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Category: housing

  • MIL-OSI United Kingdom: Check your agent’s name

    Source: United Kingdom – Executive Government & Departments

    News story

    Check your agent’s name

    Make sure your agent’s name in our system matches your contract.

    If you want to use an agent to manage your business rates, you need to appoint them in our Check and Challenge service. 

    But if the agent’s name in our service does not match the name on your contract, you should be cautious. You should tell us by contacting agentstandards@voa.gov.uk.  

    You can also find out how long an agent has been using their current business name. You can get information about a company for free. 

    Some rogue agents may change their name often. 

    Our  VOA agent standards set out clear expectations for agents regarding:  

    • their behaviour   

    • their professional practice   

    • the service they provide to their customers   

    We take breaches of our agent standards very seriously. We will always take action if we substantiate a breach of the standards.  

    You should be cautious of any agent who:   

    • tries to pressure you to make a decision or sign a contract   

    • says they are acting on behalf of the VOA or forwards emails they claim are from the VOA   

    • demands large sums of money up front   

    • makes claims about ‘unclaimed credits’ or similar   

    Remember – you don’t have to use an agent to manage your business rates.   

    You can challenge your rateable value through our online service. This service is free to use.   

    If you want an agent to manage your business rates, use our checklist to choose an agent. Don’t let an agent choose you.  

    Using an agent who is a member of a professional body may provide extra reassurance as they will be subject to that body’s rules and regulations. The Institute of Revenues, Rating, Valuation, Royal Institution of Chartered Surveyors and Rating Surveyors’ Association have published joint standards that their members should follow. 

    We also have guidance on staying safe from scammers.   

    We collect evidence of poor agent behaviour and practices in the course of our work. This evidence allows us to proactively address issues or concerns.   

    If you are concerned about poor behaviour by agents, send any evidence to agentstandards@voa.gov.uk. 

    We cannot advise you on contractual issues you may have with any agent. You should contact the Citizens Advice Consumer Service. They have a helpline you can call on 0808 223 1133, Monday to Friday, 9am to 5pm. 

    If you think a business has broken the law or acted unfairly, you can also report them to Trading Standards via Citizens Advice. 

    If you believe you are a victim of fraud, you can make a report to Action Fraud.

    Updates to this page

    Published 22 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New Executive Chair to strengthen government’s plan to unleash life sciences for a healthier, wealthier Britain

    Source: United Kingdom – Executive Government & Departments

    Press release

    New Executive Chair to strengthen government’s plan to unleash life sciences for a healthier, wealthier Britain

    Steve Bates OBE appointed to help champion research and innovation and the use of technology to transform health and grow the UK economy.

    • Industry leader Steve Bates OBE appointed as Executive Chair for the Office for Life Sciences.
    • Office for Life Sciences to report into Health, Science and Business departments, recognising the industry’s importance to the health and growth missions in the Plan for Change.
    • Appointment is immediate action on Life Sciences Sector Plan pledge to strengthen links between sector and government.

    Industry leader Steve Bates OBE has today (Tuesday 22 July) been appointed as Executive Chair of the Office for Life Sciences, the cross-Government unit that champions research, innovation and the use of technology to transform health and grow the economy across the UK.

    The Office for Life Sciences (OLS) will report directly into the Business Secretary in addition to the Health Secretary and Technology Secretary, recognising that driving economic growth and investment in this key sector will be a crucial part of the OLS agenda in support of the Plan for Change.

    The moves show the government is taking immediate action to deliver the Life Sciences Sector Plan, the ambitious blueprint for unleashing the UK’s circa £100 billion life sciences sector as a force for economic growth and bettering the nation’s health, in aid of the Plan for Change. Forming one of the 8 core pillars of the modern Industrial Strategy, the Plan sets out the government’s commitment to deepening its ties with the life sciences sector, and strengthening the Office for Life Sciences to do so.

    It builds on the positive momentum coming from recent successes for OLS, such as the recent £1 billion investment deal with BioNTech which the Office was instrumental in delivering, and backing for groundbreaking research like that supported by Our Future Health and UK Biobank, as well as its role in the up to £600 million investment to deliver a Health Data Research Service that will be unmatched globally – bringing the power of data to bear to unlock breakthroughs in the diagnosis and treatment of diseases.

    Steve Bates is a recognised industry figurehead, having led the UK BioIndustry Association as CEO since 2012. He sits on the UK Life Sciences Council, and was a founder member of the UK Government’s Vaccine Taskforce. Steve was made OBE for services to innovation in 2017 and became a Fellow of the Academy of Medical Sciences in 2020.

    Steve Bates OBE said:

    The UK is great at life sciences. Great science, growth finance, world leading entrepreneurs, agile regulators, and key health data assets, all network here within a sector focused industrial strategy.

    I know we can deliver global health outcomes and UK economic growth because we did so through the Vaccine Taskforce during COVID. I look forward to selling the sector’s great story to the globe. It’s a privilege to help life science businesses start, grow, scale and renew in the UK ecosystem to deliver economic growth, prosperity and health.

    Science and Technology Secretary Peter Kyle said:

    The life sciences sector plays a unique role, as a catalyst for both economic prosperity, and better health outcomes for people across the UK. Its ongoing success will be pivotal to both our Plan for Change, and our modern Industrial Strategy.

    It is only right that we draw upon the nation’s best talent and expertise to push this sector on to even greater heights, and to that end I am delighted that Steve will be joining us in these endeavours.

    Health and Social Care Secretary Wes Streeting said:

    We’re turning the UK into a life sciences powerhouse and harnessing the genius of our country’s greatest scientific minds.

    I know that Steve will bolster this mission and help make Britain the envy of the world when it comes to medical innovation.

    Under his leadership, I’m confident the Office for Life Sciences will continue to drive groundbreaking research and fulfil the Plan for Change’s goal to transform healthcare for patients across the country.

    Business and Trade Secretary Jonathan Reynolds said:

    We want to make the UK a life sciences superpower. That’s why we earmarked it as a priority sector in our modern Industrial Strategy, which sets out how we will back the industry to keep it at the forefront of global innovation.

    This single front door for industry to engage with government will be key to achieving our life sciences mission, as will appointing talented leaders like Steve – boosting the sector to deliver on our Plan for Change to grow the economy.

    The Office for Life Sciences is a Directorate of 120 civil servants, which drives policy and delivery in the Life Sciences sector, supporting the government’s ambitions on economic growth and improved health that sit at the heart of the Plan for Change. Currently overseen by the Health Secretary and Technology Secretary, it will now also have more formalised links into the Department for Business and Trade to support the government’s Industrial Strategy.

    In his new role, Bates will act as an ambassador both domestically and internationally for the UK life sciences sector. He will work across government and the wider public sector to ensure engagement with industry around policy and investment happens productively and at pace, working closely with all 3 Secretaries of State, providing support and expert advice as required. 

    The UK is already a global leader in life sciences, with the sector worth around £100 billion to the economy, and employing around 300,000 people. These moves show the government’s determination to immediately deliver on its goals for the sector, as laid out in the Life Sciences Sector Plan. Developed in close coordination with the Government’s 10 Year Health Plan, the Plan is a vision for doubling down on the sector’s strengths – turning cutting-edge research into real-world results: new treatments, faster diagnoses, and more lives saved. It’s about making sure breakthroughs happen here – and stay here – creating jobs, improving lives in every part of the country, and driving growth.

    Notes to editors

    Steve Bates’ appointment will further strengthen our expert leadership in life sciences, working with OLS Director Rosalind Campion.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 3000

    Updates to this page

    Published 22 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: From the first stitch to the finished image: how costumes are created at the Gorky Film Studio

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    Cult films and millions of viewers watching TV – Gorky Film Studio, the oldest in Moscow and Russia, is celebrating its 110th anniversary this year. Today, it is one of the most important sites of the Moscow film cluster: filming takes place here, young actors, directors and cameramen are trained, and costumes for movie characters are created here. The latter is the job of the masters of the sewing shop of the costume and props complex. They can bring almost any idea to life. In their hands, rolls of fabric are transformed into clothes of different eras and styles.

    A mos.ru correspondent went to the workshops to find out how the costumes of movie characters are designed and created.

    From a Russian fairy tale to a flight into space

    The costume and props complex is located on the territory of the Gorky Film Studio on Sergei Eisenstein Street (8, building 4). It occupies a four-story building with large windows not far from the main building.

    We go inside and go up to the third floor. At the entrance we are met by rows of mannequins in traditional Russian costumes, ball gowns, sheepskin coats and tunics – a real inspiration for tailoring masters. We pass into the workshop with a sign “Cutting”. Elena Gritskevich, the chief cutter of the costume and props complex of the Gorky Film Studio, works at a long table surrounded by sketches and fabrics.

    “The production of a film costume is a step-by-step process. Here, in the cutting room, the foundations for future outfits are laid. When the group is preparing to shoot a film, a costume designer is appointed who plans how the characters will look and what they will wear. He comes up with an image, draws sketches and takes photographs, buys fabric and contacts us. Together with him, we discuss the image, the features of the cut and other details, and I get to work. First, I agree with the actor who will be involved in this film about a meeting. We take measurements so that the suit fits well. Based on the measurements, I create patterns – a pattern on craft paper, and then cut it on fabric,” says Elena Gritskevich.

    Over almost 30 years of work at the film studio, she created hundreds of patterns for a variety of images. These included outfits for fairy-tale characters, ball gowns for the heroines of screen adaptations of classical works, and spacesuits for movie astronauts.

