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Category: Germany

  • MIL-OSI: InspireSemi Announces Administrative Update Webinar for Shareholders

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia and AUSTIN, Texas, Jan. 29, 2025 (GLOBE NEWSWIRE) — Inspire Semiconductor Holdings Inc. (“InspireSemi” or the “Company”), a chip design company that provides revolutionary high-performance, energy-efficient accelerated computing solutions for High Performance Computing (HPC), AI, graph analytics, and other compute-intensive workloads, is pleased to announce that it will provide an administrative update by live webinar on February 5, 2025, at 1:00 p.m. Eastern Time.

    This will primarily be an open forum for shareholders to clarify any remaining questions regarding the previously announced voluntary delisting from the TSX Venture Exchange, which was completed on December 31, 2024. A more general business update will also be scheduled shortly.

    You can also view a related list Frequently Asked Questions and Answers on the company website at: FAQ document.

    To join the live webinar please use the following Zoom information:

    Join from PC, Mac, iPad, or Android:
    https://us06web.zoom.us/j/86160306729?pwd=TfhZhAA4v2YvdbsbIhJws8cQD3fcj5.1

    Webinar ID: 861 6030 6729
    Passcode: 060367

    Phone one-tap:
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    Join via audio:
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    +49 69 5050 0952 Germany
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    International numbers available: https://us06web.zoom.us/u/kf1d3JWW8

    About InspireSemi

    InspireSemi provides revolutionary high-performance, energy-efficient accelerated computing solutions for High-Performance Computing (HPC), AI, graph analytics, and other compute-intensive workloads. The Thunderbird I ‘supercomputer-cluster-on-a-chip’ is a disruptive, next-generation datacenter accelerator designed to address multiple underserved and diversified industries, including financial services, computer-aided engineering, energy, climate modeling, cybersecurity, and life sciences & drug discovery. Based on the open standard RISC-V instruction set architecture, InspireSemi’s solutions set new standards of performance, energy efficiency, and ease of programming. InspireSemi is headquartered in Austin, TX.

    For more information visit https://inspiresemi.com
    Follow InspireSemi on LinkedIn

    Company Contact
    Jack Cartwright, CFO (Interim)
    (737) 471-3230
    invest@inspiresemi.com

    Cautionary Statement on Forward-Looking Information

    This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Statements concerning InspireSemi’s objectives, goals, strategies, priorities, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition of InspireSemi are forward-looking statements. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass.

    Forward-looking information includes, but is not limited to, information regarding the Delisting and any future listing. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this presentation, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of InspireSemi, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company including information obtained from third-party industry analysts and other third-party sources and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement.

    Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects management’s current beliefs and is based on information currently available to them and on assumptions they believe to be not unreasonable in light of all of the circumstances. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

    Should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

    The MIL Network –

  • MIL-OSI Europe: Germany: INERATEC’s e-fuel demo plant in Frankfurt gets €70 million from EIB, EU-Commission and Breakthrough energy

    Source: European Investment Bank

    • The Capital injection will finance development of Europe’s first large-scale e-Fuel plant in Frankfurt and further research and development of INERATEC`s e-Fuels.
    • INERATEC`s e-fuels will support compliance with EU regulation requirements to add synthetic aviation fuel to kerosene to decarbonize aviation
    • Financing includes a €30million grant by Breakthrough Energy Catalyst, their first in Germany, underpinning the maturity of INERATEC’S technology 

    The European Investment Bank (EIB) and Breakthrough Energy Catalyst are providing a €70 million funding package through the EU-Catalyst Partnership to INERATEC, a Germany based e-fuel company. The EIB is providing a €40 million venture-debt-loan, backed by the EU`s InvestEU-program, while Breakthrough Energy Catalyst is awarding a grant of €30 million. The package will support the financing of INERATEC’s carbon neutral e-fuel production plant in Frankfurt, as well as further research and development. The Frankfurt plant is set to be Europe`s largest when opening in 2025.

    Long term market growth expected for e-SAF and e-Fuels

    E-fuel production uses CO2 and hydrogen to produce synthetic fuels and chemicals that are carbon neutral or close to carbon neutral when used. They have significant potential in hard-to-decarbonize sectors such as aviation, where commercial demand is underpinned by clear regulation. Therefore, long-term market growth can be expected.

    The EU’s ReFuelEU Aviation regulation requires that aviation fuel suppliers provide jet-fuel with 1.2 per cent minimum synthetic fuel content by 2030, rising to 35 per cent in 2050. Based in Karlsruhe, Germany, INERATEC is well placed for this growing market, offering an efficient, scalable modular design.

    INERATEC’S Frankfurt plant will produce up to 2,500 tons of e-fuels and e-chemicals, including e-sustainable aviation fuel (e-SAF). The plant will also incorporate an upgrading facility, enabling the e-crude oil to be refined into certifiable, ready-to-use sustainable aviation fuel on site. The fuel will support compliance with the EU’s synthetic aviation fuel mandate.

    INERATEC’s Frankfurt plant to show e-Fuel production is possible at scale

    EIB-Vice-President Nicola Beer said: “E-fuels are a crucial part of achieving a competitive net-zero economy, particularly in the mobility and transport sector. Game-changing technologies like Ineratec’s play a vital role in this transition. Together with the European Commission and Breakthrough Energy, through the EIB’s venture debt product, we are supporting an innovative startup in scaling up production and advancing research to make e-fuels a viable, sustainable alternative to fossil fuels.”

    INERATEC CEO Tim Boeltken said: “INERATEC’S Frankfurt production plant will show that e-fuel production is no longer a technological concept but a scalable reality. Reliable production of certifiable e-SAF is possible in the near-term – at commercial scale, that will be a breakthrough for sustainable aviation. This investment from EIB and Breakthrough Energy Catalyst is a sign of confidence in the INERATEC technology and approach.”

    Mario Fernandez, Head of Breakthrough Energy Catalyst, adds: “We are delighted to be working with INERATEC. This ground-breaking project will bring us a decisive step closer to the decarbonisation of aviation.”

    The financing reinforces EIB position as the ‘The Climate Bank’, a priority in the EIB Group’s 2024-2027 Strategic Roadmap, and supports the objectives of the European Commission’s RefuelEU aviation regulations.

    Background information

    EIB

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

    The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

    EIB venture debt is a quasi-equity investment product suitable for early and growth stage ventures, combining a long-term loan with an instrument linking the return to the performance of the company. Since 2015, the EIB has invested €6 billion in Venture Debt, backing over 200 companies and realising over 50 exits. With the backing of InvestEU, the EIB aims to support European ventures and scale-ups in the cleantech, deep-tech and life sciences sectors.

    INERATEC is committed to defossilizing and decarbonizing the world. The company produces e-Fuels and e-chemicals: carbon-neutral fossil fuel substitutes for use in the aviation, shipping and chemical industries. Its modular, scalable plants use renewable hydrogen and biogenic CO2 to produce synthetic kerosene, gasoline, diesel, waxes, methanol or natural gas. It is building what will be the world’s largest e-fuels plant to date, in Frankfurt, which will produce up to 2,500 tonnes of ultra-low-carbon aviation fuel per year. The company is based in Karlsruhe, Germany and backed by diverse international investors. www.ineratec.com

    Breakthrough Energy is committed to accelerating the world’s journey to a clean energy future. The organization funds breakthrough technologies, advocates for climate-smart policies, and mobilizes partners around the world to take effective action, accelerating progress at every stage.

    Breakthrough Energy Catalyst is a novel platform that funds and invests in first-of-a-kind commercial projects for emerging climate technologies. By investing in these opportunities, Catalyst seeks to accelerate the adoption of these technologies worldwide and reduce their costs.

    Catalyst currently focuses on five technology areas: clean hydrogen, sustainable aviation fuel, direct air capture, long-duration energy storage, and manufacturing decarbonization. In addition to capital, Catalyst leverages the team’s energy-infrastructure-investing and project-development expertise to work with innovators on advancing their projects from the development stage to funding and ultimately, to construction. Learn more about Breakthrough Energy and Catalyst at breakthroughenergy.org.

    MIL OSI Europe News –

  • MIL-OSI Europe: Debates – Wednesday, 29 January 2025 – Brussels – Revised edition

    Source: European Parliament

     

      Corrie Hermann. – Dear President of the European Parliament, dear Roberta Metsola, dear Presidents, dear Members, Commissioners, excellencies, distinguished guests, this story about one Holocaust victim is dedicated to every one of the 6 million victims whom we deplore today.

    My father, Hermann Pál, was born on 27 March 1902 in Budapest, in a well-to-do family. At the time, Budapest was still the second capital of the Habsburg Empire – the era which Stefan Zweig depicts in Die Welt von Gestern. The Jewish citizenry had become gradually an integral part of the community, and joined intensively in the professional, cultural and financial life.

    Hermann Pál was intelligent and musical, and was admitted, at the age of 15, as a cello student at the famous Franz Liszt Academy, established in 1875 – the cradle of many generations of top musicians from Hungary. His best friend became the violinist Székely Zoltán, who would become a worldwide-known soloist and the first violinist of the New Hungarian String Quartet. Pál developed not only as a cellist but also as a composer. His teachers were Kodály and Bartók.

    Even before the formal completion of his training, he reaped his first success in a private concert at the house of Arnold Schönberg with the ‘Sonata for Cello Solo’, which Kodály had composed a few years earlier. A performance of this sonata at a concert in Switzerland, which was organised by the International Society of Contemporary Music, was the first step in his international career.

    But in the meantime, the First World War had raged in Europe. The Habsburg Empire was no more. Hungary’s wings had been clipped by the Trianon Treaty, and the new leader, Admiral Horthy, was the first one to introduce antisemitic laws. The young cellist went to Berlin and changed his name from the Hungarian Hermann Pál to Paul Hermann.

    In Berlin, musical life was blooming. Paul took lessons at the Staatliche Academische Hochschule für Musik. To earn a living, he became a teacher at the progressive Volksmusikschule Berlin-Neukölln and he played in all kinds of ensembles: Baroque music, the great classics – Haydn, Mozart, Beethoven – and contemporary compositions by Hindemith, Ernst Toch and, of course, Kodály and Bartók.

    The tie with Zoltán Székely was to endure all his life. Zoltán had settled in the Netherlands. Together they gave concerts which were favourably reviewed in the Netherlands, Germany and England. In London they stayed often at the house of a Dutch couple, Jacob de Graaff and Louise Bachiene. De Graaff was a wealthy businessman. He and his wife were lovers of art and music, and liked to entertain young artists. They admired the two musicians so much that in 1927 they bought a Stradivarius violin for Zoltán and, in 1928, a Gagliano cello for Paul. That cello has a leading part in this story.

    Louise de Graaff corresponded frequently with relations in the Netherlands, and when Paul Hermann was scheduled to play in Amsterdam, she urged her young niece, Ada Weevers, to go to the concert and meet the artist. This meeting was such a success that they became engaged and married in 1931. They settled in an apartment in a new Berlin quarter, Charlottenburg. I was born in 1932 and there are pictures of my father holding me on the balcony.

    But in 1933 came bad luck. On 30 January, Hitler became Reichskanzler in Germany and a threatening atmosphere for Jewish people becomes immediately acute. Jews are fired from public functions. Paul Hermann loses his job. The little family seeks refuge with Ada’s parents in the Netherlands. In the summer holiday, they stay near the seaside and, when swimming, Ada gets caught in a vortex in the waves and nearly drowns. She inhales water, it leads to pneumonia and she dies a few months later.

    Paul Hermann joins Hungarian colleagues in Brussels. Together they perform as the Gertler Quartet. They tour Belgium, France, Switzerland, Italy, Hungary. He has left me with my maternal grandparents; a younger sister of my mother takes loving care of me. Every time my father visits is delightful. The whole family adores him.

    After a few years in Brussels, Paul Hermann moves to Paris and continues his international career. On 4 August 1939, I turned seven. I remember him coming, always with his cello. Only recently, I found a letter my father wrote to a friend telling me about all the difficulties he had to get permission from the French authorities to cross the border to Holland. Foreign Jews are already under suspicion.

    But I only know it’s my birthday, a party. As a present, my father gives me the new French book, ‘Histoire de Babar, le petit éléphant‘, and he teaches me my first French words: ‘Babar entre dans l’ascenseur, il monte dix fois en haut et descend dix fois en bas mais le garçon lui dit “ce n’est pas un joujou, monsieur l’éléphant”‘.

    But again, the atmosphere is threatening. War breaks out at the end of August. Borders are closing. All foreign visitors return hastily. That winter, Western Europe is mobilised, but the fighting is in the east. We can still correspond. But in the spring, Hitler looks toward France. The French army is preparing the defence. Paul Hermann joins a régiment de marche de volontaires étrangers to assist the French army. In June, the Germans are in Paris. Northern France, Belgium and the Netherlands are occupied and under German rule. As a schoolchild, I remember the little boards everywhere: ‘Verboden voor Joden‘.

    In France, the southern region is at first not occupied. People feel relatively safe there. Hermann and his cello stay first with the de Graaff couple, who have moved from London to the region south of Bordeaux, but then he moves to a room in Toulouse. He has some pupils and can give a few recitals. Censorship makes corresponding very difficult. We get only very few letters.

    Sometimes he can visit Ada’s brother, Jan Weevers, who has an agricultural business in a village about 150 km from Toulouse. This brother-in-law supports him as much as he can. But in 1942, all France is occupied. The terror of the Gestapo reigns also in Toulouse. In Budapest, Berlin, Paris, Paul Hermann has been able to flee from antisemitism. Now this is not possible anymore. He takes false papers, names himself de Cotigny and hopes for the best.

    But on 21 April 1944, he is arrested in a street raid, taken to the Toulouse prison and transported to Drancy, the assembling camp near Paris, from where the transports for the concentration camps departed.

    In May 1944, he is put in a wagon with 60 other men as a part of transport number 73 from Drancy. While the train is waiting at the station, he manages to write a note to his brother-in-law and throws it out of the train. A kind passenger, who probably realises this could be a last message, posts it. Miraculously, it reaches Jan Weevers. It reads:

    «On nous a dit que nous allions travailler à l’Organisation Todt. Nous sommes pleins d’espoir malgré tout. Quant à mes instruments, je te prie de sauver ce que tu peux.»

    There is hardly any transportation, but Jan Weevers manages to go to Toulouse, where Paul’s rooms have been sealed by the Gestapo. Spoils of war. He forces a window and exchanges the precious Gagliano cello for a cheap student’s instrument. He takes it home. Paul’s cello is saved.

    Transport 73 is not put to work for the organisation Todt. It is sent all through Europe to Kaunas in Lithuania. We don’t know what happened, but only a handful of the 900 prisoners who arrived in Kaunas will return after the war.

    In the Netherlands, 1944-1945 is the hardest year of the war. There is no food, no heating. The infrastructure is heavily destructed. In May 1945, the Canadians entered the city where we lived. The Nazi regime capitulates, and it is immense joy.

    Only weeks later, we hear what has happened in France. Investigations by Jan Weevers have been in vain. Will Paul Hermann return? In Tony Judt’s standard book Postwar, we read about the chaos in Middle Europe: many millions of displaced persons roam in deplorable conditions through what is left of Germany. Some returned home after months or years. Many don’t. Gradually we realise Paul will never come back.

    Surrounded by a beloved extended family, I grow up, go to the university to study medicine, marry, have a family. As a doctor, I work mainly in public health. And at the end of my career, I am elected in the Netherlands Parliament for the Green Party. After retirement, I am reminded of a pile of handwritten music scores which have been laying around for more than 60 years. They are old compositions of my father. He played music with his colleagues in all kinds of combinations.

    The Dutch foundation Forbidden Music Regained, which focuses on the work of composers who were persecuted by the Nazis, is interested. They are greatly impressed by the quality of the music, and organise concerts and recordings. My son Paul, named after his grandfather, develops into the coordinator of this legacy and makes it accessible to musicians all over the world.

    When he’s visiting cousins in Los Angeles, they introduce him to the Recovered Voices project of the Los Angeles Colburn School of Music, which is also aimed at persecuted composers. Top cellist Clive Greensmith is enthusiastic about Hermann’s music, especially about a draft for a piece for cello and orchestra. Paul has a friend, an Italian composer, Fabio Conti, who makes the draft into a complete piece for cello and orchestra using themes from other Hermann compositions. Greensmith plays the premiere in 2018, in Lviv, Ukraine.

    But another staff member in Los Angeles, Carla Shapreau, says: ‘Yes, this is the music. But where is that Gagliano cello?’ In 1953, Jan Weevers took the cello to the Netherlands. It has been sold to finance my studies, but we don’t know who bought it.

    Carla enlists the help of Oxford-based biography writer Kate Kennedy, who is working on a book about the duality of cellists and their cellos. Kate also gets under the spell of the Hermann story, and she looks for the cello literally all over the world – asking cellists, luthiers, instrument dealers, music schools, browsing through auction catalogues. Who knows the whereabouts of a Gagliano cello made in 1730 with the text ‘Ego sum anima musicae’ – I am the soul of music – on the side? But Kate does not find it. The publication date of her book nears; she feels defeated.

    The book Cello is published. Cellists everywhere read it. And then Kate gets a mail from a Chinese cello professor, Jian Wang, acting as jury member for the Concours Reine Elisabeth here in Brussels in 2022. He has noticed a cello. It is in the possession of the Robert Schumann Musik Hochschule in Düsseldorf, and only their best students are permitted to play it. At a presentation of Kate’s book Cello in the Wigmore Hall in London, where my father performed 100 years ago, Australian Sam Lucas plays, on Paul Hermann’s cello, one of his compositions.

    Between 1920 and 1940, Paul Hermann played the same cello in all Western and Central Europe. Searching for this icon of European culture has connected people from all over the world: from Europe to Los Angeles to China to Australia. And its amazing story has captured interest everywhere.

    For me, this is a reunion in spirit with the father whom I have missed for 85 years.

    Hitler has burned books, destroyed paintings and buildings, murdered millions of people. But music is invincible.

    Ego sum anima musicae. Freude, schöner Götterfunken. Alle Menschen werden Brüder.

     

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Defence Secretary speech at the ADS Annual Dinner: 28 January 2025

    Source: United Kingdom – Executive Government & Departments 3

    Defence Secretary John Healey addressed the ADS Annual Dinner on 28 January 2025.

    Good evening. Let me begin by thanking Kevin and his team at ADS for hosting this splendid event and for their work in promoting an industry that is the foundation for our way of life.

    ADS is going from strength to strength, with a double digit increase in your membership last year.

    You represent a commitment to innovation and excellence that are hallmarks of the British business spirit.

    Yours is an industry which proves that we are still – at heart – a nation of makers and inventors. I know recent times haven’t been easy. And as Defence Secretary, I am grateful to you all.

    This event brings us together from across the UK, across the industry and across the political divide.

    I welcome this because defence policy and procurement commitments reach beyond political cycles.

    I believe I’m the first Defence Secretary who’s spoken at this dinner, and tonight, you have two for the price of one with me as the warmup act for Penny Mourdant’s after dinner speech.

    Penny is someone with a lifelong connection and commitment to our armed forces, who rose to become the first woman ever to hold the role of Defence Secretary.

    I’ve had the privilege of six months in the role, part of a government taking on profound challenges in our economy, our public finances and our national security.

    Yet, as a new government, we’ve already:

    • Stepped up and speeded up support for Ukraine…
    • Increased defence spending by nearly £3 billion…
    • Launched a first of its kind Strategic Defence Review…
    • Given service personnel the largest pay rise in over 20 years… and still dealt with a multi-billion in-year deficit…
    • Signed the landmark Trinity House Agreement with Germany…
    • Secured a huge deal to buy back over 36,000 military homes to improve forces housing and save taxpayers billions…
    • Set new targets to tackle the recruitment crisis…
    • Begun a transformational MOD reform programme…
    • And got the Armed Forces Commissioner Bill through the House of Commons to improve service life.

    The point I want to make is that this is a new government that is delivering for defence.

    Something which I was able to underline last Friday at Rolls Royce, announcing a major new contract over 8 years, which will boost British jobs, business and national security.

    There’s incredible work being done there in Derby, by an incredible team, some of whom are here this evening.

    It’s a big investment, but behind the numbers are 200 apprentices a year who now feel they have a future.  

    And suppliers – 92 per cent of which are British based – who now feel like have certainty. 

    What really struck me – and it happens every time I visit a defence site – is the deep sense of pride and purpose.

    Defence workers are right to feel that way. Their efforts keep us all safe.

    And as an industry, you also invest huge sums in research and development. One of the great strengths of the defence industry is that you force us to reach for the future.

    Down the years, you’ve been responsible for some of the most significant innovations in history. Designed for times of war but which often produce lasting benefits for wider society well beyond the battlefield.

    As a nation, we’re good – and rightly so – at taking pride in the professionalism of our soldiers, sailors and aviators.

    But we know that that they are only as effective as the industry which equips them.

    We must be better at celebrating the role of the coders, programmers, scientists and engineers who provide our forces with the tools they need to protect us.

    It’s why I want us to not only change the way we work with the defence industry, but also change the way we see the defence industry.

    On the way we work with industry, I hope the last few months serve as a glimpse of type of partnership we want to forge.

    From industry involvement – for the first time ever – in our war gaming, to the creation of the new Defence Industrial Joint Council. 

    And on the way we see industry, we know we have much to do.

    Right now, there’s growing security concerns for defence firms at university careers, you attend to offer young people a route to a better life.

    You’re facing harassment and intimidation, forced to cancel events on campus. This is wrong.

    This attitude takes for granted the privileged position we enjoy in Britain – to live in freedom and security… security our defence industry guarantees. 

    So, today – alongside the Business and Education Secretaries – I’ve written to Universities UK for assurances about your safety on campuses. 

