Category: KB

  • MIL-OSI Russia: Boat excursions and exercise in parks: Moscow Longevity opens summer season

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    The summer season of the project has begun in the capital “Moscow Longevity”. This year, a rich outdoor program was prepared for the participants. It included daily exercise at various city sites, excursion boat trips, paddle boarding and kayaking classes, and other events. This was reported by Anastasia Rakova, Deputy Mayor of Moscow for Social Development.

    “The Moscow Longevity project is constantly growing and updating so that older city residents have even more opportunities to continue leading an active lifestyle, communicate and get vivid impressions. Summer in the capital is the perfect time to try something new. This year, for the first time, we opened excursion walks on the Moscow Longevity motor ship, which can carry up to 750 people daily. Passengers on the motor ship will see the historical sights of Moscow from an unusual angle, learn interesting facts about the city’s architecture and its rich history. The route of the walks covers the main iconic places of the capital: the Kremlin, St. Basil’s Cathedral, the Cathedral of Christ the Savior, Sparrow Hills and others. Of course, traditional popular activities will also be available to project participants: Nordic walking, dancing, walking tours, paddle boarding and kayaking classes and much more,” said Anastasia Rakova.

    Start your day with health benefits

    “Longevity Charging” will be held for the third year in a row. This season, new sites will appear so that each participant can choose a convenient address and start the morning with a useful workout.

    Twice a day, senior citizens will be given training on the central streets, squares and parks. “Longevity exercises” from 09:30 to 10:30 will help to invigorate them in the morning. In the evening, from 18:00 to 19:00, participants will be invited to training in breathing exercises that relieve fatigue and stress.

    The sites will be changed weekly. Thus, in June, Muscovites of the “silver” age will be able to play sports on the square in front of the Bolshoi Theater, near the monument to Nadezhda Krupskaya on Sretensky Boulevard and near the monument to Vladimir Mayakovsky on Triumfalnaya Square.

    Not only the project’s coaches will conduct morning exercises, but also famous athletes – Olympic champions, as well as popular artists. At sports meetings all summer you can see the branded healthy lifestyle mobile of “Moscow Longevity”. The schedule of classes and the list of places where they will be held are published onwebsite project, you can also register there.

    In addition, “Longevity Exercises” will be held in parks, sports grounds and squares in all districts of Moscow. The program will include not only sports activities, but also dancing, stretching, joint and breathing exercises. Available groups in each district will be announced at any Moscow longevity center.

    The color of the summer season will be white, so the trainers recommend that participants come to the exercises in appropriate T-shirts.

    Boat trips and dancing

    This year, for the first time, participants of Moscow Longevity will be offered to visit sightseeing tours on a motor ship. Three sessions are planned to be held daily. You can ride along the Moscow River on weekdays, it will take about two hours.

    The ships depart from the Crimean Bridge pier. You can choose a convenient date, time and register in advance on the website project.

    For the second year in a row, SUP and kayaking classes have been opened as part of Moscow Longevity. In addition, new types of water sports will be added this summer. In addition, participants will be able to enjoy Nordic walking training, walking tours, dancing and an extensive program of the project “Summer in Moscow” with sports and intellectual competitions.

    Moscow Active Longevity System

    “Moscow Longevity” is the largest health, educational and cultural project for senior Muscovites. Participants are offered classes with professional teachers at more than 1.3 thousand organizations. There are also over 140 comfortable Moscow Longevity Centers in almost every district of the capital.

    “Moscow Longevity” is implemented within the framework of the regional project “Older Generation” of the national project “Family” to increase the period of active longevity and healthy life expectancy in the capital.

    Get the latest news quicklythe city’s official telegram channel Moscow.

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    MIL OSI Russia News

  • MIL-OSI Russia: The patriotic program “City of Heroes” will be held at the “Youth Point” festival

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Large-scale festival “Youth Point” continues in the center of the capital – on Bolotnaya Square. It has become a platform for dialogue, where history intertwines with modernity, and young residents and visitors of the city communicate with heroes of the past and present.

    Every Friday the festival will host patriotic events: meetings with participants of the special military operation (SVO), historical film screenings, master classes, and intellectual games.

    The most popular among young people are dialogues with heroes. These are meetings where SVO participants share their thoughts with the guys in an informal setting and answer their questions.

    You can view the detailed program of events and register at portal “Youth of Moscow”.

    “Dialogues with heroes are not just communication with people who have accomplished heroic deeds, it is a unique opportunity for young people to hear real stories, get inspired and learn to respect the values that have made our country strong. We are sure that such meetings form not only patriotism, but also the personal development of participants, awakening in them the desire to act and not be afraid to take responsibility for the future,” said Margarita Savinkina, head of the “Youth of Moscow” project.

    Games, workshops and film screenings

    For those who want to test their knowledge, the organizers have prepared historical quizzes and interactive games. Young people will be able to immerse themselves in the events of the Great Patriotic War, look through archival documents and try themselves in the role of codebreakers.

    The key events at Bolotnaya Square will be master classes by SVO participants on developing practical skills. Young Muscovites will be able to learn, for example, the operating principles of unmanned aerial vehicles (UAVs). The class will include a theoretical part, during which combat veteran and director of the Vershina military-patriotic education center Ivan Bondyukov will talk about the types of UAVs and their use in various areas. After that, the children will consolidate their acquired knowledge in practice.

    At the cartography master class, you will learn how to correctly read topographic maps, determine the coordinates of the area, latitude and longitude, and will be told where they are used and what significance they have in the era of digitalization.

    During the lesson with Ekaterina Zubakova, head of the medical service, commander of the medical platoon, the participants will learn first aid techniques in various situations. Under the guidance of an experienced instructor, they will practice applying a tourniquet and pressure bandages, performing cardiopulmonary resuscitation and other necessary actions. In addition, they will demonstrate the equipment of rescuers and military personnel. The children will be able to try on some items of equipment and learn about their functions and use in various situations.

    Moscow to host Youth Point festivalCreative and patriotic camps have been prepared for Moscow youth

    To support a healthy lifestyle and physical fitness, a series of training sessions with heroes will be held in the open air. SVO fighters will share their sports experience with the youth of Moscow, demonstrate effective exercises for developing strength and endurance.

    “Conducting master classes on practical skills is an important component of such meetings. Each skill mastered by participants in these classes can become vital. Our task is to inspire the younger generation not only to learn, but also to take actions that will help create a better future for our country,” said Yegor Stativka, head of the City of Heroes direction of the Youth of Moscow project.

    In addition, the youth of Moscow together with the Foundation for the Memory of the Victory Commanders prepared the film “Comrades in Destiny”. During the screening, residents and guests of the capital will be able to get acquainted with the living history, family archives and biographies of the commanders of the Great Patriotic War. Children and grandchildren of those who played a huge role in the victory over the German invaders will share their memories and show personal belongings of the heroes.

    “City of Heroes”: the capital’s youth will honor the memory of the defenders of the Fatherland

    You can find out more about the opportunities for young Muscovites on the portal “Youth of Moscow” and on the project pages in social networks.

    Moscow is a city of youth. The capital offers wide opportunities for its development, creative self-expression, comfortable life and interesting leisure. The city has a developed infrastructure, thousands of events of different scale and focus are held.

    In honor of Youth Day, thematic events will be held at more than 250 city venues. As Sergei Sobyanin reported earlier, flagship event will be a festival that will take place on June 28 and 29 at Bolotnaya Square.

    You can find more detailed information and a map with all city events on the portal “Youth of Moscow”.

    Project “Summer in Moscow” — the main event of the season. It unites the most vibrant events of the capital. Every day in all districts of the city there are charity, cultural and sports programs, most of which are free. The Summer in Moscow project is being held for the second time, and the new season will be more eventful: new, original and colorful festivals and events will be added to the traditional ones.

    Get the latest news quicklyofficial telegram channel city of Moscow.

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    MIL OSI Russia News

  • MIL-OSI Russia: Maintenance of the Eternal Flame in the Alexander Garden will be carried out ahead of the Day of Remembrance and Sorrow

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    In the run-up to the Day of Remembrance and Sorrow, specialists from the city’s municipal services complex will carry out preventive maintenance of the Eternal Flame. This was announced by the Deputy Mayor of Moscow for Housing and Public Utilities and Improvement Petr Biryukov.

    “On Thursday, June 19, maintenance work will be carried out on the Eternal Flame at the Tomb of the Unknown Soldier in the Alexander Garden. This is a very important and highly complex job, so the most experienced specialists in the capital’s gas industry are involved in its implementation,” said Pyotr Biryukov.

    The maintenance takes about 40 minutes. During the work, the flame is transferred using a special torch to a temporary burner – an exact miniature copy of the main one.

    The specialists will lift the star of the memorial complex and move it to the side, after which they will replace the igniters, which are constantly under voltage, and check the operability of all systems. The memorial is equipped with a triple backup system, so rain, snow or wind cannot extinguish the flame.

    The Eternal Flame has not gone out for 58 years. It was lit on May 8, 1967. It is under the 24-hour control of Mosgaz employees. Specialists conduct scheduled inspections daily and technical maintenance once a month. Additional preventive maintenance is provided before Defender of the Fatherland Day and Victory Day.

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

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    MIL OSI Russia News

  • MIL-OSI Russia: About fifty yoga masters will conduct free open-air classes at VDNKh

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    The capital will host a celebration on June 21 International Day of Yoga as part of the Summer in Moscow project. Joint practices, creative workshops and an introduction to Indian culture will be organized for city residents and tourists at the site near the Michurinsky Garden at VDNKh.

    From 09:00 to 19:00, guests will enjoy a rich program that will begin with a welcome from the Ambassador of India to Russia Vinay Kumar. Participation is free, but pre-registration is required at digital tourism service Ruspass.

    Open-air classes will be held by about fifty masters. Those interested will get acquainted with various exercise complexes: yoga for joint health and recovery from injuries, for young mothers and stress relief. TV presenter Nikolai Drozdov will talk about the benefits of such classes for longevity, and Australian singer Peruqua, who practices vocal yoga, will perform musical compositions.

    The event is organized by the Government of Moscow and the Embassy of the Republic of India.

    Project “Summer in Moscow”— the main event of the season. It brings together the most vibrant events of the capital. Every day, charity, cultural and sports events are held in all districts of the city, most of which are free. The Summer in Moscow project is being held for the second time, and the new season will be more eventful: new, original and colorful festivals and events will be added to the traditional ones.

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

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    MIL OSI Russia News

  • MIL-OSI Russia: The capital’s urban development achievements will be presented at SPIEF-2025

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    The Moscow government will present the key achievements of the Complex of Urban Development Policy and Construction of the capital at the XXVIII St. Petersburg International Economic Forum (SPIEF). This was announced by Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “The capital continues to develop confidently, and at SPIEF we will show how ambitious city projects are being implemented. Visitors will be able to study in detail the models of key construction projects, for example, the territory of “Big City”, where over 260 thousand jobs will be created by 2040, as well as Mnevnikovskaya Poima – a modern developing area, where about three million square meters of housing and social facilities will appear, as well as one of the largest sports clusters in Moscow. For studying detailed information, the stand offers an interactive viewing mode,” said Vladimir Efimov.

    The Moscow Government stand will become a journey into the present and future of the metropolis. Forum guests will learn about the capital’s successes in urban development and see how the city is being transformed – from the creation of new points of economic growth to large-scale redevelopment of territories.

    Modern technologies will allow you to immerse yourself in the atmosphere of the construction sites. Visitors will be able to learn about Moscow’s iconic sites, explore new centers of economic activity, and virtually visit the Alexander Ovechkin International Hockey Academy and the Zvenigorodskaya metro station.

    “Our stand is not just a presentation, but an opportunity to show how Moscow creates a comfortable environment for life. We will present both current projects and long-term plans for the development of the city. You can visit the Moscow Government stand on all days of the forum, from June 18 to 21 inclusive,” said the Minister of the Moscow Government, Head of the Department of Urban Development Policy of the capital

    Vladislav Ovchinsky.

    SPIEF 2025 will become a platform where Moscow will demonstrate how it combines modern technologies, sustainable development and the preservation of the unique appearance of the capital.

    Get the latest news quicklythe city’s official telegram channel Moscow.

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    MIL OSI Russia News

  • MIL-OSI Russia: Another building will appear in the Moskvorechye-Saburovo district under the renovation program

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    In the Moskvorechye-Saburovo district in the south of the capital, a modern residential building will appear under the renovation program. This was reported by Juliana Knyazhevskaya, Chairman of the Committee for Architecture and Urban Development of the City of Moscow (Moskomarkhitektura).

    “Moskomarkhitektura has issued an urban development plan for a land plot of 1.06 hectares at the address: Kashirskoye Shosse, vozdeistvie 66-72. The maximum area of the house is 37.3 thousand square meters. It will appear in a formed urban environment – not far from existing social facilities and convenient transport routes,” noted Yuliana Knyazhevskaya.

    The first floor of the building is intended to be non-residential. Shops and other retail facilities, as well as service sector enterprises, will be able to open here.

    The area around the house will be improved: recreation areas, children’s and sports grounds will be equipped. This will create a comfortable urban environment for both new residents and all local residents.

    The urban development plan of a land plot is one of the fundamental documents required for the construction of objects. It contains detailed information about what can be built on the plot, what maximum parameters are permissible for a particular building.

    Earlier, Sergei Sobyanin said that the renovation program had also included 131 sites for the construction of houses.

    The renovation program was approved in August 2017. It concerns about a million Muscovites and provides for the resettlement of 5,176 houses. Sergei Sobyanin ordered to increase the pace of implementation of the program in twice.

    Moscow is one of the leaders among regions in terms of construction volumes. High rates of housing construction correspond to the goals and initiatives of the national project “Infrastructure for life”.

