being developed to provide training and employment opportunities for persons with disabilities.

    Recently, Nepal had adopted an action plan on business and human rights, which provided a human rights friendly approach for all workers. The State was also implementing the fifth national human rights action plan, which covered employment as a major issue.

    The sexual harassment at workplace act allowed for cases of sexual harassment to be reported, and cases could also be reported to the police. However, it was hard for the Government to collect data on this topic. The safe motherhood and reproductive health act also provided paternity leave to fathers. This equally applied to the public and private sectors. The legal provisions were there but people were often not aware of their rights under these acts.

    Questions by a Committee Expert

    A Committee Expert said since the last review, Nepal had made significant progress in its health policy, particularly in sexual and reproductive health, with the adoption of the national strategy against discriminatory sex selection. However, the maternal mortality rate remained high and there were serious deficiencies in care and health centres. Some women refrained from using contraception unless they gave birth to a male child, putting them at risk of sexually transmitted diseases. The stigma around these diseases and HIV/AIDS prohibited women from seeking timely access to healthcare. What measures did the State intend to adopt to confront these challenges? What would be done to improve maternal mortality and prevent women from contracting venereal diseases and HIV/AIDS? How would it be ensured that women and girls had access to family planning and reproductive health services?

    Abortion services were not easy to obtain or affordable for many women. What would be done to ban selective abortions? What mental health and suicide prevention services were available for women in Nepal? Would the invasive treatment of intersex persons be criminalised? Would forced sterilisation be criminalised, including against women and children with disabilities? How would free, prior and informed consent for women be guaranteed, including with respect to abortion?

    Responses by the Delegation

    The delegation said Nepal had begun a vaccination programme against the human papilloma virus for all women and girls across the country. There were several programmes in place which focused on sexual and reproductive health, including the Safe Motherhood Programme and the Safe Abortion Programme. Any woman could undertake an abortion up to 12 weeks without issue. Safe abortions were available in all seven provinces of the country. The Government acknowledged the importance of mental health support for women. Healthcare providers were provided with training to offer support to women who were navigating fertility issues.

    There were inconsistencies between the sexual and reproductive health act and the Criminal Code. Because of this, the process of the amendment of the Criminal Code had been enacted, in line with the safe motherhood act. Dignified menstruation guidelines had been introduced, and work was being done to ensure the school curriculum covered sexual and reproductive health education.

    Nepal had no record of cases in regard to forced sterilisation of persons with disabilities. A social service unit programme provided access to free health services for specific groups, including women and girls with disabilities.

    Questions by a Committee Expert

    A Committee Expert said in December 2024, the National Planning Committee introduced a framework to increase access to social security programmes for those from marginalised groups. However, women in Nepal still faced significant financial challenges when it came to property ownership, obtaining bank loans, and accessing credit. Family benefits such as pensions and social security were often controlled by male family members, leaving women financially dependent. How did the Government monitor and evaluate the effectiveness of laws and policies aimed at eliminating discrimination in economic and social life? What steps were being taken to address the gaps between legal provisions and their implementation? How were women’s equal inheritance and property rights being enforced? How did the Government ensure women from marginalised communities had equal access to economic resources? What measures were in place to ensure single mothers received the social security benefits they were entitled to? How did the Government ensure pensions and other benefits reached the rightful female beneficiaries rather than be controlled by male relatives?

    Responses by the Delegation

    The delegation said Nepal had launched several programmes for economic empowerment in different areas, with different financial incentives. A programme had supported 90,000 entrepreneurs, with 70 per cent of them being women. The integrated subsidised loan scheme for women entrepreneur development aimed to enhance women’s economic empowerment.

    Questions by Committee Experts

    A Committee Expert said agriculture contributed to one third of Nepal’s gross domestic product. However, most elements within the sector remained male dominated. What measures had been implemented to ensure equal measures to credit and financial support for women? How was their financial literacy being enhanced? What was being done to introduce agricultural tools specifically for women? How was rural women’s access to information being improved? What steps were being taken to mitigate regional disparities? Indigenous women and girls, including those with disabilities, remained largely invisible. What measures had been taken to collect disaggregated data by sex, location and other factors to fully understand the challenges faced by indigenous women and girls? What was being done to recognise indigenous women as a distinct group in laws and policies, and to address their unique vulnerabilities and exclusion?

    Another Expert said Nepal was ranked among the countries most impacted by climate change. Significant rainfall had led to major challenges, including landslides and floods. Could more information be provided on the national action plan 2023? How did it address the negative impact of climate change on women? How did the plan ensure the full and effective participation of indigenous women and recognise their crucial role as caretakers and agents of change?

    Responses by the Delegation

    The delegation said different financial literacy programmes had been introduced for women in different provinces. In one programme, whenever a girl was born, a bank account was opened and the provincial government would contribute 500 Nepalese rupees a month for up to 20 years to support her education and wellbeing. A programme supported vegetable production and was making technology more accessible to women and girls. The Government of Nepal was committed to implementing the Convention. The national gender equality policy 2027 emphasised gender equality in all areas, including indigenous women. In the House of Representatives, the deputy speaker belonged to an indigenous group, and quotas were in place to ensure indigenous women’s representation in politics.

    Nepal was a victim of the climate crisis; the country protected the environment but felt the impact of climate change. Women and indigenous women were disproportionately affected.

    Questions by Committee Experts

    A Committee Expert asked who was eligible for legal aid and for what legal matters? Did legal aid include representation in court? How did women, particularly those from marginalised communities, learn about the right to legal aid? Was legal aid provided through a gender lens? What measures were in place to provide targeted support to marginalised women facing intersectional discrimination, such as sex workers, to access legal aid? Could non-citizens access legal aid in some circumstances?

    Only 52 cases of child marriage were handled by the Nepalese police in 2023. What explained the wide gap between the figures and enforcement? What was being done to protect child brides from being prosecuted? What was being done to eradicate the practice of dowry? Could the delegation clarify the status of gay marriages? How was the safety of inter-caste couples ensured? What legal measures were in place to protect the rights of women in unregistered marriages, such as polygamous marriages?

    Responses by the Delegation

    The delegation said the free legal aid act had been enacted in 1997. Under the act, low earners, victims of domestic violence, and senior citizens could receive free legal aid. The State was working to change the criteria to ensure more vulnerable groups of people could receive access to free legal aid. Legal aid services included the preparation of documents, pleading in front of the court, and different administrative services. There was no particular law to provide non-citizens with legal aid, but this was a fundamental right for everyone.

    Same sex marriage was valid but there was no legal instrument legalising these marriages yet. The State was assessing laws and how they could be reformed to better protect the rights of this community. All marriages had to be registered. There was no discrimination on the grounds of sex when it came to properties; men and women had equal rights. The dowry system had been criminalised by the National Criminal Code. Nepal was committed to having a collaborative approach with civil society and other partners to eliminate harmful practices and sensitise people at the grassroots level. This was a continuous effort.
    Closing Remarks

    RAM PRASAD SUBEDI, Permanent Representative of Nepal to the United Nations Office at Geneva, said the dialogue had been wonderful and constructive. The participation of all stakeholders was greatly appreciated. Nepal had made significant progress in certain areas, including on the Committee’s past recommendations. While there was a lack of data, there was not a lack of action. The Government was fully committed to upholding the Convention’s objectives.

    NAHLA HAIDAR, Committee Chair, thanked the State party for its commitment and political will, and for the constructive dialogue. The Committee would send specific recommendations through for immediate follow-up.

     

     

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently. 

    CEDAW25.003E

    MIL OSI United Nations News

  • MIL-OSI United Nations: Human Rights Council to Hold Special Session onthe Democratic Republic of the Congo on 7February

    Source: United Nations – Geneva

    The United Nations Human Rights Council will hold a special session on the human rights situation in the east of the Democratic Republic of the Congo on Friday, 7 February 2025.

    The session will start at 10 a.m. in room XX of the Palais des Nations in Geneva. The meeting will be webcast live in the six official languages of the United Nations.

    The special session is being convened per an official request submitted on Monday evening, 3 February, by the Democratic Republic of the Congo, which has been supported by 27 States thus far.

    For a special session to be convened, the support of one-third of the 47 members of the Council – 16 or more – is required. This request is thus far supported by the following States members of the Council (27): Algeria, Belgium, Bulgaria, Burundi, Chile, Colombia, Costa Rica, Cyprus, Czechia, the Democratic Republic of the Congo, the Dominican Republic, France, Germany, Ghana, Iceland, Japan, Kyrgyzstan, Malawi, Marshall Islands, Morocco, the Netherlands, North Macedonia, the Republic of Korea, Romania, South Africa, Spain and Switzerland.

    The request is also supported by the following 21 observer States: Australia, Austria, Croatia, Denmark, Estonia, Finland, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Poland, Portugal, Slovakia, Slovenia, Sweden and the United Kingdom.

    The list of signatories remains open up to the holding of the special session. Therefore, the above list of States is to be considered provisional.

    In connection with this special session, the Council will convene an organizational meeting on Thursday, 6 February at 10 a.m. when specific details on the special session and its scenario will be announced. This organizational meeting will also be webcast live.

    This will be the thirty-seventh special session of the Human Rights Council. On 28 November 2008, the Council held a special session on the situation of human rights in the east of the Democratic Republic of the Congo. The full list of special sessions of the Human Rights Council can be seen here .

     

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently. 

     

    HRC25.001E

    MIL OSI United Nations News

  • MIL-OSI Europe: Answer to a written question – Arrest of Boualem Sansal and the need to protect fundamental values in the EU-Algeria partnership – E-002821/2024(ASW)

    Source: European Parliament

    Respect for human rights and fundamental freedoms, including freedom of expression, constitutes a key element of EU-Algeria relations, as enshrined in the Association Agreement[1] and reinforced in the Partnership Priorities[2].

    On this basis, the EU continues to follow developments and raise concerns on human rights issues with its Algerian counterparts, in line with commitments from both sides.

    In particular, the EU addresses human rights in the framework of the EU-Algeria Association Agreement, notably in the Political, Security and Human Rights Dialogue Sub-Committee, and through regular contacts with government officials at all levels, as well as with civil society representatives in Algiers and Brussels.

    These discussions include the case of the author Boualem Sansal that the EU continues to follow closely in full coordination with the French authorities as stated by the Commission on 27 November 2024 at the European Parliament[3].

    • [1] https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX%3A22005A1010%2801%29
    • [2] https://www.consilium.europa.eu/en/press/press-releases/2017/03/13/eu-algeria/
    • [3] https://www.europarl.europa.eu/doceo/document/CRE-10-2024-11-27-ITM-016_EN.html
    Last updated: 5 February 2025

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  • MIL-OSI Europe: Answer to a written question – Disruption on the sea route between Italy and France (Santa Teresa di Gallura-Bonifacio) – E-002859/2024(ASW)

    Source: European Parliament

    The Commission acknowledges the importance of reliable maritime connections on short cross-border routes like Santa Teresa di Gallura-Bonifacio, which support local residents, tourists, and economic activities.

    Maritime services between Member States are subject to European Union rules ensuring open and competitive markets[1]. Where market forces alone are insufficient to ensure adequate connectivity, Member States may impose public service obligations (PSOs) or conclude public service contracts (PSCs) in accordance with specific conditions established by EU law[2].

    Member States determine operational specifics, in compliance with EU legislation[3]. In case of PSCs with compensation, the state aid rules have to be respected.

    The Commission supports Member States by ensuring compliance, facilitating funding through instruments like the European Regional Development Fund or the Recovery and Resilience Facility, and sharing best practices. Italy and France have had opportunity to use these tools to ensure reliable connectivity.

    In case of cancellations or delays in departure of more than 90 minutes of waterborne passenger services, the carrier must offer passengers the choice between re-routing to the final destination and reimbursement of the ticket price in accordance with the EU legislation on waterborne passenger rights[4].

    Passengers may also be entitled to compensation from the carrier in certain cases. The responsibility for ensuring the correct application and compliance with these rules lies in the first instance with the national enforcement bodies designated in each Member State.

    • [1] Council Regulation (EEC) No 4055/86 of 22 December 1986 applying the principle of freedom to provide services to maritime transport between Member States and between Member States and third countries.
    • [2] Council Regulation (EEC) No 3577/92 of December 1992 applying the principle of freedom to provide services to maritime transport within Member States (maritime cabotage). See also Case C-280/00 Altmark Trans v Nahverkehrsgesellschaft Altmark GmbH [2003] ECR I-07747 and Case T-454/13 SNCM v European Commission [2017] 2 ECLI:EU:T:2017:134.
    • [3] Article 106(2) of the Treaty on the Functioning of the European Union OJ C202/2016. Member States may apply Regulation (EC) No 1370/2007 of 23 October 2007 to public passenger transport by inland waterways and, without prejudice to Regulation 3577/92 (maritime cabotage).
    • [4] Regulation (EU) No 1177/2010 of the European Parliament and of the Council of 24 November 2010 concerning the rights of passengers when travelling by sea and inland waterway.
    Last updated: 5 February 2025

    MIL OSI Europe News

  • MIL-OSI Europe: B10-0061/2025

    Source: European Parliament

    Committee on the Environment, Public Health and Food Safety
    Members responsible: Martin Häusling, Biljana Borzan, Anja Hazekamp

    B10‑0061/2025

    European Parliament resolution on the draft Commission implementing decision authorising the placing on the market of products containing, consisting of or produced from genetically modified maize DP910521 pursuant to Regulation (EC) No 1829/2003 of the European Parliament and of the Council (D102174/03 – (2024/3010(RSP))

    The European Parliament,

     having regard to the draft Commission implementing decision authorising the placing on the market of products containing, consisting of or produced from genetically modified maize DP910521 pursuant to Regulation (EC) No 1829/2003 of the European Parliament and of the Council (D102174/03),

     having regard to Regulation (EC) No 1829/2003 of the European Parliament and of the Council of 22 September 2003 on genetically modified food and feed[1], and in particular Article 7(3) and Article 19(3) thereof,

     having regard to the vote of the Standing Committee on Plants, Animals, Food and Feed referred to in Article 35 of Regulation (EC) No 1829/2003, on 22 November 2024, at which no opinion was delivered, and the vote of the Appeal Committee on 17 December 2024, at which again no opinion was delivered,

     having regard to Article 11 of Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers[2],

     having regard to the opinion adopted by the European Food Safety Authority (EFSA) on 19 June 2024, and published on 1 August 2024[3],

     having regard to its previous resolutions objecting to the authorisation of genetically modified organisms (‘GMOs’)[4],

     having regard to Rule 115(2) and (3) of its Rules of Procedure,

     having regard to the motion for a resolution of the Committee on the Environment, Public Health and Food Safety,

    A. whereas on 27 June 2022, Corteva Agriscience Belgium B.V., based in Belgium, on behalf of Corteva Agriscience LLC, based in the United States, submitted an application to the national competent authority of the Netherlands for the placing on the market of foods, food ingredients and feed containing, consisting of or produced from genetically modified maize DP910521 (the ‘GM maize’);

    B. whereas the GM maize produces the Cry1B.34 toxin and is resistant to the herbicide glufosinate;

    C. whereas glufosinate is classified as toxic to reproduction 1B and therefore meets the ‘cut-off criteria’ set out in Regulation (EC) No 1107/2009 of the European Parliament and of the Council[5]; whereas the approval of glufosinate for use in the Union expired on 31 July 2018;

    D. whereas Cry1B.34 is a synthetic fusion protein combining Cry1B, Cry1Ca1 and Cry9Db1, engineered for insect resistance against lepidopteran pests, without demonstrated specificity to target species;

    E. whereas the genetic modification includes a two-step process using CRISPR/Cas9 to insert a ‘landing pad’, followed by microprojectile bombardment for gene expression cassette insertion;

    Lack of assessment of the complementary herbicide

    F. whereas Commission Implementing Regulation (EU) No 503/2013[6] requires an assessment of whether the expected agricultural practices influence the outcome of the studied endpoints; whereas, according to that Implementing Regulation, this is especially relevant for herbicide-tolerant plants;

    G. whereas the vast majority of GM crops have been genetically modified so that they are tolerant to one or more ‘complementary’ herbicides which can be used throughout the cultivation of the GM crop, without the crop dying, as would be the case for a non-herbicide tolerant crop; whereas a number of studies show that herbicide-tolerant GM crops result in a higher use of complementary herbicides, in large part because of the emergence of herbicide-tolerant weeds[7];

    H. whereas herbicide-tolerant GM crops lock farmers into a weed management system that is largely or wholly dependent on herbicides, and does so by charging a premium for GM seeds that can be justified only if farmers purchasing such seeds also spray the complementary herbicides; whereas heightened reliance on complementary herbicides on farms planting the GM crops accelerates the emergence and spread of weeds resistant to those herbicides, thereby triggering the need for even more herbicide use, a vicious circle known as ‘the herbicide treadmill’;

    I. whereas the adverse impacts stemming from excessive reliance on herbicides will worsen as regards soil health, water quality, and above and below ground biodiversity, and lead to increased human and animal exposure, potentially also via increased herbicide residues on food and feed;

    J. whereas assessment of herbicide residues and metabolites found on GM plants is considered outside the remit of the EFSA Panel on Genetically Modified Organisms (‘EFSA GMO Panel’) and is therefore not undertaken as part of the authorisation process for GMOs;

    Outstanding questions concerning Bt toxins

    K. whereas a number of studies show that side effects have been observed that may affect the immune system following exposure to Bt toxins and that some Bt toxins may have adjuvant properties[8], meaning that they can increase the allergenicity of other proteins with which they come into contact;

    L. whereas a scientific study found that the toxicity of Bt toxins may also be increased through interaction with residues from spraying with herbicides, and that further studies are needed on the combinatorial effects of ‘stacked’ events (GM crops which have been modified to be herbicide-tolerant and to produce insecticides in the form of Bt toxins)[9]; whereas assessment of the potential interaction of herbicide residues and their metabolites with Bt toxins is, however, considered to be outside the remit of the EFSA GMO Panel and is, therefore, not undertaken as part of the risk assessment;

    Bt crops: effects on non-target organisms

    M. whereas, unlike the use of insecticides, where exposure is at the time of spraying and for a limited period afterwards, the use of Bt GM crops leads to continuous exposure of the target and non-target organisms to Bt toxins;

    N. whereas the assumption that Bt toxins exhibit a single target-specific mode of action can no longer be considered correct and effects on non-target organisms cannot be excluded; whereas an increasing number of non-target organisms are reported to be affected in many ways;

    Member State and stakeholder comments

    O. whereas Member States submitted many critical comments to EFSA during the three-month consultation period[10], including that the list of relevant studies, identified in the literature review of the applicant, did not include studies on the fate of Bt proteins in the environment or on potential effects of Btcrop residues on non-target organisms even though such studies exist;

    P. whereas field trials conducted for compositional and phenotypic analysis of the GM maize failed to consider diverse environmental conditions and genetic backgrounds relevant to its cultivation, particularly in countries like Brazil;

    Q. whereas the toxicity assessment of Cry1B.34 does not account for combinatorial effects with plant constituents or residues from herbicide applications;

    R. whereas glufosinate, the complementary herbicide, is associated with significant risks to biodiversity, soil and water quality, and long-term ecosystem health;

    S. whereas the risk of gene flow to wild relatives such as teosinte, reported in Spain and France, raises concerns about transgene persistence and environmental impacts;

    T. whereas the monitoring requirements under Implementing Regulation (EU) No 503/2013 are inadequately addressed, with no independent verification of data provided;

    Ensuring a global level playing field and upholding the Union’s international obligations

    U. whereas the conclusions of the Strategic Dialogue on the Future of EU Agriculture[11] call on the Commission to reassess its approach on market access for agri-food imports and exports, given the challenge of diverging standards of the Union and its trading partners; whereas fairer trade relations, on a global level, coherent with goals for a healthy environment, were one of the main demands of farmers during the demonstrations of 2023 and 2024;

    V. whereas a 2017 report by the United Nations’ (UN) Special Rapporteur on the right to food found that, particularly in developing countries, hazardous pesticides have catastrophic impacts on health[12]; whereas the UN Sustainable Development Goal (‘UN SDG’) Target 3.9 aims by 2030 to substantially reduce the number of deaths and illnesses from hazardous chemicals and air, water and soil pollution and contamination[13];

    W. whereas the Kunming-Montreal Global Biodiversity Framework, agreed at the COP15 of the UN Convention on Biological Diversity (‘UN CBD’) in December 2022, includes a global target to reduce the risk of pesticides by at least 50 % by 2030[14];

    X. whereas Regulation (EC) No 1829/2003 states that GM food or feed must not have adverse effects on human health, animal health or the environment, and requires the Commission to take into account any relevant provisions of Union law and other legitimate factors relevant to the matter under consideration when drafting its decision; whereas such legitimate factors should include the Union’s obligations under the UN SDGs and the UN CBD;

    Reducing dependency on imported feed

    Y. whereas one of the lessons from the COVID-19 crisis and the still ongoing war in Ukraine is the need for the Union to end the dependencies on some critical materials; whereas in the mission letter to Commissioner Christophe Hansen, Commission President Ursula von der Leyen asks him to look at ways to reduce imports of critical commodities[15];

    Undemocratic decision-making

    Z. whereas, in its eighth term, Parliament adopted a total of 36 resolutions objecting to the placing on the market of GMOs for food and feed (33 resolutions) and to the cultivation of GMOs in the Union (three resolutions); whereas, in its ninth term, Parliament adopted 38 resolutions objecting to placing GMOs on the market and has adopted another 8 resolutions objecting to placing GMOs on the market already in the current 10th term ;

    AA. whereas despite its own acknowledgement of the democratic shortcomings, the lack of support from Member States and the objections of Parliament, the Commission continues to authorise GMOs;

    AB. whereas no change of law is required for the Commission to be able not to authorise GMOs when there is no qualified majority of Member States in favour in the Appeal Committee[16];

    AC. whereas the vote on 22 November 2024 of the Standing Committee on Plants, Animals, Food and Feed referred to in Article 35 of Regulation (EC) No 1829/2003 delivered no opinion, meaning that the authorisation was not supported by a qualified majority of Member States; whereas the vote on 17 December 2024 of the Appeal Committee again delivered no opinion;

    1. Considers that the draft Commission implementing decision exceeds the implementing powers provided for in Regulation (EC) No 1829/2003;

    2. Considers that the draft Commission implementing decision is not consistent with Union law, in that it is not compatible with the aim of Regulation (EC) No 1829/2003, which is, in accordance with the general principles laid down in Regulation (EC) No 178/2002 of the European Parliament and of the Council[17], to provide the basis for ensuring a high level of protection of human life and health, animal health and welfare, and environmental and consumer interests, in relation to GM food and feed, while ensuring the effective functioning of the internal market;

    3. Calls on the Commission to withdraw its draft implementing decision and to submit a new draft to the committee;

    4. Calls on the Commission to ensure convergence of standards between the Union and its partners in free trade agreement negotiations, in order to meet Union safety standards;

    5. Calls on the Commission not to authorise the GM maize due to the increased risks to biodiversity, food safety and workers’ health in line with the One Health approach;

    6. Expects the Commission, as matter of urgency, to deliver on its commitment[18] to come forward with a proposal to ensure that hazardous chemicals banned in the Union are not produced for export;

    7. Welcomes the fact that the Commission finally recognised, in a letter of 11 September 2020 to Members, the need to take sustainability into account when it comes to authorisation decisions on GMOs[19]; expresses its deep disappointment, however, that, since then the Commission has continued to authorise GMOs for import into the Union, despite ongoing objections by Parliament and a majority of Member States voting against;

    8. Urges the Commission, again, to take into account the Union’s obligations under international agreements, such as the Paris Climate Agreement, the UN CBD and the UN SDGs; reiterates its call for draft implementing acts to be accompanied by an explanatory memorandum explaining how they uphold the principle of ‘do no harm’[20];

    9. Instructs its President to forward this resolution to the Council and the Commission, and to the governments and parliaments of the Member States.

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Position of the Vice-President/High Representative on Madagascar’s interference regarding the Scattered Islands of the Indian Ocean – E-002354/2024(ASW)

    Source: European Parliament

    The Scattered Islands are part of the French Southern and Antarctic Territories, which are themselves associated with the EU through the status of Overseas Countries and Territories.

    The status of the Scattered Islands is being discussed between the French and Malagasy governments in the framework of a Joint Commission. This being a bilateral issue between a particular Member State and a third country, the EU has no competence to intervene.

    Last updated: 5 February 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Return of Greek antiquities to Greek museums – The case of ‘Las Incantadas’ – E-000440/2025

    Source: European Parliament

    Question for written answer  E-000440/2025
    to the Commission
    Rule 144
    Emmanouil Fragkos (ECR)

    The time has come for ‘The Enchanted Ones’ (Las Incantadas) – an ancient sculptural fragment from Thessaloniki, currently in the Louvre – to be returned to Greece, as part of the broader effort to return our cultural heritage. These sculptures, which adorned a Roman portico in the centre of Thessaloniki, were removed during the Ottoman period in the 19th century by the French diplomat/archaeologist Emmanuel Miller, raising ethical questions regarding their legal ownership.

    The sculptures are an integral part of the cultural and historical identity of Thessaloniki. Their return will allow Greeks and visitors to admire them in their geographical and historical context. Many museums internationally are increasingly recognising the importance of exhibiting antiquities in their place of origin.

    Furthermore, Greece has proven its ability to preserve and exhibit its historical treasures, unlike third countries. The return of ‘Las Incantadas’ will contribute to the restoration of historical justice.

    Finally, their return will reinforce France’s commitment to cultural cooperation and historical responsibility, strengthening Greek-French ties, in a spirit of sincere mutual respect.

    In view of the above, can the Commission say:

    • 1.Are there any developments towards or plans for the revision of Directive 2014/60/EU, so that Greece’s treasures can be returned to Greek museums?
    • 2.Does the Commission plan to adopt tools to support goodwill movements, so that the cultural heritage of one Member State stolen in an earlier period can be returned by another?

    Submitted: 2.2.2025

    Last updated: 5 February 2025

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  • MIL-OSI Europe: EIB Board approves €2.4 billion of financing for business innovation, energy grids, flood resilience and transport

    Source: European Investment Bank

    • Discussion of EIB Global strategic reorientation and support for European electricity grids
    • Energy-saving for businesses across Europe
    • Financing to expand hydrogen refuelling in Europe and rebuild damaged heating infrastructure in Ukraine

    The European Investment Bank (EIB) today approved €2.4 billion of new financing for business investment, clean energy, transport, telecommunications and flood protection in Europe.

    The EIB Board of Directors also discussed the strategic orientation of EIB Global. Reflecting the changing geopolitical context and even better aligning with EU external policy priorities, the Bank’s investments outside of the EU will continue contribute to a stronger Europe in a more stable, more prosperous and sustainable world.

    The Board examined ways to further increase support for electricity networks in Europe. In 2024, the Bank mobilised over €100 billion of additional investment for energy and financed a record high of €8.5 billion for electricity grids, which mobilised 40% of total EU investment in electricity grids.

