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  • MIL-Evening Report: Reserve Bank says unemployment rise was not a shock, inflation on track

    Source: The Conversation (Au and NZ) – By John Hawkins, Head, Canberra School of Government, University of Canberra

    Reserve Bank Governor Michele Bullock has fleshed out the central bank’s thinking behind its surprise decision to keep interest rates on hold this month.

    In a speech today to the Anika Foundation, Bullock said there has been:

    meaningful progress in bringing inflation down.

    But the Reserve Bank is waiting for confirmation that underlying inflation has actually moved back towards the mid-point of its 2% to 3% target band:

    We still think it will show inflation declining slowly towards 2.5%, but we are looking for data to support this expectation.

    The governor was pleased to see the progress on inflation did not come at the cost of jobs growth. Employment has remained around an all-time high as a proportion of the population. Comparable countries have not managed as well as this.

    The Reserve Bank has cut interest rates twice this year, and said policy is leaning towards further cuts by the end of the year.

    The dual mandate

    The Reserve Bank’s 2-3% inflation target is well known. But it is not the sole focus of policymakers. The bank actually has a dual mandate of inflation and employment, which was the topic of Bullock’s annual speech to Sydney’s financial community.

    The Reserve Bank Act charges the bank’s monetary policy board with setting monetary policy:

    in a way that, in the Board’s opinion, best contributes to:

    (i) price stability in Australia; and

    (ii) the maintenance of full employment in Australia.

    Full employment has been enshrined in legislation as a goal of the central bank since the 1940s.

    Last week, the monthly employment report unexpectedly showed a jump in unemployment to 4.3% in June after five months as 4.1% as more people looked for work.

    In her speech, Bullock said while some of the coverage suggested the increase was a shock, the employment figures over the whole of the June quarter were in line with the bank’s forecasts.

    She did not think it would have meant a different decision at the last board meeting if it had been known then.

    Are the twin goals in conflict or complementary?

    Some other central banks, such as the US Federal Reserve, also have dual mandates.

    In the long run, there is no conflict between these goals. In the governor’s words:

    Low and stable inflation – or price stability – is a prerequisite for strong and sustainable employment growth because it creates favourable conditions for households and businesses to plan, invest and create jobs without having to worry about inflation.

    Even in the short run, the two goals often involve no conflict. When the economy is overheating, inflation is high and unemployment low, so it is clear interest rates should be raised. During a recession, inflation is low and unemployment high, so it is clear interest rates should be lowered.

    But there are times when the implications from the two goals clash. A surge in oil prices, for example, could lead to both higher inflation (suggesting interest rates should be raised) and weaker economic activity (suggesting interest rates should be lowered).

    The governor said the bank’s response may depend on the likely longevity of such a shock:

    If a supply disruption is temporary and modest, monetary policy should mostly ‘look through’ it. Raising interest rates makes little sense if inflation is expected to ease once temporary supply disruptions are resolved – it would only weaken the job market.

    By contrast, when a supply shock is likely to have a longer lasting effect on the economy and inflation there may be stronger grounds for monetary policy to respond.

    The outlook

    In its latest published forecasts, in May, the bank said that if, as markets expected, it lowers its cash rate target to 3.4% by the end of the year, then unemployment would rise marginally, to 4.3%, while its preferred measure of underlying inflation drops to 2.6%.

    The Reserve Bank will release its updated forecasts after its next policy meeting on August 12, when it is also expected to cut interest rates.

    Better monthly inflation data on the way

    The Reserve Bank governor has made clear she regards the quarterly inflation series as a better guide than the current monthly series. At her May press conference she said:

    We get four readings on inflation a year.

    The Australian Bureau of Statistics has announced it is upgrading the monthly consumer price index (CPI) with effect from the October 2025 reading. It will then have the same coverage as the current quarterly CPI. But it will still be a more volatile measure than the quarterly.

    The bank will go through a learning experience becoming familiar with the new monthly series.



    Read more:
    Australia’s inflation rate is to go monthly. Be careful what you wish for

    John Hawkins was formerly a senior economist at the Reserve Bank.

    – ref. Reserve Bank says unemployment rise was not a shock, inflation on track – https://theconversation.com/reserve-bank-says-unemployment-rise-was-not-a-shock-inflation-on-track-261759

    MIL OSI Analysis – EveningReport.nz –

  • Israeli strike kills hungry Gaza family in their sleep

    Source: Government of India

    Source: Government of India (4)

    The Al-Shaer family went to bed hungry at their home in Gaza City. An Israeli airstrike killed them in their sleep.

    The family – freelance journalist Wala al-Jaabari, her husband and their five children – were among more than 100 people killed in 24 hours of Israeli strikes or gunfire, according to health officials.

    Their corpses lay in white shrouds outside their bombed home on Wednesday with their names scribbled in pen. Blood seeped through the shrouds as they lay there, staining them red.

    “This is my cousin. He was 10. We dug them out of the rubble,” Amr al-Shaer, holding one of the bodies after retrieving it.

    Iman al-Shaer, another relative who lives nearby, said the family hadn’t eaten anything before the bombs came down. “The children slept without food,” he said.

    The Israeli military did not immediately comment on the strike at the family’s home, but said its air force had struck 120 targets throughout Gaza in the past day, including “terrorist cells, military structures, tunnels, booby-trapped structures, and additional terrorist infrastructure sites”.

    Relatives said some neighbours were spared only because they had been out searching for food at the time of the strike.

    Ten more Palestinians died overnight from starvation, the Gaza health ministry said, bringing the total number of people who have starved to death to 111, most of them in recent weeks as a wave of hunger crashes on the Palestinian enclave.

    The World Health Organization said on Wednesday 21 children under the age of five were among those who died of malnutrition so far this year. It said it had been unable to deliver any food for nearly 80 days between March and May and that a resumption of food deliveries was still far below what is needed.

    In a statement on Wednesday, 111 organisations, including Mercy Corps, the Norwegian Refugee Council and Refugees International, said mass starvation was spreading even as tons of food, clean water and medical supplies sit untouched just outside Gaza, where aid groups are blocked from accessing them.

    Israel, which cut off all supplies to Gaza from the start of March and reopened it with new restrictions in May, says it is committed to allowing in aid but must control it to prevent it from being diverted by militants. It says it has let enough food into Gaza during the war and blames Hamas for the suffering of Gaza’s 2.2 million people.

    Israel has also accused the United Nations of failing to act in a timely fashion, saying 700 truckloads of aid are idling inside Gaza. “It is time for them to pick it up and stop blaming Israel for the bottlenecks which are occurring,” Israeli government spokesman David Mercer said on Wednesday.

    The United Nations and aid groups trying to deliver food to Gaza say Israel, which controls everything that comes in and out, is choking delivery, and Israeli troops have shot hundreds of Palestinians dead close to aid collection points since May.

    “We have a minimum set of requirements to be able to operate inside Gaza,” Ross Smith, the director of emergencies at the U.N. World Food Programme, told Reuters. “One of the most important things I want to emphasize is that we need to have no armed actors near our distribution points, near our convoys.”

    Israel’s U.N. Ambassador Danny Danon told the Security Council on Wednesday that Israel will now grant only one-month visas to international staff from the United Nations Office for the Coordination of Humanitarian Affairs.

    FALTERING PEACE TALKS

    The war between Israel and Hamas has been raging for nearly two years since Hamas killed some 1,200 Israelis and took 251 hostages from southern Israel in the deadliest attack in Israel’s history.

    Israel has since killed nearly 60,000 Palestinians in Gaza, decimated Hamas as a military force, reduced most of the territory to ruins and forced nearly the entire population to flee their homes multiple times.

    U.S. Middle East peace envoy Steve Witkoff is expected to hold new ceasefire talks, travelling to Europe this week for meetings on the Gaza war and a range of other issues, a U.S. official said on Tuesday.

    A Palestinian official close to the Gaza ceasefire talks and the mediation efforts told Reuters on Wednesday that Hamas had handed its response on the ceasefire proposal to mediators, declining to elaborate further.

    Talks on a proposal for a 60-day ceasefire between Israel and Hamas, which would include the release of more of the 50 hostages still being held in Gaza, are being mediated by Qatar and Egypt with Washington’s backing.

    Successive rounds of negotiations have achieved no breakthrough since the collapse of a ceasefire in March.

    Israel’s President Isaac Herzog told soldiers during a visit to Gaza on Wednesday that “intensive negotiations” about returning the hostages held there were underway and he hoped that they would soon “hear good news”, according to a statement.

    A senior Palestinian official earlier told Reuters Hamas might give mediators a response to the latest proposals in Doha later on Wednesday, on the condition that amendments be made to two major sticking points: details on an Israeli military withdrawal, and on how to distribute aid during a truce.

    Israeli Prime Minister Benjamin Netanyahu’s cabinet includes far-right parties that oppose any agreement that ends without the total destruction of Hamas.

    “The second I spot weakness in the prime minister and if I come to think, heaven forbid, that this is about to end with us surrendering instead of with Hamas’s absolute surrender, I won’t remain (in the government) for even a single day,” Finance Minister Belalel Smotrich told Army Radio.

    (Reuters)

  • Thailand F-16 jet deployed against Cambodian forces as border clash escalates

    Source: Government of India

    Source: Government of India (4)

    A Thai F-16 fighter jet bombed targets in Cambodia on Thursday, both sides said, as weeks of tension over a border dispute escalated into clashes that have killed at least two civilians.

    Of the six F-16 fighter jets that Thailand readied to deploy along the disputed border, one of the aircraft fired into Cambodia and destroyed a military target, the Thai army said. Both countries accused each other of starting the clash early on Thursday.

    “We have used air power against military targets as planned,” Thai army deputy spokesperson Richa Suksuwanon told reporters. Thailand also closed its border with Cambodia.

    Cambodia’s defence ministry said the jets dropped two bombs on a road, and that it “strongly condemns the reckless and brutal military aggression of the Kingdom of Thailand against the sovereignty and territorial integrity of Cambodia”.

    The skirmishes came after Thailand recalled its ambassador to Cambodia late on Wednesday and said it would expel Cambodia’s envoy in Bangkok, after a second Thai soldier in the space of a week lost a limb to a landmine that Bangkok alleged had been laid recently in the disputed area.

    Thai residents in the Surin border province fled to shelters built of concrete and fortified with sandbags and car tires as the two countries exchanged fire.

    “How many rounds have been fired? It’s countless,” an unidentified woman told the Thai Public Broadcasting Service (TPBS) while hiding in the shelter with gunfire and explosions heard intermittently in the background.

    For more than a century, Thailand and Cambodia have contested sovereignty at various undemarcated points along their 817 km (508 miles) land border, which has led to skirmishes over several years and at least a dozen deaths, including during a weeklong exchange of artillery in 2011.

    Tensions were reignited in May following the killing of a Cambodian soldier during a brief exchange of gunfire, which escalated into a full-blown diplomatic crisis and now has triggered armed clashes.

    LANDMINES

    The clashes began early on Thursday near the disputed Ta Moan Thom temple along the eastern border between Cambodia and Thailand, around 360 km from the Thai capital Bangkok.

    “Artillery shell fell on people’s homes,” Sutthirot Charoenthanasak, district chief of Kabcheing in Surin province, told Reuters, describing the firing by the Cambodian side.

    “Two people have died,” he said, adding that district authorities had evacuated 40,000 civilians from 86 villages near the border to safer locations.

    Thailand’s military said Cambodia deployed a surveillance drone before sending troops with heavy weapons to an area near the temple.

    Cambodian troops opened fire and two Thai soldiers were wounded, a Thai army spokesperson said, adding Cambodia had used multiple weapons, including rocket launchers.

    A spokesperson for Cambodia’s defence ministry, however, said there had been an unprovoked incursion by Thai troops and Cambodian forces had responded in self-defence.

    Thailand’s acting Prime Minister Phumtham Wechayachai said the situation was delicate.

    “We have to be careful,” he told reporters. “We will follow international law.”

    An attempt by Thai premier Paetongtarn Shinawatra to resolve the recent tensions via a call with Cambodia’s influential former Prime Minister Hun Sen, the contents of which were leaked, kicked off a political storm in Thailand, leading to her suspension by a court.

    Hun Sen said in a Facebook post that two Cambodian provinces had come under shelling from the Thai military.

    Thailand this week accused Cambodia of placing landmines in a disputed area that injured three soldiers. Phnom Penh denied the claim and said the soldiers had veered off agreed routes and triggered a mine left behind from decades of war.

    Cambodia has many landmines left over from its civil war decades ago, numbering in the millions according to de-mining groups.

    But Thailand maintains landmines have been placed at the border area recently, which Cambodia has described as baseless allegations.

    (Reuters) 

  • MIL-OSI China: Barcelona confirm Marcus Rashford loan signing

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

    FC Barcelona confirmed the loan signing of England international forward Marcus Rashford from Manchester United on Wednesday with a video in which the player said the news was “official.”

    Rashford joins the La Liga and Copa del Rey champion on an initial one-season loan, with Barcelona having the option to make the move permanent for around 35 million euros. However, there is also a clause that means the club has to pay compensation if it opts against this.

    Manchester United’s Marcus Rashford (L) breaks through during the FA Cup quarterfinal match between Manchester United and Liverpool in Manchester, Britain, on March 17, 2024. (Xinhua)

    “What the club stands for means a lot for me. I feel like I am at home and a big factor in my choice to come here because it is a family place and a good place for good players to showcase their skills,” said Rashford at his presentation.

    “To be here is everything I wished and thought. I’m eager to get going and keep learning the Barcelona way as I go and be ready for the games,” he continued, adding that the chance to work with Barca coach Hansi Flick was another key reason for his decision.

    “What he did last season was terrific. In his career he’s proved he’s one of the top coaches, to lead such a young team to a very successful season,” commented the forward.

    The 27-year-old, who passed his medical tests in Barcelona on Monday, is rumored to have taken a 15 percent pay cut in order to complete the move after falling out of favor with United coach Ruben Amorim last season and spending the second half of the campaign on loan at Aston Villa.

    He will now form part of the squad that travels to Asia on Thursday to play matches in both South Korea and Japan.

    Rashford’s signing at Barcelona comes after the club suffered an embarrassing failure to sign Spain international Nico Williams from Athletic Bilbao for the second consecutive summer, with Williams opting to sign a new contract with Athletic.

    Meanwhile, efforts to bring in Colombian winger Luis Diaz were frustrated by Barca’s economic situation, which made it impossible for the club to get close to Liverpool’s demands.

    Rashford becomes the first English player to join FC Barcelona since Gary Lineker was at the club between 1986-1989 and only the second Englishman to play for them in over 100 years, with Harold Stamper the last previous Englishman after a season at Barcelona between 1922 and 1923.

    MIL OSI China News –

  • MIL-OSI China: Poland edge China to reach Women’s VNL semifinals

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

    Host Poland battled past China in a thrilling five-set quarterfinal, winning 17-25, 25-20, 19-25, 25-19, 15-12 in the FIVB Women’s Volleyball Nations League (VNL) on Wednesday evening in Lodz to secure a spot in the semifinals.

    Opposite hitter Magdalena Stysiak led the Polish side with 25 points, including 22 kills and three blocks. Outside hitter Martyna Czyrnianska added 16 points. For China, outside hitter Wu Mengjie delivered an impressive performance with a match-high 25 points, while Zhuang Yushan added 20.

    Coming off a 3-1 victory over China in a friendly on Saturday, Poland entered the match as slight favorites. However, it was China who came out strong in the opening set, fueled by Wu’s sharp attacks. She scored 10 points in the set, helping China establish a 19-14 lead before closing it out 25-17.

    China continued their momentum early in the second set, taking a 5-2 advantage after a spike from Chen Houyu. But Poland rallied back, drawing level at 14-14 thanks to a powerful attack from Martyna Lukasik. Momentum shifted in favor of the hosts as Czyrnianska registered a key block and Stysiak added timely offense to push Poland ahead. Lukasik sealed the set with back-to-back spikes, giving Poland a 25-20 win.

    In the third set, China capitalized on a string of unforced errors from Poland to race ahead 13-5. Maintaining their advantage throughout, China regained the lead in sets with a 25-19 win.

    The fourth set saw Poland respond with renewed energy. Paulina Damaske’s spike and service ace helped the home team build an 18-12 cushion. Although China fought back to narrow the gap to 21-19, Poland surged with four straight points to take the set 25-19, forcing a decider.

    In the tiebreak, Poland met the expectations of their home crowd at Atlas Arena. A block from Stysiak and another strong finish from Damaske gave them a 7-4 lead. Though China closed the deficit to 10-9 after a Stysiak error, Damaske delivered a key solo block to make it 13-10 and later sealed the match with a powerful spike, clinching the final set 15-12.

    “It was a tough challenge. We struggled during the match, so we’re very happy with the victory,” said Polish setter Alicja Grabka in a post-match interview with Polsat TV. “We overcame a difficult situation as we were behind. For me, playing in that kind of match was a dream come true. I’m very proud I could help the team.”

    Earlier in the day, Italy advanced to the semifinals after sweeping the United States 3-0 (25-22, 25-21, 28-26). Opposite spiker Paola Egonu starred with a match-high 20 points, while Avery Skinner led the Americans with 11.

    The remaining quarterfinal matchups will take place on Thursday, with Japan facing Turkiye and Brazil taking on Germany.

    MIL OSI China News –

  • MIL-OSI Submissions: Historic ruling finds climate change ‘imperils all forms of life’ and puts laggard nations on notice

    Source: The Conversation – Global Perspectives – By Jacqueline Peel, Professor of Law and Director, Melbourne Climate Futures, The University of Melbourne

    Hilaire Bule/Getty

    Climate change “imperils all forms of life” and countries must tackle the problem or face consequences under international law, the International Court of Justice (ICJ) has found.

    The court delivered its long-awaited advisory opinion overnight. The momentous case opens the door for countries impacted by climate disasters to sue major emitting countries for reparations.

    And citizens could seek to hold governments to account for a failure to safeguard their human rights if their own or other countries fail to take adequate action to ensure a safe climate.

    Here’s what the court ruled – and the global ramifications likely to flow from it.

    Vanuatu’s Climate Change Minister Ralph Regenvanu delivers a speech at a demonstration before the International Court of Justice issued its first advisory opinion on state’s legal obligations to address climate change.
    John Thys/AFP

    Climate change breaches human rights

    The ICJ case was instigated by law students at the University of the South Pacific in Vanuatu in 2019. They successfully launched a campaign for the court to examine two key issues: the obligations of countries to protect the climate from greenhouse gases, and the legal consequences for failing to do so.

    The court found a clean, healthy and sustainable environment is essential for the enjoyment of many other human rights. As such, it found, the full enjoyment of human rights cannot be ensured without the protection of the climate system and other parts of the environment.

    The ruling confirms climate change is much more than a legal problem. Rather, the justices concluded, it is an:

    existential problem of planetary proportions that imperils all forms of life and the very health of our planet.

    Most nations have signed up to global human rights agreements such as the International Covenant on Civil and Political Rights. The ICJ ruling means parties to those agreements must take measures to protect the climate system and other parts of the environment.

    An advisory opinion from the International Court of Justice is not legally binding. But it is an authoritative description of the state of the law and the rights of countries to seek reparations if the law is breached. As such, it carries great legal weight.

    Just as climate science assessments of the Intergovernmental Panel on Climate Change have become the gold standard for understanding the causes and impacts of climate change, the court’s ruling provides a clear baseline against which to assess countries’ action, or inaction, on climate change.

    Keeping 1.5°C alive?

    In recent years, many states’ emissions reduction targets under the Paris Agreement have seemed to “settle” at levels which would hold global temperature increases to 2°C at best.

    But the International Court of Justice ruled the much more ambitious 1.5°C goal had become the scientifically based consensus target under the Paris Agreement.

    Some countries argued formal emissions targets should be left to the discretion of each government. However, the court found against this. Rather, each nation’s targets had to be in line with – and make an adequate contribution to – the global goal of holding heating to 1.5°C.

    The court found each state’s emissions reduction pledges should be judged against a stringent “due diligence” standard. The standard takes into account each country’s historical contributions to emissions, level of development and national circumstances, among other factors.

    The ruling means rich countries, such as Australia, will be required under international law to make more ambitious emission-reduction pledges under the Paris Agreement, such as for the 2035 target currently under consideration by the Albanese government.

    The court decision also provides a measure of climate justice for small island states, which have historically low emissions but face a much higher risk of damage from climate change than other nations.

    Holding states accountable for inaction

    Because climate change is global, it is difficult – but not impossible – to attribute damage from extreme weather to the actions of any one nation or group of nations.

    On this question, the court said while climate change is caused by the cumulative impact of many human activities, it is scientifically possible to determine each nation’s total contribution to global emissions, taking into account both historical and current emissions.

    If a nation experiences damage caused by the failure of another nation, or group of nations, to fulfil international climate obligations, the ruling means legal proceedings may be launched against the nations causing the harm. It may result in compensation or other remedies.

    For small, climate-vulnerable nations such as those in the Alliance of Small Island States, this opens more legal options in their efforts to encourage high-emitting nations to properly address climate change.

    Importantly, the court made clear nations can be legally liable even if damage from climate change comes from many causes, including from the activities of private actors such as companies.

    That means nations cannot seek an exemption because others have contributed to the problem. They must also act to regulate companies and other entities under their jurisdiction whose activities contribute to climate change.

    Pacific Island nations emit very little but face huge threats from climate change.
    Luca Turati/Unsplash, CC BY-NC-ND

    Paris Agreement quitters aren’t safe

    One line of argument put to the court by Australia and other states was that climate treaties represented the only obligations to tackle climate change under international law.

    But the court found this was not the case. Rather, other international laws applied.

    The United States pulled out of the Paris Agreement earlier this year. The court’s opinion means the US and other nations are still accountable for climate harms under other international laws by which all countries are bound.

    Could this lead to greater climate action?

    The International Court of Justice has produced a truly historic ruling.

    It will set a new baseline in terms what countries need to do to address climate change and opens up new avenues of recourse against high-emitting states not doing enough on climate change.

    Jacqueline Peel receives funding from the Australian Research Council under her Australian Laureate Fellowship and Kathleen Fitzpatrick Award on ‘Transforming International Law for Corporate Climate Accountability’.

    – ref. Historic ruling finds climate change ‘imperils all forms of life’ and puts laggard nations on notice – https://theconversation.com/historic-ruling-finds-climate-change-imperils-all-forms-of-life-and-puts-laggard-nations-on-notice-261848

    MIL OSI –

  • UAE Central Bank mandates phase-out of SMS and email OTP authentication by March 2026

    Source: Government of India

    Source: Government of India (4)

    The Central Bank of the United Arab Emirates (CBUAE) has issued a directive requiring all financial institutions to eliminate SMS and email-based one-time password (OTP) authentication for customer transactions by March 31, 2026. This move, aimed at bolstering digital banking security, will affect banks, finance companies, exchange houses, insurers, and payment service providers across the UAE, marking a significant shift toward more secure, risk-based authentication technologies.

    Traditional OTP methods, delivered via SMS or email, are increasingly vulnerable to phishing, SIM swapping, and SS7 protocol exploits. To counter these threats, the CBUAE is mandating the adoption of advanced authentication methods, such as Emirates Face Recognition, biometric verification, and mobile-based soft tokens.

    Starting July 25, 2025, UAE banks will begin transitioning customers to app-based authentication for all domestic and international financial transactions. Leading institutions like Emirates NBD, ADIB, and FAB have already adopted biometric and in-app solutions for most online banking activities. Customers will need to enable app-based verification features to authorize transactions, replacing the reliance on SMS or email OTPs. The CBUAE has set a phased implementation, with full compliance required by March 2026.

