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Category: Eurozone

  • MIL-OSI Security: NATO’s ‘eyes in the sky’ obtain air-to-air refuelling certification

    Source: NATO

    NATO’s Airborne Warning and Control System (AWACS) E-3A fleet, and its Multinational Multi-Role Tanker Transport A330 (MRTT) aircraft have demonstrated their ability to perform air-to-air refuelling. In July 2025, after successful test flights, the necessary airworthiness certification for mid-air fuel transfer procedures was obtained. As NATO strengthens its capabilities, this increases the Alliance’s strategic flexibility, interoperability and operational reach.

    Validating the technical compatibility and operational readiness of Boeing’s and Airbus’ aircraft systems enables future rapid deployments and sustained aerial surveillance missions. The linkage of AWACS and MRTT represents another example of cooperation among Allies, and European Allies stepping up, demonstrating transatlantic unity and resolve. NATO’s AWACS fleet is managed by the NATO Airborne Early Warning and Control Force (NAEW&CF), based in Geilenkirchen, Germany. The MRTT Fleet, primarily based out of Eindhoven, the Netherlands, is owned by NATO and managed by the NATO Support and Procurement Agency (NSPA). The Royal Netherlands Air Force (RNLAF) Flight Test Centre, the Multinational MRTT Unit (MMU), European Air Transport Command (EATC) and the Air Refueling Certification Agency (ARCA) provided support during the certification process.

    Following the historic decisions made by leaders at the NATO Summit in The Hague, Allies will continue to future-proof NATO’s ability to guard our skies and maintain vigilance wherever it is needed, meet the new ambitious capability targets and keep our one billion people safe. 

    MIL Security OSI –

    August 5, 2025
  • MIL-OSI Africa: Charting a mine-free future: The United Nations Support Mission in Libya (UNSMIL) and Italy convene Libya’s first Mine Action Support Group

    Source: APO


    .

    The United Nations Support Mission in Libya and the Government of Italy brought together international partners for the first Libya Mine Action Support Group in Tripoli on Tuesday, which focused on better protecting the people of Libya from mines and unexploded ordnance.

    The meeting aimed to enhance coordination among donor states, facilitate discussion on mine action activities in Libya, and highlight critical funding gaps and priority needs to better coordinate support to the sector.

    “Supporting mine action in Libya is not just about clearance. It is about protection, dignity, and hope,” said Special Representative of the Secretary General, Hanna Tetteh. “What Libyans cannot afford is more contamination, more loss, and more fear. Libya needs stability, not more explosive hazards.”

    Despite relative calm in parts of Libya, mines and unexploded ordnance from sporadic clashes and long-standing contamination continue to endanger civilians. Since 2020, more than 420 casualties have been recorded due to explosive remnants of war. However, these figures do not reflect the full reality, they only represent the confirmed incidents.

    SRSG Tetteh urged the international community to focus on the value of every life impacted. “We must never measure suffering in numbers,” she said. “The life of one child, one farmer, one worker; each life holds equal value. Every step towards safety and recovery matters.”

    The meeting was hosted by the Ambassador of Italy to Libya, Gianluca Alberini, who welcomed participants with a message of solidarity and emphasized the urgency of collective responsibility. “Italy remains a steadfast partner in Libya’s path to safety and stability,” he said. “Our commitment to mine action is rooted in our belief that every life saved, every community cleared, is a step toward peace.”

    The Chief of the Mine Action Programme in Libya, Fatma Zourrig, delivered a presentation on efforts to clear explosive hazards in Libya, strengthen national capacity, and called for sustained support to ensure long-term safety and stability. As of mid-2025, over 438 million square meters remain contaminated. Since 2011, mine action partners have cleared nearly 248 million square meters, while delivering between 2023-mid 2025 more than 13,600 risk education sessions to over 104,000 beneficiaries, including thousands of women and girls.

    Significant institutional progress was also highlighted. The Libya National Mine Action Strategy is currently under development, alongside an ongoing review of Libyan Mine Action Standards. Originally developed with the support of UNMAS in 2015 and adopted and published Libyan Mine Action Centre in 2017, the revised standards will ensure alignment with global best practices.

    The gathering came in support of the Secretary‑General’s global campaign, which upholds humanitarian disarmament, accelerates mine action as an enabler of human rights and sustainable development, and drives forward the vision of a mine-free world.

    Distributed by APO Group on behalf of United Nations Support Mission in Libya (UNSMIL).

    MIL OSI Africa –

    August 5, 2025
  • MIL-OSI Africa: African countries make bold commitments to end preventable deaths of children under five by 2030

    Source: APO

    African countries have made bold pledges to address the continent’s maternal and child mortality crisis, as a challenging health landscape, shrinking resources, climate change and conflict threaten to reverse decades of progress in child survival.

    Nearly five million children (https://apo-opa.co/44TWUFA) die from preventable causes before the age of five every year. Close to 60 per cent of these deaths occur in Africa, many of them caused by infectious diseases such as pneumonia, diarrhea, malaria and meningitis. This is despite the existence of proven interventions such as vaccines, which have saved 154 million lives (https://apo-opa.co/4l6542n) over the past 50 years

    As the 2030 Sustainable Development Goals (SDGs) deadline looms, African governments are now doubling down on their commitments to end preventable deaths of children under five as envisioned by the global goals over the next five years.

    Speaking during the just concluded Innovation and Action for Immunization and Child Survival Forum 2025 (www.ChildHealthForum2025.com), which took place in Maputo, Mozambique, representatives from various African countries joined the co-hosting Governments of Mozambique and Sierra Leone and partners including the Government of Spain, the “la Caixa” Foundation, the Gates Foundation and UNICEF in sharing their commitments to prioritize child survival.

    Addressing participants during the official opening ceremony, H.E Daniel Chapo, President of the Republic of Mozambique, said: “The Convention on the Rights of the Child establishes that all children have the right to survive and grow up healthy. Mozambique has made notable progress in safeguarding these rights, reducing child mortality from 201 to 60 per 1,000 live births between 1997 and 2022. These gains are the result of decades of structural investments in maternal and child health – one of the key pillars of our Government’s Five-Year Plan 2025–2029.”

    Despite such promising progress, Africa is still home to the majority of countries that are off-track to meet the SDGs. Noting this, government representatives and partners called for bold action to strengthen regional leadership; establish robust accountability; address inequities and mobilize sustainable financing.

    “This is a defining moment for Africa; one of the greatest opportunities for resilience and strong African leadership. This forum brought us together not to discuss challenges, but to inspire action and save children’s lives. We have the tools, the science, the vaccines, diagnostics and treatments. What we need now is political commitment, suitable access, timely care and sustained investments across the continuum of care to enable us to accelerate progress toward the future we envision,” Hon. Dr. Austin Demby, Minister of Health, Sierra Leone.

    Stakeholders at the three-day forum also advocated for deeper, more effective multistakeholder collaboration to enhance resourcing of primary health care and integration of child survival services.

    “We are calling on stakeholders to prioritize high-impact, high-return interventions alongside mobilizing resources for child survival to build sustainability and efficiency within health systems. This will translate into significant gains not just for families and communities, but for economies and the continent as a whole,” said Hon. Dr. Ussene Isse, Minister of Health of Mozambique.

    Acknowledging the urgent need to prioritize reaching the most vulnerable and marginalized communities with the full range of maternal health and child survival interventions across primary health care, immunization, nutrition, and disease prevention programs, countries and partners united in a joint Call to Action and commitments to:

    • Strengthen regional leadership: Foster partnerships between national and regional health organizations including the African Union, Africa Centres for Disease Control and Prevention (Africa CDC), West African Health Organization (WAHO), East, Central and Southern Africa Health Community (ECSA-HC), and other stakeholders with capacity to contribute to child survival.
    • Establish robust accountability: Ensure governments, partners, and civil society are held accountable for their child survival commitments at national, regional, and global levels, and report progress regularly.
    • Address inequities: Focus on the most vulnerable children, particularly in Sub-Saharan Africa and South Asia, by removing barriers to care, improving maternal education, and addressing risk factors such as malnutrition, lack of access to safe water, sanitation, and hygiene, and air pollution, especially household.
    • Mobilize sustainable financing: Increase domestic and international funding for child survival, prioritizing cost-effective interventions and life-saving commodities that strengthen health systems, and securing sustainable financing solutions for reaching the most vulnerable groups, including in fragile and conflict affected states. Ensure these resources are flexible, to reduce fragmentation and direct funds where and when they’re needed most.
    • Invest in Primary Health Care (PHC): Increase domestic investment in resilient PHC systems, including at the community level. This includes securing continuum of care, appropriate referral systems, and quality of care at primary and referral level; equipping health facilities with diagnostic tools and essential medicines for pneumonia, malaria, and diarrhea, as well as sustainable energy sources and internet to support diagnostics, therapeutics, and data sharing; strengthening multi-sectoral partnerships, and training health workers to promptly diagnose and treat childhood infections and malnutrition.
    • Invest decisively in prevention, preparedness, and response to public health emergencies, especially cholera, as a strategic priority. This includes strengthening multi-sectoral coordination, domestic financing, WASH infrastructure, critical supplies, community engagement, and humanitarian access. Without such investment, routine health services will remain vulnerable to repeated and severe disruptions.
    • Accelerate vaccine coverage: Achieve and sustain >90% coverage of life-saving vaccines, including pneumococcal conjugate vaccine (PCV), diphtheria, tetanus, and pertussis (DTP), measles, rotavirus, malaria, meningitis, and typhoid vaccines, prioritizing zero-dose children and integrating vaccine delivery with nutrition and other high-impact child health services—with partnerships facilitating cross-sectoral collaboration—to reach the most vulnerable.
    • Integrate the delivery of child survival services to improve access, acceptability, and cost-effectiveness: Explore opportunities to deliver child survival interventions and innovations through existing community-based platforms, and identify where continuous care can occur across maternal, newborn and child health care provisions.
    • Enhance surveillance and innovation: Leverage data from initiatives like the Child Health and Mortality Prevention Surveillance (CHAMPS) Network to anticipate and respond to epidemiological trends, inform targeted interventions and accelerate the development and deployment of new tools.

    “We have a shared responsibility to ensure that every child has a chance to live and thrive. As we make these promises to Africa’s children, we must—governments, partners and civil society— hold each other accountable for these child survival commitments at national, regional, and global levels, report progress regularly, and act decisively to close gaps in child survival so that no child dies from a preventable infectious disease,” said Theo Sowa, Chairperson of the Forum.

    For the detailed Call to Action and 13 Country Commitments, click here (https://apo-opa.co/44VOOfD).

    Distributed by APO Group on behalf of Innovation and Action for Immunization and Child Survival Forum 2025.

    For interview requests, please contact:
    For Mozambique-based media:
    maider.mavie@ins.gov.mz

    For regional and international media:
    wgaitho@globalhealthstrategies.com and wkariuki@globalhealthstrategies.com

    About the Innovation and Action for Immunization and Child Survival Forum 2025:
    The Innovation and Action for Immunization and Child Survival Forum 2025 brought together stakeholders across selected countries in sub-Saharan Africa and other regions including senior health ministry officials, development agencies, donors, academia, civil society, and the private sector. It focused on new and underutilized tools to deliver progress on child survival, more effective infectious disease risk mitigation and surveillance strategies, more efficient models of service delivery, the need for robust prioritization exercises including for routine immunization systems and new vaccine introductions, and innovative child survival financing options.

    The forum was co-hosted by the Governments of Mozambique and Sierra Leone, and partners including the Government of Spain, the ”la Caixa” Foundation, the Gates Foundation and UNICEF.

    For more information on the forum, visit: www.ChildHealthForum2025.com

    Media files

    .

    MIL OSI Africa –

    August 5, 2025
  • MIL-OSI United Kingdom: Entrepreneurs across the borough called to write themselves into Northern Ireland’s business success story

    Source: Northern Ireland City of Armagh

    Lord Mayor, Alderman Stephen Moutray with representatives from all 11 councils across Northern Ireland at the launch of the Go Succeed: Ultimate Pitch competition.

    Go Succeed: Ultimate Pitch returns for a second year

    Entrepreneurs from across the Armagh City, Banbridge, and Craigavon Borough are being invited to write the next chapter of their business story, as Go Succeed’s Ultimate Pitch launched at the literary home of one of Ireland’s most celebrated storytellers, Seamus Heaney.

    Go Succeed: The Ultimate Pitch is returning for a second year, providing entrepreneurs with the opportunity to win up to £6,000 in investment for their business idea.

    The competition, first launched in 2024 by the government-backed enterprise support service, is open to individuals, businesses, and social enterprises of all shapes and sizes and in every sector.

    The local heat will take place on Friday 10th October with entrants making the ‘ultimate pitch’ to an esteemed panel of expert judges.

    The winner will progress to a region-wide final, joined by heat winners across all 11 councils in Northern Ireland, with an overall winner announced at a special event in Seamus Heaney HomePlace in Bellaghy.

    Last year’s local winner was Joe Garvey of Richmount Health Foods who secured a spot in the final after pitching their idea of converting waste from the local apple processing industry into a health food to a panel of judges from across the local business and civic community.

    Alderman Stephen Moutray, Lord Mayor of Armagh City, Banbridge, and Craigavon Borough, said:

    “At Armagh City, Banbridge and Craigavon Borough Council, we are committed to building and maintaining an entrepreneurial ecosystem that encourages and supports entrepreneurs from all sectors at any stage of their business journey.

    “Last year’s Ultimate Pitch competition had an invaluable impact on the local community – it motivated, inspired, and pushed our local entrepreneurs to take their business idea to the next level. The confidence, networking, and pitching skills which each individual gained are essential skills for every entrepreneur, and on top of that – it was great fun too!

    “Whether you are just starting out or already have an established business that is planning to launch a new product or service, we would love to hear from you.”

    In addition to an overall winner who will receive the Go Succeed Ultimate Pitch Award, individual prizes will include the Go Succeed Impact Award for the best social enterprise, the Go Succeed Inclusive Entrepreneurship Award, and the Go Succeed Rising Star Award for the most inspiring 16–25-year-old entrepreneur.

    Meanwhile, members of the public will have the opportunity to vote for their favourite finalist to win the People’s Choice Award.

    Entrants have until 18th August to apply to the competition, with local heats being held within council areas throughout the autumn. Applicants will also have the opportunity to attend masterclasses on how to make the ultimate pitch ahead of their regional heats.

    The panel of judges will be drawn from across Northern Ireland’s business and civic communities, with the final taking place on Wednesday 19th November, during Global Entrepreneurship Week.

    Go Succeed is funded by the UK Government and delivered by Northern Ireland’s 11 councils. The service supports entrepreneurs, new starts and existing businesses with easy-to-access advice and support – including mentoring, masterclasses, peer networks, access to grant funding and business planning – at every stage of their growth journey.

    To find out more about Go Succeed: The Ultimate Pitch, view the full terms and conditions, and apply, visit: www.go-succeed.com/TheUltimatePitch.

    MIL OSI United Kingdom –

    August 5, 2025
  • MIL-OSI United Kingdom: Visit Armagh launches new “Head to Armagh… and surprise yourself” campaign

    Source: Northern Ireland City of Armagh

    Visit Armagh is proud to unveil its newest destination marketing campaign, “Head to Armagh… and Surprise Yourself”, a playful celebration of a place where myth meets wonder, and history walks hand in hand with imagination.

    The campaign introduces a cast of five larger-than-life characters – affectionately known as the ‘Big Heads’ – who are stepping out of the pages of Armagh’s legendary past and into the present to invite visitors into one of Ireland’s most storied regions. These bold personalities, each one rooted in Armagh’s mythological, ecclesiastical, and cultural heritage include:

    • Cu Chulainn: Ulster’s greatest warrior, trained at Emain Macha (Navan Fort), whose youthful bravery became legend.
    • St Patrick: The spiritual heart of Ireland, whose legacy lives on in the twin cathedrals that bear his name.
    • Queen Macha: The fierce and wise ruler of Ulster, whose name lives on in the very name of the city, Ard Macha.
    • Brian Boru: High King of Ireland, who chose Armagh as his final resting place, recognising its sacred significance.
    • Archbishop Robinson: The visionary who imagined a city of stars, books, and culture – and built it.

    In a cinematic campaign video, the ‘Big Heads’ explore some of Armagh and beyond most iconic attractions, from the ancient Navan Fort to the award-winning Long Meadow Cider Orchards, the Game of Thrones Studio Tour, Dan Winter’s Cottage, and the Armagh City Hotel. The result is a vibrant, tongue-in-cheek journey through a place that’s full of surprises.

    The campaign will roll out in Northern Ireland and Republic of Ireland across cinema, video-on-demand, digital, press, and outdoor platforms, with a series of character reels introducing each legend in their own unique style. These short films set the tone for a summer of storytelling, exploration, and unexpected encounters.

    But the real star of the show is Armagh itself. From sacred cathedrals to flavourful cider tastings, ancient forts to charming Georgian streets, Armagh is a place where every corner holds a story. Visitors can walk in the footsteps of saints, feast on local flavours, roam scenic trails, and enjoy family-friendly fun at attractions. And when the day is done, there’s always a warm welcome waiting in one of the region’s many charming places to stay.

    The campaign aims to boost domestic tourism across the region throughout 2025 and beyond, with a particular focus on encouraging year-round visitation. Seasonal content will spotlight different experiences, from autumn harvests to winter stargazing, ensuring Armagh remains top of mind no matter the time of year.

    Lord Mayor of Armagh City, Banbridge and Craigavon Borough Council, Alderman Stephen Moutray commented:

    “This campaign is a significant opportunity to position Armagh as a distinctive and compelling visitor destination. It not only promotes tourism, but inspires both residents and visitors to engage with the rich heritage, culture, and experiences that shape Armagh’s unique character.  From history and hospitality to family-friendly attractions, Armagh has lots to offer — and we are confident this campaign highlights that in a powerful and meaningful way.”

    The campaign is already generating buzz, with the ‘Big Heads’ making appearances at events and attractions throughout the summer. Visitors are encouraged to follow their journey and share their own Armagh adventures using the hashtag #SurpriseYourselfArmagh.

    MIL OSI United Kingdom –

    August 5, 2025
  • MIL-OSI Submissions: Flames to floods: how Europe’s devastating wildfires are fuelling its next climate crisis

    Source: The Conversation – UK – By Ioanna Stamataki, Senior Lecturer in Hydraulics and Water Engineering, University of Greenwich

    In recent years, I have all too often found myself passing over an active wildfire when flying from London to my family home in Greece during the summer months. The sky glows an eerie, apocalyptic red, and the scent of smoke fills the cabin. Silence falls as we become unwilling witnesses to a tragic spectacle.

    Now wildfires are again raging across the Mediterranean. But the flames themselves are only part of the story. As wildfires become more intense and frequent, they’re setting off a dangerous chain reaction – one that also includes a rising risk of devastating floods.

    Author’s photo from a plane landing in Athens last summer.
    Ioanna Stamataki

    In January 2024, Nasa reported that climate change is intensifying wildfire conditions, noting that the frequency of the most extreme wildfires had more than doubled over the past two decades. While some of this is driven by natural weather variability, human-induced warming is clearly playing a major role. Decades of rising temperatures combined with longer and more severe droughts have created ideal conditions for wildfires to ignite and spread.

    This year, another brutal Mediterranean wildfire season is unfolding right before our eyes, with numerous active wildfire fronts across the region. As of July 22 2025, 237,153 hectares have burned in the EU – an increase of nearly 78% from the same period last year. The number of fires rose by about 45%, and CO₂ emissions increased by 23% compared to 2024. These are terrifying statistics.

    Climate phenomena are closely interconnected

    The fires themselves are bad enough. But they’re also closely connected to other climate-related extremes, including floods.

    Natural hazards often trigger chain reactions, turning one disaster into many. In the case of floods, wildfires play a big role both through weather patterns and how the land responds to rain.

    On the weather side, higher temperatures lead to more extreme rainfall, as warmer air can hold more moisture and fuels stronger storms. Intense wildfires can sometimes get so hot they generate their own weather systems, like pyrocumulus clouds – towering storm clouds formed by heat, smoke and water vapour. These clouds can spark sudden, localised storms during or shortly after the fire.

    The damage doesn’t end when the flames die down. Satellite data shows that burned land can remain up to 10°C hotter for nearly a year, due to lost vegetation and damaged soil.

    As the world warms, the atmosphere is able to hold about 7% more moisture for every extra degree. Recent temperatures of 40°C or more in Greece suggest a capacity for more downpours and more flooding.

    Greece is getting hotter and hotter (Each stripe represents one year, with blue indicating cooler and red indicating warmer than the 1961-2010 average).
    Ed Hawkins / Show Your Stripes (Data: Berkeley Earth & ERA5-Land), CC BY-SA

    Wildfires also make the land itself more vulnerable to flooding. Burnt areas respond much faster to rain, as there is less vegetation to slow down the water. Wildfires also change the soil structure, often making it water-repellent. This means more water runs off the surface, erosion increases, and it takes less rain to trigger a flood.

    Under these conditions, a storm expected once every ten years can cause the sort of catastrophic flooding expected only every 100 to 200 years. Water moves much faster across scorched landscapes without plants to slow it down. Wildfires also leave behind a lot of debris, which can be swept up by fast-moving floodwaters.

    While EU-wide data on post-wildfire flood risk is still limited, various case studies from southern Europe offer strong evidence of the connection. In Spain’s Ebro River Basin, for example, research found that if emissions remain high and climate policy is limited, wildfires will increase the probability of high flood risk by 10%.

    Nature’s ability to regenerate is nothing short of magical, but recovering from a wildfire takes time. Burnt soil takes years to return to normal and, during that time, the risks of extreme rainfall are higher. Beyond the impact of wildfires on soil and water, it is important not to overlook the devastating loss of plant and animal species or even entire ecosystems, making the natural world less biodiverse and resilient.

    To reduce the frequency and severity of extreme events, we must focus on repairing climate damage. This means moving beyond isolated perspectives and adopting a multi-hazard approach that recognises how disasters are connected.

    Flooding after wildfires is just one example of how one crisis can trigger another. We need to recognise these cascading risks and focus on long-term resilience over short-term fixes.


    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    Ioanna Stamataki currently receives funding from the Leverhulme Trust and the Royal Society for ongoing flood research. Previous research has been supported by the EPSRC and the Newton Fund (via the British Council) for career development and international collaboration.

    – ref. Flames to floods: how Europe’s devastating wildfires are fuelling its next climate crisis – https://theconversation.com/flames-to-floods-how-europes-devastating-wildfires-are-fuelling-its-next-climate-crisis-262204

    MIL OSI –

    August 5, 2025
  • MIL-OSI United Nations: Economic and Social Council Holds Organizational Meeting to Launch 2026 Session

    Source: United Nations MIL OSI b

    2026 Session,

    1st Meeting (AM)

    ECOSOC/7219

    The Economic and Social Council opens its 2026 session today, electing its Bureau and hearing from Li Junhua, Under-Secretary-General for Economic and Social Affairs. 

    Lok Bahadur Thapa of Nepal has been endorsed to serve as the President for the session.  Amar Bendjamaa of Algeria; Paruyr Hovhannisyan of Armenia; Darío Bencosme Castaños of the Dominican Republic; and Héctor Gómez Hernández of Spain have been nominated to serve as the session’s Vice-Presidents.

    The 54-member Council will also adopt its provisional agenda (document E/2026/1) as well as take action on the draft resolution “Working arrangements for the 2026 session of the Economic and Social Council”, (document E/2026/L.1) and decide its seating arrangement for the session.

    …

    For information media. Not an official record.

    MIL OSI United Nations News –

    August 5, 2025
  • MIL-OSI USA: Gov. Kemp Announces 114 Appointments to Boards, Authorities, and Commissions

    Source: US State of Georgia

    Atlanta, GA – Governor Brian P. Kemp today announced 114 appointments and reappointments to various state boards, authorities, and commissions.

    Georgia Composite Medical Board

    Srenni Gangasani and David Retterbush were reappointed.

    Kamesha Harbison is a board-certified obstetrician-gynecologist serving the South Columbus community. She has provided women’s health care in the Chattahoochee Valley for over a decade, delivering comprehensive OB/GYN services and assisting with more than 1,000 births. She has also led community health initiatives, including organizing prenatal education and resource events for expectant mothers. Harbison began her career as a high school biology and chemistry teacher after earning a B.S. and M.Ed. from Xavier University of Louisiana. She later earned her medical degree from the University of Iowa Roy J. and Lucille A. Carver College of Medicine and completed her OB/GYN residency at Mercer University in Macon, Georgia. As an educator, she developed a mentoring program to address adolescent health, hygiene, and goal setting—laying the foundation for her transition into women’s healthcare. She is recognized for her commitment to patient education, community outreach, and improving health outcomes for women across the region.

    State Workforce Development Board

    Bárbara Rivera Holmes was sworn in as the 11th Commissioner of the Georgia Department of Labor and the state’s first Latina constitutional officer on April 4, 2025, by Georgia Gov. Brian Kemp. Holmes’ extensive experience includes appointments by former Gov. Nathan Deal to the Board of Regents of the University System of Georgia, which oversees Georgia’s 26 public colleges and universities, and by former Lt. Gov. Geoff Duncan as co-chair of the Georgia Innovates Task Force, which helped design the state’s technology blueprint. A former journalist, Holmes has earned awards for excellence in journalism from the Georgia Associated Press. She holds degrees in journalism and Spanish from Florida Southern College and studied at Estudio Sampere Internacional in Spain. A native of San Juan, Puerto Rico, Holmes resides in Albany with her husband, David, and their daughter.

    Steve Bradshaw served eight years on the DeKalb County Board of Commissioners. First elected in 2016, he was re-elected in 2020 without opposition. During his tenure, he was twice unanimously elected by his colleagues to serve as Presiding Officer of the Board. He also chaired several key committees, including Finance, Audit and Budget; Public Works and Infrastructure; and County Operations. Prior to public service, Bradshaw spent more than 15 years in the private sector in operations management and business development roles, most recently as business development manager for Delta Global Staffing, a subsidiary of Delta Air Lines. Bradshaw began his professional career as a U.S. Army officer as a tank commander. He served in both domestic and international assignments, including deployment to the Middle East during the First Persian Gulf War. His final military post was as a leadership instructor at the Army Officer Candidate School. He holds a master’s degree in public administration from Georgia State University and later served as an adjunct professor in the university’s Andrew Young School of Policy Studies, teaching both undergraduate and graduate students.