    “We are ahead of the investment targets of the RePowerEU programme to bring cheaper and clean energy to European households and businesses. Last year the EIB marked a record in investment in energy grids and inter connectors, to bolster Europe’s competitiveness and security”, said EIB Group President Nadia Calviño.

    Energy networks, flood defences

    The first EIB Board of Directors of the year approved financing totalling €791 million to expand hydrogen production for transport, strengthen electricity distribution, and improve flood protection in Poland.

    This includes funding to boost research into and development of hydrogen and to increase the number of hydrogen refueling stations for cars and trucks.

    In support of Ukraine, the Board paved the way for financing of €100 million to repair damaged municipal heating infrastructure in the country.

    Outside the EU, the EIB agreed to provide financing to upgrade and extend electricity distribution in Panama. The goal is to increase renewable/energy use, bolster grids and expand power distribution to unserved communities in the country.

    Green innovation

    The Board also approved financing totalling €879 million for innovation and investment by businesses to improve energy efficiency and environmental sustainability.

    This includes backing automotive-component research and development at 15 manufacturing sites across Europe and low-carbon glass production in France and Spain.

    The EIB endorsed a new securitisation scheme to support Dutch business investment in climate action and environmental sustainability.

    Better connections

    The Board agreed €768 million in financing for transport and telecom networks in the EU and beyond.

    In Colombia, the Board approved EUR 418 million for construction of and the acquisition of trains for Metro Line 1 in the capital Bogota – a service expected to carry more than 1 million passengers a day when operational.

    The Board also gave the green light for financing of €350 million to expand mobile-phone networks across Italy.

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers

    Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Making financial aid conditional on Algeria’s cooperation on migration – E-000289/2025

    Source: European Parliament

    Question for written answer  E-000289/2025
    to the Commission
    Rule 144
    Jean-Paul Garraud (PfE)

    The European Union and its Member States, particularly France, send a significant amount of aid to Algeria. Between 2017 and 2022, France gave Algeria approximately EUR 842 million in development aid[1]. Similarly, the EU provided Algeria with a total of EUR 273.3 million of financial assistance between 2011 and 2015[2], plus it adopted projects totalling EUR 40 million in 2023[3].

    Despite these contributions, the Algerian economy is still fragile and, to a great extent, dependent on hydrocarbons, which comprise over 86% of its exports. This economic situation is fuelling significant immigration to Europe. In addition, Algeria does not cooperate in any way in either the readmission of irregular migrants from Algeria or the fight against illegal immigration.

    • 1.Does the Commission intend to make EU financial aid conditional on concrete commitments by Algeria on the management of migration flows, particularly regarding the readmission of its nationals?
    • 2.What measures are planned to systematically incorporate migration conditionality into agreements with Algeria and ensure effective cooperation on migration?
    • 3.How does the Commission ensure that the funding sent to Algeria goes towards sustainable development and reduces the causes of emigration rather than exacerbating migratory instability?

    Submitted: 23.1.2025

    • [1] https://www.20minutes.fr/economie/4111460-20240923-france-donne-800-millions-algerie-tous-ans-pourquoi-affirmations-doivent-etre-nuancees
    • [2] https://ec.europa.eu/commission/presscorner/detail/en/ip_17_487
    • [3] https://ec.europa.eu/commission/presscorner/detail/en/ip_17_487
    Last updated: 5 February 2025

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  • MIL-OSI United Nations: ‘No Appetite for Another Extension’ of South Sudan Peace Agreement, Mission Head Tells Security Council, Urging Leaders Focus on Benchmarks without Delay

    Source: United Nations 4

    The Revitalized Peace Agreement in South Sudan is facing challenges due to low political will, trust deficit among the parties to the accord and lack of predictable funding, the Security Council heard today from senior officials assisting peacebuilding in that country.

    Charles Tai Gituai, Interim Chairperson of the Reconstituted Joint Monitoring and Evaluation Commission — the official oversight body responsible for monitoring and evaluating the status of implementation of the 2018 Revitalized Peace Agreement — said that the parties in September 2024 agreed to extend the transitional period from 22 February 2025 to 22 February 2027, with elections rescheduled to December 2026.  While the National Election Commission has completed its plans and has opened offices in the 10 states, financial constraints remain a hindrance in election preparations.

    Further, election laws stipulate that parties with armed forces cannot be registered until they relinquish their forces — this includes the Sudan People’s Liberation Movement/Army in Opposition and others within the South Sudan Opposition Alliance, he said.  This underscores the need to hasten the unification of forces so that these parties can participate in the elections.  Also expressing concern about persistent levels of intercommunal violence in some parts of the country, he noted that the Sudan conflict exacerbates the humanitarian situation and has caused a huge influx of returnees and refugees in South Sudan.  Further, oil production — the country’s main source of foreign earnings — was disrupted in the second quarter of 2024 because of that conflict.

    Welcoming the work of the National Constitutional Amendment Committee and the Judicial Reform Committee, he said “the success of these institutions demonstrates that with funding availability, the Peace Agreement institutions and mechanisms can fully discharge their mandates”.  The permanent ceasefire continues to hold, though recent skirmishes in Western Equatoria State are concerning.  Commending the mediation talks ongoing in Nairobi, he said:  “The people of South Sudan are looking forward to a positive outcome for these talks and hoping that it will bring practical and enhanced transformative approaches in addressing the root causes of conflict.”  The Council must consider a visit to South Sudan to mobilize resources and political support to help South Sudan achieve its first democratic elections in December 2026, he added.

    Also addressing the Council was Nicholas Haysom, Special Representative of the Secretary-General and Head of the United Nations Mission in South Sudan (UNMISS), who noted that this month marks the beginning of the fourth extension of the Revitalized Peace Agreement.  “There is no appetite for another extension,” he stressed.  Rather, “there is strong desire for the leaders to focus on the benchmarks set out in the Peace Agreement without further delay”.  Urging parties to engage constructively, he acknowledged progress in some areas and welcomed the declarations of Governors to expand the civic and political space in their states.  Also noting expanded access to justice, including through mobile courts, he pointed to the adoption of a national community violence reduction strategy.  The National Elections Commission has launched its website and is rolling out a voter education strategy.

    However, none of these achievements “are sufficient to significantly move the needle” on the critical conditions required for holding elections and adopting a new constitution, he added.  Stressing the importance of “low-hanging fruit” measures such as voter registration, he reiterated that “the clock is already ticking on the extended transitional period”.  Noting that constitution and census timelines do not fit into the framework for a December 2026 election, he added:  “we have not yet seen the previously promised harmonized work plan with an operational timetable for elections.”  The lack of Government funding is slowing down these processes, he said, underscoring that “neither UNMISS nor the international community or the electoral management bodies can provide the full measure of support if these critical decisions are not taken.”

    “My country is struggling to transition from instability to stability through implementation of the R-ARCSS [Revitalised Agreement on the Resolution of the Conflict in South Sudan],” observed Edmund Yakani, Executive Director of the Community Empowerment for Progress Organization. Noting that the Tumani Initiative under Kenya’s co-mediation provides an opportunity for transitioning the country from violence to peace, he added:  “We are impressed by the process of embracing inclusive Government”.  The only option for a peaceful transition is through elections, he said, pointing to the citizens’ disappointment over the last elections postponement.  Noting that deadly intercommunal violence poses a challenge for the country’s transition, he said that elections will be credible if the Government creates conditions for holding them.

    For her part, the representative of South Sudan acknowledged the concerns about delays in the transition process and assured the Council that “every effort is being made to accelerate key milestones, particularly the preparations for free, fair and credible elections”.  Her Government is committed to providing the necessary funding and institutional support to advance the electoral process and has taken significant steps to draft a permanent constitution “that will reflect the aspirations of the South Sudanese people”, she pledged.  The deployment of the Necessary Unified Forces remains a priority, and South Sudan is working to overcome logistical and financial challenges to complete Phase II of training and deployment, she added.

    Urging all parties, including opposition groups, to negotiate in good faith within the framework of the Revitalized Agreement rather than seeking a parallel process that could complicate the peace road map, she expressed concern about the deteriorating situation in Sudan.  Recalling her country’s appeals to Sudan to cease harbouring rebels who actively destabilize its security efforts, she said this plea has gone unanswered.  “The people of South Sudan have been deeply affected by videos depicting heartless killings” of their nationals, she said, adding that these are believed to be incited by General Yassir Al-Atta, Assistant to the Commander in Chief, who claimed that 65 per cent of the Rapid Support Forces are South Sudanese.  Despite the anger provoked by this, her Government continues to call for restraint from its people, she said.

    As Council members weighed in, they stressed the need to advance progress towards elections.  The representative of Sierra Leone, also speaking for Algeria, Guyana and Somalia, highlighted the need for a credible and inclusive electoral process.  For that, security sector reform and disarmament, demobilization and reintegration of armed groups remains crucial.  He also called for urgent action to finalize transitional security arrangements and establish a middle command structure for the Necessary Unified Forces.  While the electoral road map’s implementation is critical for elections, consideration should be given to the participation of internally displaced people and returnees, he pointed out.

    Pakistan’s delegate, noting that elections have been rescheduled to take place in 2026, encouraged South Sudan to use the two-year extension to move towards a credible path to elections.  “This extension must not become a missed opportunity”, Greece’s delegate said, while Slovenia’s delegate urged the Government to secure the necessary funding for timely implementation of the Revitalized Peace Agreement.  “Promises must be turned into reality,” said Denmark’s representative, also calling for a clear elections plan and resources for election-related bodies.

    The representative of the United States said the transitional Government failed to conclude the transitional period and use public revenue transparently for public needs.  Despite significant international support, South Sudan’s President and other political leaders “have not demonstrated political will to seriously move towards elections”, he observed, adding:  “In fact, they have made efforts worse.”  While the 2005 Comprehensive Peace Agreement was a “pivotal moment in South Sudan’s history that brought hope to a people long ravaged by war and oppression”, two decades later, that country’s leaders failed to meet their people’s expectations.  He called on the transitional Government to start using public revenues for appropriate public purposes rather than to benefit the “small corrupt elite”.

    Panama’s delegate was one among several Council members who expressed concern over persisting sexual and gender-based violence, noting that women and girls, as young as 11, have fallen victims to this crime.  Hence, the Mission’ work is crucial, he stressed, highlighting the need for the equitable participation of women, young people and communities in peacebuilding.  The representatives of the Republic of Korea and France also expressed support for UNMISS, highlighting its many crucial roles, which range from enabling humanitarian assistance to assisting with election preparations.

    China’s delegate, Council President for February, speaking in his national capacity, said that, prior to the meeting, his country, using virtual technologies, conducted an underground inspection of the Mission’s work.  A new “batch” of Chinese peacekeepers have recently completed their rotation and handover, he reported.  He welcomed South Sudan’s steps towards elections and called on the international community to respect its sovereignty and ownership.  Further, “sanctions, such as arms embargo, are constraining security capacity building in South Sudan and should be adjusted or lifted”, he stressed.

    Along similar lines, the Russian Federation’s delegate said that sanctions make it difficult to strengthen South Sudan’s security and called for a review of the parameters of the arms embargo.  Voting issues are South Sudan’s internal affairs, he observed, adding that the country’s leadership has managed to establish relative stability and attain progress in State-building and resolving security issues.

    MIL OSI United Nations News

  • MIL-OSI Asia-Pac: CFS urges public not to consume a batch of French raw milk cheese suspected to be contaminated with Shiga toxin-producing E. coli

    Source: Hong Kong Government special administrative region

    CFS urges public not to consume a batch of French raw milk cheese suspected to be contaminated with Shiga toxin-producing E. coli
    CFS urges public not to consume a batch of French raw milk cheese suspected to be contaminated with Shiga toxin-producing E. coli
    ******************************************************************************************

        The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department today (February 5) urged the public not to consume a batch of raw milk cheese imported from France due to possible contamination with Shiga toxin-producing Escherichia coli (STEC). The trade should stop using or selling the affected product immediately if they possess it.    Product details are as follows:Product name: MORBIER LAIT CRU DE SCEY AOP 7KG MEULEBrand: PERRIN VERMOTPlace of origin: FrancePack size: 6.56 kilogramsBest-before date: February 23, 2025Batch number: 34008Importer: Culina HK Limited    “The CFS received a notification from the Rapid Alert System for Food and Feed of the European Commission that the above-mentioned product is being recalled in France due to possible contamination with STEC. Upon learning of the incident, the CFS immediately contacted local importers for follow-up. A preliminary investigation found that the above-mentioned importer had imported into Hong Kong the affected batch of the product concerned,” a spokesman for the CFS said.    The importer concerned has stopped sale and removed the affected batch of the product from shelves and initiated a recall according to the CFS’s instructions. Enquiries about the recall can be made to the importer’s hotline at 2342 3221 during office hours.    “People will contract STEC-causing gastro-intestinal disease through consumption of contaminated water or undercooked and contaminated foods. Intestinal bleeding and serious complications such as hemolytic uraemic syndrome may also develop in some people,” the spokesman said.    The CFS will alert the trade to the incident, and will continue to follow up and take appropriate action. The investigation is ongoing.

     
    Ends/Wednesday, February 5, 2025Issued at HKT 19:55

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI United Nations: Ms. Bjørg Sandkjær of Norway – Assistant Secretary-General for Policy Coordination in the United Nations Department of Economic and Social Affairs (UN DESA)

    Source: United Nations MIL-OSI 2

    nited Nations Secretary-General António Guterres announced today the appointment of Bjørg Sandkjær of Norway as Assistant Secretary-General for Policy Coordination in the United Nations Department of Economic and Social Affairs (UN DESA).  She will succeed Maria-Francesca Spatolisano of Italy, to whom the Secretary-General and the Under-Secretary-General for Economic and Social Affairs are grateful for her commitment and dedicated service to the Organization.

    Ms. Sandkjær has over 26 years of experience in policymaking and international development.  She served as Deputy Minister for International Development at the Norwegian Ministry of Foreign Affairs since 2021, having been responsible for the development of Norway’s strategic vision and engagement in international development cooperation issues and played a key role in the negotiations on Norway’s budgetary allocations for official development assistance while also leading her country’s engagement in key sustainable development processes and fora, including the High-level Political Forum on Sustainable Development.

    Ms. Sandkjær also served as the deputy leader of the Standing Committee on Health and Welfare of the Oslo City Council and held several positions at the Norwegian Agency for Development Cooperation (Norad), Gavi, the Vaccine Alliance, the United Nations Economic Commission for Africa (UNECA), and the Church of Norway.

    Ms. Sandkjær holds a master’s degree in Demography from the London School of Economics and Political Science (LSE), United Kingdom and an undergraduate degree from the University of Oslo, Norway.  She is fluent in English and Norwegian.

    MIL OSI United Nations News

  • MIL-OSI Canada: Prime Minister to travel to Paris and Brussels to strengthen transatlantic co-operation and advance global progress on AI

    Source: Government of Canada – Prime Minister

    The Prime Minister, Justin Trudeau, today announced that he will travel to Paris, France, and to Brussels, Belgium, from February 8 to 12, 2025, to strengthen transatlantic co-operation and advance global progress on artificial intelligence (AI).

    In Paris, the Prime Minister will participate in the AI Action Summit hosted by the President of France, Emmanuel Macron. He will engage with leaders across business and public policy about how we can power the next generation of AI to unlock good-paying jobs and opportunities. Canada is at the centre of this shift, accelerating the innovation and economic potential of AI, while being thoughtful about navigating trust and safety. Seizing this moment is important for the future of Canadian innovation, economic productivity, and our economic security. At the Summit, the Prime Minister will deliver a keynote speech underscoring Canada’s role as a global leader in AI and highlight the importance of working in partnership to develop these technologies responsibly and safely.

    As this year’s G7 President, Canada is committed to working alongside international partners in the face of geopolitical instability and threats against the rules-based international order – challenges that have been accelerated by technology, disinformation, and climate change. On the margins of the Summit, Prime Minister Trudeau will meet with other world leaders to tackle these challenges and renew progress on shared priorities, including international trade, peace and security, and global economic stability.

    Prime Minister Trudeau will then travel to Brussels for a Canada-European Union (EU) Leaders’ Meeting, where he will join his EU counterparts to help secure a strong, prosperous future for people on both sides of the Atlantic. The leaders will discuss ways to advance our collective efforts to strengthen transatlantic security, protect the rules-based international order, continue supporting Ukraine, and create opportunities for our peoples, building on the success of the Canada-EU Comprehensive Economic and Trade Agreement (CETA). While in Brussels, the Prime Minister will also meet with the Secretary General of the North Atlantic Treaty Organization (NATO), Mark Rutte, and reaffirm Canada’s commitment to working with the Alliance to uphold democracy, peace, and security.

    Throughout the trip, Prime Minister Trudeau will strengthen and deepen transatlantic co-operation, advance efforts to solve the world’s most pressing challenges, and deliver on the priorities of Canadians.

    Quote

    “Transatlantic collaboration – in defence and security, in innovation and energy, in business and trade – are essential to Canada’s success. In Paris and Brussels, we will strengthen Canada’s alliances and partnerships, and put Canadians at the forefront of every opportunity, including artificial intelligence.”

    Quick Facts

    • This will be Prime Minister Justin Trudeau’s 11th official visit to France.
    • France is a key ally for Canada on the international stage. France is a member of the North Atlantic Treaty Organization (NATO), the G7, and the G20, as well as a permanent member of the United Nations (UN) Security Council, a founding member of the European Union (EU), and a leading partner in La Francophonie.
    • In 2023, France was Canada’s third-largest merchandise export market in the EU and its 12th-largest trading partner globally, with two-way merchandise trade totalling $12.9 billion.
    • The Artificial Intelligence (AI) Action Summit in Paris is the third global summit of its kind. It follows the AI Seoul Summit, which Prime Minister Trudeau attended virtually last year, and the AI Safety Summit that was hosted by the UK in 2023.
    • Representatives from Canada’s federal research granting agencies will be participating in the AI Action Summit.
    • In Budget 2024, the Government of Canada announced a $2.4 billion package of measures to secure Canada’s AI advantage. These investments will accelerate job growth in Canada’s AI sector and beyond, boost productivity by helping researchers and businesses develop and adopt AI, and ensure this is done responsibly.
    • This will be Prime Minister Justin Trudeau’s sixth official visit to Belgium.
    • Canada and the EU share a strong partnership and a long history of close people-to-people ties, commercial relations, and institutional co-operation. We work together on trade, international peace and security, digital innovation, the fight against climate change, and migration, among other priorities.
    • With its 27 Member States, the EU as a group is Canada’s second-largest destination for goods and services exports, after the United States of America. In 2023, trade between Canada and the EU reached a total of $157.3 billion in combined goods and services.
    • The Canada-EU Comprehensive Economic and Trade Agreement (CETA) was signed in 2016 and has been provisionally applied since 2017. Since then, bilateral merchandise trade between Canada and the EU has grown by more than 60 per cent.
    • Canada is a founding member of NATO. The Alliance is a cornerstone of Canadian security and defence policy and an important platform for Canada’s contributions to international peace and security.

    Associated Links

    MIL OSI Canada News

  • MIL-OSI Europe: United Nations/Environment – France’s ratification of the UN agreement on marine biodiversity (5 Feb. 2025)

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    On 5 February, France deposited with the United Nations Secretary-General its ratification instrument for the Agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas beyond National Jurisdiction, known as the BBNJ Agreement.

    This deposit completes the ratification process, following Parliament’s unanimous adoption of the bill presented by the Minister for Europe and Foreign Affairs, Jean-Noël Barrot, on 5 November 2024.

    France is fully mobilized to achieve the 60 ratifications necessary for the agreement to come into force, between now and the United Nations Ocean Conference (UNOC), which will be held in Nice in June 2025.

    MIL OSI Europe News

  • MIL-OSI Global: What Trump’s proposal to ‘take over’ Gaza could mean for Arab-Israeli relations

    Source: The Conversation – UK – By Simon Mabon, Professor of International Relations, Lancaster University

    US president Donald Trump has made the extraordinary suggestion that the US should seize control of the Gaza Strip and permanently remove its Palestinian inhabitants. Speaking to the press at the White House alongside the Israeli prime minister, Benjamin Netanyahu, Trump said the US would “own [Gaza] and be responsible”.

    When pushed on the practicalities of such a move, Trump replied that the US would “do what is necessary” and develop the land into the “riviera of the Middle East”. “It’ll be something that the entire Middle East can be very proud of,” he said.

    The secretary of state, Marco Rubio, later wrote in a post on X: “The United States stands ready to lead and Make Gaza Beautiful Again. Our pursuit is one of lasting peace in the region for all people.”

    Trump’s declaration has been celebrated by many on the Israeli right, who have long supported the removal of Palestinian residents from Gaza. But it has also been met with anger across the Arab world and beyond.

    Francesca Albanese, the UN special rapporteur on the occupied Palestinian territories, called Trump’s proposal “incitement to commit forced displacement”. Some politicians have described his comments as an endorsement of ethnic cleansing.

    Trump first uttered his desire to “clean out” Gaza a week before this announcement. This prompted foreign ministers from Saudi Arabia, the United Arab Emirates, Qatar, Jordan and Egypt to sign a statement affirming their rejection of efforts to “compromise Palestinians’ unalienable rights, whether through settlement activities, or evictions or annex of land or through vacating the land from its owners”.

    The statement, made by a group of states not generally known for operating in a unified manner, ended by congratulating Rubio on his appointment. But the message to the Trump administration was clear: the two-state solution is the only viable solution to the Israeli-Palestinian conflict.

    Trump’s latest proclamations will deepen schisms across the region between Israel and its Arab neighbours, and prompt questions about the future role of the US in the Middle East.

    Egypt and Jordan’s response

    Any attempt by Washington to seize control of Gaza, which would almost certainly involve military force, would evoke parallels with 1948 and what is known in Arabic as the nakba, or “the catastrophe”.

    At that time, many Palestinians had to flee their land in what is now Israel, setting in motion decades of conflict between Israel and neighbouring Arab states. Acts of terrorism in the intervening years have cost thousands of lives on all sides.

    Trump’s call for Arab states to take in Palestinians from Gaza – who he says have no alternative but to abandon the coastal strip – ignores the strength of feeling across the world about the Palestinian issue.

    Egypt, for example, has long rejected the idea of housing Gaza’s population, amid growing socio-economic pressures and longstanding fears of Islamist violence. And Jordan has been steadfast in its desire not to host more Palestinians, having already provided refuge for people fleeing Palestine in 1948 and 1967. It has, more recently, also become the main destination for refugees from Lebanon, Syria and Iraq.

    On February 5, Egypt’s foreign minister, Badr Abdelatty, met with the prime minister of the Palestinian Authority, Mohammed Mustafa, in Cairo. According to an Egyptian foreign ministry statement, the pair jointly rejected Trump’s proposal for a US takeover of Gaza.

    Egypt and Jordan have both signed peace deals with Israel. But relations have not always been cordial, and the destruction of Gaza has exacerbated these tensions. Trump’s latest comments, as well as those from the Israeli right, will only worsen the situation.

    Relations with Saudi Arabia

    During Trump’s first term, his administration secured a significant diplomatic victory by brokering the Abraham accords. The accords, all of which were signed in the latter half of 2020, normalised relations between Israel and the United Arab Emirates, Bahrain and later Morocco.

    The signatories to the Abraham accords have been conspicuously quiet about Israel’s actions in Gaza. And it remains to be seen what effect Trump’s proposed Gaza takeover could have on relations between these states. The United Arab Emirates, Bahrain and Morocco have, at the time of writing, not yet announced their response.

    Saudi Arabia, on the other hand, has remained the jewel in the diplomatic crown seemingly out of reach both for the Trump administration and that of his successor, Joe Biden. The kingdom occupies a prominent place within the Arab and Muslim world by virtue of its custodianship of the two holy mosques of Mecca and Medina.

    Crown Prince Mohammed bin Salman, Saudi Arabia’s de facto ruler, has taken an increasingly hard line on normalisation with Israel in recent months, suggesting that such a deal would not be possible without the establishment of a Palestinian state.

    In a statement released on February 5, the Saudi foreign ministry said it rejected “any attempts to displace the Palestinians from their land”. And bin Salman has affirmed the kingdom’s position that it would not establish ties with Israel without a Palestinian state.

    During his press conference, Trump suggested that Saudi Arabia was not demanding a Palestinian homeland. But statements from Saudi officials since then contradict this narrative and point to increasingly divergent views on Gaza – and indeed, the future of Palestine – between Riyadh and Washington.

    Fundamentally, Trump’s remarks are the latest in a long line of bombastic diplomatic flourishes that appear designed to provoke as much as to enact policy. But in this case, even rhetorical provocations will have consequences for already strained relations between Israel and the wider Arab world.

    Simon Mabon receives funding from the Carnegie Corporation of New York. He is a Senior Research Fellow at the Foreign Policy Centre in London.

    ref. What Trump’s proposal to ‘take over’ Gaza could mean for Arab-Israeli relations – https://theconversation.com/what-trumps-proposal-to-take-over-gaza-could-mean-for-arab-israeli-relations-249184

    MIL OSI – Global Reports

  • MIL-OSI: Bpce: Appointments of Mohamed Kallala and Philippe Setbon to the Executive Management Committee of BPCE

    Source: GlobeNewswire (MIL-OSI)

    Appointments of Mohamed Kallala and Philippe Setbon to the Executive Management Committee of BPCE

    Paris, February 5, 2025

    Mohamed Kallala, Chief Executive Officer of Natixis, in charge of Corporate & Investment Banking, and Philippe Setbon, Deputy Chief Executive Officer of Natixis, in charge of Asset & Wealth Management, are joining the Executive Management Committee of BPCE, following their direct reporting to Nicolas Namias, CEO of BPCE, since January 1, 2025. The Executive Management Committee of BPCE now has a total of twelve members.

    Biography of Mohamed Kallala

    Mohamed Kallala started his career in 1993 as an ALM trader for BNP Paribas before being appointed Head of Mergers & Acquisitions at Crédit Agricole Indosuez in 1995. In 2000, he founded Global Equities Corporate Finance. In 2005, he joined Natixis and became Head of Real Estate Specialist Advisory. In 2010, Mohamed was appointed Head of Real Estate Finance before becoming Global Head of Investment Banking in 2016. In early 2020, Mohamed Kallala became Global Head of Natixis Corporate & Investment Banking’s Global Markets activity, before becoming its Global Co-Head later the same year. In 2023, he was appointed Global Head of Natixis Corporate & Investment Banking businesses. In January 2025, he was appointed Chief Executive Officer of Natixis, in charge of Corporate & Investment Banking.

    Biography of Philippe Setbon

    Philippe Setbon began his career in 1990 as a financial analyst with Barclays Bank in Paris, before working for Groupe Azur-GMF for 10 years as Head of Asset Management. He then joined Generali Group in 2004 where he held a succession of senior roles including CEO of Generali Investments France, CEO of Generali Investments Europe Sgr and Chief Investment Officer for the whole Generali Group. He joined Groupama in 2013 as CEO of Groupama Asset Management. In 2019, he became CEO of Ostrum Asset Management, then CEO of Natixis Investment Managers in 2023. Philippe Setbon has been President of the French Asset Management Association (AFG) since June 2022. In January 2025, Philippe Setbon was appointed Deputy Chief Executive Officer of Natixis, in charge of Asset & Wealth Management.