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

     

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    MIL OSI Russia News

  • MIL-OSI USA: Congresswoman McCollum Signs onto War Powers Resolution to Prohibit Involvement in Iran without a Vote in Congress

    Source: United States House of Representatives – Congresswoman Betty McCollum (DFL-Minn)

    SAINT PAUL, Minn. — Congresswoman Betty McCollum, Ranking Member of the House Appropriations Subcommittee on Defense, announced on Wednesday that she is co-sponsoring a war powers resolution introduced by Rep. Thomas Massie (R-KY) and Rep. Ro Khanna (D-CA) aimed at prohibiting U.S. military involvement in Iran without Congressional authorization.

    “I am deeply concerned by President Trump’s escalatory rhetoric. The United States is not at war with Iran. Any offensive military action taken by the U.S. must receive a vote in Congress,” said Congresswoman McCollum.

    The text of the Massie-Khanna Iran War Powers Resolution is available here.

    MIL OSI USA News

  • MIL-OSI New Zealand: Ōtaki to north of Levin highway project moving forward

    Source: New Zealand Transport Agency

    The NZ Transport Agency Waka Kotahi (NZTA) Board has given the green light for the Ōtaki to north of Levin (Ō2NL) highway to proceed to construction, marking a significant milestone towards a safer, more resilient and efficient transport connection for the fast-growing Horowhenua and Greater Wellington region.

    At its meeting earlier this afternoon, the NZTA Board confirmed additional funding to ensure that the project will progress, including some features from the originally consented concept design.

    NZTA Chief Executive Brett Gliddon says the new Ō2NL highway is a key project for the region, and a priority in the Government Policy Statement on land transport, as part of the Roads of National Significance (RoNS) programme.

    Mr Gliddon says throughout the planning and design process, NZTA has considered value for money options and listened to community feedback.

    As a result of today’s Board decision, the following elements of the project will be reinstated.

    • The new highway connection with Tararua Road in Levin, which will be a grade-separated interchange
    • The southern connection, near Taylors Road, will include a southbound onramp, allowing vehicles travelling south on the current SH1 to join the Peka Peka to Ōtaki expressway north of Ōtaki, and
    • The local road at Manakau Heights will be connected across the new highway via a bridge.

    The Ō2NL project will deliver a more efficient, resilient and safer highway which is firmly focused on enabling future growth and development in one of New Zealand’s fastest growing districts.

    “Now that funding has been confirmed along with the reinstated scope, we look forward to beginning construction later this year. We’re also looking forward to continuing our work with Horowhenua District Council as it progresses work on the Tara-Ika growth area,” says Mr Gliddon. 

    “Working in partnership with Muaūpoko Tribal Authority, local hapū of Ngāti Raukawa te au ki te Tonga and Horowhenua District Council, NZTA recognises Ō2NL is crucial for the development of the area and will become an integral part of the state highway network, adding to the more resilient, safer and more efficient drive north from Wellington. 

    “We understand the importance of the Ō2NL project to the community, and we appreciate the feedback provided during the recent community engagement.” 

    More information, including details on the level of additional funding approved, will be confirmed following the finalisation of contracts for construction of the project later this year.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: NZTA confirms outcome of state highway urban connector speed reviews

    Source: New Zealand Transport Agency

    NZ Transport Agency Waka Kotahi (NZTA) has announced the outcome of speed limit reviews recently completed on 16 ‘urban connector’ sections of state highway.

    The speed reviews were undertaken on 16 of 38 sections of state highway which were required to automatically reverse to previous higher speed limits under the Setting of Speed Limits Rule 2024, but where NZTA received strong community and stakeholder feedback on a preference to retain the lower speeds.

    Land Transport Rule: Setting of Speed Limits 2024

    After considering all of the safety, technical, cost and consultation information,  including whether the road environment had changed and become more urban since original speed limits were changed in the past few years, NZTA has confirmed that 13 of the 16 sections will retain their lower speeds limits.  

    The majority of these locations are short stretches of state highway heading into or out of small townships, where drivers are already naturally slowing down, and the environment is more suited to the lower speed limit consulted on.  

    In some of these locations considerable population growth has occurred in recent years, and in other areas the road environment has changed, with large numbers of driveways, many public amenities and high pedestrian usage, including at schools and marae nearby.

    In making its decisions, NZTA assessed the findings of a range of factors including a formal Cost Benefit Disclosure Statement (CBDS), safety and technical information, alongside consultation feedback from both stakeholders and the wider public.

    After considering all of the criteria, NZTA has confirmed that speed limits will increase on three of the 16 sections:

    • In Rotorua, speed limits on SH30 and SH30A will be increased to 60km/h, making speed limits more consistent with surrounding roads, reducing driver confusion and the need for frequent speed limit changes over short distances
    • In Turangi, on SH1, the section proposed to have a lower speed limit of 60km/h will be shortened, while the remaining section will reverse to the previous higher speed of 100km/h as required by the Rule.

    These changes will come into effect by 1 July 2025, as required by the Rule.

    The full list of 16 sites and the speed review outcome can be found on the NZTA website:

    Urban connectors new speed reviews outcome

    MIL OSI New Zealand News

  • MIL-OSI: Unaudited Interim Results

    Source: GlobeNewswire (MIL-OSI)

    19 June 2025

    HARGREAVE HALE AIM VCT PLC
    (the “Company”)

    Unaudited Interim Results

    The Company announces its half-year results for the six months ended 31 March 2025.

    These half-year results will be available on the Company’s website at  https://www.hargreaveaimvcts.co.uk/document-library/.

    In accordance with UK Listing Rule 6.4.1, a copy of this document will also be submitted to the UK Listing Authority via the National Storage Mechanism and will be available for viewing shortly at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

    Additionally, the interim report can also be found here:  HHV 2025 Interim Report

    Financial highlights

    Net asset value (NAV) per share   NAV total return   Tax free dividends paid in the period   Share price total return   Ongoing charges ratio
    34.48p   -8.19%   2.75   -6.28%   2.45%
    • £3.6m invested in Qualifying Companies in the period.
    • 92.29% invested by VCT tax value in Qualifying Investments at 31 March 2025.
    • Offer for subscription launched on 9 October 2024 to raise up to £20m. At the date of this report 14m Shares have been issued raising gross proceeds of £5.4m.
    • Final dividend of 1.25 pence and special dividend of 1.50 pence per Share paid 14 February 2025.
    • Interim dividend of 0.75 pence and special dividend of 0.50 pence per Share approved by the Board.
    Summary financial data Six months

    ending

    31-Mar-25

    Six months

    Ending

    31-Mar-24

    Year

    ending
    30 Sept-24

    NAV (£m) 126.75 155.74 148.01
    NAV per Share (p) 34.48 43.64 40.55
    NAV total return (%) -8.19 -2.59 -3.86
    Market capitalisation (£m) 124.25 150.60 142.34
    Share price (p) 33.80 42.20 39.00
    Share price discount to NAV per Share (%) 1.97 3.30 3.82
    Share price 5 year average discount to NAV per Share (%) -5.52 -5.83 -5.79
    Share price total return (%) -6.28 1.63 0.00
    Loss per Share for the period (p) -3.39 -1.22 -1.86
    Dividends paid per Share (p) 2.75 1.50 4.00
    Ongoing charges ratio (%) 2.45 2.45 2.43

    Investment Manager’s report

    Overview

    What would Harold Wilson, who famously quipped that a week was a long time in politics, have made of the extraordinary times we are living through? If JD Vance’s Munich speech signalled that the new administration was unconstrained by red lines, established protocols or strategic alliances, few truly anticipated the confusion and chaos that would follow on ‘Liberation Day’.

    The tumultuous reaction to Trump’s Rose Garden speech reflected the upending of the principles that had underpinned global trade for decades. Uncertainty swept through markets as analysts assessed the implications for the global economy, a task that was made considerably more difficult by the rapidly evolving nature of the proposed tariff regime and, more broadly, US trade policy. With future outcomes very difficult to predict and price in, significant volatility emerged in a huge range of financial assets. In the medium term, there are potentially profound implications for the value of invested capital as companies review their business models and supply chains.

    Spectacular as this has been, the impact on AIM has been relatively muted. Whilst risk assets in the US were overdue a correction, the same was not true of companies listed on AIM. The early part of the financial year was difficult with the 2024 UK Autumn Budget preceded by some unhelpfully stark messaging from the government. GDP, employment reports and PMI surveys all highlighted a notable softening in the UK economy through the second half of the 2024 calendar year. Measures of UK consumer and business confidence dipped, suggesting that households and companies were becoming increasingly cautious. Both the Office for Budget Responsibility and Bank of England reduced their GDP forecasts for 2025.

    Although UK fiscal policy is seen as being negative to growth and positive for inflation, a very significant increase in public spending is expected to support a pick up in UK economic activity in 2025 with the market consensus for GDP growth in 2025 currently +1.0%. While the Bank of England is currently forecasting 3.5% inflation in 2025, significantly above the 2.0% target, the downside risks to the global economy that have subsequently emerged, along with falling energy prices, are expected to reduce CPI to comfortably below 3.0% by early 2026. As a result, the outlook for interest rate cuts has significantly improved with the market now pricing in up to four interest cuts in 2025. For context, the market was expecting just one cut as we entered into 2025.

    You might reasonably expect all of this to heap more selling pressure onto UK equities. Whilst that was the case within the period under review, it is not so more recently. Although the constantly evolving narrative threatens to undermine the current dynamic, as it stands UK equity markets are going through a mini renaissance. As we have previously observed, UK markets are cheap, both in relative and absolute terms. As the US economy falters and the US exceptionalism narrative comes under pressure, investors are starting to look elsewhere. With a high weighting to more defensive companies, an expectation that the UK economy should emerge relatively unscathed from the new tariff regime, stable politics and low valuations, there is clear interest in UK equities from investors rotating away from US equities. This is yet to result in fund inflows to the IA UK Small Cap sector; however, the flow picture has improved. For now, at least, the market’s focus has shifted away from UK fiscal policy to international trade and the impact of tariffs.

    Returning to events within the six months to 31 March 2025, we regrettably report that AIM was again notably weak, with the Deutsche Numis Alternative Market (ex IC) returning -7.51% over the period on a total return basis. This was not specific to AIM, the domestically focused FTSE 250 Index also endured a difficult period as business and financial markets returned a withering assessment of the 2024 Autumn Budget. Ultimately, pressure on UK government borrowing costs forced the Chancellor to announce spending cuts in her 2025 Spring Statement. More will need to be done and we expect the government to come forward with new initiatives to promote growth, contain spending and/or increase taxes. It will be a difficult balancing act.

    Performance 

    In the six months to 31 March 2025 the unaudited NAV per Share decreased from 40.55 pence to 34.48 pence. A final dividend for FY24 of 1.25 pence and a special dividend of 1.50 pence were paid on 14 February 2025, giving a NAV total return to Shareholders of -3.32 pence per Share, which translates to a loss of -8.19%.

    The Qualifying Investments made a net contribution of -2.70 pence per Share whilst the Non-Qualifying Investments returned -0.25 pence per Share. The contribution to net asset performance is split out in further detail below.

    Qualifying Investments 

    Positive Contributors 

    In November 2024, Aquis Exchange (+95.8%, +£1.71m) received a takeover offer from its larger Swiss peer SIX Exchange at 727p, equivalent to an enterprise value of £194m. The offer price, which was at a 120% premium to the previous closing price and slightly above the 2021 share price high, resulted in an exit multiple of 4.7x book cost. The deal was approved by Aquis shareholders on 18 December 2024 and is expected to complete in July 2025.

    Shares in Cohort (+26.1%, +£1.12m) continued to perform strongly as European nations announced plans to significantly boost defence spending. The UK government announced plans to increase spending to 2.5% of GDP by 2027, an additional spend of £13.4bn p.a. from current levels. The company announced its subsidiary MASS Consultants received a two-year extension to its Joint Command and Staff Training contract for UK Strategic Command worth over £17.5m. Cohort also completed the acquisition of Australian-based satellite communications company EM Solutions.

    Oberon Investment Group (+43.3%, +£0.49m) raised a further £2.5m in February 2025, providing additional investment to accelerate growth across corporate broking, wealth management and fund management. We used the opportunity to increase our investment in the company. H1 2025 results showed revenue growth of 78% to £4.8m, coupled with a reduction in EBITDA losses. Current trading remains positive with like for like revenue growth of over 30% expected for FY25 (March YE).

    Ilika (+56.5%, +£0.48m) continued to make technical progress with Goliath, its solid state battery technology for electric vehicles (EV). In partnership with the UK Battery Industrialisation Centre, the company built a prototype battery using industrial equipment and processes, demonstrating the scalability of key steps in the manufacturing process. Goliath has achieved energy density parity with current lithium-ion cells, successfully reached its D6 milestone of testing 10Ah cells, and expects to achieve minimum viable product for EV applications within 2026. The company also successfully completed the transfer of its Stereax micro-battery production to US-based partner Cirtec Medical and expects this partnership to generate revenues in H2 2025.

    Intelligent Ultrasound (+30.0%, +£0.41m) received a takeover offer from Swedish medical simulation company Surgical Science at 13p in December 2024. The transaction valued Intelligent Ultrasound at an enterprise value of £4.7m. Adjusting for the sale of the Clinical-AI business to GE Healthcare in October 2024 for £40.5m, the offer placed a relatively low value on the simulation division. Whilst we voted against the scheme due to the low valuation, the transaction was approved by shareholders on 6 February 2025 and completed on 18 February 2025.

    Negative Contributors 

    Despite reductions to its overheads, a difficult retail environment undermined Kidly (-100.00%, -£1.26m) in its attempts to establish a fundable pathway to profitability. Kidly was placed into administration on 4 March 2025 following a formal sales process. Although the company was subsequently sold from administration, the proceeds did not result in any recoverable value to the Company.

    Zoo Digital (-74.3%, -£1.14m) issued a disappointing year-end trading update with FY25 revenues growing 24% to $50.5m (consensus: $55m) and EBITDA of at least $1m. Cash was also below expectations at $1m. Whilst the film and TV industry has begun to recover from the 2023 strikes, the company has been impacted by project delays and cancellations as streaming platforms continue to evaluate their commercial models.

