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Category: Eurozone

  • MIL-OSI Analysis: EU efforts to measure companies’ environmental impacts have global effects. Here’s how to make them more just

    Source: The Conversation – France – By Mira Manini Tiwari, Research Associate at the Robert Schuman Centre for Advanced Studies, European University Institute

    If you choose to buy a sustainable product at the supermarket, or invest in a sustainable portfolio at your bank, how far does that sustainability reach? Does the product’s “sustainable” label account for the environmental and labour costs where the raw materials were extracted? Does the portfolio include renewable energy in countries where the investment is needed most?

    In the EU, whether you are an individual or represent a company or financial institution, these questions are governed by the bloc’s non-financial reporting (NFR) regulations. The latest ones include the European Sustainable Reporting Standards (ESRS), which are gradually coming into force through 2029. The ESRS set out reporting standards and requirements, while the Corporate Sustainability Reporting Directive (CSRD) determines which companies these standards apply to, to what extent, and when.

    These EU regulations also have strong implications for the Majority World, the countries and territories outside Europe and North America where most people live, at a time when global, systemic policy effects are more important than ever. As supply chains become longer and more interconnected, and as communities involved in them confront the fragilities of economic, political and climate shifts, the regulations that govern the sustainability of these chains and that enable or prohibit participation in them must be crafted and implemented to minimise harm to the most vulnerable.

    In an article in Environment and Development Economics, my co-authors and I developed a set of proposals to improve the global sustainability of the NFR regulations. These call for collaborative development of regulations across the value chain, better data accessibility, measuring of and accounting for cross-border environmental damage, and greater integrity and engagement from financial actors.


    A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!

    Cooperation, not compliance

    As the ESRS come into force, reporting requirements are being applied to companies’ full value chains. This means that Majority World actors, such as those that extract raw materials for European products, may be indirectly subjected to the NFR regulations. This is important, as it holds companies and consumers, EU and non, accountable for the ethics of the goods and services they rely on. However, when regulations are built without directly involving those they will affect, they risk causing collateral, longer-term damage. For example, reporting requirements that feel inaccessible to smaller organisations can foster distrust and backlash, or cause companies to withdraw from contexts where data are less accessible, taking away key sources of income for communities.

    While global climate negotiations have come under public scrutiny for their Minority World dominance, there has been relatively less scrutiny of global organisations governing financial and corporate sustainability standards. On their boards, the Majority World is conspicuous by its absence, demonstrating the dearth of attention to its agency in enabling greater sustainability, both locally and globally. European investors and policymakers are already shifting capital from the Majority World back to the EU in response to the NFR regulations, citing the difficulty of accounting for activities along the length of value chains. The damage falls on livelihoods, industries and essential investments, such as in renewable energy, which can suddenly disappear.

    Developing NFR regulations in collaboration with all stakeholders, rather than only at the top, can provide a regulatory landscape that is, from the outset, more implementable, accessible and effective in the long run.

    Democratic data and digitalisation

    Efficacy in global NFR regulations relies on global data cooperation, which could lower the administrative burden on those reporting and enable greater accountability. The increasing number of EU NFR regulations do not exist in a vacuum: they have been accompanied by shifts in global regulations and a proliferation of national regulations. With regulations expanding to cover the full value chain, actors are increasingly likely to be subjected to multiple regulatory bodies, or have to provide data to reporting entities upstream. The time, financial resources and practical challenges involved in identifying, collecting, processing and sharing data are considerable, both for those submitting data and those receiving and verifying them. This makes divestment or significant losses more likely. Furthermore, the expansion of regulations can result in isolated streams of data and closed-circuit processes, which, in turn, cut out civil society organisations and individuals who use data to help hold firms to account for their social and environmental responsibilities.