    For Nicolas Namias, CEO of BPCE:I would like to welcome Mohamed Kallala and Philippe Setbon to the Executive Management Committee, recognizing their professionalism and the excellent results they have achieved for the two global businesses of Groupe BPCE. This also demonstrates our commitment to the continued development of Natixis CIB and Natixis IM in service of their direct clients, as well as those of the Banques Populaires and Caisses d’Epargne. This move further enriches our Executive Management Committee by providing a balanced representation of each of the Group’s businesses, including retail banking and insurance as well as those with a global dimension, and our major functions. Now comprising 12 members, the Executive Management Committee illustrates the richness of career paths within the group, blending expertise and experience, and our ability to attract and nurture talent.”

    © Photo Credits :
    Mohamed Kallala : Fabrice Vallon
    Phlippe Setbon : Noura Felfel

    About Groupe BPCE

    Groupe BPCE is the second-largest banking group in France and the fourth in Europe. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group’s financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody’s (A1, stable outlook), Standard & Poor’s (A+, stable outlook), Fitch (A+, stable outlook) and R&I (A+, stable outlook).

    Attachment

    The MIL Network

  • MIL-OSI: Bpce: Groupe BPCE Results Q4-24 & 2024

    Source: GlobeNewswire (MIL-OSI)

    Paris, February 5, 2025

    STRONG PERFORMANCES IN 2024

    Excellent performance in Q4-24 •
    • Net income (Group share) of €3.5bn in 2024, strong growth of +26%
    • VISION 2030: dynamic implementation of the strategic project •

    Q4-24: net banking income at €6bn, up +11% YoY; very good performance achieved by retail banking and the global businesses; net income of €913m, +140% YoY
    2024: net banking income of €23.3bn, 5% growth YoY driven by all the business lines; gross operating income up by a strong 18% notably thanks to good cost control; reported net income2of €3.5bn, up by 26% YoY

    Very high levels of solvency and liquidity with a CET1 ratio of 15.6%3 and a LCR of 142%4 at end-2024

    RETAIL BANKING & INSURANCE    Sharp 14% growth in revenues in Q4-24 and 4% in 2024 driven in particular by the confirmed rebound in net interest margins and commissions. The Banque Populaire and Caisse d’Epargne retail banking networks enjoyed sustained growth in their customer bases with the addition of 846,000 new clients6in 2024

    • Local & regional financing: €84bn of funding for our clients of individual, professional, corporate, and institutional clients; 1% year-on-year growth in loan outstandings, rising to a total of €724bn at end-December 2024
    • Deposits & savings7up by €5bn year-on-year, reaching a total of €681bn at end-December 2024
    • Insurance: gross inflows8 of €14.9bn in life insurance in 2024. Premiums up 15% in 2024 YoY. The equipment rate9for P&C and Personal Protection insurance stood at ~35% at end-December 2024
    • Financial Solutions & Expertise: net banking income remained stable in Q4-24 and rose by 2% in full-year 2024 vs. a high basis of comparison in 2023. Good performance reported by the Leasing and Consumer Credit activities
    • Digital & Payments: +5% growth in the number of card transactions at end-December 2024 YoY. Oney net banking income up 8% in full-year 2024

    GLOBAL FINANCIAL SERVICES Strong revenue growth, +8% in Q4-24 and full-year 2024; very dynamic business development in Corporate & Investment Banking, net banking income up 5% in Q4-24 year-on-year; very good performance achieved by Asset Management with net banking income up 11% in Q4-24 year-on-year

    • Corporate & Investment Banking: net banking income of €1.1bn in Q4-24; +19% growth in revenues in Q4-24 YoY for Global Markets, driven by the Fixed-income and Equity segments; net banking income up 2% for Global Finance, driven in particular by Trade Finance activities, and up by 6% for Investment Banking activities in Q4-24
    • Asset & Wealth Management: Natixis IM’s assets under management up 13% YtD, reaching an all-time high of €1,317bn at end-December 2024; very high net fund inflows of €40bn in full-year 2024, particularly from Fixed-Income expertise; net banking income of €968m in Q4-24, reflecting strong growth of 11% YoY.

    Expenses remained stable year-on-year in 2024 and good improvement in the cost/income by 3.5pp

    Prudent provisioning policy: cost of risk of €2.1bn in 2024, i.e. 24bps, standing below the announced guidance level; €596 million in Q4-24, down 20% year-on-year

    Financial strength: CET1 ratio of 15.6%3at end-December 2024; liquidity reserves of €302bn

    VISION 2030 strategic project: fast-paced and dynamic implementation  

    • April 2024: announcement of the project to acquire SGEF, making Groupe BPCE the European leader in equipment leasing; completion of the transaction scheduled for Q1-25.
    • June 2024: plan to create France’s No. 1 payment processor in partnership with BNP Paribas with a view to becoming one of the top 3 players in Europe.
    • June 2024: commercial partnerships with two leaders in their respective markets: Leroy Merlin and Verisure
    • January 2025: announcement of plan to create Europe’s leading asset manager in a joint venture with Generali.
    • Plans to create a shared technology platform for retail banking activities

    1 See the notes on methodology annexed to this press release 2Group share 3 Ratio estimated at end-December 2024 integrating pro forma the coming impact of SGEF and Nagelmackers acquisitions 4Average end-of month LCRs in Q4-24 5 Estimated at end-December 2024 6 196,100 new active clients over the year 7 On-balance sheet savings & deposits within the scope of the Retail Banking & Insurance business unit 8 Excluding reinsurance treaty with CNP Assurance 9 Scope of the individual clients in the BP and CE retail banking networks

    Nicolas Namias, Chairman of the Management Board of BPCE, said: “2024 marked the return of strong performance across all our business lines. Groupe BPCE saw its earnings grow by 26% over the year as a whole and by a total of 140% in the fourth quarter of 2024.

    Banques Populaires and Caisses d’Epargne benefited from the confirmed rebound in their net interest margin along with an extremely buoyant level of commercial activity, illustrated by the arrival of 846,000 new clients in 2024. All the business lines serving the retail banking networks – Insurance, Payments, Financial Solutions & Expertise – generated growth both in full-year 2024 and in the 4thquarter of the year. It also proved to be a remarkable quarter and full-year period for the global business lines managed by Natixis CIB and Natixis IM with, in particular, 19% revenue growth in our capital markets activities in the fourth quarter, and a record-breaking 40 billion euros in net inflows for our asset management activities in the course of the year.

    These results testify to the dynamic implementation of our VISION 2030 strategic project. In the space of a year, we announced the planned acquisition of SGEF, making the Group the front-ranking European equipment leasing specialist, an initiative due to be completed early this year; the creation, with BNP Paribas, of the French leader in payment processing, with a view to becoming one of the top 3 players in Europe; plans to create a champion in asset management with Generali that would be No.1 in Europe in terms of revenues and one of the top 10 asset management specialists worldwide. Today, we announce our ambition to create a common technological platform for the Banques Populaires and Caisses d’Epargne by setting up a joint information system. Designed to further enhance the Group’s performance, this project sets out to optimize the service offered to our 35 million clients and to improve the day-to-day lives of our employees and, in the process, support the development of retail banking in France. These projects give concrete expression to our determination to pursue well-balanced development across our three priority growth areas: France, Europe, and the rest of the world.

    These extremely exciting prospects for the months ahead will be driven by our staff of employees, who this year demonstrated their tremendous mobilization and enthusiasm during the Olympic & Paralympic Games Paris 2024. We gave expression to our promise to share the Games with as many people as possible in every territorial region of France. This event enabled us to strengthen our ties with our clients both in regional France and around the world, and we will continue to foster these relationships by contributing to the sustainable development of the economies in which we do business, in line with our cooperative values.”

    The quarterly financial statements of Groupe BPCE for the period ended December 31, 2024, approved by the Management Board on February 3, 2025, were verified and reviewed by the Supervisory Board, at a meeting chaired by Eric Fougère on February 5, 2025.

    In this document, 2023 figures have been restated on a pro-forma basis (see annex for the reconciliation of reported data to pro-forma data).

    Groupe BPCE

    €m1 Q4-24 Q4-23 % Change 2024 2023 % Change
    Net banking income 6,046 5,462 11% 23,317 22,198 5%
    Operating expenses (4,184) (4,129) 1% (16,384) (16,328) 0%
    Gross operating income 1,862 1,332 40% 6,933 5,870 18%
    Cost of risk (596) (744) (20)% (2,061) (1,731) 19%
    Income before tax 1,262 537 135% 4,956 4,182 19%
    Income tax (326) (159) 106% (1,357) (1,340) 1%
    Net income – Group share 913 381 140% 3,520 2,804 26%
    Exceptional items (64) (100) (35)% (155) (122) 28%
    Underlying2net income – Group share  977 481 103% 3,675 2,925 26%
    Underlying cost to income ratio3 67.8% 74.6% (6.8)pp 69.4% 72.9% (3.5)pp

    1 Reported figures as far as “Net income (Group share)” 2 “Underlying” means exclusive of exceptional items 3 The underlying cost/income ratio of Groupe BPCE is calculated on the basis of net banking income and operating expenses excluding exceptional items. The calculations are detailed in the annex on pages 18 and 24.  

    1.     Groupe BPCE

    Unless specified to the contrary, the financial data and related comments refer to the reported results of the Group and
    business lines; changes express differences between Q4-24 and Q4-23 and between full-year 2024 and full-year 2023.

    Groupe BPCE’s net banking income rose by 11% to reach 6,046 million euros in Q4-24 thanks to strong commercial activity in all business lines. At the end of December 2024, it stood at 23,317 million euros, up 5%.

    Revenues from the Retail Banking & Insurance business unit (RB&I) rose 14% in Q4-24 to 4,064 million euros and stood at 15,397 million euros in full-year 2024, representing growth of 4%. Banques Populaires and Caisses d’Epargne put up a strong commercial performance, attracting more than 846,000 new clients1 across all markets since the beginning of the year.

    Revenues in the Financial Solutions & Expertise business unit, stable in Q4-24 and up 2% in full-year 2024, were driven in particular by the leasing and consumer credit businesses. The Insurance business unit benefited from strong business momentum in life insurance with gross new inflows2 of 14.9 billion euros. Business was buoyant for the Digital & Payments business unit with renewed momentum for Oney.

    Revenues from the Global Financial Services (GFS) business unit were up 8% in Q4-24 and full-year 2024, reaching a total of 2,055 million euros and 7,947 million euros respectively. Corporate & Investment Banking revenues, buoyed up by strong commercial performance across all its business lines, came to 1,087 million euros in Q4-24, up 5%, and to 4,440 million euros in full-year 2024, up 7%. The net banking income generated by Asset & Wealth Management stood at 968 million euros in Q4-24, up 11%, and reached a total of 3,507 million euros in full-year 2024, up 10%. Assets under management, which rose to their highest level ever thanks to record-breaking fund inflows and positive market and currency effects, rose by 13% in the course of the year to reach 1,317 billion euros.

    The net interest margin stood at 7.6 billion euros, up 4% year-on-year, while commission income, which reached 11 billion euros in full-year 2024, was up 7% year-on-year.

    In full-year 2024, operating expenses remained stable at 16,384 million euros, rising 1% to 4,184 million euros in Q4-24, benefitting from positive jaws effects over the 2 periods.

    The underlying cost/income ratio3 improved by 6.8pp in Q4-24 to 67.8%, and by 3.5pp in full-year 2024 to 69.4%

    Gross operating income rose by 40% to 1,862 million euros in Q4-24, and by 18% to 6,933 million euros in full-year 2024.

    Groupe BPCE’s cost of risk, which came to -2,061 million euros in 2024, increased by a total of 19% vs. a low basis of comparison in 2023. In Q4-24, it stood at -596 million euros, down 20%.

    Performing loans are deemed to be rated ‘Stage 1’ or ‘Stage 2,’ while loans with proven risk are rated ‘Stage 3.’

    1    196,100 new active clients in full-year 2024 ² Excluding the reinsurance treaty with CNP Assurances3 The underlying cost/income ratio of Groupe BPCE is calculated on the basis of net banking income and operating expenses excluding exceptional items. The calculations are detailed in the annex on page 24

    For Groupe BPCE, the amount of provisions for performing loans rated ‘Stage 1’ or ‘Stage 2’ corresponds:

    • For the quarter, to a reversal of 31 million euros in Q4-24 vs. an allocation of 34 million euros in Q3-24 and vs. an allocation of 145 million euros in Q4-23,
    • For the 12-month period, a reversal of 177 million euros in 2024 vs. a reversal of 112 million euros in 2023.

    Provisions for loan outstandings with proven risk, rated ‘Stage 3,’ correspond:

    • For the quarter, to an allocation of 627 million euros in Q4-24 vs. an allocation of 488 million euros in Q3-24 and vs. an allocation of 598 million euros in Q4-23,
    • For the 12-month period, an allocation of 2,238 million euros in 2024 vs. an allocation of 1,843 million euros in 2023.

    In Q4-24, the cost of risk for Groupe BPCE stood at 28bps in terms of gross customer outstandings, down 7bps. This figure includes a reversal of 1bp on performing loans (vs. an allocation of 7bps in Q4-23) and an allocation on loan outstandings with proven risk of 29bps vs. an allocation of 28bps in Q4-23.
    In Q4-24, the cost of risk remained stable for the Retail Banking & Insurance business unit at 30bps, including a 1bp provision for performing loans (vs. a 5bps allocation to provisions in Q4-23) and a 30bps allocation on loan outstandings with proven risk, as in Q4-23.
    The cost of risk for the Corporate & Investment Banking business unit came to 55bps (vs. 37bps in Q4-23), including a 13bps reversal on performing loans (vs. a 16bps provision in Q4-23) and a 67bps provision on loans with proven risk (vs. a 21bps provision in Q4-23).

    In 2024, Groupe BPCE’s cost of risk stood at 24bps of gross customer loan outstandings. This figure includes a 2bps reversal of provisions on performing loans (vs. a 1bp reversal in 2023) and a 26bps provision on loans with proven risk (vs. a 22bps provision in 2023).
    The cost of risk was 24bps for the Retail Banking & Insurance business unit (21bps in 2023), including a 2bps reversal on performing loans (as in 2023) and a 26bps provision on loans with proven risk (vs. a 23bps provision in 2023).
    The cost of risk for the Corporate & Investment Banking business unit came to 40bps (24bps in 2023), including a 6bps reversal on performing loans (vs. a 4bps reversal in 2023) and a 46bps provision on loans with proven risk (vs. a 28bps provision in 2023).

    The ratio of non-performing loans to gross loan outstandings stood at 2.5% at December 31, 2024, up 0.1pp compared with end-December 2023.

    Reported net income (Group share) came to 913 million euros in Q4-24, up 140%. In full-year 2024, it stood at 3,520 million euros, up 26%.

    The impact of exceptional items on net income (Group share) was -64 million euros in Q4-24 vs. -100 million euros in Q4-23 and -155 million euros in full-year 2024 vs. -122 million euros in full-year 2023.

    Underlying net income (Group share)1 rose by 103% to stand at 977 million euros in Q4-24, and grew by 26% to 3,675 million euros in full-year 2024.

    1 “Underlying” means exclusive of exceptional items

    2.   A Group mobilized to decarbonize the economy and committed to making impact accessible to all

    Strong commitments in 2024

    • Climate commitments:

    The Group has published new decarbonization ambitions for the 111 most highly emissive industrial sectors: Aluminum, Aviation, Commercial real estate, Residential real estate, Agriculture, Automotive, Steel and Cement, and has strengthened its ambitions in the Power Generation and Oil & Gas sectors.

    • Environmental commitments:

    Groupe BPCE has strengthened its commitment by joining act4nature international.

    • Social commitments by providing financing for players in the social & solidarity-based economy, in social housing and the Public Sector.

    Innovative and concrete actions for our clients

    • The Banques Populaires and Caisses d’Epargne retail banking networks have launched innovations to facilitate home ownership and offer all individual customers energy-efficient renovation solutions to preserve the value of their real-estate assets: for example, by the end of November 2024, over 640 million euros in financing had been granted for energy-efficient home renovation, and the Advice and Sustainable Solutions digital module had received over 5 million unique visitors.
    • The Group serves the SME and ISE clients of the Banques Populaires and Caisses d’Epargne, as well as local communities by providing locally-based advice and by financing the transition of their business models. It has also strengthened its partnership with the European Investment Bank (EIB) for the innovation and energy transition with over one billion euros in transition and decarbonization financing.
    • Green revenues in the CIB rose by +14% in 2024 YoY, driven by sustainable finance and renewable energy & new energy activities including tailored-made solutions and dedicated expertise provided by the Green Hub.

    Groupe BPCE, a pioneer in sustainable finance, launched 5 green and social bond issues in the course of 2024 for an aggregate value of more than 3.6 billion euros, including the 1st Social Bond with a profit-sharing coupon for the benefit of the Institut Robert-Debré du Cerveau de l’Enfant (Children’s Brain Development Institute), supported by APHP (Paris Public Hospitals).

    1 Given the insignificant amount of Natixis CIB’s financing dedicated to freight and passenger ships, Groupe BPCE has not published its action plan for this industrial sector

    3.   Capital, loss-absorbing capacity, liquidity, and funding

    3.1        CET11ratio

    Groupe BPCE’s CET1 ratio at end-December 2024 stood at an estimated 16.2%, unchanged from the previous quarter. It includes the following impacts:

    • Retained earnings: +21bps,
    • Net issuance of cooperative shares: +3bps,
    • Change in risk-weighted assets: – 33bps,
    • Other changes, including variations in the prudential backstop provision, items included under Other Comprehensive Income, and other adjustments: +4bps.

    The Group’s CET1 ratio – presented on a pro-forma basis to reflect the inclusion of the future impacts of the SGEF and Nagelmackers acquisitions (-54bps) – stands at 15.6%,

    At end-December 2024, Groupe BPCE held an equity buffer estimated at 18.6 billion euros above the threshold for triggering the maximum distributable amount (MDA) for equity capital, taking account of the prudential requirements laid down by the ECB applicable on January 2, 2025.

    3.2         TLAC ratio1

    The Total Loss-Absorbing Capacity (TLAC) stood at an estimated 122.1 billion euros at the end of December 2024. The TLAC ratio, expressed as a percentage of risk-weighted assets, stood at an estimated 26.7%2 at the end of December 2024 (without taking account of preferred senior debt for the calculation of this ratio), well above the standard requirements of the Financial Stability Board that were equal to 22.4% at January 2, 2025.

    3.3        MREL ratio1

    Expressed as a percentage of risk-weighted assets at December 31, 2024, Groupe BPCE’s subordinated MREL ratio (without taking account of preferred senior debt for the calculation of this ratio) and the total MREL ratio stood at 26.7%2 and 34.6%, well above the minimum requirements laid down by the SRB at January 2, 2025 of 22.4%3 and 27.3%3 respectively.

    3.4        Leverage ratio1

    At December 31, 2024, the estimated leverage ratio stood at 5.1%, well above the requirement.

    3.5        Liquidity reserves at a high level

    The LCR (Liquidity Coverage Ratio) for Groupe BPCE is well above the regulatory requirement of 100%, at an average of 142% of month-end LCRs for the 4th quarter 2024.
    Liquidity reserves stood at 302 billion euros at December 2024, representing a coverage ratio of 177% of short-term financial debt (including short-term maturities of medium- to long-term financial debt).

    3.6        MLT funding plan: 32% of the 2025 objectives completed as at January 31, 2025

    The size of the MLT funding plan, excluding structured private placements and Asset Backed Securities (ABS), has been set at 23 billion euros for 2025. The breakdown per type of debt is as follows:

    • 10 billion euros in TLAC funding: 2.0 billion euros in Tier 2 funding and 8 billion euros in senior non-preferred debt,
    • 3 billion euros senior preferred debt,
    • 10 billion euros in covered bonds.

    The target for ABS is 8 billion euros.

    At January 31, 2025, Groupe BPCE had raised 7.3 billion euros, excluding structured private placements and ABS (32% of the 23 billion euro funding plan):

    • 5.6 billion euros in TLAC funding: 1.7 billion euros in Tier 2 funding (87% of requirements) and 3.9 billion euros in senior non-preferred debt (49% of requirements),
    • 1.7 billion euros in covered bonds (17% of requirements).

    At January 31, 2025, the amount of ABS raised came to a total of 0.7 billion euros, i.e. 8% of the target.

    Capital adequacy, Total loss-absorbing capacity – see the note on methodology
    1 Estimated at December 31, 2024 2 Groupe BPCE has chosen to waive the possibility provided by Article 72 Ter (3) of the Capital Requirements Regulation (CRR) to use senior preferred debt to ensure compliance with its TLAC/subordinated MREL requirements. 3 Following reception of MREL’s annual letter for 2024

    4.   Results of the business lines

    Unless specified to the contrary, the financial data and related comments refer to the reported results of the Group and
    business lines; changes express differences between Q4-24 and Q4-23 and between full-year 2024 and full-year 2023.

    4.1        Retail Banking & Insurance

    €m1 Q4-24 % Change 2024 % Change
    Net banking income 4,064 14% 15,397 4%
    Operating expenses (2,497) (0)% (9,902) 1%
    Gross operating income 1,567 45% 5,495 10%
    Cost of risk (556) (13)% (1,751) 16%
    Income before tax 998 142% 3,807 8%
    Exceptional items (45) (60)% (115) 3%
    Underlying2income before tax 1,044 98% 3,922 8%
    Underlying cost/income ratio3 60.4% (8.5)pp 63.6% (2.2)pp

    At end-December 2024, loan outstandings rose by 1% to 724 billion euros. Outstanding home loans remained stables at 400 billion euros, while equipment loans rose by 3% during the year to 199 billion euros.

    At end-December 2024, on-balance sheet customer deposits & savings totaled 681 billion euros, representing an increase of 5 billion euros year-on-year, with a 5% rise in term accounts and a 3% year-on-year increase in both regulated and unregulated passbook savings accounts.

    Net banking income for the Retail Banking & Insurance business unit rose by 14% in Q4-24 to 4,064 million euros, and by 4% in full-year 2024 to 15,397 million euros. In Q4-24, these changes reflect the good level of business activities: in the networks, revenues rose by 17% for the Banque Populaire retail banking network and by 14% for the Caisse d’Épargne network. Net banking income for both networks also recorded growth in full-year 2024, by 4% for the Banque Populaire network and by 3% for the Caisse d’Épargne network.

    The Financial Solutions & Expertise business lines continued to benefit from strong sales momentum, particularly in the leasing segment. Revenues remained stable in Q4-24 but saw 2% growth in full-year 2024. In Insurance, premiums4 rose by 15% in 2024, driven by both Non-Life Insurance and Life & Personal Protection Insurance. The Digital & Payments business unit reported a 14% increase in revenues in Q4-24 and 7% growth in full-year 2024, driven by card transactions and instant payment operations.

    Operating expenses remained tightly managed, stable in Q4-24 at 2,497 million euros, and up by just 1% in full-year 2024 to 9,902 million euros.

    The underlying cost/income ratio3 improved by 8.5pp in Q4-24 to 60.4%, and by 2.2pp in full-year 2024 to 63.6%.

    The business unit’s gross operating income benefited from a strong positive jaws effect, rising by 45% in Q4-24 to
    1,567 million euros and by 10% in full-year 2024 to 5,495 million euros.

    The cost of risk amounted to -556 million euros in Q4-24, down 13%, and stood at -1,751 million euros in 2024, up 16%.

    For the business unit as a whole, income before tax amounted to 998 million euros in Q4-24, up 142%, and stood at 3,807 million in full-year 2024, up 8%.

    Underlying income before tax2 amounted to 1,044 million euros in Q4-24, up 98%, and came to 3,922 million euros in full-year 2024, up 8%.

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses 4Excluding reinsurance treaty with CNP Assurance

    4.1.1         Banque Populaire network
    The Banque Populaire retail banking network is comprised of 14 cooperative banks (12 regional Banques Populaires along
    with CASDEN Banque Populaire and Crédit Coopératif) and their subsidiaries, Crédit Maritime Mutuel, and the Mutual
    Guarantee Companies.

    €m1 Q4-24 % Change 2024 % Change
    Net banking income 1,614 17% 6,098 4%
    Operating expenses (980) 1% (4,047) 2%
    Gross operating income 634 56% 2,051 8%
    Cost of risk (266) (6)% (814) 25%
    Income before tax 352 137% 1,285 (2)%
    Exceptional items (17) 77% (51) ns
    Underlying2income before tax 369 133% 1,336 2%
    Underlying cost/income ratio3 59.7% (10.2)pp 65.5% (1.9)pp

    Loan outstandings remained stable year-on-year, standing at 301 billion euros at the end of December 2024.
    On-balance sheet customer deposits & savings decreased by 2 billion euros year-on-year at the end of December 2024, with term accounts remaining stable during the 12-month period, while both regulated and unregulated passbook savings accounts saw 2% year-on-year growth.

    Net banking income came to 6,098 million euros in full-year 2024, up 4% year-on-year. This included 3.2 billion euros in net interest margin4,5 up 5% year-on-year, and 2.9 billion euros in commissions5 (up 3% year-on-year).
    In Q4-24, net banking income came to a total of 1,614 million euros, up 17% year-on-year.

    Operating expenses rose by a limited 1% in Q4-24 to 980 million euros, and increased by 2% in full-year 2024, to 4,047 million euros.
    The underlying cost/income ratio3 consequently saw a 10.2pp improvement in Q4-24, to 59.7%, and a 1.9pp improvement in full-year 2024, to 65.5%.

    Gross operating income benefited from positive jaws effects, rising by 56% to 634 million euros in Q4-24 and by 8% to 2,051 million euros in full-year 2024.

    The cost of risk stood at -266 million euros in Q4-24, down 6%, and -814 million euros in 2024, up 25%.

    Income before tax came to 352 million euros in Q4-24 (+137%) and 1,285 million euros in 2024 (-2%).

    Underlying income before tax2 amounted to 369 million euros in Q4-24 (+133%) and 1,336 million euros in full-year 2024
    (+2%).

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses 4 Excluding provisions for home-purchase savings schemes 5 Income on regulated savings has been restated to account for the net interest margin and included under commissions

    4.1.2        Caisse d’Epargne network
    The Caisse d’Epargne retail banking network comprises 15 individual Caisses d’Epargne along with their subsidiaries

    €m1 Q4-24 % Change 2024 % Change
    Net banking income 1,616 14% 6,054 3%
    Operating expenses (1,084) 0% (4,216) 1%
    Gross operating income 531 55% 1,838 10%
    Cost of risk (205) (6)% (640) 16%
    Income before tax 328 161% 1,200 7%
    Exceptional items (27) 171% (60) ns
    Underlying2income before tax 355 162% 1,260 13%
    Underlying cost/income ratio3 65.4% (9.8)pp 68.7% (2.7)pp

    Loan outstandings rose by 1% year-on-year to 376 billion euros at the end of December 2024.
    On-balance sheet customer deposits & savings increased by 5 billion euros year-on-year, with growth in term accounts (+12%) and an increase in regulated and unregulated passbook savings accounts (+3%).