    Hearing Panel of the Judicial Qualifications Commission

    Richard Hyde was reappointed.

    Georgia Board of Examiners of Licensed Dietitians

    Cicely Thomas was reappointed.

    Alison Sturgill is a licensed and registered dietitian with over a decade of clinical experience specializing in oncology nutrition. She currently serves as a clinical dietitian IV at the Emory Proton Therapy Center, where she provides medical nutrition therapy to patients undergoing radiation treatment for various cancers. Previously, she held a similar role at Emory University Hospital, where she led inpatient oncology nutrition care and served as a preceptor and educator for dietetic interns. Sturgill holds both a Master of Science and a Bachelor of Science in Nutrition from Murray State University and is a Certified Specialist in Oncology Nutrition (CSO). Her work has been published in the Journal of Nursing Care Quality, and she remains active in multiple professional organizations, including the Academy of Nutrition and Dietetics.

    Franklin D. Roosevelt Warm Springs Memorial Advisory Committee

    Eric Bentley is retired from the Georgia Department of Natural Resources with over three decades of service to Georgia State Parks and Historic Sites, including a deep and enduring connection to the Little White House State Historic Site. A graduate of the University of Georgia with a degree in forest resources, Bentley began his career at Unicoi State Park before serving in various leadership roles, including park manager at Kolomoki Mounds and Fort Yargo. He was named Manager of the Year in 2009 and later served as Region 3 Manager, where he oversaw operations at the Little White House and F.D. Roosevelt State Park, secured funding, and strengthened partnerships with the Advisory Committee. From 2019 until his retirement in 2022, Bentley served as Assistant Director of State Parks, continuing to advocate for the Little White House and playing a key role in advancing major preservation projects.

    Board of Juvenile Justice

    Lisa Colbert was reappointed.

    State Board of Veterinary Medicine

    Jessica Sewell was reappointed.

    Employee Benefit Plan Council

    Courtney Ware and Christopher Wells were reappointed.

    Angelique McClendon was appointed Commissioner of the Georgia Department of Driver Services (DDS) on May 1, 2025. She joined DDS as General Counsel in 2015 and was later promoted to Assistant Deputy Commissioner of Legal and Regulatory Affairs. Her legal career began in 2005 as an assistant solicitor in DeKalb County, followed by her service as an assistant attorney general for the State of Georgia from 2008 to 2015, where she represented public safety agencies, including DDS.  McClendon has provided legal guidance on major state initiatives, including Georgia’s Digital Driver’s License, and is a recognized expert on identity management, digital credentials, and data privacy. She has held leadership roles with the American Association of Motor Vehicle Administrators (AAMVA), helping shape national policy and best practices in driver’s license administration. She holds a Bachelor of Science in chemistry from Xavier University of Louisiana and a Juris Doctor from Georgia State University College of Law.

    Board of Community Affairs

    Kwanza Hall, Donna Armstrong Lackey, and Charlie Maddox were reappointed.

    State Board of Technical College System of Georgia

    Mike Long, Fran Millar, and Lisa Winton were reappointed.

    North Georgia Mountains Authority

    Jeff Andrews, Randy Dellinger, Patrick Denney, Dan Garcia, and Paul Shailendra were reappointed.

    State Board of Podiatry Examiners

    Rupal Gupta is a board-certified podiatrist with over 20 years of clinical, academic, and administrative experience. She currently practices at Ankle and Foot Centers of America and has held leadership roles in both hospital and professional association settings, including serving as president of the Georgia Podiatric Medical Association and department chief at Emory Johns Creek Hospital. Gupta completed her residency at Jackson North Medical Center, where she received advanced training in surgical and non-surgical foot and ankle care, trauma, and wound management. She holds a Doctorate in podiatric medicine from Kent State University and a bachelor’s degree from Emory University. Dedicated to advancing podiatric medicine and public health, she has been an active advocate for clinical standards and evidence-based policy and continues to serve on various hospital committees and community initiatives.

    Lake Lanier Islands Development Authority

    Daniel Dooley and Lauren Talley were reappointed.

    Georgia Rural Development Council

    Robert “Bob” Ray, Jr. is managing member of Ray Family Farms, LLC, where he and his siblings continue six generations and over 200 years of family farming, now focused on pecan production and pine timber. Before returning full-time to agriculture, Ray served for 15 years as President and CEO of Flint Energies. Ray’s public service includes his tenure as Assistant Secretary of State and Chief Operating Officer under Secretary of State Cathy Cox, where he directed agency operations and intergovernmental affairs. Earlier in his career, he was legislative director for the Georgia Farm Bureau Federation and also worked as a corporate lending officer with NCNB National Bank. He holds a bachelor’s in finance from the University of Georgia’s Terry College of Business. Ray has served in leadership roles with Georgia EMC, Green Power EMC, GRESCO, and Leadership Georgia, and remains active in agricultural and community organizations statewide.

    Georgia Commission on the Holocaust

    Jon Barry is President and Founder of Spectrum Maintenance Services and leads the company’s marketing and growth strategies. His career in commercial real estate spans four decades, including extensive experience in all aspects of brokerage and property management. Initially formed to support Barry’s shopping center management platform, SMS has grown to become Atlanta’s leading full-service property maintenance company. Barry previously served on the Board of Advisors of the Kennesaw State University Entrepreneurship Center, is a member of CEO NetWeavers, and has served as mentor to numerous rising professionals.

    Georgia Ports Authority

    James Allgood, Jr., Leda Chong, and Doug Hertz were reappointed.

    Georgia Student Finance Commission Board of Commissioners

    John Loud, Sarah Hawthorne, Ed Pease, and David Perez were reappointed.

    State Board of Accountancy

    Emily Farrell and Todd Tolbert were reappointed.

    Carlton Hodges is a certified public accountant with more than four decades of experience in public accounting, specializing in tax compliance and audit services. He began his career in 1980 with SRLS, where he advanced to Tax Manager following a merger with Price Waterhouse. His practice focuses on business, individual, fiduciary, and nonprofit tax returns, as well as audit and accounting engagements in sectors such as construction, services, and government-assisted entities. Carlton holds Bachelor of Business Administration degrees in finance and accounting from Armstrong State College. He is a member of both the Georgia Society of CPAs and the American Institute of CPAs, and serves on the board and leadership council of the Georgia Society, where he also chairs the GSCPA Insurance Trust. His civic involvement includes prior service as a Pooler City Councilman, treasurer of the Savannah-Chatham MPC, and leadership roles with the Armstrong Foundation and Rotary Club of Savannah West.

    State Board of Registration for Professional Engineers and Land Surveyors

    Trent Turk was reappointed.

    Board of Commissioners of the Sheriffs’ Retirement Fund of Georgia

    Billy Hancock and Dan Kilgore were reappointed.

    Georgia Sports Hall of Fame Authority

    Bill Shanks and Earl Wright were reappointed.

    Phil Schaefer is an award-winning sportscaster whose career spans more than five decades across basketball, football, baseball, and golf. He was the voice of UGA basketball for 17 years, called Atlanta Hawks games for five seasons, and served as a CBS Radio broadcaster for the NCAA Tournament for 20 years. In football, he spent 16 years as UGA’s color commentator, 10 years as the voice of the Peach Bowl, and 20 years as public address announcer for the Atlanta Falcons. Schaefer also covered the Braves for 39 years and the Masters Tournament for 55 consecutive years, earning the Masters Major Achievement Award in 2010. A three-time Georgia Sportscaster of the Year, Schaefer held leadership roles at WSB Radio and later served as Athletic Coordinator for the DeKalb County School System. He is a member of the Georgia Radio Hall of Fame and the Georgia Sports Hall of Fame, and has received over 40 national and regional journalism awards, including a Peabody. He holds degrees from Ohio State University and Georgia State University and is the author of Sins of a Southern Sportscaster.

    Board of Behavioral Health and Developmental Disabilities

    Deb Bailey, Amanda Owens, Bill Slaughter, Jean Sumner, and Jimmy Thomas were reappointed.

    Georgia Behavior Analyst Licensing Board

    Margaret Molony and Robin Osborne were reappointed.

    Georgia Public Telecommunications Commission

    Greg Garrett and Mary Ellen Imlay were reappointed.

    Stephen Lawson is a principal in Dentons’ Regulatory, Public Policy, and Government Affairs practice in Atlanta, with nearly 15 years of experience in public affairs, communications, and political strategy. He has advised Fortune 500 companies, nonprofits, trade associations, and elected officials on complex issues including policy strategy, crisis management, media relations, and advocacy. Prior to joining Dentons, Lawson was president of Full Focus Communications, a public affairs firm based in Atlanta. He has served in senior advisory roles for high-profile public officials, including Florida Governors Rick Scott and Ron DeSantis, and in Georgia for Lieutenant Governor Burt Jones, Agriculture Commissioner Tyler Harper, Congressman Mike Collins, and Speaker of the House Jon Burns.

    George Levert is a retired venture capitalist with more than two decades of experience in technology investment. He was a Founding Partner of Kinetic Ventures, where he led investments in telecommunications, network automation, and internet technologies. He served on the boards of more than a dozen venture-backed companies, including Metricom, Pathfire, and Proficient Networks. Prior to his career in venture capital, he held roles with Oglethorpe Power Corporation, Accenture, Boeing, and the U.S. Navy Civil Engineer Corps during the Vietnam War. Levert holds a B.S. in electrical engineering from Louisiana Tech University and an M.S. in management from Georgia Tech. He has served on numerous civic and nonprofit boards, including the Georgia Tech Foundation, Catholic Charities of Atlanta, the Atlanta Opera, and the American Red Cross. He is also a former board member of the Smithsonian National Museum of African Art and the Museum of the American Indian. Levert has endowed multiple scholarships and leadership awards and remains active in philanthropic, educational, and faith-based organizations. He and his wife, Dale, live in Atlanta and have two sons and two granddaughters.

    Savannah-Georgia Convention Center Authority

    Bert Brantley, Martin Miller, and Pritpal Singh were reappointed.

    Board of Human Services

    Lisa Hamilton, Scott Johnson, and Jack Williams were reappointed.

    Criminal Justice Coordinating Council

    Nancy Bills, Denise Downer-McKinney, Ron Freeman, Scotty Hancock, and Joe Hood were reappointed.

    Board of Public Health

    James Curran, Lucky Jain, Mitch Rodriguez, Ryan Shin, and T.E. Valliere-White were reappointed.

    Professional Standards Commission

    Angela Byrne has over 11 years of teaching experience in public and private schools. She currently teaches ESOL to K–6 students at Anna K. Davie Elementary in Rome City Schools, where she has served for the past six years. Her previous roles include teaching kindergarten, fourth, and fifth grade. She holds certifications in Elementary Education and Middle Grades Math and Science, with endorsements in ESOL and Online Teaching. She has received the Rome City Schools Central Office Support Employee of the Year and the Anna K. Davie Star Teacher Award. Byrne lives in Rome, Georgia, with her husband, Lewis, and their three children.

    Christy Edwards is an elementary educator with 14 years of experience in the Hall County School System. She currently serves as the Language Lab Teacher at Tadmore Elementary, focusing on data-driven instruction and student performance. She previously taught second, fourth, and fifth grades, as well as Early Intervention Program (EIP) support. She holds a B.S. in early childhood education from the University of North Georgia and an ESOL endorsement from Pioneer RESA. Edwards has served as a Leadership Team member, RTI representative, and professional learning facilitator.

    Zach Miller is a certified elementary educator currently teaching reading, science, and social studies at Roan School in Dalton. He holds a Bachelor of Science in early childhood education from Dalton State College and is certified in Early Childhood Education (P-5), with endorsements in ESOL and K–5 Mathematics. Named Teacher of the Year at Roan School in 2025, Miller focuses on a student-centered approach that integrates project-based learning and relationship-building to drive academic success. He founded the District Elementary Soccer Tournament and mentors students through Soccer for Success. He also leads Roan’s Soccer and Disc Golf Clubs, coordinates the Social Studies Bee, and partners with local nonprofits to support families in need. Miller is active in his church, serving as vice chairman of the deacons at Fellowship Bible Church and leading the soccer portion of Grace Presbyterian Church’s summer sports camp.

    State Rehabilitation Council

    Jo Ellen Hancock is a long-serving advocate and leader in the fields of special education, behavioral health, and community engagement. Since 2005, she has served as the parent mentor for special education with the Cherokee County School District, supporting families and fostering collaboration between schools and parents of students with disabilities. She holds multiple leadership roles across state and local behavioral health organizations, including chair of the Statewide Leadership Council and immediate past chair of the Region 1 Advisory Council for the Georgia Department of Behavioral Health and Developmental Disabilities (DBHDD). She also serves on the Georgia Behavioral Health Planning and Advisory Council and the Behavioral Health Services Coalition. Hancock is a certified peer specialist – parent and currently chairs the Cherokee County Local Interagency Planning Team (LIPT), where she has led efforts to coordinate services for children with complex needs since 2018. She serves on the advisory board for NAMI Georgia and is communications chair for the Holly Springs Optimist Club.

    Charity Roberts assumed the position of State Director (IDEA) for the Office of Federal Programs Division for Exceptional Children on January 1, 2025. She is a quadruple Eagle from Georgia Southern University, obtaining her bachelor’s and master’s degrees in special education. She completed a specialist and doctorate degree in educational leadership. She is certified in multiple fields within general and special education, such as elementary education, reading (P-8), special education preschool, physical and health disabilities, and P-12 special education adaptive and general curriculum. Roberts has over 30 years of experience in special education instruction and leadership in a variety of roles. After serving as a special education teacher, she became a district director of special education. From there, Roberts provided leadership support as a GLRS Director for twelve years before joining the Georgia Department of Education Office of Rural Education and Innovation.

    Board of Community Supervision

    Jimmy Kitchens and Steve Queen were reappointed.

    Judicial Legal Defense Fund Commission

    Christine Hayes serves as Deputy Executive Counsel in the Office of Governor Brian P. Kemp. Prior to joining the Governor’s staff, she was director of governmental affairs for the State Bar of Georgia, where she worked on a variety of legislative issues that affect the judiciary and the legal profession. She also held roles at the Judicial Council/Administrative Office of the Courts, Georgia General Assembly, and as an associate at Fields Howell where she focused on insurance coverage issues and related litigation. Hayes holds a bachelor’s degree in political science from the University of Florida and a law degree from Emory University. She and her husband, Jonathan, live in Atlanta with their two daughters.

    State Board of Long-term Care Facility Administrators

    Timothy Bush and Laura Cayce were reappointed.

    Suzanne Gerhardt serves as Senior Vice President of Health Services at PruittHealth, Inc., where she oversees skilled nursing center operations across four states. With a career in long-term care that began in 1983, she brings decades of hands-on experience in healthcare management, including roles in business operations, social services, admissions, and auditing. Gerhardt became a licensed Nursing Home Administrator in 1997 and has since managed multiple facilities and regional operations. She is known for her focus on regulatory compliance, operational efficiency, and improving patient outcomes. In addition to her leadership at PruittHealth, she has served in various roles with the Georgia Health Care Association, including Chair of the Board and, currently, as immediate past chair.

    Donna Sant is a public policy professional with extensive experience in political organizing, campaign operations, and grassroots leadership. She served as Chairman of the Houston County Republican Party from 2018 to 2024 and has held multiple roles within the Georgia Republican Party, including State Committee Member and County Vice Chair. She has led volunteer efforts, managed election headquarters, coordinated large-scale events, and served as a liaison between voters and candidates. Sant holds a master’s in public policy from Liberty University and a B.F.A. in TV/Film production from Valdosta State College. A graduate of Republican Leadership for Georgia, she is also a recipient of the Ted & Barbara Waddle Award of Excellence. She lives in Elko, Georgia, with her husband. They have three adult children. Sant will serve as the consumer member on the State Board of Long-term Care Facility Administrators.

    Board of Trustees of the Teachers Retirement System of Georgia

    Mary Elizabeth Davis is the Superintendent of Cherokee County Schools, serving 42,000 students. She has spent nearly 20 years in Georgia public education, holding leadership roles in four school districts. Prior to her current role, she served as Superintendent of Henry County Schools for nearly seven years, where she led improvements in operational systems, financial management, and student outcomes. Her previous roles include Chief Academic Officer in Cobb County and Assistant Superintendent for Curriculum and Instruction in Gwinnett County. She began her career as a chemistry teacher and coach in Fairfax County, Virginia. Davis was named one of District Administration’s 100 most influential education leaders in 2024 and is a former finalist for Georgia Superintendent of the Year. She holds a chemistry degree from Messiah College and a Ph.D. in Education Policy from Georgia State University. She lives in Canton, Georgia with her husband and two children.

    Board of Juvenile Justice

    Lisa Colbert was reappointed.

    State Board of Veterinary Medicine

    Jessica Sewell was reappointed.

    Georgia Opioid Settlement Advisory Commission

    Trey Bennett is the general counsel and grants division director for the Georgia Governor’s Office of Planning and Budget. A seasoned attorney and public policy advisor, Bennett has over a decade of legal and governmental experience, including past service as deputy executive counsel to Governor Brian Kemp. He oversees the ethical execution of billions of dollars in federal grant funding, advises on statewide emergency responses, and helps shape key legislation across multiple sectors. Bennett also has substantial courtroom experience, having served as both a criminal prosecutor and a defense attorney in Northeast Georgia. He holds a J.D. from the University of Georgia School of Law and lives in Hoschton, Georgia, with his wife, Katherine, and their four children.

    Council for the Arts- Chair

    Colt Chambers was reappointed.

    Board of Commissioners of the Superior Court Clerks’ Retirement Fund of Georgia

    Timothy Harper, Linda Hays, Daniel Jordan, Michael King, and Rhett Walker were reappointed.

    Georgia Public Service Commission Advisory Committee

    Jeff Jacques is a civil engineering professional with over 35 years of experience in transportation and utility coordination. He began his career with the Georgia Department of Transportation in 1983 as a civil engineer co-op and held various roles over a 20 year tenure, including district utilities engineer and area maintenance engineer. Since 2007, he has served as worksite utility coordination supervisor and utility coordination manager with CWM. Jacques is actively involved in the Georgia Utility Coordination Council, Georgia 811 Excavator Advisory Council, GHCA Utilities Task Force, and the GUCC Legislative Committee. He also served Franklin County as a Republican member of the Board of Commissioners from 2002 to 2018 and as Chairman from 2023 to 2024. A graduate of Emmanuel College and Southern Tech, Jacques resides in Franklin County with his wife, Christy. They have three adult children, and he is a member of Liberty Baptist Church in Carnesville.

    Disability Services Ombudsman Medical Review Group

    George Leach is an Assistant Professor of Emergency Medicine at Emory University School of Medicine and an attending physician at Grady Memorial Hospital. He has over 15 years of clinical and academic experience, with a focus on quality improvement, systems-based practice, and medical education. Leach completed his undergraduate studies at the University of North Carolina and earned his medical degree from Emory University, where he also completed his emergency medicine residency and served as chief resident. His academic contributions include developing a national curriculum for advanced emergency medicine learners and leading peer review process improvements at Grady. He is a member of multiple professional organizations, including the American College of Emergency Physicians and the Society for Academic Emergency Medicine. Dr. Leach has received numerous teaching awards and is actively involved in resident education, mentorship, and committee leadership at Emory and Grady.

    Georgia Environmental Finance Authority

    Jimmy Andrews and Travis Turner were reappointed.

    Georgia Child Support Commission

    Ben Land was reappointed.

    Behavioral Health Reform and Innovation Commission

    Kevin Tanner was reappointed as Chairman.

    Karen Bailey, Melanie Dallas, Jason Downey, Nora Haynes, Miriam Shook, Sarah Vinson, DeJuan White, and Michael Yochelson were reappointed.

    DeAnna Julian serves as Chief Executive Officer of the Frazer Center, a nonprofit providing inclusive early childhood, adult, and behavioral health services for individuals with intellectual and developmental disabilities (IDD). She also serves as President of the Service Providers Association for Developmental Disabilities (SPADD), where she works to strengthen Georgia’s IDD service network through policy engagement and provider collaboration. A former special education teacher, Julian holds certifications in special education, early childhood, and physical education, along with a master’s degree in education and transition services from the University of Kansas. She previously served as Executive Director of The Arc of Southwest Georgia, leading efforts to expand access and advance systemic reform. With more than 20 years of leadership in education and disability services, Julian has been recognized with honors including the Annette Bowling Advocacy Award and Albany’s Top 40 Under 40. She lives in Atlanta with her husband, Steve, and their two adult children.

    Carey Parrott, Sr. is the founder and CEO of Parrott Counseling Services, LLC, with over two decades of experience in addiction and mental health counseling. A licensed clinical social worker, master addictions counselor, certified clinical supervisor, and certified peer specialist for addictive diseases, he provides direct care and specialized services to individuals, families, and justice-involved populations, including re-entry and mandated clients. Parrott is a two-time graduate of the University of Georgia, earning a B.S. in psychology and an M.S.W. He later earned a doctorate in clinical social work leadership from Tulane University. His professional background includes service as caregiver support coordinator at the U.S. Department of Veterans Affairs, where he supported veterans and families navigating the challenges of mental illness and substance use. He has also served as a consultant to the Georgia Department of Behavioral Health and Developmental Disabilities, providing clinical supervision and workforce development for addiction counselors statewide. Parrott began his career working in residential treatment settings and community behavioral health programs. He is recognized for his collaborative, personalized approach and his ongoing commitment to supporting recovery and resilience in the Athens community and beyond.

    Child Advocate Advisory Committee

    Andre Blanchard and Jay Watkins were reappointed.

    Georgia Hotel Motel Tax Performance Review Board

    David Dukes was reappointed. 

    MIL OSI USA News –

    August 5, 2025
  • MIL-OSI United Kingdom: Statement on state threats from Iranian intelligence services: 31 July 2025

    Source: United Kingdom – Executive Government & Departments

    Press release

    Statement on state threats from Iranian intelligence services: 31 July 2025

    Joint statement of Albania, Austria, Belgium, Canada, Czechia, Denmark, Finland, France, Germany, the Netherlands, Spain, Sweden, the UK and the US on state threats from Iranian intelligence services

    Albania, Austria, Belgium, Canada, Czechia, Denmark, Finland, France, Germany, the Netherlands, Spain, Sweden, the UK and the US condemn the growing number of state threats from Iranian intelligence services in our respective territories.

    We are united in our opposition to the attempts of Iranian intelligence services to kill, kidnap, and harass people in Europe and North America in clear violation of our sovereignty.  These Services are increasingly collaborating with international criminal organisations to target journalists, dissidents, Jewish citizens, and current and former officials in Europe and North America.  This is unacceptable.     

    We consider these types of attacks, regardless of the target, as violations of our sovereignty. We are committed to working together to prevent these actions from happening and we call on the Iranian authorities to immediately put an end to such illegal activities in our respective territories.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Email the FCDO Newsdesk (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

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    Published 31 July 2025

    MIL OSI United Kingdom –

    August 5, 2025
  • MIL-OSI Europe: “We support the efforts currently being led by the United States in the region to get an immediate ceasefire”

    Source: France-Diplomatie – Ministry of Foreign Affairs and International Development

    Published on July 31, 2025

    Excerpts from the interview given by M. Jean-Noël Barrot, Minister for Europe and Foreign Affairs, to France 24 (New York, July 29, 2025)

    You consider the two-state solution to be the only way of achieving peace. So you’re confirming Emmanuel Macron’s desire to recognize a Palestinian State. Why do so only now? What’s changed?

    THE MINISTER – Because the two-state solution, which is the only one likely to bring peace and stability to the region, is in mortal danger, and the conditions had to be created for it to become credible again. That’s why around nine months ago we decided, with Saudi Arabia, to undertake an initiative to create momentum leading those involved – the Palestinian Authority and the region’s Arab countries, but also the whole international community – to make commitments. These commitments are crystallizing in New York today with a statement by the participating countries, which is historic and unprecedented in that the Arab countries – the countries of the region, of the Middle East – are, for the first time, condemning Hamas, condemning 7 October [attacks], calling for the disarmament of Hamas, calling for it to be excluded from participating in any way in Palestine’s governance and clearly voicing their intention to have normalized relations with Israel in the future and be part of a regional organization on the lines of ASEAN in Asia or the OSCE in Europe, alongside Israel and the future State of Palestine. This is a decisive step being taken, made possible by President Macron’s decision, among other things.

    And a moment ago, the United Kingdom announced that it’s going to recognize Palestine as well, if Israel doesn’t make certain commitments. Do you welcome this decision by Prime Minister Keir Starmer? Has momentum been created?

    THE MINISTER – I welcome it. Indeed, the United Kingdom has become part of the movement created by France to recognize the State of Palestine. With these crucial decisions announced by France and the UK, with the combined efforts of the whole international community gathered here in New York, we want to counter the cycle of violence and war and reopen the prospect of peace in the Middle East.

    The United States isn’t participating in the conference taking place in New York at the moment. Regarding your initiative to advocate for a two-state solution, it’s denouncing an unproductive, ill-timed initiative resembling a publicity stunt. Donald Trump also reckoned that the statement by President Macron a little earlier, last Thursday, doesn’t carry any weight. What’s your reply to him?

    THE MINISTER – Firstly, we support the efforts currently being led by the United States in the region to get an immediate ceasefire, the release of all Hamas’ hostages and unhindered access to humanitarian assistance. But to secure a ceasefire, we still have to sketch out what happens after the war and the political horizon that goes with it. That’s the goal of this UN conference that France is chairing with Saudi Arabia. And in the document we’ve just adopted, with the countries that were part of it, we’re mapping out a credible prospect that’s going to make a positive contribution to a ceasefire being reached in Gaza. Moreover, these efforts we’ve led, these concessions the various parties have made will, at some point, enable the United States to resume the Abraham Accords process that it began during President Trump’s first term. We hope this time will come. But in the meantime, it was obviously unthinkable to stand by and do nothing. (…)

    You said in New York that the two-state solution is the only possibility, that there’s no alternative. Given the situation on the ground for the moment, the two-state solution, as you’ve said yourself, is virtually dead. Isn’t there an alternative, though: for this Israeli Government gradually to bring the idea of any Palestinian State to a definitive end, annex the West Bank – in short, make “Greater Israel” a reality?