    Aside from EU calls for a European Single Access Point for corporate data, Majority World contexts offer particularly fertile ground for reimagining and building data infrastructures. Digitalisation in low- and middle-income countries is growing rapidly, and demonstrates the ability to make digital financial and business instruments democratic and accessible to those with the fewest resources. Such efforts should involve statisticians and local data experts from the outset to determine and harmonise appropriate data, along with transnational entities with the mandate of establishing links across data systems.

    Support for international emissions accounting

    Corporate reporting on environmental impacts must be accompanied by their reduction. Indeed, the work and transparency required to identify impacts in the first place, let alone mitigate them, underpins decisions to simply detach from the system, moving economic activity to local contexts where impacts are more traceable.

    Firms that cannot afford to bring their activities onshore must account for emissions that occur from assets not directly under their ownership or control, which are known as Scope 3 emissions. In some cases, these emissions constitute well over half of a firm’s total value chain emissions. However, the implementation of the ESRS has designated the reporting of Scope 3 emissions, and climate impacts in general, to be largely discretionary, under the condition that firms provide evaluations of the economic and material implications of a given activity in their value chains.

    The glaring gaps between some firms’ targets, actions and declarations are in part enabled by reporting systems that allow the omission of more distant climate risks and impacts, maintaining the misalignment between climate pledges and actions aimed at achieving them. While the number of firms showing readiness to comply with Scope 3 accounting is increasing, data on global investor preferences suggests that investors do not necessarily prioritise companies’ performance on these emissions when making investment decisions. For ethics to exist on the ground, they must be prioritised in financial flows.

    Investment with integrity

    In light of the above, financial institutions have a core responsibility to engage with NFR. These institutions’ economic leverage and centrality in the value chains and activities of several sectors give them incentivising power to catalyse a shift from the submission of reports to the building of living data systems and the achievement of fuller value chain accountability. Currently, many investors are not willing to accept reductions in their returns in exchange for the pursuit of social or environmental goals. Surveys suggest this is in part due to perceptions of low quality of environmental information, limited ability to assess the data received, and the difficulty of making investment decisions accordingly. In the current landscape of Minority World-led reporting, such mistrust is likely to be greater with respect to Majority World data, reiterating the need for data systems and reporting mechanisms built on equal footing.

    Financial institutions can operate proactively, using their privileged access to data to bridge Minority and Majority World actors engaging in sustainable practices, such as microfinance bodies, local communities and relevant investors. Doing so could plug, at least in part, an information and trust gap that can hinder Minority World firms’ investment in unfamiliar contexts.

    Regulating for whom?

    The research underpinning our article initially involved a recommendation on streamlining and supporting reporting by small and medium enterprises (SMEs), which account for more than 60% of the EU’s corporate emissions. For these firms, especially, regulators face a critical balance between lowering the entry barrier of the reporting ecosystem and setting robust environmental targets. The nature, data points and timelines of reporting under the CSRD are currently under review following calls for simplification and greater support, and decision-makers are wrestling with the tension between accessibility and integrity.

    Our work also included a recommendation that turns from the supply side, the focus of the preceding proposals, to the demand side: the data and sustainability literacy of the individual who walks into the supermarket to buy that sustainable product, or wants family investments to do more good than harm. Across sectors – public policy, investment and citizen engagement – resources must be dedicated to these literacies, so that actors are better placed to hold each other to account. Regulation becomes easily abstracted, reduced to figures and PDFs, databases and scores. Beneath each regulation is a world of citizens whose homes, livelihoods and health depend on them.

    The author was affiliated with the University of Siena during the period in which she and her colleagues did the original work for the scholarly article that is mentioned in this piece. The author’s affiliation came via a project that, overall, was financed by the Italian National Recovery and Resilience Plan (PNRR). The scholarly article and the present article were not outputs for the project.