    Net banking income rose by 3% to reach 6,054 million euros in full-year 2024, including:

    • 2.6 billion euros in net interest margin4,5, down 3% year-on-year,
    • 3.4 billion euros in commissions5 up 7% year-on-year.

    Net banking income came to a total of 1,616 million euros, up 14% year-on-year, in Q4-24 and stood at 6,054 million euros, up 3% year-on-year in full-year 2024.

    Operating expenses remained stable at 1,084 million euros in Q4-24, and rose by 1% in full-year 2024 to 4,216 million euros.

    The underlying cost/income ratio3 improved by 9.8pp to 65.4% in Q4-24 and by 2.7pp to 68.7% in full-year 2024.

    Gross operating income benefited from positive jaws effects in Q4-24 (+55%), rising to 531 million euros, and enjoyed 10% growth in full-year 2024, rising to 1,838 million euros.

    The cost of risk came to -205 million euros in Q4-24, down 6%, and to -640 million euros in 2024, up 16%.

    Income before tax rose by 161% to 328 million euros in Q4-24, and came to 1,200 million euros in 2024.
    (+7%).

    Underlying income before tax2 amounted to 355 million euros in Q4-24 (+162%) and 1,260 million euros in full-year 2024
    (+13%).

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses 4 Excluding provisions for home-purchase savings schemes 5 Income on regulated savings has been restated to account for the net interest margin and included under commissions

    4.1.3        Financial Solutions & Expertise

    €m1 Q4-24 %

    Change

    2024 %

    Change

    Net banking income 334 (0)% 1,303 2%
    Operating expenses (169) 1% (636) 1%
    Gross operating income 165 (2)% 667 3%
    Cost of risk (38) (30)% (108) 11%
    Income before tax 125 11% 555 2%
    Exceptional items 0 ns 0 ns
    Underlying2income before tax 125 11% 555 1%
    Underlying cost/income ratio3 50.7% 1.0pp 48.8% (0.3)pp

    Sales momentum remained strong in services designed for individual customers, particularly in consumer credit, with average loan outstandings (personal loans and revolving credit) up 7% year-on-year, consolidating the Group’s position as France’s leading bank for consumer credit.

    The Leasing activity continued to provide robust support to companies with growth in average outstandings (+10% year-on-year) chiefly driven by equipment leasing (+17%). Energéco, a player committed to the renewable energies sector, had an exceptional year with production exceeding, for the first time, one billion transactions arranged.

    Despite the unfavorable business environment, the business lines working in the housing and real estate sector demonstrated their resilience with confirmation in Q4-2024 of the positive upturn of activity in personal loan guarantees, leading to an increase in gross written premiums (+2% in Q4-24 year-on-year vs. -40% in the first 9 months of 2024).

    Net banking income for the Financial Solutions & Expertise business unit remained stable at 334 million euros in Q4-24, but rose 2% to 1,303 million euros in full-year 2024.

    Operating expenses, which stood at 169 million euros in Q4-24 and 636 million euros in full-year 2024, remained tightly managed.

    The underlying cost/income ratio3 increased by 1.0pp in Q4-24 to 50.7% and improved by 0.3pp in full-year 2024 to 48.8%.

    Gross operating income, which came to 165 million euros in Q4-24, was down 2%; it stood at 667 million euros in full-year 2024, up 3%.

    The cost of risk stood at -38 million euros in Q4-24, down 30%, and at -108 million euros in full-year 2024 (+11%).

    Income before tax rose by 11% to 125 million euros in Q4-24 and increased by 2% to 555 million euros in full-year 2024.

    Underlying income before tax2 rose by 11% in Q4-24 and by 1% in full-year 2024, to 125 million euros and 555 million euros respectively.

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses

    4.1.4        Insurance1
    The results presented below concern the Insurance business unit held directly by BPCE since March 1, 2022.

    €m2 Q4-24 % Change 2024 % Change
    Net banking income 171 17% 694 10%
    Operating expenses3 (36) (10)%4 (143) (12)%4
    Gross operating income 135 28% 550 17%
    Income before tax 141 32% 566 19%
    Exceptional items 0 ns 0 ns
    Underlying5income before tax 141 30% 566 17%
    Underlying cost/income ratio6 21.3% (5.3)pp 20.7% (4.1)pp

    In Q4-24, premiums7 reached 4.8 billion euros, up 12% thanks to the considerable dynamism demonstrated by Life Insurance and Life & Personal Protection insurance. In full-year 2024, premiums7 rose by 15% to 18.6 billion euros, with a 16% increase for Life & Personal Protection insurance and a 9% increase for Property & Casualty insurance.

    Life insurance assets under management7 reached 103 billion euros at the end of December 2024 thanks to record-breaking net inflows in both euro funds and unit-linked products. Since the end of December 2023, life insurance assets have risen by 12%, driven by significant positive inflows in both euro funds and unit-linked products. Gross inflows7 in life insurance stood at 14.9 billion euros in 2024. Unit-linked products accounted for 53% of inflows7 at the end of December 2024.

    In the Property & Casualty segment, the client equipment rate for both networks was approximately 35%8 at the end of December 2024, up 0.5pp since the end of December 2023.

    Net banking income rose by 17% in Q4-24 to 171 million euros, and rose by 10% to 694 million euros in full-year 2024.

    Operating expenses3 fell by 10%4 year-on-year in Q4-24 to 36 million euros, and by 12%4 in full-year 2024 to 143 million euros.

    The underlying cost/income ratio6 improved by 5.3pp to stand at 21.3% in Q4-24, and improved by 4.1pp to reach 20.7% in full-year 2024.

    Thanks to positive jaws effects in Q4-24 and full-year 2024, EBITDA rose by 28% and 17% respectively.

    Income before tax also improved, rising by 32% to 141 million euros in Q4-24 and by 19% to 566 million euros in full-year 2024.

    Underlying5income before tax came to 141 million euros in Q4-24 (+30%) and to 566 million euros in full-year 2024 (+17%).

    1 BPCE Assurances 2 Reported figures until “Income before tax” 3 “Operating expenses” corresponds to “non-attributable expenses” under IFRS 17, i.e. all costs that are not directly attributable to insurance contracts 4 At constant method: +7% in Q4-24 YoY and +4% in 2024 YoY 5 “Underlying” means exclusive of exceptional items 6 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses 7 Excluding reinsurance treaty with CNP Assurance
    8 Scope: combined individual clients of the BP and CE networks

    4.1.5         Digital & Payments

    €m1 Q4-24 % Change 2024 % Change
    Net banking income 227 14% 873 7%
    o/w Payments 128 10% 491 6%
    o/w Oney 99 19% 382 8%
    Operating expenses (173) 1% (646) (1)%
    o/w Payments (108) 9% (394) 3%
    o/w Oney (65) (10)% (252) (7)%
    Gross operating income 54 96% 227 39%
    Cost of risk (33) (52)% (126) (26)%
    Income before tax 20 ns 97 ns
    Exceptional items (1) (99)% (5) (96)%
    Underlying2income before tax 21 ns 102 125%
    Underlying cost/income ratio3 76.2% (3.5)pp 73.9% (2.1)pp

    Digital & AI

    At the end of December 2024, 11.8 million customers were active on Banques Populaires and Caisses d’Epargne mobile applications (up 3% vs. end-December 2023).

    The “AI for all” in-house generative AI solution was being used by over 26,000 employees at the end of December 2024 (i.e. 25% of all Group employees.)

    Thanks to transformative AI, 10 million documents had been verified automatically (+71%) by end-December 2024.

    Payments

    Net banking income enjoyed 10% growth in Q4-24 and 6% growth in full-year 2024, while operating expenses rose 9% in Q4-24 and 3% in full-year 2024.

    The widespread use of Wero (European Payments Initiative) enables all customers to send and receive money via instant account-to-account payments in less than 10 seconds. Wero handles 2 million transactions per month and serves over 2 million active customers.

    In the Payment Solutions business, the number of card transactions rose by 5% year-on-year, with continued growth in mobile and instant payments (+54% and +49% year-on-year respectively) and the ongoing rollout of Android POS terminals (multiplied by a factor of 2). The launch of Google Pay has strengthened our range of mobile products.

    Oney Bank

    Net banking income rose by 8% in 2024 thanks to improved margin rates and the asset repricing effect. Oney maintained its leadership position in the BNPL4 segment in France while business was robust in Europe outside France (+19% in volumes year-on-year).

    Management expenses remained well under control, falling by 7% in full-year 2024.

    The sharp drop in the cost of risk in 2024 (-26% YoY) confirms the positive impact of our action plans.
    Net banking income for the Digital & Payments business unit rose by 14% in Q4-24 and by 7% in full-year 2024, to reach 227 million euros and 873 million euros respectively.

    The business unit’s operating expenses were up 1% in Q4-24 and down 1% in full-year 2024, to reach 173 million euros and 646 million euros respectively.

    This led to a 3.5pp improvement in the underlying cost/income ratio3 to 76.2% in Q4-24 and a 2.1pp improvement to 73.9% in full-year 2024.

    Gross operating income, which benefitted from positive jaws effects, rose by 96% in Q4-24 to 54 million euros, and by 39% to 227 million euros in full-year 2024.

    The cost of risk fell by 52% in Q4-24 to -33 million euros, and by 26% in full-year 2024 to -126 million euros.

    Income before tax amounted to 20 million euros in Q4-24 and 97 million euros full-year 2024.

    Underlying2income before tax came to 21 million euros in Q4-24 and 102 million euros in full-year 2024, equal to a sharp rise of 125%.

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses 4 Buy Now Pay Later

    4.2 Global Financial Services
    The GFS business unit includes the Asset & Wealth Management activities and the Corporate & Investment Banking activities of
    Natixis.

    €m1   Q4-24 % Change Constant Fx % change 2024 % Change Constant Fx % change
    Net banking income   2,055 8% 7% 7,947 8% 8%
    o/w CIB   1,087 5% 5% 4,440 7% 7%
    o/w AWM   968 11% 10% 3,507 10% 10%
    Operating expenses   (1,501) 8% 7% (5,651) 7% 7%
    o/w CIB   (738) 5% 5% (2,889) 8% 8%
    o/w AWM   (763) 11% 10% (2,763) 6% 6%
    Gross operating income   553 8% 7% 2,296 10% 10%
    Cost of risk   (86) 18%   (268) 73%  
    Income before tax   479 14%   2,051 4%  
    Exceptional items   0 ns   0 ns  
    Underlying2income before tax   479 10%   2,051 3%  
    Underlying cost/income ratio3   73.1% 0.7pp   71.1% (0.1)pp  

    GFS revenues rose by 8% in both Q4-24 and full-year 2024 to respectively 2,055 million euros (+7% at constant exchange rates) and 7,947 million euros (+8% at constant exchange rates). These trends are the result of the robust performance of our global business lines.

    In Q4-24, revenues generated by the Corporate & Investment Banking business rose by 5% to 1,087 million euros thanks, in particular, to the strong performance achieved by the Global Markets (+19%) and Global Finance (+2%) activities in full-year 2024. Net banking income for the CIB business in full-year 2024 rose by 7% to 4,440 million euros.

    In Q4-24, Asset & Wealth Management revenues rose 10% at constant exchange rates to 968 million euros, chiefly thanks to higher management fees year-on-year. Assets under management rose by 13% since the begging of the year to reach a historic high of 1,317 billion euros, with record inflows and a strong positive market and change effects.

    GFS operating expenses increased by 8% in Q4-24 and by 7% in 2024, to respectively 1,501 million euros (+7% at constant exchange rates) and 5,651 million euros (+7% at constant exchange rates). This rise in expenses is in line with revenue growth, leading to positive jaws effects in full-year 2024.

    In Q4-24, Corporate & Investment Banking operating expenses rose by 5% in line with revenue growth. Asset & Wealth Management expenses rose by 10% at constant exchange rates in Q4-24.

    The underlying cost/income ratio3 was 73.1% in Q4-24 and 71.1% in full-year 2024, up 0.7pp and down 0.1pp respectively.

    Gross operating income rose 8% in Q4-24 to 553 million euros (+7% at constant exchange rates); it rose 10% in full-year 2024 to 2,296 million euros (+10% at constant exchange rates).

    The cost of risk increased by 18% in Q4-24 and by 73% in full-year 2024, to -86 million euros and -268 million euros respectively.

    Income before tax rose by 14% in Q4-24 to 479 million euros, and by 4% in full-year 2024 to 2,051 million euros.

    Underlying2income before tax for Q4-24 was 479 million euros, up 10%, and stood at 2,051 million euros in full-year 2024, up 3%.

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses

    4.2.1        Corporate & Investment Banking
    The Corporate & Investment Banking (CIB) business unit includes the Global markets, Global finance, Investment banking and
    M&A activities of Natixis.

    €m1 Q4-24 % Change 2024 % Change
    Net banking income 1,087 5% 4,440 7%
    Operating expenses (738) 5% (2,889) 8%
    Gross operating income 349 5% 1,551 3%
    Cost of risk (98) 60% (282) 78%
    Income before tax 262 3% 1,293 (3)%
    Exceptional items 0 ns 0 ns
    Underlying2income before tax 262 1% 1,293 (4)%
    Underlying cost/income ratio3 67.9% 0.2pp 65.1% 1.2pp

    Global Markets revenues rose by 19% to 452 million euros in full-year 2024. Revenues generated by the Equity business rose 53% to 96 million euros in Q4-24, driven by a strong performance in the Global Securities Financing activity. FIC-T revenues rose by 14% to 354 million euros in Q4-24, driven by a strong performance in the Credit and Foreign Exchange segments.

    Global Finance revenues were up 2%, rising to 466 million euros in Q4-24 thanks to the sustained momentum of Trade Finance activities.

    Investment Banking revenues were up 6% to 50 million euros in Q4-24, driven by the Acquisition & Strategic Finance and SECM business lines.
    The M&A business lines recorded revenues of 361 million euros in full-year 2024, up 11% year-on-year.
    Natixis Partners has acquired a stake in Financière de Courcelles in order to strengthen its position in the French M&A market within the small, mid, and upper mid-cap segments.

    Net banking income generated by the Corporate & Investment Banking business unit rose by 5% in Q4-24 and by 7% in full-year 2024, to 1,087 million euros and 4,440 million euros respectively.

    Operating expenses, which stood at 738 million euros in Q4-24, reflect 5% growth; expenses rose 8% in full-year 2024 to 2,889 million euros, in line with revenue growth.

    The underlying cost/income ratio3 increased by 0.2pp to 67.9% in Q4-24, and by 1.2pp to 65.1% in full-year 2024.

    Gross operating income rose by 5% in Q4-24 to 349 million euros, and by 3% in full-year 2024 to 1,551 million euros.

    The cost of risk stood at -98 million euros, up 60%, in Q4-24, and at -282 million euros, up 78%, in full-year 2024.

    Income before tax was up 3% to 262 million euros in Q4-24, and down 3% to 1,293 million euros in full-year 2024.

    Underlying2income before tax was up 1% to 262 million euros in Q4-24, and down 4% to 1,293 million euros in full-year 2024.

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses

    4.2.2        Asset & Wealth Management
    The business unit includes the Asset & Wealth Management activities of Natixis.

    €m1 Q4-24 % Change 2024 % Change
    Net banking income 968 11% 3,507 10%
    Operating expenses (763) 11% (2,763) 6%
    Gross operating income 205 12% 744 27%
    Income before tax 217 32% 759 21%
    Exceptional items 0 ns 0 ns
    Underlying2income before tax 217 24% 759 16%
    Underlying cost/income ratio3 78.8% 1.0pp 78.8% (2.0)pp

    In Asset Management, assets under management4 reached an all-time high of 1,317 billion euros at the end of December 2024, up 13% since the beginning of the year, with record net inflows and strong positive market and currency effects.

    Net inflows into Asset Management4 reached 40 billion euros in full-year 2024, chiefly thanks to fixed-income products from Loomis Sayles and DNCA, and to life insurance products. Private asset inflows remained positive on an annual basis.

    ESG assets accounted for 40.3% of assets under management at the end of December 2024.

    Asset management revenues grew at constant exchange rates by 10% in full-year 2024 but also in Q4-2024, driven by a higher level of average assets under management (+10% in Q4-2024).

    In Asset Management4 in full-year 2024, the total fee rate (excluding performance fees) stood at 25.2bps (stable) and at 36.8bps excluding insurance asset management (-1.1bp).

    Net banking income for the Asset & Wealth Management business unit rose by 11% in Q4-24 to 968 million euros, and by 10% in full-year 2024 to 3,507 million euros.

    Operating expenses came to 763 million euros, up 11% in Q4-24, and to 2,763 million euros, up 6% in full-year 2024.

    The underlying cost/income ratio3increased by 1.0pp in Q4-24 to 78.8%, and improved by 2.0pp in full-year 2024 to 78.8%.

    Gross operating income rose by 12% to 205 million euros in Q4-24, and by 27% to 744 million euros in full-year 2024.

    Income before tax came to 217 million euros in Q4-24 (+32%), and to 759 million euros in full-year 2024 (+21%).

    Underlying2income before tax rose by 24% to 217 million euros in Q4-24, and by 16% to 759 million euros in full-year 2024.
            

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses 4 Asset management: Europe includes Dynamic Solutions and Vega IM; North America includes WCM IM; excluding Wealth Management

    ANNEXES

    Notes on methodology

    Presentation on the pro-forma quarterly results

    The 2023 quarterly series are presented pro forma with changes in standards and organization:
    The sectoral reallocation of the results of the private equity activities of the entities BP Développement & CE Développement from Corporate center to RB&I and GFS divisions.
    The new management standards adopted by Natixis (including the normative allocation of capital to the business lines) within the GFS division.
    The main evolutions impact RB&I, GFS and the Corporate center.
    The data for 2023 has been recalculated to obtain a like-for-like basis of comparison.
    The quarterly series of Groupe BPCE remain unchanged.
    The tables showing the transition from reported 2023 to pro-forma 2023 are presented on annexes.

    Exceptional items

    Exceptional items and the reconciliation of the reported income statement to the underlying income statement of Groupe BPCE are detailed in the annexes.

    Net banking income

    Customer net interest income, excluding regulated home savings schemes, is computed on the basis of interest earned from transactions with customers, excluding net interest on centralized savings products (Livret A, Livret Développement Durable, Livret Épargne Logement passbook savings accounts) in addition to changes in provisions for regulated home purchase savings schemes. Net interest on centralized savings is assimilated to commissions.

    Operating expenses

    Operating expenses correspond to the aggregate total of the “Operating Expenses” (as presented in the second amendment of Group’s universal registration document, note 4.7 appended to the consolidated financial statements of Groupe BPCE) and “Depreciation, amortization and impairment for property, plant and equipment and intangible assets.”

    Cost/income ratio

    Groupe BPCE’s cost/income ratio is calculated on the basis of net banking income and operating expenses excluding exceptional items. The calculations are detailed in the annexes.
    Business line cost/income ratios are calculated on the basis of underlying net banking income and operating expenses.

    Cost of risk

    The cost of risk is expressed in basis points and measures the level of risk per business line as a percentage of the volume of loan outstandings; it is calculated by comparing net provisions booked with respect to credit risks of the period to gross customer loan outstandings at the beginning of the period.

    Loan oustandings and deposits & savings

    Restatements regarding transitions from book outstandings to outstandings under management are as follows:
    Loan outstandings: the scope of outstandings under management does not include securities classified as customer loans and receivables and other securities classified as financial operations,
    Deposits & savings: the scope of outstandings under management does not include debt securities (certificates of deposit and savings bonds).

    Capital Adequacy

    Common Equity Tier 1 is determined in accordance with the applicable CRR II/CRD IV rules, after deductions.
    Additional Tier-1 capital takes account of subordinated debt issues that have become non-eligible and subject to ceilings at the phase-out rate in force.
    The leverage ratio is calculated in accordance with the applicable CRR II/CRD V rules. Centralized outstandings of regulated savings are excluded from the leverage exposures as are Central Bank exposures for a limited period of time (pursuant to ECB decision 2021/27 of June 18, 2021).

    Total loss-absorbing capacity

    The amount of liabilities eligible for inclusion in the numerator used to calculate the Total Loss-Absorbing Capacity (TLAC) ratio is determined by article 92a of CRR. Please note that a quantum of Senior Preferred securities has not been included in our calculation of TLAC.
    This amount is consequently comprised of the 4 following items:

    • Common Equity Tier 1 in accordance with the applicable CRR II/CRD IV rules,
    • Additional Tier-1 capital in accordance with the applicable CRR II/CRD IV rules,
    • Tier-2 capital in accordance with the applicable CRR II/CRD IV rules,
    • Subordinated liabilities not recognized in the capital mentioned above and whose residual maturity is greater than 1 year, namely:
      • The share of additional Tier-1 capital instruments not recognized in common equity (i.e. included in the phase-out),
      • The share of the prudential discount on Tier-2 capital instruments whose residual maturity is greater than 1 year,
      • The nominal amount of Senior Non-Preferred securities maturing in more than 1 year.

    Liquidity

    Total liquidity reserves comprise the following:

    • Central bank-eligible assets include: ECB-eligible securities not eligible for the LCR, taken for their ECB valuation (after ECB haircut), securities retained (securitization and covered bonds) that are available and ECB-eligible taken for their ECB valuation (after ECB haircut) and private receivables available and eligible for central bank funding (ECB and the Federal Reserve), net of central bank funding,
    • LCR eligible assets comprising the Group’s LCR reserve taken for their LCR valuation,
    • Liquid assets placed with central banks (ECB and the Federal Reserve), net of US Money Market Funds deposits and to which fiduciary money is added.

    Short-term funding corresponds to funding with an initial maturity of less than, or equal to, 1 year and the short-term maturities of medium-/long-term debt correspond to debt with an initial maturity date of more than 1 year maturing within the next 12 months.
    Customer deposits are subject to the following adjustments:

    • Addition of security issues placed by the Banque Populaire and Caisse d’Epargne retail banking networks with their customers, and certain operations carried out with counterparties comparable to customer deposits
    • Withdrawal of short-term deposits held by certain financial customers collected by Natixis in pursuit of its intermediation activities.

    Business line indicators – BP & CE networks

    Average rate (%) for residential mortgages: the average client rate for residential mortgages corresponds to the weighted average of actuarial rates for committed residential mortgages, excluding ancillary items (application fees, guarantees, creditor insurance). The rates are weighted by the amounts committed (offers made, net of cancellations) over the period under review. The calculation is based on aggregate residential mortgages, excluding zero interest rate loans.

    Average rate (%) for consumer loans: the average client rate for consumer loans corresponds to the weighted average of the actuarial rates for committed consumer loans, excluding ancillary items (application fees, guarantees, creditor insurance). The rates are weighted by the amounts committed (offers made net of cancellations) over the period under review. The calculation is based on the scope of amortizable consumer loans, excluding overdraft and revolving loans.

    Average rate (%) for equipment loans: the average customer rate for equipment loans is the average of the actuarial rates for equipment loans in each volume-weighted market.

    Digital indicators

    The number of active customers using mobile apps corresponds to the number of customers who have made at least one visit via one mobile apps over one month.
    The number of documents checked automatically corresponds to the number of documents transmitted by customers through their digital spaces or in a physical branch and checked automatically: eligibility for the LEP popular passbook savings account and customer intelligence documents (KYC) for consumer loans, mortgages (digital) and new business relationships (digital and physical branches).

    Impact indicators

    Financing for energy-efficient home renovation for individual clients: this indicator calculates the aggregate annual production of loans granted to individual customers (natural persons) to finance energy renovation work, expressed in €m:

    – Rénovation Energétique (Energy Renovation): consumer credit for environmentally-friendly properties,
    – ECO PTZ MPR: consumer credit designed for renovation work eligible for the MaPrimeRenov program (government scheme to support energy-efficient home renovation work) for up to a total of €30,000,
    – ECO PTZ: interest-free regulated home improvement loan for up to a total of €50,000

    Number of unique visitors to the ‘Advice and Sustainable Solutions’ digital module: this indicator calculates the aggregate annual number of unique visitors who consult the ‘Advice and sustainable solutions’ page on BP and CE mobile applications.

    Financing BtoB clients in their transition and decarbonization efforts: this indicator calculates the aggregate annual amount of loans granted to businesses to help finance their transition and decarbonization efforts, expressed in €m. This aggregate total is derived from the sum of BtoB loan amounts (Green loans + Impact loans + Vehicle Leasing + Green Lease with Purchase Option/Long-Term Rental agreements (LOA/LDD Green).

    Within the scope of CIB activities, Green revenues are comprised of:

    • Sustainable Finance (GSH scope)
    • Renewable & new energies franchises
    • Activities with clients/assets rated Dark & Medium Green (Green Weighting Factor).

    (restated for scope reconciliations).