    Elena Gritskevich is currently working on a 19th-century military uniform for a historical film. There are images, sketches and drawings on the table, and a mannequin is wearing a cut-out uniform with bright temporary stitches and French pins. The craftsman always works by hand: she makes marks on the pattern with a piece of tailor’s soap and cuts out the product with large tailor’s scissors. Another indispensable tool is a brush. It can be used to remove any remaining lint from the fabric.

    “The main thing in the work of a cutter is not just to design a suit, but to give it the desired look. The fact is that modern fabric is different from that of past centuries. It is lighter, freer and, as a rule, stretches well. To give it shape, we use special linings, glue an additional layer from the inside, use interlining with horsehair. For example, this is how we create military uniforms,” adds Elena Gritskevich.

    Once the base is ready, the master invites the actor to a fitting. In the next room, at a large mirror, the final touches are made to the pattern. Then it is transferred to the sewing shop.

    Secrets of the sewing workshop

    The sewing shop can be easily found by the clatter of sewing machines. We pass into a spacious room where four craftsmen work at tables opposite wide windows. In front of each is a sewing machine with a figured iron body and a rotating flywheel. Here, the pattern is transformed into clothing for the cinema.

    All seams are made on industrial machines, and the edges are processed on an overlock. It simultaneously unwinds four spools and intertwines the threads, forming a line similar to a spider web. The result is neat seams. “Another useful machine is a semi-automatic looper. We put the fabric, press the pedal – and it makes a strong loop of threads itself. All we have to do is cut it in the middle so that we can fasten the button,” explains Elena Gritskevich.

    Before assembly, the elements of the suit are necessarily subjected to heat treatment: they are ironed so that the material shrinks. This helps the finished product retain its shape and avoid deformation in the future. Irons in the sewing shop are heavy and do not have the functions that modern housewives are accustomed to.

    “When creating historical costumes, it is important to preserve the sewing traditions that existed in past centuries. Hidden stitching, sloping shoulders, bends – such details contain historical truth. It helps create a picture on the screen that is close to the original. This way, an attentive viewer will be able to believe in what is happening,” adds the mos.ru interlocutor.

    To create an accurate historical costume, the masters of the sewing workshop carefully study the chosen era. To do this, they store old books and magazines. On their pages are black and white images of a variety of outfits. If the information is insufficient, the specialists go to the capital’s museums. And you can also find inspiration in the costume and props complex itself. In the rooms adjacent to the sewing workshop, hundreds of costumes are stored – from fur coats and frock coats to lace dresses.

    Stirlitz’s cloak and Yagupop’s mantle: what costumes can be seen on excursions at the Maxim Gorky Film StudioCaftans, top hats, polyphones and a Soviet TV: exploring the costume and props complex of the Gorky Film Studio

    Costumes – Legends of Cinema

    The Gorky Film Studio also has a permanent exhibition. Costumes from legendary films, including those by the famous director Alexander Rou, are displayed on podiums under the light of lamps.

    “In the last century, movie costumes were made from brocade, velvet, cloth, satin and other fabrics. Faux fur was used, and in rare cases, real fur. For example, Marfusha’s costume from Alexander Rowe’s film “Morozko” is trimmed with real fox tails. This decision was made not for beauty, but to keep warm – the filming took place in the winter in the Murmansk region,” says Maria Churkina, a tour guide at the Gorky Film Studio.

    She points to a turquoise caftan with large wooden buttons. Inna Churikova played the role of the main character’s stepsister in the cult fairy tale. Here you can also see the clothes of other characters in the film – Ivan’s red caftan and Nastenka’s blue fur coat.

    “They also used materials at hand to create costumes for the films. For example, the edge of the costume of Kartaus, the main antagonist from Gennady Vasiliev’s fairy tale “Finist the Bright Falcon” from 1975, is decorated with fangs. They look real, but they are fake. The fangs are made of plastic and covered with white paint,” says the mos.ru interlocutor.

    Next to the costume of the villain Kartaus, another unusual outfit from the same fairy tale is presented – a watchman’s chainmail with round metal decorations on the sleeves and chest. They are made from tin cans. If you turn the leftmost circle over, you can see the inscription “Atlantic mackerel” on its inner part.

    In glass stands you can see real legends of cinematography – outfits that are more than a hundred years old. For example, the brown dress of Madame de Renal from Sergei Gerasimov’s film “Red and Black” (1976) is noteworthy. The jacquard silk collar that adorns it was created around 1900.

    Another old outfit is the ceremonial uniform of a chamberlain from the late 19th – early 20th century. It can be recognized by its large gold embroidery and buttons depicting the double-headed eagle of the Russian Empire. The costume was purchased by the Gorky Film Studio from the owner of an antique collection in 1954 for the filming of the movie “Anna on the Neck” by director Isidor Annensky and was intended for the famous actor Alexander Vertinsky – in the film he played the role of the prince.

    You can learn about the history of the costume at thematic excursion on the film studio. Participants will also be told about the genres of cinematography and the technology used to shoot Soviet films. The history of costume will also be discussed during the excursion and master class “The Kingdom of Fairytale Costumes”.

    Costumes of any era and pavilions with augmented reality: how the Maxim Gorky Film Studio is developing todayKnights, Peter I and the Pugachev Rebellion. Famous Works by Costume Designer Natalia PolyakhTo be a director means to be a tightrope walker: the artistic director of Lenkom on the world of theatrical art

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

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

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    MIL OSI Russia News –

  • MIL-OSI Russia: Ice Arena and Swimming Pool: A Unique Large Sports Complex Built in Yuzhnoye Butovo

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    A large sports complex “Maximum” was built in Yuzhnoye Butovo. It is located at the address: Ostafyevskaya Street, Building 21. This was reported by the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “The two-story sports complex “Maximum” with a total area of 8.75 thousand square meters was built at the expense of the city budget. This is the first district facility with an ice rink and a swimming pool, which was built under the “Sport of Moscow” program in the South-West Administrative District. The arena was equipped with an energy-absorbing hockey board that meets the requirements of the International Ice Hockey Federation. The room for the ice resurfacing machine was equipped with fire gates, a bunker for collecting ice chips and a water treatment system. The sports complex was designed using BIM technologies, and the stages of the project implementation were carried out using modern digital systems,” said Vladimir Efimov.

    The first floor of the sports complex houses an ice arena for ice hockey training, district competitions without spectators, and mass skating. There is also an inventory room where spare board glass, removable covers, and protective nets are stored. Four team locker rooms for 25 people with shower blocks are equipped for athletes. In addition, the complex houses medical, technical, and administrative premises.

    “The sports complex houses a general fitness room, a large pool for recreational swimming, and a pool for teaching children to swim. The pool area includes a double-height space, creating a feeling of spaciousness. The ceiling height here is 13.6 meters. This is one of the first city facilities where a drowning warning system was installed. The modern sports complex is also adapted for use by people with limited mobility,” said the head of the capital’s Department of Civil Construction.

    Alexey Alexandrov.

    The building’s facades are done in harmonious beige tones and decorated with metal perforated cassettes. A park was landscaped on the adjacent territory, and parking for bicycles and cars was equipped. 11 parking spaces are intended for people with limited mobility. The sports complex is located next to residential areas, so it will be popular with fans of an active lifestyle.

    On the instructions of Sergei Sobyanin, the construction of sports infrastructure facilities in the city is under special control. Chairman of the capital’s State Construction Supervision Committee Anton Slobodchikov emphasized that during construction, the department’s inspectors checked the quality of the work performed and the materials used. Based on the results of the final inspection, the committee issued a conclusion on the compliance of the facility with the design documentation, and then the developer received permission to put it into operation.

    Previously a sports complex “Maximum” opened by Sergei Sobyanin.

    The construction of social facilities in Moscow corresponds to the goals and initiatives of the national project “Infrastructure for life”.

    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 Russia: Reconstruction of the water intake unit of the “Pakhra” boarding house has begun in Krasnopakhorsky district

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    Specialists from the municipal services complex have begun reconstruction of the water intake unit of the “Pakhra” boarding house in the capital’s Troitsky administrative district. This was reported by the Deputy Mayor of Moscow for Housing and Public Utilities and Improvement Petr Biryukov.

    “After the annexation of new territories to the capital, a comprehensive inventory and inspection of water treatment and sanitation systems was carried out. As a result, a number of problem areas were identified, after which a decision was made to reconstruct the facilities. They began updating the water intake unit “Pansionat Pakhra”, located in the Krasnopakhorsky district of TiNAO,” said Petr Biryukov.

    This unit supplies water to residents of the Pakhra Rest House settlement and nearby territories. Its productivity after reconstruction will increase almost threefold and will amount to 1.5 thousand cubic meters per day.

    The specialists will replace the outdated technological and energy equipment, equip four new wells, renovate the existing reservoirs and build one new one. In addition, they will install a water treatment station, where the water will undergo high-quality purification. The reconstruction of the facility will be carried out using domestically produced equipment and developments.

    More than 175 kilometers of water and sewer networks have been updated and laid in Moscow this year

    Water intake units located in the territory of TiNAO are connected to the Moscow water supply. The volume of water supplied to these districts from other capital water treatment stations has increased more than fivefold since 2012.

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

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Almost 1,200 standard-type houses will undergo major repairs in the capital

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    In 2025, almost 1,200 houses built according to standard series will undergo major repairs in the capital. The progress and features of these works were reported by the Moscow City Economy Complex.

    Crowning cornice and interfloor belt made of brick

    One of the buildings undergoing renovation is located at 5th Voykovsky Proezd, Building 10. The five-story building was erected in 1959 according to a standard series project. It has a simple plan. The entrance vestibules are highlighted with rustication. Along the perimeter there is a multi-profile crowning cornice and an interfloor belt made of brick. The building’s façade and basement will be renovated, and the utility systems will be replaced. Specialists from the Capital Repair Fund (CRF) have developed a project that takes into account all the features of the building.