    On 31 March 2025, Equipmake (-40.0%, -£0.93m) announced a £5m strategic investment from Caterpillar Ventures and a development agreement with Caterpillar. We view this outcome as a significant achievement for a company that was operating with limited working capital . The company also announced a development agreement with JCB, and post period-end, a £650,000 development agreement with CorPower Ocean. A new CFO was appointed.

    Team Internet (-54.8%, -£0.86m) shares fell sharply in Q4 2024 as the company announced that revenues at a recently acquired online marketing business, Shinez would fall short of expectations. This was followed by the negative news in Q1 2025 when the company announced that 2025 would be impacted by changes being made by Google, with a major impact on revenues in the company’s online marketing business. The company also confirmed that it was no longer in talks regarding a potential takeover offer. The year end trading update confirmed 2024 net revenues of $188m (-2% vs prior year) and an operating profit of $8.2m following a $36m impairment to the value of Shinez.

    Eagle Eye (-21.3%, -£0.85m) issued a profit warning in January 2025, cautioning that FY25 revenues would be below market expectations due to lengthening sales cycles. The warning was exacerbated by the company’s decision to make a strategic shift away from professional services work. More promising was the announcement of a major new partnership with a large software vendor where Eagle Eye will be directly integrated into the vendor’s product. Whilst this opportunity will take time to generate revenues, the partnership could become a very material profit generator in time. H1 2025 results reported revenues of £24.2m (unchanged year on year), and adjusted EBITDA of £5.9m.

    Recurring revenue represented 82% of the total with annual recurring revenue increasing by 16% to £41m. The company continues to benefit from a strong balance sheet with net cash of £11.7m.

    Non-qualifying Investments

    Within the non-qualifying portfolio, the IFSL Marlborough UK Micro-Cap Growth Fund and IFSL Marlborough Special Situations Fund declined by £1.27m over the period. We reduced our investments in both to release liquidity ahead of scheduled dividend payments.

    Within the non-qualifying direct equities portfolio, the weaker outlook for the UK economy following the 2024 Autumn Budget impacted WH Smith and Hollywood Bowl. Bodycote struggled with weak end markets, notably automotive and aerospace, and we sold the position. BAE Systems performed well as the outlook for defence spending in the UK and Europe strengthened and TP ICAP rose as the company announced plans to spin-out its data business Parameta Solutions alongside good results. We exited BAE Systems and took profits in Chemring following strong share price performance and initiated a new position in Trustpilot. The direct equity holdings returned -£0.14m (-1.3%). The losses were offset by gains in the non-qualifying fixed income portfolio, which returned +£0.35m.

    We released £0.99m of liquidity through the sale of the Next 3.0% 2026 bond, again to support scheduled dividend payments. The average maturity of the current portfolio of six investment grade corporate bonds is just over two years with an average yield to maturity of 4.9%. This part of the Company’s portfolio is expected to generate annual income of approximately £0.85m.

    Portfolio structure 

    The VCT is comfortably through the HMRC defined investment test and ended the period at 92.29% invested as measured by the HMRC investment test.

    The market for new Qualifying Investment remained very subdued with just two VCT qualifying IPOs within the 12 months to 31 March 2025. Within the period under review, AIM VCTs invested £27.2m across 17 companies. We were measured in our deployment of capital, investing £3.6m into five companies. The new Qualifying Investments included follow on investments into Rosslyn Data Technologies and Oberon Investments Group. We invested in one IPO, RC Fornax, in addition to two new equity investments into existing AIM companies, Feedback and IXICO.

    Feedback. The company provides software solutions for the NHS which deliver secure, compliant clinical workforce tools and data management. The company’s flagship product, Bleepa, is a secure, cloud-based platform that enables healthcare professionals to share and view medical images, as well as notes and other records between primary and secondary care settings. The company has secured partnerships with both a primary care record provider and an IT consultancy to implement the solution. The VCT invested as part of a £6.1m fundraise in November 2024.

    IXICO. The company is a contract research organisation which provides tech-enabled imaging analysis services to pharma companies conducting clinical trials in neurological diseases, with a focus on Huntingdon’s disease, Alzheimer’s disease and Parkinson’s disease. The company has a network of more than 1,000 qualified sites and currently works with 18 pharma clients across 26 studies. The VCT invested as part of a £4m fundraise in October 2024.

    RC Fornax. The company is an engineering consultancy founded by former RAF engineers which serves the defence industry. The VCT invested as part of the AIM IPO in February 2025 which raised £3.7m.

    Within the qualifying portfolio, we exited through takeover Equals Group, Intelligent Ultrasound and Learning Technologies Group. The Equals Group exit valuation of £277m resulted in a gain of 141% over book cost. The Learning Technologies Group exit valued the company at £858m, a gain of 376% over book cost. We also sold our investments in Gfinity and Surface Transforms following poor performance and reduced our holding in Cohort following a period of strong share price performance.

    By market value, the VCT had an increased 58.4% (Sep 24: 56.0%) weighting to Qualifying Investments, an increased 14.2% (Sep 24: 12.9%) weighting to non-qualifying fixed income, a reduced combined 11.9% (Sep 24: 13.4%) weighting to the IFSL Marlborough UK Micro-Cap Growth Fund and IFSL Marlborough Special Situations Fund following disposals, and a reduced 7.3% (Sep 24: 8.1%) weighting to non-qualifying direct equities. New investment into Qualifying Companies and the return of capital through dividend distributions resulted in a reduced weighting to cash of 7.6%(1) (Sep 24: 9.3%(1)) of net assets despite inflows from the offer for subscription and the sale of Qualifying and Non-Qualifying Investments.

    The HMRC investment tests are set out in Chapter 3 of Part 6, ITA , which should be read in conjunction with this Investment Manager’s report. Funds raised by VCTs are first included in the investment tests from the start of the accounting period containing the third anniversary of the date on which the funds were raised. Therefore, the allocation of Qualifying Investments as defined by the VCT Rules can be different to the portfolio weighting as measured by market value relative to the net assets of the VCT.

    Outlook

    Although tail risks remain, broadly speaking the US appears to be inching towards a more moderate and workable position on trade policy. Whilst equity markets have quickly moved to price in a benign outcome, other measures such as borrowing costs and exchange rates continue to signal concern about the medium and long term impact on the US. Historically, this would be perceived as a major risk for the global economy; however, in a multi-polar world, there is potential for a moderate decoupling.

    Back at home, the government has completed two reviews that have shown increased support for defence, healthcare and housebuilding. We have good exposure to the first two. There continues to be much discussion about the outlook for the UK as a leading financial hub and the manner in which we support our growth companies. This debate will continue for some time; however, we draw comfort from the level of engagement by a variety of stakeholders. Greater and more coordinated support for the broader growth ecosystem, even if in areas that are adjacent to where we operate, will provide welcome second order benefits.

    This has fed through to AIM, which has been strongly positive since the post ‘Liberation Day’ correction with the index moving higher as investors react to the growth and value opportunity. It remains too early to comment on the durability of the rally but the foundations are being laid. Whilst government spending, as recently outlined, will support the UK growth story for several years to come; we will need to wait until the 2025 Autumn Budget to see whether this is offset by further changes to tax policy.

    We continue to see signs that deal flow is improving, albeit slowly. UK fund flows remain negative; that is the missing piece that must fall into place before investors can finally feel that a corner may have been turned.

    END

    For further information, please contact:

    Canaccord Genuity Asset Management
    Oliver Bedford
     +44 20 7523 4837
    JTC (UK) Limited
    Uloma Adighibe
    Alexandria Tivey
    HHV.CoSec@jtcgroup.com
    +44 203 832 3877
    +44 203 832 3891

    LEI: 213800LRYA19A69SIT31        

    The MIL Network

  • MIL-OSI: Unaudited Interim Results

    Source: GlobeNewswire (MIL-OSI)

    19 June 2025

    HARGREAVE HALE AIM VCT PLC
    (the “Company”)

    Unaudited Interim Results

    The Company announces its half-year results for the six months ended 31 March 2025.

    These half-year results will be available on the Company’s website at  https://www.hargreaveaimvcts.co.uk/document-library/.

    In accordance with UK Listing Rule 6.4.1, a copy of this document will also be submitted to the UK Listing Authority via the National Storage Mechanism and will be available for viewing shortly at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

    Additionally, the interim report can also be found here:  HHV 2025 Interim Report

    Financial highlights

    Net asset value (NAV) per share   NAV total return   Tax free dividends paid in the period   Share price total return   Ongoing charges ratio
    34.48p   -8.19%   2.75   -6.28%   2.45%
    • £3.6m invested in Qualifying Companies in the period.
    • 92.29% invested by VCT tax value in Qualifying Investments at 31 March 2025.
    • Offer for subscription launched on 9 October 2024 to raise up to £20m. At the date of this report 14m Shares have been issued raising gross proceeds of £5.4m.
    • Final dividend of 1.25 pence and special dividend of 1.50 pence per Share paid 14 February 2025.
    • Interim dividend of 0.75 pence and special dividend of 0.50 pence per Share approved by the Board.
    Summary financial data Six months

    ending

    31-Mar-25

    Six months

    Ending

    31-Mar-24

    Year

    ending
    30 Sept-24

    NAV (£m) 126.75 155.74 148.01
    NAV per Share (p) 34.48 43.64 40.55
    NAV total return (%) -8.19 -2.59 -3.86
    Market capitalisation (£m) 124.25 150.60 142.34
    Share price (p) 33.80 42.20 39.00
    Share price discount to NAV per Share (%) 1.97 3.30 3.82
    Share price 5 year average discount to NAV per Share (%) -5.52 -5.83 -5.79
    Share price total return (%) -6.28 1.63 0.00
    Loss per Share for the period (p) -3.39 -1.22 -1.86
    Dividends paid per Share (p) 2.75 1.50 4.00
    Ongoing charges ratio (%) 2.45 2.45 2.43

    Investment Manager’s report

    Overview

    What would Harold Wilson, who famously quipped that a week was a long time in politics, have made of the extraordinary times we are living through? If JD Vance’s Munich speech signalled that the new administration was unconstrained by red lines, established protocols or strategic alliances, few truly anticipated the confusion and chaos that would follow on ‘Liberation Day’.

    The tumultuous reaction to Trump’s Rose Garden speech reflected the upending of the principles that had underpinned global trade for decades. Uncertainty swept through markets as analysts assessed the implications for the global economy, a task that was made considerably more difficult by the rapidly evolving nature of the proposed tariff regime and, more broadly, US trade policy. With future outcomes very difficult to predict and price in, significant volatility emerged in a huge range of financial assets. In the medium term, there are potentially profound implications for the value of invested capital as companies review their business models and supply chains.

    Spectacular as this has been, the impact on AIM has been relatively muted. Whilst risk assets in the US were overdue a correction, the same was not true of companies listed on AIM. The early part of the financial year was difficult with the 2024 UK Autumn Budget preceded by some unhelpfully stark messaging from the government. GDP, employment reports and PMI surveys all highlighted a notable softening in the UK economy through the second half of the 2024 calendar year. Measures of UK consumer and business confidence dipped, suggesting that households and companies were becoming increasingly cautious. Both the Office for Budget Responsibility and Bank of England reduced their GDP forecasts for 2025.

    Although UK fiscal policy is seen as being negative to growth and positive for inflation, a very significant increase in public spending is expected to support a pick up in UK economic activity in 2025 with the market consensus for GDP growth in 2025 currently +1.0%. While the Bank of England is currently forecasting 3.5% inflation in 2025, significantly above the 2.0% target, the downside risks to the global economy that have subsequently emerged, along with falling energy prices, are expected to reduce CPI to comfortably below 3.0% by early 2026. As a result, the outlook for interest rate cuts has significantly improved with the market now pricing in up to four interest cuts in 2025. For context, the market was expecting just one cut as we entered into 2025.

    You might reasonably expect all of this to heap more selling pressure onto UK equities. Whilst that was the case within the period under review, it is not so more recently. Although the constantly evolving narrative threatens to undermine the current dynamic, as it stands UK equity markets are going through a mini renaissance. As we have previously observed, UK markets are cheap, both in relative and absolute terms. As the US economy falters and the US exceptionalism narrative comes under pressure, investors are starting to look elsewhere. With a high weighting to more defensive companies, an expectation that the UK economy should emerge relatively unscathed from the new tariff regime, stable politics and low valuations, there is clear interest in UK equities from investors rotating away from US equities. This is yet to result in fund inflows to the IA UK Small Cap sector; however, the flow picture has improved. For now, at least, the market’s focus has shifted away from UK fiscal policy to international trade and the impact of tariffs.

    Returning to events within the six months to 31 March 2025, we regrettably report that AIM was again notably weak, with the Deutsche Numis Alternative Market (ex IC) returning -7.51% over the period on a total return basis. This was not specific to AIM, the domestically focused FTSE 250 Index also endured a difficult period as business and financial markets returned a withering assessment of the 2024 Autumn Budget. Ultimately, pressure on UK government borrowing costs forced the Chancellor to announce spending cuts in her 2025 Spring Statement. More will need to be done and we expect the government to come forward with new initiatives to promote growth, contain spending and/or increase taxes. It will be a difficult balancing act.

    Performance 

    In the six months to 31 March 2025 the unaudited NAV per Share decreased from 40.55 pence to 34.48 pence. A final dividend for FY24 of 1.25 pence and a special dividend of 1.50 pence were paid on 14 February 2025, giving a NAV total return to Shareholders of -3.32 pence per Share, which translates to a loss of -8.19%.

    The Qualifying Investments made a net contribution of -2.70 pence per Share whilst the Non-Qualifying Investments returned -0.25 pence per Share. The contribution to net asset performance is split out in further detail below.

    Qualifying Investments 

    Positive Contributors 

    In November 2024, Aquis Exchange (+95.8%, +£1.71m) received a takeover offer from its larger Swiss peer SIX Exchange at 727p, equivalent to an enterprise value of £194m. The offer price, which was at a 120% premium to the previous closing price and slightly above the 2021 share price high, resulted in an exit multiple of 4.7x book cost. The deal was approved by Aquis shareholders on 18 December 2024 and is expected to complete in July 2025.