    Reconciliation of 2023 data to pro forma data

    Retail banking and Insurance Q1-23
    €m Net banking income Operating expenses Income before tax Income
    tax
    Net
    income
    Reported figures 3,891 (2,496) 1,107 (269) 840
    Sectoral reallocation 12 (1) 11 0 11
    Pro forma figures 3,903 (2,497) 1,118 (269) 851
    Global Financial Services Q1-23
    €m Net banking income Operating expenses Income before tax Income
    tax
    Net
    income
    Reported figures 1,822 (1,303) 590 (146) 432
    Sectoral reallocation 0 0 0 0 0
    New rules 32 (2) 30 (4) 26
    Pro forma figures 1,854 (1,305) 621 (151) 458
    Corporate center Q1-23
    €m Net banking income Operating expenses Income before tax Income
    tax
    Net
    income
    Reported figures 102 (788) (729) (10) (739)
    Sectoral reallocation (12) 1 (11) 0 (11)
    New rules (32) 2 (30) 4 (26)
    Pro forma figures 57 (785) (771) (5) (776)
    Retail banking and Insurance Q2-23
    €m Net banking income Operating expenses Income before tax Income
    tax
    Net
    income
    Reported figures 3,655 (2,459) 952 (224) 729
    Sectoral reallocation (15) (1) (15) (0) (15)
    Pro forma figures 3,640 (2,460) 936 (224) 713
    Global Financial Services Q2-23
    €m Net banking income Operating expenses Income before tax Income
    tax
    Net
    income
    Reported figures 1,798 (1,282) 429 (115) 300
    Sectoral reallocation (0) (0) (0) (0) (0)
    New rules 31 (5) 26 (3) 22
    Pro forma figures 1,829 (1,287) 455 (118) 322
    Corporate center Q2-23
    €m Net banking income Operating expenses Income before tax Income
    tax
    Net
    income
    Reported figures 13 (58) (44) (14) (56)
    Sectoral reallocation 15 1 16 0 16
    New rules (31) 5 (26) 3 (22)
    Pro forma figures (3) (52) (54) (10) (63)
    Retail banking and Insurance Q3-23
    €m Net banking income Operating expenses Income before tax Income
    tax
    Net
    income
    Reported figures 3,721 (2,358) 1,072 (268) 799
    Sectoral reallocation (13) (1) (14) 0 (14)
    Pro forma figures 3,709 (2,359) 1,058 (268) 785
    Global Financial Services Q3-23
    €m Net banking income Operating expenses Income before tax Income
    tax
    Net
    income
    Reported figures 1,736 (1,279) 444 (114) 319
    Sectoral reallocation (0) (0) (0) 0 (0)
    New rules 31 (4) 27 (4) 23
    Pro forma figures 1,767 (1,283) 470 (118) 341
    Corporate center Q3-23
    €m Net banking income Operating expenses Income before tax Income
    tax
    Net
    income
    Reported figures (3) (175) (176) (23) (200)
    Sectoral reallocation 13 1 14 0 14
    New rules (31) 4 (27) 4 (23)
    Pro forma figures (21) (170) (189) (19) (210)
    Retail banking and Insurance Q4-23      
    €m Net banking income Operating expenses Income before tax Income
    tax
    Net
    income
         
    Reported figures 3,557 (2,497) 395 (122) 294      
    Sectoral reallocation 19 (1) 18 (0) 18      
    Pro forma figures 3,576 (2,499) 413 (122) 312      
                 
    Global Financial Services Q4-23
    €m Net banking income Operating expenses Income before tax Income
    tax
    Net
    income
    Reported figures 1,874 (1,389) 391 (118) 255
    Sectoral reallocation 0 (1) (0) (0) (0)
    New rules 33 (4) 29 (3) 26
    Pro forma figures 1,908 (1,394) 420 (121) 280
    Corporate center Q4-23
    €m Net banking income Operating expenses Income before tax Income
    tax
    Net
    income
    Reported figures 31 (243) (249) 81 (168)
    Sectoral reallocation (20) 2 (18) 0 (18)
    New rules (33) 4 (29) 3 (26)
    Pro forma figures (22) (237) (296) 84 (211)

    Q4-24 & Q4-23 results : reconcialiation of reported data to alternative performance measures

    €m   Net banking income Operating expenses Cost of
    risk
    Gains or
    losses on
    other assets
    Income
    before tax
    Net income
    – Group share
    Reported Q4-24 results   6,046 (4,184) (596) (35) 1,262 913
    Transformation and reorganization costs Business lines/Corporate center 0 (86)   (1) (87) (64)
    Disposals Corporate center       (1) (1) (1)
    Q4-24 results excluding exceptional items   6,045 (4,098) (596) (34) 1,349 977
    €m   Net banking income Operating expenses Cost of
    risk
    Gains or
    losses on
    other assets
    Income
    before tax
    Net income
    – Group share
    Pro forma reported Q4-23 results   5,462 (4,129) (744) (43) 537 381
    Transformation and reorganization costs Business lines/Corporate center (5) (54) (34)   (93) (57)
    Disposals Corporate center       (43) (43) (43)
    Pro forma Q4-23 results excluding exceptional items   5,467 (4,076) (710) (0) 672 481

    2024 & 2023 results : reconcialiation of reported data to alternative performance measures

    €m   Net banking income Operating expenses Cost of
    risk
    Gains or
    losses on
    other assets
    Income
    before tax
    Net income
    – Group share
    Reported 2024 results   23,317 (16,384) (2,061) 28 4,956 3,520
    Transformation and reorganization costs Business lines/Corporate center 3 (208)   (1) (206) (153)
    Disposals Corporate center 0     (3) (3) (3)
    2024 results excluding exceptional items   23,314 (16,176) (2,061) 32 5,165 3,675
    €m   Net banking income Operating expenses Cost of
    risk
    Gains or
    losses on
    other assets
    Income
    before tax
    Net income
    – Group share
    Pro forma reported 2023 results   22,198 (16,328) (1,731) 8 4,182 2,804
    Transformation and reorganization costs Business lines/Corporate center 2 (213) (32)   (242) (164)
    Disposals  Corporate center       (45) (45) (44)
    Litigations Business lines/Corporate center 87       87 87
    Pro forma 2023 results excluding exceptional items   22,108 (16,115) (1,699) 53 4,381 2,925

    Groupe BPCE : underying cost to income ratio

    €m Net banking income Operating expenses Underlying
    cost income ratio
    Q4-24 reported figures 6,046 (4,184)  
    Impact of exceptional items 0 (86)  
    Q4-24 underlying figures 6,045 (4,098) 67.8%
    €m Net banking income Operating expenses Underlying
    cost income ratio
    Q4-23 Pro forma reported figures 5,462 (4,129)  
    Impact of exceptional items (5) (54)  
    Q4-23 Pro forma underlying figures 5,467 (4,076) 74.6%

    Groupe BPCE : underying cost to income ratio

    €m Net banking income Operating expenses Underlying
    cost income ratio
    2024 reported figures 23,317 (16,384)  
    Impact of exceptional items 3 (208)  
    2024 underlying figures 23,314 (16,176) 69.4%
    €m Net banking income Operating expenses Underlying
    cost income ratio
    2023 Pro forma reported figures 22,198 (16,328)  
    Impact of exceptional items 89 (213)  
    2023 Pro forma underlying figures 22,108 (16,115) 72.9%

    Groupe BPCE : quarterly income statement per business line

      RETAIL BANKING
    & INSURANCE
    GLOBAL FINANCIAL SERVICES CORPORATE CENTER GROUPE
    BPCE
    €m Q4-24 Q4-23 Q4-24 Q4-23 Q4-24 Q4-23 Q4-24 Q4-23 %
    Net banking income 4,064 3,576 2,055 1,908 (73) (22) 6,046 5,462 11%
    Operating expenses (2,497) (2,499) (1,501) (1,394) (186) (237) (4,184) (4,129) 1%
    Gross operating income 1,567 1,077 553 514 (259) (259) 1,862 1,332 40%
    Cost of risk (556) (643) (86) (73) 46 (28) (596) (744) (20)%
    Income before tax 998 413 479 420 (215) (296) 1,262 537 x 2
    Income tax (222) (122) (124) (121) 19 84 (326) (159) x 2
    Non-controlling interests (5) 21 (18) (19) 0 1 (23) 3 ns
    Net income – Group share 772 312 337 280 (196) (211) 913 381 x 2

    Groupe BPCE : 2024 income statement per business line

      RETAIL BANKING
    & INSURANCE
    GLOBAL FINANCIAL SERVICES CORPORATE CENTER GROUPE
    BPCE
    €m 2024 2023 2024 2023 2024 2023 2024 2023 %
    Net banking income 15,397 14,828 7,947 7,358 (27) 12 23,317 22,198 5%
    Operating expenses (9,902) (9,815) (5,651) (5,269) (831) (1,244) (16,384) (16,328) 0%
    Gross operating income 5,495 5,013 2,296 2,088 (858) (1,232) 6,933 5,870 18%
    Cost of risk (1,751) (1,505) (268) (154) (43) (72) (2,061) (1,731) 19%
    Income before tax 3,807 3,526 2,051 1,966 (902) (1,310) 4,956 4,182 19%
    Income tax (891) (882) (534) (507) 67 49 (1,357) (1,340) 1%
    Non-controlling interests (14) 18 (66) (56) 1 1 (79) (38) x 2
    Net income – Group share 2,902 2,661 1,452 1,402 (834) (1,260) 3,520 2,804 26%

    Groupe BPCE : quarterly series

    GROUPE BPCE
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 5,815 5,467 5,455 5,462 5,753 5,626 5,892 6,046
    Operating expenses (4,587) (3,799) (3,812) (4,129) (4,151) (4,008) (4,041) (4,184)
    Gross operating income 1,228 1,667 1,642 1,332 1,602 1,618 1,851 1,862
    Cost of risk (326) (342) (319) (744) (382) (560) (523) (596)
    Income before tax 968 1,337 1,339 537 1,233 1,124 1,336 1,262
    Net income – Group share 533 973 917 381 875 806 925 913

    Groupe BPCE : Consolidated balance sheet

    ASSETS
    €m
    Dec. 31, 2024 Dec. 31, 2023
    Cash and amounts due from central banks 133,186 152,669
    Financial assets at fair value through profit or loss 230,521 214,582
    Hedging derivatives 7,624 8,855
    Financial assets at fair value through other comprehensive income 57,166 48,073
    Securities at amortized cost 27,021 26,373
    Loans and advances to banks and similar at amortized cost 115,862 108,631
    Loans and receivables due from customers at amortized cost 851,843 839,457
    Revaluation difference on interest rate risk-hedged portfolios (856) (2,626)
    Financial investments of insurance activities 115,631 103,615
    Insurance contracts issued – Assets 1,134 1,124
    Reinsurance contracts held – Assets 9,320 9,564
    Current tax assets 640 829
    Deferred tax assets 4,160 4,575
    Accrued income and other assets 16,444 14,611
    Non-current assets held for sale 438
    Investments in accounted for using equity method 2,146 1,616
    Investment property 733 717
    Property, plant and equipment 6,085 6,023
    Intangible assets 1,147 1,110
    Goodwill 4,312 4,224
    TOTAL ASSETS 1,584,558 1,544,022
    LIABILITIES
    €m
    Dec. 31, 2024 Dec. 31, 2023
    Amounts due to central banks 1 2
    Financial liabilities at fair value through profit or loss 218,963 204,023
    Hedging derivatives 14,260 14,973
    Debt securities 304,957 292,598
    Amounts due to banks and similar 69,953 79,634
    Amounts due to customers 723,090 711,658
    Revaluation difference on interest rate risk-hedged portfolios, liabilities 14 159
    Insurance contracts issued – Liabilities 117,551 106,137
    Reinsurance contracts held – Liabilities 119 149
    Current tax liabilities 2,206 2,026
    Deferred tax liabilities 1,323 1,640
    Accrued expenses and other liabilities 20,892 22,492
    Liabilities associated with non-current assets held for sale 312
    Provisions 4,748 4,825
    Subordinated debt 18,401 18,801
    Shareholders’ equity 87,768 84,905
    Equity attributable to equity holders of the parent 87,137 84,351
    Non-controlling interests 630 553
    TOTAL LIABILITIES 1,584,558 1,544,022

    Groupe BPCE : Goodwill

    €m Dec. 31, 2023 Acquisitions IRFS5 reclassifications Translation adjustments Dec. 31, 2024
    Retail Banking & Insurance 822 58     879
    Asset & Wealth Management 3,257 1 (72) 95 3,280
    Corporate & Investment Banking 144     7 151
    Total 4,224 58 (72) 102 4,312

    Groupe BPCE: Statement of changes in shareholders’ equity

    €m Equity attributable to shareholders’ equity
    December 31, 2023 84,407
    Restatements1 (56)
    December 31, 2023 restated 84,351
    Distributions (833)
    Change in capital (cooperative shares) 90
    Impact of acquisitions and disposals on non-controlling interests (minority interests) (48)
    Income 3,520
    Changes in gains & losses directly recognized in equity 144
    Capital gains and losses reclassified as reserves (31)
    Others (56)
    December 31, 2024 87,137

    1 Opening shareholders’ equity has been adjusted for Funding Valuation Adjustments whose non-material impact on income has not given rise to a change in the latter in the 2024 consolidated financial statements

    Retail Banking & Insurance: quarterly income statement

      BANQUE POPULAIRE NETWORK CAISSE D’EPARGNE NETWORK FINANCIAL SOLUTIONS & EXPERTISE INSURANCE DIGITAL & PAYMENTS OTHER NETWORK RETAIL BANKING & INSURANCE
    €m Q4-24 Q4-23 % Q4-24 Q4-23 % Q4-24 Q4-23 % Q4-24 Q4-23 % Q4-24 Q4-23 % Q4-24 Q4-23 % Q4-24 Q4-23 %  
    Net banking income 1,614 1,382 17% 1,616 1,423 14% 334 335 (0)% 171 146 17% 227 199 14% 101 91 12% 4,064 3,576 14%  
    Operating expenses (980) (975) 1% (1,084) (1,081) 0% (169) (167) 1% (36) (41) (10)% (173) (171) 1% (53) (63) (16)% (2,497) (2,499) (0)%  
    Gross operating income 634 407 56% 531 343 55% 165 168 (2)% 135 105 28% 54 27 96% 48 28 75% 1,567 1,077 45%  
    Cost of risk (266) (282) (6)% (205) (218) (6)% (38) (54) (31)%       (33) (69) (52)% (15) (19) (23)% (556) (643) (13)%  
    Income before tax 352 149 x2 328 126 x3 125 112 12% 141 107 32% 20 (89) ns 33 9 x4 998 413 x2  
    Income tax (73) (45) 62% (78) (20) x4 (33) (27) 22% (29) (25) 16% 0 (2) ns (8) (2) x4 (222) (122) 82%  
    Non-controlling interests (0) (6) (94)% (1) (3) (66)% 0 (0) ns 0 (1) ns (3) 30 ns       (5) 21 ns  
    Net income – Group share 278 98 x3 248 103 x2 92 85 8% 112 81 39% 16 (61) ns 25 7 x4 772 312 x2  
      BANQUE POPULAIRE NETWORK CAISSE D’EPARGNE NETWORK FINANCIAL SOLUTIONS & EXPERTISE INSURANCE DIGITAL & PAYMENTS OTHER NETWORK RETAIL BANKING & INSURANCE
    €m 2024 2023 % 2024 2023 % 2024 2023 % 2024 2023 % 2024 2023 % 2024 2023 % 2024 2023 %  
    Net banking income 6,098 5,862 4% 6,054 5,858 3% 1,303 1,274 2% 694 633 10% 873 816 7% 375 384 (2)% 15,397 14,828 4,%  
    Operating expenses (4,047) (3,970) 2% (4,216) (4,181) 1% (636) (630) 1% (143) (163) (12)% (646) (652) (1)% (213) (218) (2)% (9,902) (9,815) 1%  
    Gross operating income 2,051 1,892 8% 1,838 1,677 10% 667 644 3% 550 470 17% 227 164 39% 162 166 (2)% 5,495 5,013 10%  
    Cost of risk (814) (651) 25% (640) (553) 16% (108) (98) 11%       (126) (171) (26)% (62) (33) 89% (1,751) (1,505) 16%  
    Income before tax 1,285 1,308 (2)% 1,200 1,125 7% 555 545 2% 566 475 19% 97 (68) ns 103 140 (26)% 3,807 3,526 8%  
    Income tax (307) (329) (7)% (264) (254) 4% (146) (140) 4% (123) (99) 24% (27) (25) 9% (24) (35) (30)% (891) (882) 1%  
    Non-controlling interests (9) (24) (64)% (5) (7) (24)% 0 (0) ns 0 (0) ns (0) 49 ns       (14) 18 ns  
    Net income – Group share 970 954 2% 931 864 8% 409 405 1% 443 376 18% 70 (43) ns 79 106 (25)% 2,902 2,661 9%  

    Retail Banking & Insurance: 2024 income statement

    Retail banking & insurance: quarterly series

    RETAIL BANKING & INSURANCE
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 3,903 3,640 3,709 3,576 3,763 3,701 3,869 4,064
    Operating expenses (2,497) (2,460) (2,359) (2,499) (2,547) (2,456) (2,403) (2,497)
    Gross operating income 1,406 1,180 1,350 1,077 1,217 1,245 1,467 1,567
    Cost of risk (308) (252) (302) (643) (296) (475) (423) (556)
    Income before tax 1,118 936 1,058 413 934 831 1,044 998
    Net income – Group share 851 713 785 312 709 637 785 772

    Retail Banking & Insurance: Banque Populaire and Caisse d’Epargne networks quarterly series

    BANQUE POPULAIRE NETWORK
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 1,569 1,442 1,469 1,382 1,489 1,489 1,506 1,614
    Operating expenses (1,018) (1,015) (961) (975) (1,043) (1,025) (999) (980)
    Gross operating income 551 427 508 407 445 464 508 634
    Cost of risk (132) (110) (127) (282) (125) (228) (195) (266)
    Income before tax 434 328 398 149 329 290 315 352
    Net income – Group share 332 240 284 98 252 210 230 278
                     
    CAISSE D’EPARGNE NETWORK
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 1,537 1,465 1,432 1,423 1,454 1,467 1,517 1,616
    Operating expenses (1,066) (1,041) (993) (1,081) (1,085) (1,038) (1,008) (1,084)
    Gross operating income 470 424 440 343 368 429 509 531
    Cost of risk (136) (84) (115) (218) (100) (176) (159) (205)
    Income before tax 334 340 325 126 270 252 350 328
    Net income – Group share 253 256 253 103 208 194 281 248

    Retail Banking & Insurance: FSE quarterly series

    FINANCIAL SOLUTIONS & EXPERTISE
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 315 306 318 335 327 320 322 334
    Operating expenses (157) (151) (154) (167) (162) (154) (151) (169)
    Gross operating income 158 155 164 168 166 166 171 165
    Cost of risk (6) (19) (18) (54) (24) (22) (24) (38)
    Income before tax 151 136 146 112 141 143 146 125
    Net income – Group share 112 102 107 85 104 106 108 92

    Retail Banking & Insurance: Insurance quarterly series

    INSURANCE
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 180 126 181 146 188 118 217 171
    Operating expenses (43) (37) (42) (41) (42) (25) (40) (36)
    Gross operating income 137 89 139 105 146 93 177 135
    Income before tax 139 93 137 107 149 99 177 141
    Net income – Group share 109 83 103 81 113 92 126 112

    Retail Banking & Insurance: Digital & Payments quarterly series

    DIGITAL & PAYMENTS
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 205 203 209 199 215 214 218 227
    Operating expenses (161) (163) (157) (171) (160) (159) (154) (173)
    Gross operating income 44 40 52 27 55 55 64 54
    Cost of risk (32) (41) (29) (69) (31) (32) (30) (33)
    Income before tax 8 (6) 19 (89) 24 22 32 20
    Net income – Group share 7 (3) 13 (61) 17 16 21 16

    Retail Banking & Insurance: Other network quarterly series

    OTHER NETWORK
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 97 97 99 91 91 93 90 101
    Operating expenses (51) (52) (52) (63) (55) (55) (51) (53)
    Gross operating income 46 45 47 28 37 38 39 48
    Cost of risk (2) 2 (14) (19) (16) (17) (14) (15)
    Income before tax 52 47 33 9 20 25 25 33
    Net income – Group share 39 36 25 7 16 19 20 25

    Global Financial Services: quarterly income statement per business line

      ASSET AND WEALTH MANAGEMENT CORPORATE & INVESTMENT
    BANKING
    GLOBAL FINANCIAL
    SERVICES
    €m Q4-24 Q4-23 Q4-24 Q4-23 Q4-24 Q4-23 %
    Net banking income 968 874 1,087 1,034 2,055 1,908 8%
    Operating expenses (763) (691) (738) (703) (1,501) (1,394) 8%
    Gross operating income 205 183 349 331 553 514 8%
    Cost of risk 12 (12) (98) (62) (86) (73) 18%
    Share in net income of associates 0 0 12 4 12 4 x3
    Gains or losses on other assets 0 (7) 0 (17) 0 (24) ns
    Income before tax 217 165 262 255 479 420 14%
    Net income – Group share 143 105 194 176 337 280 20%

    Global Financial Services: 2024 income statement per business line

      ASSET AND WEALTH MANAGEMENT CORPORATE & INVESTMENT
    BANKING
    GLOBAL FINANCIAL
    SERVICES
    €m 2024 2023 2024 2023 2024 2023 %
    Net banking income 3,507 3,192 4,440 4,166 7,947 7,358 8%
    Operating expenses (2,763) (2,604) (2,889) (2,666) (5,651) (5,269) 7%
    Gross operating income 744 588 1,551 1,500 2,296 2,088 10%
    Cost of risk 14 4 (282) (158) (268) (154) 73%
    Share in net income of associates 0 0 23 13 23 14 67%
    Gains or losses on other assets 0 35 0 (17) 0 18 ns
    Income before tax 759 627 1,293 1,338 2,051 1,966 4%
    Net income – Group share 500 425 952 977 1,452 1,402 4%

    Global Financial Services: quarterly series

    GLOBAL FINANCIAL SERVICES
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24  
    Net banking income 1,854 1,829 1,767 1,908 1,933 1,983 1,976 2,055  
    Operating expenses (1,305) (1,287) (1,283) (1,394) (1,368) (1,366) (1,415) (1,501)  
    Gross operating income 549 542 483 514 564 617 561 553  
    Cost of risk 27 (91) (17) (73) (58) (82) (41) (86)  
    Income before tax 621 455 470 420 510 539 525 479  
    Net income – Group share 458 322 341 280 364 384 366 337  

    Corporate & Investment Banking: quarterly series

    CORPORATE & INVESTMENT BANKING
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24  
    Net banking income 1,074 1,056 1,002 1,034 1,102 1,133 1,118 1,087  
    Operating expenses (661) (651) (650) (703) (706) (694) (751) (738)  
    Gross operating income 412 405 352 331 396 439 367 349  
    Cost of risk 21 (90) (28) (62) (54) (91) (39) (98)  
    Income before tax 437 318 328 255 346 352 333 262  
    Net income – Group share 321 233 247 176 255 261 242 194  

    Asset & Wealth Management: quarterly series

    ASSET & WEALTH MANAGEMENT
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24  
    Net banking income 781 773 764 874 830 850 858 968  
    Operating expenses (644) (636) (633) (691) (662) (673) (664) (763)  
    Gross operating income 137 137 131 183 168 178 194 205  
    Cost of risk 6 (1) 11 (12) (5) 9 (2) 12  
    Income before tax 184 136 143 165 163 187 192 217  
    Net income – Group share 137 89 94 105 109 123 124 143  

    Corporate center: quarterly series

    CORPORATE CENTER
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 57 (3) (21) (22) 57 (58) 46 (73)
    Operating expenses (785) (52) (170) (237) (236) (186) (223) (186)
    Gross operating income (728) (55) (191) (259) (179) (244) (176) (259)
    Cost of risk (46) 1 0 (28) (28) (2) (59) 46
    Share in income of associates 2 0 1 (9) 3 0 1 5
    Gains or losses on other assets (0) 0 (0) (0) (6) 1 3 (8)
    Income before tax (771) (54) (189) (296) (210) (245) (232) (215)
    Net income – Group share (776) (63) (210) (211) (198) (215) (226) (196)

    DISCLAIMER

    This document may contain forward-looking statements and comments relating to the objectives and strategy of Groupe BPCE. By their very nature, these forward-looking statements inherently depend on assumptions, project considerations, objectives and expectations linked to future events, transactions, products and services as well as on suppositions regarding future performance and synergies.

    No guarantee can be given that such objectives will be realized; they are subject to inherent risks and uncertainties and are based on assumptions relating to the Group, its subsidiaries and associates and the business development thereof; trends in the sector; future acquisitions and investments; macroeconomic conditions and conditions in the Group’s principal local markets; competition and regulation. Occurrence of such events is not certain, and outcomes may prove different from current expectations, significantly affecting expected results. Actual results may differ significantly from those anticipated or implied by the forward-looking statements. Groupe BPCE shall in no event have any obligation to publish modifications or updates of such objectives.

    Information in this presentation relating to parties other than Groupe BPCE or taken from external sources has not been subject to independent verification; the Group makes no statement or commitment with respect to this third-party information and makes no warranty as to the accuracy, fairness, precision or completeness of the information or opinions contained in this press release. Neither Groupe BPCE nor its representatives shall be held liable for any errors or omissions or for any harm that may result from the use of this presentation or of its contents or any related material, or of any document or information referred to in this presentation.

    The financial information presented in this document relating to the fiscal period ended December 31, 2024 has been drawn up in compliance with IFRS standards, as adopted in the European Union.
    This financial information is not the equivalent of summary financial statements for an interim period as defined by IAS 34 “Interim Financial Reporting”.

    Preparation of the financial information requires Management to make estimates and assumptions in certain areas regarding uncertain future events.

    These estimates are based on the judgment of the individuals preparing this financial information and the information available at the date of the balance sheet. Actual future results may differ from these estimates. For further information, see chapter 5, part 5.1, note 2.3 “Use of estimates and judgments” of the Universal Registration Document 2023 filed with the Autorité des Marchés Financiers, the French financial markets authority.
    With respect to the financial information of Groupe BPCE for the quarter ended December 31, 2024, and in view of the context mentioned above, attention should be drawn to the fact that the estimated increase in credit risk and the calculation of expected credit losses (IFRS 9 provisions) are largely based on assumptions that depend on the macroeconomic context.

    Significant factors liable to cause actual results to differ from those anticipated in the projections are related to the banking and financial environment in which Groupe BPCE operates, which exposes it to a multitude of risks. These potential risks liable to affect Groupe BPCE’s financial results are detailed in the “Risk factors & risk management” chapter of the latest amendment to the 2023 Universal Registration Document filed with the Autorité des Marchés Financiers.

    Investors are advised to consider the uncertainties and risk factors liable to affect the Group’s operations when examining the information contained in the projection elements.

    The financial results contained in this presentation have not been reviewed by the statutory auditors. The quarterly financial information of Groupe BPCE for the period ended December 31, 2024, approved by the Management Board at a meeting convened on February 3, 2025, were verified and reviewed by the Supervisory Board at a meeting convened on February 5, 2025.

    The sum of the values shown in the tables and analyses may differ slightly from the total reported owing to rounding effects.

    About Groupe BPCE
    Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the wholesale banking expertise of Natixis Corporate & Investment Banking and with the asset & wealth management services provided by Natixis Investment Managers.
    The Group’s financial strength is recognized by four financial rating agencies: Moody’s (A1, stable outlook), Standard & Poor’s (A+, stable outlook), Fitch (A+, stable outlook) and R&I (A+, stable outlook).

             groupebpce.com

    Attachment

    The MIL Network

  • MIL-OSI: SOITEC REPORTS FY’25 THIRD QUARTER REVENUE

    Source: GlobeNewswire (MIL-OSI)

    SOITEC REPORTS FY’25 THIRD QUARTER REVENUE

    • Reaching €226m, Q3’25 revenue was almost stable vs. Q2’25 and down 10% at constant exchange rates and perimeter compared with Q3’24
    • 9M’25 revenue reached €564m, down 12% on a reported basis and decreased by 13% at constant exchange rates and perimeter vs. 9M’24
    • FY’25 guidance revised: revenue expected to decrease by high single digit year-on-year at constant exchange rates and perimeter (compared to flat previously), and EBITDA1margin2expected between 32% and 34% (compared to around 35% previously)
    • Given the current lack of visibility on end markets, Soitec expects at this stage quite limited growth for FY’26

    Bernin (Grenoble), France, February 5th, 2025 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced consolidated revenue of 226 million Euros for the third quarter of FY’25 (ended December 29th, 2024), down 6% on a reported basis compared to the third quarter of FY’24. This reflects a 10% decline at constant exchange rates and perimeter, a positive currency impact of 5% and a negative scope effect3 of 1%.