    We’re also seeing defence firms ranked alongside tobacco and gambling in Environmental, Social and Governance audits. And pension funds divest from you.

    I have no doubt the intentions are well-meaning. But they’re fundamentally flawed.

    We don’t stop wars by boycotting our defence industry.

    We stop wars by backing it.

    Let’s not forget that national security is a pre-condition for economic security, investor confidence and social stability. 

    I will always be a fierce advocate for you in the Department, to wider government, to the City, to the British public and to whoever needs to hear it.

    My challenge to you – as an industry – is to be louder and confident about your role.

    As my friend – Jonny Reynolds– said to the President’s Reception earlier:

    “You are exceptional in your importance… in helping to safeguard our national security and our way of life.

    “But you are also exceptional in your contribution to our economy. Nearly half a million well paid jobs are directly owed to aerospace, defence, security and space sectors.”

    To meet the challenges of this new era of threats, you’ve seen the direction we want to take with our Defence Industrial Strategy Statement of Intent.

    And let me thank everyone who’s shared their insights so far in submissions to both our industrial strategy, and SDR consultations. 

    I know – for some – our Statement of Intent may have been met with a degree of scepticism. You’ve been here before… I get that…

    New government, new ideas.

    But old habits die hard and entrenched interests dig in.

    Previous industrial strategies have produced policies – many of them good – but there wasn’t the plan, the structures and the relentless attention to reform needed to make change happen.

    So, why will this be different?

    First, it has to be different. 

    The war in Ukraine confronts us with the deep truth that when a country faces conflict or is forced to fight, its armed forces are only as strong as the industry which stands behind them…

    That innovation and production capacity is a major part of our nation’s – and our alliance’s – deterrence.

    And that industry’s constant purpose is to give the nation’s war fighters the advantage over our adversaries.

    The last Defence Industrial Strategy was published in 2021, a year before Putin shattered the peace in Europe.

    Ours will hardwire in these lessons and so too will the Strategic Defence Review.

    Second, I’m driving deep reform to defence.

    It doesn’t make news headlines, but it’s an essential foundation for implementing both the SDR and Defence Industrial Strategy.

    For industry, it means you’ll be brought in earlier to the conversation on how we should fight…

    We’ll ask you how you can help solve our problems rather than giving you a requirement to deliver.

    You’ll also see the creation of a new role, the National Armaments Director, soon-to-be one of the most senior roles in UK Defence, sitting alongside the Chief of the Defence Staff and Permanent Secretary.

    Their responsibilities will include:

    • Repairing a broken procurement system…
    • Ensuring our armed forces have what they need to fulfil their duty of protecting our nation…
    • And championing your industry at home and abroad.

    Third, defence is part of our bigger British drive for growth – the government’s number one mission.

    The Chancellor is speaking tomorrow about how we are going to meet this challenge.

    But the message I want to reinforce is that defence is an engine for driving economic growth.

    Fourth, we’ve proved we can do it by supporting Ukraine through Taskforce KINDRED and HIRST.

    From the onset, when it took 287 days after Putin invaded to sign contracts for new NLAWs…

    … to today, when we’ve created industrial bases for new capabilities – virtually from scratch…

    Supplying – at scale – one of the most effective drone systems in Ukraine.

    Restarted artillery barrel manufacturing in the UK to deliver hundreds to the front line.

    Enhancing our own capabilities through Stormer and Starstreak…while Gravehawk, Snapper and Wasp have all been developed with breathtaking speed.

    I don’t just want this to be the government’s new Defence Industrial Strategy, it needs to be a national endeavour… private and public… SMEs and primes… innovators and educators… trade associations and trade unions…

    All creating a defence industry which is better and more integrated…

    One that can keep our armed forces equipped… and innovating at wartime pace, ahead of our adversaries.

    The Shadow Defence Secretary is familiar with the challenges. 

    I know he will play his part in holding us to account.

    And I trust he – and his Party – will play their part in backing reforms that strengthen our country’s defence and its defence industry.

    This is new era of threats, demands a new era for defence.

    Change is essential, not optional.

    Our success rests on a new partnership with innovators, investors and industry.

    Our government is determined to meet the challenge, determined to deliver for defence.

    Together, we will make Britain secure at home and strong abroad.

    Thank you – enjoy your evening and I look forward to working with you over the coming years.

    Updates to this page

    Published 29 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI: 2024 Q4 Revenue

    Source: GlobeNewswire (MIL-OSI)

    • €994.6 million in total revenue for 2024, down -5.9%, reflecting the Group’s strategic orientations
      • Prioritizing margins over revenue growth
      • Managed decrease in the most mature markets
      • Focus on the Group’s profitable growth drivers, primarily in Germany and in Energy activities
    • Q4: €251.8 million in revenue, down -12.4%
      • Q4 2023 comparison basis particularly high
      • Impact of selectivity measures implemented in Q2 in the telecom sector in France and Spain
      • Fiber activity in Belgium remains low as negotiations continue between telco service providers seeking to pool their investments.
      • Strong growth in Germany, the group’s future third pillar: +51%
      • Strong growth in Energy activities: +30%
    • 2024 full-year margin outlook confirmed
      • Improvement of the Group’s adjusted EBITDA margin
      • Increase in adjusted EBITDA despite the revenue decline, demonstrating the relevance of the Group’s reinforced selectivity strategy
      12 months Q4
    In millions of euros (unaudited) 2024 2023 % change 2024 2023 % change
    Group 994.6 1,057.0         -5.9% 251.8 287.3         -12.4%
    Benelux 371.6 381.6         -2.6% 92.7 112.0         -17.2%
    France 360.6 403.3         -10.6% 90.5 105.6         -14.3%
    Other Countries 262.4 272.1         -3.6% 68.6 69.7         -1.6%

    Gianbeppi Fortis, Chief Executive Officer of Solutions30, stated: “As previously announced, Solutions30’s 2024 revenue trends reflect the Group’s strategic priorities, with a stronger focus on margins over revenue growth in a mixed market environment. In the fourth quarter, we continued to selectively scale back our revenue in our most mature segments, particularly in telecoms in France and Spain, in order to enhance operating margins. Meanwhile, fiber activity in Belgium remained temporarily subdued due to ongoing negotiations between service providers. At the same time, our key growth drivers – primarily Germany and energy transition-related services – continued to expand. Notably, energy services now represent nearly 20% of our fourth-quarter revenue. We confirm our objective of increasing the Group’s adjusted EBITDA for the full year 2024, despite the revenue decrease. This demonstrates our ability to significantly improve operating margins and highlights the effectiveness of our selectivity strategy in the market environment we faced in 2024.”

    Consolidated revenue

    In 2024, Solutions30’s consolidated revenue stood at €994.6 million, down -5.9% compared to 2023. This includes an organic contraction of -6.5%, a +0.2% impact from acquisitions, and a +0.4% favorable exchange rate effect.

    It also reflects the Group’s strategic objectives, as outlined during the Capital Markets Day on September 26, 2024, in a context where Solutions30 operates across markets and business segments at different stages of maturity. The Group has chosen to increasingly prioritize margins over revenue growth, leading to a scaling down in the French and Spanish telecom sectors, where certain contracts no longer met profitability requirements. At the same time, Solutions30 is accelerating the expansion of its profitable growth drivers in Germany and in the energy sector.

    Q4 consolidated revenue stood at €251.8 million, down -12.4% (-12.9% organically) compared to Q4 2023, which represented a particularly high basis for comparison (€287.3 million). Trends in Q4 remained in line with those observed in Q3, with: (i) the impact of selectivity measures implemented in Q2 in the French and Spanish telecom sectors, (ii) continued low levels of activity in Benelux, largely due to ongoing negotiations between Belgian service providers seeking to pool their fiber roll-out investments, and (iii) continued strong momentum in the Group’s key growth drivers: Germany, where fiber deployments are accelerating rapidly, and Energy services, a business the Group is successfully expanding.

    Benelux

    2024 Q4 revenue in Benelux stood at €92.7 million, down -17.2% (-17.6% organically) from a particularly high comparison basis (+61% in Q4 of 2023). Connectivity activities posted revenue of €67.3 million in Q4, down
    -26%. In Belgium, fiber optic deployment remained hindered by ongoing negotiations between telecom service providers seeking to streamline nationwide deployment. These negotiations continued to cause delays in activity for Solutions30, with the impact further amplified in Q4 by the merger of two of its local clients, Proximus and Fiberklaar, which led to discussions on adapting operational processes.

    Revenue from Energy activities reached €16.4 million in Q4, posting a modest 1.8% increase. While the roll-out of smart meters in Flanders has reached a plateau, further roll-outs in Wallonia and growth in network services are expected to drive momentum in the coming quarters. Meanwhile, Energy services in the Netherlands have slowed down due to electrical grid congestion, which is expected to prompt additional infrastructure investments.

    Technology Solutions remained strong, generating €9.0 million in revenue, up +67%, driven by the launch of a new IT support contract.        

    2024 annual revenue in Benelux reached €371.6 million, down slightly by -2.6% (-2.8% organically), after extremely strong growth (+72%) in 2023.

    France

    In France, 2024 Q4 revenue was €90.5 million, down -14.3% on an organic basis. This decrease is primarily attributable to Connectivity activities, which contracted by -38.2% to €45.2 million, following the selectivity measures implemented since the second quarter. As part of its strategic focus on profitability, the Group has significantly reduced its exposure to certain contracts that no longer met its profitability standards, with the impact further amplified by the slowdown in the fiber deployment market observed since the beginning of the year.

    The Group continues to successfully expand its Energy business, which posted strong growth of +54% in the fourth quarter, reaching €26.0 million in revenue, or 29% of the total. Supported by highly favorable structural trends, this segment is gradually establishing itself as a major growth driver for Solutions30, particularly in the photovoltaic sector, where the Group is achieving significant commercial and operational successes, recording a +72% increase in the fourth quarter. Momentum also remains strong in energy network services, which grew by +61% over the period.

    Technology activities sustain a strong momentum, generating €19.3 million in revenue in Q4, up +24%. Following an exceptional surge in business during the 2024 Paris Olympics in Q2, IT support services continued to grow strongly, driven by the expansion of Internet of Things solutions, particularly the installation of smart thermostats.

    Annual revenue for France in 2024 stood at €360.6 million, down -10.6%, including a -11% organic contraction and a +0.4% contribution from recent acquisitions.

    Other Countries

    In Other countries, the group generated €68.6 million in revenue in Q4 2024, down slightly by -1.6%. This includes an organic decline of -3.4% and a positive currency impact of +1.8%, reflecting the appreciation of the zloty and pound sterling against the euro during this period.

    In Germany, Solutions30 is capitalizing on exceptional market momentum, with 2024 Q4 revenue increasing by +51.3% to €24.6 million. Coaxial network services remain strong while fiber growth is picking up speed. Firmly established with the leading national telecom operators, the Group has the organization, expertise, and resources required to play a key role in accelerating roll-outs in the coming quarters.

    Solutions30 has continued to grow in Poland, with +6.4% revenue growth in Q4, reaching €15.1 million. While it has, until now, focused on Connectivity activities in this country, the Group recently won two electric vehicle charging infrastructure contracts with two major players, Ekoenergetyka and Inbalance Grid (see press release dated January 8, 2025).

    In Italy, Q4 revenue totaled €14.5 million. Business has returned to growth, posting a +6.2% increase over the period. However, this growth is offset by the positive impact of 2023 negotiations with the Group’s main Italian client, which was fully accounted for in Q4 2023, despite covering the entire fiscal year. This distorts the comparison, resulting in an apparent -10.6% decline in Q4 2024.

    In Spain, revenue amounted to €7.3 million, down -44.1% due to steps taken in Q2 to reduce the Group’s exposure to the mature telecoms market. The restructuring of the Connectivity business and the refocus on the Energy and Technology activities are ongoing.

    Finally, In the United Kingdom, revenue came in at €7.2 million, down -28.4% compared to Q4 2023. The Group continues to shift its focus toward the fiber and energy services markets, driven by a newly appointed local management team.

    In 2024, annual revenue for Other Countries was €262.4 million, down -3.6%, including a -5.0% organic contraction and a positive exchange rate effect of +1.4%.

    2024 full-year margin outlook confirmed

    For the whole of 2024, Solutions30 confirms its outlook for an improvement in its adjusted EBITDA margin, as well as an increase in adjusted EBITDA in absolute terms, despite the decline in revenue. This demonstrates the effectiveness of the selectivity strategy implemented by the Group in 2024.

     
    Governance

    Today the Supervisory Board appointed Mrs. Paola Bruno as Vice Chair of the Supervisory Board. A valued member of the Supervisory Board since 2023, Paola Bruno will continue to bring her extensive experience in corporate finance and strategy to this leadership role and to Solutions30 organization as a whole.

    Webcast for Investors and Analysts
    Date: Wednesday, January 29, 2025
    6:30 PM (CET) – 5:30 PM (GMT)

    Speakers
    Gianbeppi Fortis, Chief Executive Officer
    Amaury Boilot, Group General Secretary

    Connection Details
    Webcast in French: https://channel.royalcast.com/landingpage/solutions30-fr/20250129_1/

    Upcoming Events

    2024 Earnings Report                                                                                  March 31, 2025

    About Solutions30 SE

    Solutions30 provides consumers and businesses with access to the key technological advancements that are shaping our everyday lives, especially those driving the digital transformation and energy transition. With its network of more than 16,000 technicians, Solutions30 has completed over 65 million call-outs since its inception and led over 500 renewable energy projects with a combined maximum output surpassing 1600 MWp. Every day, Solutions30 is doing its part to build a more connected and sustainable world. Solutions30 has become an industry leader in Europe with operations in 10 countries: France, Italy, Germany, the Netherlands, Belgium, Luxembourg, Spain, Portugal, the United Kingdom, and Poland.
    The capital of Solutions30 SE consists of 107,127,984 shares, equal to the number of theoretical votes that can be exercised. Solutions30 SE is listed on the Euronext Paris exchange (ISIN FR0013379484- code S30).
    Indices : CAC Mid & Small | CAC Small | CAC Technology | Euro Stoxx Total Market Technology | Euronext Tech Croissance.
    Visit our website for more information: www.solutions30.com.

    Contact

    Individual Shareholders:
    Tel: +33 (0)1 86 86 00 63 – shareholders@solutions30.com

    Analysts/Investors:
    investor.relations@solutions30.com

    Press – Image 7:
    Charlotte Le Barbier – Tel: +33 6 78 37 27 60 – clebarbier@image7.fr

    Attachment

    The MIL Network –

  • MIL-OSI Africa: Chad’s parliamentary election hands Mahamat Déby absolute control. Here’s why it’s dangerous

    Source: The Conversation – Africa – By Helga Dickow, Senior Researcher at the Arnold Bergstraesser Institut, Freiburg Germany, University of Freiburg

    Chad held parliamentary elections in late December 2024. The final results released on 21 January 2025 gave the well-established former ruling party, the Movement Patriotique du Salut (MPS), 124 seats out of 188.

    The election marked the end of a four-year transition in Chad following the death of former president Idriss Déby Itno in March 2021. Déby had ruled Chad since 1991. Mahamat Déby Itno assumed power on the death of his father.

    The result has meant that Mahamat Déby has given himself a degree of legitimacy as president through elections. He can comfortably remain in power for at least another five or even ten years.

    Read more: Chad’s election outcome already seems set: 4 things Mahamat Déby has done to stay in power

    I have been following Chad’s politics from inside and outside the country for more than 15 years. In my view, Mahamat Déby’s actions during the transition, with the help of the transitional authorities and his late father’s old teams, were aimed at keeping him in power. The December 2024 parliamentary elections were a formality. The poll was not won on polling day. It was clear from the run-up that, as was the case with the May 2024 presidential elections, every effort was being made to minimise the success of the opposition.

    Four factors stand out. They are the composition of the electoral authorities, lack of an up-to-date electoral register, violence against dissenting voices, and high costs of participation in the election.

    In my view Chadians’ trust in the democratic process has ceased completely. This bodes ill for a country that ranks as one of the poorest. It is also one of the most corrupt. The consolidation of Mahamat Déby’s power could widen the social divide and lead to violent conflict between different groups in Chad, which is highly stratified along ethnic and religious lines.

    Dissatisfaction with his decades of autocratic rule characterised Idriss Déby’s reign. Political-military movements challenged him regularly, and the last attack led to his death.

    This dissatisfaction will continue and could once again lead to violent conflicts.

    Read more: Chad: promises of a new chapter fade as junta strengthens its hold ahead of elections

    Corruption of the process

    Mahamat Déby and the Movement Patriotique du Salut took a number of steps to secure victory in the election.

    Firstly, the presidents of the electoral authority ANGE (Agence Nationale de Gestion des Élections) and of the constitutional court nominated by Mahamat Déby were responsible for organising and for validating elections (and will continue to be responsible until 2031). Having been loyal to Idriss Déby and now to his son, they cannot be trusted to be objective and independent in their pronouncements and final decisions.

    Secondly, the electoral register was last updated in August 2024. Therefore, young people who had just turned 18 could not vote. In Chad, the majority of the population is under 25. Young people in particular in the south support the opposition.

    Thirdly, the transitional regime’s violent crackdown on opposing voices played a role in the final outcome of the election.

    The transition was initially characterised by peace talks with the political-military movements and by expanding the security sector to secure its rule. In October 2022, several hundred mainly young people were killed by security forces while demonstrating against the extension of the transition and Mahamat Déby’s candidacy for presidency.

    In the intervening period the state took various steps against opposition figures.

    In February 2024 Yaya Dillo, a cousin of Mahamat Deby and a potential rival in the presidential elections, was shot dead by security forces.

    In May 2024, Mahamat Déby was elected president. In December 2024 he took on the title of marshal – previously held only by his father.

    The opposition was also hampered in participating in the poll for financial reasons. Taking part in the elections is expensive. Each candidate in the parliamentary election had to pay 500,000 CFA (US$785) to the treasury. Candidates for the provincial election paid 200,000 CFA (US$314). In poverty-stricken Chad, without regular funding for political parties, it was particularly difficult for smaller parties to meet these criteria.

    The situation was different for the ruling party, founded by Idriss Déby. For decades it has benefited from state resources. It is the only party with a nationwide presence. Other parties are mainly active in the regions of their founders.

    Read more: Chad’s Mahamat Deby doubles down on authoritarian rule in wake of election victory

    Resistance

    Opposition parties called for a boycott. The Groupe de Concertation des Acteurs Politiques, a coalition of nine parties, criticised the new electoral law and the lack of transparency of the count at the polling stations.

    Succès Masra, leader of Les Transformateurs, a former prime minister who came second in the 2024 presidential elections, also called for a boycott. He accused the government of falsifying the results of the parliamentary election beforehand and of having the final lists saved in a computer. His party did not participate in the poll.

    The results of the parliamentary elections presented on 11 January 2025 by Ahmed Barticheret, president of the electoral commission, and confirmed by the constitutional court on 21 January, therefore revealed no surprises.

    Alongside the huge victory of the Movement Patriotique du Salut, two other parties not really in opposition won 12 and 7 seats respectively. The other successful parties won just one seat each. Chad has over 300 political parties, of which 38 are represented in the new parliament.

    Read more: Chad presidential election: assassination of main opposition figure casts doubt on country’s return to democracy

    Consequences

    Movement Patriotique du Salut has an overwhelming majority in parliament. This means that there are no checks and balances. Like his father, Mahamat Déby can continue to rule without any parliamentary control.

    He is already used to that. Since 2021, he has appointed members of the transitional parliament by presidential decree. The few voices of individual members of parliament belonging to the “real” opposition have no influence.

    As the low turnout – put at 40% on election day – shows, the majority of voters did not expect the election result to change the political situation. On the other hand, supporters of the ruling party continue to benefit from proximity to power and state resources.

    As dissatisfaction continues, the possibility of renewed attacks by dissidents cannot be ruled out. If it is not a military attack, frustrated individuals might try to target the presidency or other symbols of the regime.

    In early January 2025 a group of unidentified young people reportedly attacked the presidency. The incident was played down by the government spokesman, leaving plenty of room for speculation.

    But it was a reminder that a peaceful future is not assured.

    – Chad’s parliamentary election hands Mahamat Déby absolute control. Here’s why it’s dangerous
    – https://theconversation.com/chads-parliamentary-election-hands-mahamat-deby-absolute-control-heres-why-its-dangerous-248342

    MIL OSI Africa –

  • MIL-OSI Global: Chad’s parliamentary election hands Mahamat Déby absolute control. Here’s why it’s dangerous

    Source: The Conversation – Africa – By Helga Dickow, Senior Researcher at the Arnold Bergstraesser Institut, Freiburg Germany, University of Freiburg

    Chad held parliamentary elections in late December 2024. The final results released on 21 January 2025 gave the well-established former ruling party, the Movement Patriotique du Salut (MPS), 124 seats out of 188.

    The election marked the end of a four-year transition in Chad following the death of former president Idriss Déby Itno in March 2021. Déby had ruled Chad since 1991. Mahamat Déby Itno assumed power on the death of his father.

    The result has meant that Mahamat Déby has given himself a degree of legitimacy as president through elections. He can comfortably remain in power for at least another five or even ten years.



    Read more:
    Chad’s election outcome already seems set: 4 things Mahamat Déby has done to stay in power

    I have been following Chad’s politics from inside and outside the country for more than 15 years. In my view, Mahamat Déby’s actions during the transition, with the help of the transitional authorities and his late father’s old teams, were aimed at keeping him in power. The December 2024 parliamentary elections were a formality. The poll was not won on polling day. It was clear from the run-up that, as was the case with the May 2024 presidential elections, every effort was being made to minimise the success of the opposition.

    Four factors stand out. They are the composition of the electoral authorities, lack of an up-to-date electoral register, violence against dissenting voices, and high costs of participation in the election.