    Shares in Cohort (+26.1%, +£1.12m) continued to perform strongly as European nations announced plans to significantly boost defence spending. The UK government announced plans to increase spending to 2.5% of GDP by 2027, an additional spend of £13.4bn p.a. from current levels. The company announced its subsidiary MASS Consultants received a two-year extension to its Joint Command and Staff Training contract for UK Strategic Command worth over £17.5m. Cohort also completed the acquisition of Australian-based satellite communications company EM Solutions.

    Oberon Investment Group (+43.3%, +£0.49m) raised a further £2.5m in February 2025, providing additional investment to accelerate growth across corporate broking, wealth management and fund management. We used the opportunity to increase our investment in the company. H1 2025 results showed revenue growth of 78% to £4.8m, coupled with a reduction in EBITDA losses. Current trading remains positive with like for like revenue growth of over 30% expected for FY25 (March YE).

    Ilika (+56.5%, +£0.48m) continued to make technical progress with Goliath, its solid state battery technology for electric vehicles (EV). In partnership with the UK Battery Industrialisation Centre, the company built a prototype battery using industrial equipment and processes, demonstrating the scalability of key steps in the manufacturing process. Goliath has achieved energy density parity with current lithium-ion cells, successfully reached its D6 milestone of testing 10Ah cells, and expects to achieve minimum viable product for EV applications within 2026. The company also successfully completed the transfer of its Stereax micro-battery production to US-based partner Cirtec Medical and expects this partnership to generate revenues in H2 2025.

    Intelligent Ultrasound (+30.0%, +£0.41m) received a takeover offer from Swedish medical simulation company Surgical Science at 13p in December 2024. The transaction valued Intelligent Ultrasound at an enterprise value of £4.7m. Adjusting for the sale of the Clinical-AI business to GE Healthcare in October 2024 for £40.5m, the offer placed a relatively low value on the simulation division. Whilst we voted against the scheme due to the low valuation, the transaction was approved by shareholders on 6 February 2025 and completed on 18 February 2025.

    Negative Contributors 

    Despite reductions to its overheads, a difficult retail environment undermined Kidly (-100.00%, -£1.26m) in its attempts to establish a fundable pathway to profitability. Kidly was placed into administration on 4 March 2025 following a formal sales process. Although the company was subsequently sold from administration, the proceeds did not result in any recoverable value to the Company.

    Zoo Digital (-74.3%, -£1.14m) issued a disappointing year-end trading update with FY25 revenues growing 24% to $50.5m (consensus: $55m) and EBITDA of at least $1m. Cash was also below expectations at $1m. Whilst the film and TV industry has begun to recover from the 2023 strikes, the company has been impacted by project delays and cancellations as streaming platforms continue to evaluate their commercial models.

    On 31 March 2025, Equipmake (-40.0%, -£0.93m) announced a £5m strategic investment from Caterpillar Ventures and a development agreement with Caterpillar. We view this outcome as a significant achievement for a company that was operating with limited working capital . The company also announced a development agreement with JCB, and post period-end, a £650,000 development agreement with CorPower Ocean. A new CFO was appointed.

    Team Internet (-54.8%, -£0.86m) shares fell sharply in Q4 2024 as the company announced that revenues at a recently acquired online marketing business, Shinez would fall short of expectations. This was followed by the negative news in Q1 2025 when the company announced that 2025 would be impacted by changes being made by Google, with a major impact on revenues in the company’s online marketing business. The company also confirmed that it was no longer in talks regarding a potential takeover offer. The year end trading update confirmed 2024 net revenues of $188m (-2% vs prior year) and an operating profit of $8.2m following a $36m impairment to the value of Shinez.

    Eagle Eye (-21.3%, -£0.85m) issued a profit warning in January 2025, cautioning that FY25 revenues would be below market expectations due to lengthening sales cycles. The warning was exacerbated by the company’s decision to make a strategic shift away from professional services work. More promising was the announcement of a major new partnership with a large software vendor where Eagle Eye will be directly integrated into the vendor’s product. Whilst this opportunity will take time to generate revenues, the partnership could become a very material profit generator in time. H1 2025 results reported revenues of £24.2m (unchanged year on year), and adjusted EBITDA of £5.9m.

    Recurring revenue represented 82% of the total with annual recurring revenue increasing by 16% to £41m. The company continues to benefit from a strong balance sheet with net cash of £11.7m.

    Non-qualifying Investments

    Within the non-qualifying portfolio, the IFSL Marlborough UK Micro-Cap Growth Fund and IFSL Marlborough Special Situations Fund declined by £1.27m over the period. We reduced our investments in both to release liquidity ahead of scheduled dividend payments.

    Within the non-qualifying direct equities portfolio, the weaker outlook for the UK economy following the 2024 Autumn Budget impacted WH Smith and Hollywood Bowl. Bodycote struggled with weak end markets, notably automotive and aerospace, and we sold the position. BAE Systems performed well as the outlook for defence spending in the UK and Europe strengthened and TP ICAP rose as the company announced plans to spin-out its data business Parameta Solutions alongside good results. We exited BAE Systems and took profits in Chemring following strong share price performance and initiated a new position in Trustpilot. The direct equity holdings returned -£0.14m (-1.3%). The losses were offset by gains in the non-qualifying fixed income portfolio, which returned +£0.35m.

    We released £0.99m of liquidity through the sale of the Next 3.0% 2026 bond, again to support scheduled dividend payments. The average maturity of the current portfolio of six investment grade corporate bonds is just over two years with an average yield to maturity of 4.9%. This part of the Company’s portfolio is expected to generate annual income of approximately £0.85m.

    Portfolio structure 

    The VCT is comfortably through the HMRC defined investment test and ended the period at 92.29% invested as measured by the HMRC investment test.

    The market for new Qualifying Investment remained very subdued with just two VCT qualifying IPOs within the 12 months to 31 March 2025. Within the period under review, AIM VCTs invested £27.2m across 17 companies. We were measured in our deployment of capital, investing £3.6m into five companies. The new Qualifying Investments included follow on investments into Rosslyn Data Technologies and Oberon Investments Group. We invested in one IPO, RC Fornax, in addition to two new equity investments into existing AIM companies, Feedback and IXICO.

    Feedback. The company provides software solutions for the NHS which deliver secure, compliant clinical workforce tools and data management. The company’s flagship product, Bleepa, is a secure, cloud-based platform that enables healthcare professionals to share and view medical images, as well as notes and other records between primary and secondary care settings. The company has secured partnerships with both a primary care record provider and an IT consultancy to implement the solution. The VCT invested as part of a £6.1m fundraise in November 2024.

    IXICO. The company is a contract research organisation which provides tech-enabled imaging analysis services to pharma companies conducting clinical trials in neurological diseases, with a focus on Huntingdon’s disease, Alzheimer’s disease and Parkinson’s disease. The company has a network of more than 1,000 qualified sites and currently works with 18 pharma clients across 26 studies. The VCT invested as part of a £4m fundraise in October 2024.

    RC Fornax. The company is an engineering consultancy founded by former RAF engineers which serves the defence industry. The VCT invested as part of the AIM IPO in February 2025 which raised £3.7m.

    Within the qualifying portfolio, we exited through takeover Equals Group, Intelligent Ultrasound and Learning Technologies Group. The Equals Group exit valuation of £277m resulted in a gain of 141% over book cost. The Learning Technologies Group exit valued the company at £858m, a gain of 376% over book cost. We also sold our investments in Gfinity and Surface Transforms following poor performance and reduced our holding in Cohort following a period of strong share price performance.

    By market value, the VCT had an increased 58.4% (Sep 24: 56.0%) weighting to Qualifying Investments, an increased 14.2% (Sep 24: 12.9%) weighting to non-qualifying fixed income, a reduced combined 11.9% (Sep 24: 13.4%) weighting to the IFSL Marlborough UK Micro-Cap Growth Fund and IFSL Marlborough Special Situations Fund following disposals, and a reduced 7.3% (Sep 24: 8.1%) weighting to non-qualifying direct equities. New investment into Qualifying Companies and the return of capital through dividend distributions resulted in a reduced weighting to cash of 7.6%(1) (Sep 24: 9.3%(1)) of net assets despite inflows from the offer for subscription and the sale of Qualifying and Non-Qualifying Investments.

    The HMRC investment tests are set out in Chapter 3 of Part 6, ITA , which should be read in conjunction with this Investment Manager’s report. Funds raised by VCTs are first included in the investment tests from the start of the accounting period containing the third anniversary of the date on which the funds were raised. Therefore, the allocation of Qualifying Investments as defined by the VCT Rules can be different to the portfolio weighting as measured by market value relative to the net assets of the VCT.

    Outlook

    Although tail risks remain, broadly speaking the US appears to be inching towards a more moderate and workable position on trade policy. Whilst equity markets have quickly moved to price in a benign outcome, other measures such as borrowing costs and exchange rates continue to signal concern about the medium and long term impact on the US. Historically, this would be perceived as a major risk for the global economy; however, in a multi-polar world, there is potential for a moderate decoupling.

    Back at home, the government has completed two reviews that have shown increased support for defence, healthcare and housebuilding. We have good exposure to the first two. There continues to be much discussion about the outlook for the UK as a leading financial hub and the manner in which we support our growth companies. This debate will continue for some time; however, we draw comfort from the level of engagement by a variety of stakeholders. Greater and more coordinated support for the broader growth ecosystem, even if in areas that are adjacent to where we operate, will provide welcome second order benefits.

    This has fed through to AIM, which has been strongly positive since the post ‘Liberation Day’ correction with the index moving higher as investors react to the growth and value opportunity. It remains too early to comment on the durability of the rally but the foundations are being laid. Whilst government spending, as recently outlined, will support the UK growth story for several years to come; we will need to wait until the 2025 Autumn Budget to see whether this is offset by further changes to tax policy.

    We continue to see signs that deal flow is improving, albeit slowly. UK fund flows remain negative; that is the missing piece that must fall into place before investors can finally feel that a corner may have been turned.

    END

    For further information, please contact:

    Canaccord Genuity Asset Management
    Oliver Bedford
     +44 20 7523 4837
    JTC (UK) Limited
    Uloma Adighibe
    Alexandria Tivey
    HHV.CoSec@jtcgroup.com
    +44 203 832 3877
    +44 203 832 3891

    LEI: 213800LRYA19A69SIT31        

    The MIL Network

  • MIL-OSI: Interim and Special Dividend Announcement

    Source: GlobeNewswire (MIL-OSI)

    19 June 2025

    HARGREAVE HALE AIM VCT PLC
    (the “Company”)

    Interim and Special Dividend Announcement

    Further to the announcement of the unaudited interim results of the Company for the six month period ending 31 March 2025, the Company declares its interim dividend payment of 0.75 pence per share and a special dividend of 0.50 pence per share, as timetabled below:

    Ex-Dividend Date: 26 June 2025
    Record Date: 27 June 2025
    Payment Date 25 July 2025

    The last date for receipt of elections in respect of the Dividend Re-investment Scheme (“DRIS”) is 11 July 2025 and a further announcement on the DRIS will be released in due course.

    END

    For further information, please contact:

    Canaccord Genuity Asset Management
    Oliver Bedford 
     

    +44 20 7523 4837

    JTC (UK) Limited
    Uloma Adighibe
    Alexandira Tivey
    HHV.CoSec@jtcgroup.com
    +44 203 832 3877
    +44 203 832 3891

    LEI: 213800LRYA19A69SIT31        

    The MIL Network

  • MIL-OSI Economics: Underwriting Auction for sale of Government Securities for ₹27,000 crore on June 20, 2025

    Source: Reserve Bank of India

    Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on June 20, 2025 (Friday).

    As per the extant scheme of underwriting commitment notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) auction, applicable to each Primary Dealer (PD), are as under:

    (₹ crore)
    Security Notified Amount MUC amount per PD Minimum bidding commitment per PD under ACU auction
    6.75% GS 2029 15,000 358 358
    7.09% GS 2054 12,000 286 286

    The underwriting auction will be conducted through multiple price-based method on June 20, 2025 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E-Kuber) System between 09:00 A.M. and 09:30 A.M. on the day of underwriting auction.

    The underwriting commission will be credited to the current account of the respective PDs with RBI on the day of issue of securities.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/562

    MIL OSI Economics

  • MIL-OSI Economics: Underwriting Auction for sale of Government Securities for ₹27,000 crore on June 20, 2025

    Source: Reserve Bank of India

    Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on June 20, 2025 (Friday).

    As per the extant scheme of underwriting commitment notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) auction, applicable to each Primary Dealer (PD), are as under:

    (₹ crore)
    Security Notified Amount MUC amount per PD Minimum bidding commitment per PD under ACU auction
    6.75% GS 2029 15,000 358 358
    7.09% GS 2054 12,000 286 286

    The underwriting auction will be conducted through multiple price-based method on June 20, 2025 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E-Kuber) System between 09:00 A.M. and 09:30 A.M. on the day of underwriting auction.

    The underwriting commission will be credited to the current account of the respective PDs with RBI on the day of issue of securities.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/562

    MIL OSI Economics

  • Government signs MoU to boost inclusive education for PwDs

    Source: Government of India

    Source: Government of India (4)

    The Department of Empowerment of Persons with Disabilities on Wednesday signed a tripartite agreement with the National Institute of Open Schooling (NIOS) and the National Council of Educational Research and Training (NCERT) to enhance inclusive education for Persons with Disabilities (PwD).

    The event, held in New Delhi, was presided over by Union Minister for Social Justice and Empowerment Dr. Virendra Kumar and Union Minister for Education Dharmendra Pradhan.

    The collaboration aims to establish a framework that promotes education for persons with disabilities, in line with the Rights of Persons with Disabilities Act, 2016, and the National Education Policy (NEP) 2020. This initiative seeks to build an inclusive educational ecosystem that provides equitable learning opportunities across the country.

    Under the terms of the agreement, NIOS will set up Special Accredited Institutions for Education of the Divyangjan (SAIEDs). These will recognize special schools managed by NGOs funded through DEPwD’s Deendayal Divyangjan Rehabilitation Scheme (DDRS).