    The UAE’s move aligns with global trends, as countries like Singapore and Malaysia phase out SMS-based OTPs due to similar security concerns. The Monetary Authority of Singapore, for instance, mandated a similar shift in 2024, citing rising phishing scams. The CBUAE’s directive is part of its broader Financial Infrastructure Transformation (FIT) Programme, which includes initiatives like the planned launch of a retail central bank digital currency (CBDC), the digital dirham, in late 2025.

  • MIL-OSI Asia-Pac: Waste Generation Rate Continues To Trend Downwards In 2024

    Source: Government of Singapore

    Per capita daily domestic waste decreased by more than 20 per cent over the past decade; per billion dollar GDP daily non-domestic waste decreased by more 30 per cent over the same period. The recycling rate continues to hover around 50 per cent. 

    Singapore, 23 July 2025 – Singapore continued to see a decrease in waste generation rate in 2024. The daily domestic waste generated per capita decreased from 0.88 kg in 2023 to 0.85 kg in 2024. The daily non-domestic waste  generated per billion dollar Gross Domestic Product (GDP) decreased from around 25 tonnes in 2023 to around 23 tonnes in 2024. This reflects the sustained reduction and reuse efforts by households and businesses in 2024.

    Per capita and per billion dollar GDP waste generated decreased in past decade

    2          Over the past decade, daily domestic waste generated per capita decreased by more than 20 per cent, and daily non-domestic waste generated per billion dollar GDP decreased by more than 30 per cent.

    Fig. 1. Chart on the daily domestic waste generated per capita from 2014 to 2024.

    Fig. 2. Chart on the daily non-domestic waste generated per billion dollar GDP from 2014 to 2024.

    Recycling rate continues to hover at around 50 per cent

    3          Overall recycling rate continues to hover at around 50 per cent (refer to Table 1 in 

    Annex). The recycling rate of paper/cardboard, food, and plastics remained similar. The slight reduction in recycling rate is driven largely by the reduction in the amount of Construction & Demolition (C&D) waste (by 122,000 tonnes) and used slag (by 63,000 tonnes) generated, which are almost completely recycled. This resulted in a corresponding reduction in overall recycling volume. Additionally, there was a reduction in the amount of wood waste recycled, by 49,000 tonnes, due to a short-term reduction in wood waste processing capacity in 2024 as a result of the closure of one biomass plant and prolonged maintenance of another.

    10-year Recycling Trends

    4          Over the past decade, the recycling rate dropped from 60 per cent in 2014 to 50 per cent in 2024 (refer to Table 2 in Annex). This is driven by two factors.

    a.     There was a 44 per cent and 69 per cent decrease in the volume of C&D waste and used slag generation, respectively. As C&D waste and used slag are almost fully recycled, the decrease in volume generated and consequently recycled led to a significant reduction (7 percentage points) in the overall recycling rate (refer to Chart 1 and Chart 2 in Annex). This is due to the reduction in C&D waste volume generated from demolition projects in recent years, while the lower amount of used slag generated is due to a reduction in steel smelting activities in Singapore. 

    b.     The amount of paper/cardboard waste generated has been similar between 2014 and 2024, although paper waste generated had been on a downtrend from 2014 to 2019, before rising again post-2019 driven in part by e-commerce packaging. However, there has been a steep reduction in the paper recycling rate, from 52 per cent to 32 per cent (refer to Chart 3 in Annex). The decline is driven by factors such as the cost of collecting and freight as well as commodity prices.

    Upcoming efforts to improve recycling of key waste streams

    5          NEA will continue to partner the community and businesses to encourage the reduction of waste generated and to increase recycling efforts. Our efforts will be focused on food, paper, and plastics as these make up the largest amount of waste that is not recycled.

    a.     The recycling rate for food waste increased from 13 per cent in 2014 to 18 per cent in 2024. To drive the reduction and recycling of food waste, all new large commercial and industrial food waste generators have been required since March 2024 to segregate, treat and report their food waste. In addition, we will progressively extend these requirements to existing large commercial and industrial food waste generators in tandem when the Food Waste Treatment Facility becomes operational, as we progressively complete the Integrated Waste Management Facility (IWMF) from 2027 onwards.

    b.     To encourage reduction in paper/cardboard waste and improve recycling rates, NEA supported the development of a set of Guidelines on Sustainable E-commerce Packaging in March 2025. The guidelines offer practical 3R (Reduce, Reuse, Recycle) strategies tailored to common types of e-commerce packaging, including cardboard boxes. Furthermore, NEA is looking to strengthen support for paper recycling, working together with waste collectors, recycling companies, and the community.

    c.     We will also increase plastic recycling through initiatives such as the beverage container return scheme, which will take effect next year. Under the scheme, a 10-cent deposit will be fully refunded when consumers return the empty beverage containers at designated return points such as reverse vending machines. The scheme will aggregate clean and high-quality plastic recyclables, which can be made into new products. NEA is working with the licensed scheme operator, Beverage Container Return Scheme Ltd. (BCRS Ltd.) on the return point network and deposit refund options to provide a convenient return and refund journey for consumers, when the scheme rolls out on 1 April 2026.

    Waste Disposed of

    6          Our combined commitment to reducing the amount of waste generated and improving recycling efforts is reflected in the waste disposed of at our waste-to-energy plants and Semakau Landfill. While the waste disposal rate has similarly trended downwards in the last decade, the total amount of waste disposed of has increased from 3.04 million tonnes in 2014 to 3.33 million tonnes in 2024. This is due to the recycling amount declining faster than the total amount of waste generated. Hence, the net effect is an increase in the total amount of waste disposed of. When everyone plays their part to reduce, reuse, and recycle, we avoid sending waste for disposal, thus reducing our environmental footprint and extending the lifespan of Semakau Landfill.

    7          The latest waste and recycling statistics can be accessed at go.gov.sg/waste-statistics-and-overall-recycling.

     

    ——————

    [1] Domestic waste is waste collected from households and trade premises (e.g., shophouses, educational institutions, petrol stations, hawker centres and places of worship).

    [2] Non-domestic waste is waste generated at industrial and commercial premises.

     

    ~~ End ~~

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    MIL OSI Asia Pacific News –

  • MIL-Evening Report: Historic ruling finds climate change ‘imperils all forms of life’ and puts laggard nations on notice

    Source: The Conversation (Au and NZ) – By Jacqueline Peel, Professor of Law and Director, Melbourne Climate Futures, The University of Melbourne

    Hilaire Bule/Getty

    Climate change “imperils all forms of life” and countries must tackle the problem or face consequences under international law, the International Court of Justice (ICJ) has found.

    The court delivered its long-awaited advisory opinion overnight. The momentous case opens the door for countries impacted by climate disasters to sue major emitting countries for reparations.

    And citizens could seek to hold governments to account for a failure to safeguard their human rights if their own or other countries fail to take adequate action to ensure a safe climate.

    Here’s what the court ruled – and the global ramifications likely to flow from it.

    Vanuatu’s Climate Change Minister Ralph Regenvanu delivers a speech at a demonstration before the International Court of Justice issued its first advisory opinion on state’s legal obligations to address climate change.
    John Thys/AFP

    Climate change breaches human rights

    The ICJ case was instigated by law students at the University of the South Pacific in Vanuatu in 2019. They successfully launched a campaign for the court to examine two key issues: the obligations of countries to protect the climate from greenhouse gases, and the legal consequences for failing to do so.

    The court found a clean, healthy and sustainable environment is essential for the enjoyment of many other human rights. As such, it found, the full enjoyment of human rights cannot be ensured without the protection of the climate system and other parts of the environment.

    The ruling confirms climate change is much more than a legal problem. Rather, the justices concluded, it is an:

    existential problem of planetary proportions that imperils all forms of life and the very health of our planet.

    Most nations have signed up to global human rights agreements such as the International Covenant on Civil and Political Rights. The ICJ ruling means parties to those agreements must take measures to protect the climate system and other parts of the environment.

    An advisory opinion from the International Court of Justice is not legally binding. But it is an authoritative description of the state of the law and the rights of countries to seek reparations if the law is breached. As such, it carries great legal weight.

    Just as climate science assessments of the Intergovernmental Panel on Climate Change have become the gold standard for understanding the causes and impacts of climate change, the court’s ruling provides a clear baseline against which to assess countries’ action, or inaction, on climate change.

    Keeping 1.5°C alive?

    In recent years, many states’ emissions reduction targets under the Paris Agreement have seemed to “settle” at levels which would hold global temperature increases to 2°C at best.

    But the International Court of Justice ruled the much more ambitious 1.5°C goal had become the scientifically based consensus target under the Paris Agreement.

    Some countries argued formal emissions targets should be left to the discretion of each government. However, the court found against this. Rather, each nation’s targets had to be in line with – and make an adequate contribution to – the global goal of holding heating to 1.5°C.

    The court found each state’s emissions reduction pledges should be judged against a stringent “due diligence” standard. The standard takes into account each country’s historical contributions to emissions, level of development and national circumstances, among other factors.

    The ruling means rich countries, such as Australia, will be required under international law to make more ambitious emission-reduction pledges under the Paris Agreement, such as for the 2035 target currently under consideration by the Albanese government.

    The court decision also provides a measure of climate justice for small island states, which have historically low emissions but face a much higher risk of damage from climate change than other nations.

    Holding states accountable for inaction

    Because climate change is global, it is difficult – but not impossible – to attribute damage from extreme weather to the actions of any one nation or group of nations.

    On this question, the court said while climate change is caused by the cumulative impact of many human activities, it is scientifically possible to determine each nation’s total contribution to global emissions, taking into account both historical and current emissions.

    If a nation experiences damage caused by the failure of another nation, or group of nations, to fulfil international climate obligations, the ruling means legal proceedings may be launched against the nations causing the harm. It may result in compensation or other remedies.

    For small, climate-vulnerable nations such as those in the Alliance of Small Island States, this opens more legal options in their efforts to encourage high-emitting nations to properly address climate change.

    Importantly, the court made clear nations can be legally liable even if damage from climate change comes from many causes, including from the activities of private actors such as companies.

    That means nations cannot seek an exemption because others have contributed to the problem. They must also act to regulate companies and other entities under their jurisdiction whose activities contribute to climate change.

    Pacific Island nations emit very little but face huge threats from climate change.
    Luca Turati/Unsplash, CC BY-NC-ND

    Paris Agreement quitters aren’t safe

    One line of argument put to the court by Australia and other states was that climate treaties represented the only obligations to tackle climate change under international law.

    But the court found this was not the case. Rather, other international laws applied.

    The United States pulled out of the Paris Agreement earlier this year. The court’s opinion means the US and other nations are still accountable for climate harms under other international laws by which all countries are bound.

    Could this lead to greater climate action?

    The International Court of Justice has produced a truly historic ruling.

    It will set a new baseline in terms what countries need to do to address climate change and opens up new avenues of recourse against high-emitting states not doing enough on climate change.

    Jacqueline Peel receives funding from the Australian Research Council under her Australian Laureate Fellowship and Kathleen Fitzpatrick Award on ‘Transforming International Law for Corporate Climate Accountability’.

    – ref. Historic ruling finds climate change ‘imperils all forms of life’ and puts laggard nations on notice – https://theconversation.com/historic-ruling-finds-climate-change-imperils-all-forms-of-life-and-puts-laggard-nations-on-notice-261848

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: The Data Center Next Door: As Trump Eviscerates Guardrails, Senator Markey Hosts Roundtable Discussion on How AI Data Centers Can Harm Environment, Increase Costs to Households, and Threaten Public Health

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    View Storybook (PDF)

    Washington (July 23, 2025) – Senator Edward J. Markey (D-Mass.), a co-chair of the Environmental Justice Caucus and a member of the Environment and Public Works Committee and Health, Education, Labor, and Pensions Committee, today hosted a virtual roundtable discussion titled “The Data Center Next Door: Hidden Costs and Harms of Artificial Intelligence and Cryptomining.” Senator Markey was joined by Congressman Steve Cohen (TN-09), frontline advocates, and allies to discuss the effects of rapid data center development on climate and communities, including impacts on local air quality, water, grid reliability, health, and utility bills. Speakers highlighted how communities and allied organizations across the country are working to curb harms from data center build-out and how policymakers can more proactively address unsustainable data center development.

    Today, Senator Markey also released a new storybook highlighting the personal experiences of individuals living near data center infrastructure.

    “I have heard from people across the country whose stories make clear: unregulated, uncontrolled data center development is sucking our communities dry. Our environment doesn’t have to be a sacrificial lamb on the altar of innovation. We can have green growth—but not if we have Trump’s AI Inaction Plan as our Big Tech Bible. Lawmakers at all levels of government can and must ensure the Trump administration’s no-holds-barred approach to data center construction does not come at the cost of our health and welfare,” said Senator Markey. “We are not truly moving forward if we harm and leave people behind in the process. We owe it to our neighbors, near and far, to address these impacts at the federal level before we see a race to the bottom—one that could even disadvantage states and towns that try to do things right.”

    “The heart of my district is seeing the environmental impacts of Artificial Intelligence (AI) first-hand, with the world’s biggest supercomputer beginning operations last year. It requires one million gallons of water each day to cool its components and uses the same amount of energy as all 250,000 households in Memphis combined. The continued development of AI will have a drastic effect on energy and water costs and consumption, and our environment as a whole,” said Congressman Cohen.

    “Bitcoin mining is the most energy and water-intensive technology ever created. As long as the bitcoin mining algorithm is operating at scale, it is impossible to make the transition to a resilient, equitable, affordable, and renewable grid,” said Jackie Sawicky, member of the National Coalition Against Cryptomining (NCAC).

    “Families across America are struggling to afford their soaring electric bills as a result of energy-guzzling AI data centers. We cannot afford to let AI fuel a new fossil fuel boom that raises our bills and destroys our environment,” said Ben Inskeep, Program Director at Citizens Action Coalition of Indiana.

    “West Virginia has long borne the brunt of powering our country via the extraction of our natural resources. This legacy and continued pollution from fossil fuel industries worsened health disparities, increased our utility bills, and poisoned our air and water. The rapid growth of artificial intelligence development and the numerous proposals of fossil fuel powered data centers in our region simply carries on that toxic tradition of resource extraction, corporate exploitation, and harmful pollution for West Virginians,” said Morgan King, Climate and Energy Program Manager at West Virginia Citizen Action Group.

    “What’s happening in Virginia is unsustainable and the desire to go even faster is irresponsible. The impacts are too great and the risks are too high, we must slow down and put better guardrails in place,” said Julie Bolthouse, AICP, Director of Land Use at Piedmont Environmental Council.

    “Over the last year, xAI installed and operated dozens of unpermitted methane gas turbines at its Memphis data center, essentially building a power plant without any public oversight or input from nearby communities. These turbines pump out smog-forming pollution and harmful chemicals like formaldehyde and are located near predominantly Black communities that are already overburdened with a long history of environmental injustice. Families in South Memphis deserve transparency and clean air,” said Amanda Garcia, senior attorney in the Tennessee office of the Southern Environmental Law Center.

    MIL OSI USA News –

  • Over 3.42 pilgrims had ‘Darshan’ in 21 days, Amarnath Yatra to cross officially expected 3.5-lakh mark today

    Source: Government of India

    Source: Government of India (4)

    Since this year’s Amarnath Yatra started on July 3, more than 3.42 lakh yatris have had ‘darshan’ so far while a fresh batch of 3,500 pilgrims started their journey on Thursday from Jammu towards the two base camps, officials said.

    Officials said that more than 3.42 lakh yatris have performed the ongoing Amarnath Yatra during the last 21 days as the huge rush of pilgrims continues unabated.

    “The officially expected figure of 3.50 lakh yatris performing the Yatra this year is likely to be crossed on Thursday, while 17 days are still left for the conclusion of this year’s Yatra.”

    “The Yatra has been going on peacefully, smoothly and this has encouraged the devotees to come in record numbers. As more than 3.42 lakh have had darshan in the last 21 days, we had another batch of 3,500 yatris, who left the Bhagwati Nagar Yatri Niwas in Jammu for the Valley on Thursday.”

    “Of these, the first escorted convoy of 45 vehicles carrying 832 yatris left for the Baltal base camp at 3:25 a.m. while the second convoy of 95 vehicles carrying 2,668 yatris to the Pahalgam base camp left at 4:01 a.m.,” officials said.

    The Bhumi Pujan of ‘Chhari Mubarak’ (Lord Shiva’s Holy Mace) was performed at Pahalgam on July 10. The Chhari Mubarak was then taken back to its seat at the Dashnami Akhara building.

    It will start its final journey towards the cave shrine from Dashnami Akhara temple in Srinagar on August 4 and will reach the holy cave shrine on August 9, marking the official conclusion of the Yatra.

    Authorities have made extensive multi-tier security arrangements for this year’s Amarnath Yatra, as it takes place after the cowardly attack of April 22 in which Pakistan-backed terrorists killed 26 civilians after segregating them based on faith in the Baisaran meadow of Pahalgam.

    Additional 180 companies of Central Armed Police Forces have been brought in to augment the existing strength of the Army, BSF, CRPF, SSB and the local police.

    The Army has deployed more than 8,000 special commandos to secure the passage of the pilgrims this year.

    The Yatra started on July 3 and will end after 38 days on August 9, coinciding with Shravan Purnima and Raksha Bandhan.

    Yatris approach the holy cave shrine situated ,888 metres above sea level in the Kashmir Himalayas either from the traditional Pahalgam route or the shorter Baltal route.

    Those using the Pahalgam route pass through Chandanwari, Sheshnag and Panchtarni to reach the cave shrine, covering a distance of 46 km on foot.

    This trek takes a pilgrim four days to get to the cave shrine.

    Those using the shorter Baltal route have to trek 14 km to reach the cave shrine and return to the base camp the same day after having darshan.

    No helicopter services are available to yatris this year due to security reasons.

    The cave shrine houses an ice stalagmite structure that wanes and waxes with the phases of the moon.

    Devotees believe that the ice stalagmite structure symbolises the mythical powers of Lord Shiva.

    (IANS)

  • MIL-OSI Asia-Pac: Taisugar Gas Stations Mid-Year Giveaway (July 15 to August 5),Fuel Up and Strengthen Your Joints!

    Source: Republic of China Taiwan

    To thank customers for their longstanding and continued support, Taisugar Gas Stations are launching the “Fuel Up for Strength” mid-year appreciation campaign. From July 15 to August 5, customers who refuel 30 liters of gasoline or 50 liters of diesel (for both general customers and members) at any Taisugar Gas Station nationwide will receive one bottle of Taisugar Glucosamine Plus. The more you refuel, the more you receive-don’t miss the chance to give your car a full tank and give your body a boost!

    According to Taisugar, this year’s event combines fuel service with health promotion, not only as a token of appreciation for long-term customer loyalty but also to highlight the company’s commitment to driving safety and public well-being. For over 20 years, Taisugar Gas Stations have used premium CPC fuel, rigorously maintaining fuel quality through regular sediment removal, filter replacement, moisture and octane testing, and volume calibration to ensure clean and stable fuel for a smooth, safe journey.

    Beyond refueling services, Taisugar Gas Stations are closely connected with everyday life. In support of the net-zero emissions policy, Taisugar has actively expanded its electric vehicle infrastructure, including installing EV charging stations and 69 electric scooter battery swap stations, encouraging the public to embrace low-carbon transportation. Stations also offer a selection of Taisugar household products for added convenience and have upgraded to accept a range of mobile payment systems, including CPC Pay, LINE Pay, iPASS MONEY, JKO Pay, PX Pay Plus, and Taiwan Pay, to meet the diverse needs of modern consumers.

    This campaign’s featured gift, Taisugar Glucosamine Plus, is a health supplement developed by Taisugar’s Biotechnology Division. It contains chondroitin, collagen, and other essential nutrients, enhanced with a proprietary calcium delivery technology. Free of preservatives, artificial coloring, and Western pharmaceuticals, it offers a refreshing fruity taste and high bioavailability in liquid form, supporting joint flexibility and everyday mobility with zero burden on the body. With this special campaign, customers can fuel up their vehicles and energize their joints, making every trip safer and more powerful. Don’t miss out-visit your nearest Taisugar Gas Station and enjoy this limited-time mid-year bonus!

    TSC News Contact Person:
    Lin Hsin-Chih
    Petroleum Business Devision, TSC
    Contact Number: 886-6-632-8703 #802 / 886-939-919-530
    Email:a62462@taisugar.com.tw

    Tai Chih-Mou
    Petroleum Business Devision, TSC
    Contact Number: 886-6-632-8703 #101 / 886-988-721-867
    Email:a63425@taisugar.com.tw

    Petroleum Business Devision Customer Services Phone: 886-6-632-8703 #786 or 788

    MIL OSI Asia Pacific News –

  • MIL-OSI: Nokia Corporation Report for Q2 and Half Year 2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation

    Half year financial report
    24 July 2025 at 08:00 EEST

    Nokia Corporation Report for Q2 and Half Year 2025

    Solid performance offset by currency impact

    • Q2 comparable net sales declined 1% y-o-y on a constant currency and portfolio basis (2% reported) due to a 13% decline in Mobile Networks which had benefited from accelerated revenue recognition in the prior year. Network Infrastructure grew 8% while Cloud and Network Services grew 14%. Nokia Technologies grew 3%.
    • Comparable gross margin in Q2 was flat y-o-y at 44.7% (reported increased 10bps to 43.4%). Gross margins were broadly stable in Network Infrastructure and Mobile Networks and improved in Cloud and Network Services.
    • Q2 comparable operating margin decreased 290bps y-o-y to 6.6% (reported up 790bps to 1.8%), driven by a negative EUR 50 million venture fund impact which includes a EUR 60 million negative currency revaluation. Operating profit was also impacted by tariffs.
    • Q2 comparable diluted EPS for the period of EUR 0.04; reported diluted EPS for the period of EUR 0.02.
    • Q2 free cash flow of EUR 0.1 billion, net cash balance of EUR 2.9 billion.
    • As announced on 22 July 2025, full year 2025 comparable operating profit outlook revised to between EUR 1.6 and 2.1 billion (was between EUR 1.9 and 2.4 billion) with free cash flow conversion from comparable operating profit unchanged at between 50% and 80%.

    This is a summary of the Nokia Corporation Report for Q2 and Half Year 2025 published today. Nokia only publishes a summary of its financial reports in stock exchange releases. The summary focuses on Nokia Group’s financial information as well as on Nokia’s outlook. The detailed, segment-level discussion will be available in the complete financial report hosted at www.nokia.com/financials. Investors should not solely rely on summaries of Nokia’s financial reports and should also review the complete reports with tables.

    JUSTIN HOTARD, PRESIDENT AND CEO, ON Q2 2025 RESULTS

    In the following quote, net sales comments and growth rates are referring to comparable net sales and are on a constant currency and portfolio basis.

    During my first quarter as CEO, I’ve spent significant time engaging with our stakeholders. One message has stood out: Connectivity is becoming a critical differentiator in the AI supercycle, not only for communication service providers and hyperscalers, but also for new areas like defense and national security. With our portfolio in mobile and fiber access, data center, and transport networks, Nokia is uniquely positioned to be a leader in this market transition. Customer conversations have increased my optimism about our opportunity: There’s been a strong validation of what sets us apart – our technology, partnering culture, and the exceptional talent of our people.

    At the same time, our customers expect us to engage with them as one integrated company as they partner with us across our portfolio. Further it is clear we need to continue to evolve how we work so we move faster, improve productivity and focus on what brings value to our customers. As a result, we’re unifying our corporate functions to simplify how we work, build a more cohesive culture and begin to unlock operating leverage.

    We have a great opportunity to drive a unified vision for the future of networks, and I am looking forward to discussing our strategy and full value creation story at our Capital Markets Day in New York on November 19.

    Turning to our second quarter results, the significant currency fluctuations, particularly the weaker USD, had a meaningful impact on both our net sales and operating profit. On a constant currency and portfolio basis our overall net sales declined 1%, however excluding a settlement benefit in the prior year, sales would have grown 3%. Network Infrastructure grew 8% in Q2. Mobile Networks’ net sales declined 13%, primarily related to the aforementioned prior year settlement benefit and also due to project timing in India. Cloud and Network Services grew 14% with strong momentum in 5G Core. Nokia Technologies grew 3% and secured several new agreements in the quarter.