    In my view Chadians’ trust in the democratic process has ceased completely. This bodes ill for a country that ranks as one of the poorest. It is also one of the most corrupt. The consolidation of Mahamat Déby’s power could widen the social divide and lead to violent conflict between different groups in Chad, which is highly stratified along ethnic and religious lines.

    Dissatisfaction with his decades of autocratic rule characterised Idriss Déby’s reign. Political-military movements challenged him regularly, and the last attack led to his death.

    This dissatisfaction will continue and could once again lead to violent conflicts.



    Read more:
    Chad: promises of a new chapter fade as junta strengthens its hold ahead of elections

    Corruption of the process

    Mahamat Déby and the Movement Patriotique du Salut took a number of steps to secure victory in the election.

    Firstly, the presidents of the electoral authority ANGE (Agence Nationale de Gestion des Élections) and of the constitutional court nominated by Mahamat Déby were responsible for organising and for validating elections (and will continue to be responsible until 2031). Having been loyal to Idriss Déby and now to his son, they cannot be trusted to be objective and independent in their pronouncements and final decisions.

    Secondly, the electoral register was last updated in August 2024. Therefore, young people who had just turned 18 could not vote. In Chad, the majority of the population is under 25. Young people in particular in the south support the opposition.

    Thirdly, the transitional regime’s violent crackdown on opposing voices played a role in the final outcome of the election.

    The transition was initially characterised by peace talks with the political-military movements and by expanding the security sector to secure its rule. In October 2022, several hundred mainly young people were killed by security forces while demonstrating against the extension of the transition and Mahamat Déby’s candidacy for presidency.

    In the intervening period the state took various steps against opposition figures.

    In February 2024 Yaya Dillo, a cousin of Mahamat Deby and a potential rival in the presidential elections, was shot dead by security forces.

    In May 2024, Mahamat Déby was elected president. In December 2024 he took on the title of marshal – previously held only by his father.

    The opposition was also hampered in participating in the poll for financial reasons. Taking part in the elections is expensive. Each candidate in the parliamentary election had to pay 500,000 CFA (US$785) to the treasury. Candidates for the provincial election paid 200,000 CFA (US$314). In poverty-stricken Chad, without regular funding for political parties, it was particularly difficult for smaller parties to meet these criteria.

    The situation was different for the ruling party, founded by Idriss Déby. For decades it has benefited from state resources. It is the only party with a nationwide presence. Other parties are mainly active in the regions of their founders.



    Read more:
    Chad’s Mahamat Deby doubles down on authoritarian rule in wake of election victory

    Resistance

    Opposition parties called for a boycott. The Groupe de Concertation des Acteurs Politiques, a coalition of nine parties, criticised the new electoral law and the lack of transparency of the count at the polling stations.

    Succès Masra, leader of Les Transformateurs, a former prime minister who came second in the 2024 presidential elections, also called for a boycott. He accused the government of falsifying the results of the parliamentary election beforehand and of having the final lists saved in a computer. His party did not participate in the poll.

    The results of the parliamentary elections presented on 11 January 2025 by Ahmed Barticheret, president of the electoral commission, and confirmed by the constitutional court on 21 January, therefore revealed no surprises.

    Alongside the huge victory of the Movement Patriotique du Salut, two other parties not really in opposition won 12 and 7 seats respectively. The other successful parties won just one seat each. Chad has over 300 political parties, of which 38 are represented in the new parliament.



    Read more:
    Chad presidential election: assassination of main opposition figure casts doubt on country’s return to democracy

    Consequences

    Movement Patriotique du Salut has an overwhelming majority in parliament. This means that there are no checks and balances. Like his father, Mahamat Déby can continue to rule without any parliamentary control.

    He is already used to that. Since 2021, he has appointed members of the transitional parliament by presidential decree. The few voices of individual members of parliament belonging to the “real” opposition have no influence.

    As the low turnout – put at 40% on election day – shows, the majority of voters did not expect the election result to change the political situation. On the other hand, supporters of the ruling party continue to benefit from proximity to power and state resources.

    As dissatisfaction continues, the possibility of renewed attacks by dissidents cannot be ruled out. If it is not a military attack, frustrated individuals might try to target the presidency or other symbols of the regime.

    In early January 2025 a group of unidentified young people reportedly attacked the presidency. The incident was played down by the government spokesman, leaving plenty of room for speculation.

    But it was a reminder that a peaceful future is not assured.

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

    – ref. Chad’s parliamentary election hands Mahamat Déby absolute control. Here’s why it’s dangerous – https://theconversation.com/chads-parliamentary-election-hands-mahamat-deby-absolute-control-heres-why-its-dangerous-248342

    MIL OSI – Global Reports –

  • MIL-OSI Economics: kersten-anlageberatung.de: BaFin warns consumers about website and renewed identity fraud

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The financial supervisory authority BaFin warns offers from the website kersten-anlageberatung.de. The website is almost identical to kersten-anlageberatung.com, which BaFin already warned against on 17 January 2025. BaFin expressly points out that the licensed securities institution Kersten Anlageberatung GmbH contrary to the information in the imprint does not operate the website kersten-anlageberatung.de either. This is yet another case of identity theft.

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

  • MIL-OSI Global: ‘Aliens’ and ‘animals’ – language of hate used by Trump and others can be part of a violent design

    Source: The Conversation – USA – By Ronald Niezen, Professor of Practice in Sociology, University of San Diego

    Asylum seekers wait at Catholic Charities in McAllen, Texas, for humanitarian aid on Jan. 18, 2025. Associated Press/Eric Gay

    “Animals,” “aliens” and “people with bad genes” – President Donald Trump and his supporters often use this kind of dehumanizing language to describe immigrants.

    In the 2024 presidential debate between Trump and Democratic candidate Kamala Harris, Trump falsely referred to Haitian refugees in Springfield, Ohio, as “eating the pets of the people that live there.” And in his Jan. 20, 2025, inaugural address, Trump spoke of “dangerous criminals, many from prisons and mental institutions,” who have illegally entered the U.S. “from all over the world.”

    Using hateful, polarizing language to gain a political advantage or make an argument against a group of people, like immigrants, is not unique to the U.S.

    The use of this language is associated with populist shifts in many parts of the world.

    I am a scholar of international human rights who has studied the language associated with mass atrocities. I have also written about how social media can amplify misinformation and hate speech.

    Some observers and analysts who follow Trump dismiss his hateful language against immigrants as empty bluster or performance art.

    The implication is that Trump will not act on his most extreme promises and follow through on what he has called “the largest domestic deportation operation in American history.”

    In the first few days of the new Trump administration, U.S. Immigration and Customs Enforcement officers began raids to detain immigrants living in the U.S. illegally and increased their number of arrests and deportations of immigrants, including those without violent criminal records.

    Tom Homan, the U.S. border czar, has said that the government’s mass immigration deportation plans – which he said could include raids on schools, churches and other places previously considered havens – is “all for the good of this nation.”

    My hate speech research shows that, as the world has seen to its horror again and again, words that slander and strip people of their voices and humanity are often a first step toward discriminatory and violent policies. At its most extreme, speaking of people as dirty and polluting and saying they lack humanity makes it easier to kill them.

    Immigration and Customs Enforcement agents handcuff a detained immigrant in Maryland on Jan. 25, 2025.
    Associated Press/Alex Brandon

    Echoes from the fascist past

    There is nothing new about the hateful political rhetoric that has become common today.

    In the lead-up to and during World War II, fascist leaders in Europe targeted Jews, Roma, gay people and other groups as sources of “social pollution,” as beyond being human, while describing themselves as noble and decent, embodying a pure, uncorrupted nation.

    In 1920, well before the German Nazi Party came to power in 1933, its platform declared that “Only someone of German blood, regardless of faith, can be a citizen.”

    Viktor Klemperer, a literary scholar who was a close observer of Nazism, wrote in a diary published posthumously in 1995 that the Third Reich’s demonizing language against Jews and other marginalized groups helped create its culture and justify its mass killings. Nazis consequently assumed the mantle of liberators as they killed those whom they saw as corrupting the “pure race,” in accordance with ideas of “racial hygiene.”

    The Nazis murdered more than 12 million people.

    The Nazis’ hateful language was not limited to Europe. Fritz Kuhn, a German Nazi activist, served in the late 1930s and early 1940s as leader of the German American Bund, an organization of ethnic Germans and Nazi sympathizers living in the U.S. He addressed a Nazi rally at Madison Square Garden in New York City in 1939.

    Kuhn said during his speech that American citizens with American ideals are “determined to protect ourselves, our homes, our wives and children against the slimy conspirators who would change this glorious republic into the inferno of a Bolshevik paradise.”

    The U.S. government stripped Kuhn of his U.S. citizenship in 1943 and deported him to Germany in 1945 because of his pro-Nazi allegiance.

    Italy’s far right shifts from words to violence

    Italy offers another example of how hateful speech can lead to discriminatory or violent policies. Right-wing politicians and policies have grown more popular and powerful in the past few years in Italy.

    In 2018, Matteo Salvini, then the deputy prime minister who now holds the same position, denounced the Roma people, an ethnic minority. He called for their removal through a “mass cleansing street by street, piazza by piazza, neighborhood by neighborhood.”

    These were not empty words.

    Salvini’s call was accompanied by mob violence, mass evictions and demolition of Roma informal camps set up in the streets. The Roma people continue to face discrimination and racial profiling.

    Salvini has directed his most virulent language, however, toward the tens of thousands of migrants and asylum seekers, mostly from Africa, who attempt to reach Italy via the Mediterranean Sea.

    Salvini has frequently called the arrival of migrants a “flood” or “surge”. This kind of dehumanizing language makes it easier to provoke alarm about an abstract, unwanted mass of people.

    The claims behind Salvini’s alarmism, however, are not borne out by facts. Since the peak of migrant sea crossings, when a few hundred thousand migrants entered Italy from 2014 through 2017, the country’s crime rate has fallen significantly.

    Salvini, perhaps more than any other populist leader in the world, has turned his hateful language and use of misinformation into action. Italian authorities under Salvini’s direction have detained ships working to help rescue migrants who are in danger at sea, preventing them from carrying out those rescues.

    This obstruction violates European Union law, which ensures the legal right to help anyone found in distress at sea.

    In September 2024, an Italian prosecutor requested a six-year jail term for Salvini, accusing him of kidnapping 147 migrants by preventing them from landing at a port in Italy for several weeks.

    Salvini said he was defending Italian borders by keeping the migrants aboard a Spanish migrant rescue ship.

    Salvini was acquitted of kidnapping and dereliction of duty charges in December 2024.

    White House Press Secretary Karoline Leavitt speaks during a press briefing on Jan. 28, 2025, alongside an image of an alleged criminal detained by Immigration and Customs Enforcement.
    Chip Somodevilla/Getty Images

    What to expect

    We can’t be certain at this point what Trump’s and his supporters’ hateful language against immigrants, minorities and political opponents will yield.

    Judging by Italy’s example and other instances, it’s possible that laws will be broken in implementing Trump’s immigration and asylum policies.

    A federal judge temporarily halted Trump’s Jan. 20 executive order that told federal agencies to not process identification documents for babies born to parents who are living in the country illegally, among other scenarios.

    It’s not clear how these policies will continue to unfold. What is clear is that words of hate have been used in many times and places as a justification for illegal arrests and, in some cases, as a prelude to state-sanctioned mass violence.

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

    – ref. ‘Aliens’ and ‘animals’ – language of hate used by Trump and others can be part of a violent design – https://theconversation.com/aliens-and-animals-language-of-hate-used-by-trump-and-others-can-be-part-of-a-violent-design-245524

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Chancellor vows to go further and faster to kickstart economic growth

    Source: United Kingdom – Executive Government & Departments

    Chancellor of the Exchequer Rachel Reeves spoke at Siemens Healthineers in Oxfordshire on 29 January 2025.

    Thank you everyone. 

    It’s fantastic to be here at Siemens at this amazing facility.  

    Today, I want to talk about economic growth. 

    Why it matters.  

    How we achieve it.  

    And what we are going to do further and faster to deliver it. 

    Before we came into office… 

    … the Prime Minister and I have said loud and clear:  

    Economic growth is the number one mission of this government.  

    Without growth, we cannot cut hospital waiting lists or put more police on the streets.  

    Without growth, we cannot meet our climate goals… 

    … or give the next generation the opportunities that they need to thrive. 

    But most of all… 

    … without economic growth… 

    … we cannot improve the lives of ordinary working people.  

    Because growth isn’t simply about lines on a graph. 

    It’s about the pounds in people’s pockets. 

    The vibrancy of our high streets. 

    And the thriving businesses that create wealth, jobs and new opportunities for us, for our children, and grandchildren.  

    We will have succeeded in our mission when working people are better off. 

    I know that the cost of living crisis is still very real for many families across Britain.  

    The sky high inflation and interest rates of the past few years have left a deep mark… 

    … with too many people still making sacrifices to pay the bills and to pay their mortgages.   

    But we have begun to turn this around.  

    Everything I see as I travel around the country gives me more belief in Britain. 

    And more optimism about our future. 

    Because we as a country have huge potential.  

    A country of strong communities, with small and local businesses at their heart.  

    We are at the forefront of some of the most exciting developments in the world… 

    … like artificial intelligence and life sciences…  

    … with great companies like DeepMind, AstraZeneca, Rolls Royce… and of course Siemens…  

    … delivering jobs and investment across Britain. 

    We have fundamental strengths – in our history, in our language, and in our legal system – to compete in a global economy.  

    But for too long, that potential has been held back.  

    For too long, we have accepted low expectations and accepted decline. 

    We no longer have to do that.  

    We can do so much better. 

    Low growth is not our destiny.  

    But growth will not come without a fight.  

    Without a government willing to take the right decisions now to change our country’s future for the better. 

    That’s what our Plan for Change is all about. 

    That is what drives me as Chancellor.  

    In my Mais lecture in March last year, I set out my approach to achieving economic growth… 

    … and identified the fundamental barriers to realising our full potential.  

    The productive capacity of the UK economy has become far too weak.  

    Productivity, the driver of living standards…   

    …has grown more slowly here than in countries like Germany and the US.  

    The supply side of our economy has suffered due to chronic underinvestment… 

    … and stifling and unpredictable regulation…  

    … not helped by the shocks we have faced in recent years. 

    [redacted political content]

    The strategy that I have consistently set out… 

    … is to grow the supply-side of our economy… 

    … recognising that first and foremost… 

    … it is businesses, investors and entrepreneurs who drive economic growth… 

    … a government that systematically removes the barriers that they face – one by one and has their back 

    This strategy has three essential elements: 

    First, stability in our politics, our public finances and our economy – the basic condition for secure economic growth. 

    Second, reform – reform which makes it easier for businesses to trade, to raise finance and to build.  

    And third, investment, the lifeblood of economic growth. 

    Let me explain each of those in turn.  

    Stability – the first line of our manifesto was a promise to bring stability to the public finances.  

    It is the rock upon which everything else is built. 

    And it is the essential foundation of our Plan for Change.  

    Because economic stability is the precondition for economic growth. 

    That’s why the first piece of legislation that we passed as a government was the Budget Responsibility Act… 

    … so never again will we see our independent forecaster sidelined.

    [redacted political content]

    At my first Budget in October… 

    … it was my duty as Chancellor… 

    … to fix the foundations of our economy, and repair the public finances that we inherited. 

    To restore stability and create the conditions for growth and investment.  

    I set out new fiscal rules which are non-negotiable, and will always be met. 

    We began to rebuild our NHS and our schools – the start of a programme of public service reform.  

    I capped the rate of corporation tax – and I extended our generous capital allowances for the duration of this parliament – as the CBI and the BCC have long called for.  

    And I protected working people after a cost of living crisis… 

    … by freezing fuel duty… 

    … and with no increases in their National Insurance, Income Tax or VAT. 

    But taking the right decisions and the responsible decisions does not always mean taking the easy decisions. 

    The increase in Employers’ National Insurance contributions has consequences on business and beyond.   

    I said that up front in my Budget speech. 

    I accept that there are costs to responsibility. 

    But the costs of irresponsibility would have been far higher. 

    Those who oppose my Budget know that too. 

    That is why, since October, I have seen no alternative put forward [redacted political content].

    No alternatives to deal with the challenges we face.  

    No alternatives to restoring economic stability… 

    … and therefore no plan for driving economic growth. 

    Alongside stability, we need to drive forward the reform which makes investment more likely… 

    … by removing the constraints on the supply side of our economy… 

    … making it easier for businesses to trade… 

    … to raise finance… 

    … and to build.  

    Let me first address our approach to trade.  

    We stand at a moment of global change.  

    In that context, we should be guided by one clear principle above all.  

    To act in the national interest… 

    … for our economy… 

    … for our businesses… 

    … and for the British people. 

    That means building on our special relationship with the United States under President Trump. 

    The Prime Minister discussed the vital importance of growth with the President last weekend…  

    … and I look forward to working with the new Treasury Secretary, Scott Bessent… 

    … to deepen our economic relationship in the months and the years ahead. 

    Acting in our national interest also means resetting our relationship with the EU – our nearest and our largest trading partner – to drive growth and support business.  

    We are pragmatic about the challenges that we have inherited from the last government’s failed Brexit deal.  

    But we are also ambitious in our goals.  

    [redacted political content]

    … we will prioritise proposals that are consistent with our manifesto commitments… 

    … and which contribute to British growth and British prosperity… 

    … because that is what the national interest demands.  

    Our approach to trade also means building stronger relationships with fast-growing economies all around the world. 

    That is why I led a delegation to China for the first Economic and Financial Dialogue since 2019… 

    … alongside world-leading financial service businesses, including HSBC, Standard Chartered and Schroders…  

    … unlocking £600 million of tangible benefits for the UK economy. 

    And I am pleased to confirm that the Business and Trade Secretary will shortly visit India … 

    … to restart talks on the free trade agreement and bilateral investment treaty [redacted political content].  

    Our businesses can only realise these opportunities if they can recruit the skilled staff that they need. 

    So we are reforming our employment system to create a national jobs and careers service. 

    We have created Skills England to meet the skills of the next decade in sectors like construction and engineering.  

    And we will deliver fundamental reform of our welfare system.  

    That includes looking at areas that have been ducked for too long… 

    … like the rising cost of health and disability benefits… 

    … and the Secretary of State for Work and Pensions will set out our plans to address this ahead of the Spring Statement.  

    Next, the Immigration White Paper, that will bring forward concrete proposals to bring the overall levels of net migration down. 

    But we know that the UK is in an international competition for talent in vital growth sectors.    

    That is why last week, I set out plans for attracting global talent. 

    We will look at the visa routes for very highly skilled people…  

    … so the best people in the world choose the UK to live, work and create wealth… 

    … bringing jobs and investment to Britain. 

    To help businesses access the finance and support they need to grow…  

    … we have delivered significant reforms to provide greater flexibility for firms and founders to raise finance on UK capital markets, by rewriting the UK’s listing rules.  

    In my Mansion House speech, I announced a series of reforms to our pensions system…  

    … including the creation of larger, consolidated funds… 

    … which have much greater capacity to invest in high growth British companies at the scale that we need them to.  

    The consultation on these reforms is already complete and the final report will be published in the Spring. 

    Yesterday we confirmed that we have plans to go further, whilst always protecting the important role that pension funds play in the gilt market. 

    We will introduce new flexibilities for well-funded Defined Benefit schemes… 

    … to release surplus funds where it is safe to do so… 

    … generating even more investment into some of our fastest growing industries. 

    I know too that businesses are held back by a complex and unpredictable regulatory system… 

    … and that is a drag on investment and innovation. 

    We have already provided new growth-focused remits to our financial services regulators… 

    … we have announced a new interim Chair of the Competition and Markets Authority…  

    … and we have established the Regulatory Innovation Office, with an initial focus on synthetic biology, space, AI, and connected and autonomous vehicles.  

    But we need to go further and we need to go faster.  

    So earlier this month, I met the Heads of some of our largest regulators. 

    They have already provided a range of options to drive growth in their sectors… 

    … and proposals for how they can be more agile and responsive to businesses… 

    … and we will publish that final action plan in March to make regulation work much better for our economy. 

    To get Britain building again… 

    … we have delivered the most significant reforms to our planning system in a generation.  

    I have been genuinely shocked about how slow our planning system is. 

    By how long it takes to get things done.  

    Take the decision to build a solar farm in Cambridgeshire – a decision the Energy Secretary took only a few weeks into the job in July… 

    [redacted political content]

    The Deputy Prime Minister has already driven significant progress across government in addressing these issues.   

    My colleagues have determined 13 major planning decisions in just six months… 

    … including for airports, data centres and major housing developments.   

    We have significantly raised housing targets across our country and made them mandatory, so that we can build one-and-a-half million homes in this parliament.  

    We have reformed decades-old “green belt” policies, making it easier to build on the “grey belt” land around our major cities. 

    And we have opened up our planning system to build new infrastructure – like onshore wind farms or data centres driving the AI revolution. 

    Having listened closely to calls from business groups like the Institute of Directors… 

    … and businesses across our economy about the need to speed up infrastructure delivery… 

    … including Mace, Skanska and Arup who are here today… 

    … and members of our British Infrastructure Taskforce like Lloyds, Blackrock and Phoenix… 

    … we have now set out plans to go even further. 

    Last week we confirmed our priorities for the Planning and Infrastructure Bill … 

    … to rapidly streamline the process for determining applications… 

    … to make the consultation process far less burdensome… 

    … and to fundamentally reform our approach to environmental regulation. 

    The problems in our economy… 

    … the lack of bold reform that we have seen over decades… 

    … can be summed up by a £100 million bat tunnel built for HS2… 

    … the type of decision that has made delivering major infrastructure in our country far too expensive and far too slow. 