    The SAIEDs will provide a range of educational programs, including Open Basic Education (Levels A, B, and C), Secondary, Senior Secondary, and vocational courses. NIOS will oversee admissions, examination registration, distribution of self-learning materials (SLMs), and issuance of ID cards, hall tickets, and certificates. The institute will also ensure that students with disabilities receive necessary accommodations and exemptions during examinations.

    Complementing these efforts, NCERT will review and modify curricula and textbooks to align with the teaching methods outlined in the NEP 2020. The aim is to ensure that learning materials are relevant, accessible, and inclusive for students with disabilities.

    Addressing the MoU signing ceremony, Dr. Kumar highlighted the untapped potential of children with disabilities, saying, “When given the right platform, they can illuminate society with their talents.” He reiterated Prime Minister Narendra Modi’s vision of equal educational access for every child in the country. “This MoU is a strong step in that direction. Inclusive education for children with disabilities is not merely an option but a right,” Dr. Kumar said.

    Pradhan emphasized the transformative power of education, noting that NEP 2020 aims to provide equal educational opportunities to all. He urged society to foster greater awareness and sensitivity towards disability.

    The education minister also highlighted recent technological advancements that cater to the specific needs of persons with disabilities. Furthermore, he announced a mission-mode initiative to equip schools across states with accessible toilet facilities within the coming year, ensuring no child drops out due to lack of basic infrastructure.

    Speaking at the event, Rajesh Aggarwal, Secretary of DEPwD, stressed education’s critical role in the lives of children with disabilities. He expressed the government’s commitment to this cause, noting encouraging signs such as children with disabilities pursuing science education and aspiring to enter premier institutes like IITs and IIMs.

    Aggarwal also praised NIOS for introducing Indian Sign Language as a subject at the secondary level, reflecting the government’s dedication to building an inclusive society.

    Sanjay Kumar, Secretary of the Department of School Education and Literacy (DoSEL), reiterated the collective goal of ensuring every child with a disability completes their school education. He affirmed that NIOS, DEPwD, and NCERT are working together to drive transformational change for children with disabilities.

    To ensure smooth coordination and implementation of the MoU, a Joint Coordination Committee (JCC) comprising representatives from all three signatories will be constituted. The committee will monitor progress, address operational challenges, and ensure timely achievement of the partnership’s objectives.

  • Government signs MoU to boost inclusive education for PwDs

    Source: Government of India

    Source: Government of India (4)

    The Department of Empowerment of Persons with Disabilities on Wednesday signed a tripartite agreement with the National Institute of Open Schooling (NIOS) and the National Council of Educational Research and Training (NCERT) to enhance inclusive education for Persons with Disabilities (PwD).

    The event, held in New Delhi, was presided over by Union Minister for Social Justice and Empowerment Dr. Virendra Kumar and Union Minister for Education Dharmendra Pradhan.

    The collaboration aims to establish a framework that promotes education for persons with disabilities, in line with the Rights of Persons with Disabilities Act, 2016, and the National Education Policy (NEP) 2020. This initiative seeks to build an inclusive educational ecosystem that provides equitable learning opportunities across the country.

    Under the terms of the agreement, NIOS will set up Special Accredited Institutions for Education of the Divyangjan (SAIEDs). These will recognize special schools managed by NGOs funded through DEPwD’s Deendayal Divyangjan Rehabilitation Scheme (DDRS).

    The SAIEDs will provide a range of educational programs, including Open Basic Education (Levels A, B, and C), Secondary, Senior Secondary, and vocational courses. NIOS will oversee admissions, examination registration, distribution of self-learning materials (SLMs), and issuance of ID cards, hall tickets, and certificates. The institute will also ensure that students with disabilities receive necessary accommodations and exemptions during examinations.

    Complementing these efforts, NCERT will review and modify curricula and textbooks to align with the teaching methods outlined in the NEP 2020. The aim is to ensure that learning materials are relevant, accessible, and inclusive for students with disabilities.

    Addressing the MoU signing ceremony, Dr. Kumar highlighted the untapped potential of children with disabilities, saying, “When given the right platform, they can illuminate society with their talents.” He reiterated Prime Minister Narendra Modi’s vision of equal educational access for every child in the country. “This MoU is a strong step in that direction. Inclusive education for children with disabilities is not merely an option but a right,” Dr. Kumar said.

    Pradhan emphasized the transformative power of education, noting that NEP 2020 aims to provide equal educational opportunities to all. He urged society to foster greater awareness and sensitivity towards disability.

    The education minister also highlighted recent technological advancements that cater to the specific needs of persons with disabilities. Furthermore, he announced a mission-mode initiative to equip schools across states with accessible toilet facilities within the coming year, ensuring no child drops out due to lack of basic infrastructure.

    Speaking at the event, Rajesh Aggarwal, Secretary of DEPwD, stressed education’s critical role in the lives of children with disabilities. He expressed the government’s commitment to this cause, noting encouraging signs such as children with disabilities pursuing science education and aspiring to enter premier institutes like IITs and IIMs.

    Aggarwal also praised NIOS for introducing Indian Sign Language as a subject at the secondary level, reflecting the government’s dedication to building an inclusive society.

    Sanjay Kumar, Secretary of the Department of School Education and Literacy (DoSEL), reiterated the collective goal of ensuring every child with a disability completes their school education. He affirmed that NIOS, DEPwD, and NCERT are working together to drive transformational change for children with disabilities.

    To ensure smooth coordination and implementation of the MoU, a Joint Coordination Committee (JCC) comprising representatives from all three signatories will be constituted. The committee will monitor progress, address operational challenges, and ensure timely achievement of the partnership’s objectives.

  • Assembly bypolls: Voting underway on five seats in Bengal, Kerala, Punjab and Gujarat

    Source: Government of India

    Source: Government of India (4)

    Amid heightened security, voting began on Thursday for by-elections to five Assembly seats across Punjab, West Bengal, Gujarat, and Kerala — marking the first electoral contest since the Pahalgam terror attack and Operation Sindoor.

    Polling commenced at 7 a.m. and will continue till 6 p.m. (till 8 p.m. in Gujarat), with heavy deployment of central security forces and local police, alongside live monitoring through an extensive webcasting system.

    By-elections are being held in Kaliganj (West Bengal), Nilambur (Kerala), Ludhiana West (Punjab), and the Visavadar and Kadi constituencies in Gujarat. The counting of votes is scheduled for June 23.

    With Assembly elections due in West Bengal and Kerala early next year, this mini electoral battle has gained added political significance.

    Ludhiana West Bypoll (Punjab)

    The Ludhiana West seat fell vacant following the death of AAP MLA Gurpreet Bassi Gogi in January. The bypoll is witnessing a multi-cornered contest involving key political players — AAP, Congress, BJP, and Shiromani Akali Dal (SAD) — vying for dominance in this urban constituency.

    A total of 14 candidates are contesting, with 1,75,469 eligible voters, including 85,371 women and 10 from the third gender. Voting is taking place across 194 polling stations, all equipped for 100% live webcasting.

    The ruling AAP has fielded Rajya Sabha MP and industrialist Sanjeev Arora (61), who is also known for his social welfare initiatives. The Congress has nominated former Minister and state Working President Bharat Bhushan Ashu (51), a two-time MLA from the constituency, who lost to Gogi in 2022 by 7,512 votes.

    The BJP has fielded senior leader Jiwan Gupta, a core committee member and former state general secretary. SAD’s candidate is Parupkar Singh Ghuman, a lawyer and former president of the Ludhiana Bar Association.

    Nilambur Bypoll (Kerala)

    The Nilambur seat fell vacant after MLA P.V. Anvar resigned following a fallout with the CPI(M)-led LDF over allegations he made against Chief Minister Pinarayi Vijayan and his aides.

    Among the 10 candidates, key contenders include LDF’s M. Swaraj, UDF’s Aryadan Shoukath, independent candidate and former MLA P.V. Anvar (now aligned with TMC), and Mohan George from the BJP-led NDA.

    Over 2.32 lakh voters are eligible to vote across 263 polling booths. The final voter list includes 1,13,613 men, 1,18,760 women, and 8 transgender persons, with 7,787 first-time voters, 373 overseas voters, and 324 service voters.

    Kaliganj Bypoll (West Bengal)

    The by-election in Kaliganj, located in Nadia district, was triggered by the death of Trinamool Congress MLA Nasiruddin Ahamed in February. The TMC has nominated his daughter, Alifa, for the seat.

    The contest is shaping up as a triangular battle between the TMC, BJP’s Ashis Ghosh, and Congress candidate Kabil Uddin Shaikh, who is supported by the CPI(M). The campaign has been influenced by issues of identity politics, post-Murshidabad riot concerns, and a nationalist wave following Operation Sindoor.

    Visavadar and Kadi Bypolls (Gujarat)

    Voting for the Visavadar and Kadi Assembly seats began at 7 a.m. and will continue until 8 p.m., with 294 polling stations set up in each constituency.

    Visavadar (Junagadh district):

    The seat became vacant in December 2023 after AAP MLA Bhupendra Bhayani resigned and joined the BJP.

    The BJP has fielded Kirit Patel, Congress has nominated Nitin Ranpariya, and AAP’s candidate is former state president Gopal Italia, making it a high-stakes triangular contest.

    Notably, the BJP hasn’t won this seat since 2007. In 2022, Bhayani defeated BJP’s Harshad Ribadiya (a Congress defector) by 7,063 votes.

    Kadi (Mehsana district):

    A reserved constituency for Scheduled Castes, the seat fell vacant following the death of BJP MLA Karsan Solanki in February.

    The BJP has nominated Rajendra Chavda, while Congress has fielded former MLA Ramesh Chavda, who won in 2012 but lost to Solanki in 2017. AAP’s candidate is Jagdish Chavda. Like Visavadar, Kadi is also witnessing a triangular contest among BJP, Congress, and AAP.

    (With inputs from IANS)

  • PM Modi highlights 11 years of workforce-centric reforms, cites historic gains in jobs and social protection

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday reaffirmed the Union government’s focus on the welfare and empowerment of workers, emphasising that India’s workforce has remained at the heart of policy, planning, and progress over the past 11 years.

    This strategic shift, he said, has driven historic gains in employment generation and significantly expanded the coverage of social protection schemes.

    Responding to an article authored by Union Minister Dr. Mansukh Mandaviya, PM Modi wrote on X:
    “Union Minister Dr. @mansukhmandviya highlights how over the past 11 years, India’s workforce has been at the centre of policy, planning and progress. This shift has led to historic improvements in employment generation and the expansion of social protection coverage. Do read!”

    In his article, titled “11 Years of Empowering Shram Shakti and Building a Future”, Mandaviya elaborated on the Modi government’s efforts to uplift the working population and lay the foundation for a Viksit Bharat (Developed India).

    He outlined the government’s multi-pronged approach, which prioritises employment creation, social safety nets, robust institutional mechanisms, and the use of digital infrastructure to reach the last mile.

    Mandaviya pointed to flagship initiatives such as Make in India, Skill India, and Digital India, which, when combined with large-scale infrastructure development, have led to substantial job creation.

    A notable focus has been placed on empowering women and youth. Citing official data, Mandaviya noted that the female employment rate rose from 22 percent in 2017–18 to 40.3 percent in 2023–24. During the same period, the national unemployment rate declined from 5.6 percent to 3.2 percent.

    Youth employability also saw a major boost, climbing from 33 percent in 2013 to 55 percent in 2024. In support of women entrepreneurs, Mandaviya said over 70 centrally sponsored schemes across 15 ministries are currently in operation.

    Addressing the unorganised sector, including gig and platform workers, he said the E-Shram portal has been a critical tool in creating a comprehensive database and linking these workers to welfare schemes.

    He also outlined the government’s reforms in key social institutions such as the Employees’ Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC).

    Citing data from the International Labour Organization (ILO), Mandaviya noted that India’s social protection coverage rose from 19 percent in 2016 to 64.3 percent in 2025. Over 94 crore citizens are now covered under at least one welfare scheme, making India home to the world’s second-largest welfare system by beneficiary count.

  • MIL-OSI Russia: What to do this coming weekend at the Summer in Moscow project sites

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    The events of the large-scale project “Summer in Moscow” continue in the capital. We tell you where you can go with your whole family on June 20, 21 and 22. Most events are free to attend, but some require registration.

    Rock, Paper, Scissors Championship

    A large-scale championship in the game “Rock, Paper, Scissors” is held at the project sites. Every day, children and adults can compete on Tverskoy Boulevard.

    On June 20, the game will be held in Severnoye Butovo Park (Feodosiyskaya Street, Building 7, Building 6). On June 21, you can play on the Moskovskikh Sezonov site on Teply Stan Street (Building 1b). On June 22, the competition will be held in Akademichesky Park (Dmitrya Ulyanov Street, Building 9a, Building 1). The sites will be open from 15:00 to 20:00.

    Tournament “Heroes of the Chessboard. Moscow”

    On June 22 from 12:00 to 16:00 the next competitions of the tournament “Heroes of the Chessboard. Moscow” will take place. To participate you need to register.

    An open series of blitz chess tournaments is taking place at40 sites all over Moscow – in parks, on boulevards and in the districts.

    Tverskoy Boulevard: Summer Club “Moscow”

    On Tverskoy Boulevard, there is a summer club called “Moscow”, where residents and guests of the capital of all ages can find an event to their liking. They are offered rock climbing and yoga classes, master classes, lectures and much more.

    From June 20 to 22, guests will be able to take part in beauty events dedicated to the graduation party. The space of two pop-up stores will be occupied by Russian brands. In addition, three beauty trucks will be operating on the site. All guests will be offered discounts, gifts, yoga classes, presentations, a photo and video zone with floral elements. And for graduates, a master class on creating perfume will be held.

    Strastnoy Boulevard: Art Studio venue

    The “Art Studio” site operates on Strastnoy Boulevard. Here, professionals help guests master the basics of painting and create unique masterpieces. Participants in outdoor classes paint landscapes and still lifes in various artistic techniques.