    Q2 comparable gross margin was stable year-on-year at 44.7%. Operating profit in the quarter was impacted by a non-cash negative impact to venture funds of EUR 50 million which included a EUR 60 million negative currency revaluation and the effect of tariffs we highlighted in Q1, contributing to our comparable operating margin declining 290 bps to 6.6%. Despite the cash impact of 2024 incentives during Q2, we had a strong cash performance and have generated free cash flow of over EUR 800 million in the first half.

    Q2 saw continued strong order momentum in Optical Networks with a book-to-bill well above 1, driven by new hyperscaler orders. We had several key wins in the quarter, including a deal with a large US communication service provider along with receiving our first award for 800G pluggables from a US hyperscaler. Across the group, Nokia generated 5% of sales in Q2 from hyperscalers. While we still have a lot of work ahead of us, I’m pleased with the progress we are making integrating Infinera, including executing on synergies. Additionally, the commercial momentum we are seeing reinforces the long-term value creation opportunity of the acquisition.

    Looking ahead we expect a stronger second half performance, particularly in Q4 consistent with normal seasonality. For the full year, the underlying business is trending largely as expected. We continue to expect strong growth in Network Infrastructure, growth in Cloud and Network Services and largely stable net sales in Mobile Networks on a constant currency and portfolio basis. In Nokia Technologies we expect approximately EUR 1.1 billion in operating profit.

    However, we are facing two headwinds to our full year operating profit outlook which are outside of our control, currency due to the weaker US Dollar, and tariffs. Currency has an approximately EUR 230 million negative impact relative to our expectations at the start of the year with EUR 90 million from non-cash venture fund currency revaluations. The current tariff levels are forecasted to impact operating profit by EUR 50 million to EUR 80 million inclusive of those in Q2. Considering these two headwinds, we decided it was prudent at this point to lower our comparable operating profit outlook to a range of EUR 1.6 billion to EUR 2.1 billion from the prior range of EUR 1.9 billion to EUR 2.4 billion.

    Justin Hotard
    President and CEO

    FINANCIAL RESULTS

    EUR million (except for EPS in EUR) Q2’25 Q2’24 YoY change Q1-Q2’25 Q1-Q2’24 YoY change
    Reported results            
    Net sales 4 546 4 466 2% 8 936 8 910 0%
    Gross margin % 43.4% 43.3% 10bps 42.5% 46.5% (400)bps
    Research and development expenses (1 161) (1 134) 2% (2 306) (2 259) 2%
    Selling, general and administrative expenses (744) (715) 4% (1 472) (1 408) 5%
    Operating profit 81 432 (81)% 32 836 (96)%
    Operating margin % 1.8% 9.7% (790)bps 0.4% 9.4% (900)bps
    Profit from continuing operations 83 370 (78)% 24 821 (97)%
    Profit/(loss) from discontinued operations 13 (512)   13 (525)  
    Profit/(loss) for the period 96 (142)   36 296 (88)%
    EPS for the period, diluted 0.02 (0.03)   0.01 0.05 (80)%
    Net cash and interest-bearing financial investments 2 879 5 475 (47)% 2 879 5 475 (47)%
    Comparable results            
    Net sales 4 551 4 466 2% 8 941 8 910 0%
    Constant currency and portfolio YoY change(1)             (1%)             (2%)
    Gross margin % 44.7% 44.7% 0bps 43.5% 47.6% (410)bps
    Research and development expenses (1 126) (1 064) 6% (2 241) (2 140) 5%
    Selling, general and administrative expenses (612) (610) 0% (1 199) (1 194) 0%
    Operating profit 301 423 (29)% 457 1 023 (55)%
    Operating margin % 6.6% 9.5% (290)bps 5.1% 11.5% (640)bps
    Profit for the period 236 328 (28)% 390 840 (54)%
    EPS for the period, diluted 0.04 0.06 (33)% 0.07 0.15 (53)%
    Business group results Network
    Infrastructure    		 Mobile
    Networks    		 Cloud and Network Services Nokia
    Technologies    		 Group Common and Other
    EUR million Q2’25 Q2’24 Q2’25 Q2’24 Q2’25 Q2’24 Q2’25 Q2’24 Q2’25 Q2’24
    Net sales 1 904 1 522 1 732 2 078 557 507 357 356 3 4
    YoY change 25%   (17)%   10%   0%   (25)%  
    Constant currency and portfolio YoY change(1) 8%   (13)%   14%   3%   (25)%  
    Gross margin % 38.2% 38.4% 41.1% 41.8% 42.7% 37.5% 100.0% 100.0%    
    Operating profit/(loss) 109 97 77 182 9 (35) 255 258 (150) (78)
    Operating margin % 5.7% 6.4% 4.4% 8.8% 1.6% (6.9)% 71.4% 72.5%    

    (1) This metric provides additional information on the growth of the business and adjusts for both currency impacts and portfolio changes. The full definition is provided in the Alternative performance measures section in Nokia Corporation Report for Q2 and Half Year 2025.

    SHAREHOLDER DISTRIBUTION

    Dividend

    Under the authorization by the Annual General Meeting held on 29 April 2025, the Board of Directors may resolve on the distribution of an aggregate maximum of EUR 0.14 per share to be paid in respect of financial year 2024. The authorization will be used to distribute dividend and/or assets from the reserve for invested unrestricted equity in four installments during the authorization period unless the Board decides otherwise for a justified reason.

    On 24 July 2025, the Board resolved to distribute a dividend of EUR 0.04 per share. The dividend record date is 29 July 2025 and the dividend will be paid on 7 August 2025. The actual dividend payment date outside Finland will be determined by the practices of the intermediary banks transferring the dividend payments.

    As previously announced, on 29 April 2025 the Board resolved to distribute a dividend of EUR 0.04 per share. The dividend record date was 5 May 2025 and the dividend was paid on 12 May 2025. Following these distributions, the Board’s remaining distribution authorization is a maximum of EUR 0.06 per share.

    OUTLOOK

      Full Year 2025
    Comparable operating profit(1,2) EUR 1.6 billion to EUR 2.1 billion (adjusted from EUR 1.9 billion to 2.4 billion)
    Free cash flow(1) 50% to 80% conversion from comparable operating profit

    1Please refer to Alternative performance measures section in Nokia Corporation Report for Q2 and Half Year 2025 for a full explanation of how these terms are defined.
    2Outlook is based on a EUR:USD rate of 1.17 for the remainder of the year.

    The outlook and all of the underlying outlook assumptions described below are forward-looking statements subject to a number of risks and uncertainties as described or referred to in the Risk Factors section later in this report.

    Along with Nokia’s official outlook targets provided above, Nokia provides the below additional assumptions that support the group level financial outlook.

      Full year 2025 Comment  
    Q3 Seasonality   Normal seasonality would imply flat net sales sequentially into Q3. The business expects somewhat more challenging product mix along with continued R&D investment. Comparable operating margin expected to be largely stable sequentially.  
    Group Common and Other operating expenses Approximately EUR 400 million    
    Comparable financial income and expenses Positive EUR 50 to 150 million    
    Comparable income tax rate ~25%    
    Cash outflows related to income taxes EUR 500 million    
    Capital expenditures EUR 650 million    
    Recurring gross cost savings EUR 400 million Related to ongoing cost savings program and not including Infinera-related synergies  
    Restructuring and associated charges related to cost savings programs EUR 250 million Related to ongoing cost savings program and not including Infinera-related synergies  
    Restructuring and associated cash outflows EUR 400 million Related to ongoing cost savings program and not including Infinera-related synergies  

    RISK FACTORS

    Nokia and its businesses are exposed to a number of risks and uncertainties which include but are not limited to: 

    • Competitive intensity, which is expected to continue at a high level as some competitors seek to take share;
    • Changes in customer network investments related to their ability to monetize the network;
    • Our ability to ensure competitiveness of our product roadmaps and costs through additional R&D investments;
    • Our ability to procure certain standard components and the costs thereof, such as semiconductors;
    • Disturbance in the global supply chain;
    • Impact of inflation, increased global macro-uncertainty, major currency fluctuations, changes in tariffs and higher interest rates;
    • Potential economic impact and disruption of global pandemics;
    • War or other geopolitical conflicts, disruptions and potential costs thereof;
    • Other macroeconomic, industry and competitive developments;
    • Timing and value of new, renewed and existing patent licensing agreements with licensees;
    • Results in brand and technology licensing; costs to protect and enforce our intellectual property rights; on-going litigation with respect to licensing and regulatory landscape for patent licensing;
    • The outcomes of on-going and potential disputes and litigation;
    • Our ability to execute, complete, successfully integrate and realize the expected benefits from transactions;
    • Timing of completions and acceptances of certain projects;
    • Our product and regional mix;
    • Uncertainty in forecasting income tax expenses and cash outflows, over the long-term, as they are also subject to possible changes due to business mix, the timing of patent licensing cash flow and changes in tax legislation, including potential tax reforms in various countries and OECD initiatives;
    • Our ability to utilize our Finnish deferred tax assets and their recognition on our balance sheet;
    • Our ability to meet our sustainability and other ESG targets, including our targets relating to greenhouse gas emissions;

    as well the risk factors specified under Forward-looking statements of this release, and our 2024 annual report on Form 20-F published on 13 March 2025 under Operating and financial review and prospects-Risk factors.

    FORWARD-LOOKING STATEMENTS

    Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia’s current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, tariffs, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, value creation, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to transactions, investments and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including “anticipate”, “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “could“, “see”, “plan”, “ensure” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties identified in the Risk Factors above.

    ANALYST WEBCAST

    • Nokia’s webcast will begin on 24 July 2025 at 11.30 a.m. Finnish time (EEST). The webcast will last approximately 60 minutes.
    • The webcast will be a presentation followed by a Q&A session. Presentation slides will be available for download at www.nokia.com/financials.
    • A link to the webcast will be available at www.nokia.com/financials.
    • Media representatives can listen in via the link, or alternatively call +1-412-317-5619.

    FINANCIAL CALENDAR

    • Nokia plans to publish its third quarter and January-September 2025 results on 23 October 2025.

    About Nokia

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

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

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

    Inquiries:

    Nokia
    Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia
    Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI: Bigbank’s Unaudited Financial Results for Q2 2025

    Source: GlobeNewswire (MIL-OSI)

    Bigbank’s total gross loan portfolio reached a record high of 2.44 billion euros by the end of the quarter, up 141 million euros (+6%) quarter on quarter and 537 million euros (+28%) year on year, driven by the strategic product lines of business loans and home loans. Growth in the consumer loan portfolio was more modest. During the quarter, the business loan portfolio increased by 54 million euros (+7%) to 862 million euros, the home loan portfolio by 53 million euros (+8%) to 717 million euros and the consumer loan portfolio by 19 million euros (+2%) to 860 million euros. For the first time in Bigbank’s history, business loans also became the largest credit product line in terms of portfolio size.

    On the deposit side, the savings deposit portfolio recorded strong growth in the second quarter, increasing by 154 million euros to 1.3 billion euros (+13%). However, the term deposit portfolio decreased by 59 million euros to 1.34 billion euros during the quarter. The stabilising interest rate environment has made the interest rates on more flexible savings deposits competitive with those on term deposits. Therefore, many depositors have opted for savings deposits when their term deposits have matured. At the end of the second quarter, the current accounts opened for retail customers in Estonia totalled 3.4 million euros. All current account holders earn interest at the rate of 2%, the best available on the market. The Group’s total deposit portfolio grew by 96 million euros (+4%) quarter on quarter and by 393 million euros (+17%) year on year, reaching 2.65 billion euros.

    Bigbank’s net profit for the first six months of 2025 was 18.7 million euros. Net profit for the same period in 2024 was 15.8 million euros. In the second quarter, Bigbank’s net profit amounted to 8.9 million euros, down 0.5 million euros from the second quarter of 2024 (-5%). In the second quarter, Bigbank’s profit before income tax amounted to 11.5 million euros, up 0,3 million euros from the second quarter of 2024 (+3%).

    Interest income grew quarter on quarter, because the growth in the loan portfolio had a stronger impact than the decrease in interest rates during the year. Interest income for the second quarter amounted to 45.2 million euros, an increase of 1.8 million euros (+4%) year on year. Due to the growth of the deposit portfolio and an increase in the volume of bonds issued, interest expense grew by 0.6 million euros (+3%) to 19.5 million euros. As a result, Bigbank’s net interest income grew by 1.2 million euros (+5%) year on year to 25.7 million euros.

    The quality of the loan portfolio continued to improve in the second quarter: the net allowance for expected credit losses and provisions totalled 1.4 million euros, down 4.4 million euros year on year. This positive trend is mostly attributable to an improvement in the quality of the consumer loan portfolio in all three Baltic countries. The credit quality of home loans remained very good, while that of the business loan portfolio was stable. The share of stage 3 (non-performing) loans decreased by 3.8 million euros in the second quarter, accounting for 4.7% of the total loan portfolio at the end of the quarter (-0.4 pp from the end of the first quarter). The relatively high share of stage 3 loans is mainly due to a small number of larger loans which are well secured and therefore do not increase expected credit loss expenses.

    Bigbank’s strong team, which is the driving force behind growing business volumes, continued to expand. At the end of the second quarter of 2025, Bigbank had 613 employees: 378 in Estonia, 102 in Lithuania, 91 in Latvia, 22 in Finland, 15 in Bulgaria and 5 in Sweden. Salary expenses for the second quarter totalled 8.2 million euros, up 1.8 million euros year on year (+28%).

    The second quarter saw significant progress in the development of everyday banking products. At the beginning of the quarter, Bigbank became a direct member of the SEPA Credit Transfer scheme. This enabled the Group to become fully independent of other financial intermediaries in the euro area. Bigbank has been a direct member of the SEPA Instant Credit Transfer scheme, enabling it to make instant payments independently, since 2024. Another significant milestone was reached at the end of June with the launch of the Bigbank mobile app. Initially made available to retail customers of the Estonian business unit, the modern and convenient app is expected to be launched in Lithuania and Latvia in the coming quarters.

    The value of the Group’s investment property portfolio was 72.3 million euros at the end of the second quarter. A significant change to the property portfolio was the decrease in the value of the agricultural land in Estonia, which fell by 1.7 million euros (around 5%) due to an overall decline in transaction prices in the market during the quarter.

    Two bond issues also took place in the second quarter. In May, Bigbank issued Additional Tier 1 (AT1) bonds totalling 2.44 million euros, thereby increasing its Additional Tier 1 capital by the same amount. In June, Bigbank carried out the first in a series of public unsecured subordinated bond offerings (T2) under a new programme. Due to strong investor interest, Bigbank increased the volume of the T2 bond offering from 3 million euros to 6 million euros, thereby raising its Tier 2 capital by the same amount.

    In the second quarter, Moody’s Ratings affirmed all of the ratings and assessments that it had assigned to Bigbank AS last year.

    • Long-term and short-term deposit ratings: Ba1/NP
    • Baseline Credit Assessment (BCA) and Adjusted BCA: ba2
    • Long-term and short-term Counterparty Risk Ratings: Baa2/P-2
    • Long-term and short-term Counterparty Risk Assessments: Baa2(cr)/P-2(cr)

    The outlook on the bank’s long-term deposit rating was revised from stable to negative.

    After the reporting date and before this report was authorised for issue, Bigbank received the decision of the Financial Supervision and Resolution Authority of 7 July 2025, which waived the previously applied minimum requirement for own funds and eligible liabilities. According to the requirement, the Group had to maintain a minimum ratio of own funds and eligible liabilities to total risk exposure amount (TREA) of 12.49%. Bigbank complied with this requirement throughout its effective term and would be able to continue to do so in the future. There is no new minimum ratio requirement set by Financial Supervision and Resolution Authority.

    Income statement, in thousands of euros Q2 2025 Q2 2024 6M 2025 6M 2024
    Net interest income 25,773 24,464 51,336 50,021
    Net fee and commission income 2,550 2,245 5,073 4,409
    Net income (loss) on financial assets 694 2,007 2,645 3,078
    Net other operating income -1,120 -977 -2,015 -1,826
    Total net operating income 27,897 27,739 57,039 55,682
    Salaries and associated charges -8,258 -6,351 -15,735 -12,763
    Administrative expenses -2,875 -2,285 -5,626 -5,954
    Depreciation, amortisation and impairment -2,176 -2,100 -4,313 -4,152
    Other gains (losses) -1,796 1,090 -1,782 -1,329
    Total expenses -15,105 -9,646 -27,456 -24,198
    Profit before loss allowances 12,792 18,093 29,583 31,484
    Net expected credit loss allowances -1,289 -6,811 -5,924 -12,531
    Profit before income tax 11,503 11,282 23,659 18,953
    Income tax expense -2,616 -1,857 -4,917 -3,132
    Profit for the period from continuing operations 8,887 9,425 18,742 15,821
    Profit from discontinued operations 0 8 0 29
    Profit for the period 8,887 9,433 18,742 15,850
    Statement of financial position, in thousands of euros 30 June 2025 31 March 2025 31 Dec 2024 30 June 2024
    Cash and cash equivalents 468,770 487,160 448,661 626,081
    Debt securities at FVOCI 42,508 49,431 22,334 9,907
    Loans to customers 2,438,608 2,297,987 2,196,482 1,902,001
    Other assets 109,143 109,603 110,939 89,255
    Total assets 3,059,029 2,944,181 2,778,416 2,627,244
    Customer deposits and loans received 2,656,328 2,560,513 2,401,689 2,264,137
    Subordinated notes 104,147 95,943 91,668 88,148
    Other liabilities 17,871 16,885 15,290 22,113
    Total liabilities 2,778,346 2,673,341 2,508,647 2,374,398
    Equity 280,683 270,840 269,769 252,846
    Total liabilities and equity 3,059,029 2,944,181 2,778,416 2,627,244

    Compared to the unaudited financial results published for Q2 2024, the net interest income and the net allowance for expected credit losses for the first six months of 2024 have been adjusted, both reduced by 1.3 million euros. The adjustment is related to an identified error, where interest income from impaired financial assets had been accrued on the gross exposure of the financial assets, rather than on net basis. This correction does not impact the net profit for the first six months of 2024.

    Commentary by Martin Länts, chairman of the management board of Bigbank AS:

    In the second quarter of 2025, Bigbank continued its strong growth across all core business areas, bringing the consolidated total assets above the 3-billion-euro mark for the first time. The growth of the loan portfolio lifted its volume beyond 2.4 billion euros, representing an increase of nearly one-third year on year. Strategic segments such as business loans and home loans continued to drive growth.

    Alongside loan portfolio growth, its quality also improved. The net allowance for expected credit losses and provisions decreased by more than fourfold compared to the same period last year, totalling 1.4 million euros in the second quarter. This positive change is mainly attributable to improvements in the credit quality of the Baltic consumer loan portfolios, which also supported growth in the bank’s net profit. Net profit for the first half of 2025 was 18.7 million euros, of which 8.9 million euros were earned in the second quarter.

    The deposit portfolio also continued to grow both year on year and quarter on quarter. The primary growth driver was the savings deposit segment, the volume of which has reached a similar level as term deposits, totalling nearly 1.3 billion euros at the end of the second quarter. People have become increasingly active in searching for interest-bearing options for their funds, finding an attractive opportunity in Bigbank’s savings deposit product, but increasingly also in our current accounts.

    As the first bank in Estonia, we offer all current account holders the opportunity to earn 2% interest on their account balances while maintaining daily access to their funds. Although our current accounts have only recently been launched in Estonia, we already see that more than 25% of our retail banking customers of the business unit have opened an account. We will continue expanding our daily banking functionalities, an important milestone of which was the launch of the Bigbank mobile app at the end of June. We also plan to roll out current account services to the Latvian and Lithuanian markets in the coming quarters.

    In May and June, we successfully completed two bond issues. Both transactions support the continued rapid growth of the bank, ensure compliance with regulatory capital requirements, and facilitate further expansion of our home loan and business loan portfolios.

    We thank all investors, partners, and customers of Bigbank for your trust, which enables us to grow our business volumes and create long-term value.

    Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 30 June 2025, the bank’s total assets amounted to 3.1 billion euros, with equity of 281 million euros. Operating in nine countries, the bank serves more than 174,000 active customers and employs over 600 people. The credit rating agency Moody’s has assigned Bigbank a long-term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2.

    Argo Kiltsmann
    Member of the Management Board
    Telephone: +372 5393 0833
    Email: argo.kiltsmann@bigbank.ee
    www.bigbank.ee

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    The MIL Network –

  • MIL-OSI: Dassault Systèmes: Q2 well aligned with objectives; Reaffirming 2025 growth outlook Advancing AI for software-defined industries

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    VELIZY-VILLACOUBLAY, France — July 24, 2025

    Dassault Systèmes: Q2 well aligned with objectives; Reaffirming 2025 growth outlook

    Advancing AI for software-defined industries

    Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today reports its IFRS unaudited estimated financial results for the second quarter 2025 and first half ended June 30, 2025. The Group’s Board of Directors approved these estimated results on July 23, 2025. This press release also includes financial information on a non-IFRS basis and reconciliations with IFRS figures in the Appendix.

    Summary Highlights1  

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all growth rates in constant currencies)

    • 2Q25: Total revenue of €1.52 billion, up 6%, well aligned with objectives;
    • 2Q25: Software revenue up 6%, driven by subscription revenue up 10%;
    • 2Q25: 3DEXPERIENCE software revenue up 20% with good dynamics across industries;
    • 2Q25: Operating margin of 29.3% and diluted EPS non-IFRS up 4% to €0.30;
    • For the first six months, recurring revenue up 7% driven by subscription growth of 13%;
    • FY25: Reaffirming non-IFRS full-year objectives with total revenue growth of 6% to 8% and diluted EPS growth of 7% to 10%.

    Dassault Systèmes’ Chief Executive Officer Commentary

    Pascal Daloz, Dassault Systèmes’ Chief Executive Officer, commented:

    “The first half of the year reaffirmed the strength of our core Manufacturing sector, with resilient performance in Transportation & Mobility and strong growth in High-Tech. Aerospace & Defense also had an excellent start, with notable engagement at the Paris Air Show, underscoring our leadership in these strategic areas. In Life Sciences, our PLM solutions are playing more and more a critical role in driving the evolution toward smarter manufacturing and agile supply chains.

    As we look to the future, Dassault Systèmes is uniquely positioned to help clients navigate the increasingly complex and dynamic global landscape. Our focus on high-growth segments, particularly Space, Defense, Energy, and AI-driven cloud infrastructure, places us at the core of sovereignty and security challenges.

    With the introduction of 3D UNIV+RSES, presented at our Capital Markets Day, we are entering new high-value territories such as regulatory and compliance management. AI will be a key enabler in these areas, and early customer feedback has been exceptionally promising. With AI for software-defined industries, we are confident that our continued innovation will unlock new levels of value for our clients, reinforcing our role as a trusted partner in their transformation journeys.”

    Dassault Systèmes’ Chief Financial Officer Commentary

    (revenue and diluted EPS (“EPS”) growth rates in constant currencies,
    data on a non-IFRS basis)

    Rouven Bergmann, Dassault Systèmes’ Chief Financial Officer, commented:

    “In Q2, both total and software revenues grew by 6%, in line with our objectives. Year-to-date, we’ve seen a 5% increase in growth, with subscription rising 13%. Our performance across the Manufacturing sector has been resilient, particularly driven by the continued strength of SIMULIA, ENOVIA, and CATIA.

    On the operational front, we remain committed to strategic investments aimed at capturing long-term value, while protecting EPS. The acquisition of Ascon is a key step in accelerating the shift to software-defined manufacturing.