    THE MINISTER – You’re right, the alternative to the two-state solution is a state of permanent war. And what we’re seeing today is the two-state solution being threatened, on the one hand, by supporters of “Greater Israel”, who want to deny Palestinians the right to self-determination, and attacked, on the other, by supporters of Hamas or others, who believe Palestine extends from the River Jordan to the sea. Through the historic decision President Macron took, which the British Prime Minister has just taken and others will take, through the commitments being made in New York by the Arab countries today, we’re agreeing with everyone else, the side of peace against the side of war. We’re reopening the possibility of a peace that will involve the two States living side by side in peace and security, with security for Israel and the right of the Palestinians to have their own State.

    Yesterday, for the first time, two Israeli NGOs used the term genocide to refer to what’s happening in Gaza. Several countries have described what’s happening in the Palestinian enclave in that way. That’s the case with Spain and South Africa in particular. What’s France’s position today?

    THE MINISTER – The French Government has no position to take on the legal description of the facts. That’s up to the international courts. What I can say is that the situation in Gaza is disastrous. Gaza is now a death trap where, as I said yesterday from the United Nations General Assembly rostrum, bodies bear the scars of famine and minds are ravaged by terror. It’s unacceptable that in humanitarian distribution queues, women and children are targeted and shot down in cold blood. It’s outrageous and it must stop. That’s why the meeting which was held in Brussels today – or will be held in a few minutes’ time – is so important. It will lead the European Union to speak out so that the Israeli Government finally hears our expectations: access for humanitarian aid and an end to the militarized aid-distribution system, payment by the Israeli Government of the €2 billion due to the Palestinian Authority, an end to, and the abandonment of, the pernicious settlement plans in the West Bank, and in particular the E1 plan for 3,400 housing units, which would cut the West Bank in two and strike a fatal blow to the prospect of two States and to the emergence of a State of Palestine./.

    MIL OSI Europe News –

    August 5, 2025
  • MIL-Evening Report: As protesters condemn Western media ‘complicity’, Gaza journalists struggle for survival

    Asia Pacific Report

    Protesters demonstrated outside several major US media outlets in Washington this week condemning their coverage of the genocide in Gaza, claiming they were to blame over misinformation and the worsening catastrophe.

    Banging pots and pans to spotlight the starvation crisis, they accused the media of “complicity in genocide”.

    Banners and placards proclaimed “Stop media complicity in genocide” and “US media manufactures consent for Israel’s crimes”, as the protesters demonstrated outside media offices that included NBC News and Fox News.

    But the irony was that while the protests appeared to have been ignored or overlooked by national media in the US – and certainly in New Zealand, they were strongly reported by at least one global news agency, Turkey’s Anadolu Agensi.

    The protests echoed a series of statements by various news media organisations, such as Agence France-Presse concerned about the safety of their journalists from both under fire and the risk of starvation, and media freedom advocacy groups.

    The Doha-based global television news network Al Jazeera, that has been producing arguably the best and most honest news coverage of Gaza and the occupied West Bank – which earned it being banned last year by both Israel and the Palestinian Authority from reporting inside their territory — called for global action to protect Gaza’s journalists.

    It said in a statement that Isael’s forced starvation of the besieged enclave that threatened Gaza’s entire population, including those “risking their lives to shed light on Israel’s atrocities”.

    Death toll passes 60,000
    On Tuesday this week, the world noted a grim milestone in Gaza, with the Health Ministry announcing that the death toll had surpassed 60,000 (this does not include the tens of thousands of people buried under the rubble and missing, presumed dead).

    Put in perspective, that is one in every 36 people in Gaza killed, and more than 90 people on average slaughtered every day.

    Also, 1157 people have been killed near the notorious Israel and US-backed Gaza “Humanitarian” Foundation food depots condemned as “death traps”, while 154 people have died from starvation, 89 of them children with the numbers rising.


    Israel’s genocide – ‘Everyone in Gaza is starving’       Video: Al Jazeera

    An episode of the weekly media watch programme, The Listening Post, took up the theme as well, criticising the failure of many high profile Western news services from adequately reporting the horror of Israel’s devastating and cruel policies.

    “When trying to stave off starvation becomes part of the job. What it means to be a Palestinian journalist in Gaza. The stories they are determined to tell, the incredible risks they are prepared to take,” said host Richard Gizbert when introducing the programme. He wasted no time firing a few caustic shots.

    Metropolitan police on watch for the pro-Palestinian protesters outside Fox News offices in Washington DC this week. Image: AA screenshot APR

    “What is unfolding in Gaza now has the appearance of a final solution, orchestrated by Israel and the United States, Israel’s other ally: The transformation of parts of the Gaza strip into starvation and concentration camps, a place where famine has been turned into a weapon of war,” he said.

    “Reporting on the reality of this genocide can amount to a death sentence. Palestinian journalists can easily identify with the suffering they are documenting since they too are going hungry.

    “They have been targeted because for [Israeli Prime Minister] Benjamin Netanyahu, like other genocidal leaders before him, starving a population is much easier to do when no one is watching.

    An Al Jazeera reporter ducks for cover as bombs hit a building behind her in a live broadcast from Gaza . . . featured in The Listening Post’s starvation report. Image: AA screenshot APR

    Perpetrator ‘left out’
    “Across Western mainstream media, news outlets have been unable to ignore this story of mass starvation in Gaza. But in report after report, they have made a habit of leaving out a key detail – naming the perpetrators of the famine, Israel.

    “The missing actors, the sanitised language, the use of the passive grammatical voice, it is all part of the playbook for far too many international news outlets and that is exactly what the few Palestinian journalists still standing are out to tell the world.”

    Gizbert explained that “journalists in Gaza already have the world’s toughest assignment”:
    “Job one for almost 22 months now has been survival; job two, telling heartbreaking stories; documenting a genocide while under fire.”

    Hossam Shabat reports on his colleague Anas al-Sharif’s experience at Al Shifa hospital and the starvation of babies in Gaza. Image: Instagram/@hossam_shbat

    Like, for example, Al Jazeera Arabic’s Anas al-Sharif who was reporting live from outside Al Shifa medical complex when a woman behind him collapsed at the hospital’s gate.

    Al-Sharif, who had reported on the genocide of his own people for more than 650 days without rest or complaint, through Israeli occupation airstrikes, drone attacks, and countless “scenes resembling hell”, suddenly could not take it anymore.

    He broke down: “People are falling to the ground from the severity of hunger,” al-Sharif said through his tears. “They need one sip of water. They need one loaf of bread.”

    Al-Sharif has also been threatened by the Israeli military, accusing him of being a “Hamas militant”, an accusation strongly denied by Al Jazeera, denouncing what it called Tel Aviv’s “campaign of incitement” against its reporters in the Gaza Strip.

    Discredited for bias
    Many Western mainstream media – including BBC, CNN, Sky, ITN, and Australia’s public broadcaster ABC — have been repeatedly discredited for their “pro-Israel bias” by scores of journalists who have acted as whistleblowers about the actions of their own news organisations.

    According to a Declassified UK report, for example, the journalists working for a range of outlets from across the political spectrum have “painted a consistent picture of the obstacles faced by reporters who want to humanise Palestinians or scrutinise Israeli government narratives”. The US media is also under attack and has been putting up a lame defence.

    Last week, more than 100 aid groups warned of “mass starvation” throughout Gaza — predictably denied by Israeli government in the face of overwhelming evidence — with their staff severely impacted by shortages and serious implications for journalists already being threatened with targeting by the Israeli military.

    Israel faces growing global pressure over the enclave’s dire humanitarian crisis, where more than two million people have endured 22 months of war. UN Security Council member France has led a group of countries announcing that they plan to recognise the Palestinian state at the UN in September, with United Kingdom, Canada, Malta and Finland among those following with the total number now almost 150 of the 193 UN member states.

    A statement with 111 signatories, including Doctors Without Borders (MSF), Save the Children and Oxfam, warned that “our colleagues and those we serve are wasting away”. The groups called for an immediate negotiated ceasefire, the opening of all land crossings and the free flow of aid through UN-led mechanisms.

    Al Jazeera’s Nour Odeh reported from Amman that the Israeli government had accused the UK of supporting the establishment of a “jihadi” state and of derailing efforts to reach a ceasefire.

    “But really,” she said, “the Israeli media, for example, is describing this as a political tsunami, a realisation of how significant the tide is, and how improbable it is to turn it back to countries withholding recognition because Israel said it doesn’t want it.”

    Calling for sanctions
    She also noted how 31 high-profile Israelis, including the former speaker of the Knesset, a former attorney general, and several recipients of Israel’s highest cultural award, were calling on world governments to impose crippling sanctions on Israel to stop the starvation of Palestinians in Gaza and their expulsion

    “This was taboo just a few days ago and has never really been done before, certainly not at this level of prominence of the signatories,” Odeh added.

    “Israel is starving Gazan journalists into silence,” says the CPJ. Image: CPJ screenshot APR

    The New York-based Committee to Protect Journalists (CPJ) added its voice to the appeal by aid agencies to call for an end to Israel’s starvation of journalists and other civilians in Gaza, backing the plea for states to “save lives before there are none left to save.”

    In a statement on its website, the CPJ accused Israel of “starving journalists into silence”.

    “Israel is starving Gazan journalists into silence. They are not just reporters, they are frontline witnesses, abandoned as international media were pulled out and denied entry,” said CPJ regional director Sara Qudah.

    “The world must act now: protect them, feed them, and allow them to recover while other journalists step in to help report. Our response to their courageous 650 plus-days of war reporting cannot simply be to let them starve to death.”

    ‘Bearing witness’ videos
    Also, last week the CPJ launched a “bearing witness” series of videos from Gaza giving voice to the challenges the journalists have been facing. In the first video, Moath al Kahlout described how his cousin had been shot dead while awaiting humanitarian aid.

    As Israel partially eased its 11-week total blockade of Gaza that began in May, CPJ published the testimony of six journalists who described how “starvation, dizziness, brain fog, and sickness” had threatened their ability to report.

    Among highlights cited by the CPJ:
    • On June 20, Al Jazeera correspondent Anas Al Sharif — the journalist cited earlier in this article — posted online: “I am drowning in hunger, trembling in exhaustion, and resisting the fainting that follows me every moment . . .  Gaza is dying. And we die with it.”
    • Sally Thabet, correspondent for Al-Kofiya satellite channel, told CPJ that she fainted consciousness after doing a live broadcast on July 20 because she had not eaten all day. She regained consciousness in Al-Shifa hospital, where doctors gave her an intravenous drip for rehydration and nutrition. In an online video, she described how she and her three daughters were starving.
    • Another Palestinian journalist, Shuruq As’ad said Thabet had been the third journalist to collapse on air from starvation that week, and posted a photograph of Thabet with the drip in her hand.
    • During a live broadcast on July 20, Al-Araby TV correspondent Saleh Al-Natour said: “We have no choice but to write and speak; otherwise, we will all die.”

    Little of this horrendous state of affairs has made it onto the pages of newspapers, websites of the television screens in the New Zealand mainstream media which seems to have a pro-Israel slant and rarely interviews Palestinian journalists or analysts for balance.

    “Stop media complicity in genocide” says the protest banner in Washington DC. Image: AA screenshot APR

    MIL OSI Analysis – EveningReport.nz –

    August 5, 2025
  • MIL-OSI United Kingdom: Jersey resident jailed for importing thousands of Ecstasy tablets via the post31 July 2025 A man has been sentenced in the Royal Court today in relation to the importation of a commercial quantity of Class A drugs in 2023. In April 2023, a parcel was sent via international post from Germany… Read more

    Source: Channel Islands – Jersey

    31 July 2025

    A man has been sentenced in the Royal Court today in relation to the importation of a commercial quantity of Class A drugs in 2023. 

    In April 2023, a parcel was sent via international post from Germany addressed to Michael Veloso at his business address in St Saviour. During a subsequent examination of the parcel by Jersey Customs & Immigration Service, JCIS, Officers, over 5,500 tablets were found in foil packets within the parcel. 

    Closer examination revealed there were 4,628 MDMA or Ecstasy tablets and 925 2C-B tablets. Both are Class A drugs, 2C-B is a synthetic drug similar to MDMA and has similar effects to MDMA. 

    JCIS Officers arrested and interviewed Veloso, he initially denied any involvement or knowledge of the importation. JCIS Officers undertook extensive investigation into the case and Veloso later admitted being knowingly concerned in the importation. 

    The maximum street value of these tablets is £167,000. Veloso was sentenced today to six years in prison. 

    JCIS Senior Manager Luke Goddard said: “This is a very large seizure of Class A drugs by anyone’s standard and had the potential to cause serious harm to users. Diligent work by JCIS Border Officers and their meticulous investigation has resulted in the successful prosecution of the intended recipient who otherwise would have profited from their drug trafficking activity. 

    “This seizure demonstrates the ongoing efforts by JCIS to seize dangerous drugs at the border, convict those responsible and disrupt the syndicates trying to profit from drug trafficking.” 

    Anyone with information on drug smuggling can report it anonymously via 0800 735 5555.​

    MIL OSI United Kingdom –

    August 5, 2025
  • MIL-OSI: Coface SA: Coface confirms its good start to the year and continues its strategic investments. Annualised return on tangible equity at 12.6%

    Source: GlobeNewswire (MIL-OSI)

    Coface confirms its good start to the year and continues its strategic investments. Annualised return on tangible equity at 12.6%

    Paris, 31 July 2025 – 5.35 p.m.

    • Turnover: €937m, up +2.3% at constant FX and perimeter
      • Trade Credit Insurance revenue up +1.7%; client activity up +1.8%
      • Client retention back up at near-record (94.0% vs. 92.8% in H1-24); pricing remained negative
        (-1.6%), in line with historical trends
      • Business Information growing again double-digit (+14.7% at constant FX); Debt Collection up +35.0%; Factoring down slightly by -1.5% due to lower interest rates
    • Net loss ratio at 40.1%, up 5.1 ppts; net combined ratio at 71.3%, up 7.9 ppts
      • Gross loss ratio at 37.8%, up 5.3 ppts year-on-year but improving slightly in Q2-25 relative to the previous quarter, showing good risk control
      • Net cost ratio up 2.8 ppts at 31.2%, reflecting past inflation as well as continued investments
    • Coface continues to strengthen its credit insurance business and is rolling out its data strategy:
      • Strengthening governance with the appointment of Joerg Diewald as Director of Information Services and Partnerships and Thibault Surer as head of a new technology division focused on data, connectivity and product innovation
      • Creation of a new Lloyd’s syndicate allowing Coface to offer AA solutions to its clients
      • Acquisition of Cedar Rose and Novertur International
    • Net income (Group share) at €124.2m, down 12.7% compared with the record set in H1-24. Annualised RoATE1at 12.6%
    • Estimated solvency ratio of 195%2, above the target range (155% – 175%)

    Unless otherwise indicated, changes are expressed by comparison with the results as at 30 June 2024.

    Commenting, Xavier Durand, CEO of Coface, said:
    “Coface generated net income of €62m in Q2-25, down from a record Q2-24. The number of bankruptcies worldwide has continued to rise steadily and is now well above pre-COVID levels. Through constant vigilance and flawless execution, we have contained the increase in the loss experience, with the uncertainties created by the increase in tariffs in the United States having probably yet to fully materialise.
    However, our revenues are growing, both in credit insurance and services. This growth is being driven by our investments, which have brought new business to a record level in insurance and services.
    These deliberate investments strengthen our distribution capabilities, the range of products and services available to our clients, and our risk analysis tools. Since the beginning of the year, we have made two acquisitions in information services, Cedar Rose and Novertur. We have also announced the launch of a Lloyd’s syndicate to offer AA solutions to some of our clients.
    Lastly, our solvency ratio remains high, at 195%.”  

    Key figures at 30 June 2025

    The Board of Directors of COFACE SA examined the consolidated financial statements at 30 June 2025 at its meeting of 31 July 2025. These statements were also previously reviewed by the Audit Committee at its meeting of 30 July 2025. These interim consolidated financial statements have been subject to limited review by the Statutory Auditors. The limited review report is being issued.

    Income statement items in €m H1-24 H1-25 Variation % ex FX*
    Insurance revenue 754.3 760.0 +0.8% +1.7%
    Other revenues 168.5 176.6 +4.9% +4.8%
    REVENUE 922.7 936.6 +1.5% +2.3%
    UNDERWRITING INCOME (LOSS) NET OF REINSURANCE 195.0 153.6 (21.2)% (20.3)%
    Investment income, net of management expenses,excluding finance costs 40.8 26.3 (35.4)% (36.0)%
    Insurance finance expenses (18.1) 6.7 (137.1)% (130.8)%
    CURRENT OPERATING INCOME 217.7 186.6 (14.3)% (14.1)%
    Other operating income and expenses (0.5) (0.6) +21.8% +12.2%
    OPERATING INCOME 217.2 186.0 (14.4)% (14.2)%
    NET INCOME (GROUP SHARE) 142.3 124.2 (12.7)% (12.7)%
             
    Key ratios H1-24 H1-25 Variation
    Loss ratio after reinsurance 35.0% 40.1% 5.1 ppts
    Cost ratio after reinsurance 28.4% 31.2% 2.8 ppts
    COMBINED RATIO AFTER REINSURANCE 63.4% 71.3% 7.9 ppts
             
    Balance sheet items in €m 2024 H1-25 Variation
    Total equity (Group share) 2,193.6 2,098,0 (4.4)%
      H1-24 H1-25    
    Solvency ratio 195%1 195%1 0 ppt

    * Excluding scope effect.
    1This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.

    1.   Revenue

    Coface posted consolidated turnover of €937m in the first half of 2025, up +2.3% at constant FX and perimeter compared with H1-24. On a reported basis (at current FX and perimeter), turnover was up +1.5%.

    Revenues from insurance activities (including Bonding and Single Risk) increased +1.7% at constant FX and perimeter, benefiting from a slight increase in client activity and the return to a record retention level at 94.0%. New business reached €76m, the highest since H1-20, driven by an increase in demand and benefiting from growth investments made by Coface.

    Growth in client activity had a positive impact of +1.8% in H1-25 against a backdrop of extreme political uncertainty, particularly in terms of tariffs, and modest economic growth. The price effect remained negative at -1.6% in H1-25, in line with long-term trends. This decrease is largely explained by a very low past loss experience, offset by today’s return to normal.

    Turnover from non-insurance activities was up +8.2% compared with H1-24. Factoring turnover fell -1.5% in H1-25 and -2.2% in Q2 25 on lower interest rates and weak client activity in Germany and Poland. Information services turnover continued to post double-digit growth, at +14.7%. Debt Collection commissions increased, from a still modest base, by +35% due to the increase in claims to be collected. Fee and commission were up +2.3%.

    Total revenue in €m
    (by invoicing region)
    H1-24 H1-25 Variation % ex FX3
    Northern Europe 185.0 185.2 +0.1% +0.1%
    Western Europe 187.6 191.6 +2.1% +1.0%
    Central and Eastern Europe 87.0 83.9 (3.5)% (3.8)%
    Mediterranean & Africa 276.0 280.2 +1.5% +3.0%
    North America 88.7 87.7 (1.2)% +2.0%
    Latin America 38.2 41.5 +8.6% +17.5%
    Asia-Pacific 60.2 66.5 +10.5% +9.5%
    Total Group 922.7 936.6 +1.5% +2.3%

    In the Northern Europe region, turnover was up +0.1% at constant and current FX. The credit insurance business benefited from robust new business and a high retention rate. Factoring turnover was down -1.6%.

    In Western Europe, turnover rose +1.0% at constant FX (2.1% at current FX) on solid sales performances in services (+27%) and credit insurance, offsetting the loss of a contract with a financial institution.

    In Central and Eastern Europe, turnover was down -3.8% at constant FX (-3.5% at current FX) but improved significantly compared with the previous quarter (-6.9%). Credit insurance was negatively impacted by a non-recurring effect recorded in 2024, as well as the transfer of a major contract to the Asia-Pacific region.

    In the Mediterranean & Africa region, which is driven by Italy and Spain, turnover increased +3.0% at constant FX and +1.5% at current FX, the result of a high retention rate and a more dynamic economy overall.

    In North America, turnover rose +2.0% at constant FX (-1.2% on a reported basis). The region is benefiting from an improvement in new business. Reported figures have been adversely affected by the sharp fall in the US dollar since the beginning of the year.

    In Latin America, turnover was up +17.5% at constant FX and +8.6% at current FX. The region is benefiting from the persistently high level of local inflation, which is benefiting client activity.

    Turnover in the Asia-Pacific region was up +9.5% at constant FX and +10.5% at current FX, driven by a high retention rate, a rebound in client activity, and the transfer of a client from another region.

    2.   Result

    • Combined ratio

    The combined ratio after reinsurance stood at 71.3% in H1-25 (up 7.9 ppts year on year) and 74.0% in Q2-25, reaching a level close to the cycle average.

    (i)  Loss ratio

    The gross loss ratio stood at 37.8%, up 5.3 ppts year-on-year. This increase reflects the return to normal of the loss experience, offset by the reserve releases, which remain at a high level. The number of mid-sized claims increased but remains below long-term trends.

    The Group’s reserving policy remained unchanged. The amount of provisions related to the underwriting year, although discounted, remained in line with the historical average. The rigorous management of past claims enabled the Group to record 41.0 ppts of recoveries.

    The net loss ratio increased to 40.1%, up 5.1 ppts compared with H1-24, but close to the level reached in H1-23 (40.3%), in today’s more difficult economic environment.

    (ii)  Cost ratio

    Coface is pursuing its strict cost management policy while maintaining its investments, in accordance with the Power the Core strategic plan. Costs were up +7.0% in H1-25 at constant FX and perimeter and +6.3% at current FX.

    The cost ratio before reinsurance stood at 34.6% in H1-25, up 2.0 ppts year on year. This increase mainly resulted from cost inflation (0.6 ppt) as well as continued investments (2.3 ppts). Conversely, the improved product mix (information services, debt collection and fee and commission income) had a positive effect of -0.9 ppt. The trend in reinsurance commissions explains the remainder of the variation.

    • Financial income

    Income from financial investments was +€26.3m in the first half of the year. The total includes an FX effect of -€17.0m on financial assets, owing to the sharp fall in the dollar against the euro, as well as a negative impact of the application of IAS 29 (hyperinflation) in Turkey of -€6.7m.

    The portfolio’s current income (i.e. excluding capital gains, depreciation and FX) was €52.1m. The accounting yield4, excluding capital gains and fair value effect, was 1.6% in H1-25. The yield on new investments was 3.7%.

    Insurance finance expenses (IFE) were positive at €6.7m in H1-25. They include a significant FX gain (+€23.1m) on technical liabilities, which reflects the expense recorded on assets and partially on net loss.

    • Operating income and net income

    Operating income totalled €186.0m in H1-25, down 14.4%, approaching the level reached in H1-23.

    The effective tax rate in H1-25 was 25% (vs. 27% in H1-24).

    Overall, net income (Group share) was €124.2m, down 12.7% compared with H1-24, slightly below the result in H1-23 (€128.8m) in a more difficult economic environment.

    3.   Shareholders’ equity

    At 30 June 2025, Group shareholders’ equity was €2,098.0m, down €95.6m or -4.4% (€2,193.6m at 31 December 2024).

    The change is mainly due to positive net income of €124.2m, the dividend payment of -€209m, and the increase in unrealised capital gains (€21.9m).

    The annualised return on average tangible equity (RoATE) was 12.6% at 30 June 2025, down compared with the previous year, in line with the decline in net income.

    The solvency ratio stood at 195%5, stable compared with H1-24. It remains well above the Group’s target range (155%-175%).

    4.   Outlook

    The second quarter of 2025 was marked by the continued increase in tariffs announced by the United States. The US administration’s announcements of sharp increases alternated with deferments of varying duration and the signing of a few bilateral agreements. As things stand today, tariffs on imports from Europe should reach 15%.

    Some tariffs (automotive, metals) have already come into force and have had direct negative consequences on the trade flows of the goods concerned. Conversely, announcements of deferred tariffs triggered advance purchases, bolstering economic activity. Lastly, extreme uncertainty as to the final outcome of the tariff issue have led to a postponement of investments as well as the redirection of Chinese exports, particularly towards markets deemed more stable.

    This highly uncertain environment is impacting global trade and the health of companies in markedly different ways. During the second quarter, Coface downgraded the ratings of 23 sectors and 4 countries. Persistent inflationary pressures are preventing central banks from cutting rates for now. Demand is being supported solely by the maintenance of high public deficits and the continuation of an extremely strong investment cycle to foster the development of AI technology.

    Business failures have increased in 80% of advanced economies and are now at a decade high, 20% to 25% higher than in 2019.

    Coface’s expertise in risk management and services (information services, debt collection) is more relevant than ever in this context of rapid change. The company is resolutely pursuing its investments while they weigh on the cost ratio in the short term. Since the beginning of the year, Coface has announced two acquisitions (Cedar Rose and Novertur) as well as the creation of a Lloyd’s syndicate and a technology division.