    Pierre Barnabé, Soitec’s CEO, commented: “After a very strong sequential rebound in the second quarter, we maintained the third-quarter revenue at a fairly similar level. The good performance of the Mobile Communications division was driven by sustained momentum in POI, and a seasonal tailwind in RF-SOI sales. Despite seasonal restocking in the second half of the fiscal year, the customers continue to optimize RF-SOI inventory levels based on seasonality and market conditions, which will keep driving fluctuations over the next few quarters. At the same time, we are strengthening our position as a leader, notably with the introduction of new innovative 300mm products. The Automotive and Industrial division continues to be impacted by a weak automotive market. In Edge & Cloud AI, the momentum remains strong, supported by significant investments in cloud infrastructure across the industry to accelerate AI computing power, as well as increasing demand at the edge for lower energy consumption and processing costs.

    Due to worsening conditions in the Automotive and Consumer markets, a couple of customers have requested to put some delivery requests on hold. As a consequence, we are adjusting our guidance for fiscal year 2025, with annual revenue expected to decrease by high single digit year-on-year. We are managing our EBITDA margin to be between 32% and 34%.

    With the lack of visibility on our end markets for now, it is also too early to provide specific guidance for fiscal year 2026. Given current market conditions, we expect at this stage quite limited growth for fiscal year 2026.

    Our fundamentals remain solid and will allow us to accelerate as end markets recover. We continue to enhance our technology leadership, to strengthen our SOI positioning with both existing and new customers, and to deploy our expansion into compound semiconductors with the acceleration of POI volumes and a fifth customer in qualification on SmartSiCTM.”

    Third quarter FY’25 consolidated revenue (unaudited)

      Q3’25 Q3’24 Q3’25/Q3’24
             
             
    (Euros millions)     change reported chg. at const. exch. rates & perimeter
             
    Mobile Communications 154 130 +18% +11%
    Automotive & Industrial 25 44 -43% -47%
    Edge & Cloud AI 47 65 -28% -30%
             
    Revenue 226 240 -6% -10%

    Q3’25 revenue reached 226 million Euros. After the sharp sequential increase achieved in Q2’25, it was up 4% versus Q2’25 on a reported basis (down 2% at constant exchange rates and perimeter). Compared to Q3’24, it was down 10% at constant exchange rates and perimeter.

    Q3’25 revenue reflected an improved performance in Mobile Communications and a weaker performance in Automotive & Industrial as well as in Edge & Cloud AI which was due to a different phasing in Imager-SOI wafer sales.

    Mobile Communications

    Mobile Communications revenue reached 154 million Euros in Q3’25, up 11% at constant exchange rates and perimeter compared to Q3’24. In the context of a healthier smartphone market and inventory situation, Mobile Communications revenue continued to recover in Q3’25 after the sharp rebound already experienced in Q2’25.

    As expected, growth in RF-SOI wafer sales has resumed. Q3’25 sales were significantly higher than in Q2’25, and also higher than in Q3’24. While reflecting different situations, inventories in the overall supply chain now seem to progressively normalize. Soitec is confident that growth in RF-SOI wafer sales will continue in Q4’25. Soitec continues to reinforce its strong customer intimacy, leveraging state-of-the-art Innovation capabilities to develop leading-edge products, as evidenced by the announcement of its commitment to provide GlobalFoundries with its latest generation of RF-SOI 300mm wafers to support GF’s most advanced 9SW platform.

    Sales of POI (Piezoelectric-on-Insulator) wafers dedicated to RF filters continue to grow quarter after quarter, as the adoption of Surface Acoustic Wave (SAW) filters on POI is accelerating with ten active customers in production, and more than ten in qualification. Q3’25 POI wafer sales were significantly higher than in Q2’25 and Q3’24. Soitec is engaged with all leading US fabless companies.

    Sales of FD-SOI wafers, the only solution for fully integrated 5G mmWave system-on-chip, have made further progress in Q3’25, showing an increase from Q2’25 as well as growth compared to Q3’24.

    Automotive & Industrial

    Automotive & Industrial revenue reached 25 million Euros in Q3’25, lower than in Q2’25 and down 47% at constant exchange rates and perimeter compared Q3’24, reflecting the ongoing difficulties of the automotive market.

    Power-SOI wafer sales reached a particularly low level in Q3’25, as the ongoing weakness of the automotive market is leading to some inventory adjustments at customer level. Power-SOI remains a key component for gate drivers, in vehicle networking and in Battery Management ICs.

    Conversely, FD-SOI wafers recorded a better level of sales in Q3’25 than in Q3’24. Automotive FD-SOI continue to be mostly driven by adoption for microcontrollers, radar and wireless connectivity, delivering on superior performance and power efficiency.

    Further SmartSiCTM samples and prototypes were delivered during Q3’25, paving the way for new qualifications. Soitec has engaged with a fifth customer in a qualification process. The current weakness of the automotive market and the longer than initially anticipated customers’ qualification cycles confirm a delay in the expected wafer production ramp-up, as stated earlier this year.

    Edge & Cloud AI

    Edge & Cloud AI revenue reached 47 million Euros in Q3’25, down 30% at constant exchange rates and perimeter compared to Q3’24. Performance was however contrasted from one product to another.

    Demand in Photonics-SOI wafers continue to benefit from a very positive momentum driven by high investments in Cloud infrastructure. Sales of Photonics-SOI were much stronger in Q3’25 than in Q2’25, and significantly higher than in Q3’24. This reflects the need for more powerful and more energy-efficient data centers to support the exponential growth of AI-related computing power capabilities. Photonics-SOI has become a standard technology platform for high-speed and high bandwidth optical interconnections in data centers, adopted in pluggable optical transceivers, and used for the development of Co-Packaged Optics.

    Sales of FD-SOI wafers remained as strong as in Q2’25 but were lower than in Q3’24. FD-SOI technology is a key enabler for AI-driven consumer and industrial IoT applications due to its unique power efficiency, performance, thermal management and reliability advantages.

    Sales of Imager-SOI wafers for 3D imaging applications are down year-on-year, reflecting the phase out of this product.

    First nine months FY’25 consolidated revenue (unaudited)

      9M’25 9M’24 9M’25/9M’24
             
    (Euros millions)     change reported chg. at const. exch. rates & perimeter
             
    Mobile Communications 326 388 -16% -18%
    Automotive & Industrial 84 119 -29% -31%
    Edge & Cloud AI 154 133 +15% +16%
             
    Revenue 564 641 -12% -13%

    Consolidated revenue reached 564 million Euros in 9M’25, down 13% at constant exchange rates and perimeter compared to 641 million Euros in 9M’24.

    Overall, the decrease in Soitec’s 9M’25 revenue essentially reflects lower volumes in both RF-SOI and Power-SOI wafers, partly offset by strong performances in POI, Photonics-SOI and Imager-SOI wafers.

    Mobile Communications revenue reached 326 million Euros in 9M’25 (58% of total revenue), down 18% at constant exchange rates and perimeter compared to 9M’24, with significant improvement quarter after quarter over FY’25.

    Automotive & Industrial revenue amounted to 84 million Euros in 9M’25 (15% of total revenue), down 31% at constant exchange rates and perimeter compared to 9M’24, reflecting the current weakness of the automotive market.

    Edge & Cloud AI revenue reached 154 million Euros in 9M’25 (27% of total revenue), up 16% at constant exchange rates and perimeter compared to 9M’24, supported by strong growth of photonics SOI products.

    FY’25 outlook

    Soitec expects FY’25 revenue to be down high single digit year on year, at constant exchange rates and perimeter (compared to flat revenue previously) as a couple of customers requested to put some deliveries on hold on the back of worsening conditions in the Automotive and Consumer markets. This implies strong sequential growth in Q4’25, primarily driven by the continued recovery in RF-SOI wafer sales supported by some seasonal restocking. Additionally, Soitec will continue to benefit from strong demand for Photonics-SOI products and the growing adoption of POI.

    Soitec is managing FY’25 EBITDA1margin2 to be between 32% and 34%.

    FY’26 outlook

    With the lack of visibility on our end markets for now, it is too early to provide specific guidance for fiscal year 2026. Given current market conditions, Soitec expects at this stage quite limited growth for fiscal year 2026.

    Q3’25 key events

    Divestment of Dolphin Design’s main businesses

    Dolphin Design’s mixed-signal IP activities have been acquired on November 5th, 2024, by Jolt Capital, a private equity firm specializing in European deeptech investments. Dolphin Design’s ASIC activities were sold to NanoXplore, a major player in SoC and FPGA semiconductor design, on December 30th, 2024.

    Dolphin Design, acquired by Soitec in 2018, has long been at the forefront of delivering cutting-edge semiconductor design solutions in mixed-signal IP and ASICs.The sale of Dolphin Design’s two main business activities will support Soitec’s focus on strategic development and growth opportunities in its core advanced semiconductor materials business.

    Following these operations, Dolphin Design revenue will no longer be reported from Q4’25 onwards, and will have no impact on Soitec financial statements from FY’26.

    Appointment of Frédéric Lissalde as Chairman of the Board

    During the meeting of the Board of Directors held on November 20th, 2024, upon recommendation of the Compensation and Nominations Committee, Frédéric Lissalde, who has been Director since the Annual General Meeting held on July 23rd, 2024, was appointed as Chairman of the Board of Directors as of March 1st, 2025, for the remainder of his term of office as Director.

    Soitec to collaborate with GlobalFoundries in the production of high-performance RF-SOI semiconductors

    On December 4th, 2024, Soitec announced its commitment to deliver 300mm RF-SOI substrates to GlobalFoundries (GF) for the production of GF’s leading RF-SOI technology platforms, including the company’s most advanced RF solution, 9SW. Building on the longstanding relationship between the two companies, this commitment will ensure the supply of advanced RF-SOI engineered substrates required for 5G, 5G-Advanced, Wi-Fi, and other smart mobile device Radio Frequency Front-End (RFFE) modules. To support advanced connectivity, GF’s 9SW RF-SOI platform with its superior switching, low-noise amplifiers (LNA) and logic processing capabilities offers significant advantages and value for premium smartphones by delivering enhanced RF performance, improved power efficiency and scalability. These features are critical for ensuring a superior user experience in high-end devices.

    Soitec continues its collaboration with MIT’s Microsystems Technology Laboratories, thereby strengthening its presence in the United States

    On December 12th, 2024, Soitec announced the continuation of its research collaboration with the Microsystems Technology Laboratories (MTL) of the Massachusetts Institute of Technology (MIT). This agreement covers research in innovative semiconductor materials for diverse applications, including mobile communications, power devices, sensors and quantum computing. Soitec is thereby further solidifying its presence in the North American semiconductor sector, intensifying its efforts amidst favorable industrial and regulatory dynamics supporting semiconductor development.

    # # #

    Analysts conference call to be held in English on Thursday 6thFebruary at 8:00 am CET.

    To listen this conference call, the audiocast is available live and in replay at the following address: https://channel.royalcast.com/soitec/#!/soitec/20250206_1

    # # #

    Agenda

    FY’25 results are due to be published on May 27th, 2025, after market close.

    # # #

    Disclaimer

    This document is provided by Soitec (the “Company”) for information purposes only.

    The Company’s business operations and financial position are described in the Company’s 2023-2024 Universal Registration Document (which notably includes the Annual Financial Report) which was filed on June 5th, 2024, with the French stock market authority (Autorité des Marchés Financiers, or AMF) under number D.24-0462, as well as in the Company’s 2024-2025 half-year financial report released on November 20th, 2024. The French versions of the 2023-2024 Universal Registration Document and the 2024-2025 half-year financial report, together with English courtesy translations for information purposes of both documents, are available for consultation on the Company’s website (www.soitec.com), in the section Company – Investors – Financial Reports.

    Your attention is drawn to the risk factors described in Chapter 2.1 (Risk factors and controls mechanism) of the Company’s 2023-2024 Universal Registration Document.

    This document contains summary information and should be read in conjunction with the 2023-2024 Universal Registration Document and the 2024-2025 half-year financial report.

    This document contains certain forward-looking statements. These forward-looking statements relate to the Company’s future prospects, developments and strategy and are based on analyses of earnings forecasts and estimates of amounts not yet determinable. By their nature, forward-looking statements are subject to a variety of risks and uncertainties as they relate to future events and are dependent on circumstances that may or may not materialize in the future. Forward-looking statements are not a guarantee of the Company’s future performance. The occurrence of any of the risks described in Chapter 2.1 (Risk factors and controls mechanism) of the 2023-2024 Universal Registration Document may have an impact on these forward-looking statements.

    The Company’s actual financial position, results and cash flows, as well as the trends in the sector in which the Company operates may differ materially from those contained in this document. Furthermore, even if the Company’s financial position, results, cash-flows and the developments in the sector in which the Company operates were to conform to the forward-looking statements contained in this document, such elements cannot be construed as a reliable indication of the Company’s future results or developments.

    The Company does not undertake any obligation to update or make any correction to any forward-looking statement in order to reflect an event or circumstance that may occur after the date of this document.

    This document does not constitute or form part of an offer or a solicitation to purchase, subscribe for, or sell the Company’s securities in any country whatsoever. This document, or any part thereof, shall not form the basis of, or be relied upon in connection with, any contract, commitment or investment decision.

    Notably, this document does not constitute an offer or solicitation to purchase, subscribe for or to sell securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from the registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Company’s shares have not been and will not be registered under the Securities Act. Neither the Company nor any other person intends to conduct a public offering of the Company’s securities in the United States.

    # # #

    About Soitec

    Soitec (Euronext – Tech Leaders), a world leader in innovative semiconductor materials, has been developing cutting-edge products delivering both technological performance and energy efficiency for over 30 years. From its global headquarters in France, Soitec is expanding internationally with its unique solutions, and generated sales of 1 billion Euros in fiscal year 2023-2024. Soitec occupies a key position in the semiconductor value chain, serving three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge & Cloud AI (previously Smart Devices). The company relies on the talent and diversity of its 2,300 employees, representing 50 different nationalities, working at its sites in Europe, the United States and Asia. Soitec has registered over 4,000 patents.

    Soitec, SmartSiC™ and Smart Cut™ are registered trademarks of Soitec.

    For more information: https://www.soitec.com/en/ and follow us on X: @Soitec_Official

    # # #

    # # #

    Appendix

    Consolidated revenue per quarter (Q3’25 unaudited)

    Quarterly revenue Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25   9M’24 9M’25
     

    (Euros millions)

                       
                         
    Mobile Communications 89    169    130    222 48    124    154      388 326   
    Automotive & Industrial 37 38 44 44 26 33 25   119 84
    Edge & Cloud AI 31 37 65 70 46 61 47   133 154
                         
    Revenue 157    245    240    337 121    217    226      641    564   
    Change in quarterly revenue Q1’25/Q1’24 Q2’25/Q2’24 Q3’25/Q3’24   9M’25/9M’24
      Reported
    change
    Organic change1 Reported
    change
    Organic change1 Reported
    change
    Organic change1   Reported
    change
    Organic change1
    (vs. previous year)                  
                       
    Mobile Communications -45% -46% -27% -25% +18% +11%   -16% -18%
    Automotive & Industrial -29% -31% -13% -11% -43% -47%   -29% -31%
    Edge & Cloud AI +49% +47% +62% +66% -28% -30%   +15% +16%
                       
    Revenue -23% -24% -11% -9% -6% -10%   -12% -13%
    1. At constant exchange rates and comparable scope of consolidation (there was no scope effect in Q1’25 and Q2’25 vs. Q1’24 and Q2’24 – in Q3’25 Soitec sold Dolphin Design’s mixed signal IP activities on November 5th, 2024)

    # # #


    1 The EBITDA represents operating income (EBIT) before depreciation, amortization, impairment of non-current assets, non-cash items relating to share-based payments, provisions for impairment of current assets and for contingencies and expenses, and disposals gains and losses. This alternative indicator of performance is a non-IFRS quantitative measure used to measure the company’s ability to generate cash from its operating activities. EBITDA is not defined by an IFRS standard and must not be considered an alternative to any other financial indicator

    2 EBITDA margin = EBITDA from continuing operations / Revenue

    3 The scope effect is related to the divestment of Dolphin Design’s mixed signal IP activities which was completed on November 5th, 2024

    Attachment

    The MIL Network

  • MIL-OSI Europe: Foreign digital interference – Publication of the VIGINUM report on information manipulation (05.02.25)

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    Amid a surge in attempts to interfere with European election processes, specifically via digital platforms, the Ministry for Europe and Foreign Affairs and the Minister Delegate for Europe are particularly committed to supporting our affected partners and using all the necessary tools at the European and national levels to safeguard the integrity of elections.

    In this regard, the Service for Vigilance and Protection against Foreign Digital Interference (VIGINUM) published a report today on the particularly egregious examples of information manipulation seen in the 2024 Romanian presidential election. The report analyzes the methods used on TikTok to artificially promote certain content and exploit influencers. It assesses the risk of such methods being used in France.

    France supported the European Commission’s measures vis-à-vis TikTok in such cases and stands with Romania to combat foreign digital interference targeting our democracies. Minister Delegate for Europe Benjamin Haddad will be in Bucharest on February 5 and 6 to discuss these subjects.

    France calls for the swift and full implementation of the Digital Services Act (DSA) as well as the completion of current investigations into certain digital platforms, as requested in a letter co-signed by 11 other Member States that was sent to the Commission last week.

    MIL OSI Europe News

  • MIL-OSI Global: Trump’s Gaza threat shows the Middle East is both safer and more turbulent post-war

    Source: The Conversation – Canada – By Kevin Budning, Postdoctoral Research Fellow, National Security, Carleton University

    United States President Donald Trump’s suggestion that the U.S. will take over war-torn Gaza and create a “Riviera of the Middle East” has been immediately condemned by the international community, including American allies and adversaries alike.

    His threats come just two weeks into the ceasefire deal between Israel and Hamas, and risk undermining the regional diplomatic efforts that made the ceasefire deal possible.




    Read more:
    Trump wants the US to ‘take over’ Gaza and relocate the people. Is this legal?


    Structured in three phases, the ceasefire agreement involves the exchange of Israeli hostages for some Palestinian prisoners; the withdrawal of Israeli forces along the Philadelphi and Netzarim corridors; and the return of vital humanitarian assistance needed to rebuild a war-torn Gaza — not to “clean it out,” as Trump has proposed.

    In the post-war landscape — and amid Trump’s threats as he stood next to Israeli Prime Minister Benjamin Netanyahu at the White House — Israel now likely finds itself in a paradoxical situation: both better and worse off.

    On the one hand, Israel is more secure than ever before. It has leveraged the shock of the Oct. 7 attacks to reshape the regional balance of power, demonstrating military strength and restoring deterrence.

    On the other hand, Israel’s relentless bombardment of Gaza, its unwillingness to yield to public pressure and its perceived disregard for international law and the rules-based order have isolated the country, arguably turning it into a pariah on the world stage.

    Capitalizing on catastrophe

    Historically, Israel has implemented a counter-insurgency strategy known as “mowing the grass,” designed to weaken its adversaries through limited targeted military campaigns that deliberately stop short of full destruction.

    The strategy never intended to address the root causes of the conflict. Rather, it focused on preventing Hamas from launching large-scale, credible attacks against Israel.

    Oct. 7 was precisely what “mowing the grass” sought to obviate. The security lapse, however, inadvertently created ripe conditions for Israel to justify — even for a limited time — a much larger and more destructive campaign against Palestinian militant groups. A window had emerged, and Israel seized it.

    Israel’s ground and aerial campaign over the past 15 months has significantly weakened the group, although, as demonstrated by a recent show of force, it has not been eliminated.

    The Israeli military’s control over key border points, the destruction of tunnels used to carry out attacks and smuggle weapons and the targeted killings of political leaders may make it difficult for Hamas to inflict similar levels of carnage again any time soon.

    Hezbollah in the north

    Like in Gaza, the Israeli government used Hezbollah’s relentless rocket attacks to justify a separate military campaign deep into Lebanese territory.

    In the span of a few weeks, the offensive reportedly killed more than 4,000 Hezbollah fighters, destroyed key weapon caches and critical infrastructure and pushed the group north of the Litani River, approximately 30 kilometres from the Israeli border.

    Israel further shocked the world when it simultaneously detonated pagers and walkie-talkies used by Hezbollah militants. This was followed by a string of targeted killings that included Hezbollah’s long-time leader, Hassan Nasrallah, and his then-successor, Hashem Safieddine.

    The decapitation of the Hezbollah’s chain of command, combined with its failure to mount an effective counteroffensive, revealed that the group is far weaker than projected. This, in turn, forced Hezbollah to make significant concessions and capitulate to a ceasefire agreement that worked against its interests.

    The wider region

    The Iran-backed Houthi movement in Yemen also entered the conflict by seizing Israeli and western-owned ships and launching a series of drone and missile attacks toward Israel.

    But Israel responded with greater force, showcasing its ability to conduct large-scale missile, drone and aerial strikes thousands of kilometres away in Yemen.




    Read more:
    Western strikes against Houthis risk igniting a powderkeg in the Middle East


    And for the first time, Israel and Iran engaged in direct tit-for-tat escalatory exchanges, sparking fears of an all-out regional war. Israel’s defence systems, backed by allies and neighbouring countries, successfully thwarted hundreds of Iranian missiles.

    Israel’s response successfully bypassed Iran’s anti-missile defence systems, sending a decisive message of military superiority. Israel also demonstrated its intelligence advantage by assassinating Hamas leader Ismail Haniyeh in Iran while he was residing at a compound secured by the Islamic Revolutionary Guard Corps.

    The collapse of Syria’s Assad regime also created a power vacuum, prompting Israel to conduct hundreds of airstrikes aimed at destroying weapons abandoned by the Syrian army, surface-to-air defence missile systems and to seize strategic territory close to its border.

    Israel’s increasing presence within Syria and dominance over the airspace now makes it considerably easier to intercept the supply chain between Iran and Hezbollah.

    All for a cost

    Israel’s push to deter its adversaries and restore its standing as the regional powerhouse, however, has come at a high price: its reputation.

    Diplomatically, some of Israel’s closest allies, including Canada, France and the United Kingdom, have either banned or restricted arms sales to Israel.

    The once-universal support for Israel in the U.S. from both the Republican and Democratic parties became considerably strained. The United Nations General Assembly also voted overwhelmingly for the Security Council to consider admitting Palestine as the 194th member — a move viewed by Israel as a reward for Oct. 7.

    Israel also faces a public relations crisis at the International Criminal Court, where it is currently on trial for allegedly violating the Genocide Convention in relation to Palestinians in the Gaza Strip. Likewise, the court issued a warrant for Netanyahu and former Defence Minister Yoav Gallant for “intentionally depriving Gazans of food and directing attacks against civilians.”

    The ripple effects of Israel’s actions have spilled overseas, affecting much of the world, and especially the younger generations’ public opinion of the conflict.

    In the U.S., for example, a Pew Research Report found that Americans under 30 are considerably more likely to sympathize with Palestinians than Israelis. The results are similar in Canada, with youth between the ages of 18 and 24 reporting support for Hamas over Israel by a two-to-one margin.

    Is Israel more or less secure?

    While Israel’s response to Iran and the “axis of resistance” have positioned the country into a safer, more militarily dominant position than before the war, the consequences of this strategy may be short-lived.

    The images from Gaza — the loss of civilian life, displaced families, and starving children with no viable prospect of a future — have shifted public opinion against Israel. This has frayed diplomatic relations with once-dependable allies — although apparently not the U.S — upended the wider Middle East peace process, and fuelled a resurgence of antisemitism, especially on college campuses, not seen since before the Holocaust.

    But most of all, Israel’s response to Oct. 7 may unintentionally serve as the most powerful recruitment tool for future cycles of Palestinian violence. To many, especially the youth around the world, it is possible that future violence may come to be viewed as a legitimate form of resistance.

    And if that is the case, coupled with the unlikely prospect of Israel permanently deterring Iran and its proxies and with an American president who is in favour of relocating Gaza’s entire population and taking over the territory, Israel could find itself in a more precarious situation than ever before.

    The views expressed in this work are those of the author and do not reflect the official positions or opinions of the Government of Canada

    ref. Trump’s Gaza threat shows the Middle East is both safer and more turbulent post-war – https://theconversation.com/trumps-gaza-threat-shows-the-middle-east-is-both-safer-and-more-turbulent-post-war-247868

    MIL OSI – Global Reports

  • MIL-OSI Security: Attorney General Loretta E. Lynch Delivers Statement at Briefing to Discuss the U.S. Government’s Ongoing Counterterrorism Efforts

    Source: United States Attorneys General 13

    As I’ve said previously, we stand in solidarity with the people of France at this difficult time.  We are committed to providing any and all assistance to our allies in Europe and around the world as we all face this global threat.  Now we’ve made that commitment clear, not just with words, but with our actions.  The Department of Justice, the FBI and other agencies are in close contact with French authorities, through our international legal assistance channels, to provide support to the French in their ongoing investigation, to coordinate strategies with them, and to advance our shared efforts as we obtain further information that may be relevant to these attacks.  We are operating on an expedited basis, as well, to ensure that the victim assistance professionals at the Department of Justice and the FBI are available to assist the victims and their families.  We’ve also expanded the FBI’s legal attaché office in Paris to offer assistance on an as-needed basis, and we have personnel working day and night to respond to any additional requests for assistance.  Now earlier today, President Obama spoke by phone with President Hollande to discuss the latest developments in the investigation and to reaffirm our partnership in the fight against terrorism.

    Now of course, our highest priority is and will remain the security of our homeland and the safety of all Americans.  At the Department of Justice, we are operating around the clock, as we have since 9/11 and even before, to uncover and disrupt any plot that take aim at our people, our infrastructure and our way of life.  We take all threats seriously, we’re acting aggressively to defuse threats as they emerge, and we are vigorously investigating and prosecuting those who seek to harm the American people. 

    In fact, since 2013, we have charged more than 70 individuals for conduct related to foreign-fighter interests and homegrown violent extremism, and we continue to take robust actions to monitor and to thwart potential extremist activity.  The Department of Justice and the FBI are working closely with the Department of Homeland Security, with the broader intelligence community and our partners around the world in all of these efforts, and we are bringing every resource to bear in the service of our mission.

    As I think it’s important to note, that as we do this work, we are guided, obviously, by our commitment to the protection of the American people, but also by our commitment to the protection of our American values, which include the timeless principles of inclusivity and freedom that have always made this country great.  We need to say, we will not let our actions be overtaken by fear, and we will not allow merchants of violence to rob us of our most precious ideals.  Our values are not secondary considerations in the fight against terror – they are central to the work that we do, and they are essential to the nation that we protect.  They are also the reason that we are a target, and they are what terrorists want most to see us abandon.  They want us to live in fear, and we refuse.  They want us to change who we are, and what makes us quintessentially American, and that we will never do.

    MIL Security OSI

  • MIL-OSI Security: Attorney General Loretta E. Lynch Delivers Keynote Address on Counterterrorism and International Cooperation

    Source: United States Attorneys General 13

    Thank you, Dr. [Robin] Niblett, for that kind introduction; for your leadership here at the Royal Institute of International Affairs; and for your lifetime of dedicated work in the service of international cooperation and global security.  I also want to thank Prime Minister [David] Cameron and the members of Her Majesty’s government for their hospitality during my visit to the United Kingdom.  And I’d like to thank this group of distinguished colleagues, inspiring leaders and devoted public servants for participating in this important conversation.  It’s a privilege to join you here today as we honor the unique bond between our nations; as we reaffirm the cherished values and ideals that we share; and as we rededicate ourselves to building the stronger, safer, and more united world for which we have fought together in the past, and toward which we continue to strive today.