    The facade renovation began with washing and cleaning open surfaces from dust and dirt. Then the builders will fill the weathered joints with a special compound and replace individual brick segments. Wet areas will be treated with antiseptic solutions. After a set of preparatory works, specialists will begin hydrophobization of the brickwork. This will help prevent the aggressive impact of precipitation on the walls of the building. At the last stage, the entrances and balconies will be repaired, and new drainpipes will be hung.

    In addition, the basement areas of the building will be tidied up and the drainage, central heating, hot and cold water supply systems will be replaced.

    L-shape and decorative tiles

    Work is also underway in the building at 97 Altufevskoe Shosse. It was built in 1979 according to a standard series project. The house has an L-shaped plan and consists of two volumes.

    The specialists will put the facade, roof, basement in order, and also replace a number of internal engineering systems. Particular attention will be paid to the renovation of the building walls, which were finished with decorative tiles at the factory. In almost half a century, they have lost their color, and in some places they have fallen off. To restore facades of this type, the Moscow FKR has developed a special technology using polymer-cement mixtures on reinforcing meshes. The composition can be applied directly to the old tiles.

    For the convenience of residents, the work was divided into stages. First, specialists will wash open surfaces, tap and remove peeling tiles. Then they will apply a special plaster-adhesive and at the same time reinforcing composition, which contains a fiberglass or basalt fiber mesh. After the base layer, it will be time to apply decorative plaster, a special vapor-permeable paint coating, and seal the interpanel seams. The facade will be painted white and yellow.

    In addition, the entrance groups will be put in order and the basement covering will be renewed. New modern double-glazed windows will be installed in the entrances. The roof decking will be replaced, the screed will be renewed, the slope will be restored and soft roofing will be laid. The basement of the building will also be put in order and the utility lines will be replaced.

    Simple shapes, loggia niches and color accents

    In 2025, a major overhaul of a residential building located at 5 Kolomenskaya Street, Building 2 is underway. This is a sixteen-story panel building, erected according to a standard series in 1983. Its main façade is accentuated by protruding vestibules of entrance groups. The loggia niches are highlighted in color.

    The facade is planned to be updated here. The work will begin with washing open surfaces and clearing interpanel seams from old filling. At the next stage, wet areas will be treated with antiseptic solutions. Then specialists will start laying insulation in the interpanel seams. After that, a new paint layer will be applied to the walls and the interpanel seams will be sealed with a two-component composition. The facade will be painted white and blue.

    At the final stage of the major renovation of the facade, specialists will replace the balcony screens, level the balcony slabs and lay new flooring, as well as repair the basement of the building and make a new asphalt concrete blind area.

    The Moscow City Services Complex noted that the regional housing stock capital repairs program being implemented in the capital is in line with the goals and objectives of the national project “Infrastructure for life”.

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

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

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    MIL OSI Russia News –

  • MIL-OSI: Press Release: GAM Strengthens European Presence with Appointment of Karim Carmoun to Lead France, Benelux and Monaco

    Source: GlobeNewswire (MIL-OSI)

    Zurich / Paris, 22 July 2025

    PRESS RELEASE

    GAM Strengthens European Presence with Appointment of Karim Carmoun to Lead France, Benelux and Monaco

    GAM Investments (GAM) has appointed Karim Carmoun as Managing Director to lead its activities across France, Benelux and Monaco. Based in Paris, Karim will report directly to GAM’s incoming Group Chief Distribution Officer, Tim Rainsford, who will re-join the firm on 1 October. Tim returns to GAM after holding senior roles at Generali Investments Partners as CEO, and most recently as Chief Product and Distribution Officer at Generali Asset Management.

    Karim’s appointment marks a key moment in GAM’s growth strategy in Europe, supported by NJJ Holding SA, the private investment group of French entrepreneur Xavier Niel and GAM’s majority shareholder.   

    Under new leadership, GAM is sharpening its focus on its Specialist Active, Alternatives and Wealth Management capabilities, giving clients access to top-tier investment talent and differentiated strategies. Combining in-house expertise with high-quality partnerships, GAM’s model connects professional investors to distinctive sources of return, backed by a global distribution platform and a renewed commitment to local client service. 

    Karim brings over 20 years of experience in asset management and a deep understanding of the French and Benelux markets. He spent the past decade at Robeco, where he served as CEO of Robeco France, following senior roles at Fidelity, Crédit Agricole, and BNP Paribas. He is widely recognised for his client-centric approach and ability to navigate evolving market conditions. 

    “I am proud to join GAM at this pivotal moment in its growth strategy,” said Karim Carmoun. “With the strong support of NJJ, we are focused on re-establishing GAM’s presence in France, Benelux and Monaco. Investors increasingly seek access to specialist strategies, alternative solutions, and the highest-quality investment talent which are all areas where GAM has a distinctive proposition. I look forward to building this exciting business and working closely with professional clients across the region to help them with their investment needs.”   

    “France, Benelux and Monaco are strategically important for GAM, and Karim brings the experience, credibility and insight to help us build lasting relationships in the region,” said Rossen Djounov, GAM’s Global Head of Client Solutions. “His appointment reflects our belief in local expertise supported by global resources.” 

    GAM is a specialist asset manager focused on Specialist Active, Alternatives and Wealth Management, including high-conviction equity, multi-asset and fixed income strategies. Its capabilities span hedge funds, alternative credit, insurance-linked securities (ILS) and private markets, delivered through in-house expertise and high-quality partnerships with some of the world’s most respected investment teams. 

    Through this model, GAM connects professional investors to differentiated sources of return and specialist insights, offering a platform that is both future-ready and aligned with evolving portfolio needs. 

    To connect with Karim Carmoun regarding GAM’s plans in the region, please contact: 

    Karim Carmoun
    Managing Director
    Head of France, Benelux and Monaco
    Karim.Carmoun@gam.com

    Media Relations:
    Colin Bennett
    T +44 (0) 20 73 938 544        
    colin.bennett@gam.com
    Visit us: www.gam.com
    Follow us: X and LinkedIn  

    About GAM
    GAM Investments is a highly scalable global investment platform with strong global distribution capabilities focusing on three core areas, Specialist Active Investing, Alternative Investing and Wealth Management, that is listed in Switzerland. It delivers distinctive and differentiated investment solutions across its Investment and Wealth Management businesses. Its purpose is to protect and enhance clients’ financial future. It attracts and empowers brightest minds to provide investment leadership, innovation and a positive impact on society and the environment. Total assets under management were CHF 16.3 billion as of 31 December 2024. GAM Investments has global distribution with offices in 14 countries and is geographically diverse with clients in almost every continent. Headquartered in Zurich, GAM Investments was founded in 1983, and its registered office is at Hardstrasse 201 Zurich, 8005 Switzerland. For more information about GAM Investments, please visit www.gam.com.

    Other Important Information

    This release contains or may contain statements that constitute forward-looking statements. Words such as “anticipate”, “believe”, “expect”, “estimate”, “aim”, “project”, “forecast”, “risk”, “likely”, “intend”, “outlook”, “should”, “could”, “would”, “may”, “might”, “will”, “continue”, “plan”, “probability”, “indicative”, “seek”, “target”, “plan” and other similar expressions are intended to or may identify forward-looking statements.

    Any such statements in this release speak only as of the date hereof and are based on assumptions and contingencies subject to change without notice, as are statements about market and industry trends, projections, guidance, and estimates. Any forward-looking statements in this release are not indications, guarantees, assurances or predictions of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the person making such statements, its affiliates and its and their directors, officers, employees, agents and advisors and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct and may cause actual results to differ materially from those expressed or implied in any such statements. You are strongly cautioned not to place undue reliance on forward-looking statements and no person accepts or assumes any liability in connection therewith.

    This release is not a financial product or investment advice, a recommendation to acquire, exchange or dispose of securities or accounting, legal or tax advice. It has been prepared without taking into account the objectives, legal, financial or tax situation and needs of individuals. Before making an investment decision, individuals should consider the appropriateness of the information having regard to their own objectives, legal, financial and tax situation and needs and seek legal, tax and other advice as appropriate for their individual needs and jurisdiction.

    Attachments

    The MIL Network –

  • MIL-OSI Europe: July 2025 euro area bank lending survey

    Source: European Central Bank

    22 July 2025

    • Credit standards for firm loans remained broadly unchanged
    • Credit standards tightened slightly for housing loans and more markedly for consumer credit
    • Housing loan demand continued to increase strongly, while demand for firm loans remained weak

    According to the July 2025 bank lending survey (BLS), euro area banks reported broadly unchanged credit standards – banks’ internal guidelines or loan approval criteria – for loans or credit lines to enterprises in the second quarter of 2025 (net percentage of banks of -1%; Chart 1). Banks also reported a slight net tightening of credit standards for loans to households for house purchase (net percentage of 2%) and a more pronounced net tightening for consumer credit and other lending to households (net percentage of 11%). For credit standards on loans to firms, the net percentage was smaller than banks had expected in the previous survey (a net tightening of 5%) and follows the small net tightening in credit standards seen in the first quarter (3%). Perceived risks related to the economic outlook continued to contribute to a tightening of credit standards, whereas competition had an easing impact. For the most part, banks reported no specific additional tightening impact on their credit standards related to geopolitical uncertainty and trade tensions, although they intensified their monitoring of the most exposed sectors and firms. For loans to households for house purchase, the net tightening followed the easing of credit standards seen in the first quarter (-7%) but was lower than banks anticipated (7%). For both housing loans and consumer credit, changes in risk perceptions and the risk tolerance of banks were the main drivers of the net tightening of credit standards. For the third quarter of 2025, banks expect credit standards to remain unchanged for firms (0%), ease slightly for housing loans (-3%) and tighten further for consumer credit (4%).