    – ref. EU efforts to measure companies’ environmental impacts have global effects. Here’s how to make them more just – https://theconversation.com/eu-efforts-to-measure-companies-environmental-impacts-have-global-effects-heres-how-to-make-them-more-just-261226

    MIL OSI Analysis –

  • MIL-OSI Analysis: EU efforts to measure companies’ environmental impacts have global effects. Here’s how to make them more just

    Source: The Conversation – France – By Mira Manini Tiwari, Research Associate at the Robert Schuman Centre for Advanced Studies, European University Institute

    If you choose to buy a sustainable product at the supermarket, or invest in a sustainable portfolio at your bank, how far does that sustainability reach? Does the product’s “sustainable” label account for the environmental and labour costs where the raw materials were extracted? Does the portfolio include renewable energy in countries where the investment is needed most?

    In the EU, whether you are an individual or represent a company or financial institution, these questions are governed by the bloc’s non-financial reporting (NFR) regulations. The latest ones include the European Sustainable Reporting Standards (ESRS), which are gradually coming into force through 2029. The ESRS set out reporting standards and requirements, while the Corporate Sustainability Reporting Directive (CSRD) determines which companies these standards apply to, to what extent, and when.

    These EU regulations also have strong implications for the Majority World, the countries and territories outside Europe and North America where most people live, at a time when global, systemic policy effects are more important than ever. As supply chains become longer and more interconnected, and as communities involved in them confront the fragilities of economic, political and climate shifts, the regulations that govern the sustainability of these chains and that enable or prohibit participation in them must be crafted and implemented to minimise harm to the most vulnerable.

    In an article in Environment and Development Economics, my co-authors and I developed a set of proposals to improve the global sustainability of the NFR regulations. These call for collaborative development of regulations across the value chain, better data accessibility, measuring of and accounting for cross-border environmental damage, and greater integrity and engagement from financial actors.


    A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!

    Cooperation, not compliance

    As the ESRS come into force, reporting requirements are being applied to companies’ full value chains. This means that Majority World actors, such as those that extract raw materials for European products, may be indirectly subjected to the NFR regulations. This is important, as it holds companies and consumers, EU and non, accountable for the ethics of the goods and services they rely on. However, when regulations are built without directly involving those they will affect, they risk causing collateral, longer-term damage. For example, reporting requirements that feel inaccessible to smaller organisations can foster distrust and backlash, or cause companies to withdraw from contexts where data are less accessible, taking away key sources of income for communities.

    While global climate negotiations have come under public scrutiny for their Minority World dominance, there has been relatively less scrutiny of global organisations governing financial and corporate sustainability standards. On their boards, the Majority World is conspicuous by its absence, demonstrating the dearth of attention to its agency in enabling greater sustainability, both locally and globally. European investors and policymakers are already shifting capital from the Majority World back to the EU in response to the NFR regulations, citing the difficulty of accounting for activities along the length of value chains. The damage falls on livelihoods, industries and essential investments, such as in renewable energy, which can suddenly disappear.

    Developing NFR regulations in collaboration with all stakeholders, rather than only at the top, can provide a regulatory landscape that is, from the outset, more implementable, accessible and effective in the long run.

    Democratic data and digitalisation

    Efficacy in global NFR regulations relies on global data cooperation, which could lower the administrative burden on those reporting and enable greater accountability. The increasing number of EU NFR regulations do not exist in a vacuum: they have been accompanied by shifts in global regulations and a proliferation of national regulations. With regulations expanding to cover the full value chain, actors are increasingly likely to be subjected to multiple regulatory bodies, or have to provide data to reporting entities upstream. The time, financial resources and practical challenges involved in identifying, collecting, processing and sharing data are considerable, both for those submitting data and those receiving and verifying them. This makes divestment or significant losses more likely. Furthermore, the expansion of regulations can result in isolated streams of data and closed-circuit processes, which, in turn, cut out civil society organisations and individuals who use data to help hold firms to account for their social and environmental responsibilities.

    Aside from EU calls for a European Single Access Point for corporate data, Majority World contexts offer particularly fertile ground for reimagining and building data infrastructures. Digitalisation in low- and middle-income countries is growing rapidly, and demonstrates the ability to make digital financial and business instruments democratic and accessible to those with the fewest resources. Such efforts should involve statisticians and local data experts from the outset to determine and harmonise appropriate data, along with transnational entities with the mandate of establishing links across data systems.