    Looking ahead, we maintain our outlook for full-year revenue growth between 6-8%, with EPS growth expected to range from 7-10%. Additionally, we’ve updated our currency assumptions for the second half of the year.”

    Financial Summary

    In millions of Euros,
    except per share data and percentages    		   IFRS   IFRS
      Q2 2025 Q2 2024 Change Change in constant currencies   YTD 2025 YTD 2024 Change Change in constant currencies
    Total Revenue   1,521.6 1,495.8 2% 5%   3,094.6 2,995.4 3% 4%
    Software Revenue   1,372.7 1,346.5 2% 6%   2,805.4 2,699.4 4% 5%
    Operating Margin   15.9% 18.4% (2.6)pts     17.6% 20.0% (2.4)pts  
    Diluted EPS   0.17 0.21 (19)%     0.37 0.42 (14)%  
    In millions of Euros,
    except per share data and percentages    		   Non-IFRS   Non-IFRS
      Q2 2025 Q2 2024 Change Change in constant currencies   YTD 2025 YTD 2024 Change Change in constant currencies
    Total Revenue   1,523.2 1,495.8 2% 6%   3,096.2 2,995.4 3% 5%
    Software Revenue   1,374.2 1,346.5 2% 6%   2,807.0 2,699.4 4% 5%
    Operating Margin   29.3% 29.9% (0.7)pts     30.1% 30.5% (0.4)pts  
    Diluted EPS   0.30 0.30 (1)% 4%   0.61 0.60 2% 5%

    Second Quarter 2025 Versus 2024 Financial Comparisons

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all revenue growth rates in constant currencies)

    • Total Revenue: Total revenue in the second quarter grew 5% in IFRS and 6% in non-IFRS, to €1.52 billion, and software revenue increased by 6% to €1.37 billion. Subscription & support revenue rose 6%; recurring revenue represented 80% of software revenue. Licenses and other software revenue rose 5% to €276 million. Services revenue increased 3% to €149 million, during the quarter.
    • Software Revenue by Geography: The Americas revenue increased by 2% to represent 37% of software revenue, with High-Tech and Industrial Equipment performing well. Europe grew by 10% to 39% of software revenue, reflecting an acceleration led by France and Southern Europe. In Asia, revenue rose 6% with strong double-digit growth in China. Asia represented 24% of software revenue at the end of the second quarter.
    • Software Revenue by Product Line:
      • Industrial Innovation software revenue rose 9% to €745 million. SIMULIA, CATIA and ENOVIA were the best contributors to growth. Industrial Innovation software represented 54% of software revenue, during the period.
      • Life Sciences software revenue was flat at €268 million, to account for 20% of software revenue.
      • Mainstream Innovation software revenue increased by 3% to €360 million in IFRS, and was up 4% to €361 million in non-IFRS, represented 26% of software revenue. SOLIDWORKS had a strong subscription growth, advancing its business model shift.
    • Software Revenue by Industry: Industrial Equipment, High Tech, Transportation & Mobility and Aerospace & Defense were the best contributors to growth this quarter. In Life Sciences, Dassault Systèmes’ PLM solutions are playing more and more a critical role in driving the evolution toward smarter manufacturing and agile supply chains. In fact, outside of the MEDIDATA product line, Life Sciences revenue grew mid-teens.
    • Key Strategic Drivers: 3DEXPERIENCE software revenue increased 20% and represented 41% of 3DEXPERIENCE Eligible software revenue. Cloud software revenue grew 6% in non-IFRS, representing 25% of software revenue during the period. 3DEXPERIENCE Cloud software revenue increased 15% in constant currencies.
    • Operating Income and Margin: IFRS operating income decreased 12%, to €242 million, as reported. Non-IFRS operating income decreased 0.4% at €446 million, as reported. The IFRS operating margin stood at 15.9% compared to 18.4% in the second quarter of 2024, mainly reflecting the effect of the employee shareholding plan “TOGETHER 2025” offered during the quarter. The non-IFRS operating margin totaled 29.3%, versus 29.9% in the same period of last year, with a negative currency impact of 50 basis points.
    • Earnings per Share: IFRS diluted EPS was €0.17, decreasing 19% as reported. Non-IFRS diluted EPS grew to €0.30, down 1% as reported, up 4% in constant currencies.

    First Half 2025 Versus 2024 Financial Comparisons

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all revenue growth rates in constant currencies)

    • Total Revenue: Total revenue grew 4% to €3.09 billion in IFRS, and was up 5% to €3.10 billion in non-IFRS. Software revenue increased 5% to €2.81 billion. Subscription and support revenue rose 7% to €2.33 billion; recurring revenue represented 83% of total software revenue. Licenses and other software revenue decreased 2% to €474 million. Services revenue was down 2% to €289 million.
    • Software Revenue by Geography: The Americas, Europe and Asia all grew 5%, representing respectively 40%, 37% and 23% of software revenue.
    • Software Revenue by Product Line:
      • Industrial Innovation software revenue rose 8% to €1.54 billion and represented 55% of software revenue. CATIA, SIMULIA and ENOVIA were among the strongest contributors to growth.
      • Life Sciences software revenue was flat to €561 million, representing 20% of software revenue.
      • Mainstream Innovation software revenue increased by 3% to €707 million in IFRS and to €708 million in non-IFRS. Mainstream Innovation represented 25% of software revenue.
    • Software Revenue by Industry: Aerospace & Defense, High Tech, Industrial Equipment and Transport & Mobility were among the strongest contributors to growth. In Life Sciences, Dassault Systèmes’ PLM solutions are playing more and more a critical role in driving the evolution toward smarter manufacturing and agile supply chains. In fact, outside of the MEDIDATA product line, Life Sciences revenue grew mid-teens.
    • Key Strategic Drivers: 3DEXPERIENCE software revenue increased by 19%, representing 40% of 3DEXPERIENCE Eligible software revenue. Cloud software revenue grew 7% in non-IFRS, and represented 25% of software revenue. 3DEXPERIENCE Cloud software revenue increased 26% in constant currencies.
    • Operating Income and Margin: IFRS operating income was down 9%, to €546 million, as reported. Non-IFRS operating income increased 2% to €932 million, as reported. IFRS operating margin totaled 17.6% compared to 20% for the same period in 2024, mainly reflecting the combined effect of the employee shareholding plan “TOGETHER 2025” and higher share-based compensation related social charges, notably in France, where the rate rose from 20% to 30% in the first half of 2025. Non-IFRS operating margin stood at 30.1% in the first half of 2025, compared to 30.5% in the same period last year, impacted by negative currency effect of 30 basis points.
    • Earnings per Share: IFRS diluted EPS was €0.37, a decrease of 14% as reported. Non-IFRS diluted EPS grew by 2% to €0.61, as reported, or 5% in constant currencies.
    • Cash Flow from Operations (IFRS): Cash flow from operations totaled €1.15 billion for the first six months of 2025, compared to €1.13 billion last year. Cash flow from operations was principally used for the acquisition of ContentServ for €202 million, repurchase of Treasury Shares for €225 million and dividend payments for €343 million.
    • Balance Sheet (IFRS): Dassault Systèmes’ net financial position totaled €1.51 billion as of June 30, 2025, an increase of €0.05 billion, compared to €1.46 billion for the year ended December 31, 2024. Cash and cash equivalents totaled €4.08 billion in the first half.

    Financial Objectives for 2025

    Dassault Systèmes’ third quarter and 2025 financial objectives presented below are given on a non-IFRS basis and reflect the principal 2025 currency exchange rate assumptions for the US dollar and Japanese yen as well as the potential impact from additional non-Euro currencies:

               
          Q3 2025 FY 2025  
      Total Revenue (billion) €1.485 – €1.535 €6.410 – €6.510  
      Growth 1 – 5% 3 – 5%  
      Growth ex FX 5 – 8% 6 – 8%  
               
      Software revenue growth * 5 – 9% 6 – 8%  
        Of which licenses and other software revenue growth * 7 – 14% 4 – 7%  
        Of which recurring revenue growth * 5 – 8% 7 – 8%  
      Services revenue growth *

    1 – 5%

    		 1 – 3%  
               
      Operating Margin 29.7% – 29.9% 32.2% – 32.4%  
               
      EPS Diluted €0.29 – €0.30 €1.32 – €1.35  
      Growth 0 – 4% 3 – 6%  
      Growth ex FX 5 – 9% 7 – 10%  
               
      US dollar $1.17 per Euro $1.13 per Euro  
      Japanese yen (before hedging) JPY 170.0 per Euro JPY 166.1 per Euro  
      * Growth in Constant Currencies      

    These objectives are prepared and communicated only on a non-IFRS basis and are subject to the cautionary statement set forth below.

    The 2025 non-IFRS financial objectives set forth above do not take into account the following accounting elements below and are estimated based upon the 2025 principal currency exchange rates above: contract liabilities write-downs estimated at approximately €4 million; share-based compensation expenses, including related social charges, estimated at approximately €324 million (these estimates do not include any new stock option or share grants issued after June 30, 2025); amortization of acquired intangibles and of tangibles reevaluation, estimated at approximately €336 million, largely impacted by the acquisition of MEDIDATA; and lease incentives of acquired companies at approximately €1 million.

    The above objectives also do not include any impact from other operating income and expenses, net principally comprised of acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; from one-time items included in financial revenue; from one-time tax effects; and from the income tax effects of these non-IFRS adjustments. Finally, these estimates do not include any new acquisitions or restructuring completed after June 30, 2025.

    Corporate Announcements

    Today’s Webcast and Conference Call Information

    Today, Thursday, July 24, 2025, Dassault Systèmes will host in Paris a webcasted presentation at 9:00 AM London Time / 10:00 AM Paris time, and will then host a conference call at 8:30 AM New York time / 1:30 PM London time / 2:30 PM Paris time. The webcasted presentation and conference calls will be available online by accessing investor.3ds.com.

    Additional investor information is available at investor.3ds.com or by calling Dassault Systèmes’ Investor Relations at +33.1.61.62.69.24.

    Investor Relations Events

    • Third Quarter 2025 Earnings Release: October 23, 2025
    • Fourth Quarter 2025 Earnings Release: February 11, 2026
    • First Quarter 2026 Earnings Release: April 23, 2026
    • Second Quarter 2026 Earnings Release: July 23, 2026

    Forward-looking Information

    Statements herein that are not historical facts but express expectations or objectives for the future, including but not limited to statements regarding the Group’s non-IFRS financial performance objectives are forward-looking statements. Such forward-looking statements are based on Dassault Systèmes management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results or performances may differ materially from those in such statements due to a range of factors.

    The Group’s actual results or performance may be materially negatively affected by numerous risks and uncertainties, as described in the “Risk Factors” section 1.9 of the 2024 Universal Registration Document (‘Document d’enregistrement universel’) filed with the AMF (French Financial Markets Authority) on March 18, 2025, available on the Group’s website www.3ds.com.

    In particular, please refer to the risk factor “Uncertain Global Environment” in section 1.9.1.1 of the 2024 Universal Registration Document set out below for ease of reference:

    “In light of the uncertainties regarding economic, business, social, health and geopolitical conditions at the global level, Dassault Systèmes’ revenue, net earnings and cash flows may grow more slowly, whether on an annual or quarterly basis, mainly due to the following factors:

    • the deployment of Dassault Systèmes’ solutions may represent a large portion of a customer’s investments in software technology. Decisions to make such an investment are impacted by the economic environment in which the customers operate. Uncertain global geopolitical, economic and health conditions and the lack of visibility or the lack of financial resources may cause some customers, e.g. within the automotive, aerospace, energy or natural resources industries, to reduce, postpone or cancel their investments, or to reduce or not renew ongoing paid maintenance for their installed base, which impact larger customers’ revenue with their respective sub-contractors;
    • the political, economic and monetary situation in certain geographic regions where Dassault Systèmes operates could become more volatile and negatively affect Dassault Systèmes’ business, and in particular its revenue, for example, due to stricter export compliance rules or the introduction of new customs barriers or controls on the exchange of goods and services;
    • continued pressure or volatility on raw materials and energy prices could also slow down Dassault Systèmes’ diversification efforts in new industries;
    • uncertainties regarding the extent and duration of costs inflation could adversely affect the financial position of Dassault Systèmes; and
    • the sales cycle of the Dassault Systèmes’ products – already relatively long due to the strategic nature of such investments for customers – could further lengthen.

    The occurrence of crises – health and political crises in particular – could have consequences both for the health and safety of Dassault Systèmes’ employees and for the Company. It could also adversely impact the financial situation or financing and supply capabilities of Dassault Systèmes’ existing and potential customers, commercial and technology partners, some of whom may be forced to temporarily close sites or to cease operations. A deteriorating economic environment could generate increased price pressure and affect the collection of receivables, which would negatively affect Dassault Systèmes’ revenue, financial performance and market position.

    Dassault Systèmes makes every effort to take into consideration this uncertain outlook. Dassault Systèmes’ business results, however, may not develop as anticipated. Furthermore, due to factors affecting sales of Dassault Systèmes’ products and services, there may be a substantial time lag between an improvement in global economic and business conditions and an upswing in the Company’s business results.”

    In preparing such forward-looking statements, the Group has in particular assumed an average US dollar to euro exchange rate of US$1.17 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY170.0 to €1.00, before hedging for the third quarter 2025. The Group has assumed an average US dollar to euro exchange rate of US$1.13 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY166.1 to €1.00, before hedging for the full year 2025. However, currency values fluctuate, and the Group’s results may be significantly affected by changes in exchange rates.

    Non-IFRS Financial Information

    Readers are cautioned that the supplemental non-IFRS financial information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered in isolation from or as a substitute for IFRS measurements. The supplemental non-IFRS financial information should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with IFRS. Furthermore, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Specific limitations for individual non-IFRS measures are set forth in the Company’s 2024 Universal Registration Document filed with the AMF on March 18, 2025.

    In the tables accompanying this press release the Group sets forth its supplemental non-IFRS figures for revenue, operating income, operating margin, net income and diluted earnings per share, which exclude the effect of adjusting the carrying value of acquired companies’ deferred revenue, share-based compensation expense and related social charges, the amortization of acquired intangible assets and of tangibles reevaluation, certain other operating income and expense, net, including impairment of goodwill and acquired intangibles, the effect of adjusting lease incentives of acquired companies, certain one-time items included in financial revenue and other, net, and the income tax effect of the non-IFRS adjustments and certain one-time tax effects. The tables also set forth the most comparable IFRS financial measure and reconciliations of this information with non-IFRS information.

    FOR MORE INFORMATION

    Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com

    ABOUT DASSAULT SYSTÈMES

    Dassault Systèmes is a catalyst for human progress. Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens. With Dassault Systèmes’ 3DEXPERIENCE platform, 370 000 customers of all sizes, in all industries, can collaborate, imagine and create sustainable innovations that drive meaningful impact.
    For more information, visit www.3ds.com.

    Dassault Systèmes Investor Relations Team                FTI Consulting

    Beatrix Martinez: +33 1 61 62 40 73                        Arnaud de Cheffontaines: +33 1 47 03 69 48

                                                            Jamie Ricketts : +44 20 3727 1600

    investors@3ds.com

    Dassault Systèmes Press Contacts

    Corporate / France        Arnaud MALHERBE        arnaud.malherbe@3ds.com        +33 (0)1 61 62 87 73

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

    APPENDIX TABLE OF CONTENTS

    Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.    

    Glossary of Definitions

    Non-IFRS Financial Information

    Acquisitions and Foreign Exchange Impact

    Condensed consolidated statements of income

    Condensed consolidated balance sheet

    Condensed consolidated cash flow statement

    IFRS – non-IFRS reconciliation

    DASSAULT SYSTÈMES – Glossary of Definitions

    Information in Constant Currencies

    Dassault Systèmes has followed a long-standing policy of measuring its revenue performance and setting its revenue objectives exclusive of currency in order to measure in a transparent manner the underlying level of improvement in its total revenue and software revenue by activity, industry, geography and product lines. The Group believes it is helpful to evaluate its growth exclusive of currency impacts, particularly to help understand revenue trends in its business. Therefore, the Group provides percentage increases or decreases in its revenue and expenses (in both IFRS and non-IFRS) to eliminate the effect of changes in currency values, particularly the U.S. dollar and the Japanese yen, relative to the euro. When trend information is expressed “in constant currencies”, the results of the “prior” period have first been recalculated using the average exchange rates of the comparable period in the current year, and then compared with the results of the comparable period in the current year.

    While constant currency calculations are not considered to be an IFRS measure, the Group believes these measures are critical to understanding its global revenue results and to compare with many of its competitors who report their financial results in U.S. dollars. Therefore, Dassault Systèmes includes this calculation to compare IFRS and non-IFRS revenue figures for comparable periods. All information at constant currencies is expressed as a rounded percentage and therefore may not precisely reflect the absolute figures.

    Information on Growth excluding acquisitions (“organic growth”)

    In addition to financial indicators relating to the Group’s entire scope, Dassault Systèmes also provides growth information excluding acquisitions’ effects, and named organic growth. To do so, the Group’s data is restated to exclude acquisitions, from the date of the transaction, over a period of 12 months.

    Information on Industrial Sectors

    Dassault Systèmes provides broad end-to-end software solutions and services: its 3D UNIV+RSES (made of multiple virtual twin experiences) powered by the 3DEXPERIENCE platform combine modeling, simulation, data science, artificial intelligence and collaborative innovation to support companies in the three sectors it serves, namely Manufacturing Industries, Life Sciences & Healthcare, and Infrastructure & Cities.

    These three sectors comprise twelve industries:

    • Manufacturing Industries: Transportation & Mobility; Aerospace & Defense; Marine & Offshore; Industrial Equipment; High-Tech; Home & Lifestyle; Consumer Packaged Goods – Retail. In Manufacturing Industries, Dassault Systèmes helps customers virtualize their operations, improve data sharing and collaboration across their organization, reduce costs and time-to-market, and become more sustainable;
    • Life Sciences & Healthcare: Life Sciences & Healthcare. In this sector, the Group aims to address the entire cycle of the patient journey to lead the way toward precision medicine. To reach the broader healthcare ecosystem from research to commercial, the Group’s solutions connect all elements from molecule development to prevention to care, and combine new therapeutics, medical practices, and Medtech;
    • Infrastructure & Cities: Infrastructure, Energy & Materials; Architecture, Engineering & Construction; Business Services; Cities & Public Services. In Infrastructure & Cities, the Group supports the virtualization of the sector in making its industries more efficient and sustainable, and creating desirable living environments.

    Information on Product Lines

    The Group’s financial reporting on product lines includes the following information:

    • Industrial Innovation software revenue, which includes CATIA, ENOVIA, SIMULIA, DELMIA, GEOVIA, NETVIBES, and 3DEXCITE brands;
    • Life Sciences software revenue, which includes MEDIDATA and BIOVIA brands;
    • Mainstream Innovation software revenue, which includes its CENTRIC PLM and 3DVIA brands, as well as the SOLIDWORKS brand and its expanded offerings in design, simulation, PLM, and manufacturing.

    OUTSCALE has been a Dassault Systèmes brand since 2022, extending the portfolio of software applications. As the first sovereign and sustainable operator on the cloud, OUTSCALE enables governments and corporations from all sectors to achieve digital autonomy through a Cloud experience and with a world-class cyber governance.

    GEOs

    Eleven GEOs are responsible for driving the development of the Company’s business and implementing its customer‑centric engagement model. Teams leverage strong networks of local customers, users, partners, and influencers.

    These GEOs are structured into three groups:

    • the “Americas” group, made of two GEOs;
    • the “Europe” group, comprising Europe, Middle East and Africa (EMEA) and made of four GEOs;
    • the “Asia” group, comprising Asia and Oceania and made of five GEOs.

    3DEXPERIENCE Software Contribution

    To measure the relative share of 3DEXPERIENCE software in its revenues, Dassault Systèmes calculates the percentage contribution by comparing total 3DEXPERIENCE software revenue to software revenue for all product lines except SOLIDWORKS, MEDIDATA, CENTRIC PLM and other acquisitions (defined as “3DEXPERIENCE Eligible software revenue”).

    Cloud revenue

    Cloud revenue is generated from contracts that provide access to cloud-based solutions (SaaS), infrastructure as a service (IaaS), cloud solution development and cloud managed services. These offerings are delivered by Dassault Systèmes through its own cloud infrastructure or by third-party cloud providers. They are available through different deployment methods: Dedicated cloud, Sovereign cloud and International cloud. Cloud solutions are generally offered through subscription-based models or perpetual licenses with support and hosting services.

    DASSAULT SYSTÈMES

    NON-IFRS FINANCIAL INFORMATION

    (unaudited; in millions of Euros, except per share data, percentages, headcount and exchange rates)

    Non-IFRS key figures exclude the effects of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue), share-based compensation expense, including related social charges, amortization of acquired intangible assets and of tangible assets revaluation, lease incentives of acquired companies, other operating income and expense, net, including the acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets, certain one-time items included in financial loss, net, certain one-time tax effects and the income tax effects of these non-IFRS adjustments.

    Comparable IFRS financial information and a reconciliation of the IFRS and non-IFRS measures are set forth in the separate tables within this Attachment.

    In millions of Euros, except per share data, percentages, headcount and exchange rates Non-IFRS reported
    Three months ended Six months ended
    June 30,

    2025

    		 June 30,

    2024

    		 Change Change in constant currencies June 30,

    2025

    		 June 30,

    2024

    		 Change Change in constant currencies
    Total Revenue € 1,523.2 € 1,495.8 2% 6% € 3,096.2 € 2,995.4 3% 5%
                     
    Revenue breakdown by activity                
    Software revenue 1,374.2 1,346.5 2% 6% 2,807.0 2,699.4 4% 5%
    Of which licenses and other software revenue 275.6 271.8 1% 5% 473.7 490.3 (3)% (2)%
    Of which subscription and support revenue 1,098.6 1,074.8 2% 6% 2,333.2 2,209.1 6% 7%
    Services revenue 148.9 149.2 (0)% 3% 289.2 296.1 (2)% (2)%
                     
    Software revenue breakdown by product line                
    Industrial Innovation 744.6 701.9 6% 9% 1,537.7 1,433.2 7% 8%
    Life Sciences 268.3 281.7 (5)% 0% 560.9 566.4 (1)% 0%
    Mainstream Innovation 361.3 363.0 (0)% 4% 708.3 699.7 1% 3%
                     
    Software Revenue breakdown by geography                
    Americas 505.0 525.5 (4)% 2% 1,116.2 1,079.1 3% 5%
    Europe 534.8 491.9 9% 10% 1,048.0 995.1 5% 5%
    Asia 334.4 329.1 2% 6% 642.8 625.2 3% 5%
                     
    Operating income € 446.1 € 447.8 (0)%   € 932.2 € 914.3 2%  
    Operating margin 29.3% 29.9%     30.1% 30.5%    
                     
    Net income attributable to shareholders € 391.0 € 397.1 (2)%   € 811.2 € 794.3 2%  
    Diluted earnings per share € 0.30 € 0.30 (1)% 4% € 0.61 € 0.60 2% 5%
                     
    Closing headcount 26,253 25,811 2%   26,253 25,811 2%  
                     
    Average Rate USD per Euro 1.13 1.08 5%   1.09 1.08 1%  
    Average Rate JPY per Euro 163.81 167.77 (2)%   162.12 164.46 (1)%  

    DASSAULT SYSTÈMES

    ACQUISITIONS AND FOREIGN EXCHANGE IMPACT

    (unaudited; in millions of Euros)

    In millions of Euros Non-IFRS reported o/w growth at constant rate and scope o/w change of scope impact at current year rate o/w FX impact on previous year figures
    June 30,

    2025

    		 June 30,

    2024

    		 Change
    Revenue QTD 1,523.2 1,495.8 27.4 72.6 7.5 (52.7)
    Revenue YTD 3,096.2 2,995.4 100.7 125.9 7.7 (32.9)

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED STATEMENTS OF INCOME

    (unaudited; in millions of Euros, except per share data and percentages)

    In millions of Euros, except per share data and percentages IFRS reported
    Three months ended Six months ended
    June 30, June 30, June 30, June 30,
    2025 2024 2025 2024
    Licenses and other software revenue 275.6 271.8 473.7 490.3
    Subscription and Support revenue 1,097.1 1,074.8 2,331.7 2,209.1
    Software revenue 1,372.7 1,346.5 2,805.4 2,699.4
    Services revenue 148.9 149.2 289.2 296.1
    Total Revenue € 1,521.6 € 1,495.8 € 3,094.6 € 2,995.4
    Cost of software revenue (1) (120.1) (124.8) (249.3) (236.8)
    Cost of services revenue (144.6) (127.9) (275.7) (259.8)
    Research and development expenses (348.7) (326.1) (697.3) (637.5)
    Marketing and sales expenses (448.0) (423.8) (894.5) (844.1)
    General and administrative expenses (123.7) (111.6) (244.2) (216.7)
    Amortization of acquired intangible assets and of tangible assets revaluation (85.4) (92.3) (173.8) (185.6)
    Other operating income and expense, net (9.3) (13.2) (13.7) (15.0)
    Total Operating Expenses (1,279.9) (1,219.8) (2,548.4) (2,395.4)
    Operating Income € 241.7 € 276.0 € 546.1 € 600.0
    Financial income (loss), net 29.9 33.3 60.2 63.4
    Income before income taxes € 271.5 € 309.2 € 606.3 € 663.5
    Income tax expense (53.0) (47.7) (128.4) (116.0)
    Net Income € 218.6 € 261.5 € 477.9 € 547.5
    Non-controlling interest 4.9 1.2 6.1 1.0
    Net Income attributable to equity holders of the parent € 223.5 € 262.7 € 484.0 € 548.4
    Basic earnings per share 0.17 0.20 0.37 0.42
    Diluted earnings per share € 0.17 € 0.21 € 0.37 € 0.42
    Basic weighted average shares outstanding (in millions) 1,315.9 1,313.2 1,314.9 1,313.7
    Diluted weighted average shares outstanding (in millions) 1,324.4 1,326.2 1,325.7 1,328.7

            (1) Excluding amortization of acquired intangible assets and of tangible assets revaluation.