    Banks’ overall terms and conditions – the actual terms and conditions agreed in loan contracts – eased for loans to firms, remained unchanged for housing loans and tightened for consumer credit.

    In the second quarter of 2025, euro area banks reported a slight net increase in demand for loans or credit lines to firms (Chart 2), with demand remaining weak overall. This followed a small net decrease in loan demand in the previous quarter (-3%) and was broadly in line with banks’ expectations in that quarter (4%). Loan demand was supported by declining interest rates, but dampened by global uncertainty and trade tensions, while the impact of fixed investment and inventories and working capital was neutral. Demand for housing loans continued to increase substantially in net terms. Declining interest rates, improved housing market prospects and, to a lesser extent, consumer confidence, were the main drivers of the continued increase in housing loan demand. Demand for consumer credit and other lending to households increased only slightly, with declining interest rates and other factors offsetting negative contributions from lower consumer confidence and spending on durable goods. In the third quarter of 2025, banks expect a net increase in loan demand from firms (net percentage of 7%), a further substantial net increase for housing loans (net percentage of 21%) and broadly unchanged demand for consumer credit (1%).

    Euro area banks’ access to retail and wholesale funding improved slightly in the second quarter of 2025, driven by short-term retail funding, money markets and debt securities, and remained broadly unchanged for securitisations. Over the next three months, banks expect access to these funding sources to remain broadly unchanged.

    Euro area banks reported that non-performing loan (NPL) ratios and other credit quality indicators had a net tightening impact on their credit standards across all loan categories, as well as a net tightening impact on terms and conditions for loans to firms and consumer credit. Banks expect these trends to continue in the third quarter for loans to firms and consumer credit, driven mostly by pressures related to supervisory or regulatory requirements.

    Changes in credit standards and loan demand were heterogeneous across the main economic sectors in the first half of 2025. Credit standards tightened in commercial real estate (CRE), manufacturing, wholesale and retail trade and, to a lesser extent, in construction, while they eased slightly across most services (excluding financial services and real estate) and in residential real estate (RRE). Banks reported a net decrease in loan demand for construction, manufacturing, CRE and wholesale and retail trade, and net increases in RRE and in the transport, accommodation and food services sectors. For the second half of 2025, in most of the main economic sectors, banks expect either broadly unchanged or easier credit standards and overall small changes in loan demand. The exception is RRE, for which banks expect a further moderate increase.

    Banks continue to take firms’ climate performance into consideration in their lending policies, reporting an easing impact on credit standards and terms and conditions for green firms and firms in transition and a tightening impact for high-emitting firms over the past twelve months. Both physical risk and firms’ transition risk had a moderate net tightening impact on banks’ lending policies, while climate-related fiscal support continued to have an easing impact. Banks also reported a net increase in demand for loans to green firms and firms in transition owing to climate change, while uncertainty over future climate regulation was perceived as an obstacle. Banks expect a similar impact overall over the next twelve months.

    Based on a new question on the impact of climate change on housing loans, banks reported an easing impact on credit standards for buildings with high energy performance and a tightening impact for buildings with low energy performance over the past twelve months. They expect a broadly corresponding impact over the next twelve months. As the easing impact for new buildings mostly offset the tightening impact for old buildings, the net impact of energy performance was low overall. The physical risk of real estate was, however, an important driver of further net tightening in lending conditions overall, and an even higher net percentage of banks reported that it will be a driver over the next year. Banks also reported a positive impact on loan demand for buildings with high and medium energy performance but a negative impact for those with low energy performance. Investment in energy performance was the key factor for climate-related loan demand, supported by preferential lending rates for increasing sustainability, whereas uncertainty over future climate regulation was reported as a dampening factor for loan demand.

    Banks indicated that changes in excess liquidity held with the Eurosystem in the first half of 2025 had a neutral impact on bank lending conditions. They expect to see similar effects in the second half of 2025.

    The quarterly BLS was developed by the Eurosystem to improve its understanding of bank lending behaviour in the euro area. The results reported in the July 2025 survey relate to changes observed in the second quarter of 2025 and changes expected in the third quarter of 2025, unless otherwise indicated. The July 2025 survey round was conducted between 13 June and 1 July 2025. A total of 155 banks were surveyed in this round, with a response rate of 100%.

    Chart 1

    Changes in credit standards for loans or credit lines to enterprises, and contributing factors

    (net percentages of banks reporting a tightening of credit standards, and contributing factors)

    Source: ECB (BLS).

    Notes: Net percentages are defined as the difference between the sum of the percentages of banks responding “tightened considerably” and “tightened somewhat” and the sum of the percentages of banks responding “eased somewhat” and “eased considerably”. The net percentages for “Other factors” refer to an average of the further factors which were mentioned by banks as having contributed to changes in credit standards. Data are for the euro area and for the largest four euro area countries.

    Chart 2

    Changes in demand for loans or credit lines to enterprises, and contributing factors

    (net percentages of banks reporting an increase in demand, and contributing factors)

    Source: ECB (BLS).

    Notes: Net percentages for the questions on demand for loans are defined as the difference between the sum of the percentages of banks responding “increased considerably” and “increased somewhat” and the sum of the percentages of banks responding “decreased somewhat” and “decreased considerably”. The net percentages for “Other factors” refer to an average of the further factors which were mentioned by banks as having contributed to changes in loan demand. Data are for the euro area and for the largest four euro area countries.

    For media queries, please contact William Lelieveldt, tel.: +49 170 227 9090.

    Notes

    MIL OSI Europe News –

  • MIL-OSI Russia: 2 dead, 10 missing after heavy rains in eastern China

    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

    JINAN, July 22 (Xinhua) — Two people were killed and 10 were missing after a sudden torrent caused by heavy rainfall in east China’s Shandong Province early Tuesday, local authorities said.

    Torrential rains hit Laiwu District of Jinan City, capital of Shandong Province, and lasted for five hours from 00:00 to 05:00 Beijing time. During this period, a maximum of 364 mm of rain fell, the district government said in a statement.

    Rains caused a sudden mountain torrent to collapse near two villages in Dawangzhuang Township, washing away and damaging 19 houses, killing two people and leaving 10 others missing.

    Local authorities are doing everything possible to find the missing persons. -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.

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  • MIL-OSI Australia: Police seek public assistance for investigation into online prescriptions

    Source: New South Wales Community and Justice

    Police seek public assistance for investigation into online prescriptions

    Tuesday, 22 July 2025 – 3:00 pm.

    Investigators from Tasmania Police are appealing for public assistance as part of an ongoing investigation into alleged fraudulent online prescriptions.
    Detective Inspector Michelle Elmer said police are seeking to speak with anyone who has sought or obtained prescriptions through the website athleteswarehouse.com.au.
    “We believe members of the community may have interacted with this website in good faith,” she said.
    “Now is the time to come forward and assist police with critical information that may support the investigation.”
    “Those people who have used the website, or who may have knowledge of its operations, are urged to contact us.”
    Anyone with information should call Tasmania Police’s Western Criminal Investigation Branch on 131 444 and quote OR774910.
    Information can also be provided anonymously to Crime Stoppers on 1800 333 000 or online at crimestopperstas.com.au

    MIL OSI News –

  • MIL-OSI Russia: Over the course of six months, following the results of auctions, the city sold and leased more than 7.5 hectares of land for the construction of real estate

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    In the first half of 2025, investors leased and purchased land for the construction of various facilities in six administrative districts of the capital. This was reported by the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “Over the first six months of 2025, based on the results of auctions, more than 40 plots with a total area of over 7.5 hectares were leased and purchased from the city. Almost 84.2 thousand square meters of real estate are planned to be built on these sites, including industrial, public and business facilities and private residential buildings. The land is located in six administrative districts, the majority of which is in TiNAO: there are 36 plots there. Two objects were purchased in the southwest and west, one in the east and southeast of the capital,” Vladimir Efimov noted.

    For the construction of non-residential facilities, the city offers investors two formats: a land lease agreement for construction or an agreement on the implementation of a large-scale investment project (MaIP).

    “Based on the results of the first half of the year, entrepreneurs signed three agreements with the city on the implementation of the MAIP. According to one of them, a modern retail and office building will appear on the territory of the administrative and business center “Kommunarka”, the second provides for the construction of two industrial facilities with an area of 12.5 thousand square meters in the Nekrasovka and Vnukovo districts. Another 36 plots, mainly in the Troitsky administrative district, were sold to individuals for individual housing construction. Commercial buildings will be erected under three land lease agreements in the southwest of the capital and in the Tatar Administrative District,” she noted.

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

    You can find out information about land plots put up for auction, rules for holding auctions and study the documentation in the section “Moscow Trades” on the capital’s investment portal. All contracts are concluded electronically in the buyer’s personal account.

    According to the head of the Moscow City Department for Competition Policy Kirill Purtov, the capital offers a convenient format for holding auctions and guarantees legal purity and transparency of the transaction, which contributes to the popularity of city auctions among entrepreneurs and city residents. In the first six months of this year, at auctions for the sale of land plots for the construction of both commercial and residential properties, an average of 11 participants bid for one lot.

    The development of electronic services for entrepreneurs is being implemented within the framework of the national project “Data Economy”.