    Conference call for financial analysts

    Coface’s H1-2025 results will be discussed with financial analysts during the conference call that will take place on Thursday 31 July at 6.00 p.m. (Paris time). It will be accessible:

    The presentation will be available (in English only) at the following address:
    http://www.coface.com/fr/Investisseurs/Résultats-et-rapports-financiers

    Appendices

    Quarterly results

    Income statement items in €m
    Quarterly figures
    Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25   % % ex. FX*
    Insurance revenue 378.6 375.6 375.9 382.7 382.9 377.1   +0.4% +2.3%
    Other revenues 85.0 83.4 78.0 85.5 90.3 86.3   +3.5% +4.2%
    REVENUE 463.7 459.1 453.8 468.3 473.2 463.4   +0.9% +2.6%
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE
    100.3 94.7 88.8 84.9 85.4 68.2   (27.9)% (25.5)%
    Investment income, net of management expenses, excluding finance costs 17.9 22.8 19.0 31.9 10.4 15.9   (30.3)% (29.5)%
    Insurance finance expenses (11.4) (6.7) (7.3) (17.1) (4.1) 10.8   (262.8)% (249.1)%
    CURRENT OPERATING INCOME 106.8 110.9 100.5 99.7 91.6 95.0   (14.3)% (12.9)%
    Other operating income and expenses (0.1) (0.5) (2.6) (5.5) (0.4) (0.3)   (43.9)% (48.0)%
    OPERATING INCOME 106.8 110.4 97.9 94.2 91.2 94.7   (14.2)% (12.7)%
    NET INCOME (GROUP SHARE) 68.4 73.8 65.4 53.4 62.1 62.1   (15.9)% (14.7)%
    Income tax rate 27.2% 26.8% 25.5% 36.2% 23.0% 26.3%   (0,5) ppt

    Cumulated results

    Income statement items in €m
    Cumulated figures
    Q1-24 H1-24 9M-24 FY-24 Q1-25 H1-25   % % ex. FX*  
    Insurance revenue 378.6 754.3 1,130.2 1,512.9 382.9 760.0   +0.8% +1.7%  
    Other revenues 85.0 168.5 246.4 331.9 90.3 176.6   +4.9% +4.8%  
    TURNOVER 463.7 922.7 1,376.6 1,844.8 473.2 936.6   +1.5% +2.3%  
    UNDERWRITING INCOME (LOSS)
    AFTER REINSURANCE
    100.3 195.0 283.8 368.7 85.4 153.6   (21.2)% (20.3)%  
    Investment income, net of management expenses, excluding finance costs 17.9 40.8 59.8 91.7 10.4 26.3   (35.4)% (36.0)%  
    Insurance finance expenses (11.4) (18.1) (25.4) (42.5) (4.1) 6.7   (137.1)% (130.8)%  
    CURRENT OPERATING INCOME 106.8 217.7 318.2 417.9 91.6 186.6   (14.3)% (14.1)%  
    Other operating income and expenses (0.1) (0.5) (3.1) (8.6) (0.4) (0.6)   +21.8% +12.2%  
    OPERATING INCOME 106.8 217.2 315.1 409.2 91.2 186.0   (14.4)% (14.2)%  
    NET INCOME (GROUP SHARE) 68.4 142.3 207.7 261.1 62.1 124.2   (12.7)% (12.7)%  
    Income tax rate 27.2% 27.0% 26.5% 28.7% 23.0% 24.7%   (2,3) ppt

    * Excluding scope effect.

    CONTACTS

    INVESTOR/ANALYST RELATIONS
    Thomas Jacquet: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina Andriamiadantsoa: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia Gaouaoui: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien Billet: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)
    9M-2025 results: 3 November 2025, after market close

    FINANCIAL INFORMATION
    This press release, as well as all of COFACE SA’s regulated information, can be found on the Group’s website: https://www.coface.com/investors

    For regulated information on Alternative Performance Indicators (APMs), please refer to our Interim Financial Report for H1-2025 and our 2024 Universal Registration Document (see 3.7 “Key financial performance indicators”).

      Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for almost 80 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed +5,200 people and recorded a turnover of ~€1.845 billion.

    www.coface.com

    COFACE SA is listed on Compartment A of Euronext Paris
    ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain statements in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and they may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these statements. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2024 Universal Registration Document filed with AMF on 3 April 2025 under the number D.25-0227 to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts or to provide new information on future events or any other circumstance.


    1 RoATE = Return on average tangible equity.
    2 This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.
    3 Excluding scope effect.
    4 Book yield calculated on the average of the investment portfolio excluding non-consolidated investments.
    5 This estimated solvency ratio is a preliminary calculation made according to Coface’s interpretation of Solvency II regulations and using the Partial Internal Model. The final calculation may differ from this preliminary calculation. The estimated solvency ratio is not audited.

    Attachment

    • 2025 07 31 COFACE SA – PR results H1-2025

    The MIL Network –

    August 5, 2025
  • MIL-OSI: Coface SA: 2025 half-year financial report available

    Source: GlobeNewswire (MIL-OSI)

    2025 half-year financial report available

    Paris, 31 July 2025 – 17.35

    Coface announces today that its half-year financial report for 2025 is now available and was filed with the French financial market authority (Autorité des marchés financiers – AMF).

    This report is also on Coface website in “Investor Relations” section (Investor Resources – Coface Group Financial Reports | Coface).

    Copies are available, free of charge and on request by writing to the Company at 1 place Costes et Bellonte, 92270 Bois-Colombes, France.

    The present press release and the full regulated information concerning COFACE SA are available on the Group’s website Financial press releases & Publication announcements | Coface.

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2025 and our 2024 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

      Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for almost 80 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed +5,200 people and recorded a turnover of ~€1.845 billion.

    www.coface.com

    COFACE SA is listed in Compartment A of Euronext Paris
    ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2024 Universal Registration Document filed with AMF on 5 April 2025 under the number D.25-0227 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

    Attachment

    • 2025 07 31 COFACE SA – PR Interim Financial Report H1-2025

    The MIL Network –

    August 5, 2025
  • MIL-OSI: 2025 second-quarter results Solid performance amid a volatile environment Annual Net Cash Flow objective reaffirmed

    Source: GlobeNewswire (MIL-OSI)

    Paris (France), July 31, 2025

    2025 second-quarter results
    Solid performance amid a volatile environment
    Annual Net Cash Flow objective reaffirmed

    • Segment revenue of $274m in Q2 2025, up +6% year-on-year, fueled by Geoscience (GEO) and Sensing & Monitoring (SMO)
    • Segment adjusted EBITDAs of $107m in Q2 2025 (+14% year-on-year) or 39% margin (c.+270 bps). Profitability increase mostly driven by: 1/ the end of vessel penalties at EDA in January 2025 and 2/ good progress on the restructuring plan at SMO
    • Net Cash Flow generation of $30m in Q2 2025
    • Bond maturity extended to October 2030 after end-March 2025 successful refinancing, $125m available RCF1
    • 2025 financial objectives reaffirmed

    Sophie Zurquiyah, Chair and CEO of Viridien: “Viridien delivered a solid performance in the second quarter of 2025. Despite a volatile environment, the Group demonstrated resilience, driven by its primary focus on offshore markets and on leading oil companies. Combined with ongoing internal performance improvements, this resulted in robust year-on-year growth in both segment revenue and margins. From a cash perspective, Viridien generated a solid $30 m in Net Cash Flow during the quarter, reinforcing our confidence in reaching our full-year target of $100 m. The combination of a healthy Geoscience backlog and expected licensing activity toward year-end supports our confidence in maintaining momentum on our deleveraging path.”

    (in millions of $)2 Q2 2025 Q2 2024 Change (%) H1 2025 H1 2024 Change (%)
    Segment figures            
    Revenue 274 258 +6% 575 532 +8%
    Adjusted EBITDAs 107 94 +14% 250 200 +25%
    IFRS figures            
    Revenue 234 317 -26% 492 566 -13%
    EBITDAs 68 150 -55% 167 230 -27%
    Operating Income 15 52 -72% 71 72 -1%
    Net Income 6 35 -83% -22 32 n.a.
    Net Cash Flow 30 -6 n.a. 10 24 -61%
    Net Debt 997 941 +6% 997 941 +6%

    KEY HIGHLIGHTS PER BUSINESS LINE3

    Data, Digital and Energy Transition (DDE)

    Segment revenue at $181 m in Q2 2025, up +3% year-on-year driven by Geoscience. New business opportunities are emerging in HPC, while low-carbon initiatives are slowing down due to delays in CCUS projects.

    Geoscience (GEO)

    • Revenue at $115 m (+10%)
    • Solid performance mostly driven by work performed in Latin America and Middle East
    • For the past few years, Viridien has seen growing demand for advanced, high-quality, high-end subsurface imaging, especially in the US Gulf, Middle East, North Africa, and South America

    Earth Data (EDA)

    • Revenue at $66 m (-8%), following a strong performance in the first quarter of 2025
    • New OBN projects started in Norway and the US Gulf

    Segment adjusted EBITDAs reached $101 m, up +6% year-on-year, with a margin increase of c.+160 basis points. This performance reflects improving margins in Earth Data, which now fully benefits from the end of the vessel capacity agreement. EDA Cash EBITDA breakeven over the period.

    Sensing and Monitoring (SMO)

    Segment revenue at $93 m in Q2 2025, a solid +14% increase year-on-year. Activity is mostly driven by the Land segment, with strong deliveries of nodal system in South America and cabled systems in the MENA region, in particular. The Marine segment remains subdued. In New Businesses, Infrastructure monitoring is showing double-digit growth, while our Marlin Offshore Logistics solution achieved encouraging initial commercial success, with a contract signed with ONGC.

    Segment adjusted EBITDAs stood at $13 m, more than double last year’s figure, reflecting both revenue growth and the gradual positive impact of ongoing restructuring actions. In margin terms, second-quarter EBITDA reached nearly 13.7%, representing a c.+620 bp improvement year-on-year.

    Segment adjusted Operating income at $7 m vs -$2m in Q2 2024.

    CONSOLIDATED IFRS FIGURES4

    Profit & Loss

    Consolidated IFRS revenue for the second quarter of 2025 came in at $234m, down -26% year-on-year. EBITDAs stood at $68m, down -55%.

    IFRS Net Income reaches $6m, vs $35m in the second quarter of 2024, after accounting for -$53 m of leases and D&A, -$27m net cost of financial debt, +$12m other financial income linked to the partial capitalization of refinancing operation costs and partly offset by forex impacts, and +$6m of deferred tax assets.

    (in millions of $) Q2 2025 Q2 2024 Change (%) H1 2025 H1 2024 Change (%)
    €/$ exchange rate  1.12 1.08     1.08 1.08   
    Revenue 234 317 -26% 492 566 -13%
    EBITDAs 68 150 -55% 167 230 -27%
    Operating income 15 52 -72% 71 72 -1%
    Equity from investment -1 0 n.a. -1 0 n.a.
    Net cost of financial debt -27 -25 +6% -52 -49 +6%
    Other financial income (loss) 12 -1 n.a. -34 -1 n.s.
    Income taxes 6 -8 n.a. -7 -6 +32%
    Net Income (loss) from continuing operations 5 19 -74% -24 16 n.a.
    Net Income (loss) from discontinued operations 1 16 -92% 2 16 -88%
    Consolidated Net Income (loss) 6 35 -83% -22 32 n.a.

    Cash Flow and Net debt

    Net Cash Flow of $10 m generated in the first half of 2025, including $30 m in the second quarter alone. A solid performance in light of the significant pressure on the Group’s working capital, caused by overdue receivables from Mexican National Oil Company PEMEX (c.$50 m as of June 30, 2025) and largely contributing to the negative -$46m change in working capital over the period.

    Also worth noting that Net Cash Flow in the first half of 2024 included a one-off positive inflow of $38 m, related to the settlement of a litigation with ONGC.

    (in millions of $) Q2 2025 Q2 2024 Change (%) H1 2025 H1 2024 Change (%)
    Segment EBITDAs 108 91 +19% 250 196 +28%
    Income Tax Paid -4 -9 -52% -8 -12 -31%
    Change in Working Capital & Provisions 1 -3 n.a. -46 -3 n.s.
    Other Cash Items -1 0 n.a. -1 0 n.a.
    Cash from Operating Activity 103 78 +32% 195 180 +8%
    Total Capex -58 -57 +1% -119 -115 +3%
    Acquisitions and Proceeds of Assets 1 0 n.a. 1 0 n.s.
    Cash from Investing Activity -56 -56 0% -118 -114 +3%
    Paid Cost of Debt -1 -45 -97% -40 -43 -8%
    Lease Repayment -16 -16 +5% -26 -27 -5%
    Cash from Financing Activity -18 -61 -71% -67 -71 -6%
    Discontinued Operations Acquisitions 0 33 -100% 0 30 -100%
    Net Cash Flow 30 -6 n.a. 10 24 -60%

    Bond maturity significantly extended to October 2030 following the successful refinancing at end-March 2025.
    Ample liquidity in place, including a $125m RCF5.

    (in millions of $) June 30, 2025 Dec. 31, 2024 Change (%) June 30, 2024 Change (%)
    Liquidity 262 392 -33% 430 -39%
    Cash 162 302 -46% 340 -52%
    Undrawn RCF 100 90 +11% 90 +11%
    Gross Debt 1,158 1,223 -5% 1,281 -10%
    Bonds 9876 1,049 -6% 1,126 -12%
    Other borrowings 31 31 -1% 32 -3%
    Accrued interests 25 18 +33% 20 +24%
    Lease liabilities 116 125 -7% 103 +12%
    Net Debt 997 921 +8% 941 +6%

    OUTLOOK

    The oil price environment has remained volatile in recent months but consistently above the $60/bbl threshold, generally considered an industry equilibrium level. In this context, Oil & Gas companies have maintained most of their exploration and development commitments, particularly in Viridien’s core segments.

    Assuming no major disruption to the current environment, Viridien reaffirms its confidence in generating around $100m in Net Cash Flow for 2025, supported by:

    • Geoscience growth, driven by industry-leading technology and a strong backlog;
    • Earth Data late sales, expected to benefit from upcoming lease rounds, combined with disciplined new multi-client engagements;
    • Sensing & Monitoring, fueled by broad land activity.

    ***

    Q2 2025 conference call details

    The press release and presentation will be made available on www.viridiengroup.com at 5:45 p.m. (CET).

    An English-language conference call is scheduled today at 6:00 p.m. (CET).

    Participants must register for the conference call by clicking here to receive a dial-in number and PIN code. Participants may also join the live webcast by clicking here.

    A replay of the conference call will be available starting the following day, for a period of 12 months, in audio format on the Company’s website www.viridiengroup.com.

    Status of the statutory auditors’ procedures

    The Board of Directors met on July 31, 2025, and closed the consolidated financial statements as of June 30, 2025. Limited review procedures were completed, and an unqualified opinion has been issued by the statutory auditors.

    Next financial information

    2025 third-quarter results: October 30, 2025 (after market close)

    About Viridien

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resources, digital, energy transition and infrastructure challenges. Viridien employs around 3,200 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).

    Disclaimer

    Certain information included in this press release is not historical data but forward-looking statements. These forward-looking statements are based on current beliefs and assumptions, including, but not limited to, assumptions about current and future business strategies and the environment in which Viridien operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results or performance, or the results or other events, to be materially different from those expressed or implied in such forward-looking statements. These risks and uncertainties include those discussed or identified in Chapter 2 “Risk Management and Internal Control” of the Universal Registration Document dated March 6, 2025, filed with the French Financial Markets Authority (AMF) under number D. 25-0075 and available on the Group’s website (www.viridiengroup.com) and on the AMF website (www.amffrance.org). These forward-looking statements and information are not guarantees of future performance. Forward-looking statements speak only as of the date of this press release. This press release does not contain or constitute an offer of securities or an invitation or inducement to invest in securities in France, the United States, or any other area.

    Investors contact

    VP Investor Relations and Corporate Finance
    Alexandre Leroy
    alexandre.leroy@viridiengroup.com
    +33 6 85 18 44 31

    APPENDICES

    Quarterly statements are unaudited and not subject to any review. Only IFRS condensed interim consolidated financial statements were subject to a review report by statutory auditors.

    Key Segment P&L figures

    (in millions of $) Q2 2025 Q2 2024 Change (%) H1 2025 H1 2024 Change (%)
    €/$ exchange rate  1.12 1.08     1.08 1.08   
    Segment Revenue 274 258 +6% 575 532 +8%
    DDE 181 177 +3% 396 362 +9%
    Geoscience 115 105 +10% 226 193 +17%
    Earth Data 66 72 -8% 170 169 +1%
    SMO 93 82 +14% 180 170 +6%
    Land 57 29 +99% 108 74 +47%
    Marine 21 42 -50% 46 75 -39%
    Other 15 11 +36% 26 21 +20%
    Segment EBITDAs 108 91 +19% 250 196 +28%
    Adjusted Segment EBITDAs 107 94 +14% 250 200 +25%
    DDE 101 96 +6% 238 199 +19%
    SMO 13 6 +108% 27 16 +63%
    Corporate and other -7 -8 -15% -15 -16 -8%
    Segment Operating Income 22 26 -16% 87 53 +63%
    Adjusted Segment Operating Income 21 29 -28% 86 57 +50%
    DDE 21 39 -47% 87 74 +17%
    SMO 7 -2 n.a. 15 0 n.s.
    Corporate and other -7 -8 -16% -16 -17 -6%
    EDA Cash EBITDA 0 10 -100% 39 44 -11%

    Other KPIs

    (in millions of $) H1 2025 H1 2024 Change (%)
    Geoscience Backlog 317 246 +29%
    Total Capex 119 115 +3%
    Earth Data Library Net Book Value7 508  440 +15%

    Definition of Alternative Performance Indicators (API)

    In its communications, Viridien includes Alternative Performance Indicators, the main ones being Segment Revenue, Segment EBITDAs, Adjusted Segment EBITDAs, and EDA Cash EBITDA. Their definitions are set out in the 2024 Universal Registration Document filed with the French Financial Markets Authority (AMF) and are reiterated below:

    • Segment revenue: Segment revenue is prepared in accordance with internal management reporting with Earth Data prefunding revenues recorded based upon percentage of completion.
    • Segment EBITDAs: Segment EBITDAs is defined as earnings before interest, tax, income from equity affiliates, depreciation, amortization net of amortization costs capitalized to Earth Data surveys, and cost of share-based compensation for employees and senior executives. The cost of share-based compensation includes the cost of stock options and allotments of performance shares. Segment EBITDAs is calculated based on internal management reporting, in which prefunding revenue from Earth Data surveys is recognized using the percentage of completion method.
    • Adjusted segment EBITDAs: Adjusted segment EBITDAs is Segment EBITDAs adjusted for non-recurring charges and gains.
    • EDA Cash EBITDA: EDA Cash EBITDA is defined as EDA (Earth Data) adjusted segment EBITDAs less investment in EDA surveys for the period, excluding inactivity compensation fees related to the vessel capacity agreement signed between Viridien and Shearwater. This indicator is used exclusively for the EDA activity.

    Reconciliation of API with the condensed interim consolidated financial statements

    The table below outlines the accounting adjustments made in accordance with IFRS 158 requirements. Over the period, these adjustments primarily relate to major survey projects conducted by Earth Data in the US Gulf and Norway.

      Q2 2025 H1 2025
    (in millions of $) Segment IFRS 15 adjustments IFRS Segment IFRS 15 adjustments IFRS
    Revenue 274 -40 234 575 -83 492
    EBITDAs 108 -40 68 250 -83 167
    Adjustments -1     0    
    Adjusted EBITDAs 107 -40 67 250 -83 167

    Interim Consolidated Statement of Operations

    (In millions of US$, except per share data) H1 2025 H1 2024
    Operating revenues 491.8 565.8
    Other income from ordinary activities 0.1 0.1
    Total income from ordinary activities 492.0 565.9
    Cost of operations (361.0) (424.1)
    Gross profit 131.0 141.8
    Research and development expenses – net (6.8) (9.6)
    Marketing and selling expenses (16.4) (19.0)
    General and administrative expenses (37.7) (38.0)
    Other revenues (expenses) – net 1.0 (3.6)
    Operating Income (loss) 71.2 71.6
    Cost of financial debt – gross (55.2) (55.1)
    Income from cash and cash equivalents 2.9 5.8
    Cost of financial debt – net (52.3) (49.3)
    Other financial income (loss) (34.4) (0.8)
    Income (loss) before income taxes and share of income (loss) from companies accounted for under the equity method (15.4) 21.5
    Income taxes (7.4) (5.6)
    Income (loss) before share of income (loss) from companies accounted for under the equity method (22.8) 15.9
    Net income (loss) from companies accounted for under the equity method (1.0) 0.0
    Net income (loss) from continuing operations (23.8) 15.9
    Net income (loss) from discontinued operations 1.9 16.1
    Consolidated net income (loss) (21.9) 32.0
    Attributable to:    
    Owners of Viridien SA (22.3) 31.6
    Non-controlling interests 0.4 0.4
    Net income (loss) per share9    
    Basic (3.12) 4.43
    Diluted (3.12) 4.41
    Net income (loss) from continuing operations per share8    
    Basic (3.38) 2.17
    Diluted (3.38) 2.16
    Net income (loss) from discontinued operations per share8    
    Basic 0.26 2.25
    Diluted 0.26 2.25

    Interim Consolidated Statement of Financial Position

    (In millions of US$) June 30, 2025 Dec. 31, 2024
    ASSETS    
    Cash and cash equivalents 161.6 301.7
    Trade accounts and notes receivable, net 330.7 339.9
    Inventories and work-in-progress, net 162.1 163.3
    Income tax assets 10.2 22.9
    Other current assets, net 78.8 74.0
    Assets held for sale, net 28.3 24.5
    Total current assets 771.7 926.2
    Deferred tax assets 47.2 43.6
    Other non-current assets, net 9.1 8.9
    Investments and other financial assets, net 24.7 25.7
    Investments in companies under the equity method 5.1 1.1
    Property, plant and equipment, net 205.3 220.6
    Intangible assets, net 589.3 535.4
    Goodwill, net 1,092.8 1,082.8
    Total non-current assets 1,973.5 1,918.1
    TOTAL ASSETS 2,745.2 2,844.3
    LIABILITIES AND EQUITY    
    Financial debt – current portion 63.1 56.9
    Trade accounts and notes payables 113.6 120.9
    Accrued payroll costs 82.5 84.5
    Income taxes payable 12.1 20.4
    Advance billings to customers 20.8 19.2
    Provisions — current portion 17.1 19.7
    Other current financial liabilities 0.0 0.5
    Other current liabilities 218.5 182.5
    Liabilities associated with non-current assets held for sale 2.3 2.4
    Total current liabilities 530.0 507.0
    Deferred tax liabilities 13.2 18.4
    Provisions – non-current portion 33.1 28.8
    Financial debt – non-current portion 1,095.3 1,165.6
    Other non-current financial liabilities 0.0 0.0
    Other non-current liabilities 1.9 1.7
    Total non-current liabilities 1,143.5 1,214.5
    Common stock: 11,201,879 shares authorized and 7,180,449 shares with a nominal value of €1.00 outstanding at June 30, 2025. 8.7 8.7
    Additional paid-in capital 118.7 118.7
    Retained earnings 1,014.7 1,036.5
    Other Reserves (0.9) 55.2
    Treasury shares (20.1) (20.1)
    Cumulative income and expense recognized directly in equity (1.7) (1.1)
    Cumulative translation adjustment (85.0) (113.3)
    Equity attributable to owners of Viridien S.A. 1,034.5 1,084.7
    Non-controlling interests 37.2 38.1
    Total equity 1,071.8 1,122.8
    TOTAL LIABILITIES AND EQUITY 2,745.2 2,844.3

    Interim Consolidated Statement of Cash Flows

    (In millions of US$)   H1 2025 H1 2024
    OPERATING ACTIVITIES      
    Consolidated net income (loss)   (21.9) 32.0
    Less: Net income (loss) from discontinued operations   (1.9) (16.1)
    Net income (loss) from continuing operations   (23.8) 15.9
    Depreciation, amortization and impairment   42.6 47.8
    Earth Data surveys impairment and amortization   59.0 116.3
    Depreciation and amortization capitalized in Earth Data surveys   (7.5) (7.0)
    Variance on provisions   (3.6) (0.3)
    Share-based compensation expenses   1.7 1.8
    Net (gain) loss on disposal of fixed and financial assets   (0.8) 0.1
    Share of (income) loss in companies recognized under equity method   1.0 –
    Other non-cash items   30.0 0.8
    Net cash-flow including net cost of financial debt and income tax   98.5 175.4
    Less: Cost of financial debt   52.3 49.3
    Less: Income tax expense (gain)   7.4 5.6
    Net cash-flow excluding net cost of financial debt and income tax   158.1 230.4
    Income tax paid   (8.3) (12.0)
    Net cash-flow before changes in working capital   149.8 218.4
    Changes in working capital   45.0 (38.2)
    – change in trade accounts and notes receivable   51.0 (17.2)
    – change in inventories and work-in-progress   16.8 11.0
    – change in other current assets   (6.7) 0.9
    – change in trade accounts and notes payable   (3.8) (12.5)
    – change in other current liabilities   (12.3) (20.3)
    Net cash-flow from operating activities   194.8 180.2
           
    INVESTING ACTIVITIES      
    Total capital expenditures (including variation of fixed assets suppliers, excluding Earth Data surveys)   (17.2) (17.8)
    Investment in Earth Data surveys, net cash   (101.6) (97.0)
    Proceeds from disposals of tangible and intangible assets   1.0 0.5
    Dividends received from investments in companies under the equity method   – 0.5
    Variation in other non-current financial assets   2.0 (3.3)
    Net cash-flow from investing activities   (115.7) (117.0)
    FINANCING ACTIVITIES      
    Repayment of long-term debt   (1,074.5) (0.4)
    Total issuance of long-term debt   945.7 –
    Call premium   (21.9) –
    Refinancing transaction costs paid   (3.7)  –
    Lease repayments   (26.1) (27.1)
    Interests paid   (40.4) (43.2)
    Dividends paid and share capital reimbursements:      
    – to owners of Viridien   0 –
    – to non-controlling interests of integrated companies   (1.4) (3.8)
    Net cash-flow from financing activities   (222.4) (74.5)
           
    Effects of exchange rates on cash   3.7 (5.3)
    Net cash flows incurred by discontinued operations   (0.4) 29.6
    Net increase (decrease) in cash and cash equivalents   (140.1) 12.9
    Cash and cash equivalents at beginning of year   301.7 327.0
    Cash and cash equivalents at end of period   161.6 339.9

    1 $125m RCF of which $25m ancillary guarantee facility (used for $12 m) and $100m fully undrawn
    2 Quarterly statements are unaudited and not subject to any review. Only IFRS condensed interim consolidated financial statements were subject to a review report by statutory auditors
    3 Please refer to the “Definitions of Alternative Performance Indicators” in the appendices for explanations of the terms used in this section
    4 The reconciliation of alternative performance indicators to the condensed interim consolidated financial statements is provided in the appendices, along with their definitions
    5 $125m RCF of which $25m ancillary guarantee facility (used for $12 m) and $100m fully undrawn
    6 Including a $66m negative foreign exchange impact compared to December 31, 2024
    7 Post IFRS15 and 16

    8 IFRS 15 requires that Earth Data prefunding revenues be recognized only upon delivery of the final processed data, that is, when the performance obligation is fulfilled. As a result, revenue and margin recognition for ongoing surveys is deferred. Viridien’s segment reporting, however, continues to apply the percentage-of-completion method previously used before the adoption of IFRS 15, for recognizing Earth Data prefunding revenues and associated margins
    9 As a result of the July 31, 2024 reverse share split, the calculation of basic and diluted earnings per shares for June 2024 has been adjusted retrospectively. Number of ordinary shares outstanding has been adjusted to reflect the proportionate change in the number of shares

    Attachment

    • Viridien – Q2 2025 results

    The MIL Network –

    August 5, 2025
  • MIL-OSI: Euronext publishes Q2 2025 results

    Source: GlobeNewswire (MIL-OSI)

    Euronext publishes Q2 2025 results

    Euronext’s diversified business drives all-time record results, supported by organic growth, favourable market conditions and disciplined capital allocation.

    Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 31 July 2025 – Euronext, the leading European capital market infrastructure, today publishes its results for the second quarter of 2025.

    • Q2 2025 revenue and income was up +12.8% to €465.8 million:

    Non-volume-related revenue and income represented 58% of total revenue and income and covered 161% of underlying operating expenses, excluding D&A1:

    • Securities Services revenues grew to €86.2 million (+6.5%), driven by increasing assets under custody, higher settlement activity and double-digit growth in value-added services;
    • Capital Markets and Data Solutions revenue grew to €165.4 million (+12.0%), driven by the continued commercial expansion of Advanced Data Solutions and the strong performance of Euronext Corporate and Investor Solutions and Technology Services, supported by the acquisition of Admincontrol. Like-for-like at constant currencies, revenue grew by +6.5%;
    • Net treasury income grew to €20.0 million (+45.1%), demonstrating the benefits of the Euronext Clearing expansion, high volatility and the internalisation of net treasury income from LCH SA following the derivatives clearing migration in Q3 2024.

    Volume-related revenue was driven by high market volatility in the second quarter:

    • FICC2Markets revenue grew to €87.7 million (+20.1%), driven by another record performance in fixed income trading and clearing and in FX trading;
    • Equity Markets revenue grew to €106.2 million (+9.5%), reflecting a strong quarter in cash equity trading and clearing further boosted by high volatility in the first part of the quarter.
    • Underlying operating expenses excluding D&A were at €168.4 million (+7.9%), in line with Euronext’s 2025 underlying costs guidance. This reflects a step-up in growth investments and the impact of acquisitions, partially offset by a strong cost discipline. Euronext’s underlying operating expense guidance excluding D&A of €670 million excludes Admincontrol, acquired on 13 May 2025.
    • Adjusted EBITDA was €297.3 million (+15.8%) and adjusted EBITDA margin was 63.8% (+1.6pt).
    • Adjusted net income was €204.4 million (+23.8%) and adjusted EPS was €2.02 (+27.0%), supported by received dividends .
    • Reported net income was €183.8 million (+29.7%) and reported EPS was €1.81 (+32.1%).
    • Net debt to adjusted EBITDA3was at 1.8x at the end of June 2025, in line with Euronext’s target range. This ratio reflects the impact of the acquisition of Admincontrol on 13 May 2025 and the dividend payment in May 2025.

    Key figures for the second quarter of 2025:

    in €m, unless stated otherwise Q2 2025 Q2 2024 % var % var l-f-l
    Revenue and income 465.8 412.9 +12.8% +10.5%
    Underlying operational expenses exc. D&A                         (168.4) (156.1) +7.9% +3.9%
    Adjusted EBITDA 297.3 256.8 +15.8% +14.4%
    Underlying EBITDA margin 63.8% 62.2% +1.6pts +2.2pts
    Net income4                          183.8 141.7 +29.7%  
    Adjusted net income4                         204.4 165.2 +23.8%  
    Adjusted EPS (basic, in €) 2.02 1.59 +27.0%  
    Reported EPS (basic, in €) 1.81 1.37 +32.1%  
    • Progress with the delivery of ‘Innovate for Growth 2027’:
      • Euronext has strengthened its development in the Nordics and in the UK with the acquisition of Admincontrol on 13 May 2025. This transaction improves the share of subscription-based revenue and is in line with its ambition to scale up the SaaS offering.
      • Euronext is expanding its footprint in the Nordics and in the power business with the acquisition of Nasdaq Nordic’s power futures business. The final regulatory approval for the acquisition has been granted. Euronext and Nasdaq are now focusing on the upcoming migration of open interest from Nasdaq Clearing to Euronext Clearing in Q1 2026.
      • Euronext partnerships with Euroclear5 and Clearstream6 on tri-party collateral management support the broader expansion of its repo clearing services across Europe. In July 2025, Euronext launched the first phase of a multi-year strategy7 to deliver a fully integrated, pan-European clearing model.
      • On 31 July 2025, Euronext announced the submission of a voluntary share exchange offer to acquire all shares of HELLENIC EXCHANGES-ATHEX STOCK EXCHANGE S.A. (“ATHEX”), in exchange for newly issued Euronext shares, at a fixed conversion rate of 20.000 ATHEX ordinary shares for each new Euronext share8,9. Based on Euronext’s closing price of €142.7 as of 30 July 2025, the proposed Offer values ATHEX at €7.14 per share and the entire issued and to be issued ordinary share capital of ATHEX at approximately €412.8 million on a fully diluted basis. The Board of Directors of ATHEX is unanimously supportive of the Offer to ATHEX shareholders and entered into a cooperation agreement with Euronext.

    Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said:
    “In the second quarter of 2025, Euronext achieved all-time record revenue and income of €465.8 million, driven by organic growth and acquisitions. This is the fifth consecutive quarter of double-digit topline growth. The strong performance reflects the strength of Euronext’s diversified business model, capable of capturing favourable market conditions and of generating non-volume-related revenue growth.

    We have continued to invest in growth, while we maintained a strong cost discipline. Euronext reached an adjusted EBITDA close to €300 million in Q2 2025, marking a significant +15.8% increase compared to Q2 2024. In Q2 2025, we reached record adjusted EPS of €2.02 per share. Our reported EPS grew by +32.1% compared to Q2 2024, to €1.81 per share.

    We continue to foster the integration and competitiveness of European capital markets via strategic initiatives. With a strong footprint in Italian repo, a growing list of government bond coverage, and the majority of key clearing members already connected, Euronext is well positioned to become the clearing house of choice for European repo.

    Europe shows an unprecedented commitment to establish a Savings and Investments Union, and Euronext is a key player in Europe to accelerate the delivery of this ambition. Since the beginning of the year, Euronext has continued to deploy capital to expand across Europe. We have expanded our presence in the Nordics with the acquisition of Admincontrol and will further strengthen our position with the migration of Nasdaq Nordic’s power futures to Euronext Clearing in Q1 2026.

    The contemplated acquisition of ATHEX would expand our integrated model across Europe to deliver the Savings and Investments Union. We are strongly committed to boosting the development and attractivity of Greek markets internationally and generating efficiencies and competitiveness across the Group.”

    Q2 2025 business highlights

    In €m Q2 2025 Q2 2024 % var % var l-f-l
    Revenue and income 465.8 412.9 +12.8% +10.5%
    Securities Services 86.2 80.9 +6.5% +3.9%
    Capital Markets and Data Solutions                           165.4 147.7 +12.0% +6.5%
    FICC Markets 87.7 73.0 +20.1% +20.9%
    Equity Markets 106.2 97.0 +9.5% +9.5%
    Net treasury income 20.0 13.8 +45.1% +45.1%
    Other income 0.3 0.4 -30.4% -31.1%
    • Non-volume-related revenue
      • Securities Services
    In €m Q2 2025 Q2 2024 % var % var l-f-l
    Revenue 86.2 80.9 +6.5% +3.9%
    Custody & Settlement 77.5 70.0 +10.8% +7.8%
    Other Post Trade 8.6 10.9 -21.1% -21.1%

    Revenue from Custody and Settlement in Q2 2025 was at €77.5 million, +10.8% compared to Q2 2024. This strong performance was driven by growing Assets under Custody, dynamic settlement instructions and continued double-digit growth in services, supported by the acquisition of Acupay. At the end of the quarter, Assets under Custody amounted to €7.34 trillion, up +4.5% compared to end of Q2 2024. Over 36.9 million instructions were settled via Euronext Securities during the second quarter of 2025, up +15.0% compared to the second quarter of 2024.

    Other Post Trade revenue, which includes membership fees and other non-volume-related clearing fees, was €8.6 million in Q2 2025. The -21.1% decrease compared to Q2 2024 stems from the internalisation of the net treasury income related to Euronext derivatives flows in September 2024, which are now integrated in the net treasury income line.

    • Capital Markets and Data Solutions
    In €m Q2 2025 Q2 2024 % var % var l-f-l
    Revenue 165.4 147.7 +12.0% +6.5%
    Primary Markets 46.5 45.5 +2.3% +2.5%
    Advanced Data Solutions 65.2 60.6 +7.5% +4.6%
    Corporate and Investor Solutions and Technology Services                             53.7 41.5 +29.2% +13.5%

    Primary Markets revenue was €46.5 million in Q2 2025, an increase of +2.3% compared to Q2 2024. The second quarter recorded slower equity listing activity explained by a volatile environment. Euronext sustained its leading position for equity listing with 6 new listings.

    Advanced Data Solutions revenue was €65.2 million in Q2 2025, up +7.5% compared to Q2 2024. This dynamic performance reflects the contribution of GRSS, strong appetite from retail and growing monetisation of diversified datasets.

    Corporate and Investor Solutions and Technology Services revenue grew by +29.2% in Q2 2025 to €53.7 million. This strong performance reflects the contribution of Admincontrol for half a quarter and double-digit growth of investor solutions and colocation services.

    • Net treasury income

    Net treasury income was at €20.0 million, +45.1% compared to Q2 2024. This reflect the benefit from the Euronext Clearing expansion and the internalisation of treasury income from LCH SA following the completion of the derivatives clearing migration, as well as higher cash collateral posted to the CCP due to the elevated market volatility.

    • Volume-related revenue
      • FICC Markets
    In €m Q2 2025 Q2 2024 % var % var l-f-l
    Revenue 87.7 73.0 +20.1% +20.9%
    Fixed income trading & clearing 51.7 39.2 +31.9% +31.9%
    Commodities trading & clearing 26.7 26.0 +2.7% +3.1%
    FX trading 9.3 7.8 +18.9% +25.2%

    Fixed income trading and clearing revenue reached €51.7 million in Q2 2025, up +31.9% compared to Q2 2024, driven by record fixed income trading activity supported by favourable market conditions.

    Commodities10 trading and clearing revenue reached €26.7 million in Q2 2025, up +2.7% compared to Q2 2024, reflecting record intraday power trading volumes and softer agricultural commodity trading and clearing.

    FX trading revenue was up +18.9%, at €9.3 million in Q2 2025, reflecting record trading volumes in April 2025, which outbalanced the negative currency impact of the USD.

    • Equity Markets
    In €m Q2 2025 Q2 2024 % var % var l-f-l
    Revenue 106.2 97.0 +9.5% +9.5%
    Cash equity trading & clearing 93.4 80.4 +16.2% +16.2%
    Financial derivatives trading & clearing 12.8 16.6 -22.9% -22.9%

    Cash equity trading and clearing revenue11 was €93.4 million in Q2 2025, up +16.2% compared to Q2 2024 driven by exceptional market volatility. Euronext recorded average daily cash trading volumes of €13.4 billion, up +21.2% compared to Q2 2024. Euronext reached solid average revenue capture on cash trading at 0.52 bps for the second quarter of 2025, despite higher volumes and larger average order size compared to Q2 2024. Euronext market share on cash equity trading averaged 63.5% in Q2 2025.

    Financial derivatives trading and clearing revenue was €12.8 million in Q2 2025, -22.9% compared to Q2 2024. This mostly reflects lower volatility and the decrease of the average clearing fees. Following the clearing migration, certain clearing fees are now reported in the line Other Post Trade revenues, and as such not fully comparable with Q2 2024.

    Q2 2025 financial performance

    In €m, unless stated otherwise Q2 2025 Q2 2024 % var % var l-f-l
    Revenues and income 465.8 412.9 +12.8% +10.5%
    Underlying operating expenses excl. D&A                        (168.4) (156.1) +7.9% +3.9%
    Adjusted EBITDA 297.3 256.8 +15.8% +14.4%
    Adjusted EBITDA margin 63.8% 62.2% +1.6pts +2.2pts
    Operating expenses excl. D&A (171.8) (162.9) +5.5% +1.6%
    EBITDA 293.9 249.9 +17.6% +16.2%
    Depreciation & amortisation (48.2) (47.9) +0.5% +1.0%
    Total expenses (220.0) (210.9) +4.3% +1.2%
    Adjusted operating profit 274.7 234.8 +17.0% +15.7%
    Operating profit 245.8 202.0 +21.7%  
    Net financing income / (expense) (5.7) 3.5 N/A  
    Results from equity investments 24.5 1.2 N/A  
    Profit before income tax 264.5 206.7 +28.0%  
    Income tax expense (68.1) (55.7) +22.3%  
    Minority interests (12.6) (9.2) +36.3%  
    Net income 183.8 141.7 +29.7%  
    Adjusted net income 204.4 165.2 +23.8%  
    Adjusted EPS (basic, in €) 2.02 1.59 +27.0%  
    Reported EPS (basic, in €) 1.81 1.37 +32.1%  
    Adjusted EPS (diluted, in€) 2.01 1.59 +26.4%  
    Reported EPS (diluted, in€) 1.81 1.36 +33.1%  
    • Q2 2025 adjusted EBITDA

    Underlying operating expenses excluding D&A1 were at €168.4 million (+7.9%). The increase compared to Q2 2024 reflects investments in growth and the impact of acquisitions performed in 2025, partially offset by cost discipline.
    As a result of a double digit growth in revenue, adjusted EBITDA for the quarter reached €297.3 million, up +15.8% compared to Q2 2024. This represents an adjusted EBITDA margin of 63.8%, up +1.6pts vs. Q2 2024. On a like-for-like basis at constant currencies, adjusted EBITDA grew by +14.4% compared to Q2 2024.
    Q2 2025 non-underlying operating expenses excluding D&A amounted to €3.4 million, mostly related to the integration of recent acquisitions. As a consequence, reported EBITDA was at €293.9 million, up +17.6% compared to Q2 2024.

    • Q2 2025 net income, share of the parent company shareholders

    Depreciation and amortisation accounted for €48.2 million in Q2 2025, +0.5% more than Q2 2024. PPA related to acquired businesses accounted for €19.1 million. Adjusted operating profit was €274.7 million, up +17.0% compared to Q2 2024. Euronext reported a net financing expense of €5.7 million in Q2 2025, compared to €3.5 million net financing income in Q2 2024. The variation reflects decreasing interest rates, lower cash position after the redemption of the €500 million bond and the recognition of non-cash interest expense related to the convertible bonds.

    Income tax for Q2 2025 was €68.1 million. This translated into an effective tax rate of 25.7% for the quarter, compared to 27.0% in Q2 2024. The tax rate was positively impacted by the tax-exempt €24.5 million dividend received by Euroclear. Share of non-controlling interests amounted to €12.6 million, correlated with the strong performance of MTS and Nord Pool.

    As a result, the reported net income, share of the parent company shareholders, increased by +29.7%for Q2 2025 compared to Q2 2024, to €183.8 million. This represents a reported EPS of €1.81 basic and €1.81 diluted. Adjusted net income, share of the parent company shareholders, was up +23.8% to €204.4 million. Adjusted EPS (basic) was €2.02 and adjusted EPS (diluted) was €2.01. The increase in EPS reflects higher profit and a lower number of outstanding shares over the second quarter of 2025 compared to Q2 2024. The weighted number of shares used over the second quarter of 2025 was 101,374,346 for the basic calculation and 102,130,793 for the diluted calculation, compared to 103,653,544 and 103,986,292 respectively over the second quarter of 2024. The difference in share count is due to the share repurchase programme executed by Euronext and the consideration of the convertible bonds under IAS 33.

    In Q2 2025, Euronext reported a net cash flow from operating activities of €135.0 million, compared to €111.5 million in Q2 2024, reflecting higher profit before tax and higher income tax paid in Q2 2025. Excluding the impact of working capital from Euronext Clearing and Nord Pool CCP activities, net cash flow from operating activities accounted for 52.3% of EBITDA in Q2 2025.

    Q2 2025 corporate highlights since publication of the first quarter 2025 results on 14 May 2025

    • Euronext received regulatory approval for the acquisition of Nasdaq Nordic power futures

    On 4 June 2025, Euronext received regulatory approval for the extension of Euronext Clearing to power derivatives under Article 15 of EMIR. With this final approval, all regulatory approvals for the acquisition of Nasdaq Nordic’s power futures business have been granted. Euronext and Nasdaq continue to focus on the upcoming migration of open interest from Nasdaq Clearing to Euronext Clearing in Q1 202612.

    • Partnership with Clearstream on collateral management

    On 16 June 2025, Euronext and Clearstream announced the start of a new partnership13 to advance the continued development of Euronext Clearing’s collateral management services across repo and other asset classes.
    As part of this initiative, Clearstream will serve as a triparty agent (TPA) for Euronext Clearing, facilitating advanced collateral management capabilities. Clients will benefit from automated, flexible and operationally streamlined solutions that enhance margin and balance sheet optimisation. Clearstream will act as an independent third party, handling the collateral selection, valuation and substitution to ensure compliance with eligibility criteria while minimising operational complexities. In addition, Clearstream will manage settlement and custody services, provide robust regulatory reporting, and support liquidity and risk management objectives. The go-live of this enhanced service offering is scheduled for November 2025.

    • Euronext successfully launched its inaugural convertible bonds issuance

    On 22 May 2025, Euronext announced the success of its offering of senior unsecured bonds due 2032 convertible into new shares and/or exchangeable for existing shares of the Company (“OCEANEs”) (the “Bonds”), by way of a placement to qualified investors only, for a nominal amount of €425 million (the “Offering”)14. The Bonds were issued with a denomination of €100,000 each (the “Principal Amount”), and will be convertible and/or exchangeable into new and/or existing shares of Euronext (the “Shares”) and will pay a fixed coupon at a rate of 1.50% per annum, payable semi-annually in arrear on 30 May and 30 November of each year (or on the following business day if this date is not a business day), and for the first time on 30 November 2025. The initial conversion price of the Bonds is set at €191.1654. Unless previously converted, exchanged, redeemed or purchased and cancelled, the Bonds will be redeemed at par on 30 May 2032 (or on the following business day if such date is not a business day) (the “Maturity Date”).

    • Euronext successfully migrated Italian markets to a harmonised clearing framework

    On 30 June 2025, Euronext completed the migration of the Italian derivatives and cash equity markets to its Core Clearing System. Euronext is now clearing all its financial derivatives, commodities and cash equities markets through a single, streamlined, harmonised clearing gateway. This important milestones delivers to Euronext Clearing clients further material operational and risk management efficiencies, which optimise their total cost of trading on Euronext markets.

    Corporate highlights since 1 July 2025

    • Euronext launched the first phase of its strategic multi-year Repo expansion initiative15

    On 8 July 2025, Euronext announced the launch of its initiative to expand access, improve collateral usage and position Euronext as a leading Central Counterparty (CCP) for European repo markets. As a cornerstone of Euronext’s strategic plan announced in November 2024, the Repo initiative sets in motion Euronext’s vision to build a fully integrated, pan-European post-trade infrastructure. Euronext now offers repo clearing for Spanish, Portuguese and Irish government bonds, alongside its established Italian offering. For the first time, international firms can join the platform with seamless onboarding and scalable settlement operations.

    • Euronext to launch voluntary share exchange offer for all ATHEX shares

    On 31 July 2025, Euronext announced the submission of a voluntary share exchange offer to acquire all shares of HELLENIC EXCHANGES-ATHEX STOCK EXCHANGE S.A. (“ATHEX”), in exchange for newly issued Euronext shares, at a fixed conversion rate of 20.000 ATHEX ordinary shares for each new Euronext share16,17. Based on Euronext’s closing price of €142.7 as of 30 July 2025, the proposed Offer values ATHEX at €7.14 per share and the entire issued and to be issued ordinary share capital of ATHEX at approximately €412.8 million on a fully diluted basis. The Board of Directors of ATHEX is unanimously supportive of the Offer to ATHEX shareholders and entered into a cooperation agreement with Euronext.

    The combination between Euronext and ATHEX is in line with Euronext’s ambition to integrate European capital markets. The combined Group will foster harmonisation of European capital markets on a unified technology. Greek markets would benefit from increased visibility towards global investors as part of the leading single liquidity pool in Europe.

    Euronext expects the combination to deliver €12 million annual run-rate cash synergies by the end of 2028, with implementation costs related to these synergies expected at €25 million. The Offer is in line with Euronext’s investment criteria of ROCE > WACC in year 3 to 5 after the acquisition and is expected to be accretive for Euronext shareholders after delivery of synergies in year 1.

    The Offer is expected to be open for acceptance, subject to regulatory approvals, from Q4 2025. The transaction is expected to be completed by the end of 2025.

    Results Webcast

    A webcast will be held on Friday, 1 August 2025, at 09:00 CEST (Paris time) / 08:O0 BST (London time):

    For the live webcast go to: Webcast

    The webcast will be available for replay after the call at the webcast link and on the Euronext Investor Relations webpage.

    Contacts

    ANALYSTS & INVESTORS – ir@euronext.com

    Investor Relations        Aurélie Cohen                 

            Judith Stein        +33 6 15 23 91 97

    MEDIA – mediateam@euronext.com 

    Europe        Aurélie Cohen         +33 1 70 48 24 45 

            Andrea Monzani         +39 02 72 42 62 13 

    Belgium        Marianne Aalders         +32 26 20 15 01                 

    France, Corporate        Flavio Bornancin-Tomasella        +33 1 70 48 24 45                 

    Ireland        Catalina Augspach        +39 02 72 42 62 13                 

    Italy         Ester Russom         +39 02 72 42 67 56                 

    The Netherlands        Marianne Aalders         +31 20 721 41 33                 

    Norway         Cathrine Lorvik Segerlund        +47 41 69 59 10                 

    Portugal         Sandra Machado        +351 91 777 68 97                

    About Euronext 
    Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway and Portugal.
    As of June 2025, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal host nearly 1,800 listed issuers with €6.3 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.
    For the latest news, go to euronext.com or follow us on X and LinkedIn.

    Disclaimer

    This press release is for information purposes only: it is not a recommendation to engage in investment activities and is provided “as is”, without representation or warranty of any kind. The figures in this document have not been audited or reviewed by our external auditor. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext. This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is available at www.euronext.com/terms-use.

    © 2025, Euronext N.V. – All rights reserved. 

    The Euronext Group processes your personal data in order to provide you with information about Euronext (the “Purpose”). With regard to the processing of this personal data, Euronext will comply with its obligations under Regulation (EU) 2016/679 of the European Parliament and Council of 27 April 2016 (General Data Protection Regulation, “GDPR”), and any applicable national laws, rules and regulations implementing the GDPR, as provided in its privacy statement available at: www.euronext.com/privacy-policy. In accordance with the applicable legislation you have rights with regard to the processing of your personal data: for more information on your rights, please refer to: www.euronext.com/data_subjects_rights_request_information. To make a request regarding the processing of your data or to unsubscribe from this press release service, please use our data subject request form at connect2.euronext.com/form/data-subjects-rights-request or email our Data Protection Officer at dpo@euronext.com.

    Appendix

    The figures in this Appendix have not been audited or reviewed by our external auditor.

    Non-IFRS financial measures

    For comparative purposes, the company provides unaudited non-IFRS measures including:

    • Operational expenses excluding depreciation and amortisation, underlying operational expenses excluding depreciation and amortisation;
    • EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin.

    Non-IFRS measures are defined as follows:

    • Operational expenses excluding depreciation and amortisation as the total of salary and employee benefits, and other operational expenses;
    • Underlying operational expenses excluding depreciation and amortisation as the total of salary and employee benefits, and other operational expenses, excluding non-recurring costs;
    • Underlying revenue and income as the total of revenue and income, excluding non-recurring revenue and income;
    • Non-underlying items as items of revenue, income and expense that are material by their size and/or that are infrequent and unusual by their nature or incidence are not considered to be recurring in the normal course of business and are classified as non-underlying items on the face of the income statement within their relevant category in order to provide further understanding of the ongoing sustainable performance of the Group. These items can include:
      • integration or double run costs of significant projects, restructuring costs and costs related to acquisitions that change the perimeter of the Group;
      • one-off finance costs, gains or losses on sale of subsidiaries and impairments of investments:
      • amortisation and impairment of intangible assets which are recognised as a result of acquisitions and mostly comprising customer relationships, brand names and software that were identified during purchase price allocation (PPA);
      • tax related to non-underlying items.
    • Adjusted operating profit as the operating profit adjusted for any non-underlying revenue and income and non-underlying costs, including PPA of acquired businesses;
    • EBITDA as the operating profit before depreciation and amortisation;
    • Adjusted EBITDA as the adjusted operating profit before depreciation and amortisation adjusted for any non-underlying operational expenses excluding depreciation and amortisation;
    • EBITDA margin as EBITDA divided by total revenue and income;
    • Adjusted EBITDA margin as adjusted EBITDA, divided by total revenue and income;
    • Adjusted net income, as the net income, share of the parent company shareholders, adjusted for any non-underlying items and related tax impact.

    Non-IFRS financial measures are not meant to be considered in isolation or as a substitute for comparable IFRS measures and should be read only in conjunction with the consolidated financial statements.