    Support for international emissions accounting

    Corporate reporting on environmental impacts must be accompanied by their reduction. Indeed, the work and transparency required to identify impacts in the first place, let alone mitigate them, underpins decisions to simply detach from the system, moving economic activity to local contexts where impacts are more traceable.

    Firms that cannot afford to bring their activities onshore must account for emissions that occur from assets not directly under their ownership or control, which are known as Scope 3 emissions. In some cases, these emissions constitute well over half of a firm’s total value chain emissions. However, the implementation of the ESRS has designated the reporting of Scope 3 emissions, and climate impacts in general, to be largely discretionary, under the condition that firms provide evaluations of the economic and material implications of a given activity in their value chains.

    The glaring gaps between some firms’ targets, actions and declarations are in part enabled by reporting systems that allow the omission of more distant climate risks and impacts, maintaining the misalignment between climate pledges and actions aimed at achieving them. While the number of firms showing readiness to comply with Scope 3 accounting is increasing, data on global investor preferences suggests that investors do not necessarily prioritise companies’ performance on these emissions when making investment decisions. For ethics to exist on the ground, they must be prioritised in financial flows.

    Investment with integrity

    In light of the above, financial institutions have a core responsibility to engage with NFR. These institutions’ economic leverage and centrality in the value chains and activities of several sectors give them incentivising power to catalyse a shift from the submission of reports to the building of living data systems and the achievement of fuller value chain accountability. Currently, many investors are not willing to accept reductions in their returns in exchange for the pursuit of social or environmental goals. Surveys suggest this is in part due to perceptions of low quality of environmental information, limited ability to assess the data received, and the difficulty of making investment decisions accordingly. In the current landscape of Minority World-led reporting, such mistrust is likely to be greater with respect to Majority World data, reiterating the need for data systems and reporting mechanisms built on equal footing.

    Financial institutions can operate proactively, using their privileged access to data to bridge Minority and Majority World actors engaging in sustainable practices, such as microfinance bodies, local communities and relevant investors. Doing so could plug, at least in part, an information and trust gap that can hinder Minority World firms’ investment in unfamiliar contexts.

    Regulating for whom?

    The research underpinning our article initially involved a recommendation on streamlining and supporting reporting by small and medium enterprises (SMEs), which account for more than 60% of the EU’s corporate emissions. For these firms, especially, regulators face a critical balance between lowering the entry barrier of the reporting ecosystem and setting robust environmental targets. The nature, data points and timelines of reporting under the CSRD are currently under review following calls for simplification and greater support, and decision-makers are wrestling with the tension between accessibility and integrity.

    Our work also included a recommendation that turns from the supply side, the focus of the preceding proposals, to the demand side: the data and sustainability literacy of the individual who walks into the supermarket to buy that sustainable product, or wants family investments to do more good than harm. Across sectors – public policy, investment and citizen engagement – resources must be dedicated to these literacies, so that actors are better placed to hold each other to account. Regulation becomes easily abstracted, reduced to figures and PDFs, databases and scores. Beneath each regulation is a world of citizens whose homes, livelihoods and health depend on them.

    The author was affiliated with the University of Siena during the period in which she and her colleagues did the original work for the scholarly article that is mentioned in this piece. The author’s affiliation came via a project that, overall, was financed by the Italian National Recovery and Resilience Plan (PNRR). The scholarly article and the present article were not outputs for the project.

    – ref. EU efforts to measure companies’ environmental impacts have global effects. Here’s how to make them more just – https://theconversation.com/eu-efforts-to-measure-companies-environmental-impacts-have-global-effects-heres-how-to-make-them-more-just-261226

    MIL OSI Analysis –

  • MIL-OSI Analysis: Immigrants in Europe and North America earn 18% less than natives – here’s why

    Source: The Conversation – Global Perspectives – By Are Skeie Hermansen, Professor of Sociology, University of Oslo

    F Armstrong Photography/Shutterstock

    As many countries grapple with ageing populations, falling birthrates, labour shortages and fiscal pressures, the ability to successfully integrate immigrants is becoming an increasingly pressing matter.