    So we are reducing the environmental requirements placed on developers when they pay into the nature restoration fund that we have created… 

    …so they can focus on getting things built, and stop worrying about bats and newts.  

    And to build our new infrastructure like nuclear power plants, trainlines and windfarms more quickly… 

    … we are changing the rules to stop blockers getting in the way of development… 

    … through excessive use of Judicial Review. 

    This Bill, the Planning and Infrastructure Bill, is a priority for this government. 

    It will be introduced in the Spring… 

    … and we will work tirelessly in parliament to ensure its smooth, and speedy and rapid delivery.  

    By providing a foundation of economic stability… 

    … and by delivering the reforms needed to make it easier for businesses to succeed and grow… 

    … we will create the right conditions to increase investment in our economy – the final key element of our strategy. 

    Investment and innovation go hand in hand.  

    I want to see the sounds and the sights of the future arriving.    

    Delivered by amazing businesses like Wayve and Oxford Nanopore. 

    They are the future. 

    And Britain should be the best place in the world to be an entrepreneur. 

    That is why we protected funding for research and development… 

    … and it is why one of the first decisions I made as Chancellor… 

    … was to extend the Enterprise Investment Scheme and the Venture Capital Trust schemes for a further 10 years… 

    … to get more investment into new companies, driving their innovation and growth.  

    I am determined to make Britain the best place in the world to invest.  

    That was my message in Davos last week.  

    That ambition demands action. 

    The International Investment Summit that we hosted in October delivered £63 billion of investment right across our country… 

    … from Iberdrola doubling its investment in clean energy in places like Suffolk… 

    … Blackstone investing £10 billion in a data centre in Northumberland… 

    … and Eren Holdings investing £1 billion in advanced manufacturing in North Wales.  

    While the lifeblood of growth is business investment, a strategic state has a crucial role to play. 

    That is why we established the National Wealth Fund… 

    … to create that partnership between business, private investors and government to invest in the industries of the future…  

    … like clean energy. 

    Today I can announce two further investments by the National Wealth Fund. 

    First, a £65 million investment for Connected Kerb, to expand their electric vehicle charging network across the UK. 

    And second, a £28 million equity investment in Cornish Metals… 

    … providing the raw materials to be used in solar panels, wind turbines and electric vehicles… 

    … supporting growth and jobs in the South-West of England.  

    There is no trade-off between economic growth and net zero. 

    Quite the opposite. 

    Net zero is the industrial opportunity of the 21st century, and Britain must lead the way. 

    That is why we will publish a refreshed Carbon Budget Delivery Plan later this year, which alongside the Spending Review, will set out our plans to deliver Carbon Budget 6. 

    Today, I can also announce that we are removing barriers to deliver 16 gigawatts of offshore wind…   

    … by designating new Marine Protected Areas to enable the development of this technology in areas like East Anglia and Yorkshire… 

    … crowding in up to £30 billion of investment in homegrown clean power. 

    And there’s more. 

    Our industrial and manufacturing base, brilliantly represented by Make UK, have been banging their heads against the wall for years at the lack of a proper industrial strategy from government. 

    That is why we have launched our modern industrial strategy… 

    … to drive investment into the industries that will define our success in the years ahead. 

    We have already provided funding to unlock investment in sectors like aerospace, automotives and life sciences… 

    … and we have set out reforms to boost financial services, the AI sector and creative industries. 

    We are not wasting any time, and we will move forward with the next stages of the Industrial Strategy ahead of its publication in the Spring.  

    We will work with the private sector to deliver the infrastructure that our country desperately needs.  

    This includes the Lower Thames Crossing, which will improve connectivity at Port of Tilbury and Dover, London Gateway and Medway… 

    … alleviating severe congestion… 

    … as goods destined for export come from the North, and the Midlands and across the country to markets overseas.   

    To drive growth and deliver value for money for taxpayers, we are exploring options to privately finance this important project.  

    And we have changed course on public investment, too… 

    … with a new Investment Rule to ensure that we don’t just count the costs of investment – we count the benefits too.    

    We are now investing 2.6% of GDP on average over the next five years, compared to 1.9% planned by the previous government..  

    … delivering an additional £100 billion of growth-enhancing capital spending… 

    … which catalyses private sector investment… 

    … in more housing… 

    … better transport links… 

    … and clean energy.  

    These are significant steps in just six months… 

    … and we are seeing some encouraging signs in the British economy. 

    The IMF have upgraded our growth prospects for 2025… 

    … the only G7 country outside the US to see this happen.  

    This gives us the fastest growth of any major European economy this year.  

    And a global survey of CEOs by PWC, has shown Britain is now the second most attractive country in the world for businesses looking to invest.  

    The first time the UK has been in that position for 28 years.  

    This is all welcome news.  

    But there is still more that we can and will do.  

    I am not satisfied with the position we are in. 

    While we have huge amounts of potential, the structural problems in our economy run deep. 

    And the low growth of the last 14 years cannot just be turned around overnight. 

    This has to be our focus for the duration of the parliament.  

    Because the situation demands us to do more. 

    And today I will go further and faster in kickstarting economic growth. 

    Our mission to grow our economy is about raising living standards in every single part of the United Kingdom.  

    Manchester is home to the UK’s fastest growing tech sector.  

    Leeds is one of the largest financial services centres outside of London.  

    These great northern cities have so much potential and promise… 

    …which our brilliant metro mayors, Andy Burnham and Tracy Brabin, are working hard to realise…  

    … just like our other metro mayors are doing to deliver new opportunities in their areas.  

    And there is so much more that government can do to support our city regions.    

    To achieve this requires greater focus on two key areas: infrastructure and investment.  

    If we can improve connectivity between towns and cities across the North of England, we can unlock their true growth potential… 

    … by making it easier for people to live, travel and work across the area.  

    At the Budget, I set out funding for the Transpennine Route Upgrade… 

    … a multi-billion-pound programme of improvements that will connect towns and cities from Manchester to York via Stalybridge, Leeds and Huddersfield. 

    We are delivering railway schemes to improve journeys for people across the North… 

    … including upgrades at Bradford Forster Square and by electrifying the Wigan-Bolton line. 

    We have committed to supporting the delivery of a new mass transit system in West Yorkshire.  

    And in Spring, we will publish the Spending Review and a 10-Year Infrastructure Strategy… 

    … which will set out further detail of our plans for infrastructure right across the UK. 

    New transport infrastructure can also act as a catalyst for new housing. 

    We have already seen the benefits that unlocking untapped land around stations can deliver in places like Stockport… 

    … where joint work spearheaded by Andy Burnham and council leaders has delivered new housing and wider commercial opportunities. 

    We will introduce a new approach to planning decisions on land around stations, changing the default answer to yes. 

    We are working with the devolved governments to ensure the benefits of growth can be felt across Scotland, Wales and Northern Ireland… 

    … including by partnering with them on the Industrial Strategy to support their considerable sectoral strengths. 

    And in December, I met with Metro Mayors from across England.  

    They told me that more opportunities for investment are vital if their local economies are to grow in the years ahead. 

    We are listening closely to them. 

    As the Metro Mayor of Liverpool, Steve Rotherham, has called for… 

    … we will review the Green Book and how it is being used to provide objective, transparent advice on public investment across the country, including outside London and the Southeast.  

    This means that investment in all regions is given a fair hearing by the Treasury that I lead. 

    The Office for Investment is going to be working hand in hand with local areas… 

    … to develop a commercially attractive pipeline of investment opportunities for a global audience… 

    … starting with the Liverpool City Region and the North East Combined Authority, led by Kim McGuinness. 

    The National Wealth Fund is establishing strategic partnerships to provide deeper, more focused support for city regions, starting in Glasgow, West Yorkshire, the West Midlands, and Greater Manchester. 

    We are supporting key investment opportunities across the UK. 

    The government is backing Andy Burnham’s plans for the redevelopment of Old Trafford, which promises to create new housing and commercial development around a new stadium… 

    … to drive regeneration and growth in the area. 

    We are moving forward with the Wrexham and Flintshire Investment Zone… 

    … focusing on the area’s strengths in advanced manufacturing… 

    … backed by major businesses like Airbus and JCB… 

    … to leverage £1 billion of private investment in the next ten years… 

    … creating up to 6,000 jobs. 

    [redacted political content]

    So I can announce today that we will work with Doncaster Council and the Mayor of South Yorkshire, Oliver Coppard… 

    … to support their efforts to recreate South Yorkshire Airport City as a thriving regional airport.  

    And finally, I am pleased to announce a partnership between Prologis and Manchester Airport Group in the East Midlands, where the Metro Mayor Claire Ward is doing an excellent job growing the local economy there. 

    Prologis and MAG will work together to build a new advanced manufacturing and logistics park at East Midlands Airport … 

    … unlocking up to £1 billion of investment and 2,000 jobs at the site… 

    … a major investment from a global business into our country… 

    … representing a huge vote of confidence in the East Midlands and in the UK. 

    This is just the start of our work to get more investment into every nation and region of Britain. 

    Next, I want to set out further detail for plans for the area we are in today.  

    Oxford and Cambridge offer huge potential for our nation’s growth prospects. 

    Only 66 miles apart… 

    … these cities are home to two of the best universities in the world… 

    … and the area is a hub for globally renowned science and technology firms. 

    This area has the potential to be Europe’s Silicon Valley.  

    To make that a reality, we need a systematic approach to attract businesses to come here and to grow here. 

    At the moment, it takes over two and a half hours to travel between Oxford and Cambridge by train.  

    There is no way to commute directly by rail from places like Bedford and Milton Keynes to Cambridge. 

    And there is a lack of affordable housing right across the region.  

    In other words, the demand is there… 

    … but there are far too many supply side constraints on economic growth here.  

    We are going to fix that.  

    The Ox Cam arc was initially launched in 2003 – over 20 years ago.  

    [redacted political content]

    We are not prepared to miss out on the opportunities here any longer.  

    So working with the Deputy Prime Minister… 

    … who is already driving forward vital work in the region…  

    … we are going further and faster to unlock the potential of the Oxford-Cambridge Growth Corridor.   

    First, we are funding the transport links needed to make the Oxford Cambridge growth corridor a success… 

    … including East-West Rail, with new services between Oxford and Milton Keynes starting this year… 

    … and road upgrades to reduce journey times between Milton Keynes and Cambridge. 

    East West Rail will also support vibrant new and expanded communities along the route. 

    We have already received proposals for New Towns along the new railway… 

    … with 18 submissions for sizeable new developments. 

    At Tempsford – the nexus of the East Coast Mainline, the A1 and East West Rail… 

    …we will move quicker to deliver a mainline station, meaning journey times to London of under an hour…  

    … and to Cambridge in under 30 minutes when East West Rail is operational. 

     Second, we are ensuring that the area has the right infrastructure and public services in place to support the growth corridor as it expands. 

    A new Cambridge Cancer Research Hospital is being prioritised for investment as part of wave 1 of the New Hospital Programme.  

    Water infrastructure has also been a major hindrance to development. 

    So we have now agreed water resources management plans, unlocking £7.9 billion of investment in the next 5 years…  

    …including plans for the new Fens Reservoir serving Cambridge and the South East Strategic Reservoir near Oxford.  

    And I can confirm today that the Environment Agency have now lifted their objections to new development in Cambridge, following this government’s intervention to address water scarcity… 

    … which means 4,500 additional homes, new schools, and new office, retail and laboratory space can be built.  

    Third, I am delighted that Cambridge University have come forward with plans for a new flagship innovation hub at the centre of Cambridge… 

    … to attract global investment and foster a community that catalyses innovation, as other cities around the world like Boston and Paris have done.  

    Just yesterday, Moderna completed the build for their new vaccine production and R&D site in Harwell, right here in Oxfordshire, alongside a commitment to invest a further £1 billion in the UK.  

    And we are creating a new AI Growth Zone in Culham to speed up planning approvals for the rapid build-out of data centres.  

    And finally, to take this project forward at real pace… 

    … and catalyse private sector investment into the region… 

    … I am pleased to announce that the Deputy Prime Minister and I have asked Lord Patrick Vallance to be the champion for the Oxford Cambridge Growth Corridor.  

    Lord Vallance has extensive experience across the sciences, academia, and government. 

    He will work with local leaders and with the Housing and Planning Minister to deliver this exciting project… 

    … including with Peter Freeman, who is already doing excellent work in Cambridge… 

    … and a new Growth Commission for Oxford, which will help to accelerate growth in the city and its surrounding area.   

    This is the government’s modern Industrial Strategy in action. 

    With central government, local leaders and business working together… 

    … the Oxford and Cambridge Growth Corridor could add up to £78 billion to the UK economy by 2035 … 

    … driving investment, innovation and growth. 

    Finally, I come to the decision that perhaps more than any other… 

    … has been delayed… 

    … has been avoided… 

    … has been ducked. 

    The question of whether to give Heathrow … 

    … our only hub airport… 

    … a third runway… 

    … has run on for decades. 

    The last full length runway in Britain was built in the 1940s. 

    No progress in eighty years.  

    Why is this so damaging?  

    It’s because Heathrow is at the heart of the UK’s openness as a country.   

    It connects us to emerging markets all over the world, opening up new opportunities for growth. 

    Around three-quarters of all long-haul flights in the UK go from Heathrow. 

    Over 60% of UK air freight comes through Heathrow. 

    And about 15 million business travellers used Heathrow in 2023. 

    But for decades, its growth has been constrained.  

    Successive studies have shown that this really matters for our economy. 

    According to the most recent study from Frontier Economics, a third runway could increase potential GDP by 0.43% by 2050. 

    Over half – 60% of that boost, would go to areas outside London and the South-East. 

    … increasing trade opportunities for products like Scotch whiskey and Scottish salmon – already two of the biggest British exports out of Heathrow.  

    And a third runway could create over 100,000 jobs. 

    For international investors, persistent delays have cast doubt about our seriousness towards improving our economic prospects. 

    Business groups, like the CBI, the Federation of Small Businesses and the Chambers of Commerce right across the UK… 

    …as well trade unions like GMB and Unite are clear… 

    … a third runway is badly needed. 

    In 2018, the previous government steered its Airports National Policy Statement through parliament.  

    But no action was taken. 

    It simply sat on the shelf. 

    We are taking a totally different approach to airport expansion.  

    This Government has already given its support to expansion at City Airport and at Stansted.  

    And there are two live decisions on Luton and Gatwick which will be made by the Transport Secretary shortly.  

    But as our only hub airport, Heathrow is in a unique position – and we cannot duck the decision any longer.   

    I have always been clear that a third runway at Heathrow would unlock further growth… 

    … boost investment… 

    … increase exports… 

    … and make the UK more open and more connected.   

    And now, the case is stronger than ever… 

    … because our reforms to the economy… 

    … like speeding up the planning system… 

    … and our plans for modernised UK airspace…  

    … mean the delivery of this project is set up for success.  

    So I can confirm today that this Government supports a third runway at Heathrow… 

    … and is inviting proposals to be brought forward by the summer.  

    We will then take forward a full assessment through the Airport National Policy Statement. 

    That will ensure that the project is value for money – and our clear expectation is that any associated surface transport costs will be financed through private funding. 

    And it will ensure that a third runway is delivered in line with our legal, environmental and climate obligations.  

    Heathrow themselves are clear that their proposal for expansion will meet strict rules on noise, air quality and carbon emissions. 

    And we are already making great strides in transitioning to cleaner and greener aviation.  

    Sustainable Aviation Fuel reduces CO2 emissions compared to fossil fuel by around 70%. 

    At the start of this month, the Sustainable Aviation Fuel mandate became law.  

    And today I can announce that we are investing £63 million into the Advanced Fuels Fund over the next year… 

    … and we have today set out the details of how we will deliver a Revenue Certainty Mechanism to encourage investment into this growing industry. 

    These measures will encourage more investors to back production in the UK, bringing good, high-skilled jobs to areas like Teesside… 

    … demonstrating that investment in the right technology can help us deliver both our growth and our clean energy missions. 

    Now is the moment to grasp the opportunity in front of us. 

    By backing a third runway at Heathrow, we can make Britain the world’s best connected place to do business. 

    That is what it takes to make bold decisions in the national interest. 

    That is what I mean by going further and faster to kickstart economic growth. 

    The work of change has begun.  

    We have already made great progress.  

    But I am not satisfied.  

    And I know that there is more to be done.  

    We must go further and faster if we are to build a brighter future.  

    The prize on offer is immense.  

    The next generation with more opportunities than the last. 

    An engineer in Teesside, working in some of the most exciting industries of the future – from carbon capture to sustainable aviation fuel. 

    A scientist in Milton Keynes or Bedford, working in our life sciences industry to solve some of the most important medical challenges in the world.  

    A small business owner in Scotland, knowing that they can expand and export to new markets right across the globe.   

    Wealth created, and wealth shared, in every part of Britain.    

    This is a Government on the side of working people. 

    Taking the right decisions to secure their future, to secure our future. 

    Stepping up to the challenges we face. 

    Ending the era of low expectations. 

    Putting Britain on a different path. 

    Delivering for the British people. 

    And I am determined, this Government is determined, to do just that.  

    Thank you.

    Updates to this page

    Published 29 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Written question – Approval of State aid for Solar Package I – E-000231/2025

    Source: European Parliament

    Question for written answer  E-000231/2025
    to the Commission
    Rule 144
    Christine Schneider (PPE)

    Solar Package I entered into force in Germany on 16 May 2024. Some aspects still require Commission approval under State aid rules, however. Those aspects include: increasing the maximum bid amounts for ground-mounted solar power plants; improvements to repower roof-mounted photovoltaic systems; higher remuneration in the commercial rooftop segment; and the sub-segment for special solar power plants, such as those installed on farms, in car parks and in swampland or floating solar power plants. The pending State aid approval creates uncertainty for solar plant operators that would like to either invest in solar plants or are reliant on that approval and higher feed-in tariffs for their operations to be cost effective.

    • 1.What is the current state of play of State aid approval for Solar Package I?
    • 2.When does the Commission plan to approve the State aid and what is behind the current delays?
    • 3.What measures does the Commission plan to take to ensure expansion of solar panel installation does not grind to a halt and make sure operators of solar power plants are not put at a financial disadvantage, especially where plants cannot start operating as a result of uncertainty surrounding approval?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – European Commission interference in the annulment of the Romanian presidential elections – E-000200/2025

    Source: European Parliament

    Question for written answer  E-000200/2025
    to the Commission
    Rule 144
    Georgiana Teodorescu (ECR), Adrian-George Axinia (ECR), Gheorghe Piperea (ECR), Claudiu-Richard Târziu (ECR), Şerban Dimitrie Sturdza (ECR)

    In an interview with the RMC channel on 10 January 2025, former European Commissioner Thierry Breton stated: ‘Let’s enforce our laws in Europe when they are at risk being circumvented and when they could, if not enforced, lead to interference. We did it in Romania, and we will obviously do it if necessary in Germany’, when asked about possible external interference, especially by Elon Musk.

    The French politician’s statements cast doubt on the European Union’s position on democratic principles and its respect for the sovereignty of the Member States, especially in the context of the recent elections in Romania and the implications for future electoral processes throughout the Union.

    Given that a former European Commissioner made this statement, we ask the following questions:

    • 1.What specifically does the European Commission’s involvement in national elections in a Member State consist of?
    • 2.What are the reasons why ‘the law was enforced’ and the presidential elections in Romania were annulled?

    Submitted: 17.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News –

  • MIL-OSI Security: Criminals smuggling 1.5 billion untaxed cigarettes stopped

    Source: Eurojust

    The investigation into the smuggling group started in May 2020, when three containers arrived in Belgium filled with undeclared cigarettes instead of the supposed construction material destined for Germany. The group tried to avoid suspicion by filling one of the three containers with the declared goods and presenting it correctly to customs. The building materials would then be loaded into the second and third containers to get them through customs. The smuggling did not go unnoticed as customs officers discovered that the containers were filled with undeclared cigarettes.

    With the support of the European Anti-Fraud Office, Belgian and German customs launched a cross-border investigation into the criminal group. They discovered that the same method had been used to smuggle over 150 containers filled with cigarettes into the EU. During the investigation, customs authorities also learned that the group was now also unloading cigarettes at warehouses in the Netherlands. The Dutch customs authorities joined the international investigation to take down the smuggling operation.

    The cigarettes were manufactured in Türkiye and Iran, then exported to ports worldwide, reloaded and brought into EU ports using forged sea freight documents. The criminal group is suspected of smuggling 150 containers into the EU. The fiscal loss of the smuggling scheme is estimated at EUR 550 million.

    The four-year long investigation culminated in an action day coordinated from Eurojust’s headquarters in The Hague. Authorities executed arrest warrants in three countries, leading to two arrests in Belgium, one in the Netherlands and seven in Germany. Seventeen locations and one vehicle were searched where authorities seized multiple phones laptops and paper documents.

    The following authorities carried out the operations:

    • Germany: Public Prosecutor’s Office Bielefeld; Customs Investigation Office Hanover
    • Belgium: Public Prosecution Office Namur; Public Prosecution Office Charleroi; Federal Police Namur; Federal Police Charleroi; Belgian Customs Authorities
    • The Netherlands: National Public Prosecutors Office for Economic and Environmental Crimes; Fiscal Intelligence and Investigation Service
    • European Anti-Fraud Office (OLAF)

    MIL Security OSI –

  • MIL-OSI United Kingdom: Manchester firm which targeted Germans with fake prepaid card scam is shut down

    Source: United Kingdom – Executive Government & Departments

    Advantia Card Limited was subject to a winding-up order following more than 190 complaints from members of the public in Germany

    • Advantia Card Ltd, registered in the UK, scammed customers in Germany using fake prepaid cards. 
    • The company sent the cards to customers against their wishes then demanded payment through a debt collection agency.  
    • Advantia was shut down at a winding-up hearing at London’s High Court.  