    Consolidated income statement

      Q2 2025 Q2 2024
    In € million, unless stated otherwise Underlying Non-
    underlying
    Reported Underlying Non-
    underlying
    Reported
    Revenues 465.8 – 465.8 412.9 – 412.9
    Securities Services 86.2 – 86.2 80.9 – 80.9
    Custody and Settlement 77.5 – 77.5 70.0 – 70.0
    Other Post Trade 8.6 – 8.6 10.9 – 10.9
    Capital Markets and Data Solutions 165.4 – 165.4 147.7 – 147.7
    Primary Markets 46.5 – 46.5 45.5 – 45.5
    Advanced Data Solutions 65.2 – 65.2 60.6 – 60.6
    Corporate and Investor Solutions
    and Technology Services
    53.7 – 53.7 41.5 – 41.5
    FICC markets 87.7 – 87.7 73.0 – 73.0
    Fixed income trading and clearing 51.7 – 51.7 39.2 – 39.2
    Commodities trading and clearing 26.7 – 26.7 26.0 – 26.0
    FX trading 9.3 – 9.3 7.8 – 7.8
    Equity markets 106.2 – 106.2 97.0 – 97.0
    Cash equity trading and clearing 93.4 – 93.4 80.4 – 80.4
    Financial derivatives trading and clearing 12.8 – 12.8 16.6 – 16.6
    Net treasury income 20.0 – 20.0 13.8 – 13.8
    Other income 0.3 – 0.3 0.4 – 0.4
    Operating expenses excl. D&A (168.4) (3.4) (171.8) (156.1) (6.8) (162.9)
    Salaries and employee benefits (92.2) (1.1) (93.3) (79.9) (0.4) (80.2)
    Other operational expenses, of which (76.3) (2.2) (78.5) (76.2) (6.5) (82.7)
    System & Communication (26.5) (0.2) (26.7) (24.7) (1.1) (25.9)
    Professional services (17.7) (2.2) (19.9) (13.6) (4.4) (17.9)
    Clearing expense (0.2) – (0.2) (9.9) – (9.9)
    Accommodation (4.5) 0.1 (4.4) (4.1) (0.3) (4.4)
    Other operational expenses (27.3) – (27.4) (23.9) (0.7) (24.6)
    EBITDA 297.3 (3.4) 293.9 256.8 (6.8) 249.9
    EBITDA margin 63.8%   63.1% 62.2%   60.5%
    Depreciation & amortisation (22.6) (25.6) (48.2) (21.9) (26.0) (47.9)
    Total expenses (191.0) (29.0) (220.0) (178.0) (32.8) (210.9)
    Operating profit 274.7 (29.0) 245.8 234.8 (32.8) 202.0
    Net financing income/(expense) (5.7) – (5.7) 3.5 – 3.5
    Results from equity investment 24.5 – 24.5 0.1 1.2 1.2
    Profit before income tax 293.5 (29.0) 264.5 238.4 (31.7) 206.7
    Income tax expense (75.6) 7.5 (68.1) (64.0) 8.3 (55.7)
    Non-controlling interests (13.4) 0.8 (12.6) (9.2) (0.1) (9.2)
    Net income
    share of the parent company shareholders
    204.4 (20.6) 183.8 165.2 (23.4) 141.7
    EPS (basic, in €) 2.02   1.81 1.59   1.37
    EPS (diluted, in €) 2.01   1.81 1.59   1.36

    Adjusted EPS definition

     In € million, unless stated otherwise Q2 2025 Q2 2024
    Net income reported                183.8                 141.7
    EPS reported (in €) 1.81 1.37
    Adjustments for non-underlying items included in:    
    Operating expenses exc. D&A (3.4) (6.8)
    Depreciation and amortisation (25.6) (26.0)
    Results from equity investments                   –                  1.2
    Non-controlling interest 0.8 (0.1)
    Tax related to adjustments                       7.5                       8.3
    Adjusted net income                 204.4                  165.2
    Adjusted EPS (in €)                     2.02                     1.59

    Consolidated comprehensive income statement

    In € million Q2 2025 Q2 2024
    Profit for the period 196.4 151.0
         
    Other comprehensive income    
    Items that may be reclassified to profit or loss:    
    – Exchange differences on translation of foreign operations    (53.6) 15.2
    – Income tax impact on exchange differences on translation of foreign operations    7.4 (1.9)
    – Gains and losses on cash flow hedges    (2.2) –
    – Change in value of debt investments at fair value through other comprehensive income –    0.3
    – Income tax impact on change in value of debt investments at fair value through
    other comprehensive income
       –    (0.1)
         
    Items that will not be reclassified to profit or loss:    
    – Change in value of equity investments at fair value through other comprehensive income    46.1 6.5
    – Income tax impact on change in value of equity investments at fair value through
    other comprehensive income
    (0.4) (1.0)
    – Remeasurements of post-employment benefit obligations    1.9 1.9
    – Income tax impact on remeasurements of post-employment benefit obligations – (0.2)
    Other comprehensive income for the period, net of tax (0.8) 20.8
    Total comprehensive income for the period 195.6 171.8
         
    Comprehensive income attributable to:    
    – Owners of the parent 184.0 162.5
    – Non-controlling interests 11.6 9.3

    Consolidated statement of financial position

    In € million 30 June 2025 31 March 2025
    Non-current assets    
    Property, plant and equipment 103.0 107.4
    Right-of-use assets 85.1 88.2
    Goodwill and other intangible assets18 6,586.7 6,096.5
    Deferred income tax assets 24.0 29.1
    Investments in associates and joint ventures 0.8 0.8
    Financial assets at fair value through OCI 403.1 357.0
    Other non-current assets 3.4 3.4
    Total non-current assets 7,206.2 6,682.4
         
    Current assets    
    Trade and other receivables 463.8 574.2
    Income tax receivable 32.2 17.5
    Derivative financial instruments 0.1 2.2
    CCP clearing business assets 348,903.3 341,647.6
    Other current financial assets 59.3 59.5
    Cash & cash equivalents 919.3 1,642.3
    Total current assets 350,378.1 343,943.3
    Total assets 357,584.2 350,625.7
         
    Equity    
    Shareholders’ equity 4,153.5 4,224.6
    Non-controlling interests 144.3 161.7
    Total equity 4,297.9 4,386.3
         
    Non-current liabilities    
    Borrowings 2,311.7 2,537.5
    Lease liabilities 69.8 71.7
    Other non-current financial liabilities 3.5 3.5
    Deferred income tax liabilities 488.4 495.1
    Post-employment benefits 21.2 23.0
    Contract liabilities 53.3 54.2
    Other provisions 7.1 7.0
    Total non-current liabilities 2,955.0 3,192.1
    Current liabilities    
    Borrowings 602.7 524.0
    Lease liabilities 22.2 21.9
    Other current financial liabilities1 103.5 –
    CCP clearing business liabilities 348,949.3 341,695.3
    Income tax payable 68.8 99.3
    Trade and other payables 422.5 526.5
    Contract liabilities 158.5 176.2
    Other provisions 3.7 4.1
    Total current liabilities      350,331.3 343,047.3
    Total equity and liabilities     357,584.2 350,625.7

    Consolidated statement of cash flows

    In € million Q2 2025 Q2 2024
    Profit before tax 264.5 206.7
    Adjustments for:    
    – Depreciation and amortisation 48.2 47.9
               – Share-based payments 5.6 2.9
    -Results from equity investments (24.5) –
    -Gain on sale of associate – (1.2)
    -Share of profit from associates and joint ventures – (0.1)
               – Changes in working capital (43.8) (67.9)
    Cash flow from operating activities 250.0 188.4
    Income tax paid (115.1) (76.9)
    Net cash flows from operating activities 135.0 111.5
         
    Cash flow from investing activities    
    Business combinations, net of cash acquired                                     (400.4) (38.5)
    Proceeds from sale of associate –                              0.9
    Purchase of current financial assets (0.4) (0.6)
    Redemption of current financial assets (0.2) 17.7
    Purchase of property, plant and equipment                                    (3.2)                               (5.0)
    Purchase of intangible assets (28.1) (15.8)
    Interest received                                     7.3 11.3
    Asset acquisitions (27.7) –
    Proceeds from sale of property, plant, equipment and intangible assets – (0.1)
    Dividends received from equity investments 24.5 –
    Dividends received from associates and joint ventures                                         – 0.1
    Net cash flow from investing activities (428.2) (30.0)
         
    Cash flow from financing activities    
    Proceeds from borrowings, net of transaction fees 846.2 –
    Repayment of borrowings, net of transaction fees (925.0) –
    Interest paid (29.2) (28.2)
    Payment of lease liabilities (3.4) (4.2)
    Transactions in own shares 0.0 (10.0)
    Withholding tax paid at vesting of shares (1.9) (1.2)
    Dividends paid to the company’s shareholders (293.4) (257.3)
    Dividends paid to non-controlling interests (18.2) (18.9)
    Net cash flow from financing activities (424.9) (319.6)
         
    Total cash flow over the period (718.1) (238.1)
    Cash and cash equivalents – Beginning of period 1,642.3 1,609.6
    Non-cash exchange gains/(losses) on cash and cash equivalents (4.9) 4.6
    Cash and cash equivalents – End of period 919.3 1,376.0

    Business indicators for the second quarter of 2025

    • Securities Services
    Custody and Settlement Q2 2025 Q2 2024 % var
    Number of settlement instructions over the period 36,946,162 32,114,794 +15.0%
    Assets under Custody (in €bn), end of period 7,344 7,030 +4.5%
    • Capital Markets
    Primary Markets Q2 2025 Q2 2024 % var
    Number of issuers on Equities – Euronext 1,766 1,862 -5.0%
    Number of issuers on Equities – SMEs 1,371 1,469 -7.0%
    Number of listed Funds 2,179 2,347 -7.0%
    Number of listed ETFs 4,322 3,885 +11.0%
    Number of listed Bonds 57,367 58,147 -1.0%
    Capital raised on primary and secondary market (in €m)      
    Number of new equity listings 13 17  
    Money raised – New equity listings (including over-allotment) 155 3,403 -95.0%
    Money raised – Follow-ons on equities 4,457 2,362 +89.0%
    Money raised – Bonds 316,817 304,686 +4.0%
    • FICC Markets
    Fixed income trading and clearing Q2 2025 Q2 2024 % var
    Number of trading days 62 63 –
    Transaction value (in €m, single counted)      
    MTS      
    ADV MTS Cash 59,182 36,287 +63.0%
    TAADV MTS Repo 612,821 448,618 +37.0%
    Other fixed income      
    ADV fixed income 1,588 1,689 -6.0%
    Number of transactions and lots cleared (double counted)      
    Bonds – Wholesale (nominal value in €bn) 8,571 6,918 +23.9%
    Bonds – Retail (number of contracts) 3,313,182 3,658,240 -9.4%
    Commodities trading and clearing Q2 2025 Q2 2024 % var
    Number of trading days 91 91 –
    Power volume (in TWh) – ADV Day-ahead Power Market 2.53 2.53 0.0%
    Power volume (in TWh) – ADV Intraday Power Market          0.56 0.36 +58.0%
    Derivatives volume (in lots)      
    Number of trading days 62 63 –
    Commodity 6,746,377 7,898,126 -14.6%
    Futures 6,473,697 7,197,681 -10.1%
    Options 272,680 700,445 -61.1%
    FX trading Q2 2025 Q2 2024 % var
    Number of trading days 65 65 –
    FX volume (in $m, single counted)      
    Total Euronext FX 2,025,494 1,783,772 +13.6%
    ADV Euronext FX 31,161 27,443 +13.6%
    • Equity Markets
    Cash equity trading and clearing Q2 2025 Q2 2024 % var
    Number of trading days 62 63 –
    Number of transactions (buy and sell) (reported trades included)      
    Total Cash Market 186,375,884 152,354,170 +21.5%
    ADV Cash Market 3,006,063 2,434,193 +23.5%
    Transaction value (€ million, single counted)      
    Total Cash Market 831,391 696,882 +19.3%
    ADV Cash Market 13,410 11,062 +21.2%
    Shares (number of transactions and lots cleared – single counted) 75,751,603 55,211,959 +37.2%
    Financial derivatives trading and clearing Q2 2025 Q2 2024 % var
    Number of trading days 62 63 –
    Derivatives Volume (in lots) – Equity 30,293,449 35,317,815 -14.2%
    Index 10,684,578 13,753,365 -22.3%
    Futures 6,465,795 7,760,863 -16.7%
    Options 4,218,783 5,992,502 -29.6%
    Individual Equity 19,608,871 21,564,450 -9.1%
    Futures 526,418 2,782,606 -81.1%
    Options 19,082,453 18,781,844 +1.6%

    1 Definition in Appendix – adjusted for non-underlying operating expenses excluding D&A and non-underlying revenue and income.
    2   Fixed income, commodities and currencies
    3 Last twelve months adjusted EBITDA. Net debt to last twelve months reported EBITDA ratio was at 1.9x.
    4 Share of the parent company shareholders
    5https://www.euronext.com/en/about/media/euronext-press-releases/euronext-announces-collaboration-euroclear-enhance-euronext
    6https://www.euronext.com/en/about/media/euronext-press-releases/euronext-and-clearstream-launch-partnership-further-strengthen
    7https://www.euronext.com/en/about/media/euronext-press-releases/euronext-launches-first-phase-its-strategic-multi-year-repo
    8https://www.euronext.com/en/about/media/euronext-press-releases/euronext-launch-voluntary-share-exchange-offer-for-all-athex-0
    9 Offer is subject to customary and regulatory approvals.
    10 Including revenue from power trading and clearing
    11 Including equities, ETFs, warrants and certificates
    12www.euronext.com/en/news/euronext-nasdaq-clearing-agreement-power-derivatives-transfer-set-for-march-2026.
    13 www.euronext.com/en/about/media/euronext-press-releases/euronext-and-clearstream-launch-partnership-further-strengthen
    14www.euronext.com/en/investor-relations/financial-information/news/euronext-announces-success-its-offering-bonds-due
    15 www.euronext.com/en/about/media/euronext-press-releases/euronext-launches-first-phase-its-strategic-multi-year-repo
    16 https://www.euronext.com/en/about/media/euronext-press-releases/euronext-launch-voluntary-share-exchange-offer-for-all-athex-0
    17 Offer is subject to customary and regulatory approvals.

    18 The Nasdaq Nordic transaction qualifies as an ‘asset acquisition’. The full purchase price, consisting of a fixed amount of US$35.0 million and a contingent consideration amount estimated at US$115.0 million, is allocated to customer relationships as an intangible asset. The Group has chosen to apply the liability approach that follows IFRIC 1 principles for recognition of the contingent consideration liability, whereby subsequent changes in the liability are adjusted against the carrying amount of the related asset.

    Attachment

    • Q2 2025 Results – Press Release

    The MIL Network –

    August 5, 2025
  • MIL-OSI: Equasens: H1 revenue at 30 June 2025: €116.0m

    Source: GlobeNewswire (MIL-OSI)

    Villers-lès-Nancy (France), 31 July 2025 – 6:00 PM (CET)

    PRESS RELEASE

    H1 revenue at 30 June 2025: €116.0m
    +7.4% on a reported basis and +6.4% like-for-like

    H1 2025 Group revenue (€m) 2024
    Reported basis
    2025
    Reported basis
    Change /
    Reported basis
    Of which external growth Like-for-like change
    (organic growth)
    Q1 53.3 57.0 3.7 6.9% 0.5 3.2 5.9%
    Q2 54.7 58.9 4.3 7.8% 0.5 3.8 6.9%
    Total 108.0 116.0 8.0 7.4% 1.1 6.9 6.4%
    H1 2025 revenue / Division (€m) 2024
    Reported basis
    2025
    Reported basis
    Change /
    Reported basis
    Of which external growth Like-for-like change
    (organic growth
    Pharmagest 82,1 85,9 3,9 4,7%   3,9 4,7%
    Axigate Link 15,4 16,5 1,0 6,7%   1,0 6,7%
    e-Connect 5,5 7,5 2,0 36,6%   2,0 36,6%
    Médical Solutions 3,9 5,1 1,1 29,1% 1,1 0,1 2,2%
    Fintech 1,1 1,0 -0,1 -7,6%   -0,1 -7,6%
    Total 108,0 116,0 8,0 7,4% 1,1 6,9 6,4%

    As of 30 June 2025, Equasens Group (Euronext Paris™ – Compartment B – FR 0012882389 -EQS), a leading provider of digital solutions for healthcare professionals, reported revenue of €116.0m, up 7.4% from H1 2024 on a reported basis and 6.4% like-for-like.

    Revenue from CALIMED SAS, acquired by the Medical Solutions Division in December 2024, was restated to reflect changes in the scope of consolidation (€1.1m).

    H1 2025 highlights by type of business

    In order to facilitate the analysis of performance, a new breakdown of the Group’s activities is proposed: “maintenance and subscriptions” includes all recurring revenues, and “software and services” mainly includes license sales and revenues from training, consulting, and intermediation.

    • Configuration and hardware sales (+9.9%) remain a major growth driver for the Group, particularly for the Pharmagest (+6.1%) and e-Connect (+125.9%) Divisions
    • Maintenance and subscriptions (+5.5%) grow steadily, benefiting from customer loyalty and the success of SaaS offerings, particularly in the Axigate Link Division (+5.6%). Calimed (Medical Solutions Division) contributed growth of 2.0% to this segment.
    • Software solutions and services (+6.4%) continue to perform very well, driven by license sales, particularly those linked to the Pharmagest Division’s latest product launches (+4.6%) and by new deployments by the Axigate Link Division (+8.9%).
    H1 2025 revenue / Activity (€m) 2024**
    Reported basis
    2025
    Reported basis
    Change / Reported basis
    Configurations and hardware 42.9 47.1 4.2 9.9%
    Maintenance and subscriptions 48.7 51.4 2.7 5.5%
    Software and services 16.4 17.4 1.1 6.4%
    Total 108.0 116.0 8.0 7.4%

    * Maintenance and subscriptions: recurring revenues including SaaS
    ** 2024 reported basis: reconstituted data

    H1 2025 highlights by Division
            
    The PHARMAGEST Division recorded H1 revenue of €85.9m (+4.7%).  This performance confirms the positive momentum that began in Q1 2025, driven by innovation and improved customer satisfaction.

    • In France, all business activities grew (+3.4% to €74.0m), driven by:
      • Equipment renewal needs and new equipment offerings, the “electronic labels” business was particularly buoyant in the second quarter.
      • The launch, in early 2025, of differentiating software solutions focused on pharmacy automation, productivity and safety. The market response to these new solutions has been very positive, with over 800 id.genius and 160 id.secure box sold.
      • Electronic invoice management solutions for pharmacies (Digipharmacie), which confirmed its market leadership by adding more than 900 new customers.
      • Only the professional training sector (Atoopharm) is experiencing a slowdown in response to changes in the regulatory environment, and in particular a one-year extension of the training cycle.
    • In Italy, sales grew evenly across both wholesale and pharmacy activities (+16.5% to €7.7m). This positive sales momentum remained strong, with the opening of more than 150 new pharmacies in the first half.
    • In Germany, sales were up (+11.2% to €3.0m) in both the medication adherence and pharmacy management segments, thanks in particular to the success of id.express payment terminals.
    • In Belgium, the return to growth has been confirmed (+6.4% to €1.2m).

    This Division accounts for 74.1% of total revenue.

    The AXIGATE LINK division reported H1 2025 revenue of €16.5m (+6.7%).

    • The Nursing Home sector (+4.5% to €8.4m) has benefited from the ESMS NUMERIQUE public funding in France, resulting in a strong business performance. Titanlink has been deployed at 164 sites since January 2025 in France (789 in total) and 16 in Belgium (58 sites in total).
    • The Homecare sector (+13.9% to €3.9m) has continued to perform well, driven by the signing of new contracts and the success of offers designed for Regional Resource Centres (CRT) and Family Caregiver Support Services (PFR). Expansion into the Home Care Services market has met with a very positive response.
    • The Hospital sector (+16.6% to €2.1m) has been particularly successful, with the signature of contracts for four hospital networks, confirming the growing reputation of the Axigate Hospilink solution in this market.

    This Division accounts for 14.2% of total revenue.

    The E-CONNECT division reported H1 2025 revenue of €7.5m (+36.6%).

    • Building on the momentum of Q1, the Division continued to roll out its Mobility solutions at a rapid pace, notably eS-KAP+, a new solution launched in Q1 2025 that has been very well received by more than 20 key software publishers in this market.
    • Since March 2025, the project to equip smartphones with a digital solution of the French health insurance card (Apps Vitale) has been gradually rolled out in accordance with the regional timetable established by the French national health insurance system.

    This Division accounts for 6.5% of total revenue.

    The MEDICAL SOLUTIONS Division had €5.1m in revenue, up 29.1% on a reported basis and 2.2% like-for-like.

    • The integration of Calimed (acquired at the end of 2024) has been the main driver of this growth as its SaaS offering for surgeons and doctors continues to attract new customers thanks to its high added value for these professions.
    • The Division’s long-standing solutions are benefiting from the very positive response to new offerings like the LOQUii voice-based AI companion and add-on services like online backup, attesting to the loyalty of the customer base and the strength of the recurring model in an intensely competitive environment.

    The Division accounts for 4.4% of total revenue.

    The FINTECH Division had H1 revenue of €1.0m (-7.6%).

    • Efforts are continuing to clean up the customer portfolio to limit risk exposure and improve its quality.
    • Sales remained buoyant in a difficult economic environment.

    The Division accounts for 0.9% of total revenue.

    Material subsequent events after 30 June 2025 Acquisition of the DIS and ResUrgences businesses – Strategic reinforcement of the AXIGATE LINK Division

    On July 1st, 2025, the Group finalized the acquisition of two businesses specialising in solutions for the public healthcare sector: Novaprove (publisher of ResUrgences software) and the business assets of DIS. This strategic acquisition, which adds more than 300 customers from the public healthcare sector and generates annual revenue of around €5m, significantly strengthens the position of the Axigate Link Division in the hospital and medical-social software market.
    ResUrgences, a cloud platform specialising in the management of hospital emergency services, used by eight university hospitals and 75 other establishments, and the DIS range representing a comprehensive suite of digital solutions used by 215 sites (125 healthcare establishments and 90 nursing homes), further enhance the Division’s existing offering. The integration of these new functional modules (Electronic Patient Records, invoicing, accounting, inventory management, and HR) into the Hospilink, Titanlink and Domilink ranges will create a comprehensive ecosystem to support the digital transformation of public and private institutions, in line with the Group’s ambition to become the leading technology partner for the French healthcare system.

    H2 2025 outlook:

    Encouraged by the positive commercial momentum experienced across all of its divisions in H1 2025, Equasens Group looks ahead to the second half with confidence for which it is expecting continuing growth.
    At the same time, Equasens Group remains attentive to the decisions of public authorities regarding the level of financial compensation granted by health insurance for the purchase of generic and biosimilar medicines. These decisions could have an impact on pharmacy economics and the pharmacy network.
    The investment and structural efforts made since 2024 are starting to show results, with the successful rollout of new software solutions for all healthcare professionals. These measures will be maintained for the remainder of FY 2025.
    The integration of DIS and ResUrgences businesses, effective as of 1 July 2025, will start contributing to the performance of the Axigate Link Division in Q3 and will create promising technical and commercial synergies.
    With a solid financial structure, the Group remains attentive to opportunities for external growth, both in France and in Europe that will strengthen its position as a leader in digital healthcare solutions.

    Financial calendar:

    • H1 2025 results: 26 September 2025
    • Presentation of H1 2025 results to analysts (SFAF): 29 September 2025 – Paris
    • Q3 2025 revenue: 5 November 2025
    • FY 2025 revenue: 5 February 2026

    About Equasens Group

    Founded over 35 years ago, Equasens Group, a leader in digital healthcare solutions, today employs over 1.300 people across Europe.
    Equasens Group’s specialised business applications facilitate the day-to-day work of healthcare professionals and their teams, working in private practice, collaborative medical structures or healthcare establishments. The Group also provides comprehensive support to healthcare professionals in the transformation of their profession by developing electronic equipment, digital solutions and healthcare robotics, as well as data hosting, financing and training adapted to their specific needs.
    And reflecting the spirit of its tagline “Technology for a More Human Experience”, the Group is a leading provider of interoperability solutions that improve coordination between healthcare professionals, their communications and data exchange resulting in better patient care and a more efficient and secure healthcare system.

    Listed on Euronext Paris™ – Compartment B

    Indexes: MSCI GLOBAL SMALL CAP – GAÏA Index 2020 – CAC®SMALL and CAC®All-Tradable
    Included in the Euronext Tech Leaders segment and the European Rising Tech label

    Eligible for the Deferred Settlement Service (“Service à Réglement Différé” – SRD) and equity savings accounts invested in small and mid caps (PEA-PME).
    ISIN: FR 0012882389 – Ticker Code: EQS

    Get all the news about Equasens Group www.equasens.com and on LinkedIn

    CONTACTS

    EQUASENS Group
    Analyst and Investor Relations:
    Chief Administrative and Financial Officer: Frédérique Schmidt
    Tel: +33 (0)3 83 15 90 67 – frederique.schmidt@equasens.com

    Financial communications agency:
    FIN’EXTENSO – Isabelle Aprile

    Tel.: +33 (0)6 17 38 61 78 – i.aprile@finextenso.fr

    Forward-looking statements
    This press release contains forward-looking statements that are not guarantees of future performance and are based on current opinions, forecasts and assumptions, including, but not limited to, assumptions about Equasens’ current and future strategy and the environment in which Equasens operates. These involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements, or industry results or other events, to materially differ from those expressed in or implied by such forward-looking statements. These risks and uncertainties include those detailed in Chapter 3 “Risk factors” of the Universal Registration Document filed with the French financial market authority (Autorité des Marchés Financiers or AMF) on April 29, 2025 under number D.25-0334. These forward-looking statements are valid only as of the date of this press release.