    The United Kingdom and the United States have long been close partners and staunch allies and the connection between us – which Winston Churchill referred to as our “special relationship” – is one with deep roots and a rich history.  Almost all of America’s founders proudly considered themselves Englishmen and many were hesitant to shed that honorable title, even after the start of the American Revolution.  And the revolution itself – though it pitted us against one another in armed conflict – was inspired by the ideals of the British Enlightenment: responsive government, robust rights and liberties, and the fundamental equality of all people.      

    Those ideals have been a source of mutual understanding and shared strength ever since – and while they have been threatened by injustice within our nations and hostility from beyond our shores, they have continued not only to endure, but to expand.  Through the courageous struggles of prominent leaders and humble citizens; of freed slaves and former colonial subjects; of suffragists, ethnic minorities, religious dissenters and gay and lesbian advocates – we have extended the rights of liberty, equality and justice.  Through the tremendous courage and sacrifice of our countrymen –in two World Wars, in battlefields of Korea and today in the skies over Syria and Iraq– we have defended our beliefs against tyranny and oppression.  And together, we have come to the aid of others inspired by the principles that we share.

    Today, the values that have guided and defined us for centuries are facing a persistent threat: the rise of global terrorism and extremism – a scourge that has inflicted its pain on both of our nations in the recent past.  Ten years ago, this great city endured devastating attacks on its public transportation system, and you suffered another attack in the Underground only this week.  In the United States, as you know, we have also suffered terrorist attacks and we are currently investigating last week’s tragic shootings in California as an act of terror.  And as recent events in Paris, Beirut, and Mali remind us, we are far from alone in being targeted by these agents of violence.  These attacks are carried out with a single, repugnant purpose: to harm, frighten and intimidate anyone who believes in open and tolerant societies; in free and democratic governments; and in the right of every human being to live in peace, security and freedom.  As two nations who serve as beacons of those ideals to people around the world, we have a special responsibility to take on this terrorist threat, and to prevent it from causing the destruction it is so desperate to inflict.

    As Attorney General of the United States, my highest priorities are the security of our country and the safety of the American people.  At the Department of Justice, we are working tirelessly to uncover and disrupt plots that take aim not only at the United States, but at nations around the world.  We are acting aggressively to defuse threats as they emerge.  And we are vigorously investigating and prosecuting individuals who seek to harm innocent people.  To stop plots before they can be brought to fruition, we are going after individuals engaged in preparatory activities like fundraising, recruitment, planning and training.  Our approach has yielded important results: since 2013, we have charged more than 70 individuals for conduct related to foreign terrorist fighter interests and homegrown violent extremism and we continue to take action designed to monitor and thwart potential extremist activity. 

    But no nation can fight terrorism alone.  As our world continues to grow more interconnected and interdependent, cooperation and joint action are more essential than ever to combating cross-border threats like terrorism, cybercrime, corruption and human trafficking.  And while modern technology has helped to widen the circle of opportunity for so many citizens around the globe, it has also provided new channels that criminals can exploit for their own ends.  Online, violent ideologies can rapidly proliferate and spread and threats can leap borders and oceans in an instant.  No nation can exist in a bubble of isolation; no country can imagine themselves immune from world events; and the security of each state increasingly depends on the security of all states.  The words of four centuries past ring ever true today, “no man is an island entire of itself.”  In this environment, our strategic understanding and our common humanity demand that we supplement nationwide vigilance with international cooperation.

    That is why the United States is working with organizations like INTERPOL and EUROPOL to share information on foreign fighters.  It’s why we have provided resources, including FBI agents, to support INTERPOL’s Fusion Cell, which investigates the training, financing, methods and motives of terrorist groups around the world.  And it is why we have crafted information-sharing agreements with more than 45 international partners to identify and track suspected terrorists – a partnership that has now provided INTERPOL with approximately 4,000 profiles on foreign terrorist fighters.  From efforts to degrade terrorist capabilities, to building cooperative networks that help to preserve and share information and evidence after an attack, we are demonstrating our deep commitment to collaboration worldwide. 

    Let me give one example of how critical it is that we work together.  Terrorists, like other criminals, count on the difficulties that law enforcement agencies have in sharing information across borders – difficulties that are magnified now that electronic information may be stored in many different countries and may quickly disappear.  But starting some years ago, criminal justice experts from the U.S., the UK, France and the other G7 countries created the 24/7 cyber network – a rapid reaction system that now links approximately 70 countries.  Thanks to that system, after the recent horrific attacks in Paris, French investigators were able to work immediately with the U.S. Department of Justice and with U.S. Internet Service Providers, to preserve data from social media accounts and webpages identified as connected to the attacks, and to seek emergency disclosures to protect lives.  It is this kind of innovative thinking about international information sharing that we need to increase.

    Of course, it is also important to emphasize that our efforts to fight terrorism must always be compatible with safeguarding privacy and civil liberties – exactly as the 24/7 cyber system is designed to be.  Often, in conversations like this one, there is an implicit assumption that our safety must be balanced against our rights and our values; that there is a necessary trade-off between the hopeful optimism of our ideals and the cold reality of our national security.  But the view that we must abdicate our values to maintain our security presents a false choice.  Rather, our security exists to protect our values, because they are the wellspring of all that we are.  Progress within our nations has always been driven by our desire to live up to our ideals – of inclusiveness and opportunity, of equal rights and equal justice – and if we curb those rights in a misguided bid for short-term security, we betray not only our ancestors; not only ourselves; and not only our children – but all those for whom the United States and the United Kingdom represent the possibility of a better, freer future.

    In this regard, I am proud to say that the Obama Administration, with the support of Congress, has made the protection of civil liberties and privacy a priority in the fight against terrorism.  The record is a remarkable one: President Obama has created unprecedented transparency regarding our guidelines for collection and use of signals intelligence, including signals intelligence collected in bulk.  The President nominated and the senate has confirmed, an independent Privacy and Civil Liberties Oversight Board, as envisioned by Congress.  And just last week, independent public advocates were appointed to advise the Foreign Intelligence Surveillance Court, as called for by the USA Freedom Act.  

    Moreover, in all of these efforts, as President Obama has made clear, our goal is to extend privacy protections not only to U.S. citizens, but to foreign nationals as well.  That is why, after years of negotiation, I am very happy to say that we were able to initial in September the U.S./EU “Umbrella” Data Privacy and Protection Agreement regarding law enforcement information.  And it is why – in a truly unprecedented step – the Administration has supported legislation to extend judicial redress rights to foreign nationals for privacy breaches regarding law enforcement information – legislation that, thanks to strong Congressional support, already has passed our House of Representatives, and is now pending in the Senate.  

    These actions are not only unprecedented, but reflective of the United States’ deep commitment to the principles they protect, as well as the importance of our relationship with our European partners in this struggle.  That is why it is particularly disappointing that the European Court of Justice – in a case based on inaccurate and outdated media reports – recently struck down the Safe Harbor Agreement in the Schrems decision.  And it is highly concerning to us that data privacy legislation advancing in the European Parliament might further restrict transatlantic information sharing – a step that not only ignores the critical need for that information sharing to fight terrorism and transnational crime, but also overlooks the enormous steps forward that the Obama Administration and Congress have taken to protect privacy.  It is important that all of us – on both sides of the Atlantic – work to set the record straight regarding our commitment to protect not only the safety of our citizens, but also their civil liberties and privacy.

    But one thing I am confident of in our work on these issues and in the larger fight against terrorism – we will not lose ourselves to fear.  We will respond to this and other threats the way we know best – by reaffirming the very ideals that distinguish us from those who wish us harm: freedom of speech; religious tolerance; the open exchange of ideas; and government that represents the will of its people.  These are the principles of Runnymede and Philadelphia, of the Glorious Revolution and the American Revolution – the principles that we have risen to defend time and again and emerged victorious.  For centuries, these ideals have inspired countless men and women around the world to seek the better life that is the promise of humanity and to demand that the elemental dignity of all mankind be recognized and respected.  And we must keep their promise alive.  

    There is no doubt that we come together at a time of uncertainty, facing dangerous threats and determined adversaries.  But in this moment of global challenge, we remain dedicated to the task that remains before us and to the work that so many have given their last full measure of devotion to fulfill.  Our nations may have been bloodied, but we will remain unbowed – in defense of our citizens, in solidarity with our allies and in allegiance to the values that make us who we are. 

    The road ahead will not always be easy.  We will encounter more times of uncertainty and setbacks.  But as we move forward in the work that will secure our homelands and prove our principles once more, we are fortified with the strength of our time-tested traditions, by the partnership of our longstanding allies and by the legacies of the brave men and women who fought to make our nations everything they are today.  I am confident about the road ahead.  I know that our promise will endure.  And if we can lean on our faith in our enduring values – and hold fast to our unshakeable belief in the cause of justice and the rule of law – then I have no doubt that out of a long and difficult night of challenge, a brighter day will come.

    Thank you.

    MIL Security OSI

  • MIL-OSI Global: Trump’s second tone: authoritarian, radical and triumphalist in a divided US

    Source: The Conversation – France – By Jérôme Viala-Gaudefroy, Spécialiste de la politique américaine, Auteurs historiques The Conversation France

    US President Donald Trump’s inaugural address on January 20 revealed the key themes of his rhetoric–triumphalism and overt authoritarianism–and provided insight into the programme he wants to implement. However, accomplishing his goals will not be easy amid deep divisions within the country that narrowly elected him.

    The triumphant hero: martyr and messiah

    In his 2017 inaugural address, Trump delivered a populist message decrying “the establishment” for the “carnage” afflicting “forgotten Americans”. Eight years later, in the longest inaugural speech in four decades, he painted a starkly different picture–one of a victorious and ambitious country with himself as both its savior and an embodiment of its triumph.

    Trump used the words “I,” “me” and “my” 50 times in his 2025 address, compared to just four in 2017, deliberately merging his personal identity with that of the nation.


    J. Viala-Gaudefroy, Fourni par l’auteur

    He cast himself as both a hero-martyr –“tested and challenged more than any president in our 250-year history”– and the sole leader capable of solving the country’s problems. He linked his personal journey to divine intervention, declaring that God had saved him on July 13, the day he survived an assassination attempt in Pennsylvania, “I was saved by God to make America great again.”

    A radical crackdown on immigration

    Trump’s stance on immigration is significantly more extreme than his 2017 agenda. While his first term focused on reinforcing borders, he now frames illegal immigration as an “invasion” requiring military intervention. On inauguration day, the president signed several executive orders, including one seeking to eliminate birthright citizenship despite its protection under the 14th Amendment. His hardline approach energizes supporters within his conservative base, some of whom subscribe to the “great replacement” theory and view his policies as necessary to preserve American identity.

    Culture wars: race, gender and education

    In his second inaugural address, Trump expanded his rhetoric to encompass culture war issues, aggressively targeting diversity, equity, and inclusion (DEI) policies in US workplaces. He accused the state of “socially engineering race and gender into every aspect of public and private life”, and then began dismantling programmes promoting equality, including recruitment efforts aimed at hiring racial and sexual minorities within the federal government.

    His executive orders rescind measures dating back to the Civil Rights era, including one from president Lyndon B. Johnson mandating equal opportunity policies for federal contractors. Echoing president Ronald Reagan, Trump framed these actions in anti-racist language –“We will forge a society that is colorblind and merit-based”– disregarding the well-documented realities of systemic racism.

    Trump also asserted that “there are only two genders, male and female”, and has signed an order recognizing only biological sex at birth. Framing this move as a defense of women, he argues that their “safe spaces”, including bathrooms and sports competitions, must be protected from individuals who “identify” as female.

    In education, he decried critical perspectives on US history as “unpatriotic”, insisting that schools instill national pride instead of “teaching our children to hate our country”. His plan includes reducing or eliminating federal funding for schools that teach “inappropriate racial, sexual, or political content” or mandate vaccines and mask-wearing–despite education policy largely falling under state jurisdiction.

    Reviving founding myths

    Trump’s historical narrative is steeped in romanticized patriotism. He revived the myth of “the frontier”, a late 19th century ideal portraying westward expansion as the ultimate symbol of American dynamism. This narrative ignores histories of the genocide of indigenous peoples and environmental destruction.

    His vision of “inexhaustible” natural resources –particularly shale oil and gas, described as “liquid gold”– reflects this ideology of relentless economic expansion and 19th century “bonanza economics”. By rejecting US conservationist traditions, Trump is prioritizing industrial growth over environmental sustainability.

    Expansionism reimagined: from the frontier to space

    Trump draws inspiration from president William McKinley (1897–1901), an advocate of expansionism during the Spanish-American War, which brought territories such as the Philippines and Puerto Rico under US control. Reviving the concept of “manifest destiny”, he merged exceptionalism with expansionism, vowing to “plant the American flag on Mars.”

    Trump restated his intention to rename the Gulf of Mexico the “Gulf of America”–a gesture with little practical impact given that much of the gulf lies outside US territory. While he has expressed interest in purchasing Greenland (which he has also claimed to be willing to take over) and even annexing Canada, he mentioned neither in his inaugural speech. However, he did promise to take control of the Panama Canal, justifying the move with a series of lies and exaggerations regarding its history and operation.

    A new golden age or “Gilded Age”?

    Trump’s admiration for McKinley extends to his economic policies. He envisions a protectionist strategy driving national reindustrialization. Yet, McKinley’s era–the “Gilded Age”–was marked by extreme inequality, a lack of income and corporate taxes, minimal regulation and rampant corruption. The wealthiest figures of the time, later dubbed “robber barons”, mirror the oligarchic ambitions of Trump’s current supporters.

    Ironically, as economist Douglas A. Irwin notes, the economic prosperity of the late 19th century was not driven by tariffs but by mass immigration. Between 1870 and 1913, the US population doubled due to an influx of unskilled laborers, a reality at odds with Trump’s strict immigration agenda.

    A nation divided under an assertive authoritarianism

    Trump’s vision, as outlined in his speech, is one of maximal presidential power, where justice is subordinated to political goals. His decision to pardon over 1,500 individuals convicted for their involvement in the January 6, 2021 Capitol riot underscores this authoritarian approach, reinforcing the idea that traditional laws do not apply to his most loyal and even violent supporters.

    He has also launched a sweeping purge of the federal administration, citing “integrity, competence, and loyalty” as guiding values. Additionally, he has openly planned to use the Justice Department and FBI for political purposes.

    Unlike previous presidents, Trump made no effort to unite a deeply divided nation during his address. He ignored the tradition of acknowledging his predecessor, Joe Biden, and instead declared his electoral victory proof that “the entire nation is rallying behind our agenda.”

    However, the US remains fractured politically. Trump secured less than 50% of the popular vote in the November election, his party holds the narrowest House majority since the 1930s, and he entered office with one of the lowest initial approval ratings in 70 years–just 47%. His personal favorability was even lower, hovering around 41% (Reuters, NPR).

    This polarization is evident in the public reaction to his most controversial policies, such as his pardoning of the January 6 rioters just after his inaugural address. While his base celebrates these decisions, the broader American public largely disapproves. The fundamental question remains: can US institutions withstand the growing tensions? Without majority support, realising Trump’s most radical societal and political agenda may prove an uphill battle.

    Jérôme Viala-Gaudefroy ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

    ref. Trump’s second tone: authoritarian, radical and triumphalist in a divided US – https://theconversation.com/trumps-second-tone-authoritarian-radical-and-triumphalist-in-a-divided-us-248502

    MIL OSI – Global Reports

  • MIL-OSI Security: Principal Deputy Associate Attorney General Bill Baer Delivers Remarks Highlighting Elder Justice at the State Of Financial Fraud in America Event

    Source: United States Attorneys General 13

    Remarks as prepared for delivery

    Thank you Robert for that kind introduction and for your leadership and dedication as CEO of Financial Industry Regulatory Authority (FINRA).  And thank you to the Stanford Center on Longevity and the FINRA Investor Education Foundation, for hosting this conference and for the great work that you do.  It is an honor to join with the many people in this audience who dedicate their lives to combatting financial fraud and protecting elderly Americans.  This is a noble and enduring effort.   

    As many people here know, financial fraud targeted at the elderly is a serious problem.  At the beginning of 2011, the first Baby Boomers reached the age of 65.  I reached that milestone myself just last year.  Indeed, 10,000 Americans turn 65 every day, and the percentage of Americas over 65 is growing.  5.8 percent of this group experiences identity theft in a given year.  I had that ugly experience just last month. 13.8 percent experiences consumer fraud in a given year.  4.5 percent of people over 50 experience financial fraud in a five-year period.  While there are varying accounts about how much the overall financial loss is, it is well into the billions of dollars.  

    Statistics aside, we are here together because we know all too well that this is a problem that takes a personal toll.  Almost all of us know someone who has been the victim of financial fraud.  And while it affects people of all ages, it can be especially devastating for elderly people, many of whom are dependent on their savings and are concerned about their own mental decline or other people’s perception of their mental decline.  

    I recently saw letters written by the victims of a set of schemes that we took action against.  One described having sent “hundreds of checks” for a company’s “great offers” and tried to explain to the fraudster that “due to bad eyes, [he] has to use magnifying glasses to read” and had “been caught paying many times for th[e] very same offer.”  Another, believing that the con men would send him a promised gift, tried to explain that he had sent his prior payments by money order and was now enclosing cash, “all [he] can send.”  Another explained that when she gets the vast inheritance she’d been promised, she would use it to help her family, the homeless and needy children.   

    The nature and scope of elder fraud varies tremendously.  At the Department of Justice, we see small, family based schemes, such as caregivers tricking elderly victims out of their savings or abusing powers of attorney.  We see institutional schemes, such as nursing homes that provide unnecessary services or bill for services never provided.  And we see global fraud networks that are—quite literally—organized crime.  These schemes involve networks of businesses with careful divisions of labor.  They target millions of Americans, maintain lists of victims, and, once someone has been duped, target those people again and again. One recent victim wrote a letter explaining: “Each day I keep getting more and more offers and it’s almost impossible for me to keep up with them.” 

    Large and diverse problems like this require broad based solutions.  We at the Department of Justice know we can’t solve this problem alone.  Coordination is essential not only with our federal partners, but with local, state and international authorities.  And public and private partnerships are key to our understanding of the scope of the problem and to the lasting success of any solution.

    Research into basic questions, such as why are elderly people vulnerable, and how can we detect fraud and abuse, is critical to attacking the problem.  The FINRA Foundation and Stanford Center on Longevity launched the Financial Fraud Research Center five years ago.  As some of your ongoing research has demonstrated, there is a natural decline in cognition as people age, especially ability to think fast and process new information.  The elderly are sometimes lonely or otherwise socially isolated. Some are uncomfortable with technology.  Many have pools of relatively liquid retirement assets.  Some are dependent on caregivers.  All of these factors make the elderly particularly susceptible to certain schemes. 

    There is much more to learn.  The Department of Justice has invested in partnerships to help us all better understand the causes and risk factors associated with elder financial exploitation.  For example, just a few weeks ago, we announced an award of nearly $800,000 to the Urban Institute and the University of Southern California to develop and test prevention programs that will address elder abuse, neglect and financial exploitation.  To enhance our understanding of financial exploitation by conservators and guardians, last year our Office for Victims of Crime funded a project to search for innovative, evidence-based programs and practices that successfully detect and remedy conservator fraud.  And people like you are furthering our understanding.  This conference is highlighting emerging research on susceptibility to fraud and fraud prevention.

    Beyond efforts to understand how and why elder fraud occurs, continuing dedication to enforcement is required to stop it.   This is not a partisan issue.  We have seen Democratic and Republican administrations alike express a shared commitment to using all tools in the Department of Justice’s enforcement arsenal.  Back in the 1990s, under Attorney General Reno, the Department of Justice created the Elder Justice Initiative to centralize information, facilitate training, and coordinate within the Department and across the federal government.  During the Bush Administration, the Department of Justice initiated an elder mistreatment research grant program, funding cutting edge research on elder abuse and financial exploitation that continues today.

    During this Administration, Congress created the Elder Justice Coordinating Council as part of the Affordable Care Act to facilitate interagency cooperation at the highest of levels.  At the Department of Justice, we formed the Attorney General’s Advisory Committee’s Elder Justice Working Group, which is comprised of U.S. Attorneys from across the country who are dedicated to improving our information sharing on financial scams targeting the elderly.  And just this year, we created ten regional Elder Justice Task Forces that operate throughout the country, partnering with state and local law enforcement and prosecutors to enhance our collective response to elder financial fraud and abuse. 

    Our Elder Justice Initiative has also been assisting with community capacity building.  This includes supporting the training of local law enforcement and prosecutors.  And to enhance civil legal aid to seniors, in June 2016, the Department of Justice, in collaboration with the Corporation for National and Community Service, launched the Elder Justice AmeriCorps, the first-ever army of lawyers and paralegals to help elderly victims of abuse and exploitation.  The program will support 300 AmeriCorps members throughout the country and is expected to reach over 8,000 older adults over the next two years.

    A multi-faceted problem requires coordination between different federal agencies; it demands a whole of government approach.  Mail is involved; we must coordinate with the Postal Inspection Service.  Money is involved; we must coordinate with the Treasury Department.  People target the elderly; we must coordinate with agencies that serve the elderly, such as the Social Security Administration.  

    And more and more, we are seeing schemes that are highly complex and global.  Stopping these schemes require extensive cooperation—not just with state and local authorities, but also across the federal government and with our international counterparts.  For example, the Department of Justice’s Consumer Protection Branch co-chairs the International Mass-Marketing Fraud Working Group, a network of civil and criminal law enforcement agencies from Australia, Belgium, Canada, Europol, the Netherlands, Nigeria, Norway, Spain, the United Kingdom and the United States.  

    We can point to meaningful progress.  In the past several years, we have successfully shut down several international lottery scams where con men and women have contacted elderly victims in the United States, told the victims they won cash and prizes, and persuaded them to send thousands of dollars in fees to release the money.  Of course, the victims never received cash or prizes in return.  In a series of cases, perpetrators made calls from Jamaica using Voice Over Internet Protocol technology that made it appear as if the calls were coming from the United States.  They convinced victims to send money to middlemen in South Florida and North Carolina, who forwarded the money to Jamaica.  We have had great success breaking up these networks through joint efforts between Jamaican law enforcement and U.S. agencies including the Postal Inspection Service, Department of Homeland Security, U.S. Marshals Service, Federal Trade Commission and Internal Revenue Service.  Since 2009, the Department of Justice has prosecuted or is prosecuting over 100 individuals linked to such lottery schemes, and has convicted and sentenced over 40 defendants.

    We have had similar success going after global “psychic schemes.”  Con men and women send letters purportedly written by “world-renowned psychics” stating that they had a vision revealing that the recipient has the opportunity to obtain great wealth.  The letters appear personalized, refer to the recipient by name, and often contain portions that appear handwritten.  The solicitations urge victims to purchase products and services that will ensure this good fortune.  Investigations by the Department of Justice and Postal Inspection Service, among others, revealed the complexity of these schemes.  Not only were there the fraudsters themselves, but there were separate companies performing different roles, such as processing victim payments and maintaining databases of consumers who responded to solicitations.  In a two-week period, one company in the United States processed as much as $500,000 in payments for just one psychic scheme.  We have discovered similar companies in Quebec, Hong Kong, Switzerland and France.  

    Perhaps the most significant example of cooperation to date were our wide-ranging enforcement actions taken in September of this year to dismantle a global network of mass mailing schemes targeting elderly and vulnerable victims.  The schemes involved a network with components in Canada, France, India, the Netherlands, Singapore, Switzerland, Turkey and the United States.   The network included an India-based printer that manufactured solicitations and arranged for bulk shipment to U.S. victims; a mailer in Switzerland; list brokers in the United States who bought and sold lists of victims so that once victims had fallen prey, others could target them; a “caging” service in the Netherlands that collected money; and a Canadian payment processor that, for more than 20 years, helped dozens of international fraudsters gain access to U.S. banks and take money from Americans.  Stopping this network involved coordination between the Department of Justice, Department of Treasury, Postal Inspection Service, Federal Trade Commission, Iowa Attorney General’s office and counterparts in other countries.  Just to give you a sample of the coordinated actions, on Sept. 22, 2016: 

    • The Treasury Department’s Office of Foreign Assets Control blocked assets from the Canadian payment processor and a network of individuals and entities across 18 countries.
    • The Justice Department filed criminal charges and a civil injunction against a Turkish mass mailer. 
    • The Justice Department brought a series of civil actions to shut down companies based in the United States, India, Switzerland and Singapore.  These companies were responsible for mailing millions of multi-piece solicitations to potential victims throughout the United States.  
    • The Justice Department entered into a consent decree with two Dutch “caging” businesses that collected and forward money.  Our efforts were coordinated with Dutch authorities who executed search warrants on the businesses and took control of the Dutch post office boxes used to receive victims’ funds.   
    • The Federal Trade Commission filed a case against a related mass-mailer, printer, and list broker.  
    • The Iowa Attorney General negotiated a compliance agreement with two firms that brokered victim lists.

    Of course, what matters even more than going after these schemes is preventing people from falling prey in the first place.  Here too, federal agencies are working in cooperation and dedicated to the effort.   The Department of Justice has distributed educational materials about these kinds of scams, the U.S. Postal Inspection Service has developed an electronic press kit for media outlets, my former colleagues at the Federal Trade Commission operate a “Pass It On” campaign that encourages people to share information about frauds that affect older Americans, the Social Security Administration is educating beneficiaries through its network of over 1,200 field offices nationwide, and the Consumer Financial Protection Bureau has produced a mail fraud alert placemat in coordination with Meals on Wheels America to distribute to seniors nationwide.  Similarly, private organizations that work in the area of elder justice and consumer protection are doing their part.  For example, AARP will be posting information through its Fraud Watch Network.  And the Consumers Union, the policy arm of Consumer Reports, is alerting consumers about a variety of elder scams.  

    Going forward, the Department of Justice will continue to work with private, local, state, federal and global partners.   And we urge all of you to tell us where the Department can do more.  The federal government’s work on behalf of the elderly began long before this Administration, and it will continue long after.  I expect that my successors, and my successors’ successors, will share our commitment to making sure our parents, grandparents and friends age with grace and dignity.  And I look forward to all of you, who have worked so hard in this area, working with the next Administration to combat financial fraud and protect elderly Americans.  Thank you again for having me here today.  

    MIL Security OSI

  • MIL-OSI USA: Department of Defense Program Funds Study of Cranial Regeneration

    Source: US State of Connecticut

    Biomedical engineering researchers at UConn Health believe there might be a way to use ultrasound to compel the body to regrow cranial tissue.

    Yusuf Khan, an associate professor of orthopedic surgery, and Dr. David Hersh, associate professor of neurosurgery, have been studying whether some principles of bone development in children could apply to bone healing in adults who’ve had part of their skull removed and replaced.