    Master classes will be held at two sites every hour from 12:00 to 19:00. On June 20, you can attend watercolor painting classes “Flower Stained Glass” and “Fruit Slices”. On June 21, there will be master classes in pastel technique “Dandelion Field” and “Colorful Houses”. On June 22, guests are invited to master classes in pencil drawing “Summer Pop Art” and “Sunny Day”.

    Music of the past at the vintage market in Kolomenskoye

    The vintage market in Kolomenskoye will be open all summer and will bring together the most famous collectors of the capital, who bring here precious relics of the past: jewelry, household items, figurines, dishes, badges, coins, stamps, rare books and much more.

    From June 20 to 22, guests at the market will learn what the USSR era sounded like and get acquainted with the musical technology of the past.

    The journey through time will take place under the atmospheric sound of gramophone records. Guests of the vintage market will be delighted by the famous radio amateur and blogger Nikita Sharapa, better known as Elektronik, one of the main participants of the project “Made in the USSR”.

    At Nikita Sharapa’s master classes, which will be held these days at 16:00, visitors will learn how gramophones, radios and record players work and how tube sound differs from modern technology. Guests will hear that very crackling of records and the characteristic “warm” analog sound that evokes nostalgia. Nikita will tell you what kind of music devices were created in the USSR and what hits of those times were played on them in every home.

    Chistoprudny Boulevard: “Street. Dances” venue

    On Chistoprudny Boulevard, the “Street. Dances” venue has opened, where master classes for the whole family are held. On weekends, the “Summer in Moscow. Dances” children’s and youth tournament is held here, and anyone can become a spectator.

    On the big stage on June 20 from 18:00 to 19:00 there will be a demonstration performance by the dance group Todes, from 19:00 to 22:00 – a master class in bachata and a dance party. On the same day on the middle stage from 19:00 to 22:30 you can attend a master class in salsa and a dance party.

    On June 21, the main stage will host a qualifying round of children’s competitions from 12:00 to 19:00, and a salsa master class and dance party from 19:00 to 22:30. On the middle stage, from 16:00 to 17:00, you can take part in a master class of the dance community “TantsBaza”. From 19:00 to 22:30, there will be a master class in modern swing and a party of the dance school “Lisoborie”.

    On June 22, from 6:00 PM to 7:00 PM, students of the musical theater of the Russian Institute of Theater Arts — GITIS will perform songs from the war years on the rotunda stage. On the main stage, from 4:00 PM to 6:00 PM, there will be a master class in Argentine tango by the CyberTango dance school, from 6:00 PM to 7:00 PM — demonstration performances by the Todes dance group, from 7:00 PM to 10:30 PM — a salsa master class and a dance party. On the middle stage, from 5:00 PM to 7:00 PM, there will be a master class by the 9 Halls dance school, from 7:00 PM to 10:30 PM — a master class in Dominican bachata and a dance party.

    Bolotnaya Square

    The Green Market pavilion of the Made in Moscow project is open in Repinsky Square on Bolotnaya Square. On June 20, from 6:00 p.m. to 8:30 p.m., test session cosmetics of the capital brand. The factory employees will tell you how to use them and let you test samples.

    On June 21, at 15:00, the Creative hub will host a lesson on making a wax candle, at 16:00 — a meditative lesson on coloring a mandala, and at 17:00 — a unique master class on fashion illustration. At 19:00, everyone will be able to take part in neurographics, where everyone will project their task on a piece of paper using a drawing.

    At the “Microgreens” class in the “Razvitie” hub from 17:00 to 18:00, participants will be taught how to grow microgreens and told about their beneficial properties. At 18:00, a lettering master class will begin. On the veranda from 14:00 to 15:00, Spirit.Fitness will hold a sports master class to develop endurance and flexibility of the body. And at 18:00, the popular game “Mafia” will take place.

    Revolution Square: Leto Department Store

    This summer, the department store of Russian designers “Leto” is open on Revolution Square. Everyone can not only try on clothes they like and update their wardrobe, but also listen to lectures, take part in master classes and even watch performances.

    On June 21 from 4:00 PM to 5:30 PM you can listen to a lecture on “The History of Flower Etiquette”. Guests will learn about the importance of flowers in the life of Russian society and the bouquet fashion of the 19th century.

    From 18:00 to 19:30 there will be a master class oninterior bouquet Ksenia Mezentseva, designer-decorator, researcher of Russian and foreign traditions, and the Sota flowers floristic team.

    Festival “Book in the City”: venue in Pushkin Square

    On June 21 from 20:40 to 21:30, cellist Anastasia Vesnina will perform at the “Book in the City” venue in Pushkin Square (near house 2 on Pushkin Square).

    On June 22 from 16:00 to 17:00 there will be a presentation of the book “Letters of Lidochka M”. The collection-document tells about Lida Makeeva, a young reader of the library, whose childhood fell on the years of the Great Patriotic War. On the same day from 18:00 to 19:00 there will be a creative meeting with the actor of theater and cinema Anton Shagin and a presentation of his book “Neblyandiya. Poems for children”.

    Circus divertissements

    On June 20, 21 and 22, there will be circus entertainment for the whole family. Aerial gymnasts, equilibrists, jugglers, clowns and four-legged artists will perform for guests in the Moskino Cinema Park and Izmailovsky Park. Also on June 20, the third tent will open in the Yuzhnoye Butovo Landscape Park. Spectators will be able to see acrobatic numbers, clown skits and exciting stunts with the participation of artists from the famous Bolshoi Moscow Circus on Vernadsky Avenue.

    The performances will run throughout the summer season. On Fridays, performances are from 7:00 PM to 8:30 PM, and on Saturdays and Sundays, from 2:00 PM to 3:30 PM and 6:00 PM to 7:30 PM. You can find out more and buy tickets atofficial website project.

    Yoga classes

    On June 21, fans of the most popular Eastern health practice will gather at the helipad near the Michurinsky Garden of VDNKh to celebrate the XI International Day of Yoga.

    From 09:00 to 19:00 there will be sessions for visitors of any level of training, master classes on drawing mandalas and playing the hang, lectures on Ayurveda and meditation, as well as live performances by musicians. Creative events and dishes of traditional Indian cuisine will complement the festive atmosphere. To visit, you must register on the portal Ruspass.

    In addition, yoga classes are held every weekend on the roofs of the district centers “Meeting Place” as part of the project “My Sports District”Adults over 18 years of age can join them.

    The training sessions will be held at 12 sites in five districts of Moscow: SAO — “Meeting Place “Prague”, “Meeting Place “Rassvet”, “Meeting Place “Neva””; VAO — “Meeting Place “Yantar”, “Meeting Place “Sofia”, “Meeting Place “Budapest”, “Meeting Place “Mars””; SAO — “Meeting Place “Elbrus”, “Meeting Place “Angara”, “Meeting Place “Orbita””; YuVAO — “Meeting Place “Height” and “Meeting Place “Ekran””. On June 21, the classes will begin at 11:45. It is necessary register.

    The project also invites you to engage in physical education in unusual places “Sports Weekend”. Yoga classes are held on Saturdays at 50 venues, including such picturesque places as the Vorontsovo Estate, the Hermitage Garden, Khodynka Field Park, the Muzeon Arts Park, Victory Park and others. In addition, the project includes 13 festival venues in different areas of Moscow. To attend the classes, you must register.

    Events in the parks

    In Izmailovsky Park of Culture and Leisure (Bolshoy Krug Alley, Building 7) on June 21 from 12:00 to 19:00 retro studio. Visitors will be able to feel like representatives of the 19th century nobility. They will be offered to try on images of bygone eras and take photos in costumes as a keepsake.

    A master class will be held in Kuzminsky Park (house 1, building 2) on June 21 from 12:00 to 14:00 “Noble accessories. Brooches”Participants will learn about the history of jewelry, its symbolism, and will also make an exquisite brooch under the guidance of a master.

    On June 21, from 12:00 to 19:00 (with breaks), the Kuzminki estate will host noble promenade. Guests will stroll through a picturesque park, discuss books they have read, and listen to romances with a guitar. They will be able to learn the rules of etiquette and learn fashionable social dances of the 19th century.

    On June 1, from 12:00 to 18:00, Vorontsov Park will host estate gamesVisitors can play lapta, croquet, badminton, gorodki and trinkets, and also visit the throwing range.

    The festival “Gardens and Vegetable Gardens” continues in five parks of the capital. This weekend, about 130 events and master classes have been prepared for visitors. A series of classes on making bookmarks and postcards with fresh flowers, clay panels with plant prints and ecobombing (making balls with seeds that can be taken with you and planted in any convenient place) will be held for children. In addition, a practical lesson “Microgreens” will be held. Experienced experts will also share simple techniques, useful tips and life hacks for a healthy lifestyle.

    Cinema park “Moskino”

    On June 21, from 12:00 to 19:00, the Moskino cinema park will host waltz, quadrille and polka dance lessons every hour. You can take part in them with an entrance ticket to the cinema park.

    You can immerse yourself in the world of film production by participating in the immersive quest performance “Film! Film! Film!” It will take place at the “Uyezdny Gorod” site on June 21 from 12:00 to 18:30 (sessions will be held every hour). Visitors will not only see how a film is shot, but will also complete a number of fun tasks, meet the director, producer and actors, and will be able to create their own masterpiece. Participation is included in the price of an entrance ticket to the cinema park.

    On June 22 at 12:00, the Moscow of the 1940s site will host the “We Remember” event, dedicated to the memory of the heroes of the Great Patriotic War. Guests will be able to spell out the word “remember” from red lanterns with lit candles and recall how exactly 83 years ago – on June 22, 1941 – the festive graduation morning was overshadowed by the news of Germany’s treacherous attack on the Soviet Union. At 12:15, there will be a minute of silence.

    In addition, on June 22 at 14:00, 16:00 and 18:00, as part of the Day of Remembrance and Sorrow, the cinema park will show the play “Tish” based on the story “The Dawns Here Are Quiet…” by war veteran writer Boris Vasiliev. The performers are the actors of the Young Muscovites Theatre. Admission is with a ticket to the cinema park.

    For the anniversary of Victory

    On June 21 and 22, two outstanding films about the Great Patriotic War will be shown in Zaryadye Park as part of the Cinema Summer in Zaryadye project: The Cranes Are Flying (1957) and Brest Fortress (2010). The screenings will begin at 22:15. The films will be presented by Honored Artist of Russia Vasily Mishchenko, as well as director, screenwriter, producer and People’s Artist of Russia Igor Ugolnikov. Admission is free.

    Also, as part of the Theatre Weekend festival, on June 22 in Zaryadye Park, on the stage of the large amphitheater, you can see plays and literary and musical productions based on plays by writers who fought in the war and dedicated to the 80th anniversary of victory in the Great Patriotic War. Actors from the Russian Academic Youth Theater will show the play “Amazement Before Life” based on the works of the writer and war veteran Viktor Rozov. Third-year students from the Moscow State Institute of Culture will perform the literary and musical composition “Frontline Brigades.” The play “On a Clear Day,” based on a story by Viktor Astafyev, will be presented by actors from the Donetsk Republican Youth Theater. Actors from the Moscow Sovremennik Theater will show fragments of the play “A Tale. The story of extraordinary love, and the students of the Moscow Art Theatre School will present the musical and literary program Russian Poets about the Great Patriotic War, which will feature works by Bulat Okudzhava, Alexander Tvardovsky, Andrei Voznesensky, Olga Bergolts, Vladimir Lugovskoy, Yunna Moritz and other authors. People’s Artist of Russia Konstantin Raikin will read the poem Snowfall by David Samoilov. The festival program will end with a concert by actors from the Central Academic Theatre of the Russian Army.

    Festival “Theatre Boulevard”

    On June 22 at 15:00, the amphitheater on Pokrovsky Boulevard will show the concert performance “It happened, the men left…” Actresses from the Moscow Drama Theater named after A.S. Pushkin will take part in the production.

    The project “Unconquered Kursk” will begin here on June 22 at 21:00. Guests will learn more than 200 real stories of veterans of the Battle of Kursk and modern defenders of the Fatherland.

    On June 22 at 8:00 pm, the amphitheater in the Polytech Museum Park will host the play “Children of War”. It is based on letters from children and parents from the front, archival materials and memories, into which war songs are woven.

    On the stage on Chistoprudny Boulevard on June 22 at 18:00 the performance-concert “May Waltz” will begin. It is dedicated to the artists of the front brigades who performed in dugouts, hospitals, factory workshops and on ships.

    The third festival “Theatre Weekend” will be held in Zaryadye Park on June 21 and 22. It will provide an opportunity to get acquainted with both recognized stage masters and talented debutants, opening up new horizons of theatrical art.

    Project “Summer in Moscow”— the main event of the season. It brings together the most vibrant events of the capital. Every day, charity, cultural and sports programs are held in all districts of the city, most of which are free. The Summer in Moscow project is being held for the second time, and this season will be more eventful: new, original and colorful festivals and events will be added to the traditional ones.

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

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

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

    https: //vv.mos.ru/nevs/ite/155437073/

    MIL OSI Russia News

  • MIL-Evening Report: It’s not just ‘chronic fatigue’: ME/CFS is much more than being tired

    Source: The Conversation (Au and NZ) – By Sarah Annesley, Senior Postdoctoral Research Fellow in Cell and Molecular Biology, La Trobe University

    Edwin Tan/Getty

    Myalgic encephalomyelitis / chronic fatigue syndrome (ME/CFS) is as complex as its name is difficult to pronounce. It’s sometimes referred to as simply “chronic fatigue”, but this is just one of its symptoms.

    In fact, ME/CFS is a complex neurological disease, recognised by the World Health Organization, that affects nearly every system in the body.

    The name refers to muscle pain (myalgia), inflammation of the brain (encephalomyelitis), and a profound, disabling fatigue that rest can’t relieve.

    However, the illness’s complexity – and its disproportionate impact on women – means ME/CFS has often been incorrectly labelled as a psychological disorder.

    What is ME/CFS?