    Attachment

    • EQUASENS_PR_20250731_2025-FY-revenue_EN

    The MIL Network –

    August 5, 2025
  • MIL-OSI: Applied Releases Commercial Lines Premium Rate Index Findings for Q2 2025

    Source: GlobeNewswire (MIL-OSI)

    Toronto, ON, July 31, 2025 (GLOBE NEWSWIRE) — Applied Systems® today announced the second quarter 2025 results of the Applied Commercial Index™, the Canadian insurance industry’s premium rate index. Overall, the magnitude of rate increases was down across all lines relative to average premium renewals in the same quarter last year with 3.63% in Q2 2025 down from 5.83% in Q2 2024. All lines of business saw decreases compared to the same quarter last year.
    Quarter over quarter, Q2 2025 results showed average renewal rate change decreased across many lines of the most commonly placed Commercial Lines categories, including Real Estate Property, Business and Professional Services, and Construction. Hospitality Services and Retail Services experienced an increase in average renewal rate change.
    Significant findings include:

    • Business and Professional Services: Q2 2025 premium renewal rate change average was 3.00%, down from the Q1 2025 average of 3.99%.
    • Construction, Erection, and Installation Services: Premium renewal rate change average was 3.56% for the quarter, down from the Q1 2025 average of 3.85%.
    • Hospitality Services: Q2 2025 premium renewal rate change average was 4.53%, up from the Q1 2025 average of 3.08%.
    • Real Estate Property: Premium renewal rate change average was 3.38% for the quarter, down from the Q1 2025 average of 3.58%.
    • Retail Services: Premium renewal rate change averaged 4.62%, up from the Q1 2025 average of 4.57%.

    “This quarter’s average premium renewal rate change continues to decrease across the most commonly placed commercial lines of business, except Hospitality Services which saw a spike,” said Steve Whitelaw, SVP and general manager, Canada, Applied Systems. “As we make our way into the second of the year, the Applied Commercial Index will shine light on how current macro trends such as US tariffs and others will affect rates.”
    Access the complete quarterly report here.                                                            

    # # #

    Applied Commercial Index is a trademark of Applied Systems, Inc. All data is fully anonymized when aggregating and analyzing the Applied Commercial Index.

    About Applied Systems
    Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.

    The MIL Network –

    August 5, 2025
  • MIL-OSI: SCOR announces the availability of its 2025 Interim Financial Report

    Source: GlobeNewswire (MIL-OSI)

    Press release
    July 31, 2025 – N° 12

    SCOR announces the availability of its 2025 Interim Financial Report

    SCOR (“SCOR” or the “Company”) announces the availability and the filing with the French Autorité des marchés financiers of its Interim Financial Report for the period ended June 30, 2025.

    The 2025 Interim Financial Report is available in the “Regulated Information” section of the Company’s website at www.scor.com.

    Hard copies of the 2025 Interim Financial Report are also available at SCOR’s headquarters, located at the following address:

    SCOR SE
    5, avenue Kléber
    75795 Paris Cedex 16
    France

    *

    *         *

    SCOR, a leading global reinsurer

    As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society.

    The Group generated premiums of EUR 20.1 billion in 2024 and serves clients in more than 150 countries from its 37 offices worldwide.

    For more information, visit: www.scor.com

    Media Relations
    Alexandre Garcia
    media@scor.com

    Investor Relations
    Thomas Fossard
    InvestorRelations@scor.com

    Follow us on LinkedIn

     

    All content published by the SCOR group since January 1, 2024, is certified with Wiztrust. You can check the authenticity of this content at wiztrust.com.

    General

    Figures presented throughout the 2025 Interim Financial Report may not add up precisely to the totals in the tables and text. Percentages and percent changes are calculated on complete figures (including decimals); therefore, the 2025 Interim Financial Report might contain immaterial differences in sums and percentages due to rounding. Unless otherwise specified, the sources for the business ranking and market positions are internal.

    The 2025 Interim Financial Report does not constitute an offer to sell or exchange, or a solicitation of an offer to buy SCOR securities in any jurisdiction.

    Forward-looking statements

    The 2025 Interim Financial Report includes forward-looking statements, assumptions, and information about SCOR’s financial condition, results, business, strategy, plans and objectives, including in relation to SCOR’s current or future projects.

    These statements may be identified by the use of the future tense or conditional mode, or terms such as “estimate”, “believe”, “anticipate”, “aim”, “expect”, “have the objective”, “intend to”, “plan”, “result in”, “should”, and other similar expressions.

    It should be noted that the achievement of these objectives, forward-looking statements, assumptions and information is dependent on circumstances and facts that may or may not arise in the future.

    No guarantee can be given regarding the achievement of these forward-looking statements, assumptions and information. These forward-looking statements, assumptions and information are not guarantees of future performance. Forward-looking statements, assumptions and information (including on objectives) may be impacted by known or unknown risks, identified or unidentified uncertainties and other factors that may significantly impact the future results, performance and accomplishments planned or expected by SCOR.

    In particular, it should be noted that the full impact of the economic, financial and geopolitical risks on SCOR’s business and results cannot be precisely assessed.

    Accordingly, all assessments, assumptions, and figures presented in the 2025 Interim Financial Report should be considered as estimates based on evolving analyses, and encompass a wide range of theoretical hypotheses, which are highly evolutive.

    Information regarding risks and uncertainties that may affect SCOR’s business is set forth in the 2024 Universal Registration Document filed on March 20, 2025, under number n°D.25-0124 with the French Autorité des marchés financiers (AMF) available on SCOR’s website www.scor.com and on the AMF’s website www.amf-france.org.

    In addition, such forward-looking statements, assumptions and information are not “profit forecasts” within the meaning of Article 1 of Commission Delegated Regulation (EU) 2019/980.

    SCOR does not undertake and has no obligation or intention to complete, update, revise or change these forward-looking statements, assumptions and information, whether as a result of new information, future events or otherwise.

    Financial information

    The Group’s financial information contained in the 2025 Interim Financial Report is prepared on the basis of IFRS and interpretations issued and approved by the European Union.

    Unless otherwise specified, prior-year balance sheet, income statement items and ratios have not been reclassified.

    The calculation of financial ratios (such as return on invested assets, regular income yield, return on equity and combined ratio) is detailed in the Appendices of the presentation related to the financial results for the second quarter and first half of 2025 which is available on SCOR’s website www.scor.com.

    The financial results for the first half of 2025 included in the 2025 Interim Financial Report have been subject to a limited review by SCOR’s statutory auditors. Unless otherwise specified, all figures are presented in Euros.

    Any financial data or figures for a period subsequent to June 30, 2025 are not to be construed as a forecast of the expected financials for these periods.

    Attachment

    • SCOR Press Release

    The MIL Network –

    August 5, 2025
  • MIL-OSI Security: Prince Abdulaziz Bin Saud, Saudi Minister of Interior, visits INTERPOL headquarters

    Source: Interpol (news and events)

    31 July 2025

    Welcomed by the INTERPOL President and Secretary General, the visit focused on bolstering international police cooperation to combat emerging crime threats.

    LYON, France: The Saudi Arabian Minister of Interior, Prince Abdulaziz Bin Saud Bin Naif Bin Abdulaziz, met with INTERPOL President Ahmed Naser Al-Raisi and INTERPOL Secretary General Valdecy Urquiza at the organization’s Lyon headquarters.

    The visit underscored INTERPOL’s strong cooperation with Saudi Arabia, which is set to host the organization’s Regional Bureau for the Middle East and North Africa.

    President Al-Raisi said:

    “INTERPOL greatly values the strong partnership with Saudi Arabia in tackling global security threats. The visit of the Minister of Interior to INTERPOL’s headquarters underlines the Kingdom’s commitment to international police cooperation and our shared determination to confront transnational crime through collaboration, innovation, and trust.”

    Prince Abdulaziz Bin Saud said:

    “Today’s visit reflects Saudi Arabia’s continued commitment to supporting INTERPOL and strengthening international cooperation in combating cross-border crime.  The Kingdom values INTERPOL’s vital role in enhancing collaboration between security agencies worldwide, a partnership which is crucial to global security and stability.”

    Prince Abdulaziz Bin Saud and his delegation were briefed by INTERPOL officials on police capabilities targeting cybercrime, financial fraud and other emerging crime threats.

    The Minister was also updated on the progress of INTERPOL’s I-CORE programme to modernize international police cooperation, which has benefited from the financial support of Saudi Arabia.

    Secretary General Urquiza said:

    “Saudi Arabia has shown important leadership in driving the digital transformation of international police cooperation. The Kingdom’s generous support for INTERPOL’s I-CORE programme is accelerating our efforts to build a more connected and effective global policing architecture.”

    Prince Abdulaziz Bin Saud was accompanied by Hesham Al-Faleh, Assistant Minister of Interior and Fahd bin Mayouf Al-Ruwaili, Ambassador of The Kingdom of Saudi Arabia to France, alongside other senior national security leaders.

    MIL Security OSI –

    August 5, 2025
  • MIL-OSI Submissions: A World of Water exhibition asks: ‘Can the seas survive us?’

    Source: The Conversation – UK – By John Kenneth Paranada, Curator of Art and Climate Change, University of East Anglia

    Water is at the heart of the disruption wrought by climate change. The seas, once seen as vast and stable, are now unpredictable and restless.

    That tidy, looping diagram of the water cycle once pinned up in primary school classrooms – clouds, rivers, evaporation and rain – now reads more like a fragmented recollection than a dependable process. Human impact has cracked that once-stable loop wide open.

    Sea levels inch upward year on year. Droughts grow more prolonged and severe. Rainfall becomes erratic and violent. What was once spoken of in future tense is now present and pressing.

    In Norfolk, land and sea have long coexisted in an uneasy truce. Here, the threat of sea level rise is not a speculative concern, it is data-backed, visible and accelerating.

    According to research from the Tyndall Centre for Climate Change Research, vast swathes of Norfolk risk being submerged by rising seas if global temperatures rise by even two degrees celsius. It is one of the most at-risk areas in the UK.

    Against this backdrop comes the Sainsbury Centre’s exhibition, A World of Water (part of the Can the Seas Survive Us? season). In the show, water is explored as subject, medium and metaphor. It is both agent and witness, shaping civilisations, sustaining life, and now challenging our ability to coexist with it.

    Curated through an interdisciplinary lens, the exhibition was shaped by deep collaboration with scientists, artists, ecologists, activists and coastal communities. Rooted in lived experience, from a two-day walk along the Wherry Man’s Way to a 36-hour sail aboard a 1921 fishing smack, the curatorial process traced fragile coastlines and the North Sea’s rapid transformation into an industrial nexus of energy infrastructures.


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    The curatorial approach to the show embraces the multifaceted nature of water by weaving together maritime history, Indigenous knowledge and contemporary works rooted in the artists’ experiences.

    Many of the participating artists hail from communities already wrestling with rising tides and the realities of climate disruption. Their contributions form three thematic currents: Mudplume, Water Water Everywhere and In a State of Flux.

    These overlapping threads investigate how water connects, nourishes and imperils. Rather than positioning the sea as a line of division, the exhibition reframes it as a living, connective tissue linking culture, history and ecology.

    A curatorial geomorphology of the sea

    Guidance for the exhibition’s conceptual framework came, fittingly, from water itself. Its mutable nature – solid, liquid, vapour – shaped the rhythm of the curatorial process. Rather than impose a rigid thesis, the exhibition offers an ever-shifting constellation of perspectives.

    The exhibition journey begins with sound. Visitors are welcomed by a low murmur, tides lapping, water dripping, echoing through the museum entrance. This leads to Spiral Fosset (2024), a sculptural work by the Dutch collective De Onkruidenier.

    Mirroring the central staircase of the museum, the piece suggests the brackish confluence where fresh and saltwater mingle. From here, the viewer descends into the lower galleries, reimagined as an estuary.

    Within the lower galleries, artworks unfold like coastal mudflats at low tide. Seventeenth-century Dutch seascapes hang alongside photographs, video works and sculptures made from plastic waste. Sands from the beaches of Cromer, Happisburgh and Cley are featured, anchoring the exhibition in local terrain.

    East Anglia’s centuries-old ties with the Low Countries form a steady through line. Hendrick van Anthonissen’s View of Scheveningen Sands (1641) shares space with works by Norwich School masters such as John Sell Cotman, John Crome and Robert Ladbrooke.

    This approach privileges resonance over chronology. The exhibition avoids a linear march through time in favour of prioritising association, connection and drift. For instance, Shore Compass by Olafur Eliasson (2019) sits in subtle dialogue with Jodocus Hondius’s 1589 Drake Map an early cartographic rendering of Sir Francis Drake’s circumnavigation of the world.

    Created during the height of European maritime expansion and colonialism, the map illustrates the interplay between empire, navigation and power. Time, like tide, is allowed to meander.

    The exhibition adopts what might be called a “curatorial geomorphology”: a way of curating that draws on the sculpting force of water. In the natural sciences, geomorphology examines how landscapes are formed and reshaped by flowing water, storms and tides, while hydrology traces water’s movement through the environment.

    This curatorial approach translates those scientific ideas into a cultural and creative practice. Like a river, it flows through histories, stories and meanings. What unfolds is a tidal narrative, an estuary of thought where time loosens, the present deepens and new futures begin to surface.

    Visitors to A World of Water can expect something different from a traditional gallery experience. It invites you to think with the seas, to tune into their rhythms, tensions and secret lives.

    As you wander through the galleries, you enter a realm shaped by flux, expect to feel and reimagine a world where land, water and life move as one. And perhaps, by moving as water does, we may begin to sense an answer to the question: Can the Seas Survive Us? Not in certainty, but through our collective and individual actions toward a more regenerative and sustainable future.

    A World of Water is at the Sainsbury Centre Norwich until August 3. It’s part of a six-month season of interlinked exhibitions and events that explore the question: “Can the seas survive us?”


    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    John Kenneth Paranada received funding from the John Ellerman Foundation; the Art Fund’s Jonathan Ruffer Curatorial Grant; the Association of Art Museum Curators’ EPIC Curatorial Fellowship Award; the Mondriaan Fund’s International Art Presentation Grant; the Kingdom of the Netherlands’ Cultural Diplomacy Grant; and Arts Council England’s National Lottery Fund for the project A World of Water: Can the Seas Survive Us? at the Sainsbury Centre.

    – ref. A World of Water exhibition asks: ‘Can the seas survive us?’ – https://theconversation.com/a-world-of-water-exhibition-asks-can-the-seas-survive-us-262057

    MIL OSI –

    August 5, 2025
  • MIL-OSI Submissions: By building the world’s biggest dam, China hopes to control more than just its water supply

    Source: The Conversation – UK – By Tom Harper, Lecturer in International Relations, University of East London

    China’s already vast infrastructure programme has entered a new phase as building work starts on the Motuo hydropower project.

    The dam will consist of five cascade hydropower stations arranged from upstream to downstream and, once completed, will be the world’s largest source of hydroelectric power. It will be four times larger than China’s previous signature hydropower project, the Three Gorges Dam, which spans the Yangtse river in central China.

    The Chinese premier, Li Qiang, has described the proposed mega dam as the “project of the century”. In several ways, Li’s description is apt. The vast scale of the project is a reflection of China’s geopolitical status and ambitions.

    Possibly the most controversial aspect of the dam is its location. The site is on the lower reaches of the Yarlung Zangbo river on the eastern rim of the Tibetan plateau. This is connected to the Brahmaputra river which flows into the Indian border state of Arunachal Pradesh as well as Bangladesh. It is an important source of water for Bangladesh and India.

    Both nations have voiced concerns over the dam, particularly since it can potentially affect their water supplies. The tension with India over the dam is compounded by the fact that Arunachal Pradesh has been a focal point of Sino-Indian tensions. China claims the region, which it refers to as Zangnan, saying it is part of what it calls South Tibet.

    At the same time, the dam presents Beijing with a potentially formidable geopolitical tool in its dealings with the Indian government. The location of the dam means that it is possible for Beijing to restrict India’s water supply.

    This potential to control downstream water supply to another country has been demonstrated by the effects that earlier dam projects in the region have had on the nations of the Mekong river delta in 2019. As a result, this gives Beijing a significant degree of leverage over its neighbours.

    One country restricting water supply to put pressure on another is by no means unprecedented. In fact in April 2025, following a terror attack by Pakistan-based The Resistance Front in Kashmir, which killed 26 people (mainly tourists), India suspended the Indus waters treaty, restricting water supplies to Pakistani farmers in the region. So the potential for China’s dam to disrupt water flows will further compound the already tense geopolitics of southern Asia.

    Concrete titans

    The Motuo mega dam is an advertisement of China’s prowess when it comes to large-scale infrastructure projects. China’s expertise with massive infrastructure projects is a big part of modern Chinese diplomacy through its massive belt and road initiative.

    This involves joint ventures with many developing nations to build large-scale infrastructure, such as ports, rail systems and the like. It has caused much consternation in Washington and Brussels, which view these initiatives as a wider effort to build Chinese influence at their expense.

    The completion of the dam will will bring Beijing significant symbolic capital as a demonstration of China’s power and prosperity – an integral feature of the image of China that Beijing is very keen to promote. It can also be seen as a manifestation of both China’s aspiration and its longstanding fears.

    Harnessing the rivers

    The Motuo hydropower project also represents the latest chapter of China’s long battle for control of its rivers, a key story in the development of Chinese civilisation.

    Rivers such as the Yangtze have been at the heart of the prosperity of several Chinese dynasties (the Yangtse is still a major economic driver in modern China) and has devastated others. The massive Yangtse flood of 1441 threatened the stability of the Ming dynasty, while an estimated 2 million people died when the river flooded in 1931.

    France 24 report on the construction of the mega dam project.

    Such struggles have been embodied in Chinese mythology in the form of the Gun-Yu myth. This tells the story of the way floods displaced the population of ancient China, probably based on an actual flooding at Jishi Gorge on the Yellow River in what is now Qinghai province in 1920BC.

    This has led to the common motif of rivers needing human control to abate natural disaster, a theme present in much classical Chinese culture and poetry.

    The pursuit of controlling China’s rivers has also been one of the primary influences on the formation of the Chinese state, as characterised by the concept of zhishui 治水 (controlling the rivers). Efforts to control the Yangtze have shaped the centralised system of governance that has characterised China throughout its history. In this sense, the Motuo hydropower project represents the latest chapter in China’s quest to harness the power of its rivers.

    Such a quest remains imperative for China and its importance has been further underlined by the challenges of climate change, which has seen natural resources such as water becoming increasingly limited. The Ganges river has already been identified as one of the world’s water scarcity hotspots.

    As well as sustaining China’s population, the hydropower provided by the dam is another part of China’s wider push towards self-sufficiency. It’s estimated that the dam could generate 300 billion kilowatt-hours of electricity every year – about the same about produced by the whole UK. While this will meet the needs of the local population, it also further entrenches China’s ability to produce cheap electricity – something that has enabled China to become and remain a manufacturing superpower.

    Construction has only just begun, but Motuo hydropower project has already become a microcosm of China’s wider push towards development. It’s also a gamechanger in the geopolitics of Asia, giving China the potential to exert greater control in shaping the region’s water supplies. This in turn will give it greater power to shape the geopolitics of the region.

    At the same time, it is also the latest chapter of China’s longstanding quest to harness its waterways, which now has regional implications beyond anything China’s previous dynasties could imagine.


    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

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

    – ref. By building the world’s biggest dam, China hopes to control more than just its water supply – https://theconversation.com/by-building-the-worlds-biggest-dam-china-hopes-to-control-more-than-just-its-water-supply-261984

    MIL OSI –

    August 5, 2025
  • Trump’s envoy meets Netanyahu for Gaza aid, ceasefire push

    Source: Government of India

    Source: Government of India (4)

    U.S. special envoy Steve Witkoff met Israeli Prime Minister Benjamin Netanyahu on Thursday in a bid to salvage Gaza truce talks and tackle a humanitarian crisis in the enclave, where a global hunger monitor has warned that famine is unfolding.

    Shortly after Witkoff’s arrival, President Donald Trump posted on his Truth Social network: “The fastest way to end the Humanitarian Crises in Gaza is for Hamas to SURRENDER AND RELEASE THE HOSTAGES!!”

    Indirect ceasefire talks between Israel and Palestinian Islamist group Hamas in Doha ended in deadlock last week with the sides trading blame for the impasse and gaps lingering over issues including the extent of an Israeli military withdrawal.

    Witkoff arrived with Israel facing mounting international pressure over the widespread destruction of Gaza and constraints on aid in the territory, with Canada the latest Western power to say it will recognise a Palestinian state.

    Israel on Wednesday sent a response to Hamas’ latest amendments to a U.S. proposal that would see a 60-day ceasefire and the release of some hostages in exchange for Palestinian prisoners, a source familiar with the details said.

    There was no immediate comment from Hamas. Israeli officials have in recent days said Israel might declare that it would annex parts of Gaza if the stalemate continues.

    Gaza medical officials said at least 23 people were reported killed by Israeli fire across the enclave, including 12 people among crowds who had gathered to receive aid around the Netzarim corridor, an area held by Israeli troops in central Gaza.

    The Israeli military said that its troops had fired warning shots to disperse crowds that were endangering them with no casualties identified.

    Since the war began, the Gaza health ministry has recorded 156 deaths from starvation and malnutrition, most of them in recent weeks, including at least 90 children.

    Israel’s Public Broadcaster Kan said Witkoff would also visit an aid distribution site in Gaza.

    Confronted by rising international outrage over images of starving children, Israel said on Sunday it would halt military operations for 10 hours a day in parts of Gaza and designate secure routes for convoys delivering food and medicine.

    CALLS ON HAMAS TO DISARM

    The U.N. Office for the Coordination of Humanitarian Affairs said on Wednesday the United Nations and its partners had been able to bring more food into Gaza in the first two days of pauses, but the volume was “still far from enough”.

    Even with more aid running through Gaza, residents face peril from Israeli forces and Palestinian looters when trying to reach the supplies.

    “I have tried several times to grab a sack of flour. The only time I managed to do so, someone with a knife froze me in the street and took it away, threatening to stab me,” one man from Deir Al-Balah told Reuters, asking not to be identified.

    With the number of Palestinians killed in almost two years of war passing 60,000 this week, pressure has been mounting in Gaza on Hamas to reach a ceasefire deal with Israel.

    “We can save thousands of lives and maybe the war wouldn’t resume,” Rami from Gaza City told Reuters via a chat app.

    Mothers of hostages led a protest outside Netanyahu’s office, calling on the government to end the war.

    “End this nightmare,” said Yael Engel-Lichi, whose nephew had been taken hostage and released in a previous ceasefire. Twenty of the 50 hostages still held by militants in Gaza are believed to still be alive.

    Netanyahu, whose ruling coalition includes two far-right parties who want to conquer Gaza and re-establish Jewish settlements there, has said he will not end the war until Hamas no longer rules the enclave and lays down its arms.

    Hamas has rejected calls to disarm.

    Qatar and Egypt, who are mediating the ceasefire efforts, backed a declaration on Tuesday by France and Saudi Arabia which outlined steps for a two-state solution to the Israeli-Palestinian conflict.

    The declaration says Hamas “must end its rule in Gaza and hand over its weapons to the Palestinian Authority”, which is led by its rivals and exercises limited self-rule in parts of the Israeli-occupied West Bank.

    Israel has ruled out the Palestinian Authority gaining control of Gaza and on Thursday Defence Minister Israel Katz and Justice Minister Yariv Levin voiced support for annexing the West Bank – territory which the Palestinians seek for a state.

    Israel has denounced declarations by France, Britain and Canada since last week that they may recognise a Palestinian state, which Israel says amounts to rewarding Hamas for its October 7, 2023 assault on Israeli territory.

    That attack, when fighters killed 1,200 people and took 251 hostages back to Gaza, precipitated the war.

    German Foreign Minister Johann Wadephul, embarking on a visit to Israel, said negotiations for a two-state solution must begin but that for Germany, the recognition of a Palestinian state would come at the end of that process.

    (Reuters)

    August 5, 2025
  • MIL-OSI Canada: Triple threat, FIBA 3×3 is a slam dunk for Alberta

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

    August 5, 2025
  • MIL-OSI: Viridien: 2025 Interim Financial Report available

    Source: GlobeNewswire (MIL-OSI)

    Viridien

    Société Anonyme with a share capital of €7,180,449
    Registered office: 27 avenue Carnot, 91300 Massy
    No.: 969 202 241 – RCS Evry

    2025 Interim Financial Report available

    Paris, France – July 31, 2025

    Viridien announced that its interim financial report as at June 30, 2025 was filed today with the Autorité des Marchés Financiers (AMF).

    This document is available on the Company’s website: https://www.viridiengroup.com/ under the Investors section (both in “Regulated information” and “Results and Publications”).

    About Viridien:

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,400 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).

    Contact: Legal Department, 27 avenue Carnot, 91300 Massy

    Attachment

    • communiqué rapport semestriel 2025 ENG – vF

    The MIL Network –

    August 5, 2025
  • MIL-OSI Security: Illicit firearms: Operation Trigger IX nets 14,260 arrests across Latin America

    Source: Interpol (news and events)

    18 April 2023

    Drugs worth USD 5.7 billion also seized in INTERPOL-led operation targeting key trafficking routes and organized crime groups

    LYON, France – In the biggest firearms operation ever coordinated by INTERPOL, authorities in Central and South America have made 14,260 arrests and seized some 8,263 illicit firearms, as well as 305,000 rounds of ammunition.

    With illicit firearms used by criminals to commit armed robberies and murder, they are also closely associated with the proliferation of a wide range of other crimes using the same trafficking routes.

    The links between illicit firearms and drug manufacturing and trafficking were thrown into sharp relief, with the seizure of 203 tonnes of cocaine and other drugs together worth some USD 5.7 billion, and 372 tonnes of drug precursors during Operation Trigger IX (12 March – 2 April).

    Law enforcement across INTERPOL’s 195 member countries have reported record drug seizures in the past year and, in many cases, a spike in drug-related violence, fueled by the traffic of illegal firearms.

    The operation, which saw an unprecedented level of cooperation across 15 countries, also identified a range of other crimes such as corruption, fraud, human trafficking, environmental crime and terrorist activities.

    Colombian authorities arrested the subject of an INTERPOL Red Notice

    Arrests in Honduras – Operation Trigger IX

    Firearms are closely associated with the proliferation of a wide range of other crimes.