    IFRS reported

     

    		 Three months ended June 30, 2025 Six months ended June 30, 2025
    Change (2) Change in constant currencies Change (2) Change in constant currencies
    Total Revenue 2% 5% 3% 4%
    Revenue by activity        
    Software revenue 2% 6% 4% 5%
    Services revenue (0)% 3% (2)% (2)%
    Software Revenue by product line        
    Industrial Innovation 6% 9% 7% 8%
    Life Sciences (5)% 0% (1)% 0%
    Mainstream Innovation (1)% 3% 1% 3%
    Software Revenue by geography        
    Americas (4)% 2% 3% 5%
    Europe 8% 10% 5% 5%
    Asia 2% 6% 3% 5%

                    (2) Variation compared to the same period in the prior year.

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED BALANCE SHEET

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    June 30, December 31,
    2025 2024
    ASSETS    
    Cash and cash equivalents 4,083.7 3,952.6
    Trade accounts receivable, net 1,575.9 2,120.9
    Contract assets 40.1 30.1
    Other current assets 406.2 464.0
    Total current assets 6,105.9 6,567.6
    Property and equipment, net 903.5 945.8
    Goodwill and Intangible assets, net 7,030.3 7,687.1
    Other non-current assets 375.7 345.5
    Total non-current assets 8,309.4 8,978.3
    Total Assets € 14,415.3 € 15,545.9
    LIABILITIES    
    Trade accounts payable 183.2 259.9
    Contract liabilities 1,559.3 1,663.4
    Borrowings, current 534.0 450.8
    Other current liabilities 1,063.0 1,147.4
    Total current liabilities 3,339.5 3,521.5
    Borrowings, non-current 2,043.9 2,042.8
    Other non-current liabilities 836.0 900.9
    Total non-current liabilities 2,879.9 2,943.7
    Non-controlling interests 11.5 14.1
    Parent shareholders’ equity 8,184.3 9,066.6
    Total Liabilities € 14,415.3 € 15,545.9

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED CASH FLOW STATEMENT

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    Three months ended Six months ended
    June 30, June 30, Change June 30, June 30, Change
    2025 2024 2025 2024
    Net income attributable to equity holders of the parent 223.5 262.7 (39.3) 484.0 548.4 (64.4)
    Non-controlling interest (4.9) (1.2) (3.7) (6.1) (1.0) (5.1)
    Net income 218.6 261.5 (42.9) 477.9 547.5 (69.5)
    Depreciation of property and equipment 48.5 45.1 3.4 98.9 92.7 6.2
    Amortization of intangible assets 86.2 94.2 (8.0) 175.9 189.4 (13.5)
    Adjustments for other non-cash items 20.5 36.6 (16.1) 36.6 74.3 (37.7)
    Changes in working capital (39.4) 21.9 (61.3) 358.0 226.3 131.7
    Net Cash From Operating Activities € 334.3 € 459.3 € ( 124.9) € 1,147.3 € 1,130.2 € 17.2
                 
    Additions to property, equipment and intangibles assets (39.3) (50.6) 11.3 (95.3) (107.8) 12.5
    Payment for acquisition of businesses, net of cash acquired (9.2) (11.2) 2.0 (202.9) (15.7) (187.2)
    Other 3.2 0.8 2.3 (34.6) 23.1 (57.7)
    Net Cash Provided by (Used in) Investing Activities € (45.3) € (61.0) € 15.6 € (332.8) € (100.4) € (232.4)
                 
    Proceeds from exercise of stock options 7.4 13.9 (6.5) 29.6 35.2 (5.7)
    Cash dividends paid (342.6) (302.7) (39.9) (342.6) (302.7) (39.9)
    Repurchase and sale of treasury stock (144.7) (176.6) 31.8 (224.8) (307.7) 82.9
    Capital increase 111.3 – 111.3 111.3 – 111.3
    Acquisition of non-controlling interests 0.0 (0.0) 0.0 (0.2) (2.6) 2.5
    Proceeds from borrowings 121.3 – 121.3 81.0 – 81.0
    Repayment of borrowings – (0.1) 0.1 (18.5) (0.2) (18.4)
    Repayment of lease liabilities (22.7) (18.3) (4.4) (45.4) (42.3) (3.0)
    Net Cash Provided by (Used in) Financing Activities € (270.0) € (483.7) € 213.7 € (409.5) € (620.2) € 210.7
                 
    Effect of exchange rate changes on cash and cash equivalents (178.1) 21.0 (199.1) (273.9) 53.6 (327.5)
                 
    Increase (decrease) in cash and cash equivalents € (159.1) € (64.4) € (94.7) € 131.2 € 463.2 € (332.1)
                 
    Cash and cash equivalents at beginning of period € 4,242.9 € 4,095.9   € 3,952.6 € 3,568.3  
    Cash and cash equivalents at end of period € 4,083.7 € 4,031.5   € 4,083.7 € 4,031.5  

    DASSAULT SYSTÈMES
    SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
    IFRS – NON-IFRS RECONCILIATION
    (unaudited; in millions of Euros, except per share data and percentages)

    Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2024 filed with the AMF on March 18, 2025. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

    In millions of Euros, except per share data and percentages Three months ended June 30, Change
    2025 Adjustment(1) 2025 2024 Adjustment(1) 2024 IFRS Non-IFRS(2)
    IFRS Non-IFRS IFRS Non-IFRS
    Total Revenue € 1,521.6 € 1.6 € 1,523.2 € 1,495.8 – € 1,495.8 2% 2%
    Revenue breakdown by activity                
    Software revenue 1,372.7 1.6 1,374.2 1,346.5 – 1,346.5 2% 2%
    Licenses and other software revenue 275.6 – 275.6 271.8 – 271.8 1% 1%
    Subscription and Support revenue 1,097.1 1.6 1,098.6 1,074.8 – 1,074.8 2% 2%
    Recurring portion of Software revenue 80%   80% 80%   80%    
    Services revenue 148.9 – 148.9 149.2 – 149.2 (0)% (0)%
    Software Revenue breakdown by product line                
    Industrial Innovation 744.6 – 744.6 701.9 – 701.9 6% 6%
    Life Sciences 268.3 – 268.3 281.7 – 281.7 (5)% (5)%
    Mainstream Innovation 359.7 1.6 361.3 363.0 – 363.0 (1)% (0)%
    Software Revenue breakdown by geography                
    Americas 505.0 – 505.0 525.5 – 525.5 (4)% (4)%
    Europe 533.4 1.4 534.8 491.9 – 491.9 8% 9%
    Asia 334.3 0.1 334.4 329.1 – 329.1 2% 2%
    Total Operating Expenses € (1,279.9) € 202.9 € (1,077.1) € (1,219.8) € 171.9 € (1,047.9) 5% 3%
    Share-based compensation expense and related social charges (107.7) 107.7 – (65.8) 65.8 –    
    Amortization of acquired intangible assets and of tangible assets revaluation (85.4) 85.4 – (92.3) 92.3 –    
    Lease incentives of acquired companies (0.4) 0.4 – (0.5) 0.5 –    
    Other operating income and expense, net (9.3) 9.3 – (13.2) 13.2 –    
    Operating Income € 241.7 € 204.4 € 446.1 € 276.0 € 171.9 € 447.8 (12)% (0)%
    Operating Margin 15.9%   29.3% 18.4%   29.9%    
    Financial income (loss), net 29.9 0.6 30.4 33.3 0.5 33.8 (10)% (10)%
    Income tax expense (53.0) (32.8) (85.7) (47.7) (36.4) (84.1) 11% 2%
    Non-controlling interest 4.9 (4.7) 0.3 1.2 (1.6) (0.4) 300% (167)%
    Net Income attributable to shareholders € 223.5 € 167.6 € 391.0 € 262.7 € 134.4 € 397.1 (15)% (2)%
    Diluted Earnings Per Share (3) € 0.17 € 0.13 € 0.30 € 0.21 € 0.09 € 0.30 (19)% (1)%

    (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

    In millions of Euros, except percentages Three months ended June 30, Change
    2025

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2025

    Non-IFRS

    		 2024

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2024

    Non-IFRS

    		 IFRS Non-

    IFRS
    Cost of revenue (264.7) 13.9 0.1 (250.7) (252.8) 5.0 0.1 (247.6) 5% 1%
    Research and development expenses (348.7) 28.9 0.1 (319.7) (326.1) 20.4 0.2 (305.5) 7% 5%
    Marketing and sales expenses (448.0) 39.7 0.1 (408.2) (423.8) 23.2 0.1 (400.5) 6% 2%
    General and administrative expenses (123.7) 25.2 0.0 (98.5) (111.6) 17.2 0.0 (94.3) 11% 4%
    Total   € 107.7 € 0.4     € 65.8 € 0.5      

    (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
    (3) Based on a weighted average 1,324.4 million diluted shares for Q2 2025 and 1,326.2 million diluted shares for Q2 2024, and, for IFRS only, a diluted net income attributable to the sharehorlders of € 223.5 million for Q2 2025 (€ 276.7 million for Q2 2024). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.

    DASSAULT SYSTÈMES
    SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
    IFRS – NON-IFRS RECONCILIATION
    (unaudited; in millions of Euros, except per share data and percentages)

    Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2024 filed with the AMF on March 18, 2025. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

    In millions of Euros, except per share data and percentages Six months ended June 30, Change
    2025 Adjustment(1) 2025 2024 Adjustment(1) 2024 IFRS Non-IFRS(2)
    IFRS Non-IFRS IFRS Non-IFRS
    Total Revenue € 3,094.6 € 1.6 € 3,096.2 € 2,995.4 – € 2,995.4 3% 3%
    Revenue breakdown by activity                
    Software revenue 2,805.4 1.6 2,807.0 2,699.4 – 2,699.4 4% 4%
    Licenses and other software revenue 473.7 – 473.7 490.3 – 490.3 (3)% (3)%
    Subscription and Support revenue 2,331.7 1.6 2,333.2 2,209.1 – 2,209.1 6% 6%
    Recurring portion of Software revenue 83%   83% 82%   82%    
    Services revenue 289.2 – 289.2 296.1 – 296.1 (2)% (2)%
    Software Revenue breakdown by product line                
    Industrial Innovation 1,537.7 – 1,537.7 1,433.2 – 1,433.2 7% 7%
    Life Sciences 560.9 – 560.9 566.4 – 566.4 (1)% (1)%
    Mainstream Innovation 706.8 1.6 708.3 699.7 – 699.7 1% 1%
    Software Revenue breakdown by geography                
    Americas 1,116.1 0.1 1,116.2 1,079.1 – 1,079.1 3% 3%
    Europe 1,046.6 1.4 1,048.0 995.1 – 995.1 5% 5%
    Asia 642.7 0.1 642.8 625.2 – 625.2 3% 3%
    Total Operating Expenses € (2,548.4) € 384.4 € (2,164.0) € (2,395.4) € 314.3 € (2,081.1) 6% 4%
    Share-based compensation expense and related social charges (196.2) 196.2 – (112.6) 112.6 –    
    Amortization of acquired intangible assets and of tangible assets revaluation (173.8) 173.8 – (185.6) 185.6 –    
    Lease incentives of acquired companies (0.8) 0.8 – (1.2) 1.2 –    
    Other operating income and expense, net (13.7) 13.7 – (15.0) 15.0 –    
    Operating Income € 546.1 € 386.0 € 932.2 € 600.0 € 314.3 € 914.3 (9)% 2%
    Operating Margin 17.6%   30.1% 20.0%   30.5%    
    Financial income (loss), net 60.2 1.1 61.3 63.4 1.5 64.9 (5)% (6)%
    Income tax expense (128.4) (54.4) (182.8) (116.0) (68.0) (184.0) 11% (1)%
    Non-controlling interest 6.1 (5.6) 0.5 1.0 (1.9) (0.9) N/A (152)%
    Net Income attributable to shareholders € 484.0 € 327.2 € 811.2 € 548.4 € 245.9 € 794.3 (12)% 2%
    Diluted Earnings Per Share (3) € 0.37 € 0.25 € 0.61 € 0.42 € 0.17 € 0.60 (14)% 2%

    (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

    In millions of Euros, except percentages Six months ended June 30, Change
    2025

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2025

    Non-IFRS

    		 2024

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2024

    Non-IFRS

    		 IFRS Non-

    IFRS
    Cost of revenue (525.0) 18.8 0.2 (505.9) (496.5) 8.0 0.3 (488.2) 6% 4%
    Research and development expenses (697.3) 61.4 0.3 (635.7) (637.5) 38.3 0.6 (598.7) 9% 6%
    Marketing and sales expenses (894.5) 64.2 0.2 (830.1) (844.1) 36.8 0.2 (807.1) 6% 3%
    General and administrative expenses (244.2) 51.8 0.1 (192.3) (216.7) 29.5 0.1 (187.1) 13% 3%
    Total   € 196.2 € 0.8     € 112.6 € 1.2      

    (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
    (3) Based on a weighted average 1,325.7 million diluted shares for YTD 2025 and 1,328.7 million diluted shares for YTD 2024, and, for IFRS only, a diluted net income attributable to the sharehorlders of € 484.0 million for YTD 2025 (€ 562.3 million for YTD 2024). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.

    1 IFRS figures for 2Q25: Total revenue of €1.52 billion, up 5%, and subscription revenue up 9%; Operating margin of 15.9% and diluted EPS of €0.17; IFRS figures for YTD25: total revenue of €3.09 billion, subscription revenue up 12%; Operating margin of 17.6% and diluted EPS of €0.37.  

    Attachment

    The MIL Network –

  • MIL-OSI Russia: At least four killed in fire in Baghdad

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    BAGHDAD, July 24 (Xinhua) — A fire broke out in a residential building in eastern Baghdad on Wednesday, killing at least four people and seriously injuring two others, an Iraqi Interior Ministry source told Xinhua on condition of anonymity.

    According to him, the incident took place in the Al-Amin quarter. Due to the heat and severe overload, an electrical transformer caught fire, and the flames quickly spread to a nearby residential building.

    Civil defense personnel arrived at the scene to extinguish the fire, the source said.

    A few days ago, a major fire at a hypermarket in Kut, the capital of Wasit province in eastern Iraq, claimed the lives of at least 61 people.

    Fires have become more frequent in Iraq recently, with many parts of the country experiencing sweltering heat, reaching 50 degrees Celsius. –0–

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

    .

    MIL OSI Russia News –

  • MIL-OSI NGOs: Disease ripping through Gaza as Israel continues to deliberately block aid: Oxfam

    Source: Oxfam –

    Deadly diseases are now ripping through Gaza even as millions of dollars’ worth of humanitarian aid piles up in warehouses across the region, says Oxfam. 

    Water-borne diseases that are both preventable and readily treatable have increased by almost 150% inside Gaza over the past three months as Israel continues to deliberately block aid. 

    Available multi-agency health data shows that the numbers of Palestinians presenting to health facilities with acute watery diarrhea have increased by 150 per cent, bloody diarrhea by 302 per cent, and acute jaundice cases by 101 per cent. 

    Even these figures will be grossly under-reported because most of the two million people trapped by Israel’s continuing siege have little access to the few healthcare facilities that have managed to keep operating. 

    This surge of disease can quickly turn deadly especially as Palestinians living in Gaza have been deprived of enough food, water, shelter, and adequate healthcare for over 21 months.   Their community and family networks have been shattered, and people made more vulnerable by repeated forced mass displacements and continuing violence. 

    Israel has put Gaza under a near total blockade since March 2 of this year stopping all but a trickle of aid. There are no longer any humanitarian aid reserves held by international agencies inside of Gaza. 

    As a result, international humanitarian donors and agencies have been forced to accumulate more than 420,000 pallets of aid that now sit in limbo inside warehouses across the regions. This covers an area of around 75 hectares, or enough to cover 101 football fields. 

    “There is a grim and deliberate inevitability as to what Israel has created in Gaza. Each day that its siege continues and it denies aid, starvation becomes increasingly widespread and human deaths from entirely preventable diseases becomes an absolute certainty.” 

    Bushra Khalidi, Policy Lead

    Oxfam in the Occupied Palestinian Territory and Israel

    This aid includes shelters, food and supplements to combat malnutrition, and water equipment, sanitation items and medicines that would be vital to tackle diseases and   

    Oxfam alone has over 110,000 items of humanitarian aid in one warehouse including water bladders and tanks, hygiene, dignity and water testing kits, food parcels, soap, nappies, pipes and latrine slabs. 

    Oxfam is waiting for clearances and permissions to enter, however the Israeli authorities have recently denied water and sanitation items and food parcels. 

    Bushra Khalidi, Oxfam in the Occupied Palestinian Territory and Israel policy lead, said that time is running out to prevent an epidemic across Gaza and the mass death that would inevitably result. 

    “The conditions that Palestinians in Gaza are being forced to endure have created a petri dish for disease. These are diseases that thrive where people lack water – clean or otherwise – and are stuck in over-crowded unsanitary environments with almost no food,” Khalidi said.  

    “There is a grim and deliberate inevitability as to what Israel has created in Gaza. Each day that its siege continues and it denies aid, starvation becomes increasingly widespread and human deaths from entirely preventable diseases becomes an absolute certainty.” 

    “As Gaza bakes in the summer sun and the hottest month of the year looms, it is increasingly urgent that Israel’s siege must end. It is shameful Israel has been allowed to besiege Gaza and create this catastrophe. Nothing other than complete access to Gaza to deliver aid at scale can alleviate the conditions that people have been forced to live in.” 

    “Each day we wait for a ceasefire, more lives are lost through violence, hunger and disease. Palestinians in Gaza cannot wait a day longer for this hell to end. There must be a full and complete ceasefire, and all required aid must be able to enter via all crossings into Gaza so that Palestinians can finally begin to recover and rebuild.” 

    MIL OSI NGO –

  • MIL-OSI Submissions: Why Texas Hill Country, where a devastating flood killed more than 135 people, is one of the deadliest places in the US for flash flooding

    Source: The Conversation – USA (2) – By Hatim Sharif, Professor of Civil and Environmental Engineering, The University of Texas at San Antonio

    A Kerrville, Texas, resident watches the flooded Guadalupe River on July 4, 2025. Eric Vryn/Getty Images

    Texas Hill Country is known for its landscapes, where shallow rivers wind among hills and through rugged valleys. That geography also makes it one of the deadliest places in the U.S. for flash flooding.

    In the early hours of July 4, 2025, a flash flood swept through an area of Hill Country dotted with summer camps and small towns about 70 miles northwest of San Antonio. More than 135 people died in the flooding. The majority of them were in Kerr County, including more than two dozen girls and counselors at one summer camp, Camp Mystic. Dozens more people were still unaccounted for a week later.

    The flooding began with a heavy downpour, with more than 10 inches of rain in some areas, that sent water sheeting off the hillsides and into creeks. The creeks poured into the Guadalupe River.

    A river gauge at Hunt, Texas, near Camp Mystic, showed how quickly the river flooded: Around 3 a.m. on July 4, the Guadalupe River was rising about 1 foot every 5 minutes at the gauge, National Weather Service data shows. By 4:30 a.m., it had risen more than 20 feet. As the water moved downstream, it reached Kerrville, where the river rose even faster.

    Flood expert Hatim Sharif, a hydrologist and civil engineer at the University of Texas at San Antonio, explains what makes this part of the country, known as Flash Flood Alley, so dangerous.

    What makes Hill Country so prone to flooding?

    Texas as a whole leads the nation in flood deaths, and by a wide margin. A colleague and I analyzed data from 1959 to 2019 and found 1,069 people had died in flooding in Texas over those six decades. The next highest total was in Louisiana, with 693.

    Many of those flood deaths have been in Hill County. It’s part of an area known as Flash Flood Alley, a crescent of land that curves from near Dallas down to San Antonio and then westward.

    The hills are steep, and the water moves quickly when it floods. This is a semi-arid area with soils that don’t soak up much water, so the water sheets off quickly and the shallow creeks can rise fast.

    When those creeks converge on a river, they can create a surge of water that wipes out homes and washes away cars and, unfortunately, anyone in its path.

    Hill Country has seen some devastating flash floods. In 1987, heavy rain in western Kerr County quickly flooded the Guadalupe River, triggering a flash flood similar to the one in 2025. Ten teenagers being evacuated from a camp died in the rushing water.

    San Antonio, at the eastern edge of Hill Country, was hit with a flash flood on June 12, 2025, that killed 13 people whose cars were swept away by high water from a fast-flooding creek near an interstate ramp in the early morning.

    Why does the region get such strong downpours?

    One reason Hill Country gets powerful downpours is the Balcones Escarpment.

    The escarpment is a line of cliffs and steep hills created by a geologic fault. When warm air from the Gulf rushes up the escarpment, it condenses and can dump a lot of moisture. That water flows down the hills quickly, from many different directions, filling streams and rivers below.

    As temperature rise, the warmer atmosphere can hold more moisture, increasing the downpour and flood risk.

    A tour of the Guadalupe River and its flood risk.

    The same effect can contribute to flash flooding in San Antonio, where the large amount of paved land and lack of updated drainage to control runoff adds to the risk.

    What can be done to improve flash flood safety?

    First, it’s important for people to understand why flash flooding happens and just how fast the water can rise and flow. In many arid areas, dry or shallow creeks can quickly fill up with fast-moving water and become deadly. So people should be aware of the risks and pay attention to the weather.

    Improving flood forecasting, with more detailed models of the physics and water velocity at different locations, can also help.

    Probabilistic forecasting, for example, can provide a range of rainfall scenarios, enabling authorities to prepare for worst-case scenarios. A scientific framework linking rainfall forecasts to the local impacts, such as streamflow, flood depth and water velocity, could also help decision-makers implement timely evacuations or road closures.