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

     

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

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  • MIL-OSI Russia: Gas supply systems in 467 Moscow homes to be updated under capital repairs program

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    Specialists from the capital’s municipal services complex will update in-house gas supply systems in 467 apartment buildings. The work will be carried out within the framework of capital repair programsThis was reported by the Deputy Mayor of Moscow for Housing and Public Utilities and Improvement Petr Biryukov.

    “The capital’s capital repair program is one of the most significant housing modernization projects not only in Russia, but also in the world. We are carrying out work to update not only the exterior of the building: the facade, roof and entrance group, but also the engineering systems. During the program’s implementation, we have completed capital repairs of in-house gas supply systems in 2,343 apartment buildings. This year, work is planned for another 467, and it has already been completed at 301 facilities,” noted Pyotr Biryukov.

    Timely repair of equipment is important for its safe operation and organization of uninterrupted gas supply. In their work, specialists use modern technical solutions. For example, they use ball valves with three degrees of protection against accidental opening. They limit the flow of gas in case of equipment failure and temperature exposure. In addition, flexible gas piping made of stainless steel with PVC coating and a dielectric insert are installed in houses. This is done to protect against external influences and to eliminate an emergency situation when stray currents appear.

    Gas risers inside an apartment building are common property, so apartment owners must promptly provide specialists with access to the work sites.

    According to current regulations, the service life of an in-house gas pipeline is 30 years. After this time, the equipment wears out and requires replacement.

    The regional program for capital repairs of housing stock being implemented in the capital corresponds to the goals and objectives of the national project “Infrastructure for life”.

    What to look for when renting an apartment with gas equipment

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

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

    .

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

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

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

    Moscow State Wine Warehouse

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

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

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

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

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

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

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

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

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

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

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

    The complex will house two enterprises producing modern construction products.

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

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

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

    Anatoly Garbuzov.

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

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

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

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

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

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

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

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

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

     

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: The city has put eight premises in new buildings in the Fili-Davydkovo district up for auction

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    Entrepreneurs are offered to purchase eight commercial premises with an area of 64.3 to 135.7 square meters in the west of Moscow. All of them are located on the ground floors and have a flexible purpose. This was reported by the head of the Moscow City Department for Competition Policy Kirill Purtov.

    “Commercial real estate properties in new buildings are of interest to investors – in the first half of 2025, 714 business premises with a total area of 132.2 thousand square meters were sold at open auctions. Currently,

    Moscow investment portal eight free-use lots in residential complexes in the Fili-Davydkovo area are presented. The premises are located on the ground floors and are suitable for opening a store, cafe, order pick-up point or other local infrastructure facilities. Open auctions will be held on August 12,” said Kirill Purtov.

    The objects are located at the following addresses: Oleko Dundicha Street, Building 29 and Building 31, Block 1. This is next to the Filevsky Park metro station. Each premises has a separate entrance from the street, electricity, water supply and sewerage.

    The bidding campaigns will end on August 1. Both individuals and legal entities can participate in the bidding. This will require registration on the Roseltorg online platform and an enhanced qualified electronic signature.

    Moscow is a city that develops entrepreneurship. The capital puts up for auction various real estate properties, and the showcase of the lots on offer is Moscow investment portal. In the section “Moscow Trades” Photos of the lot, documentation, conditions and form of implementation are published. Here you can also take a 3D tour of the objects. Participation is completely remote: the auction is held online.

    Development of electronic services for business corresponds to the objectives of the national project “Data Economy and Digital Transformation of the State” and the regional project of the city of Moscow “Digital Public Administration”.

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

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Live training: SPbPU students completed practical training at Setl Group construction sites

    Translation. Region: Russian Federal

    Source: Peter the Great St. Petersburg Polytechnic University –

    An important disclaimer is at the bottom of this article.

    Second-year students of the Institute of Civil Engineering of SPbPU took part in a series of excursions to the construction sites of Setl Group. During their introductory practice, the students also visited the company’s office.

    The students of the Polytechnic University were accompanied by Svetlana Belyaeva, senior lecturer of the Civil Engineering Institute, and Alexandra Zatsepina, assistant of the ISI. Setl Group was represented by Daria Fioletova, manager of personnel training and development.

    In the residential complex “Bionika Zapovednaya” the tour was conducted by the leading construction engineer Ivan Golubev and the head of the construction project Vladimir Farykin. In the residential complex Univer City the children were met by the construction engineer Ksenia Tolkacheva and the leading construction engineer Alexey Borisenko. The head of the construction project Ruslan Ermoolenko, leading construction engineers Kirill Tropin and Artem Akimov told about the residential complex “Dvortsovy Fasad”.

    At the company’s office, construction project manager Dmitry Shmodin gave a lecture on the specifics of management, site organization, interaction between engineers at all stages of work, and the use of modern technologies.

    During excursions to residential complexes and the office, ISI students received detailed safety instructions, saw presentations of architectural concepts of the facilities, learned about the company’s areas of activity, job responsibilities of engineers and strict requirements for the quality of work. In addition, the students studied the sequence of construction processes – from monolithic work to finishing and landscaping, got acquainted with engineering systems, visited the technical underground and underground parking. They discussed modern digital solutions for construction management with experts, including the ICONA platform, and also asked questions to engineers.

    Based on the results of the internship, the students compiled reports with photos and videos. This will be useful to them in the next semester when designing a multi-apartment residential building. The guys were interested in the possibility of completing an internship at the company and further employment.

    “I received additional motivation in my desire to become a professional who not only knows how to design, but is also able to control and understand the entire construction process on site,” shared Mikhail Abramov.

    “Such excursions help students combine knowledge of different disciplines in a single real picture of construction. This is how they learn to think, reason, ask questions and see more,” noted ISI teacher Alexandra Zatsepina.

    “It’s nice to see the students’ sincere desire to learn a lot. This gives rise to the desire to invest more: to hold useful events to help the new generation grow professionally. We will be glad to see interested students in our practice,” said Setl Group’s HR Training and Development Manager Daria Fioletova.

    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 China: Chinese divers fend off host’s charge at FISU Games

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

    While Chinese divers kept their dominance in the diving event, host Germany jumps into the limelight with its strong performance at the Rhine-Ruhr 2025 FISU World University Games.

    Wang Weiying brought China its sixth diving gold on Monday with a wire-to-wire victory on 344.25 points in the women’s 3m springboard. Her teammate Qu Zhixin completed a one-two finish for China with silver at 318.55, while Germany’s Lena Hentschel and Jette Muller thrilled the home crowd by taking bronze and fourth place, respectively.

    A golden Monday capped a near-perfect week for Wang, who has two golds and one silver in Berlin. The lone blemish came in the 10m platform competition where she finished runner-up to fellow Chinese Lu Wei.

    Qu Zhixin of China competes in the women’s 3m springboard. [photo:xinhua]

    “The environment is amazing. I am very happy to be able to compete in so many different events,” Wang said.

    After five competition days, China has collected six gold and six silver medals in diving, while host Germany has three golds, two silvers and three bronzes under its belt – compared to just two silvers at the previous Games held in Chengdu two years ago.

    The 11-strong German roster includes five Olympians, with Hentschel arriving in Berlin as a Tokyo 2020 bronze medalist.

    “The German divers are looking to use home-crowd advantage to better their fourth place on the Chengdu Games medal table in 2023, when they claimed two silver medals,” the FISU’s official preview noted.

    “Considering we are competing away from home and the hosts place great emphasis on diving, the results so far are already very good,” said Fu Yuchao, leader of the Chinese diving team. “There are still some regrets, but overall the team has performed to expectation.”

    The diving competition of the Rhine-Ruhr Universiade will conclude on Wednesday with four gold medals up for grabs.

    MIL OSI China News –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

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

    Income statement, EUR Th Q2 2025 Q1 2025 Q2 2024
    adjusted
    Net interest income 57,643 62,010 70,424
    Net fee and commission income 15,579 14,071 14,352
    Net financial income -380 2,747 -37
    Net insurance income 1,065 597 421
    Other operating income and expense 0 -4 638
    Total net income 73,907 79,421 85,798
    Staff costs -22,901 -22,655 -20,420
    Office expenses -679 -659 -874
    IT costs -4,017 -3,576 -3,267
    Marketing expenses -1,526 -1,258 -796
    Other operating expenses -11,387 -9,394 -10,741
    Total expenses -40,510 –37,542 –36,098
    Operating profit 33,397 41,879 49,700
    Profit before allowances 33,397 41,879 49,700
    Allowances 4,152 -5,667 -5,043
    Income tax expenses -6,784 -7,052 -6,071
    Net profit 30,765 29,160 38,586
    Minority holding 716 592 300
    Shareholders’ share of profit of parent    company 30,049 28,568 38,286
           
    Net earnings per share, EUR 0.09 0.09 0.12
    Diluted earnings per share, EUR 0.09 0.09 0.12
           
           
           
     Balance sheet, EUR Th June 2025 March 2025 June 2024
    Cash and due from banks 3,867,487 3,279,271 3,217,448
    Financial assets 454,979 442,463 157,131
    Loans to clients 5,038,379 4,774,970 3,925,877
    Loan impairment reserve -39,734 -45,629 -35,333
    Receivables from clients 16,626 9,439 15,380
    Other assets 46,058 47,771 49,220
    Total assets 9,383,795 8,508,285 7,329,723
    Demand deposits 4,669,435 4,189,062 3,659,675
    Term deposits 2,694,906 2,415,430 2,124,254
    Loans received 1,037,347 936,215 735,281
    Due to clients and loans received 8,401,688 7,540,707 6,519,211
    Accruals and other liabilities 105,692 163,690 100,709
    Subordinated loans 161,155 126,247 107,521
    Total liabilities 8,668,535 7,830,644 6,727,441
    Owners’ equity 715,260 677,641 602,282
    incl. minority holding 7,850 7,134 7,694
    Total liabilities and owner’s equity 9,383,795 8,508,285 7,329,723
             
                 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Investor Relations

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

    Communications

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

    Attachments

    The MIL Network –

  • MIL-OSI United Kingdom: Still time to have say and help shape domestic abuse services

    Source: City of Wolverhampton

    The council wants to hear from local residents, people affected by domestic abuse, and professionals from across Wolverhampton to help shape priorities and intentions for the new services to ensure they are effective, accessible and respond to local need.  