    However, our new study found that salaries of immigrants in Europe and North America are nearly 18% lower than those of natives, as foreign-born workers struggle to access higher-paying jobs. To reach this conclusion, we analysed the salaries of 13.5 million people in nine immigrant-receiving countries: Canada, Denmark, France, Germany, the Netherlands, Norway, Spain, Sweden and the United States. Data was taken from the period of 2016 to 2019.

    Immigrants in these countries earned less primarily because they were unable to access higher-paying jobs. Three-quarters of the migrant pay gap was the result of a lack of access to well-paid jobs, while only one-quarter of the gap was attributed to pay differences between migrant and native-born workers in the same job.

    Spain has the largest gap, while Sweden’s is the smallest.
    Author’s own elaboration

    The high-income countries we examined in Europe and North America all face similar demographic challenges, with low fertility rates resulting in an ageing population and labour shortages. Pro-natalist policies are unlikely to change this demographic destiny, but sound immigration policies can help.

    Across these countries with vastly different labour market institutions and immigrant populations, a common theme emerged: countries are not making good use of immigrants’ human capital.

    Stark regional differences

    We found that immigrants earn 17.9% less than natives on average, although the pay gap varied widely by country. In Spain, a relatively recent large-scale receiver of immigrants, the pay gap was over 29%. In Sweden – a country where many employed immigrants find work in the public sector – it was just 7%. These results don’t include immigrants who are unemployed or in the informal economy.

    Where immigrants were born also mattered. The highest average overall pay gaps were for immigrants from sub-Saharan Africa (26.1%) and the Middle East and North Africa (23.7%). For immigrants from Europe, North America and other Western countries, the difference in average pay compared to natives was a much more modest 9%.

    Migrant pay gaps according to region of origin. The minus sign (−) before figures indicates that immigrants earn less than natives. Note that data for second-generation immigrants is unavailable in France, Spain and the US.
    Author’s own elaboration

    Our results suggest that the children of immigrants faced substantially better earning prospects than their parents. For the countries where second-generation data was available – Canada, Denmark, Germany, Netherlands, Norway and Sweden – the gap narrowed over time, and the children of immigrants had a substantially smaller earnings gap, earning an average of 5.7% less than workers with native-born parents.

    The struggle to access higher-paying jobs

    Beyond quantifying the gap, we wanted to understand the roots of pay disparities. To create better policies, it is important to know whether immigrants are paid less than natives when they’re doing the same job in the same company, or whether these differences arise because immigrants typically work in lower-paying jobs.

    By a wide margin, we found that immigrants end up working in lower-paying industries, occupations and companies; three-quarters of the gap was due to this type of labour-market sorting. The pay gap for the same work in the same company was just 4.6% on average across the nine countries.

    These differences represent a failure of immigration policy to incorporate immigrants, as immigrants are relegated to jobs where they cannot contribute to their full potential. Our analyses rule out that the lack of access to higher-paying jobs simply reflects a difference in skill between immigrants and native-born workers. We also found that the size of the pay gap and the key role of unequal access to well-paid jobs is similar for immigrants with and without a university education.

    This means that the immigrant-native pay gap in large part represents a market inefficiency and policy failure, with significant social consequences for both immigrants and immigrant-receiving countries.



    Leer más:
    What Britons and Europeans really think about immigration – new analysis

    Policy implications

    Although equal pay for equal work policies may seem like a viable solution, they won’t close the immigrant pay gap. This is because they only help those who have already secured work, but immigrants face barriers to employment that begin long before even applying for a job. This includes convoluted processes to validate university degrees or other qualifications, and exclusion from professional networks.

    The policy focus should therefore be on improving access to better jobs.