    A Manchester firm which sent out fake prepaid cards to people in Germany then demanded repayments has been shut down following an investigation by the Insolvency Service. 

    Advantia Card Ltd, which was registered at an address in Moston Lane Manchester, sent prepaid cards to people in Germany against their wishes – including a 12-year-old boy. 

    The company was subject to a winding-up order following more than 190 complaints from members of the public in Germany. 

    Investigations in the UK and Germany discovered the company issued fake prepaid cards and filed false accounts. 

    Some customers were subject to cold calls and received a prepaid card without their agreement, while others agreed to receive one after being told there would be no costs involved.  

    Advantia Card Ltd then employed a debt collection agency to make high-pressure calls to customers – in some cases demanding a 400 Euro payment for the provision of the prepaid card.  

    The company was shut down on 28 January 2025 after a hearing at the High Court in London. 

    Insolvency Service Chief Investigator Mark George said:  

    This was clearly a company with no intention of operating legitimately and with the sole intention of defrauding and distressing its customers. 

    Shutting down Advantia Card Ltd is a significant step in protecting the public – both here and in Germany – from suffering as a result of their fake prepaid cards.

    The Insolvency Service collaborated with the Federation of German Consumer Organisations (FGCO) – the equivalent of Trading Standards in the UK – to investigate Advantia Card Ltd, after they received more than 190 complaints from members of the public in Germany.  

    One of the complaints included a 12-year-old boy who clicked a link for a prepaid card offer through an Instagram advert. No proof of age was taken, and he did not sign any contract. 

    It was also found that Advantia Card Ltd filed false or misleading accounts with Companies House, having declared the company dormant from April 2022 to April 2023 when the FGCO investigation showed the company was active from at least 2021 to 2023. 

    The company did not cooperate with the investigation, did not defend the winding up and was not represented at the hearing.  

    All enquiries concerning the affairs of the company should be made to the Official Receiver of the Public Interest Unit: 16th Floor, 1 Westfield Avenue, Stratford, London, E20 1HZ. Email: piu.or@insolvency.gov.uk.   

    Further information 

    Updates to this page

    Published 29 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Coventry honours Holocaust Memorial Day and marks the 80th anniversary of the liberation of Auschwitz-Birkenau

    Source: City of Coventry

    The people of Coventry came together this week (27 January) to honour the annual Holocaust Memorial Day, which this year fell on the 80th anniversary of the liberation of Auschwitz-Birkenau.

    The event was held at the Belgrade Theatre, and a large audience heard from city leaders and guest speakers, as well as schoolchildren and students from the city. 
     
    Cllr Abdul Salam Khan, Deputy Leader of Coventry City Council, hosted the service, with speeches from Lord Mayor, Cllr Mal Mutton and Council Chief Executive, Julie Nugent.  
     
    The main speaker was Lesley Urbach, from Generation 2 Generation, a Holocaust education charity, who told the story of her mother Eva Urbach and aunt Ulli Adler, who escaped to Britain and Argentina in 1938 and 1939.  
     
    The talk focused on what happened to their parents left behind in Germany, who were murdered at Auschwitz. 
     
    There was also a performance by actors from Time Will Tell Theatre, who enacted first-hand accounts of the liberation of Bergen-Belsen, which will also mark its 80th anniversary this year. 
     
    The audience also heard music from Coventry Music Brass Quintet and Bluecoat School Choir, readings from students from the University of Warwick, and pupils from Cardinal Newman Catholic School talked about their personal experiences of conflict and the importance of learning about the Holocaust. 
     
    A candle was lit as the city remembered the victims of the Holocaust and other genocides including Cambodia, Rwanda, Bosnia, Darfur, Afghanistan and Syria. 

    This year’s theme was ‘For a Better Future’, and Cllr Khan told the audience: “It is something our city works for continually, both here at home, and around the world, and it is a call for action that we can all be a part of. 

    “There are many things we can do to create a better future. We can speak out and stand up for others and we can challenge prejudice. We can learn from our past and from the Holocaust, genocides, and wars, and we can tell our stories and remember those we have lost to hatred and prejudice – as we do today. 
     
    “If we can all leave here with the determination to take one action or change one thing, then together, we can make a difference and help to build that better future.” 
     

    To learn more about HMD, visit the website. 

    Wednesday, 29th January 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Bitwise Rebrands European ETPs, Looks to Reinforce Position as Market Leader in Pivotal Year for Crypto

    Source: GlobeNewswire (MIL-OSI)

    • Rebrands European product suite after strong 2024: Bitwise surpassed $12 billion in client assets, launched new products such as Solana and Aptos Staking ETPs
    • TER of the Bitwise Core Bitcoin ETP (BTC1) lowered to 0.20% p.a.
    • Crypto poised to soar in 2025: Bitwise research forecasts record valuations and inflows in crypto markets this year amid reduced regulatory risk
    • Continued innovation: Bitwise looks to cement position as market leader by providing new best-in-class products, broadening access to crypto for investors

    January 29, 2025. Frankfurt, Germany: Bitwise today announced the company has completed the rebranding of all ETPs in its European product suite following last year’s acquisition of ETC Group. The move comes as Bitwise looks to expand its position as a market leader in crypto markets in 2025, a year in which a number of structural upward trends are likely to bolster crypto markets.

    Among the renamed products are the Bitwise Core Bitcoin ETP (BTC1), the Bitwise Ethereum Staking ETP (ET32), the Bitwise MSCI Digital Assets Select 20 ETP (DA20), and the company’s flagship product: – the Bitwise Physical Bitcoin ETP (BTCE). Launched in 2020, BTCE is the most heavily traded bitcoin ETP in Europe. For an overview of all products with their rebranded names, please refer to the table below.

    Bitwise will continue to broaden crypto access for investors, provide best-in-class innovative products, timely insights on the latest market developments, and champion transparency and accountability in a landmark year for the crypto industry.

    Hunter Horsley, CEO and Co-Founder of Bitwise: “We expect 2025 will be a pivotal year for crypto, with Bitcoin, Ethereum, and Solana each hitting record highs, and a more crypto-friendly environment in Washington bringing welcome clarity to the space. Bitwise is looking forward to using this moment to reinforce our position as a market leader both in the U.S. and Europe.”

    Bitwise saw significant growth in 2024, a year in which Bitcoin soared to an all-time high of $103,992 after the record-setting launch of spot bitcoin ETFs in the U.S. The company crossed over $12 billion in client assets, using its momentum to launch new institutional-grade crypto staking ETPs, namely the recently launched Bitwise Solana Staking ETP, and the Bitwise Aptos Staking ETP, in addition to filing a Form S-1 for an XRP spot ETF in the U.S. The company’s Bitwise Core Bitcoin ETP (BTC1 | DE000A4AER62), an institutionally focused and cost-efficient Bitcoin ETP with a Total Expense Ratio (TER) of 0.20%, is also experiencing increased popularity among investors.

    Another highlight of 2024 for Bitwise was the launch of Bitwise Onchain Solutions after the company’s acquisition of Attestant Limited, an institutional-grade Ethereum staking provider with $3.7 billion in staked assets at the time of the acquisition.

    Crypto poised to soar in 2025

    In 2025, adoption of bitcoin and other crypto assets by corporate treasurers are set to be another major driver supporting the asset class, Bitwise Head of Research Europe Dr Andre Dragosch said in a study this month. At the moment, companies hold only 4% of the total available Bitcoin supply, a number that already doubled last year. With total free cash flow between S&P 500 companies standing at $1.5 trillion – more than twice the capital ever invested in Bitcoin – this offers an unprecedented growth opportunity.

    Bitwise will continue to position itself as a thought leader with studies like the above and several others, providing a rich stream of research and market analysis for investors. This research is available through blog posts on the Bitwise website, such as on this link and here.

    The following table shows Bitwise’s renamed European Crypto ETP suite:

    The complete list of Bitwise European ETP products, including all stock exchange listings and trading information, is available at https://bitwiseinvestments.com/eu.

    About Bitwise

    Bitwise is one of the world’s leading crypto specialist asset managers. Thousands of financial advisors, family offices, and institutional investors across the globe have partnered with us to understand and access the opportunities in crypto. Since 2017, Bitwise has established a track record of excellence managing a broad suite of index and active solutions across ETPs, separately managed accounts, private funds, and hedge fund strategies – spanning both the U.S. and Europe.

    In Europe, for the past four years Bitwise (formerly ETC Group) has developed an extensive and innovative suite of crypto ETPs, including Europe’s most traded bitcoin ETP, or the first diversified Crypto Basket ETP replicating an MSCI digital assets index.

    This family of crypto ETPs is domiciled in Germany and approved by BaFin. We exclusively partner with reputable entities from the traditional financial industry, ensuring that 100% of the assets are securely stored offline (cold storage) through regulated custodians.

    Our European products comprise a collection of carefully designed financial instruments that seamlessly integrate into any professional portfolio, providing comprehensive exposure to crypto as an asset class. Access is straightforward via major European stock exchanges, with primary listings on Xetra, the most liquid exchange for ETF trading in Europe. Retail investors benefit from easy access through numerous DIY/online brokers, coupled with our robust and secure physical ETP structure, which includes a redemption feature. For more information, visit www.bitwiseinvestments.com/eu

    Media contacts:

    JEA Associates
    John McLeod
    00 44 7886 920436
    john@jeaassociates.com

    Important information
    This press release does not constitute investment advice, nor does it constitute an offer or solicitation to buy financial products. This press release is issued by Bitwise Europe GmbH (“BEU”), a limited company domiciled in Germany, for information only and in accordance with all applicable laws and regulations. BEU gives no explicit or implicit assurance or guarantee regarding the fairness, accuracy, completeness, or correctness of this article or the opinions contained therein. It is advised not to rely on the fairness, accuracy, completeness, or correctness of this article or the opinions contained therein. Please note that this article is neither investment advice nor an offer or solicitation to acquire financial products or cryptocurrencies.

    Before investing in crypto Exchange Traded Products (“ETPs”), potential investors should consider the following:
    Potential investors should seek independent advice and consider relevant information contained in the base prospectus and the final terms for the ETPs, especially the risk factors. ETPs issued by BEU are suitable only for persons experienced in investing in cryptocurrencies and risks of investing can be found in the prospectus and final terms available on www.bitwiseinvestments.com./eu. The invested capital is at risk, and losses up to the amount invested are possible. ETPs backed by cryptocurrencies are highly volatile assets and performance is unpredictable. Past performance is not a reliable indicator of future performance. The market price of ETPs will vary and they do not offer a fixed income or match precisely the performance of the underlying cryptocurrency. Investing in ETPs involves numerous risks including general market risks relating to underlying, adverse price movements, currency, liquidity, operational, legal and regulatory risks.

    The MIL Network –

  • MIL-OSI China: Tesla suing EU over tariffs on China-made EVs

    Source: China State Council Information Office

    United States electric vehicle, or EV, maker Tesla is challenging the European Union’s decision to slap hefty import tariffs on China-made electric autos.

    The legal action by the company, which is owned by technology guru Elon Musk, is similar to court challenges launched last week by German automaker BMW and Chinese carmakers, including BYD Auto, SAIC Motor, and Geely. Chinese industry body the China Chamber of Commerce for Import and Export of Machinery and Electronic Products has also launched a legal challenge in the EU’s courts. And China’s government has filed a complaint about the bloc’s tariffs with the World Trade Organization.

    The European Court of Justice confirmed Tesla’s legal challenge on Monday.

    Olof Gill, the EU’s trade spokesperson, told Agence France-Presse: “We take note of these cases and we look forward to defending ourselves in court as necessary.”

    Tesla’s legal challenge is in response to the EU introducing tariffs at the end of October of 7.8 percent on Tesla’s China-made vehicles. The bloc has also set tariffs of up to 35.3 percent on other China-made EVs. The new tariffs come on top of a 10 percent standard import tariff that was already in place for electric vehicle imports into the EU.

    The bloc said it introduced the China-specific tariffs in response to what it says are unfair subsidies that include low-interest loans, cheap land, and supplier discounts, claims China has strongly denied.

    Tesla’s legal challenge will be heard in the EU’s General Court. Any verdict handed down there could then be challenged in the European Court of Justice.

    The court case comes against the backdrop of deteriorating relations between the EU and Musk, who is the world’s richest individual.

    Musk, who owns the social media platform X, has spoken out strongly against the bloc’s efforts to regulate internet activity. He has also angered the EU by throwing his support behind far-right political parties, including Germany’s Alternative for Germany.

    Critics have said Musk’s political activism may have contributed to Tesla’s recent decline in Europe, with the brand seeing its sales fall by 13 percent, year-on-year, in 2024, to 242,945 units, according to the European Automobile Manufacturers Association. Around 28 percent of Chinese-made electric automobiles imported into the EU in 2023 were Teslas.

    Around one-fifth of all electric cars sold in the EU – some 300,000 units – are made in China.

    The court case is likely to take around 18 months to complete.

    Tesla has also called on the Canadian government to scrap its 100 percent tariff on electric cars imported from China.

    MIL OSI China News –

  • MIL-OSI Banking: Cannabis users’ consumption behavior and product choices are different from other consumers, presenting a key knowledge gap for food and beverages brand strategy, according to new GlobalData study

    Source: GlobalData

    The study looks at how the use of cannabis is impacting consumption in key food and beverage categories in key markets.

    GlobalData’s new “Hot Topics” cannabis study on the claimed consumption behavior of cannabis users compared to non-users highlights that this is a large and growing consumer group, who are behaving differently to the general population, in ways that brand owners and their stakeholders may not fully realise.

    Jenny Questier, Consumer Analysis Director at GlobalData, commented: “Currently, there is little research data or analysis available to help companies understand the impact of a new cohort of cannabis users in consumer packaged goods markets where the drug has been legalized. While this study’s findings are indicative, they could apply to any market where cannabis use is prevalent as they do provide some useful insights into the impact that cannabis users consumption behavior could have on product choices being made in key food and beverage categories and which demographics are important in future product development and positioning.”

    The study entitled, “Hot Topics Report: Impact of cannabis use on consumption in key markets”, provides a top-line indication of how consumers who claim to use cannabis, describe their use of the drug in five key markets which have legalized the recreational use of the cannabis, namely: the US, South Africa, Canada, Mexico and Germany, and the claimed impact this may have on consumer consumption in the alcoholic drinks, non-alcoholic drinks, savory snacks, and chocolate and confectionary categories in each of these markets.

    The study reveals that cannabis users have a tendency to stay at home more, are more concerned about their physical and mental health, spend more time online, and perhaps as a consequence of this, order more food online, when compared to non-cannabis users. Interestingly, the known side effects of cannabis use of increasing hunger and thirst are significantly impacting on consumers’ net consumption of non-alcoholic beverages, savory snacks and chocolate and confectionary, however, the drug’s use currently seems to have a limited impact on alcohol consumption overall.

    This is an important cohort for consumer packaged goods companies because the number of recreational cannabis users is already significant and is set to grow further. In the US, cannabis is legal for recreational use in 24 out of 50 states, according to the *Pew Research Centre. In the US, there were an estimated 17.7 million daily cannabis users recorded in 2022, according to research published in the journal Addiction, based on data collected by the National Survey on Drug Use and Health.

    Questier continued, “In the coming decade, the number of cannabis users is set to grow globally as more US states are likely to legalize recreational cannabis use, public support may lead more countries to do the same, and more people are likely to take up the habit as a means of relaxation, enjoyment, and for perceived health benefits. It is imperative that brands and manufacturers of food and beverages understand what this may mean for future innovation and target consumer groups.”

    Here are some of the top-line indicative findings from the study for each food and beverages category surveyed in each market:

    Alcoholic and Non-alcoholic Drinks

    Cannabis use does not appear to have a significant impact on alcoholic drinks sales!

    Claimed alcohol consumption remains largely unchanged overall as a result of cannabis use, generally holding steady at a plus or minus 1% net change in most markets. Canada and Mexico have a small net decline in alcohol consumption with Germany’s high +10% net change attributed to a smaller sample size as cannabis has only recently been legalized in the country, and reported use remains relatively low.

    An assumption that alcohol sales overall might suffer from the increased use of cheaper cannabis products as the stimulant effects are similar is not evident from this study. However, that’s not to say that the alcoholic drinks market isn’t changing; female cannabis users are drinking less alcohol, but males are drinking more.

    Cannabis use makes you thirsty for non-alcoholic drinks!

    All markets in this study saw a significant rise in the consumption of non-alcoholic drinks by cannabis users. In some markets, this rise occurred among all demographics, in other markets younger consumers dominated.

    Savory Snacks and Chocolate & Confectionary

    Cannabis use gives you the munchies, boosting savory snacks sales!

    All markets saw a rise in savory snack consumption due to cannabis use; North American markets had particularly large rises. Unlike beverages, Gen Z do not dominate savory snack sales, instead it is older Gen Y and Gen X consumers.

    Cannabis use gives you a sweet tooth, increasing chocolate & confectionery sales!

    Cannabis use drives a significant rise in chocolate and confectionery consumption in most markets, although the demographic leading this varies from market to market.

    Questier adds: “The top-line results from this indicative study show that cannabis users’ consumption behavior is different from other consumers. Consumption of soft drinks, savory snacks and chocolate and confectionery is significantly increased, with the balance between male and female, and young and old consumers shifting in each market. Whilst there is limited claimed impact from cannabis users on total alcohol consumption, the demographic make-up of this market is nevertheless changed by the presence of cannabis.

    “With little research conducted into this area to date, the study’s indicative findings suggest that the implications of cannabis use for consumer packaged goods companies and their stakeholders could be significant for brand strategy, consumer targeting, portfolio management, innovation, sales, advertising, and marketing. Further research by brand, category, and geography could be required to ensure that these implications are understood and appropriate strategies devised to manage them.”

    Free sample pages from the “Hot Topics Report: Impact of cannabis use on consumption in key markets”, are available here

    * Source: Pew Research Centre: here

    GlobalData Consumer Custom Solutions offers sector-level expertise in the Consumer Packaged Goods, Food, Beverages, Foodservice, Retail, Apparel, Packaging, Agribusiness, and Automotive industries. We use our unique data, insights and analytics to answer your bespoke questions with a tailored approach and deliverables.​ To learn more about this press release or have a chat, please drop us an email consulting@globaldata.com or contact us here and we’ll get in touch!

    MIL OSI Global Banks –

  • MIL-OSI Australia: Press conference, Commonwealth Parliament Offices, Melbourne

    Source: Australian Treasurer

    Jim Chalmers:

    Headline inflation is now in the mid‑twos and underlying inflation is in the low‑threes. These numbers are better than expected and better than forecasts. What they show is we are making very meaningful, very substantial, and now sustained progress in the fight against inflation. It means that headline inflation is now at an almost four‑year low, and now sits in the middle of the Reserve Bank’s target band, and underlying inflation is now at its lowest in 3 years. These are very welcome developments.

    We don’t pretend that it’s mission accomplished on inflation, but we are making very substantial progress. On every measure, we have now made substantial and sustained progress in this fight against inflation. Inflation was much higher and rising fast under the Liberals when we came to office, and we’ve been able to get on top of this inflation challenge and to get it down in a very meaningful way. Inflation is now almost a third of the 6.1 per cent that we inherited when we came to office.

    Now, if you look at the numbers, headline inflation was just 0.2 per cent in the December quarter. That makes it 2.4 per cent higher through the year, which is around a quarter of its peak, and in the bottom half of the Reserve Bank’s target band. It means our headline inflation is now lower than most major advanced economies, including the US, the UK, and Germany. And if you look at the underlying measure, the trimmed mean measure, it was 3.2 per cent through the year to the December quarter, down from a revised 3.6 per cent. If you look at the trimmed mean number in the quarter, it almost halved. It’s now 0.5 per cent and that makes it around a third of what it was at the time of the election.

    If you look at the big drivers of this moderation in inflation, the big drivers were construction costs, rents, and insurance, and that, I think, is quite an encouraging sign that inflation is moderating more quickly than anticipated, even as recently as the forecast that we released in December. These numbers are better than the market expected, and they are lower than the forecasts for inflation, and both of those developments are very welcome.

    Australians collectively can be really proud of the combination of developments that we have seen in our economy in recent times. Inflation is down, wages are up, unemployment is low, and 1.1 million jobs have been created during the course of this Albanese Labor government. Now the soft landing that we have been planning for and preparing for is now looking more and more likely.

    Many countries around the world have paid for this kind of progress on inflation with much higher unemployment, or with negative quarters of economic growth. What Australians have been able to achieve is an economy where growth has continued to tick over, albeit slowly, where unemployment has stayed incredibly low, jobs are being created, wages are up, but inflation is down considerably and we see that in the numbers again today.

    Our cost‑of‑living pressures aren’t disappearing, but they are easing. We know that the fight against inflation is not yet over, but these are incredibly encouraging signs that we are getting on top of this challenge in our economy. The worst of the inflation challenge is now well and truly behind us, and that’s one of the reasons why we are confident but not complacent about the economy in the year ahead.

    We know that our political opponents will try and dismiss and diminish what Australians have been able to achieve together in their economy. We know that Australians are doing it tough. We know how important our cost‑of‑living help is, and we know that the best thing we can do, the most important focus that we can maintain is on the cost of living and that is the government’s approach.

    The Albanese Labor government is focused on beating inflation and helping with the cost of living and building Australia’s future. Our political opponents, Peter Dutton and the Coalition, are focused on conflict and culture wars, and they would make people worse off and take Australia backwards.

    If we look at the impact of the cost‑of‑living measures over recent years on the pressures that people face right around Australia, it’s worth reminding people that Peter Dutton did not support cost‑of‑living help for Australians doing it tough. If Peter Dutton had his way, Australians would have been thousands of dollars worse off and they would be worse off still if he wins the election and that’s because when he was the Health Minister, he went after Medicare. Coalition governments want lower wages, not higher wages, and he will push up electricity bills with his nuclear insanity that he has been trying to foist on the Australian people.