    Domestic abuse specialist support services provide victims of domestic abuse with practical help, advice, and guidance. In Wolverhampton, support is available to women, men, and children who are either living in the community or in accommodation such as a refuge.

    The types of support that may be offered can include safe accommodation, support through the criminal justice system, financial, legal, or housing advice, counselling or therapy, and emotional and peer support.

    Councillor Obaida Ahmed, Cabinet Member for Health, Wellbeing and Community, said: “This is an important piece of work which will help to ensure that Wolverhampton continues to deliver high quality domestic abuse support services. 

    “By completing a short survey, you can help us develop services that respond to victims of domestic abuse sensitively and effectively and meet the needs of local residents.  

    “This is a public consultation, and we would welcome responses from as many people as possible, so please take a few moments to have your say.” 
     
    The consultation is available at The Future of Wolverhampton’s Specialist Domestic Abuse Services – Have Your Say until midnight next Sunday 3 August, 2025.

    MIL OSI United Kingdom –

  • MIL-Evening Report: COVID, flu, RSV: how these common viruses are tracking this winter – and how to protect yourself

    Source: The Conversation (Au and NZ) – By Adrian Esterman, Professor of Biostatistics and Epidemiology, University of South Australia

    nimis69/Getty Images

    Winter is here, and with it come higher rates of respiratory illnesses. If you’ve been struck down recently with a sore throat, runny nose and a cough, or perhaps even a fever, you’re not alone.

    Last week, non-urgent surgeries were paused in several Queensland hospitals due to a surge of influenza and COVID cases filling up hospital beds.

    Meanwhile, more than 200 aged care facilities around Australia are reportedly facing COVID outbreaks.

    So, just how bad are respiratory infections this year, and which viruses are causing the biggest problems?

    COVID

    Until May, COVID case numbers were about half last year’s level, but June’s 32,348 notifications are closing the gap (compared with 45,634 in June 2024). That said, we know far fewer people test now than they did earlier in the pandemic, so these numbers are likely to be an underestimate.

    According to the latest Australian Respiratory Surveillance Report, Australia now appears to be emerging from a winter wave of COVID cases driven largely by the NB.1.8.1 subvariant, known as “Nimbus”.

    Besides classic cold-like symptoms, this Omicron offshoot can reportedly cause particularly painful sore throats as well as gastrointestinal symptoms such as nausea and diarrhoea.

    While some people who catch COVID have no symptoms or just mild ones, for many people the virus can be serious. Older adults and those with chronic health issues remain at greatest risk of experiencing severe illness and dying from COVID.

    Some 138 aged care residents have died from COVID since the beginning of June.

    The COVID booster currently available is based on the JN.1 subvariant. Nimbus is a direct descendant of JN.1 – as is another subvariant in circulation, XFG or “Stratus” – which means the vaccine should remain effective against current variants.

    Free boosters are available to most people annually, while those aged 75 and older are advised to get one every six months.

    Vaccination, as well as early treatment with antivirals, lowers the risk of severe illness and long COVID. People aged 70 and older, as well as younger people with certain risk factors, are eligible for antivirals if they test positive.

    Influenza

    The 2025 flu season has been unusually severe. From January to May, total case numbers were 30% higher than last year, increasing pressure on health systems.

    More recent case numbers seem to be trending lower than 2024, however we don’t appear to have reached the peak yet.

    Flu symptoms are generally more severe than the common cold and may include high fever, chills, muscle aches, fatigue, sore throat and a runny or blocked nose.

    Most people recover in under a week, but the flu can be more severe (and even fatal) in groups including older people, young children and pregnant women.

    An annual vaccination is available for free to children aged 6 months to 4 years, pregnant women, those aged 65+, and other higher-risk groups.

    Queensland and Western Australia provide a free flu vaccine for all people aged 6 months and older, but in other states and territories, people not eligible for a free vaccine can pay (usually A$30 or less) to receive one.

    RSV

    The third significant respiratory virus, respiratory syncytial virus (RSV), only became a notifiable disease in 2021 (before this doctors didn’t need to record infections, meaning data is sparse).

    Last year saw Australia’s highest case numbers since RSV reporting began. By May, cases in 2025 were lower than 2024, but by June, they had caught up: 27,243 cases this June versus 26,596 in June 2024. However it looks as though we may have just passed the peak.

    RSV’s symptoms are usually mild and cold-like, but it can cause serious illness such as bronchiolitis and pneumonia. Infants, older people, and people with chronic health conditions are among those at highest risk. In young children, RSV is a leading cause of hospitalisation.

    A free vaccine is now available for pregnant women, protecting infants for up to six months. A monoclonal antibody (different to a vaccine but also given as an injection) is also available for at-risk children up to age two, especially if their mothers didn’t receive the RSV vaccine during pregnancy.

    For older adults, two RSV vaccines (Arexvy and Abrysvo) are available, with a single dose recommended for everyone aged 75+, those over 60 at higher risk due to medical conditions, and all Aboriginal and Torres Strait Islander people aged 60+.

    Unfortunately, these are not currently subsidised and cost about $300. Protection lasts at least three years.

    The common cold

    While viruses including COVID, RSV and influenza dominate headlines, we often overlook one of the most widespread – the common cold.

    The common cold can be caused by more than 200 different viruses – mainly rhinoviruses but also some coronaviruses, adenoviruses and enteroviruses.

    Typical symptoms include a runny or blocked nose, sore throat, coughing, sneezing, headache, tiredness and sometimes a mild fever.

    Children get about 6–8 colds per year while adults average 2–4, and symptoms usually resolve in a week. Most recover with rest, fluids, and possibly over-the-counter medications.

    Because so many different viruses cause the common cold, and because these constantly mutate, developing a vaccine has been extremely challenging. Researchers continue to explore solutions, but a universal cold vaccine remains elusive.

    How do I protect myself and others?

    The precautions we learned during the COVID pandemic remain valid. These are all airborne viruses which can be spread by coughing, sneezing and touching contaminated surfaces.

    Practise good hygiene, teach children proper cough etiquette, wear a high-quality mask if you’re at high risk, and stay home to rest if unwell.

    You can now buy rapid antigen tests (called panel tests) that test for influenza (A or B), COVID and RSV. So, if you’re unwell with a respiratory infection, consider testing yourself at home.

    While many winter lurgies can be trivial, this is not always the case. We can all do our bit to reduce the impact.

    Adrian Esterman receives funding from the Medical Research Future Fund.

    – ref. COVID, flu, RSV: how these common viruses are tracking this winter – and how to protect yourself – https://theconversation.com/covid-flu-rsv-how-these-common-viruses-are-tracking-this-winter-and-how-to-protect-yourself-261383

    MIL OSI Analysis – EveningReport.nz –

  • Parliament passes ‘Bills of Lading, 2025’ to modernize maritime law in India

    Source: Government of India

    Source: Government of India (4)

    In a landmark development for India’s maritime sector, Parliament on Monday passed the Bills of Lading, 2025, replacing the 169-year-old colonial-era Indian Bills of Lading Act, 1856. The Rajya Sabha cleared the bill on the first day of the Monsoon Session, following its earlier passage in the Lok Sabha in March 2025. The bill now awaits Presidential assent before becoming law.

    Tabled by Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, the bill marks a significant step in India’s efforts to overhaul outdated legal frameworks and align them with contemporary global standards. Once enacted, the legislation will simplify maritime shipping documentation in India, making it more transparent, efficient, and in tune with international trade practices.

    Speaking in the Rajya Sabha, Minister Sonowal emphasized that the reform is part of the government’s broader mission to build a “Viksit Bharat” by 2047, as envisioned by Prime Minister Narendra Modi. “This vision is not merely aspirational; it is a call to action, urging us to align our efforts and aspirations with the promise of a new and prosperous Bharat,” he said.

    The Bills of Lading, 2025 introduces modern, business-friendly terminology and streamlines the rights and obligations of carriers, shippers, and lawful holders. It aims to reduce ambiguity in shipping documentation, minimize litigation risks, and strengthen India’s position in global trade by adopting internationally recognized norms.

    The new legislation also features simplified legal language and restructures complex provisions. It includes an enabling clause empowering the Central Government to issue directives for effective implementation. A standard repeal and saving clause ensures that all past actions under the old Act remain valid, maintaining legal continuity.

    Minister Sonowal described the passage of the bill as a decisive move away from colonial legacies and toward a legal system that reflects India’s constitutional values and current economic aspirations. “As we reflect on the 76th year since the adoption of the Indian Constitution, it is the perfect moment to cast aside the remnants of colonial and pre-constitutional legacies that hinder our progress,” he said.

  • Parliament passes ‘Bills of Lading, 2025’ to modernize maritime law in India

    Source: Government of India

    Source: Government of India (4)

    In a landmark development for India’s maritime sector, Parliament on Monday passed the Bills of Lading, 2025, replacing the 169-year-old colonial-era Indian Bills of Lading Act, 1856. The Rajya Sabha cleared the bill on the first day of the Monsoon Session, following its earlier passage in the Lok Sabha in March 2025. The bill now awaits Presidential assent before becoming law.