    To make this happen, governments should invest in programmes such as language training, education and vocational skills for immigrants. They should ensure immigrants have early access to employment information, networks, job-search assistance and employer referrals. They should implement standardised and transparent recognition of foreign degrees and credentials, helping immigrants to access jobs matching their skills and training.

    This is particularly important for Europe as it races to attract – and retain – skilled immigrants who may be having second thoughts about the US in the Trump era. In the European Union, around 40% of university-educated non-EU immigrants are employed in jobs that do not require a degree, an underutilisation of skills known as brain waste.

    Some countries are already taking steps to remedy this. Germany’s Skilled Immigration Act – which took effect in 2024 – allows foreign graduates to work while their degrees are being formally recognised. In 2025, France reformed its Passeport Talent permit to attract skilled professionals and address labour shortages, especially in healthcare.

    These kinds of policies help ensure that foreign-born workers can contribute at their full capacity, and that countries can reap the full benefits of immigration in terms of productivity gains, higher tax revenue and reduced inequality.

    If immigrants can’t get access to good jobs, their skills are underutilised and society loses out. Smart immigration policy doesn’t end at the border – it starts there.

    Are Skeie Hermansen has received funding from the European Research Council (ERC) under the European Union’s
    Horizon 2020 research and innovation programme (grant agreement no. 851149), the Research Council of Norway (grant 287016), and the Center for Advanced Study at The Norwegian Academy of Science
    and Letters (Young CAS grant 2019/2020).

    Marta M. Elvira receives funding from the Spanish Ministry of Science and Innovation, grant PID2020-
    118807RB-I00/AEI /10.13039/501100011033

    Andrew Penner no recibe salario, ni ejerce labores de consultoría, ni posee acciones, ni recibe financiación de ninguna compañía u organización que pueda obtener beneficio de este artículo, y ha declarado carecer de vínculos relevantes más allá del cargo académico citado.

    – ref. Immigrants in Europe and North America earn 18% less than natives – here’s why – https://theconversation.com/immigrants-in-europe-and-north-america-earn-18-less-than-natives-heres-why-261188

    MIL OSI Analysis –

  • MIL-OSI NGOs: Ireland: Amnesty’s head urges Irish government to press ahead with Occupied Territories Bill

    Source: Amnesty International –

    Following a two-day visit in which she met with Ireland’s head of state and head of government, among other senior officials, Amnesty International’s Secretary General Agnès Callamard said:

    “While the EU has betrayed its principles through its shameful decision not to suspend the EU-Israel Association Agreement, we applaud Ireland for its bold efforts to stop Israel’s genocide against the Palestinians in Gaza. The EU’s refusal to take action to hold Israel accountable highlights the need for Ireland and other likeminded member states to urgently take unilateral or concerted steps to bring their actions in line with international law, which takes precedence over both EU and national law.

    “We urge the Irish government to press ahead quickly with the Occupied Territories Bill to demonstrate that when the EU fails to act on its values, principled states like Ireland will take a stand. The bill would be a powerful, much-needed tool for international justice and must be strengthened to include banning all imports and exports of goods and services to and from Israeli settlements in illegally occupied Palestinian territory, as well as investments in them.

    Ireland must stay firm in its convictions and commitment to justice

    “Despite the fearmongering and efforts by certain parties to derail the bill, Ireland must stay firm in its convictions and commitment to justice. This legislation is rooted in international law and would enable Ireland to fully comply with the International Court of Justice’s July 2024 advisory opinion on Israel’s unlawful occupation of Palestinian territory.

    “Passage of the bill would set a strong example to EU states to unilaterally suspend all forms of cooperation with Israel that may contribute to its grave violations of international law. It cannot be ‘business as usual’ while Palestinians are starved and slaughtered while seeking aid or under relentless Israeli attacks in Gaza, or killed and forcibly displaced by state-backed Israeli settler violence, devastating military operations and suffocating movement restrictions in the West Bank.