    ME/CFS affects people of all ages but is most commonly diagnosed in middle age. It is two to three times more common in women than men.

    While the exact cause is unknown, ME/CFS is commonly triggered by an infection.

    The condition has two core symptoms: a disabling, long-lasting fatigue that rest doesn’t relieve, and a worsening of symptoms after physical or mental exertion.

    This is known as post-exertional malaise. It means even slight exertion can make symptoms much worse, and take much longer than expected to recover.

    This varies between people, but could mean simply having a shower or attending a social event triggers worse symptoms, either immediately or days later.

    These symptoms include pain, sleep issues, cognitive difficulties (such as thinking, memory and decision-making), flu-like symptoms, dizziness, gastrointestinal problems, heart rate fluctuations and many more.

    For some people, symptoms can be managed in a way that allows them to work. For others, the disease is so severe it can leave them housebound or bedridden.

    Symptoms can fluctuate, changing over time and in intensity, making ME/CFS a particularly unpredictable and misunderstood condition.

    Not just ‘in your head’

    A growing body of scientific evidence, however, clearly shows ME/CFS is a biological, not mental, illness.

    Neuroimaging studies have revealed differences in the brain activity and structure of people with ME/CFS, including poor blood flow and lower levels of neurotransmitters (chemical messengers in the nervous system).

    Other research indicates the condition affects how the body produces energy (the metabolism), fights infection (the immune system), delivers oxygen to muscles and tissues, and regulates blood pressure and heart rate (the vascular system).

    Issues with criteria

    To diagnose ME/CFS, a clinician will also exclude other possible causes of fatigue, which can be a lengthy process. A patient needs to meet a set of clinical criteria.

    But one of the major challenges in researching ME/CFS is that the diagnostic criteria clinicians use vary worldwide.

    Some criteria focus solely on fatigue and include people with alternate reasons for fatigue, such as a psychiatric disorder.

    Others are more narrow and may only capture ME/CFS patients with more severe symptoms.

    As a result, it can be very difficult to compare across different studies, as the reasons they include or exclude participants vary so much.

    Changes to the guidelines

    In Australia, doctors often receive little formal education about ME/CFS.

    Most commonly, they follow the Royal Australian College of General Practitioners’ clinical guidelines to diagnose and manage ME/CFS. These are based on the Canadian Consensus Criteria which are considered more stringent than other ME/CFS diagnostic criteria.

    They include post-exertional malaise and fatigue for more than six months as core symptoms.

    However, these guidelines are outdated and rely heavily on controversial studies that assumed the primary cause of ME/CFS was “deconditioning” – a loss of physical strength due to a fear or avoidance of exercise.

    These guidelines recommend ME/CFS should be treated with cognitive behavioural therapy – a common psychotherapy which focuses on changing unhealthy thoughts and behaviours – and graded exercise therapy, which gradually introduces more demanding physical activity.

    While cognitive behaviour therapy can be effective for some people managing ME/CFS, it’s important not to frame this condition primarily as a psychological issue.

    Graded exercise therapy can encourage people to push beyond their “energy envelope”, which means they do more than their body can manage. This can trigger post-exertional malaise and a worsening of symptoms.

    In June 2024, the Australian government announced A$1.1 million towards developing new clinical guidelines for diagnosing and managing ME/CFS.

    Leading organisations have scrapped the recommendation of graded exercise therapy in the United States (in 2015) and the United Kingdom (in 2021). Hopefully Australia will follow suit.

    What can people with ME/CFS do?

    While we wait for updated clinical guidelines, “pacing” – or working within your energy envelope – has shown some success in managing symptoms. This means monitoring and limiting how much energy you expend.

    Some evidence also suggests people who rest in the early stages of their initial illness often experience better long-term outcomes with ME/CFS.

    This is especially relevant after the COVID pandemic and with the emergence of long COVID. Studies indicate more than half of those affected meet stringent clinical criteria for ME/CFS.

    In times of acute illness we should resist the temptation to push through. Choosing to rest may be a crucial step in preventing a condition that is much more debilitating than the original infection.

    The Conversation

    Sarah Annesley receives funding from The Judith Jane Mason & Harold Stannett Williams Memorial Foundation and ME Research UK (SCIO charity number SCO36942).

    ref. It’s not just ‘chronic fatigue’: ME/CFS is much more than being tired – https://theconversation.com/its-not-just-chronic-fatigue-me-cfs-is-much-more-than-being-tired-258803

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Is Meghan, Duchess of Sussex, right? Can dancing or twerking really bring on labour?

    Source: The Conversation (Au and NZ) – By Hannah Dahlen, Professor of Midwifery, Associate Dean Research and HDR, Midwifery Discipline Leader, Western Sydney University

    Meghan, Duchess of Sussex is back in the news this week in a podcast discussing her viral “baby mama” video.

    The video was made four years ago when she gave birth to daughter Lilibet, but only released recently. It shows the duchess in hospital, heavily pregnant, dancing and twerking to bring on labour. Her husband, Prince Harry, dances too.

    She wrote on Instagram:

    Both of our children were a week past their due dates […] so when spicy food, all that walking, and acupuncture didn’t work – there was only one thing left to do!

    The video follows the trend of other celebrities sharing similar videos of themselves dancing while heavily pregnant.

    So does the Duchess of Sussex have a point? Can dancing really bring on labour?

    First, how about dancing during pregnancy?

    Exercise is recommended during pregnancy, and while some higher-impact exercises may need to be moderated, it carries minimal risk for healthy women and their babies. In fact, evidence shows regular exercise during pregnancy is associated with a variety of benefits.

    Exercise can lead to a lower risk of gestational diabetes, caesarean section, the use of forceps and vacuum during birth and perinatal mental health problems, as well as quicker postpartum recovery.

    While pregnant women might more often gravitate towards a brisk walk, some laps in the pool, or a group exercise class, dancing is a good option too. The American College of Obstetricians and Gynecologists has even listed dance as one of the forms of exercise found to be safe and beneficial during pregnancy.

    The movements of dance involve the hips and pelvic area (especially twerking) which may help the baby get into a more optimal position and tone the pelvic floor, though the evidence for this is lacking.

    Choose any form of dancing you like – even belly dancing. In a small qualitative study with two pregnant women, belly dancing was found to be joyful and empowering, boosting feelings of wellbeing.

    You can dance any time during pregnancy but you may need to adapt your dance moves as the pregnancy advances and your growing belly gets in the way.

    If you have risk factors such as bleeding it’s best to be cautious and discuss any planned dancing with your health-care provider.

    Music can also play an important role in mental health, as well as reducing pain, blood pressure and heart rate. So the combination of exercise with music, in the form of dance, could have added benefits.

    A man and a pregnant woman dancing together.
    Exercise is recommended during pregnancy – so why not try dancing?
    sandsun/Shutterstock

    What about dancing to induce labour, and during labour?

    Meghan is not the first woman to report dancing to induce their labour, but this is all anecdotal. There’s no scientific evidence to show dancing is an effective way to bring on labour.

    There is perhaps slightly more evidence suggesting benefits once labour has started.

    Many women seek non-pharmacological options (not involving medications) during labour. Especially early in labour, dancing may decrease the intensity of pain and lead women to feel more satisfied and in control of their labour.

    In one study, 60 women were randomly allocated to either dance during labour, or not. The dancing group had significantly lower pain scores and higher satisfaction than the control group.

    And again, music can lower levels of pain in early labour. So combining relaxing music with some movement could be a good thing.

    Dancing to your comfort levels during labour could be helpful due to the combination of pelvic movements, being upright, moving the body rhythmically and changing the position of the body frequently.

    Evidence shows being upright and moving during labour is beneficial as it enables the pelvis to open up fully to let the baby through and reduces the length of labour.

    Being upright and moving could also help transfer some pressure from the baby’s head onto the cervix, which can stimulate prostaglandin, a key chemical involved in progressing labour.

    It’s been suggested dancing during labour could help get the baby into a better position for delivery and therefore help labour to proceed more smoothly and quickly. But ultimately we don’t have reliable evidence to substantiate these hypotheses.

    So, did Meghan induce her labour with dance?

    It’s unclear if dancing helped to induce the duchess’ labour as she was in hospital and may have later had a medical or surgical induction.

    Labour can be medically induced with hormones, by using a balloon-shaped catheter placed in the woman’s cervix to open it up, or by breaking the bag of water around the baby.

    Alternatively, Meghan’s labour may have eventually begun naturally without her dancing having played a role if she chose to wait another few days.

    However, the joy on her face and connection and support of her husband Prince Harry is a good way to increase oxytocin, a hormone that stimulates contractions. This could have helped too.

    Meghan may have been on the right track, but we need more research before we can confidently recommend dancing to bring on or during labour.

    In the meantime, while there’s no evidence to show dancing is effective for inducing labour, it’s highly unlikely to have any downsides – and it may contribute to a more positive childbirth experience. So, if you feel inclined, I say dance away.

    The Conversation

    Hannah Dahlen receives funding from the Australian Research Council and the National Health and Medical Research Council.

    ref. Is Meghan, Duchess of Sussex, right? Can dancing or twerking really bring on labour? – https://theconversation.com/is-meghan-duchess-of-sussex-right-can-dancing-or-twerking-really-bring-on-labour-259257

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Russia: TIR Export-Import Operations Launched in China-SCO Demonstration Zone in Qingdao

    Translation. Region: Russian Federal

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

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

    BEIJING, June 19 (Xinhua) — The China-SCO Regional Economic and Trade Cooperation Demonstration Zone in the eastern Chinese coastal city of Qingdao recently received the first two trucks carrying imported canned beef under the TIR international road system. Thus, in addition to export operations, the zone has also started import operations under the TIR system, according to Qingdao Customs.

    TIR is an international system that simplifies the transportation of goods between countries. Within this system, the goods are sealed at the starting point of the route and checked only upon arrival at the destination, and at intermediate border crossings, checkpoint officers only check the TIR carnet data and the customs seal for the vehicle. This reduces the time of transportation and reduces possible risks associated with administrative customs control procedures and damage to the goods.

    China joined the TIR Convention in July 2016.

    According to Gao Lin, CEO of one of the local foreign trade companies, for his company, transport operating within the TIR system has significant advantages over sea shipping in terms of shorter transportation time and, in comparison with air transport, due to lower costs, which has made it possible to significantly save both on time and on the cost of import-export logistics.

    According to customs data, there are currently four TIR routes operating in the China-SCO Demonstration Zone: China-Russia, China-Kyrgyzstan-Uzbekistan, China-Kazakhstan and China-Belarus-Russia.

    In the first five months of 2025, the number of TIR shipments from the zone was 169, up 245 percent year-on-year, with the total value of cargo transported reaching 121 million yuan (about 16.87 million US dollars), up 329 percent, making the zone the leader in China in terms of TIR shipment volume. -0-

    MIL OSI Russia News

  • MIL-OSI Russia: Israel says it has launched new airstrikes in western Iran

    Translation. Region: Russian Federal

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

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

    JERUSALEM/TEHRAN, June 19 (Xinhua) — The Israeli Air Force carried out new strikes on western Iran on Wednesday evening, Israel Defense Forces (IDF) spokesman Effie Defrin said in a video message.

    The fighter jets flew over launch sites and storage areas for surface-to-surface missiles, hitting people trying to access and remove ammunition from previously shelled areas, he said.

    The IDF spokesman said it was the third major wave of Israeli airstrikes on Iranian territory in the past 24 hours. During the initial overnight operation, more than 50 fighter jets struck about 40 targets around Tehran.

    “Among the targets hit was a centrifuge plant, a key component of the Iranian regime’s uranium enrichment efforts,” Defrin said. Also hit was a facility near Tehran used to produce anti-tank missiles, including for the Lebanese militant group Hezbollah, he added.

    The second wave of strikes began on Wednesday afternoon, with aircraft hitting more than 20 targets in the Tehran area.

    “The targets hit were part of Iran’s military industry and its security apparatus,” said E. Defrin. “They include three important facilities related to missile production, including engines, navigation systems and missile assembly.”

    In a video address to the nation, Israeli Prime Minister Benjamin Netanyahu said Israel had air superiority over Tehran.

    Israel carried out an airstrike on Wednesday near police headquarters in Tehran, injuring several police officers, Iran’s state news agency IRNA reported. -0-

    MIL OSI Russia News

  • MIL-OSI Russia: UN chief calls for de-escalation of conflict between Israel and Iran, ceasefire

    Translation. Region: Russian Federal

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

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

    UNITED NATIONS, June 19 (Xinhua) — United Nations Secretary-General Antonio Guterres on Wednesday called for an immediate de-escalation of the conflict between Israel and Iran and a subsequent ceasefire.

    “I remain deeply alarmed by the ongoing military escalation in the Middle East between Israel and Iran. I reiterate my call for immediate de-escalation leading to a ceasefire,” A. Guterres said in a statement.

    He warned against widening the conflict to involve other countries.

    “I urge everyone to avoid further internationalization of the conflict. Any additional military intervention could have enormous consequences not only for the parties involved, but for the entire region and for international peace and security in general.”

    A. Guterres condemned the strikes, which resulted in tragic and unnecessary loss of life and injury to civilians, as well as damage to homes and critical civilian infrastructure.

    He said diplomacy remains the best and only way to resolve issues related to Iran’s nuclear program and regional security.

    “The UN Charter remains our common foundation for saving people from the scourge of war,” he said. “I call on all Member States to fully respect the Charter and international law, including international humanitarian law.” –0–

    MIL OSI Russia News

  • MIL-OSI Russia: E. Macron called for talks to resolve Iranian nuclear crisis and condemned escalation of conflict

    Translation. Region: Russian Federal

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

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

    PARIS, June 19 (Xinhua) — French President Emmanuel Macron said on Wednesday that a lasting solution to the Iranian nuclear issue can only be achieved through negotiations.

    During a meeting of the National Defense and Security Council, he reiterated that France is committed to an uncompromising dialogue with Iran.

    The president also expressed concern about the ongoing escalation of tensions between Israel and Iran, with strikes increasingly targeting targets unrelated to the Islamic Republic’s nuclear and missile programs, the Elysee Palace said in a press release.