    Education is particularly essential for drivers. One to two feet of moving water can wash away a car. People may think their trucks and SUVs can go through anything, but fast-moving water can flip a truck and carry it away.

    Officials can also do more to barricade roads when the flood risk is high to prevent people from driving into harm’s way. We found that 58% of the flood deaths in Texas over the past six decades involved vehicles. The storm on June 12 in San Antonio was an example. It was early morning, and drivers had poor visibility. The cars were hit by fast-rising floodwater from an adjacent creek.

    This article, originally published July 5, 2025, has been updated with the death toll rising.

    Hatim Sharif 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. Why Texas Hill Country, where a devastating flood killed more than 135 people, is one of the deadliest places in the US for flash flooding – https://theconversation.com/why-texas-hill-country-where-a-devastating-flood-killed-more-than-135-people-is-one-of-the-deadliest-places-in-the-us-for-flash-flooding-260555

    MIL OSI –

  • MIL-OSI USA: July 23rd, 2025 Heinrich Blasts Trump Administration for Raising Electricity Costs on American Families Amidst Growing Energy Demand

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich

    WASHINGTON — In his opening statement during a U.S. Senate Energy and Natural Resources Committee hearing on rising energy demand, U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Committee, raised the alarm on the energy affordability crisis facing working families and cited recent, irresponsible actions taken by the Trump Administration and Congressional Republicans that will raise energy costs on working families — including the passage of their Big, Bad Bill, their dismantling of our nation’s clean energy industry, and a recent directive from the Department of the Interior that will inevitably delay new generation additions to the grid and drive up costs further.

    VIDEO: Ranking Member Martin Heinrich (D-N.M.) blasts Trump Administration for raising electricity prices on working families during a hearing on the U.S. Senate Energy and Natural Resources Committee, July 23, 2025.

    “As Mr. Gramlich points out in his testimony, electricity bills are starting to become unaffordable for too many Americans,” said Heinrich. “And recent actions by President Trump and the Republican reconciliation bill will only make it worse.”

    “The reconciliation bill alone is estimated to increase annual energy costs more than $16 billion in 2030 and more than $33 billion by 2035,” continued Heinrich. “This is because, at a time when we need every electron we can get, the reconciliation bill is causing many clean energy projects to be canceled.”

    Heinrich additionally noted his concerns on how a new directive from the Department of the Interior that requires Secretary Doug Burgum to personally review and sign off on wind and solar projects on federal lands will risk delaying new generation additions to the grid, subsequently driving up families’ energy costs.

    A video of Heinrich’s opening remarks can be found here.

    A transcript of Heinrich’s remarks as delivered is below:

    Thank you, Chairman Lee. Welcome to our witnesses, Mr. Gramlich, Mr. Huntsman, and Mr. Tench.

    As we’ll discuss today, the scale and drivers of today’s rising electricity demand are relatively unprecedented.

    It’s not just that electricity demand is reaching record highs, it’s that we’re entering a new era of a sustained load growth.

    The structural forces underlying today’s load growth are converging: the growth of AI data centers; the electrification of vehicles, buildings, industry; as well as a resurgence in domestic manufacturing.

    And meeting this load growth will require structural changes to how we permit and build our energy infrastructure.

    In his testimony, Mr. Tench states that Vantage would prefer to “source power from the grid” but the “system is out of sync.”

    From interconnection timelines that are too long, transmission lines that take too long to build, and permitting that is too fragmented, the challenges that Mr. Tench articulates are the same ones that this Committee has been trying to address for some time.

    As Mr. Tench noted in his testimony, “No single business or technical workaround can substitute for a coordinated, modern, responsive grid.”

    Fortunately, we sit on the Committee that can help make that happen.

    The urgency isn’t just about maintaining our edge in AI innovation, it’s about affordability.

    As Mr. Gramlich points out in his testimony today, electricity bills are becoming unaffordable for too many Americans.

    And recent actions by President Trump and by the ‘Big, Bad Bill’ will make this worse.

    The reconciliation bill alone is estimated to increase annual energy costs more than $16 billion in 2030 and more than $33 billion by 2035.

    This is because, at a time when we need every single electron we can get, the reconciliation bill is causing many clean energy projects to be canceled.

    And the President’s tariffs are driving up equipment costs—raising the cost of all energy generation resources. All of them.

    This is leading directly to Americans spending more on their utility bills.

    And on top of this, an aging electrical grid is causing many energy projects to be stalled for years in interconnection queues.

    In June 2025, Grid Strategies released a study that found that investing in well-planned, high-capacity transmission could save U.S. households between $6.3 and $10.4 billion annually—and that’s even after accounting for the cost of actually building those transmission lines.

    The amount of energy currently in U.S. interconnection queues substantially exceeds the existing electricity demands—if only the grid could integrate it.

    According to the Energy Information Administration, in 2024, the U.S. installed nearly 49 gigawatts of new grid capacity, 95% of which was from renewable resources.

    This year, the EIA estimates that developers will build 63 GW of new capacity, including 32.5 GW of new utility-scale solar, 7.7 GW of wind power, 18.2 GW of energy storage, and just 4.4 GW of natural gas-fired generation.

    Clean energy is the most affordable and it’s the fastest type of energy generation to deploy—outpacing natural gas, which is facing years-long backlogs in turbine availability.

    If you order a gas, combine cycle natural gas turbine today, you’ll be lucky if it puts its first electron on the grid before 2032.

    Meanwhile, states like Texas and California are demonstrating that high levels of renewable energy do not compromise grid reliability—in fact, they improve it.

    After Texas added 9,600 MW of clean energy, including 5,400 MW of solar, 3,800 MW of energy storage, and 253 MW of wind, ERCOT CEO Pablo Vegas said that the risk of grid emergencies dropped to less than 1 percent, that’s down from 16 percent the previous year.

    NERC’s 2025 Summer Reliability Assessment confirmed this trend, showing that the risk of rolling blackouts in Texas fell from 15 percent to 3 percent as battery capacity came online.

    I’ll close by saying that I am deeply disturbed by the recent Department of Interior policy that requires Secretary Doug Burgum to personally review and sign off on wind and solar projects on federal lands.

    This nakedly political decision will risk delaying new generation additions to the grid when we need them the most.

    And consequently, will drive up costs.

    According to the Department of Energy, federal lands in the contiguous United States could support more than 7,700 GW of renewable energy capacity.

    And with that said, I look forward to discussing how we can meet the rise in electricity demand and lower energy costs for households by integrating the most affordable and rapidly deployable energy resources today, while also investing in long-term modernization.

    Thank you, Chairman.

    MIL OSI USA News –

  • MIL-OSI USA: Cassidy Secures $49 Million for Louisiana in FY 2026 Appropriations

    US Senate News:

    Source: United States Senator for Louisiana Bill Cassidy

    WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA) announced that he successfully secured $49,102,00.00 in Congressionally Directed Spending (CDS) in the first Fiscal Year (FY) 2026 Appropriations bills advanced by the U.S. Senate Appropriations Committee. These projects will support critical Louisiana priorities, from military construction and public safety to university research.
    “Whether it’s almost $1.4 million for Jefferson Parish to support criminal investigations, $500 thousand to the Northshore to address substance abuse and mental health issues, or multiple grants across the state to support first responders, this money works for the safety, security, and economic growth of Louisiana,” said Dr. Cassidy. Since taking office, Cassidy has emerged as one of the most effective U.S. Senators at directing federal dollars home to Louisiana, despite not serving on the Appropriations Committee. In FY2024, Roll Call reported that Cassidy was one of the top 20 senators in total funding secured for his state, and one of only five in that group who does not sit on the Appropriations Committee. That year, he secured a record $1.3 billion for Louisiana—the highest of any member of the state’s congressional delegation.
    See below for a list of the funding secured by Senator Cassidy.

    Funding Amount
    Recipient
    Project Description

    $30,000,000.00
    Fort Polk
    This funding will support construction of the Rotational Unit Billeting Area, Phase 1.

    $5,000,000.00
    University of Louisiana at Lafayette
    This funding will support purchase of equipment for the Silicon Bayou Semiconductor Technology Center.

    $4,000,000.00
    St. Bernard Parish
    This funding will support construction of a new fire station.

    $2,500,000.00
    Louisiana State University
    This funding will support LSU’s Electronic Microscopy Sight Initiative.

    $1,500,000.00
    City of Ruston Police Department
    This funding will support development of a Real Time Intelligence Crime Center.

    $1,395,000.00
    Jefferson Parish Coroner’s Office
    This funding will support purchase of advanced forensic equipment.

    $1,350,000.00
    University of New Orleans
    This funding will support instrumentation upgrades in computing and chemical sciences.

    $1,250,000.00
    East Baton Rouge DA’s Office
    This funding will support the Gun Intelligence Center Program.

    $794,000.00
    West Monroe Police Department
    This funding will support purchase of safety equipment for officers.

    $500,000.00
    22nd Judicial District Court
    This funding will support specialty courts for mental health and substance abuse treatment.

    $300,000.00
    Grant Parish Sheriff’s Office
    This funding will support upgrades to local law enforcement services.

    $263,000.00
    Town of Farmerville
    This funding will support renovations to the fire department.

    $250,000.00
    Tensas Parish Police Jury
    This funding will support security equipment upgrades.

    MIL OSI USA News –

  • MIL-OSI USA: Peters, Slotkin Respond to Federal Disaster Declaration Following Catastrophic Northern Michigan Ice Storm

    US Senate News:

    Source: United States Senator for Michigan Gary Peters
    WASHINGTON, DC – U.S. Senators Gary Peters (D-MI) and Elissa Slotkin (D-MI) responded to the approval of Michigan’s request for a major disaster declaration following the catastrophic ice storm that impacted communities throughout Northern Michigan and the Eastern Upper Peninsula in late March. In May, Peters and Slotkin sent a letter to President Trump urging his swift approval of this declaration to support areas affected by the storm. With this declaration, critical assistance through the Federal Emergency Management Agency’s (FEMA) Public Assistance Program will be available to communities in Alcona, Alpena, Antrim, Charlevoix, Cheboygan, Crawford, Emmet, Montmorency, Oscoda, Otsego, Presque Isle, Kalkaska and Mackinac Counties, as well as the Little Traverse Bay Band of Odawa Indians.
    “I’m pleased that funding is coming to Northern Michigan to bolster the ongoing recovery efforts following the ice storm this March,” said Senator Peters. “The State of Michigan and local emergency managers continue to work hard because this job is not finished, and I’ll keep fighting to help our communities get the resources they need to bounce back stronger.”
    “This is welcome news and a big step for the many Michiganders who are still recovering from the once-in-a-generation ice storm in Northern Michigan and the UP in March,” said Senator Slotkin. “There is still more work ahead, but my office is here to help Michiganders navigate the federal disaster process to rebuild and recover.”
    The National Weather Service has ranked this as one of the most significant ice storms ever recorded in Northern Michigan. State and federal officials estimate the storms caused more than $137 million in immediate response costs, and inflicted severe damage to homes, businesses, and critical infrastructure, including leaving residents without power for weeks. The long-term impacts to local government, industries, and residents remain to be seen.
    FEMA’s Public Assistance Program provides assistance to eligible applicants, including local governments, to respond and recover from major disasters. In Michigan, the authorized funding can be used for debris removal and emergency protective measures such as eligible overtime work and permanent restoration of infrastructure. For additional information regarding the federal assistance, please contact the MSP Emergency Management and Homeland Security Division at 517-243-0149.
    Peters and Slotkin have fought to aid Northern Michigan’s impacted communities from the start. In the days following this devastating storm, the lawmakers wrote to Governor Whitmer expressing their willingness to support any federal support needed as part of the State of Michigan’s response. In June, Peters and Slotkin called on the Small Business Administration to approve the State of Michigan’s Rapid Administrative Disaster Declaration request for eligible counties, which was later approved by SBA Administrator Loeffler.

    MIL OSI USA News –

  • MIL-Evening Report: Bali is built on informal and ‘illegal’ settlements. Bulldozing Bingin Beach misses the real threat of overdevelopment

    Source: The Conversation (Au and NZ) – By Kim Dovey, Professor of Architecture and Urban Design, The University of Melbourne

    Balinese officials have begun the demolition of more than 40 businesses at Bingin Beach, a popular tourist spot in the Uluwatu region.

    In June, the Balinese House of Representatives determined the settlement is on public land, and is therefore illegal and needs to be demolished. But I’d argue it doesn’t.

    The ‘illegal’ settlement

    The Bingin Beach coastal settlement began development in the 1970s as an informal surfer hub at the base of a steep escarpment. The beach is a few hundred metres long and largely disappears at high tide.

    Originally lined with a string of makeshift warungs (small food stores) and cheap accommodations, the settlement has grown incrementally over the decades, up and along the escarpment, with an intensive mix of surf shops, restaurants and small hotels.

    The steepness of the slope precludes vehicle access. The only public access is via two somewhat narrow pedestrian stairways.

    While it initially served the surfer community, the settlement now caters to a broader tourist market, with some rooms going for upwards of US$150 per night.

    But after more than 50 years of incremental development, the House of Representatives has declared the settlement was illegally constructed on state land, and has ordered the demolition of 45 buildings – effectively the entire settlement.

    While most of the buildings seem highly durable, the demolition order is based on illegality, and not durability. A spokesperson for the traders argues most of the businesses are locally owned, and livelihoods are at stake.

    The ‘legal’ settlement

    The former farmland at the top of the escarpment is also covered with tourist developments that mostly emerged since 2010, and now extend up to a kilometre inland. This is a much more familiar landscape for Bali: a mix of walled hotel compounds and private villas, with manicured gardens and swimming pools.

    However, one could scarcely call this larger settlement “planned”. Shops and restaurants emerge wherever they can find a market along the narrow roads. There are no sidewalks and pedestrians are constantly engaged in an anxious game of negotiated passing.

    The infrastructure of roads and lanes has also been designed incrementally, across the former farm fields, as the settlement developed. The resulting street network is convoluted and largely unwalkable. The most common street sign is “no beach access this way”.

    What is informality?

    I’m an academic, architect and urban planner who studies informal settlements and informal urbanism more generally. In this context “informal” can mean illegal, makeshift and unplanned, but it can also mean incremental, adaptive and inventive.

    Informal settlement is the means by which a large proportion of Indonesians produce affordable housing. It is also the most traditional form of indigenous housing globally.

    After many decades of governments trying to demolish such settlements, the overwhelming consensus across the United Nations Human Settlements Programme is that wholesale demolition is rarely an answer. On-site formalisation and upgrading is the more sustainable pathway.

    When engaging with informal settlements, we need to preserve the infrastructures that work and only demolish where necessary. The Bingin Beach escarpment settlement has proven sustainable and has become an integral part of the local heritage.

    Its demolition will destroy livelihoods and displace the surfing market, while feathering other nests.

    So why is it being demolished? Perhaps to clear the ground for the next round of up-market resorts – what urban studies research calls “accumulation by disposession”. Bingin is widely seen as a major real estate hotspot for investment.

    What is overdevelopment?

    One of the key dangers of informal settlement is “overdevelopment”. Without
    formal planning codes, density can escalate to destroy the very attraction that produced the settlement.

    Most buildings along the Bingin Beach escarpment are two to four storeys, and step back with the slope of the escarpment. The exception is the 2019 addition of the Morabito Art Cliff hotel that rises more than six storeys, obscuring the natural landscape, blocking views, and setting a precedent for more of the same.

    If everyone in the area built like this, the Bingin settlement would be replaced with a cliff of buildings. To demolish this one building would set a useful precedent of containing the settlement to a sustainable scale.

    The Impossibles dream

    A few hundred metres south-west of Bingin Beach, a different story unfolds near the beach known as Impossibles. Here, a precarious limestone cliff largely precludes access to the beach, and the clifftop has long been lined with low-rise tourist compounds.

    An aeriel view of the Uluwatu coast shows Bingin Beach and the Impossibles.
    Map data: Google, 2025 Maxar Technologies

    This earlier layer of development is now being demolished and replaced with larger, denser resorts as part of the Amali project which claims a “rare cliff-front location”. The location is “rare” because about half of the 50-metre-high cliff has been excavated to construct villa units quite literally in the cliff.

    This excavation was well underway when, in May 2024, it caused much of the remaining natural cliff face to collapse onto the beach and into the ocean. It remains unclear whether the excavation was formally approved. Either way, it prompts the question: what if everyone did that?

    The Bingin escarpment and the Impossibles cliff face represent very different kinds of development. One is incremental, irregular and geared to its social and environmental context, while the other is large-grain and environmentally destructive. It makes no sense to demolish the former in order to make way for the latter.

    It is imperative to not only save the Bingin Beach settlement, which is part of Bali’s surfing heritage, but also to awaken from the impossible dream of building more and more villas on this fragile and limited coastland.

    Kim Dovey 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. Bali is built on informal and ‘illegal’ settlements. Bulldozing Bingin Beach misses the real threat of overdevelopment – https://theconversation.com/bali-is-built-on-informal-and-illegal-settlements-bulldozing-bingin-beach-misses-the-real-threat-of-overdevelopment-261755

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Submissions: Bali is built on informal and ‘illegal’ settlements. Bulldozing Bingin Beach misses the real threat of overdevelopment

    Source: The Conversation – Global Perspectives – By Kim Dovey, Professor of Architecture and Urban Design, The University of Melbourne

    Balinese officials have begun the demolition of more than 40 businesses at Bingin Beach, a popular tourist spot in the Uluwatu region.

    In June, the Balinese House of Representatives determined the settlement is on public land, and is therefore illegal and needs to be demolished. But I’d argue it doesn’t.

    The ‘illegal’ settlement

    The Bingin Beach coastal settlement began development in the 1970s as an informal surfer hub at the base of a steep escarpment. The beach is a few hundred metres long and largely disappears at high tide.

    Originally lined with a string of makeshift warungs (small food stores) and cheap accommodations, the settlement has grown incrementally over the decades, up and along the escarpment, with an intensive mix of surf shops, restaurants and small hotels.

    The steepness of the slope precludes vehicle access. The only public access is via two somewhat narrow pedestrian stairways.

    While it initially served the surfer community, the settlement now caters to a broader tourist market, with some rooms going for upwards of US$150 per night.

    But after more than 50 years of incremental development, the House of Representatives has declared the settlement was illegally constructed on state land, and has ordered the demolition of 45 buildings – effectively the entire settlement.

    While most of the buildings seem highly durable, the demolition order is based on illegality, and not durability. A spokesperson for the traders argues most of the businesses are locally owned, and livelihoods are at stake.

    The ‘legal’ settlement

    The former farmland at the top of the escarpment is also covered with tourist developments that mostly emerged since 2010, and now extend up to a kilometre inland. This is a much more familiar landscape for Bali: a mix of walled hotel compounds and private villas, with manicured gardens and swimming pools.

    However, one could scarcely call this larger settlement “planned”. Shops and restaurants emerge wherever they can find a market along the narrow roads. There are no sidewalks and pedestrians are constantly engaged in an anxious game of negotiated passing.

    The infrastructure of roads and lanes has also been designed incrementally, across the former farm fields, as the settlement developed. The resulting street network is convoluted and largely unwalkable. The most common street sign is “no beach access this way”.

    What is informality?

    I’m an academic, architect and urban planner who studies informal settlements and informal urbanism more generally. In this context “informal” can mean illegal, makeshift and unplanned, but it can also mean incremental, adaptive and inventive.

    Informal settlement is the means by which a large proportion of Indonesians produce affordable housing. It is also the most traditional form of indigenous housing globally.

    After many decades of governments trying to demolish such settlements, the overwhelming consensus across the United Nations Human Settlements Programme is that wholesale demolition is rarely an answer. On-site formalisation and upgrading is the more sustainable pathway.

    When engaging with informal settlements, we need to preserve the infrastructures that work and only demolish where necessary. The Bingin Beach escarpment settlement has proven sustainable and has become an integral part of the local heritage.

    Its demolition will destroy livelihoods and displace the surfing market, while feathering other nests.

    So why is it being demolished? Perhaps to clear the ground for the next round of up-market resorts – what urban studies research calls “accumulation by disposession”. Bingin is widely seen as a major real estate hotspot for investment.

    What is overdevelopment?

    One of the key dangers of informal settlement is “overdevelopment”. Without
    formal planning codes, density can escalate to destroy the very attraction that produced the settlement.

    Most buildings along the Bingin Beach escarpment are two to four storeys, and step back with the slope of the escarpment. The exception is the 2019 addition of the Morabito Art Cliff hotel that rises more than six storeys, obscuring the natural landscape, blocking views, and setting a precedent for more of the same.

    If everyone in the area built like this, the Bingin settlement would be replaced with a cliff of buildings. To demolish this one building would set a useful precedent of containing the settlement to a sustainable scale.

    The Impossibles dream

    A few hundred metres south-west of Bingin Beach, a different story unfolds near the beach known as Impossibles. Here, a precarious limestone cliff largely precludes access to the beach, and the clifftop has long been lined with low-rise tourist compounds.

    An aeriel view of the Uluwatu coast shows Bingin Beach and the Impossibles.
    Map data: Google, 2025 Maxar Technologies

    This earlier layer of development is now being demolished and replaced with larger, denser resorts as part of the Amali project which claims a “rare cliff-front location”. The location is “rare” because about half of the 50-metre-high cliff has been excavated to construct villa units quite literally in the cliff.

    This excavation was well underway when, in May 2024, it caused much of the remaining natural cliff face to collapse onto the beach and into the ocean. It remains unclear whether the excavation was formally approved. Either way, it prompts the question: what if everyone did that?

    The Bingin escarpment and the Impossibles cliff face represent very different kinds of development. One is incremental, irregular and geared to its social and environmental context, while the other is large-grain and environmentally destructive. It makes no sense to demolish the former in order to make way for the latter.

    It is imperative to not only save the Bingin Beach settlement, which is part of Bali’s surfing heritage, but also to awaken from the impossible dream of building more and more villas on this fragile and limited coastland.

    Kim Dovey 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. Bali is built on informal and ‘illegal’ settlements. Bulldozing Bingin Beach misses the real threat of overdevelopment – https://theconversation.com/bali-is-built-on-informal-and-illegal-settlements-bulldozing-bingin-beach-misses-the-real-threat-of-overdevelopment-261755

    MIL OSI –

  • MIL-OSI Australia: The RBA’s Dual Mandate – Inflation and Employment

    Source: Airservices Australia

    I’d like to begin by acknowledging the Traditional Custodians of the land on which we meet and pay my respects to Elders past and present.

    It’s an honour to join you today at the Anika Foundation fundraising lunch. The Foundation supports vital work on youth mental health research, awareness and education, in which I have a strong personal interest.

    I’m proud to uphold the tradition of the Reserve Bank Governor speaking at this event to support an organisation that is making a real difference.

    My remarks today centre on the dual objectives of monetary policy: ‘price stability’, which means maintaining low and stable inflation; and full employment, which I will talk about in more detail later.

    I’ll explore how these aims have shaped the Monetary Policy Board’s strategy in recent years. As part of that, I will reflect on the relationship between the labour market and inflation over that time, and how conditions in the labour market have evolved to the present day.

    Now is a good time to revisit these subjects, following the agreement two weeks ago of an updated Statement on the Conduct of Monetary Policy, which sets out the common understanding of Government and the Board on key elements of the monetary policy framework.

    But before I turn to that, I’ll start with an update on recent monetary policy settings.

    Recent monetary policy settings

    If you cast your mind back to 2022, you will recall that inflation was higher than it had been in decades, peaking at 7.8 per cent at the end of that year. It was this rise in inflation that required a tightening in monetary policy over 2022 and 2023, with the cash rate increasing from almost zero to 4.35 per cent over that period.