    Tabled by Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, the bill marks a significant step in India’s efforts to overhaul outdated legal frameworks and align them with contemporary global standards. Once enacted, the legislation will simplify maritime shipping documentation in India, making it more transparent, efficient, and in tune with international trade practices.

    Speaking in the Rajya Sabha, Minister Sonowal emphasized that the reform is part of the government’s broader mission to build a “Viksit Bharat” by 2047, as envisioned by Prime Minister Narendra Modi. “This vision is not merely aspirational; it is a call to action, urging us to align our efforts and aspirations with the promise of a new and prosperous Bharat,” he said.

    The Bills of Lading, 2025 introduces modern, business-friendly terminology and streamlines the rights and obligations of carriers, shippers, and lawful holders. It aims to reduce ambiguity in shipping documentation, minimize litigation risks, and strengthen India’s position in global trade by adopting internationally recognized norms.

    The new legislation also features simplified legal language and restructures complex provisions. It includes an enabling clause empowering the Central Government to issue directives for effective implementation. A standard repeal and saving clause ensures that all past actions under the old Act remain valid, maintaining legal continuity.

    Minister Sonowal described the passage of the bill as a decisive move away from colonial legacies and toward a legal system that reflects India’s constitutional values and current economic aspirations. “As we reflect on the 76th year since the adoption of the Indian Constitution, it is the perfect moment to cast aside the remnants of colonial and pre-constitutional legacies that hinder our progress,” he said.

  • South Korea’s Lee orders all-out effort to find missing after floods

    Source: Government of India

    Source: Government of India (4)

    South Korea’s President Lee Jae Myung told public officials on Tuesday to “spare no effort” in the search for missing people and on damage recovery after days of torrential rains left a trail of destruction in various parts of the country.

    The wet weather has now subsided, though media reports said heavy rainfall was drenching parts of North Korea.

    Some 19 people have died and nine were still missing in South Korea as of Tuesday morning, while 2,549 people remained displaced, the Ministry of the Interior and Safety said.

    Damage to property was extensive with some 3,776 facilities, including homes, shops and factories needing to be cleared of water, debris and earth, it said.

    Noting the limitations of existing methods in coping with last week’s rain, Lee ordered the prime minister and all related ministries to establish a comprehensive response system for natural disasters by region and type.

    Lee also told a cabinet meeting to “strictly crack down on mindless public officials who enjoy dancing and drinking at.. locations where people are dying.”

    The president’s approval rating fell to 62.2% from 64.6% previously according to pollster Realmeter, in a survey conducted last week during the torrential rains.

    Lee, who took office in June, has promised to make the country safer and to prevent any repeat of the disasters in recent years that have often been blamed on the inadequate response by authorities.

    (Reuters)

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

    Source: United Kingdom – Executive Government & Departments

    Press release

    Sizewell C gets green light with final investment decision

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

    • Energy Secretary signs off on multi-billion-pound deal for Sizewell C, that will deliver clean power for the equivalent of six million homes and support 10,000 jobs at peak construction. 

    • Government secures deal that will see Sizewell deliver electricity system savings of £2 billion a year on average once operational. 

    • The government will become the largest shareholder, alongside private investors EDF, Centrica, La Caisse and Amber Infrastructure. 

    •  Project will be built for around 20 per cent less than virtual replica Hinkley Point C, as part of the government’s Plan for Change to kick-start economic growth and protect family finances.

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

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

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

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

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

    Energy Secretary Ed Miliband said:

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

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

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

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

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

    Chancellor of the Exchequer Rachel Reeves said:

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

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

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

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

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

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

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

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

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

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

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

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

    John Flint, National Wealth Fund CEO, said:

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

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

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

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

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

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

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

    Simone Rossi, CEO of EDF in the UK said:

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

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

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

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

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

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

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

    Ofgem CEO Jonathan Brearley said:

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

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

    Neil McDermott, Chief Executive of LCCC, said:

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

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

    Notes to editors:

    • Sizewell C has already signed £330 million in contracts with local companies and will boost supply chains across the UK with 70% of contracts predicted to go to 3,500 British suppliers – supporting new jobs in construction, welding, and hospitality.  

    • The government has published a subsidy scheme for the Final Investment Decision in Sizewell C. This scheme covers the government’s equity and debt investment in the project, as well as the value of consumer levies from the RAB delivery model – a Government Support Package to protect investors from high-impact low-probability risks, and other guarantees.  

    • The Sizewell C project is consolidated to the government’s balance sheet, meaning that all investment from the government and new investors is on the balance sheet.  

    • The total equity and debt finance made available exceeds the target construction cost of around £38 billion (2024 prices), this acts as a safeguard for taxpayers in case of overruns and is standard for a project of this size and complexity.  The project supply chain is strongly incentivised to keep costs down and investors will lose potential revenue if there are overruns, reducing risk for taxpayers. 

    • According to our Value for Money assessment SZC could reduce the cost of a low-carbon electricity system by around £2 billion per year on average, once operational.  

    • Urenco recently confirmed a 15-year deal with EDF to produce fuel for nuclear power stations. The multi-billion-euro contract, with significant value for the UK, will support Urenco UK’s workforce of more than 1,400 people and support the company’s important contribution to UK economic growth, which represented more than £256 million in 2023.  

    • French engineering company Assystem has also set out plans to double its nuclear workforce in the UK, creating 1,000 new engineering, digital and management jobs by 2030 across 10 UK sites, including in Sunderland, Blackburn, Derby, Bristol and London. 

    • The government is providing the National Wealth Fund with additional capital to facilitate this lending to Sizewell C, separate to the existing £27.8bn which will continue to be invested across the NWF’s priority sectors. For National Wealth Fund queries, please contact press@nationalwealthfund.org.uk

    Updates to this page

    Published 22 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Australia: Winter underquoting blitz targets Hume

    Source: Australian Capital Territory Policing

    Property auctions in the City of Hume were targeted by Consumer Affairs Victoria’s underquoting taskforce over the weekend.

    Taskforce inspectors visited Craigieburn and surrounds to monitor auctions for compliance with auction and sales rules, after tracking 70 sales campaigns in the lead up to the weekend. This follows a spike in underquoting complaints in the area, which is popular with first home buyers.

    Inspectors also took the opportunity to educate agents and buyers about underquoting laws.

    The taskforce uses a range of methods to monitor the property market. This includes tracking sales campaigns, inspecting estate agencies and attending auctions. This latest auction sweep follows an inspection blitz in the Doncaster area earlier in the year.

    Since it launched in September 2022, the taskforce has:

    • received more than 4,200 complaints through its dedicated webform
    • monitored over 2,500 sales campaigns
    • attended 275 auctions
    • issued 185 fines totalling over $2 million, and
    • issued 244 official warnings to agents caught breaching their obligations.

    It is also taking legal action against several agents for alleged breaches of the law.

    More than one third of complaints are submitted by real estate agents, showing that agents doing the right thing are also frustrated with unfair and unlawful practices in their industry.

    The underquoting taskforce was made permanent in August 2024.

    If you suspect underquoting, report it to us.

    Find more information about underquoting.

    MIL OSI News –

  • MIL-OSI Russia: Income levels of people with disabilities are rising in China

    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

    BEIJING, July 22 (Xinhua) — The annual net income of households with disabled people in China grew by an average of 6.9 percent a year from 2020 to 2023, almost in line with the country’s GDP growth rate, Cheng Kai, chairman of the China Federation of Disabled People, said Tuesday.

    He spoke at a press conference organized by the State Council Information Office of the People’s Republic of China and dedicated to the results of the implementation of the 14th Five-Year Plan in China. -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: LHV Group unaudited financial results for Q2 and 6 months of 2025

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

    Income statement, EUR Th Q2 2025 Q1 2025 Q2 2024
    adjusted
    Net interest income 57,643 62,010 70,424
    Net fee and commission income 15,579 14,071 14,352
    Net financial income -380 2,747 -37
    Net insurance income 1,065 597 421
    Other operating income and expense 0 -4 638
    Total net income 73,907 79,421 85,798
    Staff costs -22,901 -22,655 -20,420
    Office expenses -679 -659 -874
    IT costs -4,017 -3,576 -3,267
    Marketing expenses -1,526 -1,258 -796
    Other operating expenses -11,387 -9,394 -10,741
    Total expenses -40,510 –37,542 –36,098
    Operating profit 33,397 41,879 49,700
    Profit before allowances 33,397 41,879 49,700
    Allowances 4,152 -5,667 -5,043
    Income tax expenses -6,784 -7,052 -6,071
    Net profit 30,765 29,160 38,586
    Minority holding 716 592 300
    Shareholders’ share of profit of parent    company 30,049 28,568 38,286
           
    Net earnings per share, EUR 0.09 0.09 0.12
    Diluted earnings per share, EUR 0.09 0.09 0.12
           
           
           
     Balance sheet, EUR Th June 2025 March 2025 June 2024
    Cash and due from banks 3,867,487 3,279,271 3,217,448
    Financial assets 454,979 442,463 157,131
    Loans to clients 5,038,379 4,774,970 3,925,877
    Loan impairment reserve -39,734 -45,629 -35,333
    Receivables from clients 16,626 9,439 15,380
    Other assets 46,058 47,771 49,220
    Total assets 9,383,795 8,508,285 7,329,723
    Demand deposits 4,669,435 4,189,062 3,659,675
    Term deposits 2,694,906 2,415,430 2,124,254
    Loans received 1,037,347 936,215 735,281
    Due to clients and loans received 8,401,688 7,540,707 6,519,211
    Accruals and other liabilities 105,692 163,690 100,709
    Subordinated loans 161,155 126,247 107,521
    Total liabilities 8,668,535 7,830,644 6,727,441
    Owners’ equity 715,260 677,641 602,282
    incl. minority holding 7,850 7,134 7,694
    Total liabilities and owner’s equity 9,383,795 8,508,285 7,329,723
             
                 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Investor Relations

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

    Communications

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

    Attachments

    The MIL Network –

  • MIL-Evening Report: Here’s why 3-person embryos are a breakthrough for science – but not LGBTQ+ families

    Source: The Conversation (Au and NZ) – By Jennifer Power, Principal Research Fellow, Australian Research Centre in Sex, Health and Society, La Trobe University

    Last week, scientists announced the birth of eight healthy babies in the United Kingdom conceived with DNA from three people. Some headlines have called it “three-person IVF”.