    “It is urgent to stop these military operations, which pose a serious threat to regional security,” the Elysee Palace said.

    E. Macron also instructed the Minister of Foreign Affairs to propose in the coming days, in close consultation with key European partners, a credible plan for a negotiated settlement that would end the conflict. –0–

    MIL OSI Russia News

  • MIL-OSI Russia: Nine killed in road accident in southwest India

    Translation. Region: Russian Federal

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

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

    NEW DELHI, June 19 (Xinhua) — At least nine people, including a child and a woman, were killed in a road accident in India’s southwest state of Maharashtra, a local police official confirmed on Thursday.

    Three other people, including a child, were injured and taken to a nearby government hospital.

    The accident took place on the Jejuri-Morgaon road in Pune district when a private car moving at a very high speed rammed into a stationary car. –0–

    MIL OSI Russia News

  • MIL-OSI Australia: Final tax determination – early stage investor offset scheme

    Source: New places to play in Gungahlin

    Following public consultation in March, we’ve published a final tax determination on the early stage investor tax offset scheme we’ve been warning about for some time.

    The final determination confirms our draft view – that the anti-avoidance provisions in the tax law can apply to this scheme, potentially cancelling any tax benefit obtained by participants.

    What this means for your business

    Our view applies to taxpayers involved in the scheme before, during and after the date of this final determination. If you’ve already been caught up in it, you may be asked to pay back any offset claimed. Penalties and interest may also apply.

    Be wary of this scheme. If it’s offered to you, even by a registered agent, reject it and report it to the ATO.

    If you suspect you’ve inadvertently become involved in an unlawful tax scheme, you should contact us immediately. If you proactively approach us, you may be eligible for a reduction in penalties.

    We’re protecting businesses by taking action against those promoting unlawful schemes. For information on the warning signs, and how to protect yourself, visit Tax schemes.

    MIL OSI News

  • MIL-OSI: SBM Offshore signs an operations and maintenance contract for FPSO GranMorgu with TotalEnergies

    Source: GlobeNewswire (MIL-OSI)

    Amsterdam, June 19, 2025

    SBM Offshore announces that it has signed an operations and maintenance contract with TotalEnergies EP Suriname B.V., an affiliate of TotalEnergies, for the FPSO GranMorgu, as part of the field development project located in Block 58 in Suriname.

    The operations and maintenance contract covers the operation readiness phase before first oil as well as the operations and maintenance services for a minimal period of two years after first oil with extension options.

    This contract reinforces SBM Offshore’s long-term strategic partnership with TotalEnergies and marks a significant milestone as SBM Offshore becomes the first FPSO operator in Suriname. It is a testimony to SBM Offshore’s focus on excellence throughout the entire project’s lifecycle, from the allocation of our eighth Fast4Ward® MPF hull to our extensive experience in asset management supporting TotalEnergies’ operations.

            

    Corporate Profile

    SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy. 
    More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.
    For further information, please visit our website at www.sbmoffshore.com.

    Financial Calendar   Date Year
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    First Quarter 2026 Trading Update   May 7 2026

    For further information, please contact:

    Investor Relations

    Wouter Holties
    Corporate Finance & Investor Relations Manager

    Media Relations

    Giampaolo Arghittu
    Head of External Relations

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    This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Disclaimer

    Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and / or similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impacts, Risks and Opportunities’ section of the 2024 Annual Report.

    Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.

    This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the 2024 Annual Report, available on our website Annual Reports – SBM Offshore.

    Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

    “SBM Offshore®“, the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.

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    The MIL Network

  • MIL-OSI Global: It’s not just ‘chronic fatigue’: ME/CFS is much more than being tired

    Source: The Conversation – Global Perspectives – By Sarah Annesley, Senior Postdoctoral Research Fellow in Cell and Molecular Biology, La Trobe University

    Edwin Tan/Getty

    Myalgic encephalomyelitis / chronic fatigue syndrome (ME/CFS) is as complex as its name is difficult to pronounce. It’s sometimes referred to as simply “chronic fatigue”, but this is just one of its symptoms.

    In fact, ME/CFS is a complex neurological disease, recognised by the World Health Organization, that affects nearly every system in the body.

    The name refers to muscle pain (myalgia), inflammation of the brain (encephalomyelitis), and a profound, disabling fatigue that rest can’t relieve.

    However, the illness’s complexity – and its disproportionate impact on women – means ME/CFS has often been incorrectly labelled as a psychological disorder.

    What is ME/CFS?

    ME/CFS affects people of all ages but is most commonly diagnosed in middle age. It is two to three times more common in women than men.

    While the exact cause is unknown, ME/CFS is commonly triggered by an infection.

    The condition has two core symptoms: a disabling, long-lasting fatigue that rest doesn’t relieve, and a worsening of symptoms after physical or mental exertion.

    This is known as post-exertional malaise. It means even slight exertion can make symptoms much worse, and take much longer than expected to recover.

    This varies between people, but could mean simply having a shower or attending a social event triggers worse symptoms, either immediately or days later.

    These symptoms include pain, sleep issues, cognitive difficulties (such as thinking, memory and decision-making), flu-like symptoms, dizziness, gastrointestinal problems, heart rate fluctuations and many more.

    For some people, symptoms can be managed in a way that allows them to work. For others, the disease is so severe it can leave them housebound or bedridden.

    Symptoms can fluctuate, changing over time and in intensity, making ME/CFS a particularly unpredictable and misunderstood condition.

    Not just ‘in your head’

    A growing body of scientific evidence, however, clearly shows ME/CFS is a biological, not mental, illness.

    Neuroimaging studies have revealed differences in the brain activity and structure of people with ME/CFS, including poor blood flow and lower levels of neurotransmitters (chemical messengers in the nervous system).

    Other research indicates the condition affects how the body produces energy (the metabolism), fights infection (the immune system), delivers oxygen to muscles and tissues, and regulates blood pressure and heart rate (the vascular system).

    Issues with criteria

    To diagnose ME/CFS, a clinician will also exclude other possible causes of fatigue, which can be a lengthy process. A patient needs to meet a set of clinical criteria.

    But one of the major challenges in researching ME/CFS is that the diagnostic criteria clinicians use vary worldwide.

    Some criteria focus solely on fatigue and include people with alternate reasons for fatigue, such as a psychiatric disorder.

    Others are more narrow and may only capture ME/CFS patients with more severe symptoms.

    As a result, it can be very difficult to compare across different studies, as the reasons they include or exclude participants vary so much.

    Changes to the guidelines

    In Australia, doctors often receive little formal education about ME/CFS.

    Most commonly, they follow the Royal Australian College of General Practitioners’ clinical guidelines to diagnose and manage ME/CFS. These are based on the Canadian Consensus Criteria which are considered more stringent than other ME/CFS diagnostic criteria.

    They include post-exertional malaise and fatigue for more than six months as core symptoms.

    However, these guidelines are outdated and rely heavily on controversial studies that assumed the primary cause of ME/CFS was “deconditioning” – a loss of physical strength due to a fear or avoidance of exercise.

    These guidelines recommend ME/CFS should be treated with cognitive behavioural therapy – a common psychotherapy which focuses on changing unhealthy thoughts and behaviours – and graded exercise therapy, which gradually introduces more demanding physical activity.

    While cognitive behaviour therapy can be effective for some people managing ME/CFS, it’s important not to frame this condition primarily as a psychological issue.

    Graded exercise therapy can encourage people to push beyond their “energy envelope”, which means they do more than their body can manage. This can trigger post-exertional malaise and a worsening of symptoms.

    In June 2024, the Australian government announced A$1.1 million towards developing new clinical guidelines for diagnosing and managing ME/CFS.

    Leading organisations have scrapped the recommendation of graded exercise therapy in the United States (in 2015) and the United Kingdom (in 2021). Hopefully Australia will follow suit.

    What can people with ME/CFS do?

    While we wait for updated clinical guidelines, “pacing” – or working within your energy envelope – has shown some success in managing symptoms. This means monitoring and limiting how much energy you expend.

    Some evidence also suggests people who rest in the early stages of their initial illness often experience better long-term outcomes with ME/CFS.

    This is especially relevant after the COVID pandemic and with the emergence of long COVID. Studies indicate more than half of those affected meet stringent clinical criteria for ME/CFS.

    In times of acute illness we should resist the temptation to push through. Choosing to rest may be a crucial step in preventing a condition that is much more debilitating than the original infection.

    Sarah Annesley receives funding from The Judith Jane Mason & Harold Stannett Williams Memorial Foundation and ME Research UK (SCIO charity number SCO36942).

    ref. It’s not just ‘chronic fatigue’: ME/CFS is much more than being tired – https://theconversation.com/its-not-just-chronic-fatigue-me-cfs-is-much-more-than-being-tired-258803

    MIL OSI – Global Reports

  • MIL-OSI Global: It’s not just ‘chronic fatigue’: ME/CFS is much more than being tired

    Source: The Conversation – Global Perspectives – By Sarah Annesley, Senior Postdoctoral Research Fellow in Cell and Molecular Biology, La Trobe University

    Edwin Tan/Getty

    Myalgic encephalomyelitis / chronic fatigue syndrome (ME/CFS) is as complex as its name is difficult to pronounce. It’s sometimes referred to as simply “chronic fatigue”, but this is just one of its symptoms.

    In fact, ME/CFS is a complex neurological disease, recognised by the World Health Organization, that affects nearly every system in the body.

    The name refers to muscle pain (myalgia), inflammation of the brain (encephalomyelitis), and a profound, disabling fatigue that rest can’t relieve.

    However, the illness’s complexity – and its disproportionate impact on women – means ME/CFS has often been incorrectly labelled as a psychological disorder.

    What is ME/CFS?

    ME/CFS affects people of all ages but is most commonly diagnosed in middle age. It is two to three times more common in women than men.

    While the exact cause is unknown, ME/CFS is commonly triggered by an infection.

    The condition has two core symptoms: a disabling, long-lasting fatigue that rest doesn’t relieve, and a worsening of symptoms after physical or mental exertion.

    This is known as post-exertional malaise. It means even slight exertion can make symptoms much worse, and take much longer than expected to recover.

    This varies between people, but could mean simply having a shower or attending a social event triggers worse symptoms, either immediately or days later.

    These symptoms include pain, sleep issues, cognitive difficulties (such as thinking, memory and decision-making), flu-like symptoms, dizziness, gastrointestinal problems, heart rate fluctuations and many more.

    For some people, symptoms can be managed in a way that allows them to work. For others, the disease is so severe it can leave them housebound or bedridden.

    Symptoms can fluctuate, changing over time and in intensity, making ME/CFS a particularly unpredictable and misunderstood condition.

    Not just ‘in your head’

    A growing body of scientific evidence, however, clearly shows ME/CFS is a biological, not mental, illness.

    Neuroimaging studies have revealed differences in the brain activity and structure of people with ME/CFS, including poor blood flow and lower levels of neurotransmitters (chemical messengers in the nervous system).

    Other research indicates the condition affects how the body produces energy (the metabolism), fights infection (the immune system), delivers oxygen to muscles and tissues, and regulates blood pressure and heart rate (the vascular system).

    Issues with criteria

    To diagnose ME/CFS, a clinician will also exclude other possible causes of fatigue, which can be a lengthy process. A patient needs to meet a set of clinical criteria.

    But one of the major challenges in researching ME/CFS is that the diagnostic criteria clinicians use vary worldwide.

    Some criteria focus solely on fatigue and include people with alternate reasons for fatigue, such as a psychiatric disorder.

    Others are more narrow and may only capture ME/CFS patients with more severe symptoms.

    As a result, it can be very difficult to compare across different studies, as the reasons they include or exclude participants vary so much.

    Changes to the guidelines

    In Australia, doctors often receive little formal education about ME/CFS.

    Most commonly, they follow the Royal Australian College of General Practitioners’ clinical guidelines to diagnose and manage ME/CFS. These are based on the Canadian Consensus Criteria which are considered more stringent than other ME/CFS diagnostic criteria.

    They include post-exertional malaise and fatigue for more than six months as core symptoms.

    However, these guidelines are outdated and rely heavily on controversial studies that assumed the primary cause of ME/CFS was “deconditioning” – a loss of physical strength due to a fear or avoidance of exercise.

    These guidelines recommend ME/CFS should be treated with cognitive behavioural therapy – a common psychotherapy which focuses on changing unhealthy thoughts and behaviours – and graded exercise therapy, which gradually introduces more demanding physical activity.

    While cognitive behaviour therapy can be effective for some people managing ME/CFS, it’s important not to frame this condition primarily as a psychological issue.

    Graded exercise therapy can encourage people to push beyond their “energy envelope”, which means they do more than their body can manage. This can trigger post-exertional malaise and a worsening of symptoms.

    In June 2024, the Australian government announced A$1.1 million towards developing new clinical guidelines for diagnosing and managing ME/CFS.

    Leading organisations have scrapped the recommendation of graded exercise therapy in the United States (in 2015) and the United Kingdom (in 2021). Hopefully Australia will follow suit.

    What can people with ME/CFS do?

    While we wait for updated clinical guidelines, “pacing” – or working within your energy envelope – has shown some success in managing symptoms. This means monitoring and limiting how much energy you expend.

    Some evidence also suggests people who rest in the early stages of their initial illness often experience better long-term outcomes with ME/CFS.

    This is especially relevant after the COVID pandemic and with the emergence of long COVID. Studies indicate more than half of those affected meet stringent clinical criteria for ME/CFS.

    In times of acute illness we should resist the temptation to push through. Choosing to rest may be a crucial step in preventing a condition that is much more debilitating than the original infection.

    Sarah Annesley receives funding from The Judith Jane Mason & Harold Stannett Williams Memorial Foundation and ME Research UK (SCIO charity number SCO36942).

    ref. It’s not just ‘chronic fatigue’: ME/CFS is much more than being tired – https://theconversation.com/its-not-just-chronic-fatigue-me-cfs-is-much-more-than-being-tired-258803

    MIL OSI – Global Reports