    Over the past couple of years, we have made meaningful progress in bringing inflation down. Higher interest rates have been working to bring aggregate demand and supply closer towards balance. We expect headline inflation in the June quarter to be in the lower half of our 2–3 per cent target range – although that partly reflects the ongoing effect of temporary cost-of-living relief. As that effect unwinds, we expect headline inflation to pick up to around the top of the band at the end of this year and into the first part of 2026.

    To help look through temporary factors like this, we also pay close attention to trimmed mean inflation (published quarterly), which provides a good guide to underlying inflation trends. This measure has also been easing, but it’s still a bit higher than headline inflation. At 2.9 per cent in the March quarter, year-ended trimmed mean inflation was under 3 per cent for the first time since 2021.

    We expect trimmed mean inflation to fall a little further in the June quarter in year-ended terms. However, the monthly CPI Indicator data, which are volatile, suggest that the fall may not be quite as much as we forecast back in May. We still think it will show inflation declining slowly towards 2½ per cent, but we are looking for data to support this expectation.

    Encouragingly, as inflation has slowed, the labour market has eased only gradually and the unemployment rate is relatively low. I’ll have more to say on developments in the labour market later.

    Since February, we have reduced the cash rate by 50 basis points. The Board continues to judge that a measured and gradual approach to monetary policy easing is appropriate. Global economic and policy developments have so far been largely in line with our baseline May forecasts, and the likelihood of a severe downside ‘trade war’ appears to have diminished. But there is still uncertainty and unpredictability in the global economy. The Board’s view is that monetary policy is well placed to respond decisively to adverse international developments if needed.

    Our longstanding strategy has been to bring inflation back to target while preserving as many of the gains in the labour market as possible. This approach meant that interest rates in Australia did not rise as high as they did in some other economies, and so we may not need to lower them as much on the way down.

    We also know that Australians continue to feel cost-of-living pressures, with the average level of prices now notably higher than it was just a few years ago. That is why we want to make sure that inflation remains low and stable from here on in. Low and stable inflation is good for households, good for jobs, good for communities and good for the economy.

    Our goals of price stability and full employment generally reinforce each other

    Stepping back from current policy settings and the inflationary episode of recent years, I now want to reflect on the framework that guides the Board’s decisions more generally.

    The RBA’s monetary policy objectives are set out in legislation. Our overarching goal is to promote the economic prosperity and welfare of the Australian people, both now and into the future. For the Board, this means setting monetary policy in a way that best achieves both price stability and full employment.

    These goals are often referred to as our ‘dual mandate’ and are longstanding objectives of the RBA.

    Over time, low and stable inflation and full employment go hand in hand. Low and stable inflation – or price stability – is a prerequisite for strong and sustainable employment growth because it creates favourable conditions for households and businesses to plan, invest and create jobs without having to worry about inflation. So our two objectives are complementary over the longer term.

    Even in the shorter term, the two objectives often go hand in hand. For example, when there are ups and downs in demand, inflation tends to rise as the labour market tightens, and fall as it loosens. So a monetary policy response that returns inflation to target will, in time, also move the labour market towards full employment.

    But sometimes there are developments that push up inflation at the same time as they weigh down demand – and therefore employment. This includes sharp increases in energy prices and supply disruptions that push up prices more broadly. As I’ll discuss in a moment, such ‘negative supply shocks’ were part of the reason for the high inflation of recent years, though they were not the only factor.

    In the face of supply shocks that push up prices, we need to think about possible trade-offs: how do we balance our two goals in these circumstances?

    If a supply disruption is temporary and modest, monetary policy should mostly ‘look through’ it. Raising interest rates makes little sense if inflation is expected to ease once temporary supply disruptions are resolved – it would only weaken the job market.

    By contrast, when a supply shock is likely to have a longer lasting effect on the economy and inflation there may be stronger grounds for monetary policy to respond.

    A key concern here is that the longer inflation stays high, the more households’ and businesses’ expectations for future inflation could increase. This could, in turn, lead to second-round effects on inflation as households and businesses build higher expectations into their decisions.

    But if households and businesses instead maintain a high level of confidence that the Board will do what is needed to return inflation to target, inflationary shocks will have less effect on price and wage setting. That means we can look through adverse supply shocks to a greater extent – even those that we think could last for some time.

    This highlights another important way in which our objectives are complementary – and it’s something I want to emphasise. Having a strong track record of low and stable inflation puts us in the best possible position to support employment. It means there is less risk of inflation getting out of control, which allows inflation to be brought down with smaller increases in interest rates than otherwise. This in turn keeps the labour market closer to full employment.

    That is why maintaining well-anchored inflation expectations is a key benefit of inflation targeting frameworks, as I will return to in a moment, and why it is important that inflation returns to be sustainably in our target range.

    The dual mandate in the post-pandemic period

    So how did this dual mandate shape our policy response to the post-pandemic rise in inflation?

    First, the starting point for our monetary policy settings mattered – these were of course very accommodative, with the cash rate effectively at zero.

    Second, the causes of the pick-up in inflation were crucial. The initial pick-up in inflation was partly driven by some of the supply factors I have mentioned. Temporary disruptions in global supply chains during the pandemic led to strong increases in goods prices, and the war in Ukraine caused a spike in global energy prices.

    But it was also clear that demand was part of the story. Accommodative fiscal and monetary policy settings in the pandemic period supported strong growth in demand for goods during lockdowns, and this demand strength interacted with supply constraints to amplify inflationary pressures. Then, as lockdowns eased and the economy started to recover, demand for services also recovered strongly. As a result, conditions in product markets and labour markets were very tight by mid-2022.

    It was clear that we needed to increase interest rates to bring about a better balance between demand and supply, which would help to ease domestic price pressures. This need was reinforced by a concern that longer run inflation expectations could increase. If this happened, it would add to inflationary pressure and would ultimately require a larger policy response, and higher job losses.

    Although it was clear that we needed to raise interest rates to slow demand growth, it was less clear how quickly demand pressures needed to ease, how persistent global shocks or their effects would be, and how much we could afford to ‘look through’ those effects.

    The Board could have chosen to match the more significant rate increases of some other central banks to bring inflation back to target more quickly. But this could have risked a sharper and more persistent increase in the unemployment rate.

    Instead, the Board judged that a measured approach was consistent with its dual mandate. We increased the cash rate quickly at first – but we didn’t go as high as some other central banks. We then held the cash rate for over a year, even as some other central banks started easing monetary policy. Throughout, we kept a close eye on longer term inflation expectations, to ensure they remained anchored to the target.

    This strategy was designed to rein in inflation while also preserving as many of the gains in the labour market as possible – an example of our dual mandate in practice.

    How has this played out so far?

    Since the peak of inflation in 2022, headline inflation has declined by over 5 percentage points. And over the same period there has been a relatively modest easing in labour market conditions. The unemployment rate has increased from around 3.5 per cent in mid-2022 to 4.2 per cent in the June quarter this year, and remains low by historical standards.

    Crucially, the share of the population in work has remained around record highs; this is in contrast to declines in many other advanced economies (Graph 1).

    The fact that unemployment has remained low and employment growth has remained strong is remarkable – and very welcome.

    And it is striking that the increase in the unemployment rate has been small compared with the large decline in inflation. This is especially true compared with previous episodes of disinflation in Australia (Graph 2).

    Why is this?

    Part of the answer is that the supply-driven price increases that I mentioned earlier did turn out to be temporary, even if they flowed through to the economy over a long period of time (Graph 3). As these supply disruptions eventually subsided and oil prices declined, price pressures eased.

    And also as I mentioned earlier, the Board were very alert to the risk that inflation expectations could increase. Crucially, that did not happen.

    Instead, households and businesses continued to believe that inflation would return to the target range (Graph 4). This limited any so-called ‘second-round’ effects on inflation, which allowed inflation to fall without a sharp rise in the unemployment rate.

    This demonstrates the point I made earlier about how our two objectives can be complementary. A history of low and stable inflation, and the resulting public confidence in the inflation target, enabled the Board to adopt a strategy that protected the labour market as much as possible while still ensuring inflation came down.

    How has the labour market adjusted in the current cycle?

    I’ve already highlighted the comparatively modest increase in the unemployment rate over the past few years from a very low level, and that overall employment has continued growing. The rate of layoffs has increased only a little and remains at a remarkably low level by historical standards (Graph 5). The share of workers who are long-term unemployed also remains low.

    These are good outcomes – as job losses are an especially painful way for the labour market to adjust to tighter monetary policy. Losing a job can be one of the most stressful events in someone’s life, and it can have far-reaching implications for families and communities.

    While the unemployment rate has risen since its trough in late 2022, including an uptick in the month of June, there has been significant jobs growth in aggregate. Instead, the labour market has adjusted in some other – less disruptive – ways.

    First, job vacancies have declined from a very high level as firms have slowed hiring activity.

    Second, the average number of hours that people are working has declined. This follows a period when hours had increased sharply due to very strong demand for workers (Graph 6).

    Having your hours cut is tough, but it’s often preferable to losing a job altogether. And it’s worth noting that some of this decline in hours has been voluntary, especially over the past year or so.

    Third, there has been a decline in the share of workers voluntarily leaving their jobs (the ‘quits rate’). This suggests there could be less need for firms to compete to attract and retain workers, implying less upward pressure on wages growth than otherwise (Graph 7).

    In summary, the gradual easing in labour market conditions has so far been most evident in fewer job vacancies, reductions in hours worked and declining rates of voluntary job switching.

    These shifts aren’t without their challenges, but they all tend to be less disruptive than outright job losses.

    I should note that the RBA can’t wave a magic wand and control how adjustments in the labour market play out. Interest rates are too blunt an instrument for that, and I am not here to claim credit for the fact that the adjustment has so far taken place in a less costly way.

    By the same token, because the labour market can adjust in different ways, we do not ‘target’ any one adjustment mechanism, such as a set number of job losses, as we seek to bring demand and supply back into balance. Indeed, there have been substantial job gains over this period.

    Are we close to full employment?

    Let me bring the labour market story up to date.

    Our overall assessment at the time of our most recent forecast in May was that there was still some tightness in the labour market, and we expected it to ease a little over the remainder of this year.

    A broad range of indicators underpinned this assessment, and in many ways not much has changed. Firms still report significant difficulties finding labour, even if this constraint has eased somewhat recently. The ratio of vacancies to unemployed people remains high (Graph 8). At the same time, unit labour costs have been increasing strongly.

    In May we also highlighted the possibility that labour market conditions could be less tight than we thought. As I noted earlier, the low rate of job switching may imply less upward pressure on wage growth than otherwise. And the quarterly rate of underlying inflation has recently been around a pace that would be consistent with 2½ per cent in annual terms.

    For that reason, our May forecasts for wages growth and inflation incorporated some downwards judgement to reflect the possibility that there is more capacity in the labour market – and the economy more broadly – than is suggested by our usual assessment.

    Last week brought us the latest labour market data, which confirmed that the unemployment rate increased in the June quarter. Some of the coverage of the latest data suggested this was a shock – but the outcome for the June quarter was in line with the forecast we released in May. That on its own suggests that the labour market moved a little further towards balance, as we were anticipating. While the June monthly data showed a noticeable pick-up in the unemployment rate, other measures – such as the vacancy rate – have been stable recently. More broadly, leading indicators are not pointing to further significant increases in the unemployment rate in the near term.

    Nevertheless, the risks we highlighted in May remain. As always, there is uncertainty around how labour market conditions stand relative to full employment, and we will continue to closely monitor incoming labour market data. Our August Statement on Monetary Policy will provide a full updated assessment of labour market conditions and the outlook.

    Concluding remarks

    So, to conclude, our goals of low and stable inflation and full employment are closely linked and generally reinforce each other.

    A critical feature of the recent high-inflation period is that longer term inflation expectations remained anchored. This has enabled the Board’s monetary policy strategy of bringing inflation down in a relatively gradual way so as to limit the easing in labour market conditions.

    Much of the rebalancing of demand and supply in the labour market that has occurred in recent years has been reflected in declines in job vacancies, hours worked and voluntary job switching. There are many ways the labour market can adjust. The RBA doesn’t ‘target’ a specific outcome, like a certain unemployment rate or number of job losses, to reach full employment.

    Monetary policy cannot control how the adjustment happens, but if it can occur while keeping employment strong – and even growing – that is a great outcome for workers, families, communities and the economy.

    In the end, the best way to promote the economic welfare of Australians is by achieving low and stable inflation alongside full employment.

    And that is what the Board is constantly striving for.

    Thank you and I look forward to taking your questions.

    MIL OSI News –

  • MIL-Evening Report: World’s highest court issues groundbreaking ruling for climate action. Here’s what it means for Australia

    Source: The Conversation (Au and NZ) – By Wesley Morgan, Research Associate, Institute for Climate Risk and Response, UNSW Sydney

    JOHN THYS/AFP via Getty Images

    The world’s highest court says countries are legally obliged to prevent harms caused by climate change, in a ruling that repudiates Australia’s claims it is not legally responsible for emissions from our fossil fuel exports.

    The landmark ruling overnight by the International Court of Justice (ICJ) will reverberate in courts, parliaments and boardrooms the world over.

    In a closely watched case at The Hague, the judges were asked to clarify the legal obligations countries have to protect the Earth’s climate system for current and future generations. They were also asked to clarify the legal consequences for nations that fail to do this.

    At issue was the scope of legal obligations. During the court’s deliberations, Australia sided with other fossil fuel exporters and major emitters – including Saudi Arabia, the United States and China – to argue state obligations on climate change are restricted to those set out in climate-specific treaties such as the Paris Agreement.

    But the court disagreed. It found countries have additional obligations to protect the climate and take action to prevent climate harm inside and outside their boundaries. These obligations arise in human rights law, the law of the sea, and general principles of international law.

    This clear statement will have groundbreaking consequences. It means Australia must set a 2035 emissions reduction target in line with the best available science, as required under the Paris Agreement. But it must also go further, by regulating the fossil fuel industry to prevent further harm.

    Australia’s arguments rejected

    The ICJ is the primary legal organ of the United Nations. Its key role is to settle disputes between countries and clarify international law as it applies to nation states.

    While weighing up the obligations of countries to address the climate crisis, the court heard legal arguments from almost 100 countries, making it the largest case ever heard by the ICJ.

    The case threatened major implications for fossil-fuel producers such as Australia, which is heavily reliant on coal and gas exports.

    In his oral presentation to the ICJ, Australian Solicitor-General Stephen Donaghue told the court only the Paris Agreement should apply when it comes to mitigating climate change. Under the Paris rules, countries must set targets to cut domestic emissions, but they are not required to report emissions created when their fossil fuel exports are burned overseas.

    Donaghue and the Australian delegation also suggested responsibility for harms caused by climate change could not be pinned on individual states. Australia also argued protecting human rights does not extend to obligations to tackle climate change.

    The ICJ largely rejected these arguments.

    The ICJ judges largely rejected Australia’s arguments. Pictured: ICJ President Yuji Iwasawa (third from right) and members issuing their advisory opinion.
    JOHN THYS/AFP via Getty Images

    Fossil fuel era is over

    The court found Australia, and other fossil fuel producers, are obliged under international law to prevent fossil fuel companies in their territory from causing significant climate harm.

    This will essentially require a managed phase out of fossil fuel production. As the ICJ ruling says:

    Failure of a State to take appropriate action to protect the climate system from [greenhouse gas] emissions – including through fossil fuel production, fossil fuel consumption, the granting of fossil fuel exploration licences or the provision of fossil fuel subsidies – may constitute an internationally wrongful act which is attributable to that State.

    Australia is one of the world’s largest exporters of coal and gas. When burned overseas, emissions from Australia’s fossil fuel exports are more than double those of its entire domestic economy.

    Australia has approved hundreds of oil, gas and coal projects in recent decades. Dozens more are in the approvals pipeline. Final federal approval is still pending for Woodside’s massive Northwest Shelf gas project – which is set to add millions of tonnes of greenhouse gas emissions every year, for decades.

    The Australian government must heed the message from the Hague. The days of impunity for the fossil fuel industry are coming to an end.

    Woodside’s massive Northwest Shelf gas project is set to add millions of tonnes of greenhouse gas emissions every year.
    GREG WOOD/AFP via Getty Images

    A spark of hope from the Pacific

    Today’s ruling is remarkable for where it originated.

    In 2019, 27 law students at the University of the South Pacific in Vanuatu were given a challenge: find the most ambitious legal pathways towards climate justice.

    Each year, Vanuatu faces the prospect of cyclones, earthquakes, tsunamis, volcanoes, flooding rain and drought. Climate change compounds the risk to island communities – people who have done the least to contribute to the problem.

    The students decided to file a case with the world court. And so began a legal campaign that travelled from Vanuatu’s capital, Port Vila, through the halls of the United Nations in New York and to the world court in the Hague.

    In 2023 Vanuatu and other island nations succeeded in passing a UN General Assembly resolution. It asked the ICJ to give an advisory opinion on countries’ obligations to protect the climate system and legal consequences for states causing “significant harm” to Earth’s climate.

    This week’s ruling delivers poetic justice to Vanuatu and other vulnerable island states.

    The ruling delivers poetic justice to Vanuatu and other vulnerable island states. Pictured: representatives of Pacific states outside the International Court of Justice in December 2024.
    Michel Porro/Getty Images

    A new era for climate justice

    The court’s findings are likely to influence a wave of climate litigation worldwide. It could shape legal reasoning in Australia, too.

    Last week, a Federal Court judge found the Australian government has no legal duty of care to protect Torres Strait Islanders from climate change. If that case is appealed, a superior court may revisit the government’s obligations – and have regard to the ICJ ruling in doing so.

    The ICJ decision will also be relevant for the Queensland Land Court, which this week began hearing a challenge to stop a greenfield mine proposed by Whitehaven Coal – citing environmental and human rights impacts of the project’s emissions.

    Clarified international law obligations should also guide policymakers in the Australian parliament. With a huge majority in the House of Representatives and a climate-friendly Senate crossbench, the Albanese government has a mandate to implement policy in line with Australia’s international law obligations.

    Wesley Morgan is a fellow with the Climate Council of Australia

    Gillian Moon is a regular donor to the Australian Conservation Foundation, which is a party in the Whitehaven Coal case.

    – ref. World’s highest court issues groundbreaking ruling for climate action. Here’s what it means for Australia – https://theconversation.com/worlds-highest-court-issues-groundbreaking-ruling-for-climate-action-heres-what-it-means-for-australia-261842

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for July 24, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on July 24, 2025.

    World’s highest court issues groundbreaking ruling for climate action. Here’s what it means for Australia
    Source: The Conversation (Au and NZ) – By Wesley Morgan, Research Associate, Institute for Climate Risk and Response, UNSW Sydney JOHN THYS/AFP via Getty Images The world’s highest court says countries are legally obliged to prevent harms caused by climate change, in a ruling that repudiates Australia’s claims it is not legally responsible for emissions

    Politics with Michelle Grattan: Chris Bowen on why it’s ‘a little frustrating’ bidding for COP 31
    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Energy and climate issues are front and centre for both sides of politics. The government is struggling with pushback from some regional communities against the rollout of transmission lines and wind farms. At the same time, it will soon have

    Cycling’s governing body is introducing new rules to slow down elite riders. Not everyone’s happy
    Source: The Conversation (Au and NZ) – By Popi Sotiriadou, Associate Professor of Sport Management – Director Business Innovation, Griffith University MARCO BERTORELLO/AFP via Getty Images Most sports look to support their athletes to become “faster, higher, stronger” – in reference to the Olympic Games’ original motto – so it is perhaps surprising that cycling’s

    Swirling nebula of two dying stars revealed in spectacular detail in new Webb telescope image
    Source: The Conversation (Au and NZ) – By Benjamin Pope, Associate Professor, School of Mathematical and Physical Sciences, Macquarie University The day before my thesis examination, my friend and radio astronomer Joe Callingham showed me an image we’d been awaiting for five long years – an infrared photo of two dying stars we’d requested from

    UN’s highest court finds countries can be held legally responsible for emissions
    By Jamie Tahana in The Hague for RNZ Pacific The United Nations’ highest court has found that countries can be held legally responsible for their greenhouse gas emissions, in a ruling highly anticipated by Pacific countries long frustrated with the pace of global action to address climate change. In a landmark opinion delivered yesterday in

    Five arms, no heart and a global family: what DNA revealed about the weird deep-sea world of brittle stars
    Source: The Conversation (Au and NZ) – By Tim O’Hara, Senior Curator of Marine Invertebrates, Museums Victoria Research Institute A brittle star of the species _Gorgonocephalus eucnemis_. Lagunatic Photo / Getty Images You may have read that the deep sea is a very different environment from the land and shallow water. There is no light,

    Birds use hidden black and white feathers to make themselves more colourful
    Source: The Conversation (Au and NZ) – By Simon Griffith, Professor of Avian Behavioural Ecology, Macquarie University The green-headed tanager (_Tangara seledon_) has a hidden layer of plumage that is white underneath the orange feathers and black underneath the blue and green feathers. Daniel Field Birds are perhaps the most colourful group of animals, bringing

    Is sleeping a lot actually bad for your health? A sleep scientist explains
    Source: The Conversation (Au and NZ) – By Charlotte Gupta, Senior Postdoctoral Research Fellow, Appleton Institute, HealthWise Research Group, CQUniversity Australia Walstrom, Susanne/Getty We’re constantly being reminded by news articles and social media posts that we should be getting more sleep. You probably don’t need to hear it again – not sleeping enough is bad

    From grasslands to killing fields: why trees are bad news for one of Australia’s most stunning birds
    Source: The Conversation (Au and NZ) – By Gabriel Crowley, Adjunct Associate Professor in Geography, University of Adelaide JJ Harrison/Wikimedia, CC BY Picture this. A small, rainbow-coloured chick emerges from its nest for the first time. It stretches its wings and prepares to take flight. But before the fledgling’s life in the wild has begun,

    As seas rise and fish decline, this Fijian village is finding new ways to adapt
    Source: The Conversation (Au and NZ) – By Celia McMichael, Professor in Geography, The University of Melbourne Celia McMichael, CC BY-NC-ND In the village of Nagigi, Fiji, the ocean isn’t just a resource – it’s part of the community’s identity. But in recent years, villagers have seen the sea behave differently. Tides are pushing inland.