    This would set a strong example to EU states to unilaterally suspend all forms of cooperation with Israel that may contribute to its grave violations of international law

    “From its own experiences of colonization, famine and conflict to its leading role in international efforts to end apartheid in South Africa, Ireland has repeatedly shown that it can stand up to bullies and consistently punched above its weight in global diplomacy. Its principled stance on Israel’s genocide against the Palestinians in Gaza is another milestone and further proof that Ireland will not tolerate the destruction of the rules-based order so painstakingly built over the last 80 years.

    “We applaud Ireland for being one of the few European states to strongly condemn Israel’s genocide against Palestinians in Gaza and other crimes under international law committed in Israel and the Occupied Palestinian Territory, and for its courageous calls for concrete action to stop the bloodshed and carnage. In doing so, Ireland has acted as a vital counterweight to those states still arming Israel, excusing its atrocities and enabling its lasting impunity.”

    We applaud Ireland for for its courageous calls for concrete action to stop the carnage

    During her visit to Dublin on 16 and 17 July, Agnès Callamard met with President Micheal D. Higgins, Taoiseach Micheál Martin, Attorney General Rossa Fanning, Senator Frances Black, and Liam Herrick, the Chief Commissioner of the Irish Human Rights and Equality Commission, as well as local human rights defenders and civil society organizations.

    MIL OSI NGO –

  • MIL-OSI: Remittix Announces Imminent Launch of Ethereum-Based Crypto-to-Fiat PayFi Protocol, Unveils $250,000 Community Giveaway

    Source: GlobeNewswire (MIL-OSI)

    KOŠICE, Slovakia, July 18, 2025 (GLOBE NEWSWIRE) — Remittix, a next-generation PayFi protocol built on the Ethereum blockchain, today announced the imminent launch of its real-world crypto-to-fiat payment solution. The platform, which enables users to send crypto and settle in fiat across global bank accounts, mobile wallets, and payment rails, is set to go live in the coming weeks. In celebration of the upcoming launch, Remittix has also kicked off a $250,000 giveaway campaign to reward early supporters and build community engagement.

    The announcement comes amid heightened activity on the Ethereum network, with ETH trading at a five-month high of $3,350 and open interest rising sharply. Remittix leverages Ethereum’s smart contract infrastructure to enable near-instant cross-border settlements, with built-in compliance layers designed for regional licensing in Africa and Southeast Asia.

    “Cross-border remittance remains one of the most underserved areas in both traditional and decentralized finance,” said a spokesperson from Remittix. “We’re excited to roll out a solution that brings together speed, cost-efficiency, and real-world applicability while maintaining decentralization.”

    Key Highlights:

    • Launch-Ready Protocol: Real-time crypto-to-fiat conversion infrastructure developed on Ethereum.
    • Global Remittance Use Case: Supports fiat delivery to local banks and wallets across emerging markets.
    • Strong Investor Backing: Over $16.3 million raised and 550 million tokens sold to date.
    • Governance-Driven: Built with smart contracts supporting DAO-based upgrades and community input.
    • Launch Giveaway: A $250,000 prize pool is now live via Gleam.io to engage users ahead of the full rollout.

    The Remittix protocol is part of a growing trend in PayFi (Payment Finance), a new category in DeFi focused on merging blockchain innovation with traditional financial use cases. As Ethereum continues to evolve, solutions like Remittix are increasingly viewed as critical bridges between Web3 and everyday financial activity.