    So the choice and the contrast is very clear. The biggest risk to inflation and the cost of living and the economy in 2025 is Peter Dutton and a Coalition government. For our part, the Albanese Labor government is focused on getting inflation down, getting wages up, rolling out this cost‑of‑living relief, keeping unemployment low because that is the best way that we can make a meaningful difference to the cost‑of‑living pressures that we know Australians are still confronting. Happy to take a few questions.

    Journalist:

    You talked about, Treasurer, it not being mission accomplished yet, but started off this press conference pretty smiley, talking about an incredibly positive, optimistic set of numbers. Do you see there being an argument, a legitimate argument not to cut rates at this point? Are there pressure points pushing in the other direction still?

    Chalmers:

    I’m not going to make any sort of commentary which can be confused with giving free advice to the independent Reserve Bank, or making predictions about the decision that they will take when they meet on the [18th] of February. I respect the independence of the Reserve Bank too much to try and make predictions or to give them free advice, or to try and colour in for them the decision that they will make independently and announce towards the middle of February.

    I have always seen our responsibility as a government to be the focus on the areas that we can influence, getting inflation down, getting wages up, keeping unemployment low, those have been our objectives and we leave the decision on interest rates to the independent Reserve Bank.

    We’ve had a lot of free advice over the last couple of years from our political opponents and others, who say that we should have cut much harder or we should have done things differently. What these numbers show is we’ve been able to achieve something that other countries cannot, which is to make this remarkable progress on inflation at the same time as we maintain the gains we’ve made in the labour market and keep the economy ticking over.

    Now, the economic and often the political orthodoxy, and what we’ve seen play out in other countries, is that you have to pay for much lower inflation with much higher unemployment. Australia has shown that there is a better way to go about it and we’re seeing the fruits of some of those efforts in the inflation numbers today.

    Journalist:

    Has the government done everything it can to provide the environment for rates to come down?

    Chalmers:

    We take no outcome for granted when it comes to interest rates, and again, it’s not for me to give free advice to the independent Reserve Bank. I respect their independence. They will weigh up these numbers and other numbers that we’ve seen in the economy since they last met. They will come to a decision and communicate that decision in February, and I’m not going to get in the way of that. I’m not going to predict it or pre‑empt it or give them free advice. I’m focused on my job and my job is to roll out this cost‑of‑living help in the most responsible way, get inflation down and wages up, and keep unemployment low. We are encouraged by the numbers that we have seen today, but we take no outcome on interest rates for granted.

    Journalist:

    Are you relatively comfortable, given how much data that we’ve seen now, that the numbers are in or around the band at a sustainable level, or do you think we might see some bumpiness over the next few months?

    Chalmers:

    I think inevitably when you see the inflation numbers here or in other countries, inflation rarely moderates in a perfectly straight line. For example, inflation in the US is higher than it is in Australia and it’s rising in the US again, and that reminds us, I think helpfully, that inflation doesn’t moderate in a perfectly straight line around the world and that’s been the experience here as well. I think that’s an important thing to remember. But the facts of the matter are laid out by these new numbers today. Headline inflation is now in the bottom half of the Reserve Bank’s target band. Underlying inflation is in the low‑threes, both of those outcomes are better than expected and lower than the official forecasts.

    The Reserve Bank will weigh up all of those considerations, they will come to a decision independently, but I think what we’re seeing here is a reminder that the soft landing that we have been planning for and preparing for is looking more and more likely.

    Journalist:

    Would a rate cut influence the Prime Minister’s thinking around election time, and can you actually commit to doing a budget on March 25? We’ve heard language from your Finance Minister about being a budget update. Can you commit now to doing a Budget on March 25?

    Chalmers:

    We’re working towards a Budget on March 25th.

    Journalist:

    Towards or actually doing one?

    Chalmers:

    The reason I put it like that is because it’s a decision for the Prime Minister. It’s not a decision that I take alone. The Prime Minister takes that decision. Our expectation, and all of our work, is heading towards a March 25 Budget. The reality is that the Prime Minister will make that decision, no doubt he will confer with his colleagues about it, but our expectation is that there will be a Budget on the 25th.

    Journalist:

    Would you like – sorry Treasurer, would you like to do a Budget on March 25 and if so, are you aiming as much as possible to find a third surplus?

    Chalmers:

    There’s 2 parts to that question. I hand down budgets when the Prime Minister asks us to, and we’ve handed down 3 already and the fourth one is due on March 25. I’ve seen speculation about a third surplus, and I would urge caution on that front. We are deliberately cautious and conservative when it comes to budgets. We were in the first 3 and we will be in the fourth. But I think there’s cause for additional caution and conservatism because there hasn’t been anything yet that we have seen which would make us think that there would be a substantial difference to the budget bottom line than what we forecast in December in the mid‑year budget update. I know that there’s speculation to the contrary. I know that there’s a lot of global economic uncertainty which can impact the budget bottom line in both directions, but nothing we’ve seen yet has materially changed our expectations.

    Journalist:

    Is the rate decision on February 17–18 the primary factor in the Prime Minister’s decision around when to go with the election?

    Chalmers:

    I wouldn’t have thought so. I wouldn’t have thought so, but you’d have to ask the Prime Minister. You know, an election is due –

    Journalist:

    Surely he’d know that, though?

    Chalmers:

    Well, you’d have to ask him. An election is due by May, so the election will be on us before long and there will be a number of considerations when it comes to timing, and you will have to – it’s not for me to decide on my own.

    Journalist:

    Would a rate cut be – would you feel that it would be personal vindication for your fiscal strategy in the face of a lot of criticism from the media and other politicians?

    Chalmers:

    First of all, I don’t see it in personal terms. The most important thing here is to see some of the price pain that Australians have endured now since before the last election, that that continues to ease, and that we get inflation down at the same time as we get wages growing again in a more meaningful way and we keep that unemployment rate low. Those are the things that I’m focused on. You asked me about the free advice that we get from time to time. You know, there’s been some very strange commentary, you know, people –

    Journalist:

    Such as?

    Chalmers:

    People saying that there were going to be 3 rate hikes last year and there were none. There hasn’t been a rate hike since November in 2023.

    Journalist:

    Warren Hogan?

    Chalmers:

    Well, he’s not the only one. There’s been a lot of strange commentary, and we get a lot of free advice. One of the things that I’m proudest of is we have maintained a focus on the key elements of a soft landing in our economy – inflation coming down, not sacrificing people’s jobs, keeping the economy ticking over. We’ve still got an economy which is soft, softer than is normal. We’ve still got people under pretty extreme pressure. But the sorts of things that we are preparing for and planning for are now unfolding.

    This very substantial and now sustained moderation in inflation is probably the most important part of that, but to be able to do that, while maintaining unemployment at 4.0 per cent, is a pretty remarkable achievement for which all Australians can share in the credit.

    If you think about if you’d said a few years ago that it would be possible for a government, in this case our government, to maintain average unemployment rates, the lowest of any government in 50 years, at the same time as we get inflation from its peak of 7.8 now down to 2.4, I think Australians can be proud of that progress that has been made, and not because cost‑of‑living pressures have disappeared, but because they are easing at the same time as we satisfy some of these other economic objectives.

    Journalist:

    Should Australian tech companies be concerned about this rise in Chinese AI?

    Chalmers:

    Obviously this is a very fast‑moving and volatile part of the economy. It’s one of the reasons why Ed Husic, to his credit, and other colleagues are putting a lot of time and effort and thought into the appropriate guardrails when it comes to AI. We are forward leaning about AI. We think it can be revolutionary in our economy, that it has the capacity to boost productivity and deliver a whole range of economic gains, but we know that there needs to be guardrails as well.

    If you look at DeepSeek, and what we’ve seen in the last couple of days, which have been some pretty extraordinary developments that the market has reacted to in a pretty remarkable way, the advice that Ed has provided, which I would echo now, is we would urge Australians to be cautious about this new technology.

    Obviously we are constantly receiving advice on it. You wouldn’t expect me to go into all of the detail of that here. But what we try to and what our agencies try to, is to work closely with the sector, the private sector, updating the advice when it’s appropriate.

    Journalist:

    National security advice?

    Chalmers:

    All kinds of advice. When there’s a big development in our economy, particularly when it relates to technology, of course we have a look at it. Of course we monitor it closely. Of course we try and get our head around and understand the consequences for our own industries and our own economy. That’s pretty standard for a diligent government and that’s what we will do in this case.

    Journalist:

    But technology that is refusing to provide information about the Tiananmen Square massacre, not answering question the about the state of Chinese politics, potentially gathering data from Western accounts and feeding it back to the Chinese system, does that trouble you? Before receiving national security advice, does that trouble you at a general level?

    Chalmers:

    I don’t want to engage in a hypothetical or pre‑empt the sorts of discussions that we would have as a government. I’d echo Ed’s very wise advice, and Ed’s very wise advice is to be cautious. From a government point of view, we stay across all these kinds of developments, not just this one, and we provide an updated advice as it’s appropriate.

    Journalist:

    Just one very Victorian question given we’re in Melbourne. Airport Rail, it’s been reported by News Corp there’s $2 billion more on the table for that project. Can you explain why you see that as a city‑shaping project and why the federal government appears to be putting priority on that project rather than the Suburban Rail Loop?

    Chalmers:

    I’m not sure I perfectly share your assessment of it. What we’ve said about those 2 projects is that we consider them to be separate. You know, we don’t see a link between funding for one over the other. And all I would do beyond that is to remind you of what I said on Saturday, which is my wonderful colleague, Catherine King, she’s in discussions with States and Territories all the time about the best combination of projects in the infrastructure pipelines, and that’s the case here as well.

    I would also say that I’m looking forward to spending some time this afternoon with the Victorian Treasurer. I had an opportunity to speak with her by phone already, but we will be catching up this afternoon. No doubt some of these sorts of issues will come up.

    Journalist:

    Do you think –

    Chalmers:

    I’m just conscious that we haven’t really perfectly shared the questions. Do you want to go?

    Journalist:

    I’ve just got one that hasn’t been answered already.

    Chalmers:

    Okay, thanks.

    Journalist:

    Your government’s announced –

    Chalmers:

    These 2 are very selfish, mate.

    Journalist:

    One of your government’s measures is about energy bill relief assistance, you spoke about cost‑of‑living assistance for voters. Can people expect that to continue beyond July this year?

    Chalmers:

    Our focus is on rolling out the cost‑of‑living help that we’ve already announced and that we’ve already budgeted for, including the cost‑of‑living help that comes in the form of those electricity rebates. And if you look at the numbers today, when it comes to electricity prices, they fell in – the year to the December quarter – they fell by 25.2 per cent, and they still would have fallen without the energy rebates and so energy rebates are part of the story but not the whole story. We’ve seen electricity prices fall by more than a quarter in the year to December. They still would have fallen 1.6 per cent without the energy rebates that we’re rolling out in conjunction with the states. What that says is our cost‑of‑living help is helping, but electricity prices would have moderated without it as well.

    Journalist:

    So the help isn’t quite as strong then?

    Chalmers:

    What we do from budget to budget is we consider the pressures that people are under, the budget constraints that we’re dealing with, and the economic conditions, and we come to a decision about what, if any, further cost‑of‑living help is appropriate and affordable and responsible. We did that in our first 3 budgets, and we’ll do that in the fourth.

    Journalist:

    Do you expect Jaclyn Symes is going to ask you for a fairer share of the GST for Victoria?

    Chalmers:

    I don’t know. I think that treasurers in every State and Territory are typically interested in more support from the Commonwealth. That wouldn’t make her unique if she did. But I’m looking forward to a discussion with her. I think she’s going to be a wonderful Treasurer here in Victoria and I try and maintain open lines of communications with all of my State and Territory colleagues, and that’s because I believe you get more done when you work together than when you work at cross‑purposes.

    Journalist:

    Absolute last one from me. There’s some good numbers at the start of inflation, but some really dire numbers in a Deloitte report on living standards and real wages. Do you expect to announce more between now and the election on how you will get the economy to grow, how to get productivity up and living standards up?

    Chalmers:

    Yes. And one of the things that we’ve tried to be very disciplined about is at the same time as we manage these near‑term pressures on people, that we don’t drop the ball when it comes to the longer‑term agenda. The productivity agenda around human capital, the energy transformation, adapting and adopting technology, our competition policy agenda, making our economy more dynamic and more productive, we have maintained a focus on these things throughout. We’ll have more to say between now and the election on those important policy areas.

    I also remind you that I’ve tasked the Productivity Commission with some important work on what the next agenda beyond our current agenda would look like when it comes to boosting productivity in our economy.

    We’ve made it really clear that coming out of these 3 economic shocks in the last 15 years, that in more normal times ideally growth in the economy would be private sector led, that remains my view, and in order for that to be the case, we have all got to work together to make our economy more productive and dynamic and competitive. We have done a bunch of things on that front but there will be more to do.

    Thanks very much.

    MIL OSI News –

  • MIL-OSI Russia: Glavarkhiv published rare documents for the 165th anniversary of Anton Chekhov’s birth

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    To mark the 165th anniversary of Anton Chekhov’s birth, Glavarkhiv opened a new online exhibition, “I’ll Fly to Moscow on Wings…”. Its materials introduce the writer’s life and work in the city. Here Chekhov spent his student years, began his literary work and became famous as a playwright. The exhibition can be viewed in the “Media Library” section, in the subsection “Exhibitions”.

    The exhibition includes photographs of Chekhov and his family, documents about the writer’s studies at the Imperial Moscow University (now Moscow State University), records in the register of marriage of Anton Chekhov and Olga Knipper in 1901, as well as the writer’s death in 1904, and other materials. One of the sections of the exhibition tells about the perpetuation of the memory of Anton Chekhov – the creation of a memorial house-museum of the writer on Sadovaya-Kudrinskaya Street and the holding of events in honor of the celebration of his anniversaries.

    Anton Chekhov first visited Moscow in 1877, when he was 17 years old. Two years later, he entered the medical faculty of the Imperial Moscow University and became one of 10 scholarship holders of the Taganrog City Duma, which allocated funds for the education of city natives in higher educational institutions. At the exhibition, you can see a document on the release of the bearer of a coupon for an assignment of 25 rubles, delivered from the Taganrog City Council, on which Anton Chekhov signed. In 1884, he completed his studies at the university. The document on conferring the title of district doctor on students, among whom Chekhov is also mentioned, was signed by the dean of the medical faculty, Nikolai Sklifosovsky.

    A separate section of the exhibition is devoted to Anton Chekhov’s collaboration with the Moscow Art Theatre (MKhT). Documents and photographs make it possible to trace the history of productions of plays based on the playwright’s plays and see the actors who participated in them. The exhibition presents theatre posters, programmes and tickets for MKhT performances, as well as the memories of spectators who saw the productions in 1899–1900.

    Due to his health, the writer was forced to leave Moscow and settle in Yalta. In the summer of 1904, due to a sharp exacerbation of his illness, Anton Chekhov and his wife Olga Knipper-Chekhova went to a resort in Germany. On July 15, he died in the town of Badenweiler. The writer was buried in Moscow at the Novodevichy Convent Cemetery.

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

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

    https: //vv.mos.ru/nevs/ite/149432073/

    MIL OSI Russia News –

  • MIL-OSI Australia: Underlying inflation falls to three-year low

    Source: Australian Treasurer

    Underlying inflation is at its lowest in three years according to new figures released by the Australian Bureau of Statistics today.

    Headline inflation is now in the mid‑twos and underlying inflation is in the low threes.

    This means headline inflation has fallen to an almost four‑year low and now sits in the middle of the RBA’s target band.

    This result is better than expected and better than forecast.

    It’s not mission accomplished, but it means we’ve made much more progress.

    Inflation was higher and rising under the Liberals, but it’s lower and falling under Labor.

    On every measure we’ve made substantial and sustained progress in the fight against inflation.

    Inflation is now almost a third of the 6.1 per cent we inherited when we came to office.

    On a six‑month annualised basis, underlying inflation is around a third of its peak at 2.7 per cent and is within the RBA’s target band for the first time since 2021.

    Trimmed mean inflation was 3.2 per cent through the year to the December quarter, down from 3.6 per cent.

    Trimmed mean inflation almost halved in the quarter, at 0.5 per cent and is a third of what it was at the time of the election.

    Annual trimmed mean inflation in the monthly indicator is also within the RBA’s target band for the first time in three years, at 2.7 per cent in the year to December.

    Headline inflation was 0.2 per cent in the December quarter, to be 2.4 per cent higher through the year, around a quarter of its peak.

    Australia’s headline inflation is now lower than most major advanced economies including the United States, United Kingdom and Germany.

    Annual non‑tradable inflation was 3.1 per cent through the year to the December quarter 2024, down from 4.1 per cent through the year to the September quarter.

    While monthly headline inflation ticked up slightly, it remained in the band for the fifth consecutive month.

    The moderation in today’s figures of categories including building construction costs, rents and insurance is an encouraging sign that inflation is falling more quickly than anticipated in MYEFO.

    The moderation in inflation that we’ve seen so far would not have been possible without our responsible economic management including the $200 billion turnaround in the budget we’ve delivered.

    ABS data shows our cost‑of‑living policies took around three quarters of a percentage point off inflation.

    In the year to the December quarter 2024, electricity prices fell 25.2 per cent and would have fallen 1.6 per cent without the energy rebates we’re rolling out with the states.

    In the year to the December quarter 2024, rents rose 6.4 per cent – without the largest increase to Rent Assistance in 30 years, they would have risen 7.8 per cent.

    Inflation is down, wages are up, unemployment is low and we’ve seen 1.1 million jobs created for Australian workers under Anthony Albanese and Labor.

    The soft landing we have been planning and preparing for is looking more and more likely.

    Many countries around the world have paid for progress on inflation through higher unemployment or lower economic growth, but we’ve been able to preserve the gains we’ve made in our labour market at the same time as we’ve got inflation down.

    Cost of living pressures haven’t disappeared but they are easing.

    The worst of the inflation challenge is well and truly behind us.

    We are confident but not complacent about the year ahead.

    Australians would be thousands of dollars worse off if Peter Dutton had his way on tax cuts, wages and energy bill relief – and worse off still if he wins the election.

    The biggest risk to the progress we have made together would be a Coalition government that would come after Medicare again, push wages down again, and push electricity prices up.

    We’re fighting inflation, helping with the cost of living and building Australia’s future, and today’s figures show our policies are making a meaningful difference.

    MIL OSI News –

  • MIL-OSI Submissions: Business – Consultants And Interim Managers Launch BRICS Network

    Source: German Technology & Engineering Corporation (GTEC)

    Karlheinz Zuerl, Interim Manager of the Year 2024*, has set up an international business network to bridge the gap between Western industrialized nations and the BRICS countries.

    Berlin, January 28 2025 – A new international network of consultants and interim managers has been launched under the name “BRICS Project Network” to support Western companies in expanding their business in BRICS countries and vice versa. “The BRICS nations account for nearly half of the global population and produce over a third of the world’s economic output, surpassing the G7 countries,” explained Karlheinz Zuerl, CEO of the German Technology & Engineering Corporation (GTEC) based in Shanghai, China, which spearheads this initiative.

    Karlheinz Zuerl said: “The further development of economic relations between the Western industrialized nations and the BRICS community helps all parties involved. The new network reportedly includes China, Hong Kong, India and Southeast Asia (Malaysia, Indonesia, Vietnam, Thailand), the United Arab Emirates, Iran, Brazil and South America, Mexico, Canada (USMCA customs union), Russia, Eastern Europe and a number of African countries in the global south, such as South Africa, Ethiopia and Egypt.

    Wide Range Of Services

    Acting as a “bridge-builder” between these countries and the Western industrialized world, the new network offers a wide range of services: Management Consulting, Business Development, Project Management, Interim Management, Training and Education. Karlheinz Zuerl gave specific examples: “We carry out market analyses, set up international sales networks, initiate business partnerships and takeovers, represent companies at trade fairs and other events, take care of organizational development, look after human resources, set up branches on behalf of companies, carry out relocations and company transfers, optimize finances and local production and carry out restructuring to improve earnings.”

    According to the information provided, the consultants and managers in the network have many years of experience in a wide range of sectors. Examples given include: Manufacturing, automotive, mechanical and plant engineering, construction, electrical and electronics, domestic appliances, environmental technology, information technology, pharmaceuticals and communications technology. If required, interim managers can take on operational roles such as general management, commercial management, project or quality management, research and development, human resources and finance, sales and marketing or change management.

    Trade Disputes And Sanctions Weigh On Relations

    Trade disputes between the US and China and sanctions against Russia are putting a strain on economic relations. The economic relationship between the Western industrialized nations and the BRICS countries is under severe strain. These tensions have led the BRICS to seek alternatives to reduce their dependence on Western financial systems, for example by discussing a common currency or reducing the use of the US dollar in trade.

    “We are not politicians,” said Karlheinz Zuerl, “but business consultants and interim managers who build cross-border business relationships and investments that benefit all parties. Given the geopolitical tensions, the enormous economic potential for both parties is often underestimated. With experienced professionals like those in our network, this potential can be realized.”

    He points out that a number of BRICS countries play an important role in technological development, as attractive manufacturing locations and as suppliers of raw materials and energy to the Western industrial world. Without China, India, Russia and Brazil, the Western economy would be much poorer,” said Karlheinz Zuerl, underlining the importance of the BRICS countries today.

    * Karlheinz Zuerl was honoured by United Interim, the leading community for interim managers in Germany, Austria and Switzerland, and Steinbeis Augsburg Business School.