    After 70 years, twisted gothic thriller The Night of the Hunter remains as disturbing and beguiling as ever
    Source: The Conversation (Au and NZ) – By Ben McCann, Associate Professor of French Studies, University of Adelaide United Artists/Getty Images In 1955, director Charles Laughton crafted one of the darkest, strangest fairytales ever to come out of Hollywood. The Night of the Hunter remains visually exquisite and profoundly unsettling. Shortly before Ben Harper is

    Almost a third of NZ households face energy hardship – reform has to go beyond cheaper off-peak power
    Source: The Conversation (Au and NZ) – By Kimberley O’Sullivan, Senior Research Fellow, He Kainga Oranga – Housing and Health Research Programme, University of Otago Igor Suka/Getty Images The spotlight is again on New Zealand’s energy sector, with a group of industry bodies and independent retailers pushing for a market overhaul, saying the sector was

    Immigration courts hiding the names of ICE lawyers goes against centuries of precedent and legal ethics requiring transparency in courts
    Source: The Conversation (Au and NZ) – By Cassandra Burke Robertson, Professor of Law and Director of the Center for Professional Ethics, Case Western Reserve University Some immigration courts have allowed ICE attorneys to conceal their names during proceedings. Jacob Wackerhausen/iStock via Getty Images Something unusual is happening in U.S. immigration courts. Government lawyers are

    How the UK’s immigration system splits families apart – by design
    Source: The Conversation (Au and NZ) – By Nando Sigona, Professor of International Migration and Forced Displacement and Director of the Institute for Research into International Migration and Superdiversity, University of Birmingham arda savasciogullari/Shutterstock The letter that arrived for eleven-year-old Guilherme in June 2025 was addressed personally to him. The UK Home Office was informing

    4.48 Psychosis revival: the play’s window into a mind on the edge is as brutal as ever
    Source: The Conversation (Au and NZ) – By Leah Sidi, Associate Professor of Health Humanities, UCL Under bright lights, the audience looks at a bare stage on two planes. Below, a small stage is white and empty, occupied only by a table and two chairs. Above, a huge, slanted mirror reflects a bird’s-eye view of

    Togo’s ‘Nana-Benz’: how cheap Chinese imports of African fabrics has hurt the famous women traders
    Source: The Conversation (Au and NZ) – By Fidele B. Ebia, Postdoctoral fellow, Duke Africa Initiative, Duke University The manufacturing of African print textiles has shifted to China in the 21st century. While they are widely consumed in African countries – and symbolic of the continent – the rise of “made in China” has undermined

    2 ways cities can beat the heat: Which is best, urban trees or cool roofs?
    Source: The Conversation (Au and NZ) – By Ian Smith, Research Scientist in Earth & Environment, Boston University Trees like these in Boston can help keep neighborhoods cooler on hot days. Yassine Khalfalli/Unsplash, CC BY When summer turns up the heat, cities can start to feel like an oven, as buildings and pavement trap the

    Indonesian military set to complete Trans-Papua Highway under Prabowo’s rule
    By Julian Isaac The Indonesian Military (TNI) is committed to supporting the completion of the Trans-Papua Highway during President Prabowo Subianto’s term in office. While the military is not involved in construction, it plays a critical role in securing the project from threats posed by pro-independence Papuan resistance groups in “high-risk” regions. Spanning a total

    View from The Hill: Nationals’ mavericks ensure the Coalition is the issue in parliament’s first week
    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra For almost as long anyone can remember, the Nationals have caused the Coalition grief on climate and energy policy. Still, for Barnaby Joyce to bring on a fresh load of trouble – with a private member’s bill to scrap Australia’s

    Childcare centres will have funding stripped if they’re not ‘up to scratch’. Is this enough?
    Source: The Conversation (Au and NZ) – By Erin Harper, Lecturer, School of Education and Social Work, University of Sydney Maskot/Getty Images Childcare centres will lose their eligibility for fee subsidies if they don’t meet safety standards, according to a new bill introduced to parliament on Wednesday. As Education Minister Jason Clare told parliament: it

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for July 24, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on July 24, 2025.

    World’s highest court issues groundbreaking ruling for climate action. Here’s what it means for Australia
    Source: The Conversation (Au and NZ) – By Wesley Morgan, Research Associate, Institute for Climate Risk and Response, UNSW Sydney JOHN THYS/AFP via Getty Images The world’s highest court says countries are legally obliged to prevent harms caused by climate change, in a ruling that repudiates Australia’s claims it is not legally responsible for emissions

    Politics with Michelle Grattan: Chris Bowen on why it’s ‘a little frustrating’ bidding for COP 31
    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Energy and climate issues are front and centre for both sides of politics. The government is struggling with pushback from some regional communities against the rollout of transmission lines and wind farms. At the same time, it will soon have

    Cycling’s governing body is introducing new rules to slow down elite riders. Not everyone’s happy
    Source: The Conversation (Au and NZ) – By Popi Sotiriadou, Associate Professor of Sport Management – Director Business Innovation, Griffith University MARCO BERTORELLO/AFP via Getty Images Most sports look to support their athletes to become “faster, higher, stronger” – in reference to the Olympic Games’ original motto – so it is perhaps surprising that cycling’s

    Swirling nebula of two dying stars revealed in spectacular detail in new Webb telescope image
    Source: The Conversation (Au and NZ) – By Benjamin Pope, Associate Professor, School of Mathematical and Physical Sciences, Macquarie University The day before my thesis examination, my friend and radio astronomer Joe Callingham showed me an image we’d been awaiting for five long years – an infrared photo of two dying stars we’d requested from

    UN’s highest court finds countries can be held legally responsible for emissions
    By Jamie Tahana in The Hague for RNZ Pacific The United Nations’ highest court has found that countries can be held legally responsible for their greenhouse gas emissions, in a ruling highly anticipated by Pacific countries long frustrated with the pace of global action to address climate change. In a landmark opinion delivered yesterday in

    Five arms, no heart and a global family: what DNA revealed about the weird deep-sea world of brittle stars
    Source: The Conversation (Au and NZ) – By Tim O’Hara, Senior Curator of Marine Invertebrates, Museums Victoria Research Institute A brittle star of the species _Gorgonocephalus eucnemis_. Lagunatic Photo / Getty Images You may have read that the deep sea is a very different environment from the land and shallow water. There is no light,

    Birds use hidden black and white feathers to make themselves more colourful
    Source: The Conversation (Au and NZ) – By Simon Griffith, Professor of Avian Behavioural Ecology, Macquarie University The green-headed tanager (_Tangara seledon_) has a hidden layer of plumage that is white underneath the orange feathers and black underneath the blue and green feathers. Daniel Field Birds are perhaps the most colourful group of animals, bringing

    Is sleeping a lot actually bad for your health? A sleep scientist explains
    Source: The Conversation (Au and NZ) – By Charlotte Gupta, Senior Postdoctoral Research Fellow, Appleton Institute, HealthWise Research Group, CQUniversity Australia Walstrom, Susanne/Getty We’re constantly being reminded by news articles and social media posts that we should be getting more sleep. You probably don’t need to hear it again – not sleeping enough is bad

    From grasslands to killing fields: why trees are bad news for one of Australia’s most stunning birds
    Source: The Conversation (Au and NZ) – By Gabriel Crowley, Adjunct Associate Professor in Geography, University of Adelaide JJ Harrison/Wikimedia, CC BY Picture this. A small, rainbow-coloured chick emerges from its nest for the first time. It stretches its wings and prepares to take flight. But before the fledgling’s life in the wild has begun,

    As seas rise and fish decline, this Fijian village is finding new ways to adapt
    Source: The Conversation (Au and NZ) – By Celia McMichael, Professor in Geography, The University of Melbourne Celia McMichael, CC BY-NC-ND In the village of Nagigi, Fiji, the ocean isn’t just a resource – it’s part of the community’s identity. But in recent years, villagers have seen the sea behave differently. Tides are pushing inland.

    After 70 years, twisted gothic thriller The Night of the Hunter remains as disturbing and beguiling as ever
    Source: The Conversation (Au and NZ) – By Ben McCann, Associate Professor of French Studies, University of Adelaide United Artists/Getty Images In 1955, director Charles Laughton crafted one of the darkest, strangest fairytales ever to come out of Hollywood. The Night of the Hunter remains visually exquisite and profoundly unsettling. Shortly before Ben Harper is

    Almost a third of NZ households face energy hardship – reform has to go beyond cheaper off-peak power
    Source: The Conversation (Au and NZ) – By Kimberley O’Sullivan, Senior Research Fellow, He Kainga Oranga – Housing and Health Research Programme, University of Otago Igor Suka/Getty Images The spotlight is again on New Zealand’s energy sector, with a group of industry bodies and independent retailers pushing for a market overhaul, saying the sector was

    Immigration courts hiding the names of ICE lawyers goes against centuries of precedent and legal ethics requiring transparency in courts
    Source: The Conversation (Au and NZ) – By Cassandra Burke Robertson, Professor of Law and Director of the Center for Professional Ethics, Case Western Reserve University Some immigration courts have allowed ICE attorneys to conceal their names during proceedings. Jacob Wackerhausen/iStock via Getty Images Something unusual is happening in U.S. immigration courts. Government lawyers are

    How the UK’s immigration system splits families apart – by design
    Source: The Conversation (Au and NZ) – By Nando Sigona, Professor of International Migration and Forced Displacement and Director of the Institute for Research into International Migration and Superdiversity, University of Birmingham arda savasciogullari/Shutterstock The letter that arrived for eleven-year-old Guilherme in June 2025 was addressed personally to him. The UK Home Office was informing

    4.48 Psychosis revival: the play’s window into a mind on the edge is as brutal as ever
    Source: The Conversation (Au and NZ) – By Leah Sidi, Associate Professor of Health Humanities, UCL Under bright lights, the audience looks at a bare stage on two planes. Below, a small stage is white and empty, occupied only by a table and two chairs. Above, a huge, slanted mirror reflects a bird’s-eye view of

    Togo’s ‘Nana-Benz’: how cheap Chinese imports of African fabrics has hurt the famous women traders
    Source: The Conversation (Au and NZ) – By Fidele B. Ebia, Postdoctoral fellow, Duke Africa Initiative, Duke University The manufacturing of African print textiles has shifted to China in the 21st century. While they are widely consumed in African countries – and symbolic of the continent – the rise of “made in China” has undermined

    2 ways cities can beat the heat: Which is best, urban trees or cool roofs?
    Source: The Conversation (Au and NZ) – By Ian Smith, Research Scientist in Earth & Environment, Boston University Trees like these in Boston can help keep neighborhoods cooler on hot days. Yassine Khalfalli/Unsplash, CC BY When summer turns up the heat, cities can start to feel like an oven, as buildings and pavement trap the

    Indonesian military set to complete Trans-Papua Highway under Prabowo’s rule
    By Julian Isaac The Indonesian Military (TNI) is committed to supporting the completion of the Trans-Papua Highway during President Prabowo Subianto’s term in office. While the military is not involved in construction, it plays a critical role in securing the project from threats posed by pro-independence Papuan resistance groups in “high-risk” regions. Spanning a total

    View from The Hill: Nationals’ mavericks ensure the Coalition is the issue in parliament’s first week
    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra For almost as long anyone can remember, the Nationals have caused the Coalition grief on climate and energy policy. Still, for Barnaby Joyce to bring on a fresh load of trouble – with a private member’s bill to scrap Australia’s

    Childcare centres will have funding stripped if they’re not ‘up to scratch’. Is this enough?
    Source: The Conversation (Au and NZ) – By Erin Harper, Lecturer, School of Education and Social Work, University of Sydney Maskot/Getty Images Childcare centres will lose their eligibility for fee subsidies if they don’t meet safety standards, according to a new bill introduced to parliament on Wednesday. As Education Minister Jason Clare told parliament: it

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Senator Murray, British Columbia Premier Eby, WA Small Businesses Speak Out About How Trump’s Reckless Trade War with Canada is Creating Chaos, Hurting Business, and Raising Costs

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    ICYMI: Senator Murray Hears from Mayors and Business Leaders About How Trump’s Trade War is Hurting Border Communities in Northwest Washington

    AP: Trump’s 35% Canada tariff plan deepens a rift between the neighbors

    ***WATCH HERE; DOWNLOAD HERE***

    Washington, D.C. –  Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, held a virtual press conference with British Columbia Premier David Eby and Washington state business leaders to sound the alarm on how President Trump’s trade war with Canada is driving down business and creating chaos for families, small businesses, and economies on both sides of the border.

    Canada is the second-largest export market for Washington state, exporting $7.9 billion in goods and $2.2 billion in services annually. Washington state imports $17.8 billion in goods from Canada each year, with energy imports accounting for 54 percent of that total. 608 Canadian-owned companies employ 25,050 workers in Washington state. Canada is also the largest source of international visitors to the U.S., accounting for 20.4 million visits and $20.5 billion in spending in 2024. The Bureau of Transportation Statistics reported a 35 percent drop in border crossings into the U.S. through the Peace Arch and Pacific Highway Crossings in Washington state this May, compared to the same month last year. Additional data on trade between Washington state and Canada is available HERE.  

    President Trump recently announced a plan to impose 35 percent tariffs across-the-board on imports from Canada beginning August 1st. This comes after Trump has already applied 50 percent tariffs on steel and aluminum—of which Canada is the largest exporter to the United States—and 25 percent duties on cars, excluding U.S. made parts. Yesterday, after a meeting with Canada’s political leaders—including Premier Eby—Prime Minister Mark Carney downplayed the chances of success in talks aimed at reaching a trade deal with President Trump.

    “Canada isn’t just a trading partner for us—it is our ally, and they are our neighbor. We have friends, and families that span that northern border. We have supply lines and businesses that depend on the open flow of trade, tourism, and goodwill between our countries,” Senator Murray said at the press conference today. “Canada is one of our largest trading partners—accounting for, every year, nearly $8 billion in exports including our seafood, apples, and airplane parts and more than $2 billion in cross-border tourism and business. Not to mention we actually import nearly $18 billion in goods from Canada each year. So, for us, having Trump throw a tantrum with these tariffs is really throwing a wrench into our businesses that have operated for decades, and throwing communities on both sides of the border into chaos, and really throwing our neighborly way of life into jeopardy.”

    “Here’s what Trump needs to understand: this is not reality TV. It is actual reality,” Senator Murray continued. “These aren’t people playing ‘businessman’—they are trying to run actual businesses, that employ actual Americans. Unlike him, they don’t thrive on outrage. And they do not want any drama, they need certainty, they need common sense. And they need policies that bring in customers, not drive them away, and bring prices down, not drive them up. So, I want you all to know I am going to keep fighting in Congress to put an end to these pointless tariffs that are making life harder for people on both sides of our border. And I will keep pushing for legislation to reassert Congress’s power over tariff policy. It is beyond clear we cannot entrust this responsibility to a President who is toggling economic policies on and off like a kid with a joystick.”

    “We have a long and happy relationship with the American people; they’re our friends, our family members and coworkers. President Trump’s actions have broken our trust with his government, but they’ll never shake our relationship with our closest neighbours. I am grateful for Senator Murray’s leadership at this time in calling out a President that ran on an affordability agenda and is now bringing in tariffs that are raising the price of everyday goods for hard working families,” said David Eby, Premier of British Columbia.  

    “President Trump seems to have created the 51st state that he was talking about, which is the great state of uncertainty. And this is affecting all of us and that we predict that in 2025 alone, that tariffs will cost SEL $100 million in unanticipated federal taxes. These $100 million, divided by our 7000 owners, is a hit of $14,000 per employee around the world. And I agree so much with Senator Murray that the best thing we can do is to support the efforts by Democrats and Republicans in both the House and the Senate to restore congressional control over tariffs and block this President and future ones from abusing executive orders, especially here in the case of free trade,” saidDr. Ed Schweitzer, founder of Schweitzer Engineering Laboratories in Pullman.

    “Maintaining good relations with our northern neighbors is paramount to our maritime industry. Along with being a key supplier for vital parts of the industry, our relations also impact negotiations, such as the Pacific Salmon Treaty being negotiated right now. These negotiations and trade rely on goodwill and good relations, and we cannot state enough how much we value our Canadian partners in all sectors of our maritime industry here in the United States,” said Dan Tucker, Executive Director of the Whatcom Working Waterfront Coalition.

    Washington state has one of the most trade-dependent economies of any state in the country, with 40 percent of jobs in the state tied to international commerce. Washington state is the top U.S. producer of apples, blueberries, hops, pears, spearmint oil, and sweet cherries—all of which risk losing vital export markets due to retaliatory tariffs from key trading partners including Canada. Additionally, more than 12,000 small and medium-sized companies in Washington state export goods and will struggle to absorb the impact of retaliatory tariffs. Trump’s tariffs during his first term were extremely costly for Washington state—for example, India imposed a 20 percent retaliatory tariff on U.S. apples, causing Washington apple shipments to India to fall by 99 percent and growers to lose hundreds of millions of dollars in exports.

    Senator Murray has been a vocal opponent of Trump’s chaotic trade war and has been constantly lifting up the voices of people in every corner of Washington state who are being harmed by this administration’s approach to trade. Senator Murray continues to call on Republicans to end Trump’s trade war—which Congress has the power to do—and take back Congress’ Constitutionally-granted power to impose tariffs. Earlier this year—among many other events—Senator Murray brought together leaders across Washington state to highlight how Trump’s ongoing trade war is already a devastating hit to Washington state’s economy, businesses, and our agriculture sector, and held a roundtable discussion in Blaine on how Trump’s chaotic trade war and senseless tariffs are specifically hurting Washington state’s border communities and local businesses. Senator Murray has also taken to the Senate floor to lay out how Trump’s chaotic trade war is seriously threatening our economy, American businesses, families’ retirement savings, and so much else.

    Senator Murray’s full remarks, as delivered, are below and video is HERE:

    “Thank you everyone for joining us today.

    “You know for a so-called businessman, President Trump doesn’t seem to know the first thing about running a business—then again, maybe that explains his six bankruptcies. But besides that, every time Trump opens his mouth, he is demonstrating that he doesn’t understand how tariffs work and doesn’t care if his absurd tax hikes are hurting our economy and our small businesses. The reality is plain as day. Especially in places like Washington state where we are on the front line of a trade war with our neighbors that nobody asked for.

    “Canada isn’t just a trading partner for us—it is our ally, and they are our neighbor. We have friends, and families that span that northern border. We have supply lines and businesses that depend on the open flow of trade, tourism, and goodwill between our countries.

    “Canada is one of our largest trading partners—accounting for, every year, nearly $8 billion in exports including our seafood, apples, and airplane parts and more than $2 billion in cross-border tourism and business. Not to mention we actually import nearly $18 billion in goods from Canada each year.  

    “So, for us, having Trump throw a tantrum with these tariffs is really throwing a wrench into our businesses that have operated for decades, and throwing communities on both sides of the border into chaos, and really throwing our neighborly way of life into jeopardy.

    “How are farmers supposed to stay afloat when Trump just jacked up the cost of the supplies they need, at the same time that he is driving some of their best customers away?

    “How are businesses and factories supposed to keep the lights on when their supply chains are being disrupted, and their inputs—like energy, and steel, and aluminum—keep getting more expensive?

    “How are hotels and towns that are fueled by tourism supposed to keep their doors open, when cancellations are going up, bookings are going down, and 75 percent of Canadian travelers who weregoing to visit the U.S. are deciding they’d now rather go somewhere the President doesn’t constantly attack?

    “So, let’s be clear, these aren’t hypothetical questions. They are the cold, hard realities Trump is forcing onto our communities. It doesn’t take much imagination to see how hard Trump’s trade war is making life for people—especially for our border communities.

    “All you have to do is listen. Talk to ferry operators, who are feeling the squeeze of reduced travel. Talk to community leaders in Bellingham and Whatcom County, where 12 percent of taxable retail sales came from Canadians. Talk to business owners in Point Roberts, which just completely depends on Canadian trade and tourism.

    “I have been telling this over and over to my colleagues and anyone who will listen. If you want to understand the real cost of what is happening, come to Washington state, talk to people on the front lines of this pointless, painful trade war.

    “And that’s exactly why we are having this call today. To put a spotlight on what we are seeing on both sides of the border; to make more of these voices heard; to raise the alarm; and maybe even offer a little economics lesson to Trump—since he appears to need it.

    “When you raise the costs for small businesses—which is exactly what tariffs do, when you drive away loyal customers, and trading partners—which is exactly what happens when you toss up barriers and toss out insults—you make life harder, and you raise costs for everyday Americans. It is very clear that President Trump wants to treat tariffs like a reality TV show, constantly playing up the outrage and the uncertainty of the ‘Will he? Won’t he?’ drama that he seems to like living in. But the questions that I am hearing when I talk to folks home in Washington state, are more like, ‘Why on Earth would he do this?’ and ‘What the heck is he thinking?’ and ‘How am I going to be able to afford this?’

    “Because here’s what Trump needs to understand: this is not reality TV. This is actual reality. These aren’t peopleplaying ‘businessman’—they are trying to run actual businesses, that employ actual Americans. Unlike him, they don’t thrive on outrage. And they do not want any drama, they need certainty, they need common sense. And they need policies that bring in customers, not drive them away, and bring prices down, not drive them up.

    “So, I want you all to know I am going to keep fighting in Congress to put an end to these pointless tariffs that are making life harder for people on both sides of our border. And I will keep pushing for legislation to reassert Congress’s power over tariff policy.

    “It is beyond clear we cannot entrust this responsibility to a President who is toggling economic policies on and off like a kid with a joystick.

    “We have got to keep talking about this, which is why we are having this call today, until more of my Republican colleagues get the message. And I thank everybody who’s participating in this today to talk about what you are seeing.

    “So, I’m joined on this call by British Columbia Premier David Eby, he will be speaking next. As I’ve told him in the past, I appreciate our relationship and thank you for working with us on this. It’s a joy to have you on this call.”

    MIL OSI USA News –

  • MIL-OSI New Zealand: Connecting with the medical devices industry

    Source: PHARMAC

    The Medical Technology Association of New Zealand (MTANZ) is the leading industry body representing medical technology manufacturers, importers and distributors of medical devices in New Zealand. HealthTech Week is New Zealand’s national conference for health technology industry and research.

    “It was fantastic to have such a strong presence at HealthTech week this year,” says Pharmac’s Director Medical Devices, Catherine Epps.

    Deputy Prime Minister and Associate Minister of Health – Pharmac, David Seymour, gave the opening address, followed shortly afterwards by Pharmac’s Board Chair Paula Bennett, who spoke about her work as Board chair of Pharmac and vision for the organisation

    Catherine Epps then provided an update on the progress of Pharmac’s medical devices programme.

    “It was great to be able to share the significant progress that we’ve made on the comprehensive list of medical devices,” she says.

    New Zealand’s first ever nationwide list of medical devices, effective from 1 July, will support better patient care and long-term investments in medical devices.

    This list represents medical devices that are used in hospitals or provided to people to use at home.

    “Having a comprehensive list of what is used will support the health system to make more strategic, long-term investments in medical devices,” Epps says.

    HealthTech week provided a great opportunity for Pharmac staff to meet with suppliers, hear their questions, and share more about our work.  

    “It’s essential that Pharmac’s medical devices programme is informed by those who work with medical devices every day – whether that’s clinicians, suppliers, consumers, advocates, or other industry partners,” says Epps.

     “We couldn’t have success in this programme without working together with many others,” she says.

    MIL OSI New Zealand News –

  • MIL-OSI Security: Sioux City Man Sentenced to More than Five Years for Illegal Possession of Firearms

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    Pierre-Louis had recently been discharged from prison for carjacking.

    Romario Pierre-Louis, age 30, from Sioux City, was sentenced July 18, 2025, to more than 5 years in federal prison, after a March 6, 2025, guilty plea to possession of a firearm by a felon.

    Evidence in the case revealed just after midnight on October 15, 2024, law enforcement was called to a domestic assault disturbance.  Law enforcement was informed that Pierre-Louis was armed and was pointing a gun at people in the area.  When officers arrived on scene, a witness stated that after the dispute Pierre-Louis was seen carrying a rifle wrapped in a blanket along with a couple of pistols to a nearby residence.  The weapons were recovered from the neighbor’s house, where Pierre-Louis tried to hide them. Pierre-Louis admitted to law enforcement he knew he was not able to have firearms due to being a felon.  Pierre-Louis was convicted in 2019 of armed carjacking in Cook County, Illinois for which he served six years in state prison. He had recently been released from that sentence. 

    Pierre-Louis was sentenced in Sioux City by United States District Court Judge Leonard T. Strand to 63 months’ imprisonment.  He must also serve a 3-year term of supervised release after the prison term.  There is no parole in the federal system.

    This case was brought as part of Project Safe Neighborhoods (PSN).  PSN is the centerpiece of the Department of Justice’s violent crime reduction efforts.  PSN is an evidence-based program proven to be effective at reducing violent crime. Through PSN, a broad spectrum of stakeholders work together to identify the most pressing violent crime problems in the community and develop comprehensive solutions to address them. As part of this strategy, PSN focuses enforcement efforts on the most violent offenders and partners with locally based prevention and reentry programs for lasting reductions in crime.

    Pierre-Louis is being held in the United States Marshal’s custody until he can be transported to a federal prison.

    The case was investigated by Sioux City Police department and the United States Department of Justice’s Bureau of Alcohol Tabaco Firearms and Explosives (ATF), and was prosecuted by Assistant United States Attorney Forde Fairchild

    Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.pl.

    The case file number is 24-4085.

    Follow us on X @USAO_NDIA.

    MIL Security OSI –