    A decompressive craniectomy (left) is performed to accommodate intracranial swelling by removing a large portion of the skull. When the swelling resolves, a cranioplasty (right) is performed to replace the missing bone, often with the original bone flap that had been removed during the first surgery. (Images provided by David Hersh)

    They recently were awarded a two-year grant totaling $435,000 through the Congressionally Directed Medical Research Program’s Peer Reviewed Medical Research Program, part of the Department of Defense.

    A decompressive craniectomy, or the removal of a portion of the skull, is a potentially life-saving intervention for when a patient suffers from brain edema, or severe swelling, such as when there has been a traumatic brain injury. The procedure gives the swelling brain more space, relieving pressure and lowering the risk of herniation, which can be fatal.

    Hersh, a pediatric neurosurgeon at Connecticut Children’s who performs craniectomies on select patients with certain conditions, notes that after the follow-up cranioplasty, which is when the portion of skull that had been removed is then reattached, that piece of bone can have problems reintegrating with the remainder of the skull. In some cases, the bone gets resorbed, meaning it instead starts to shrink and get absorbed by the body.

    “You end up being left with big gaps in the bone, which can leave the underlying brain at risk,” Hersh says. “And then the patient needs even more surgeries to provide appropriate coverage, which might involve a synthetic replacement.”

    Dr. David Hersh (left), UConn School of Medicine associate professor of neurosurgery and pediatric neurosurgeon at Connecticut Children’s, speaks with Yusuf Khan, associate program director of the UConn School of Medicine’s Skeletal Biology and Regeneration Graduate Program, in Khan’s lab at UConn Health. (Tina Encarnacion/UConn Health photo)

    Original bone has many biological and other advantages over synthetic materials, such as metals or hard plastics, and trying to eliminate or reduce the need for synthetics is one of the tenets of regenerative engineering.

    In 2019, Hersh started collaborating with Khan, who had been studying therapeutic ultrasound and how it facilitates fracture repair. Hersh had prior experience using therapeutic ultrasound for neurosurgical applications such as for blood brain barrier opening.

    “David came to me with a very specific pediatric problem that he wanted to try to solve,” Khan says. “This grant really grew from the original pediatric application, but, through us working together over the years, we realized the potential for adults, too. And the Congressionally Directed Medical Research Program is an ideal funder for a project like this because of the type of battlefield injuries that soldiers unfortunately experience.”

    The focus is on the dura, the thin layer of tissue that encloses the brain, and whether low-intensity ultrasound can provide a physical force that the cells can sense, possibly stimulating cranial bone regeneration.

    “We think that there’s something unique about those dural cells in that they respond to physical forces, just like bone cells do,” Khan says. “We’ve seen interesting responses by dural cells from young animals that are exposed to ultrasound, and we’re now going to explore whether skeletally mature cells act the same way. We plan to add stem cells to the defect site to study how they communicate with dural cells and whether this can stimulate new bone formation.”

    Hannah Anderson is a 2025 Ph.D. candidate in The Cato T. Laurencin Institute for Regenerative Engineering. Yusuf Khan is her mentor. (Photo by Chris DeFrancesco)

    Khan likens it to how certain fractures actually benefit from weight-bearing during the healing process.

    Hersh says the body already provides an encouraging clue.

    “Our hypothesis is based on what people have learned about normal development –the skull grows in response to the underlying dura releasing signals that then stimulate bone formation,” Hersh says. “We think that happens as a result of the brain itself growing when we’re young and applying mechanical strain to the dura, which then signals to the bone above it. So, our aim is to recreate that natural process to facilitate bone healing in a way that’s similar to the original bone development.”

    While studying this issue may have utility for wounded warriors, its potential applications may extend far beyond that. Examples include patients undergoing a decompressive craniectomy and subsequent cranioplasty for reasons unrelated to combat, including in the setting of civilian traumatic brain injury and certain severe types of stroke.

    “This collaboration on regenerating cranial bone is so important for the future of our wounded warriors,” says Dr. Cato T. Laurencin, the founder and director of the Cato T. Laurencin Institute for Regenerative Engineering. “It is also beneficial to any mature patient with a traumatic brain injury. Congratulations to Dr. Khan and Dr. Hersh for securing funding to continue their life-altering research.”

    The UConn School of Medicine’s Dr. David Hersh (left) and Yusuf Khan are studying how ultrasound may help the body regrow skull bone, funded through a grant from the Congressionally Directed Medical Research Programs. (Tina Encarnacion/UConn Health photo)

    Khan is the associate program director of the UConn School of Medicine’s Skeletal Biology and Regeneration Graduate Program and a member of the Laurencin Institute.

    “This is a great example of the power of academic interdisciplinary medicine, where a talented surgeon brought a clinical problem to an engaged and creative scientist-engineer to work towards the betterment of patient care,” says Dr. Isaac Moss, chair of UConn Health’s Department of Orthopaedic Surgery. “When I connected Drs. Hersh and Khan five years ago, it was clear that these two faculty members would form a great partnership and it’s great to see fruits from this collaboration.”

    Dr. Ketan Bulsara, chair of UConn Health’s Department of Neurosurgery, agrees.

    “The interdepartmental collaboration between Dr. Hersh from neurosurgery and Dr. Khan from orthopedic surgery is just another example of our symbiotic clinical and research excellence that has the potential to transform patient care through our tripartite mission,” Bulsara says. “I congratulate them both on receiving this prestigious grant, and congratulate Dr. Jonathan Martin also for leading our exemplary pediatric neurosurgery team at Connecticut Children’s.”

    Martin, a professor of surgery and pediatrics, directs Connecticut Children’s Division of Neurosurgery and holds its Paul M. Kanev Chair of Pediatric Neurosurgery.

    “We have been privileged to partner with the UConn Health Department of Neurosurgery through the neurosurgery residency program, which has also expanded our access to new clinical and research partners,” Martin says. “The collaboration between Connecticut Children’s and UConn Health has accelerated the ability of exceptional faculty like Dr. Hersh to pursue answers to difficult questions that will benefit patients well beyond Connecticut and Western New England.”

    The grant starts Feb. 1. While the research is in its very early stages, Khan says when the time comes, the work in the lab will be easily translatable.

    “To me, this represents the best version of a clinician-research collaboration, where there is a clinical need looking for a solution, and there is a research solution looking for the ideal clinical application,” he says. “This demonstrates the power of and the need for clinician-scientist collaborations.”

    The work was supported by the Assistant Secretary of Defense for Health Affairs endorsed by the Department of Defense, in the amount of $435,465.00, through the Peer Reviewed Medical Research Program under Award No. HT9425-25-1-0053. Opinions, interpretations, conclusions and recommendations are those of the author and are not necessarily endorsed by the Assistant Secretary of Defense for Health Affairs or the Department of Defense.

    MIL OSI USA News

  • MIL-OSI: Dassault Systèmes: declaration of the number of outstanding shares and voting rights as of January 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    VELIZY-VILLACOUBLAY, FranceFebruary 5, 2025

    Declaration of the number of outstanding shares and
    voting rights as of January 31, 2025

    Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today announced below the total number of its outstanding shares and voting rights as of January 31, 2025, according to articles 223-16 and 221-3 of the General Regulation of the Autorité des marchés financiers.

    Number of outstanding shares: 1,339,708,416

    Number of voting rights*: 2,013,171,040

    *The total number of voting rights is calculated on the basis of the total number of outstanding shares, even if the voting rights attached thereto are suspended, pursuant to Article 223-11 of the General Regulation of the Autorité des marchés financiers relating to the method for calculating the percentages of holdings in shares and in voting rights. We invite our shareholders to refer to this article should they need to declare crossing of thresholds.

    Declarations related to crossing of threshold must be sent to:
    Dassault Systèmes, Investor Relations Service, 10, rue Marcel Dassault, CS 40501, 78946 Vélizy-Villacoublay Cedex (France). E-mail address: Investors@3ds.com  

    ###

    ABOUT DASSAULT SYSTÈMES

    Dassault Systèmes is a catalyst for human progress. Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens. With Dassault Systèmes’ 3DEXPERIENCE platform, 350 000 customers of all sizes, in all industries, can collaborate, imagine and create sustainable innovations that drive meaningful impact. For more information, visit www.3ds.com.

    Dassault Systèmes Investor Relations Team                FTI Consulting
    Béatrix Martinez :                                        Arnaud de Cheffontaines: +33 1 47 03 69 48
    +33 1 61 62 40 73                                        Jamie Ricketts : +44 20 3727 1600
    investors@3ds.com                                        

    Dassault Systèmes Press Contacts
    Corporate / France        
    Arnaud Malherbe: +33 1 61 62 87 73
    arnaud.malherbe@3ds.com        

    © Dassault Systèmes. All rights reserved. 3DEXPERIENCE, the 3DS logo, the Compass icon, IFWE, 3DEXCITE, 3DVIA, BIOVIA, CATIA, CENTRIC PLM, DELMIA, ENOVIA, GEOVIA, MEDIDATA, NETVIBES, OUTSCALE, SIMULIA and SOLIDWORKS are commercial trademarks or registered trademarks of Dassault Systèmes, a European company (Societas Europaea) incorporated under French law, and registered with the Versailles trade and companies registry under number 322 306 440, or its subsidiaries in the United States and/or other countries. All other trademarks are owned by their respective owners. Use of any Dassault Systèmes or its subsidiaries trademarks is subject to their express written approval

    Attachment

    The MIL Network

  • MIL-OSI USA: U.S. International Trade in Goods and Services, December and Annual 2024

    Source: US Bureau of Economic Analysis

    The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $98.4 billion in December, up $19.5 billion from $78.9 billion in November, revised.

    U.S. International Trade in Goods and Services Deficit
    Deficit: $98.4 Billion  +24.7%°
    Exports: $266.5 Billion  –2.6%°
    Imports: $364.9 Billion  +3.5%°

    Next release: Thursday, March 6, 2025

    (°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes

    Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, February 5, 2025

    Exports, Imports, and Balance (exhibit 1)

    December exports were $266.5 billion, $7.1 billion less than November exports. December imports were $364.9 billion, $12.4 billion more than November imports.

    The December increase in the goods and services deficit reflected an increase in the goods deficit of $18.9 billion to $123.0 billion and a decrease in the services surplus of $0.6 billion to $24.5 billion.

    For 2024, the goods and services deficit increased $133.5 billion, or 17.0 percent, from 2023. Exports increased $119.8 billion or 3.9 percent. Imports increased $253.3 billion or 6.6 percent.

    Three-Month Moving Averages (exhibit 2)

    The average goods and services deficit increased $4.7 billion to $83.8 billion for the three months ending in December.

    • Average exports decreased $1.2 billion to $268.8 billion in December.
    • Average imports increased $3.5 billion to $352.7 billion in December.

    Year-over-year, the average goods and services deficit increased $19.2 billion from the three months ending in December 2023.

    • Average exports increased $9.8 billion from December 2023.
    • Average imports increased $29.0 billion from December 2023.

    Exports (exhibits 3, 6, and 7)

    Exports of goods decreased $7.5 billion to $170.2 billion in December.

      Exports of goods on a Census basis decreased $6.7 billion.

    • Consumer goods decreased $1.8 billion.
      • Pharmaceutical preparations decreased $1.4 billion.
    • Industrial supplies and materials decreased $1.8 billion.
      • Crude oil decreased $0.9 billion.
      • Other petroleum products decreased $0.3 billion.
      • Other precious metals decreased $0.3 billion.
      • Fertilizers, pesticides, and insecticides decreased $0.3 billion.
    • Capital goods decreased $1.4 billion.
      • Computers decreased $0.9 billion.
      • Civilian aircraft increased $1.4 billion.
    • Automotive vehicles, parts, and engines decreased $0.9 billion.
      • Trucks, buses, and special purpose vehicles decreased $0.4 billion.
      • Other automotive parts and accessories decreased $0.3 billion.

      Net balance of payments adjustments decreased $0.8 billion.

    Exports of services increased $0.4 billion to $96.3 billion in December.

    • Travel increased $0.3 billion.
    • Financial services increased $0.1 billion.

    Imports (exhibits 4, 6, and 8)

    Imports of goods increased $11.4 billion to $293.1 billion in December.

      Imports of goods on a Census basis increased $11.3 billion.

    • Industrial supplies and materials increased $10.8 billion.
      • Finished metal shapes increased $9.2 billion.
      • Nonmonetary gold increased $1.0 billion.
    • Consumer goods increased $2.2 billion.
      • Toys, games, and sporting goods increased $0.8 billion.
      • Cell phones and other household goods increased $0.8 billion.
    • Capital goods increased $1.3 billion.
      • Computers increased $1.2 billion.
      • Computer accessories increased $0.9 billion.
      • Civilian aircraft decreased $1.1 billion.
    • Automotive vehicles, parts, and engines decreased $2.2 billion.
      • Passenger cars decreased $1.6 billion.

      Net balance of payments adjustments increased $0.1 billion.

    Imports of services increased $1.0 billion to $71.8 billion in December.

    • Transport increased $0.5 billion.
    • Travel increased $0.3 billion.

    Real Goods in 2017 Dollars – Census Basis (exhibit 11)

    The real goods deficit increased $14.9 billion, or 15.4 percent, to $111.9 billion in December, compared to a 17.3 percent increase in the nominal deficit.

    • Real exports of goods decreased $5.4 billion, or 3.7 percent, to $141.9 billion, compared to a 3.8 percent decrease in nominal exports.
    • Real imports of goods increased $9.5 billion, or 3.9 percent, to $253.8 billion, compared to a 4.0 percent increase in nominal imports.

    Revisions

    In addition to revisions to source data for the November statistics, the seasonally adjusted goods data were revised for January through November so that the totals of the seasonally adjusted months equal the annual totals.

    Revisions to November exports

    • Exports of goods were revised up $0.1 billion.
    • Exports of services were revised up $0.1 billion.

    Revisions to November imports

    • Imports of goods were revised up $0.8 billion.
    • Imports of services were revised up $0.1 billion.

    Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19)

    The December figures show surpluses, in billions of dollars, with Netherlands ($5.0), South and Central America ($3.5), United Kingdom ($2.3), Hong Kong ($0.7), Brazil ($0.4), Saudi Arabia ($0.4), Belgium ($0.3), and Australia ($0.2). Deficits were recorded, in billions of dollars, with China ($25.3), European Union ($20.4), Mexico ($15.2), Switzerland ($13.0), Vietnam ($11.4), Canada ($7.9), Germany ($7.6), Taiwan ($6.9), Ireland ($6.2), South Korea ($5.6), Japan ($5.5), India ($4.9), Italy ($4.1), Malaysia ($2.5), France ($1.1), Israel ($0.8), and Singapore ($0.4).

    • The deficit with Switzerland increased $9.1 billion to $13.0 billion in December. Exports decreased $0.7 billion to $1.2 billion and imports increased $8.4 billion to $14.2 billion.
    • The deficit with Canada increased $2.9 billion to $7.9 billion in December. Exports decreased $0.4 billion to $29.1 billion and imports increased $2.5 billion to $37.0 billion.
    • The deficit with Ireland decreased $3.1 billion to $6.2 billion in December. Exports decreased $0.1 billion to $1.2 billion and imports decreased $3.2 billion to $7.5 billion.

    Annual Summary for 2024

    Exports, Imports, and Balance (exhibit 1)

    For 2024, the goods and services deficit was $918.4 billion, up $133.5 billion from $784.9 billion in 2023. Exports were $3,191.6 billion, up $119.8 billion from 2023. Imports were $4,110.0 billion, up $253.3 billion from 2023.

    The 2024 increase in the goods and services deficit reflected an increase in the goods deficit of $148.5 billion, or 14.0 percent, to $1,211.7 billion and an increase in the services surplus of $14.9 billion, or 5.4 percent, to $293.3 billion.

    The goods and services deficit was 3.1 percent of current-dollar gross domestic product in 2024, up from 2.8 percent in 2023.

    Exports (exhibits 3, 6, and 7)

    Exports of goods increased $38.6 billion to $2,083.8 billion in 2024.

      Exports of goods on a Census basis increased $47.1 billion.

    • Capital goods increased $40.2 billion.
      • Computer accessories increased $11.3 billion.
      • Civilian aircraft engines increased $8.7 billion.
      • Computers increased $8.2 billion.
      • Semiconductors increased $8.1 billion.
    • Other goods increased $17.9 billion. (See the “Notice” for more information.)
    • Automotive vehicles, parts, and engines decreased $10.8 billion.
      • Other automotive parts and accessories decreased $4.3 billion.
      • Passenger cars decreased $4.0 billion.
      • Trucks, buses, and special purpose vehicles decreased $3.0 billion.

      Net balance of payments adjustments decreased $8.5 billion.

    Exports of services increased $81.2 billion to $1,107.8 billion in 2024.

    • Travel increased $26.3 billion.
    • Other business services increased $16.0 billion.
    • Telecommunications, computer, and information services increased $11.9 billion.
    • Financial services increased $11.6 billion.

    Imports (exhibits 4, 6, and 8)

    Imports of goods increased $187.1 billion to $3,295.6 billion in 2024.

      Imports of goods on a Census basis increased $187.2 billion.

    • Capital goods increased $103.3 billion.
      • Computer accessories increased $33.5 billion.
      • Computers increased $28.3 billion.
      • Semiconductors increased $9.4 billion.
      • Other industrial machinery increased $9.0 billion.
    • Consumer goods increased $48.4 billion.
      • Pharmaceutical preparations increased $43.6 billion.
    • Automotive vehicles, parts, and engines increased $16.1 billion.
      • Passenger cars increased $10.0 billion.
      • Other automotive parts and accessories increased $4.8 billion.
    • Foods, feeds, and beverages increased $15.9 billion.
      • Meat products increased $3.5 billion.
      • Fruits, frozen juices increased $2.3 billion.
      • Bakery products increased $2.2 billion.
      • Other foods increased $2.0 billion.
      • Vegetables increased $1.7 billion.

      Net balance of payments adjustments decreased $0.2 billion.

    Imports of services increased $66.2 billion to $814.4 billion in 2024.

    • Travel increased $19.2 billion.
    • Charges for the use of intellectual property increased $12.2 billion.
    • Transport increased $11.7 billion.
    • Insurance services increased $11.5 billion.

    Real Goods in 2017 Dollars – Census Basis (exhibit 11)

    The real goods deficit increased $98.8 billion, or 9.6 percent, to $1,132.4 billion in 2024, compared to a 13.2 percent increase in the nominal deficit.

    • Real exports of goods increased $41.7 billion, or 2.5 percent, to $1,737.8 billion, compared to a 2.3 percent increase in nominal exports.
    • Real imports of goods increased $140.5 billion, or 5.1 percent, to $2,870.2 billion, compared to a 6.1 percent increase in nominal imports.

    Goods by Selected Countries and Areas – Census Basis (exhibits 14 and 14a)

    The 2024 figures show surpluses, in billions of dollars, with Netherlands ($55.5), South and Central America ($47.3), Hong Kong ($21.9), Australia ($17.9), and United Kingdom ($11.9). Deficits were recorded, in billions of dollars, with China ($295.4), European Union ($235.6), Mexico ($171.8), Vietnam ($123.5), Ireland ($86.7), Germany ($84.8), Taiwan ($73.9), Japan ($68.5), South Korea ($66.0), Canada ($63.3), India ($45.7), Thailand ($45.6), Italy ($44.0), Switzerland ($38.5), Malaysia ($24.8), Indonesia ($17.9), France ($16.4), Austria ($13.1), and Sweden ($9.8).

    • The deficit with the European Union increased $26.9 billion to $235.6 billion in 2024. Exports increased $2.6 billion to $370.2 billion and imports increased $29.4 billion to $605.8 billion.
    • The deficit with Taiwan increased $26.1 billion to $73.9 billion in 2024. Exports increased $2.4 billion to $42.3 billion and imports increased $28.5 billion to $116.3 billion.
    • The surplus with the Netherlands increased $12.7 billion to $55.5 billion in 2024. Exports increased $8.3 billion to $89.6 billion and imports decreased $4.4 billion to $34.1 billion.

    All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in exhibits 1-20b of this release. For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. The full schedule is available in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA’s website at www.bea.gov/news/schedule.

    Next release: March 6, 2025, at 8:30 a.m EST
    U.S. International Trade in Goods and Services, January 2025

    Notice

    Impact of Canada Border Services Agency’s (CBSA) Release of CBSA Assessment and Revenue Management (CARM)

    The CBSA introduced a new accounting system (CARM) on October 21, 2024. As a result, importers in Canada have experienced delays in filing shipment information. These delays affected the compilation of statistics on U.S. exports of goods to Canada for September through December 2024, which are derived from data compiled by Canada through the United States – Canada Data Exchange. A dollar estimate of the filing backlog is included in estimates for late receipts and, following the Census Bureau’s customary practice for late receipt estimates, is included in the export end-use category “Other goods” as well as in exports to Canada. This estimate will be replaced with the actual transactions reported by the Harmonized System classification in June 2025 with the release of “U.S. International Trade in Goods and Services, Annual Revision.” Until then, please refer to the supplemental spreadsheet “CARM Exports to Canada Corrections,” which provides a breakdown of the late receipts by 1-digit end-use category. This spreadsheet will be updated as late export transactions are received to reflect reassignments from the initial “Other goods” category to the appropriate 1-digit end-use category.

    If you have questions or need additional information, please contact the Census Bureau, Economic Indicators Division, International Trade Macro Analysis Branch, on 800-549-0595, option 4, or at eid.international.trade.data@census.gov or BEA, Balance of Payments Division, at InternationalAccounts@bea.gov.

    Upcoming Changes to the Real (Chained-Dollar) Series

    Effective with the release of the February 2025 statistics on April 3, 2025, the Census Bureau will continue to use the Bureau of Labor Statistics (BLS) U.S. Import and Export Price Indexes to calculate the chained-dollar series (exhibits 10 and 11). The BLS will be implementing changes to the indexes with the release of the February 2025 U.S. Import and Export Price Indexes on March 18, 2025. The changes to the indexes could impact the chained-dollar values. Please refer to the BLS notice for additional information on the Upcoming Change to Data Source for Import and Export Price Indexes: U.S. Bureau of Labor Statistics.

    If you have any questions or need additional information, please contact the Census Bureau, Economic Statistical Methods Division, International Trade Statistical Methods Branch, on 301-763-3080.

    MIL OSI USA News

  • MIL-OSI Global: Ukraine: prospects for peace are slim unless Europe grips the reality of Trump’s world

    Source: The Conversation – UK – By Stefan Wolff, Professor of International Security, University of Birmingham

    When EU leaders gathered for their first ever meeting solely dedicated to defence issues on February 3, in Brussels, the war in Ukraine was uppermost on their minds. Yet, three weeks before the third anniversary of Russia’s full-scale invasion, Ukraine is only the tip of an iceberg of security challenges that Europe faces.

    War on a scale not seen in Europe since 1945 has returned to the continent. Russian sabotage of everything from critical infrastructure to elections is at levels reminiscent of the cold war. And the future of the EU’s most important defence alliance, Nato, is uncertain.

    In light of these challenges alone, let alone the ongoing instability in the Middle East, western Balkans and south Caucasus, it’s hard to disagree with the observation by EU council president António Costa that: “Europe needs to assume greater responsibility for its own defence.”

    But it’s hardly a groundbreaking statement. And at the end of proceedings, the outcome of what was ultimately only an informal meeting, was underwhelmingly summarised by Costa as “progress in our discussions on building the Europe of defence”.

    This does not bode well for Ukraine. US support is unlikely to continue at the levels reached during the final months of the Biden administration. In fact, ongoing debates in the White House on Ukraine policy have already caused some disruption to arms shipments from Washington to Kyiv.

    Building blocs

    If there is a silver lining for Ukraine here, it is Trump’s continuous search for a good deal. His latest idea is that Ukraine could pay for US support with favourable concessions on rare earths, and potentially other strategic resources.

    These would include preferential deals to supply the US with titanium, iron ore and coal, as well as critical minerals, including lithium. Whether this is a sustainable basis for US support in the long term is as unclear as whether it will make any material difference to Trump thinking beyond a ceasefire.

    The other ray of hope for Ukraine is that there is a much greater recognition in EU capitals now about the need for a common European approach to defence. A greater focus on building a “coalition of the willing” including non-EU members UK and Norway is a potentially promising path.

    But hope, as they say, is not a winning strategy. In a Trump-like transactional fashion, Brussels – in exchange for a deal on defence with London – is insisting on UK concessions on youth mobility and fishing rights. It’s unlikely that this will prove an insurmountable stumbling bloc, but it will create yet more delays at a moment when time is of the essence for Europe as a whole to signal determination about security and defence.

    This is further complicated by two factors. On the one hand, there is the looming threat of a trade war between the US and the EU. That the UK may still be able to avoid a similar fate, according to Trump, feels like good news for London. But it will also put the UK in a potentially awkward position as it seeks an ambitious post-Brexit reset with the EU and harbours hopes to improve relations with China.

    With Trump clearly hostile towards both Brussels and Beijing, this may become an impossible balancing act for the British government to pull off.

    Europe’s fragile unity

    On the other hand, EU unity has become more fragile. Trump’s victory has emboldened other populist leaders in Europe – notably the significantly more pro-Russian Slovak and Hungarian prime ministers, Robert Fico and Viktor Orbán. The same applies to the UK, where Nigel Farage, leader of the Reform UK party – which has overtaken the ruling Labour party in the latest public opinion polls – is known for his Ukraine-sceptical views.

    To that equation add a weak government in France and the likelihood of protracted coalition negotiations in Germany after hotly contested parliamentary elections at the end of February. The prospects for decisive EU and wider European action on strengthening its own security and defence capabilities right now appear vanishingly slim.

    Seen in the light of such multiple and complex challenges, it is astonishing how much the EU is still trapped in a wishful thinking exercise – and one that appears more and more disconnected from reality. Contrary to Costa’s fulsome pronouncements after the EU leaders’ meeting, there is little evidence that the US under Trump will remain Europe’s friend, ally and partner.

    There’s also little to suggest that the American president shares the values and principles that once underpinned the now rapidly dismantling international order. Other countries’ national sovereignty, territorial integrity and the inviolability of their borders are not at the forefront of Trump’s foreign policy doctrine.

    If, as Costa proclaimed, “peace in Europe depends on Ukraine winning a comprehensive, just and lasting peace”, then the future looks bleak indeed for Europe and Ukraine. At this point the EU and its member states are a long way off from being able to provide Ukraine with the support it needs to win. This is not just because they lack the military and defence-industrial capabilities. They also lack a credible, shared vision of how to acquire them while navigating a Trumpian world.

    Stefan Wolff is a past recipient of grant funding from the Natural Environment Research Council of the UK, the United States Institute of Peace, the Economic and Social Research Council of the UK, the British Academy, the NATO Science for Peace Programme, the EU Framework Programmes 6 and 7 and Horizon 2020, as well as the EU’s Jean Monnet Programme. He is a Trustee and Honorary Treasurer of the Political Studies Association of the UK and a Senior Research Fellow at the Foreign Policy Centre in London.

    ref. Ukraine: prospects for peace are slim unless Europe grips the reality of Trump’s world – https://theconversation.com/ukraine-prospects-for-peace-are-slim-unless-europe-grips-the-reality-of-trumps-world-248911

    MIL OSI – Global Reports