    GTEC (https://gtec.asia) helps Western industrial companies to overcome challenges in Asia. The focus is on business development, the establishment and expansion of branches and production facilities, as well as restructuring and turnaround measures to bring automotive suppliers and mechanical engineering companies in critical phases back into the profit zone. Under the direction of CEO Karlheinz Zuerl, a team of consultants, experts and interim managers is on hand to work on-site with the client if necessary. The CEO himself is available for tasks as an interim general manager and for executive consulting. GTEC’s list of references includes corporations such as BMW, Bosch, General Motors and Siemens, large medium-sized companies such as Hella, Schaeffler, Valeo and ZF, as well as smaller medium-sized companies that are less well known but are operating all the more.

    MIL OSI – Submitted News –

  • MIL-OSI USA: Warren Slams Defense Nominee for Improperly Withholding Aid to Ukraine, Violating U.S. Constitution, Disregarding Congressional Authority

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    January 28, 2025

    Michael Duffey is responsible for holding up aid to Ukraine, leading to President Trump’s first impeachment

    “[I]f you are confirmed…the Senate would be supporting the confirmation of an individual who has shown disregard for the Constitution, Congressional authority, and our nation’s laws.”

    Text of Letter (PDF) 

    Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), member of the Senate Armed Services Committee, wrote to Mr. Michael Duffey, nominee for Under Secretary of Defense for Acquisition and Sustainment (USD(A&S)) of the Department of Defense (DoD), ahead of his confirmation hearing, with serious concerns about his record, which include violating the law, disregarding Congressional authority, and his involvement in Project 2025. Mr. Duffey also played a direct role in Trump’s withholding of funding to Ukraine, an action that resulted in the impeachment of Donald Trump. It is especially alarming given he would oversee a DoD requested acquisition budget of $311 billion and procurement programs already at high-risk for fraud, waste, and abuse. 

    Mr. Duffey’s Role in the Unlawful Freezing of Aid to Ukraine

    In December 2019, President Trump was impeached for high crimes and misdemeanors for illegally seeking assistance from Ukraine to help him win the 2020 election against President Joe Biden. In his role at the Office of Management and Budget (OMB), Mr. Duffey helped President Trump block aid to Ukraine in an effort to pressure them to open an investigation into President Biden. He did so despite under-oath testimony and emails showing that career officials raised concerns with him that this could violate the law and disrupt DoD’s ability to train and equip Ukraine to strengthen their security forces. The Government Accountability Office (GAO), a non-partisan independent government watchdog, concluded that freezing this aid violated the Impoundment Control Act of 1974. 

    “Your actions in the course of these events give the strong appearance that you knowingly violated the law and the Constitution – and that you were an important participant in events that ultimately resulted in the President’s impeachment,” said Senator Warren.

    Duffey’s Disregard for Congressional Authority and Oversight

    Mr. Duffey also refused to comply with a deposition request as part of the impeachment inquiry and ignored a subpoena from the three House committees that led the impeachment inquiry. His refusal to comply with the subpoena – at the direction of President Trump – was so significant that it was one of the reasons that President Trump was charged with the second article of impeachment for Obstruction of Congress and that Mr. Duffey was listed by name in the impeachment resolution.

    Duffey’s Direct Involvement in Project 2025

    Mr. Duffey also had direct involvement in Project 2025, developing several policies for the report. One of the chapters Mr. Duffey contributed to calls for “using government contracts to push back against woke policies in corporate America.” The senator raised concerns about whether Mr. Duffey would use his position to police the personnel and Human Resources decisions of defense contractors, rather than prioritizing government contracts that advance U.S. national security and support our servicemembers. Project 2025 also calls for “reducing the number of procurement competitions” and a new system that allows decision makers of federal contracts to “bypass unnecessary departmental regulations.”  

    “I am concerned by whether these policy plans will reduce necessary competition and favor the biggest – or most politically connected – defense contractors,” wrote Senator Warren. 

    Duffey’s Plan to Address Risks of Waste, Fraud, and Abuse in DoD Acquisition

    Given Mr. Duffey’s past behavior, especially that which led to President Trump’s first impeachment, the senator raised concerns about whether he will ensure DoD contracts are awarded fairly and based on the best interests of taxpayers and national security. 

    Already, DoD’s acquisition program has been a target of “contracting-related fraud schemes” and DoD’s contracting processes have been found to be “vulnerable to waste, fraud, and abuse.” This concern is heightened as major DoD contractors, including Lockheed Martin and Boeing, made donations to President Trump’s second inauguration in order to ingratiate themselves with the new administration in an effort to avoid regulation and win government contracts.

    “[I]f you are confirmed…the Senate would be supporting the confirmation of an individual who has shown disregard for the Constitution, Congressional authority, and our nation’s laws,” concluded Senator Warren. She requested his written answers to questions by February 3, 2025. 

    Senator Warren has led efforts, including bipartisan action, to hold DoD accountable and transparent to ensure taxpayers are not being price gouged and the defense industrial base remains resilient:  

    • In January 2025, Senator Warren sent Elon Musk, Chair of the Department of Government Efficiency (DOGE), a letter detailing over 30 proposals that would cut at least $2 trillion of wasteful government spending over the next decade.
    • In September 2024, Senator Elizabeth Warren (D-Mass.), a member of the Senate Armed Services Committee, along with Senators Mike Braun (R-Ind.), Mike Lee (R-Utah) and Chuck Grassley (R-Iowa), reintroduced the Streamline Pentagon Spending Act, bipartisan legislation to repeal statutory requirements to provide unfunded priorities lists, reduce wasteful reporting burdens, and enhance civilian oversight over the budgetary process.
    • In May 2024, Senators Warren, then-Chair of the Senate Armed Services Subcommittee on Personnel and Chuck Grassley (R-Iowa), then-Ranking Member of the Senate Committee on the Budget, led a letter with Mike Braun (R-Ind.) and John Fetterman (D-Pa.) demanding the Department of Defense (DoD) provide answers about military contractors’ price gouging tactics that cost the Pentagon billions of dollars every year in overpayments. 
    • In May 2024, at a hearing of the Senate Armed Services Subcommittee on Strategic Forces, Senator Elizabeth Warren (D-Mass.), raised concerns about DoD contractor, SpaceX, which is owned by Elon Musk, undermining U.S. allies and national security goals. Senator Warren questioned Mr. John D. Hill, Deputy Assistant Secretary of Defense for Space and Missile Defense, about SpaceX’s work to stop its Starlink technology from being illegally acquired by Russia. These illegal terminals may have provided Russia a major advantage in their invasion of Ukraine.  
    • In March 2024, at a hearing of the U.S. Senate Armed Services Committee (SASC), Senator Warren questioned General Anthony J. Cotton, USAF, Commander of United States Strategic Command about significant cost overruns and mismanagement of the Sentinel program. 
    • In February 2024, Senator Warren and Representative Garamendi (D-Calif.), sent a letter to Secretary of Defense Lloyd J. Austin III, expressing concerns with the Department of Defense’s (DoD) insufficient review process for consolidation in the defense industrial base and the resulting impact on supply chains, innovation, and national security.
    • In November 2023, after reports that defense contractor TransDigm refused to provide cost and pricing information needed to prevent price gouging of taxpayers and the DoD, Senator Warren and Representative Garamendi sent letters to the DoD and TransDigm, pressing them to provide transparency on cost and pricing data to ensure that taxpayers aren’t being overcharged for expensive DoD contracts. 
    • In August 2023, Senator Warren, then-Chair of the Senate Armed Services Subcommittee on Personnel, Senator Richard Blumenthal (D-Conn.), and Senator Lindsey Graham (R-S.C.), met with President Volodymyr Zelenskyy and top officials during a visit to Kyiv, Ukraine on August 23rd. The congressional delegation’s trip coincided with Ukraine’s Independence Day celebration on August 24th and demonstrated strong bipartisan support from the U.S. Senate for the Ukrainian people in the face of Russia’s brutal and illegal invasion. 
    • In July 2023, at a hearing of the Senate Armed Services Subcommittee on Personnel, Senator Warren called out the Department of Defense for wasting billions in taxpayers dollars due to price gouging by defense contractors for services and in health care, and identified opportunities for cost savings when DoD buys personnel-related goods and services. 
    • In July 2023, Senator Warren sent a letter to Secretary of Defense Lloyd Austin and Director of the Defense Health Agency, Lieutenant General Telita Crosland, regarding a series of DoD Inspector General reports finding that the DoD is failing to prevent price gouging and overpayments to contractors in the TRICARE health program.
    • In June 2023, Senator Warren, Senator Mike Braun, and Representative Garamendi reintroduced the bipartisan Stop Price Gouging the Military Act which would close loopholes in current acquisition laws, tie financial incentives for contractors to performance, and provide the Department of Defense the information necessary to prevent future rip-offs.
    • In May 2023, Senator Warren and Representative Garamendi sent letters to Boeing, TransDigm, and the Department of Defense, calling out the defense contractors for their refusal to provide cost and pricing data to the Department of Defense (DoD), as required by law. The lawmakers also called on DoD to take action to address these contractors’ refusals to provide cost and pricing data. 
    • In October 2022, Senator Warren obtained a commitment from DoD not to increase contract prices due to inflation.
    • In October 2022 Senator Warren sent a letter to DoD urging them to insist on receiving certified cost or pricing data to justify any contract adjustments.
    • In June 2022, Senator Warren and Representative Garamendi introduced the bicameral Stop Price Gouging the Military Act, which would enhance DoD’s ability to access certified cost and pricing data. Part of Senator Warren’s legislation was incorporated into the FY 2023 National Defense Authorization Act reported to the Senate.
    • In March 2022, at a SASC hearing, Senator Warren criticized DoD for failing to consider alternatives to the Sentinel program in order to justify unsustainable nuclear weapons spending.
    • In September 2020, Senator Warren and Representative Ro Khanna (D-Calif.) formally requested that the Department of Defense (DoD) Inspector General (IG) investigate reports that the Pentagon redirected hundreds of millions of dollars of funds meant for COVID-19 response via the Defense Production Act (DPA) to defense contractors for “jet engine parts, body armor and dress uniforms.”
    • In May 2020, Senator Warren wrote to the Department requesting clarification on how the Department would prevent profiteering following a recent change to increase payments to contractors in response to the COVID-19 pandemic.
    • In August 2017, Senator Warren traveled to Eastern Europe and Germany to learn more about plans to counteract Russian efforts to damage European democracies.
    • In May 2017, Senator Warren wrote to the DoD Inspector General, requesting an investigation into TransDigm for potential waste, fraud, and abuse in the military spares market.
    • In October 2015, Senator Warren visited Ukraine and other European countries for a visit focused on economic issues and the Syrian refugee crisis. 

    MIL OSI USA News –

  • MIL-OSI Europe: Briefing – Foot and mouth disease: Fresh cause for concern – 28-01-2025

    Source: European Parliament

    It has been 14 years since the last outbreak of foot and mouth disease (FMD) in a European Union (EU) country. However, three water buffaloes have recently tested positive for the disease in Germany. While FMD poses no risk to human health, it is a highly contagious viral disease that can affect various cloven-hoofed animals. The speed with which the disease spreads makes it essential to cull all animals hosted on the affected farm once an outbreak is detected, and to apply strict biosecurity measures. This results in significant economic losses. As a result of the 2001 outbreak in the United Kingdom (UK), over 6 million animals were culled in one year, costing more than £3 billion (more than €6.5 billion at current prices) in public expenditure and having a huge impact on the tourism sector. The EU has legislation in place outlining rules for the prevention and control of animal diseases such as FMD, including a notification system integrated into the World Animal Health Information System to facilitate a coordinated approach. The European Commission also cooperates with the United Nations Food and Agriculture Organization (FAO) to fight the spread of the disease. Since 1990, the use of preventive vaccines against FMD has been prohibited in the EU, except for in certain cases and in emergencies. Although conventional FMD vaccines protect livestock from developing the disease, vaccinated animals may still become infected and carry the disease.

    MIL OSI Europe News –

  • MIL-OSI: CMD Portal Awards 2025: AFL wins ‘Most Improved Bond Issuer’ award

    Source: GlobeNewswire (MIL-OSI)

                                                                 Press release
    28/01/2025

    CMD Portal Awards 2025: AFL wins ‘Most Improved Bond Issuer’ award

    AFL, the French local government funding agency, is rewarded for the second time by CMD Portal – a network of more than 35,000 bond market experts – and wins the “Most Improved Bond Issuer” prize, the most efficient bond issuer. This distinction reflects the bank’s proven ability to place its debt with a growing and diversified investor base across multiple currencies. Now well established as frequent bond issuer, AFL is on its way to become a significant borrower in the capital markets, offering investors the only diversified exposure to the French local public sector.

    A funding program in full expansion for 10 years

    Created 10 years ago by and for the French local authorities, AFL’s mission is to facilitate access to financing and is among the leading lenders to local governments.

    Since its creation, the bank has been able to maintain its financial strength while expanding its operations. It has doubled its financing program, diversified its issuance currencies, and increased the frequency of both private placements and benchmark transactions with the objective to improve liquidity for investors. AFL’s bond issues are now located nearly on the entire Euro curve, which allows it to broaden its access to the market.

    Ten years after the beginning of its activities, AFL’s balance sheet stands at nearly €11 billion, reflecting the dynamic growth in loan production granted to local authorities since its first bond issue in 2015.

    Issuance of new products and expansion into new international markets

    Since 2023, AFL has had the ability to issue callable bonds. On this segment, the bank has already and successfully completed six transactions of this type in 2024, with an average size of €37 million, totaling €221 million.

    In April 2024, AFL entered the public Swiss Franc (CHF) market with an inaugural transaction of CHF 110 million. This strategic bond issuance broadened AFL’s already diverse investor base, which now spans France, Germany, Austria, Switzerland, the Benelux, the UK, Northern Europe, and Asia.

    The institution now has a base of more than 300 international investors, including banks, private banks, fund managers, insurance companies, pension funds, and a growing number of central banks and official institutions.

    Lastly, in December 2024, AFL issued €50 million of subordinated debt securities, with the aim of enabling it to deploy its business plan while strengthening its equity base.

    2024 constitutes a pivotal year for AFL in two respects:

    • AFL was able to maintain its AA- rating when S&P downgraded France’s sovereign rating from AA to AA- in May 2024, leading the bank to now share the same as the French central government. AFL has thus strengthened its position compared to other public sector banking institutions.
    • Additionally, the HQLA 1 qualification granted by the ACPR in respect of for AFL’s debt on June 21, 2024, following the change in the risk weighting of French local authorities to 0%, has contributed to significantly enhancing the eligibility of AFL’s debt securities in the portfolios of investors, particularly banks.

    Key Takeaways:


    €11 billion in loans     granted over the past 10 years

    3rd largest lender to French local authorities

    Recognized as a public development bank in 2021

    HQLA 1 since June 2024

    AA-/AA- (S&P/Fitch)
    Same credit rating as the French government

    About AFL

    “The Company’s mission is to embody a responsible finance to strengthen the local world’s empowerment so as to better deliver the present and future needs of its inhabitants.”

    By creating our bank, the first one that we own and manage, we, French local authorities, have decided to act to deepen decentralization. Our bank, Agence France Locale (AFL), is not a financial institution similar to any other. Created by and for local authorities, it aims to strengthen our freedom, our ability to develop projects and our responsibility as local public actors. Its culture of prudence spares us from the dangers of complexity and its governance from downward slides of conflicts of interest. The main objective is to provide local world with an access to cost-efficient resources, under total transparency. The principles of solidarity and equity drive us. We are convinced that together we go further. We decided that our institution would be agile, addressing all types of local authorities, from the largest regions to the smallest municipalities. We see profit as a means to maximize public spending, not as an end goal. Through AFL, we support a local world committed to take up social, economic, and environmental challenges. AFL strengthens our empowerment: to carry out projects in our territories, today and tomorrow, to the benefits of the inhabitants. We are proud to have a bank whose development is like us, even more responsible and sustainable. We are Agence France Locale.

    Press contact
    Justine GUIGUES – Press Relation Officer
    justine.guigues@afl-banque.fr
    +33 6 74 94 29 66

    Attachment

    The MIL Network –

  • MIL-OSI: Innovation: Infomaniak inaugurates a data center that recycles 100% of its energy and will heat 6,000 households a year for at least 20 years

    Source: GlobeNewswire (MIL-OSI)

    Yesterday, the Swiss cloud provider Infomaniak officially inaugurated its new data center, which has been recovering 100% of the electricity it uses since 11 November. Located in a residential area of Geneva, on an underground site of the participatory and eco-responsible cooperative of la Bistoquette, the data center has no impact on the landscape and recycles 100% of the local renewable energy it consumes. At full capacity, it will feed 1.7 MW (or 14.9 GWh/year) into the region’s heating network, enabling 6,000 Minergie-A households to be heated a year or 20,000 people to take a 5-minute shower every day. This new generation of data centers, which has already received a number of awards, has been documented by students from EPFL, IMD and the University of Lausanne with a view to making it open source and enabling it to be reproduced on a large scale.

    Inauguration of the D4, a data center that is revolutionising the cloud industry

    Infomaniak’s new data center, a symbol of technological innovation and sustainability, was officially inaugurated yesterday, with the public authorities and key project stakeholders in attendance. Their collective commitment was essential in making this world first a reality. The project exceeds the standards of similar infrastructures in terms of environmental integration and energy recovery.

    Since 2 p.m. on 11 November 2024, all the electricity consumed by this structure, in the form of heat, has already been fed back into the district heating network of the Canton of Geneva. This achievement marks a key stage in the region’s energy transition, transforming an energy-intensive facility into an active player in energy recovery.

    Currently operating at 25% of its potential capacity, Infomaniak’s data center will gradually increase its output to reach full capacity by 2028, guaranteeing a sustainable contribution to society for at least 20 years.

    The future of the cloud: circular energy with no impact on the landscape

    Having already won several awards for the energy efficiency of its infrastructures, which have been operating without air conditioning since 2013, Infomaniak is addressing four major challenges facing the cloud industry with this new data center model:

    1. 100% of the electricity used by the data center is reused to heat households via a district heating network.
    2. The facility does not require additional water or air conditioning to be cooled.
    3. It is built on an underground site in a residential area.
    4. It has no impact on the landscape.

    “In the real world, data centers convert electricity into heat. With the exponential growth of the cloud, this energy is currently being released into the atmosphere and wasted. There is an urgent need to upgrade this way of doing things, to connect these infrastructures to heating networks and adapt building standards,” explains Boris Siegenthaler, Infomaniak’s Founder and Chief Strategy Officer.        

    Nothing is wasted, everything is transformed

    Unlike existing projects that recycle a fraction of the energy they consume, the system implemented by Infomaniak goes further.

    All the electricity consumed (by servers, inverters, ventilation, etc.) is converted into heat at a temperature of 40 to 45°C. This heat is then transferred to an air/water exchanger, which integrates it into a hot water circuit. Heat pumps then raise its temperature to transfer the waste heat from the data center to the heating network.

    The originality of the system lies in the use of both sides of the pump:

    • The gas in the heat pumps expands by capturing the energy in the water, which drops from 45°C to 28°C. This cooled water is fed into the air/water exchanger to cool the servers, eliminating the need for traditional air conditioning.
    • The gas in the pumps is then compressed to transmit energy to the district heating network, raising the water temperature to 67 °C in summer and 85 °C in winter to meet the needs of the district heating operator.

    The recovery mechanism is therefore the same as the one that keeps the servers at an optimal operating temperature. The additional energy required to run the heat pumps is also recycled, and it is the cold released by this process that keeps the servers cool.

    “Today, PUE, which measures the energy efficiency of data centers, is no longer sufficient in the face of the climate emergency. We also need to take ERE into account, which evaluates the energy actually consumed compared to the energy reused, as well as the ERF, which measures the proportion of the data center’s total energy that is reused for other purposes, such as district heating. Taken together, these three indicators provide a more complete picture of the energy impact of digital infrastructures,” explains Boris Siegenthaler, Infomaniak’s Founder and Chief Strategy Officer.

    6,000 homes heated and 3,600 t CO₂e saved each year

    At full capacity, the new data center will house some 10,000 servers in an underground area measuring 1,800 m2. It will provide the heating network with 1.7 MW, equivalent to the energy needed to heat 6,000 Minergie-A households per year or allow 20,000 people to take a 5-minute shower every day.

    Geneva will avoid having to burn 3,600 t CO2e of natural gas per year or the equivalent of 5,500 t CO2e of pellets per year, not to mention eliminate 211 lorries per year transporting 13 tonnes of material and the microparticles associated with pellet transport and combustion.

    An economically neutral operation

    In financial terms, recycling waste heat is a neutral operation for Infomaniak. Without the servers, this data center cost CHF 12 million, including a CHF 6 million advance from the cloud provider to adapt heat levels those required by heating network. Part of this CHF 6 million was provided by the Cantonal Energy Office of the Canton of Geneva (OCEN) and the heating network operator (SIG). The remainder will be gradually amortised by the heat produced by Infomaniak, at cost price.

    From finding the site (June 2019) to commissioning the first servers (December 2023), the project took a total of four and a half years to complete, whereas Infomaniak would usually build a data center in two years. The main challenges involved were finding a location that was both secure and close to a district heating network capable of permanently absorbing the associated volume of heat, and negotiating a contract with the district heating network operator.

    Good for Europe’s technological sovereignty

    This data center strengthens Europe’s technological sovereignty and creates value for many local companies by relying on equipment manufactured exclusively in Europe, with the exception of the security cameras used:

    • Trane heat pumps (France)
    • Ebmpapst fans (Germany)
    • Siemens power rails (Germany)
    • Siemens switchboard (Germany)
    • Minkels server racks (Netherlands)
    • ABB inverters (Switzerland)
    • Margen generator (Italy)
    • Meyer-Burger solar panels (Switzerland/Germany)

    The local economy will also benefit directly from the impact of this project.