    Border checks – Operation Trigger IX

    Operational hub – Operation Trigger IX

    Marine patrols – Operation Trigger IX

    Operation Trigger IX led to the disruption of 20 organized criminal groups

    Drug seizure – El Salvador

    A woman attempting to smuggle pistols and chargers between Paraguay and Brazil.

    Seizure by Chile – Operation Trigger IX

    Vehicle checks – Operation Trigger IX

    Uruguay saw its largest-ever seizure of ammunition.

    Operational highlights

    INTERPOL gathered firearms experts from participating countries at an operational hub in Foz do Iguaçu in the tri-border area of Argentina, Brazil, and Paraguay, to support frontline actions and ensure the swift exchange and cross-checking of intelligence.

    On the ground, coordinated actions led to the disruption of 20 organized criminal groups, including the arrest of members of Primeiro Comando da Capital, Mara Salvatrucha and the Balkans Cartel, all involved in firearms trafficking.

    In Uruguay, 100,000 pieces of ammunition trafficked internationally by two European nationals were seized by authorities, marking the country’s largest-ever such seizure.

    Authorities in Brazil and Paraguay shut down several firearms dealerships following the identification of irregular transfers and unlicensed sales.

    Other operational results include:

    • 11 victims were rescued in Paraguay, when authorities dismantled a human trafficking ring.
    • In cooperation with Venezuela, police in Colombia arrested a Venezuelan national subject to an INTERPOL Red Notice for terrorism and arms trafficking.
    • A 32 year old woman was arrested at the land border between Paraguay and Brazil with eight pistols and 16 chargers taped to her body.

    Looking ahead, some 30 investigations were opened as a result of actions on the ground, and authorities identified 15 new modus operandi for the illicit manufacturing, trafficking and concealment of firearms, with INTERPOL’s Purple Notice leveraged to help alert member countries.

    Officers perform real-time checks against INTERPOL’s databases during Operation Trigger IX.

    Operational hub – Brazil

    Border checks between Argentina and Brazil

    Seizure by Honduras – Operation Trigger IX

    Police checks by Argentina – Operation Trigger IX

    Authorities shut down several firearms dealerships in Brazil and Paraguay

    Authorities had immediate access to the INTERPOL Ballistic Information Network

    Arrest in Paraguay – Operation Trigger IX

    El Salvador firearms dealership checks – El Salvador

    INTERPOL’s global reach

    “The fact that an operation targeting illicit firearms resulted in such massive drugs seizures is further proof, if needed, that these crimes are intertwined,” said INTERPOL Secretary General Jürgen Stock.

    “The results, coming just weeks after our Americas Regional Conference was highlighting the need for greater information sharing on these linked organized crime activities, also demonstrate the unique value of INTERPOL in supporting efforts in the field.  

    “The organized crime networks behind all of these illicit activities have only one priority, which is profit. We, as law enforcement, must be equally determined to dismantle them across every region and globally,” concluded Secretary General Stock.

    Valdecy Urquiza, INTERPOL’s Vice-President for the Americas, highlighted the value of joint initiatives such as Trigger IX in prioritizing national and regional efforts against illicit flows. “Intelligence-led investigations and operations enable police to cooperate internationally and remove illicit firearms from circulation to protect the public,” said Mr Urquiza.

    INTERPOL global tools used by investigators during the operation include the Illicit Arms Records and Tracing Management System (iARMS), the only global database of illicit firearms, including stolen, lost and trafficked/smuggled firearms.

    Authorities also had immediate access to the INTERPOL Ballistic Information Network (IBIN), enabling law enforcement officials to compare images of ballistic fingerprints from fired casings and projectiles to establish links between crimes worldwide.

    Tracing the history and ownership of recovered firearms provides crucial investigative leads. Every firearm is unique and can be identified by its serial number, make, model and calibre as well as by its ballistic ‘fingerprint’. Comparing ballistics evidence of recovered cartridge casings and ammunition is therefore crucial to investigations.

    During the operation, INTERPOL’s Firearms Programme was supported by INTERPOL’s Regional Bureaus in Argentina and El Salvador, its Drugs and Fugitives units, and its Command and Coordination Centre.

    More than 100 national law enforcement agencies were involved in the operation, including the collaboration of US Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) and Homeland Security Investigations (HSI), which supported participating countries.

    Participating countries: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, Paraguay, Peru, Uruguay.

    Operation Trigger IX was funded by the European Union and carried out under the framework of Project Disrupt.

    MIL Security OSI –

    August 5, 2025
  • MIL-OSI Security: Europe: Drug trafficking, organized crime increasing by “an order of magnitude”

    Source: Interpol (news and events)

    8 May 2023

    At INTERPOL’s 50th European Regional Conference, delegates have gathered to discuss common crime threats from drug trafficking to cybercrime.

    OHRID, North Macedonia – Strengthening international police cooperation to counter the rapidly escalating threat posed by organized crime networks was the key focus of INTERPOL’s 50th European Regional Conference.

    The three-day (8-10 May) conference brings together more than 140 participants from 53 countries in Europe and beyond to discuss the most pressing crime issues facing the region.

    The conference takes place in Ohrid, North Macedonia, which itself marks 30 years as an INTERPOL member country this year.

    “These past 30 years, through our membership in the world’s largest police organization, have witnessed our commitment and willingness to be engaged in global police cooperation,” said Oliver Spasovski, Minister of Interior of the Republic of North Macedonia, in remarks during the conference’s opening ceremony.

    “With the establishment of the global INTERPOL I-24/7 communication system, our country was among the first to connect with this global police family, to exchange information between members and the General Secretariat, as well as directly access global criminal databases,” the Minister added.

    Unprecedented scale

    Fueled by historic levels of drug trafficking, organized crime groups are increasingly posing a direct threat to state authority in many countries, and there is evidence that levels of violence related to these criminal networks is also increasing.

    “Organized crime is a top concern,” said INTERPOL President Ahmed Naser al-Raisi in the conference’s opening ceremony. “These transnational crimes not only threaten the safety and security of the region, but also have a spillover effect on the rest of the world.”

    Last month, INTERPOL announced its largest ever firearms trafficking operations, which saw more than 14,000 suspects arrested across Central and South America, and an unprecedented USD 5.7 billion in illegal narcotics seized.

    “Over the last five years, [drug] trafficking and consumption have increased by an order of magnitude, with Europe one of the main transit and destination markets,” said INTERPOL Secretary General Jürgen Stock.

    “We continue to see record seizures at European borders and ports, and a corresponding rise in violent crime, corruption and money laundering of unprecedented scale,” added Secretary General Stock.

    The global scale of many organized crime networks, often spanning multiple continents, has underlined that international cooperation through INTERPOL is often the only means for police in Europe and other regions to bring fugitives to justice or gather crucial intelligence.

    European crime landscape

    Beyond drug trafficking, the results of INTERPOL’s 2022 Global Crime Trend report, which surveyed police across the Organization’s 195-country membership, show that money laundering and cyber or cyber-enabled crimes also top European law enforcement’s list of concerns.

    Money laundering ranked second among the crime trends most frequently indicated by member countries in the region as posing a ‘high’ or ‘very high’ threat, with financial fraud also ranking very high.

    The report notes that the use of online tools by criminals to perpetrate financial fraud schemes has also rapidly expanded in recent years, particularly since the COVID-19 pandemic.

    Especially concerning, 76 per cent of police respondents from Europe expect online child sexual exploitation and abuse to increase or increase significantly in the next three to five years.

    The report notes that the demand for livestreaming abuse has steadily increased in recent years, likely intensifying during the pandemic. While live distance child abuse most often take place in Southeast Asia, cases in the European Union have also recently been detected.

    Keeping Europe safe

    Founded in the heart of Europe – in Vienna – during the region’s interwar period 100 years ago, INTERPOL’s history is closely intertwined with that of Europe.

    Established in a 1920s context of geopolitical upheaval and concerns of rising international crime, the Organization’s founding representatives agreed that only through collaboration could police combat transnational crime threats – a common goal shared throughout periods of political or economic tension.

    Later, in one of the Organization’s darkest chapters, the Nazis assumed control of the International Criminal Police Commission – as INTERPOL was then called – after deposing its President. In 1946, Belgium spearheaded INTERPOL’s rebuilding in the new postwar era.

    Today, European member countries remain global leaders in their use of and contribution to INTERPOL capabilities – and this activity is quickly growing. With regards to INTERPOL databases, European member countries contribute more records, undertake more searches and – crucially – receive more hits than any other region.

    New historical peaks for records, searches and hits in INTERPOL databases from European member countries were reached in 2022. In the past year alone, searches of INTERPOL databases by European law enforcement have risen by nearly a third.

    The figures underscore the fundamental place INTERPOL capabilities occupy in European countries’ approaches to keeping their communities safe.

    MIL Security OSI –

    August 5, 2025
  • MIL-OSI Analysis: Will the latest diplomatic moves to end the war in Gaza work?

    Source: The Conversation – UK – By Jonathan Este, Senior International Affairs Editor, Associate Editor, The Conversation

    This article was first published in The Conversation UK’s World Affairs Briefing email newsletter. Sign up to receive weekly analysis of the latest developments in international relations, direct to your inbox.


    It feels as if things are moving at completely different speeds in Gaza and in the outside world. From the embattled Gaza Strip the narrative is depressingly familiar. Dozens more Palestinian civilians have been killed in the past 24 hours as they try to get hold of scarce supplies of food.

    Aid agencies report that despite air drops of supplies and “humanitarian pauses” in the fighting, the amount of food getting through to the starving people of Gaza remains pitifully insufficient.

    Two more children are reported to have died of starvation, bringing the total number of hunger-related deaths to 159, according to Palestinian sources quoted by al-Jazeera.

    US envoy Steve Witkoff arrived in Jerusalem for more talks as the US president Donald Trump posted his latest bout of social media diplomacy on his TruthSocial site, a message which appears pretty faithful to the Netanyahu government’s position: “The fastest way to end the Humanitarian Crises in Gaza is for Hamas to SURRENDER AND RELEASE THE HOSTAGES!!”

    Both sides continue to reject the other side’s demands, bringing ceasefire negotiations to an effective standstill.

    In the outside world, meanwhile, events seem to be gathering pace. A “high-level conference” at the United Nations in New York brought together representatives of 17 states, the European Union and the Arab League, resulting in “a comprehensive and actionable framework for the implementation of the two-state solution and the achievement of peace and security for all”.


    Sign up to receive our weekly World Affairs Briefing newsletter from The Conversation UK. Every Thursday we’ll bring you expert analysis of the big stories in international relations.


    What first catches the eye about this proposal, which was signed by Saudi Arabia,
    Qatar, Egypt and Jordan, is that it links a peace deal with the disarming and disbanding of Hamas. It also condemns the militant group’s savage attack on southern Israel on October 23 2023, which was the catalyst for the latest and arguably most grievous chapter of this eight-decade conflict. It’s the first time the Arab League has taken either of these positions.

    The New York declaration, as it has been dubbed, envisages the complete withdrawal of Israeli security forces from Gaza and an end to the displacement of Palestinians. Government will be the responsibility of the Palestinian Authority (PA), and a conference to be scheduled in Egypt will design a plan for the reconstruction of Gaza, much of which has been destroyed in the 20-month assault by the Israel Defense Forces.

    It is, writes Scott Lucas, a “bold initiative” which, “in theory could end the Israeli mass killing in Gaza, remove Hamas from power and begin the implementation of a process for a state of Palestine. The question is whether it has any chance of success.”

    Lucas, an expert in US and Middle East politics at the Clinton Institute of University College Dublin, is not particularly sanguine about the short-term prospects for a ceasefire and the alleviation of the desperate conditions for the people of Gaza. But what it represents more than anything else, is “yet another marker of Israel’s increasing isolation”.

    He points to recent announcements that France, the UK (subject to conditions) and Canada will recognise the state of Palestine at the UN general assembly in September. The prospect of normalisation between Israel and Arab states, at the top of the agenda a few short years ago, is now very unlikely. And in the US, which remains Israel’s staunchest ally, a Gallup poll recently found that public opinion is turning against Israel and its prime minister, Benjamin Netanyahu.




    Read more:
    New peace plan increases pressure on Israel and US as momentum grows for Palestinian statehood


    But how important are the declarations by France, the UK and Canada of intent to potentially recognise Palestinian statehood, asks Malak Benslama-Dabdoub. As expert in international law at Royal Holloway University of London, who has focused on the question of Palestinian statelessness, Benslama-Dabdoub thinks that the French and British pledges bear closer examination.

    The French declaration was made on July 24 on Twitter by the president, Emmanuel Macron. Macron envisages a “demilitarised” state, something Benslama-Dabdoub sees as a serious problem, as it effectively denies the fundamental right of states to self-determination and would rob a future Palestinian state of the necessary right to self-defence.

    The declaration by the UK prime minister that Britain may also recognise Palestinian statehood in September is framed as a threat rather than a pledge. Unless Israel agrees to a ceasefire, allows the UN to recommence humanitarian efforts and engages in a long-term sustainable peace process, the UK will go ahead with recognising Palestine at the UN.

    You have to consider that the UK government’s statement said that the position has always been that “Palestinian statehood is the inalienable right of the Palestinian people”. So to frame this as a threat rather than a demand is arguably to deny that “inalienable right”.




    Read more:
    UK to recognise Palestinian statehood unless Israel agrees to ceasefire – here’s what that would mean


    Paul Rogers also sees serious problems with the pledges to recognise Palestinian statehood. Demands for Hamas to disarm and play no further role in Palestinian government he sees as a non-starter as is the thought of a demilitarised Palestine. “Neither plan has the slightest chance of getting off the ground.”

    Rogers, who has researched and written on the Middle East for more than 30 years, also thinks that without the full backing of the US there is very little chance that a peace plan could succeed.

    Rogers finds it hard to believe that Washington will change tack on the Palestinian question, “unless the US president somehow gets the idea that his own reputation is being damaged”. There’s always a chance of this. News from the Gaza Strip is relentlessly horrifying and the aforementioned polls suggest many voters are reassessing their views of the conflict. But Trump is heavily indebted for his re-election to the far-right Christian Zionist movement, who wield a great deal of power with the White House.

    The other thing that might influence the conflict is if enough of the IDF’s top brass recognise the futility of waging what has always been an unwinnable conflict. This, writes Rogers, is whispered about in Israel’s military circles and one eminent retired general, Itzhak Brik, has come out and said: “Hamas has defeated us.”

    These, writes Rogers, are currently the only routes to an end to the conflict.




    Read more:
    UK and France pledges won’t stop Netanyahu bombing Gaza – but Donald Trump or Israel’s military could


    Inside Trumpian diplomacy

    We mentioned earlier that the Canadian prime minister, Mark Carney, has also pledged to recognise the state of Palestine in September. This was immediately greeted by Trump with the threat that he does so it will derail a trade deal with the US. Whether this will cut any ice with Carney, who had to make concessions to get the trade deal done in the first place, remains to be seen.

    But there’s a broader point here, writes Stefan Wolff. As Wolff reports, this week the foreign ministers of the Democratic Republic of Congo and Rwanda got together in Washington to sign a ceasefire deal, brokered by the US. Trump also claims to have successfully ended a conflict between India and Pakistan at the end of May and hostilities between Thailand and Cambodia earlier this month.

    Meanwhile his efforts to secure peace deals, or even a lasting ceasefire, in Gaza or Ukraine have been unsuccessful.

    Wolff considers why some countries respond to Trump’s diplomatic efforts while others don’t. There are a number of reasons, principally the US president’s ability to apply leverage through trade deals or sanctions and the differing complexity of the conflicts.

    He also points to the depleted resources of the US state department, Trump’s use of personal envoys with little foreign affairs experience and the US president’s insistence on making all the important decisions himself. He concludes: “The White House simply may not have the bandwidth for the level of engagement that would be necessary to get to a deal in Ukraine and the Middle East.”




    Read more:
    Why Donald Trump has stopped some conflicts but is failing with Ukraine and Gaza


    One US government department whose resources haven’t been depleted under Donald Trump is the US Immigration and Customs Enforcement agency, known as Ice. Part of the Department of Homeland Security, Ice has been responsible for identifying and detaining non-citizens and undocumented migrants.

    Their agents carry guns, wear masks and typically operate in plain clothes, although they often wear military kit. The agency received massive funding via Trump’s One Bzig Beautiful Bill Act earlier this month, which will allow the agency to recruit hundreds, if not thousands, of new agents. The number of arrests is increasing steadily, as is the disquiet their operations are prompting in many American cities, where opposition protests are also growing.

    Dafydd Townley, an expert in US politics at the University of Portsmouth, explains how Ice operates and where it sits in Donald Trump’s plan to deport millions of illegal migrants from the US.




    Read more:
    Masked and armed agents are arresting people on US streets as aggressive immigration enforcement ramps up


    World Affairs Briefing from The Conversation UK is available as a weekly email newsletter. Click here to get updates directly in your inbox.


    – ref. Will the latest diplomatic moves to end the war in Gaza work? – https://theconversation.com/will-the-latest-diplomatic-moves-to-end-the-war-in-gaza-work-262380

    MIL OSI Analysis –

    August 5, 2025
  • MIL-OSI United Nations: Speakers Stress Economic and Social Council’s Key Role in Responding to Today’s Global Challenges, as 54-Member Organ Begins 2026 Session, Elects Bureau

    Source: United Nations MIL OSI

    The Economic and Social Council commenced its 2026 session today, and as Canada handed its presidency to Nepal, speakers pointed to the important role that the organ must play in responding to the myriad challenges of the moment.

    Opening the meeting, Robert Rae (Canada), the Council’s President for its 2025 session, noted that “we hear a lot in the UN discourse about how things are broken, how things have fallen apart, how things are unhinged”.  While not disagreeing with those assessments, he emphasized:  “Our job is not to give speeches saying how terrible things are — our job is to roll up our sleeves and fix things.”  He added that no UN agency or body “has more of a responsibility to do that than the Economic and Social Council”.

    Urging that body to take its responsibilities seriously, he recalled some of the problems that the Council addressed over the past year — the role of artificial intelligence, the situation in Haiti and development in the UN context.  “I think this Council helped,” he stated.  He also pointed out that current questions regarding the UN’s relevance are not new — some even raised them when the Organization was founded — and spotlighted, as a counterpoint, the important discourse concerning the State of Palestine during the recent high-level conference on the two-State solution.

    President Appointed, Vice-Presidents Elected for 2026 Session 

    He concluded that the new Bureau will face new challenges ahead — “that’s how the world works” — and the Council then elected, by acclamation, Lok Bahadur Thapa (Nepal) as President of the Council at its 2026 session.

    Taking his seat at the podium, Mr. Thapa directed the Council to proceed to the election of the other Bureau members for that session.  The body then elected — also by acclamation — Amar Bendjamaa (Algeria), Paruyr Hovhannisyan (Armenia), Wellington Darío Bencosme Castaños (Dominican Republic) and Héctor Gómez Hernández (Spain) to serve as Vice-Presidents.

    Mr. Thapa then delivered his inaugural statement, emphasizing:  “For Nepal, this is a historic moment.”  Recalling that his country was admitted to the UN 70 years ago, he said that assuming Presidency of the Council for the first time is a “testament to our enduring commitment to multilateralism and our aspiration to contribute meaningfully to build trust, strengthen multilateral cooperation and achieve a more just, inclusive, equitable and resilient world”.

    Yet, “the world today is navigating a ‘polycrisis’” of conflict, climate disruption, economic uncertainty and deepening inequality, he said, also pointing to renewed great Power competition, escalating cyberthreats, an off-track 2030 Agenda for Sustainable Development, surging humanitarian needs and a $4 trillion annual financing gap for developing countries.  “In this context, the role of ECOSOC has never been more relevant and important,” he stated.

    Under ‘Delivering Better’ Motto, President Outlines Priorities for Session

    Noting that his Presidency will be guided by the motto of “Delivering Better”, he underscored that doing so “is not an option — it is an imperative”.  Detailing what that motto means for Nepal, he underlined the need to strengthen multilateralism and rebuild trust, accelerate the 2030 Agenda, ensure effective coordination and coherence within the UN system, strengthen partnerships and ensure implementation and follow-up.  “ECOSOC must evolve from convening dialogue to driving measurable impact,” he urged.

    He also outlined several priorities for his presidency, including transforming agriculture and food systems to strengthen food security and rural resilience; championing digital inclusion and youth entrepreneurship; and advancing climate action and resilience.  On the latter, he said that special focus will be placed on mitigating glacial lake outburst floods and protecting vulnerable communities.  Among other initiatives, he said that his presidency will also give “due priority to promoting the interests of countries in special situations”, as “their unique vulnerabilities demand tailored solutions”.

    “ECOSOC is our place,” he stressed, encouraging all present to “bring forward your vision, your ideas and your transformative solutions”.  He added: “We must send a clear and united message — multilateralism delivers, and it delivers for everyone.”

    Following that statement, the newly elected Vice-Presidents — the representatives of Algeria, Armenia, Dominican Republic and Spain — as well as delegates from China, Australia, Djibouti, Republic of Korea, South Africa and the European Union, took the floor to thank the outgoing Bureau and express support for the incoming one.  Many specifically thanked Mr. Rae for his work over the past year.

    Speakers also acknowledged the challenges ahead and underlined the Council’s important role in addressing them at this critical juncture for development.  An observer for the Major Groups and Other Stakeholders Coordination Mechanism, for her part, underlined the need for civil society to be heard during that endeavour.

    Under-Secretary-General for Economic and Social Affairs Says Urgent Action, Stronger Cooperation Key to Advance Sustainable Development Goals

    “Through its convening power — across segments, forums and special meetings — the Council has shown its continued relevance,” said Li Junhua, Under-Secretary-General for Economic and Social Affairs.  Today’s interconnected world demands stronger cooperation to achieve sustainable solutions, he pointed out, calling for “urgent” action to advance the Sustainable Development Goals (SDGs) as only 35 per cent of targets are currently on track.

    “ECOSOC’s role is central,” he stressed, “to forge consensus, provide policy guidance and mobilize coordination action and follow-up.”  Its eightieth anniversary invites reflection, and upcoming reviews are key opportunities to ensure the realization of its full potential.  He concluded:  “I urge all Member States to continue actively engaging with the Council to advance the implementation of its mandates and the realization of the SDGs.”

    Council Adopts Provisional Agenda, Working Arrangements for Session

    Following that, the Council adopted, without a vote, its provisional agenda (document E/2026/1) and working arrangements (to be issued as document E/2026/L.1) for 2026.

    MIL OSI United Nations News –

    August 5, 2025
  • MIL-OSI USA: Early-Career Spotlight: From Astrophysics to Applied Artificial Intelligence, Hilary Egan Charts a Creative Path Through Science

    Source: US National Renewable Energy Laboratory


    Welcome to the Materials, Chemical, and Computational Science (MCCS) Early-Career Spotlight, a monthly feature showcasing NREL’s early-career researchers’ interests, motivations, and achievements. This month, features Hilary Egan, who has been a data scientist at NREL since 2020.

    When not in the lab solving AI problems, Hilary Egan enjoys outdoor activities like paddleboarding, climbing, and biking. Photo by Hilary Egan, NREL

    For Hilary Egan, a data scientist at NREL, a career in science was not a straight line but rather one shaped by curiosity, adaptability, and a deep interest in computational problem-solving.

    “I was born in Germany to Canadian parents, and we moved around a lot throughout Canada and the United States,” Egan said. “When it came time for college, I landed at Michigan State University, majoring in physics with minors in math and computer science. I dabbled in experimental physics and worked in a laser lab early on, but honestly, I was a little too clumsy for it. I wanted something that connected all my interests.”

    That desire to connect the dots led Egan to computational physics, where she found her stride.

    “I started working at the high-performance computing center on campus and eventually joined an astronomy lab doing computational research—I absolutely loved it,” she said. That experience inspired her to pursue a Ph.D. in astrophysics and planetary science at the University of Colorado Boulder, with a strong focus on computation.

    From Fellowship to National Laboratory Career

    Egan’s graduate work was supported by the U.S. Department of Energy Computational Science Graduate Fellowship, a pivotal experience that introduced her to the national laboratory system.

    “Through the fellowship, I had the opportunity to intern at NREL. I wanted to challenge myself and get outside my comfort zone, and NREL’s mission really resonated with me,” she said. “I was also curious about artificial intelligence (AI), which was just starting to gain momentum. During my internship, I worked on using AI to predict data center loads and align them with renewable energy availability. It was a great experience, and I was lucky to come back to NREL after finishing my Ph.D. I’ve been here ever since.”

    Today, Egan applies her expertise in AI and computational science to a wide range of energy challenges.

    “My work spans applied AI and computational methods across NREL’s mission space—from enhancing energy efficiency in data centers to using AI to accelerate building retrofits to developing autonomous laboratory systems,” she said.

    This year, she is on detail to the U.S. Department of Energy Office of Energy Efficiency and Renewable Energy, where she is helping coordinate an agencywide AI strategy.

    Embracing Growth, in Science and Beyond

    What Egan enjoys most about her work is the constant opportunity to learn.

    “I love getting to be a bit of a scientific dilettante,” she said. “I wasn’t interested in narrowing my focus to one small corner of science for my entire career. At NREL, I get to explore new areas and work with incredibly smart, passionate people who care deeply about the mission. It’s really inspiring.”

    Egan credits strong communication skills as one of the most valuable tools in her professional toolkit.

    “To me, scientific communication means understanding your audience, writing clearly, and giving compelling presentations,” she said. “I’ve developed those skills through everything from taking writing-focused liberal arts courses in college to writing science blogs and even doing community theater. Getting feedback from different audiences is key—it teaches you where the message isn’t landing and why.”

    Outside the lab, Egan brings the same curiosity and enthusiasm to her free time.

    “I’m definitely a serial hobby picker-upper,” she said. “I love climbing, mountain biking, birding, and paddleboarding. I also read constantly, and I’ve spent years playing and coaching competitive ultimate frisbee. Lately, I’ve been sewing and just started pottery classes. I kind of run my free time like a kid at summer camp!”

    From astrophysics to AI-driven energy solutions, Egan exemplifies the spirit of scientific exploration and innovation that drives NREL forward.

    Learn more about NREL’s computational science and AI research.

    MIL OSI USA News –

    August 5, 2025
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