    The embryo uses the DNA from the egg and sperm of the intended father and mother, as well as cells from the egg of a second woman (the donor).

    This process – known as mitochondrial replacement therapy – allows women with certain genetic disorders to conceive a child without passing on their condition.

    While it’s raised broader questions about “three-parent” babies, it’s not so simple. Here’s why it’s unlikely this development will transform the diverse ways LGBTQ+ people are already making families.

    What this technology is – and isn’t

    The UK became the first country in the world to allow mitochondrial donation for three-person embryos ten years ago, in 2015.

    In other countries, such donations are banned or strictly controlled. In Australia, a staged approach to allow mitochondrial donation was introduced in 2022. Stage one will involve clinical trials to determine safety and effectiveness, and establish clear ethical guidelines for donations.

    These restrictions are based on political and ethical concerns about the use of human embryos for research, the unknown health impact on children, and the broader implications of allowing genetic modification of human embryos.

    There are also concerns about the ethical or legal implications of creating babies with “three parents”.

    Carefully and slowly considering these ethical issues is clearly important. But it’s inaccurate to suggest this process creates three parents.

    First, the amount of DNA the donor provides is tiny, only 0.1% of the baby’s DNA. The baby will not share any physical characteristics with the donor.

    While it is significant that two women’s DNA has been used in creating an embryo, it doesn’t mean lesbian couples will be rushing to access this particular in vitro fertilisation (IVF) technology.

    This technique is only used for people affected by mitochondrial disease and is closely regulated. It is not available more widely and in Australia, is not yet available even for this use.

    Second, while biological lineage is an important part of many people’s identity and sense of self, DNA alone does not make a parent.

    As many adoptive, foster and LGBTQ+ parents will attest, parenting is about love, connection and everyday acts of care for a child.

    How do rainbow families use IVF?

    Existing IVF is already expensive and medically invasive. Many fertility services offer a range of additional treatments purported to aid fertility, but extra interventions add more costs and are not universally recommended by doctors.

    While many lesbian couples and single women use fertility services to access donor sperm, not everyone will need to use IVF.

    Less invasive fertilisation techniques, such as intrauterine insemination, may be available for women without fertility problems. This means inserting sperm directly into the uterus, rather than fertilising an egg in a clinic and then implanting that embryo.

    Same-sex couples who have the option to create a baby with a sperm donor they know – rather than from a register – may also choose home-based insemination, the proverbial turkey baster. This is a cheaper and more intimate way to conceive and many women prefer a donor who will have some involvement in their child’s life.

    In recent years, “reciprocal” IVF has also grown in popularity among lesbian couples. This means an embryo is created using one partner’s egg, and the other partner carries it.

    Reciprocal IVF’s popularity suggests biology does play a role for LGBTQ+ women in conceiving a baby. When both mothers share a biological connection to the child, it may help overcome stigmatisation of “non-birth” mothers as less legitimate.

    But biology is by no means the defining feature of rainbow families.

    LGBTQ+ people are already parents

    The 2021 census showed 17% of same-sex couples had children living with them; among female same-sex couples it was 28%. This is likely an underestimate, as the census only collects data on couples that live together.

    Same-sex couples often conceive children using donor sperm or eggs, and this may involve surrogacy. But across the LGBTQ+ community, there are diverse ways people become parents.

    Same-sex couples are one part of the LGBTQ+ community. Growing numbers of trans and non-binary people are choosing to carry a baby (as gestational parents), as well as single parents who use donors or fertility services. Many others conceive children through sex, including bi+ people or others who conceive within a relationship.

    While LGBTQ+ people can legally adopt children in Australia, adoption is not common. However, many foster parents are LGBTQ+.

    When they donate eggs or sperm to others, some LGBTQ+ people may stay involved in the child’s life as a close family friend or co-parent.

    Connection and care, not DNA

    While mitochondrial replacement therapy is a remarkable advance in gene technology, it is unlikely to open new pathways to parenthood for LGBTQ+ people in Australia.

    Asserting the importance of families based on choice – not biology or what technology is available – has been crucial to the LGBTQ+ community’s story and to rainbow families’ fight to be recognised.

    Decades of research now shows children raised by same-sex couples do just as well as any other child. What matters is parents’ consistency, love and quality of care.

    Jennifer Power receives funding from the Australian Department of Health, Disability and Aged Care and the Australian Research Council.

    – ref. Here’s why 3-person embryos are a breakthrough for science – but not LGBTQ+ families – https://theconversation.com/heres-why-3-person-embryos-are-a-breakthrough-for-science-but-not-lgbtq-families-261462

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Australia: May crime statistics

    Source: New South Wales – News

    Property related crime including house break-ins, shop theft and car theft have continued to decline considerably in South Australia, the latest crime statistics have revealed.

    The May rolling year crime statistics reveal the total number of property related offences has decreased by eight per cent – or 7,604 offences – in the period with significant reductions in most offences within the category.

    Robbery and related offences have also continued to fall with a 10 per cent decline in offences recorded in the period – 80 offences – which is the sixteenth successive decrease in offences within that category.

    The May figures reveal aggravated robberies declined by 14 per cent – from 490 to 432 offences reported and non-aggravated robberies rose by three per cent – from 75 to 77 offences reported.

    Within the property related offences category theft and related offences recorded a 10 per cent decline in the period with a reduction in 5,709 offences – from 56,630 to 50,921.

    Car theft recorded a six per cent decline – from 3,725 to 3,513 offences – and theft from a vehicle recorded a 20 per cent drop in offences – from 9,567 to 7,639 offences. This followed similar falls in the previous three reporting periods.

    Shop theft has continued to fall in South Australia as ongoing proactive operations targeting recidivist offenders pay dividends with a seven per cent decline in the May period when 1,224 fewer offences were reported – from 18,405 to 17,181 incidents. This is the seventh successive decline in reported offences.

    House break-ins have also continued to decline with a 10 per cent decrease recorded in the May period – from 5,822 to 5,228 offences – or 594 fewer incidents reported. This followed an 11 per cent decrease in the April period, eight per cent in March and seven per cent in February.

    Non-residential break-ins also showed another healthy decrease with 318 fewer offences reported – from 3,708 to 3,390. The nine per cent drop followed a seven per cent decline in the April period and five per cent reductions in March and February.

    The May rolling year statistics reveal acts intended to cause injury, which includes serious assault resulting in injury and common assault, increased by four per cent from 23,546 to 24,428 incidents reported.

    Within that category the number of assault police incidents reported decreased by four per cent -from 626 to 601 incidents.

    Reported homicides have returned to traditional levels with 10 recorded in the rolling year period compared with 23 in the corresponding period. A similar number were reported in the March and April periods.

    MIL OSI News –

  • MIL-OSI New Zealand: Pāua poacher jailed for 2 and a half years

    Source: NZ Ministry for Primary Industries

    A Porirua poacher found with 619 pāua he intended to sell, has been sent to prison for 2 years and 6 months. 

    Ruteru Sufia (63) was sentenced in the Porirua District Court today on 4 charges under the Fisheries Act and one charge under the Fisheries (Amateur Fishing) Regulations, following a successful prosecution by the Ministry for Primary Industries. The Court also banned him from all forms of fishing for 3 years.

    In November 2022, Fishery Officers carried out a search warrant at Mr Sufia’s home and found 65 pāua in a freezer along with 554 shucked pāua in another freezer.

    “This was a large amount of pāua, more than 60 times the daily catch limit and more than 30 times the accumulation limit. Also, 45 of the pāua found were undersize. 

    While on bail on those charges, Mr Sufia was caught with a further 48 pāua, with 29 less than the minimum legal size. Mr Sufia was sentenced today on all matters.

    “Mr Sufia intended to sell this seafood, which is also illegal. We have zero tolerance for poachers – they affect the sustainability of our shared fisheries, and they affect people who legitimately trade in seafood,” says Fisheries New Zealand regional manager, Fisheries Compliance, Phil Tasker.

    “Mr Sufia claimed the pāua in his freezer was for a wedding in Auckland, an explanation the court didn’t believe. Mr Sufia’s offending was deliberate. He wasn’t concerned with legal size and catch limits; he was driven by financial gain from poaching this pāua. 

    When we find evidence of illegal fishing – you can be assured that we will investigate and depending on the circumstances, place the matter before the court,” Mr Tasker says.

    Ruteru Sufia has a long record of breaking fisheries rules with over 35 offences dealt with by MPI over a number of years.

    MPI encourages people to report suspected illegal activity through the ministry’s 0800 4 POACHER number (0800 476 224)

    For further information and general enquiries, call MPI on 0800 008 333 or email info@mpi.govt.nz

    For media enquiries, contact the media team on 029 894 0328

    MIL OSI New Zealand News –