    A new generation of data centers that is open source

    This innovation can be reproduced and the expertise gained during the course of the project has been made available free of charge. This model works, demonstrating to the cloud industry and policymakers that it is possible to double the value of energy from data centers. It also shows that the digital sector should no longer be seen as an end consumer of electricity, but as an actor in the energy transition.

    Infomaniak’s new data center, which was awarded the Swiss Ethics Prize and the Sustainable Development Prize of the Canton of Geneva in 2023, has been documented by UNIL, IMD and EPFL as part of the e4s.center programme to illustrate its energy efficiency in real time and make it easier to reproduce. This work is available for free at https://d4project.org/ and includes:

    • A technical guide explaining how to replicate this data center model.
    • Real-time monitoring of data center operational performance
    • A summary for policymakers with information to improve regulations on the design and sustainability of data centers

    Two new similar data centers already planned

    To support its growth, Infomaniak is actively looking for heating networks for its future data centers. “We already have 1.1 MW ready to be fed into a heating network, and by 2028, a new data center of at least 3.3 MW will be needed to meet demand. The principle is simple: we buy electricity locally and provide our carbon-free waste heat free of charge,” explains Boris Siegenthaler.

    Key figures

    • Average PUE: 1.09 (European average: 1.6)
    • ERE and ERF: see online
    • 2 1.7 MW heat pumps
    • Total area: 1,800 m2
    • Total budget (without servers): CHF 12 million
    • Total energy recycled at full capacity: 1.7 MW
    • Number of servers at full capacity: approximately 10,000 (200 47U racks)
    • Capacity of the solar power plant linked to this data center: 130 kWp (364 modules)
    • GPUs currently installed in this data center: Nvidia L4, A100 and H100

    Resources

    The MIL Network –

  • MIL-OSI Global: Trump 2.0: the rise of an ‘anti-elite’ elite in US politics

    Source: The Conversation – France – By William Genieys, Directeur de recherche CNRS au CEE, Sciences Po

    US president Donald Trump is surrounded by a new cohort of politicians and officials. While one of his campaign promises was to overthrow the “corrupt elites” he accuses of flooding the American political arena, his second term in office has elevated elites chosen, above all, for their political loyalty to him.

    The media’s focus on Trump’s comments on making Canada the 51st US state and annexing Greenland and billionaire Elon Musk’s support for some far-right parties in Europe has obscured the ambitious programme to transform the federal government that the new political elite intends to implement.

    In the wake of Trump’s inauguration on January 20, the Republican elites most loyal to the MAGA (“Make America Great Again”) leader, who staunchly oppose Democratic elites and their policies, are operating amid their party’s control over the executive and legislative branches (at least until the midterm elections in 2026), a conservative-dominated Supreme Court that includes three Trump-appointed justices, and a federal judiciary that shifted right during his first term.

    However, the political project of the Trumpist camp consists less of challenging elitism in general than attacking a specific elite: one particular to liberal democracies.

    Castigating democratic elitism

    Typical anti-elite political propaganda, along the lines of “I speak for you, the people, against the elites who betray and deceive you,” claims that a populist leader would be able to exercise power for and on behalf of the people without the mediation of an elite disconnected from their needs.

    Political theorist John Higley sees behind this form of anti-elite discourse an association between so-called “forceful leaders” and “leonine elites” (who take advantage of the former and their political success): a phenomenon that threatens the future of Western democracies.

    Since the Second World War, there has been a consensus in US politics on the idea of democratic elitism. According to this principle, elitist mediation is inevitable in mass democracies and must be based on two criteria: respect for the results of elections (which must be free and competitive); and the relative autonomy of political institutions.

    The challenge to this consensus has been growing since the 1990s with the increased polarization of American politics. It gained new momentum during and after the 2016 presidential campaign, which was marked by anti-elite rhetoric from both Republicans and Democrats (such as senators Bernie Sanders and Elizabeth Warren). At the heart of some of their diatribes was an aversion to “the Establishment” on the east and west coasts of the United States, where many prestigious financial, political and academic institutions are based, and the conspiracy notion of the “deep state”.

    The re-election of Trump, who has never admitted defeat in the 2020 presidential vote, growing political hostility and the direct involvement of tech tycoons in political communication –especially on the Republican side– further reinforce the denial of democratic elitism.

    Trump’s populism from above: a revolt of the elites

    The idea that democracy could be betrayed by “the revolt of the elites”, put forward by the US historian Christopher Lasch (1932-1994), is not new. For the anthropologist Arjun Appadurai, it is a particular feature of contemporary populism, which comes “from above.” Indeed, if the 20th century was the era of the “revolt of the masses”, the 21st century, according to Appadurai, “is characterized by the ‘revolt of the elites’.” This would explain the rise of populist autocracies (such as those currently led by Viktor Orban in Hungary, Recep Tayyip Erdogan in Turkey and Narendra Modi in India, and formerly led by Jair Bolsonaro in Brazil), but also the election successes of populist leaders in consolidated democracies (including those of Trump in the US, Giorgia Meloni in Italy, and Geert Wilders in the Netherlands, for example).

    As Appadurai explains, the success of Trumpian populism, which represents a revolt by ordinary Americans against the elites, casts a veil over the fact that, following Trump’s victory in November, “it is a new elite that has ousted from power the despised Democratic elite that had occupied the White House for nearly four years.”

    The aim of this “alter elite” is to replace the “regular” Democrat elites, but also the moderate Republicans, by deeply discrediting their values (such as liberalism and so-called “wokeism”) and their supposedly corrupt political practices. As a result, this populism “from above” carried out by the President’s supporters constitutes an alternative elite configuration, the effects of which on American democratic life could be more significant than those observed during Trump’s first term.

    Beyond the idea of a ‘Muskoligarchy’

    The idea that we are witnessing the formation of a “Muskoligarchy” –in other words, an economic elite (including tech barons such as Jeff Bezos, Mark Zuckerberg and Marc Andreessen) rallying around the figurehead of Elon Musk, whom Trump asked to lead what the president has called a “Department of Government Efficiency” (DOGE) –is seductive. It perfectly combines the vision of an alliance between a “conspiratorial, coherent, conscious” ruling class and an oligarchy made up of the “ultra-rich”. For the Financial Times columnist Martin Wolf, it is even a sign of the development of “pluto-populism”. (It is also worth noting that former president Joe Biden, in his farewell speech, referred to “an oligarchy… of extreme wealth” and “the potential rise of a tech-industrial complex.”)

    However, some observers are cautious about the advent of a “Muskoligarchy.” They point to the sociological eclecticism of the new Trumpian elite, whose facade of unity is held together above all by a political loyalty, for the time being unfailing, to the MAGA leader. The fact remains, however, that the various factions of this new “anti-elite” elite are converging around a common agenda: to rid the federal government of the supposed stranglehold of Democratic “insiders.”

    An ‘anti-elite’ elite against the ‘deep state’

    In his presidential inauguration speech in 1981, Ronald Reagan said: “Government is not the solution to our problem; government is the problem.” The anti-elitism of the Trump elite is inspired by this diagnosis, and defends a simple political programme: rid democracy of the “deep state.”


    Although the idea that the US is “beleaguered” by an “unelected and unaccountable elite” and “insiders” who subvert the general interest has been shown to be unfounded, it is nonetheless predominant in the new Trump Administration.

    This conspiracy theory has been taken to the extreme by Kash Patel, the candidate being considered to head the FBI. In his book, Government Gangsters, a veritable manifesto against the federal administration, the former lawyer writes about the need to resort to “purges” in order to bring elite Democrats to justice. He lists around 60 people, including Biden, ex-secretary of state Hillary Clinton and ex-vice president Kamala Harris.

    Government Gangsters, Kash Patel’s controversial book.
    Google Books

    The appointment of Russell Vought as head of the Office of Management and Budget at the White House, a person who is known for having sought to obstruct the transition to the Biden Administration in 2021, also highlights the hard turn that the Trump administration is likely to take.

    Reshaping the state around political loyalty

    To “deconstruct the administrative state”, the “anti-elite” elites are relying on Project 2025, a 900-plus page programme report that the conservative think-tank The Heritage Foundation, which published it, says was produced by “more than 400 scholars and policy experts.” According to former Project 2025 director Paul Dans, “never before has the entire movement… banded together to construct a comprehensive plan” for this purpose. On this basis, the “anti-elite” elite want to impose loyalty to Project 2025 on federal civil servants.

    But this idea is not new. At the end of his first term, Trump issued an executive order facilitating the dismissal of statutory federal civil servants occupying “policy-related positions” and considered to be “disloyal”. The decree was rescinded by president Biden, but Trump on his first day back in office signed an executive order that seeks to void Biden’s rescindment. As President, Trump is also able to allocate senior positions within the federal administration to his supporters.

    The “anti-elite” elite not only want to reduce the size of the state, as was the case under Reagan’s “neoliberalism”, but to deconstruct and rebuild it in their own image. Their real aim is a more lasting victory: the transformation of democratic elitism into populist elitism.

    Les auteurs ne travaillent pas, ne conseillent pas, ne possèdent pas de parts, ne reçoivent pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’ont déclaré aucune autre affiliation que leur organisme de recherche.

    – ref. Trump 2.0: the rise of an ‘anti-elite’ elite in US politics – https://theconversation.com/trump-2-0-the-rise-of-an-anti-elite-elite-in-us-politics-248180

    MIL OSI – Global Reports –

  • MIL-OSI Economics: “Risks in Focus 2025” – Climate change, geopolitics and a weak economy could put pressure on Germany’s financial system

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    In 2025, companies in the German financial sector should ensure that their risk management incorporates more comprehensive Information on the consequences of climate change. According to BaFin, physical risks such as extreme weather or natural disasters in the form of major fires, droughts or floods could have a much greater impact on banks’ loan portfolios and insurers’ loss amounts in future.
    In this year’s “Risks in Focus”, BaFin describes these increasing physical risks as a relevant trend for the financial sector. At a press conference to mark the publication, BaFin President Mark Branson explained: “The environment in which companies in the financial sector have to operate is highly challenging because, for many risk drivers – such as climate change, geopolitical upheavals and quantum leaps in technological progress – we lack relevant historical experience. This makes it all the more important for companies in the financial sector to think in terms of scenarios, manage risks wisely and prepare themselves for potential shocks with well-stocked capital and liquidity buffers.”

    In 2025, BaFin will focus particularly on six risks

    In its outlook on risks, BaFin explains at the beginning of each year where the financial system in Germany is particularly vulnerable and which risks are most capable of jeopardising financial stability or the integrity of German financial markets. BaFin also highlights what it considers to be relevant trends that companies in the financial sector should be paying attention to. For financial institutions, the outlook provides a useful guideline for their own risk management. It also gives an overview of BaFin’s supervisory priorities for the current year.

    In total, BaFin is focusing on six risks and three trends for the German financial sector:

    Opportunities and risks from three trends

    Alongside these risks, BaFin has identified three trends that offer opportunities for the economy and the financial sector, but that also harbour considerable risks: sustainability issues, digitalisation and geopolitical upheavals. In addition to the physical risks of advancing climate change, BaFin also sees risks in the uncertainties and costs associated with the transition to a low-carbon economy (transition risks). In BaFin’s view, “greenwashing”, i.e. attempts to sell products based on unfounded claims that they are particularly environmentally friendly or responsible, also still poses risks.

    Digitalisation and geopolitics

    When it comes to digitalisation, BaFin is concerned with increasing cyber risks, the responsible use of artificial intelligence, volatility in the market valuation of cryptoassets and, most recently, the future use of quantum computers. Although high-performance quantum computers have yet to be used on a mass scale, in the interests of IT security, financial companies should already be preparing for their potential application. In the future, quantum computers will be able to crack data encryption methods that are currently considered secure. Criminals could therefore steal data now to decrypt later with the aid of quantum computing. The development of protection plans is therefore crucial.

    According to Branson, “Many companies are aware of all these risks and have invested in their IT security. It is important to us that companies continuously monitor current developments and threats. They must also prepare for crisis situations and adapt their security measures. This is what we expect of them. It is also what their customers expect of them.”

    In terms of geopolitics, clear trends towards market fragmentation and increasing tensions between countries were observed in 2024. This could continue, with repercussions for the entire financial system. Although they are not an independent risk type, geopolitical crises can influence and exacerbate other relevant risks. The German financial system is particularly susceptible because of Germany’s close international trade links and the high export dependency of its economy.

    Contact:Jacque­line Juk­nat

    Head of Communications
    Phone: +49 (0) 228 / 4108 – 4629

    Contact:Christoph Blu­men­thal

    Head of Press Relations and Social Media
    Phone: +49 (0) 228 4108-7094

    MIL OSI Economics –

  • MIL-OSI: Illumio Research Reveals 58% of Companies Hit With Ransomware Have Been Forced to Halt Operations

    Source: GlobeNewswire (MIL-OSI)

    SUNNYVALE, Calif., Jan. 28, 2025 (GLOBE NEWSWIRE) — Ransomware attacks are disrupting and undermining business operations and draining revenue streams, according to new research from the Ponemon Institute, commissioned by Illumio, Inc., the leader in breach containment.

    Findings from The Global Cost of Ransomware Study reveal that 58% of organizations had to shut down operations following a ransomware attack, up from 45% in 2021. Forty percent reported a significant loss of revenue (up from 22% in 2021); 41% lost customers; and 40% had to eliminate jobs.

    The research examined the scope of ransomware threats confronting organizations and the measures being implemented to reduce the risks and their impacts. Key findings include:

    • Attackers are reaching critical systems to cause maximum disruption: Ransomware attacks impacted 25% of critical systems, with systems down for 12 hours on average.
    • Organizations continue to spend significant time and money containing ransomware: On average, it took 17.5 people, 132 hours each to contain and remediate their largest ransomware attack.
    • Costs associated with reputation and brand damage now exceed those from legal and regulatory actions: 35% experienced significant brand damage from an attack (up from 21% in 2021).
    • Failure to prioritize investments that boost resilience is costing businesses: 44% lack the ability to quickly identify and contain attacks, and only 27% have implemented microsegmentation – a vital control for stopping the spread of breaches.

    “Ransomware is more pervasive and impactful than ever, with more organizations forced to suspend operations or experiencing major business failure because of attacks,” said Trevor Dearing, Director of Critical Infrastructure at Illumio. “Organizations need operational resilience and controls like microsegmentation that stop attackers from reaching critical systems. By containing attacks at the point of entry, organizations can protect critical systems and data, and save millions in downtime, lost business, and reputational damage.”

    Cloud and hybrid environments remain weak links, with attackers exploiting unpatched systems
    The increased connectivity of business systems and devices is making it harder for organizations to defend against ransomware attacks. Organizations perceive the cloud as being the most vulnerable, and 35% say a lack of visibility across hybrid environments makes it difficult to respond to ransomware attacks.

    Desktops and laptops remain the most compromised devices (50%), with phishing and Remote Desktop Protocol (RDP) cited as top entry points for ransomware. Most attacks moved across the network to infect other devices. In over half of these cases (52%), attackers exploited unpatched systems to move laterally and escalate system privileges; up significantly from 33% in 2021.

    Organizations are investing heavily in ransomware defense, but efforts are falling short
    According to the research, nearly a third of IT budgets (29%) are allocated to staff and technologies meant to prevent, detect, contain, and resolve ransomware attacks, yet attacks are still successful. Eighty-eight percent of organizations have fallen victim to a ransomware attack, despite 54% being confident in their security posture.

    Organizations are also taking a chance on ransomware recovery and failing. Fifty-two percent of respondents believe having a full and accurate backup is a sufficient defense against ransomware. Yet only 13% were able to recover all impacted data following a ransomware attack.

    The report also found larger organizational challenges in defending against ransomware including:

    • Ransomware reporting is still not happening: 72% of those that experienced a ransomware attack didn’t report it to law enforcement. Top reasons for not reporting include fear of publicizing the incident (39%); a payment deadline (38%); and fear of retaliation (38%). 
    • Employees are more security conscious, but still a weak link: 40% are confident in the ability of employees to detect social engineering lures (up from 30% in 2021), however, insider negligence is the top challenge when responding to ransomware attacks.
    • Organizations are slow to adopt AI to combat ransomware: Only 42% have specifically adopted AI to help combat ransomware. More (51%) are concerned their organization may experience an AI-generated ransomware attack.

    To learn more, download the full Global Cost of Ransomware Study here or check out the blog here.

    Research Methodology  
    The research was conducted by Ponemon Institute on behalf of Illumio among 2,547 IT and cybersecurity practitioners in the US, UK, Germany, France, Australia and Japan. All participants have responsibility for addressing ransomware attacks within their organizations.

    About Illumio  
    Illumio, the most comprehensive Zero Trust solution for ransomware and breach containment, protects organizations from cyber disasters and enables operational resilience without complexity. By visualizing traffic flows and automatically setting segmentation policies, the Illumio Zero Trust Segmentation Platform reduces unnecessary lateral movement across the multi-cloud and hybrid infrastructure, protecting critical resources and preventing the spread of cyberattacks. 

    Contact Information 
    Comms-team@illumio.com 

    About Ponemon Institute 
    Ponemon Institute is dedicated to independent research and education that advances responsible information and privacy management practices within business and government. Our mission is to conduct high quality, empirical studies on critical issues affecting the management and security of sensitive information about people and organizations.

    We uphold strict data confidentiality, privacy and ethical research standards. We do not collect any personally identifiable information from individuals (or company identifiable information in our business research). Furthermore, we have strict quality standards to ensure that subjects are not asked extraneous, irrelevant or improper questions.

    The MIL Network –

  • MIL-OSI: Finance Teams Prioritize ESG Reporting but Lack Adequate Technology, Finds insightsoftware Report

    Source: GlobeNewswire (MIL-OSI)

    RALEIGH, N.C., Jan. 28, 2025 (GLOBE NEWSWIRE) — insightsoftware, the most comprehensive provider of solutions for the Office of the CFO, today released its 2025 ESG Insights and Challenges Report. The report highlights the growing complexities that global organizations face in ESG reporting, including the challenges finance leaders experience gathering, integrating, and analyzing data from multiple sources.

    With the Corporate Sustainability Reporting Directive (CSRD) set to take effect in the EU in 2025, the research explores how unprepared organizations are to meet the new regulatory requirements. Notably, 52% of businesses rely on data from more than five sources for ESG reporting, underscoring significant hurdles to achieving compliance.

    This report reveals that while many organizations across the EU and the UK express confidence in their ability to comply with regulations like the CSRD, they struggle to find the right tools to accomplish the necessary compliance tasks. In fact, 58% of organizations are already exploring new technology to enhance their ESG reporting capabilities. Complying with regulations like the CSRD and overcoming reporting roadblocks remain highly important for global organizations to meet their ESG goals.

    Key findings from the report include:

    • Technology capabilities are lacking: With 92% of organizations concerned that their ESG reporting processes won’t scale to meet future regulatory demands, organizations are finding it increasingly difficult to identify the necessary tools tailored to their operational needs. They cite data security and privacy concerns as the most prevalent issue (59%), given the sensitive nature of ESG data and regulatory scrutiny.
    • The compliance path forward is uncertain: Companies that do business in the EU need to comply with CSRD, however more than half of decision-makers remain heavily uncertain and confused about its requirements (52%). The primary goal of ESG reporting is to improve transparency and stakeholder engagement say 49%, and 86% of ESG decision-makers overwhelmingly value data visualization and dashboards as the most valuable features in an ESG technology solution.
    • Complex, timely processes hinder ESG reporting success: Amidst the digitalization wave, organizations fight against a steady influx of data. Data collection is the biggest hurdle, responded 95% of decision-makers. In fact, over half (52%) report spending more than four weeks each year solely on collecting data.

    “Without the proper tools, global businesses risk hampering their organization’s ability to comply with ESG regulatory requirements,” said insightsoftware General Manager, EPM & Controllership, Monica Boydston. “This is why tools like the insightsoftware ESG Reporting Solution are crucial to enable teams to seamlessly collect, consolidate, analyze, and disclose ESG data from any source, reducing the risk of non-compliance and costly reporting errors.”

    Leveraging established technologies in close and consolidation, disclosure management, and business intelligence (BI) that are trusted by thousands of customers worldwide, insightsoftware ESG provides the controls, audit trails, and security necessary for delivering investor-grade data and meeting regulatory filing requirements. It enables businesses to effectively measure the impact of their ESG initiatives, helping to attract ESG-focused investors.

    Download the complete findings of the 2025 ESG Insights & Challenges Report here to learn how finance decision-makers can begin to address their ESG reporting challenges.

    To explore insightsoftware ESG and how it can better support an organization’s sustainability goals from data collection to compliance and stakeholder communication, visit here.

    Research Methodology
    insightsoftware’s 2025 ESG Insights & Challenges report was developed in coordination with Hanover Research. It was conducted to gain insights into the current trends and challenges facing finance leaders. To achieve this objective, a quantitative survey was administered to a sample of 400 ESG decision-makers across France, Germany, Finland, Sweden, and the UK. The survey targeted professionals at the director level or higher from organizations with over 500 employees, spanning accounting, finance, compliance, executive teams, regulatory affairs, and sustainability roles.

    About insightsoftware

    insightsoftware is a global provider of comprehensive solutions for the Office of the CFO. We believe an actionable business strategy begins and ends with accessible financial data. With solutions across financial planning and analysis (FP&A), accounting, and operations, we transform how teams operate, empowering leaders to make timely and informed decisions. With data at the heart of everything we do, insightsoftware enables automated processes, delivers trusted insights, boosts predictability, and increases productivity. Learn more at insightsoftware.com.

    Media Contacts
    Inkhouse for insightsoftware
    insightsoftware@inkhouse.com  

    Daniel Tummeley
    Corporate Communications Manager
    PR@insightsoftware.com

    The MIL Network –