    Giveaway and Participation:

    To participate in the official Remittix $250,000 giveaway, users can visit: https://gleam.io/competitions/nz84L-250000-remittix-giveaway
    More information on the project and presale details is available at https://remittix.io/

    Follow Remittix on social media: https://linktr.ee/remittix

    Contact:
    Andy Černý
    andy@remittix.io

    Disclaimer: This content is provided by Remittix. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

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    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/93c9e09c-2a89-4f2c-9778-cc596196c52b

    https://www.globenewswire.com/NewsRoom/AttachmentNg/6d6500b3-001c-4d9a-8d3e-569c6112e2d3

    https://www.globenewswire.com/NewsRoom/AttachmentNg/19574445-db94-4cc2-8c22-76718998ddcc

    The MIL Network –

  • MIL-OSI United Kingdom: UK, Philippines launch coalition to boost emerging market finance

    Source: United Kingdom – Executive Government & Departments

    World news story

    UK, Philippines launch coalition to boost emerging market finance

    The UK and the Philippines have partnered to launch a groundbreaking initiative to channel more global capital into emerging markets.

    The ‘EMDE Public Markets Coalition’ was unveiled at the 4th International Conference on Financing for Development (FFD4) in Seville this July, as part of a Sevilla Platform for Action Initiative on ‘Public Markets Mobilisation for Development. This initiative aims to redirect a portion of the $255 trillion flowing through listed equity and bond markets toward crucial development projects in emerging markets and developing economies. 

    With only a small fraction of global public market investments currently reaching emerging economies like the Philippines, even a modest shift could transform financing for climate resilience and sustainable development projects. The Coalition will develop a Toolkit to guide development banks, finance institutions, and investors in mobilizing climate and development investments in emerging markets through public markets. This will help direct more capital to the Philippines and and similar economies.

    The Government of the Philippines endorses the initiative, co-hosted its FFD4 launch event, and will play a key role in its implementation. The initiative will be co-implemented by the Government of Norway and the African Development Bank (AfDB). It has also received endorsement from the Governments of the Netherlands, New Zealand, Switzerland, the Inter-American Development Bank, the Asian Development Bank (ADB), the Organisation for Economic Co-operation and Development (OECD), British International Investment (BII) and the Centre for Development Finance Studies (CDFS). 

    Undersecretary Joven Balbosa of the Philippines’ Department of Finance said:

    The Philippines is proud to continue our partnership with the UK to mobilise finance toward sustainable development and climate action. Public markets are powerful vehicles for mobilisation, with both equity and debt financing proving crucial in meeting climate and development targets.

    The Rt Hon Baroness Chapman of Darlington, UK Minister for International Development, highlighted the coalition’s significance:

    We need to see a transformation in how the public and private sectors work together to mobilise capital to power development progress. Even a small shift in the way this money is invested could unlock massive change and new opportunities for investors, ensuring more countries, communities, and businesses have the finance they need to solve the most difficult development challenges.

    Commissioner McJill Bryant Fernandez of the Philippines’ Securities and Exchange Commission noted that:

    The launch of the EMDE Public Markets Coalition is a timely step toward mobilizing global capital for sustainable development. For the Philippines, improving market access and de-risking investments enable more Filipino enterprises to secure long-term financing for climate-smart growth. We hope to see more countries and partners join us in scaling this agenda to create transformative change across emerging markets.

    The initiative aligns with the UK Government’s Plan for Change, which aims to make Britain a clean energy superpower while helping partners, like the Philippines, build climate resilience. 

    British Ambassador to the Philippines Laure Beaufils highlighted the strong partnership between the UK and the Philippines:

    I am proud that the UK and Philippines have teamed up to show how public markets can boost financing for sustainable development projects, thereby driving quantifiable, lasting change. Together, we have shown that the public sector has a role to play in facilitating this, by creating robust ecosystems that enable more private capital to be redirected to sustainable investments.

    The UK’s MOBILIST programme, which provides capital and technical assistance to support companies in emerging markets to list on stock exchanges, serves as a foundation for the new coalition. This approach has already proven effective in channelling institutional investment toward development projects. In 2024, MOBILIST invested $12.5 million in the Initial Public Offering (IPO) of Citicore Renewables Energy Corporation, a renewable energy developer and operator of solar, hydro, and wind energy platforms in the Philippines. MOBILIST’s investment played a catalytic role in the IPO, which was valued at a total of $86 million and also attracted private institutional investors.

    Updates to this page

    Published 18 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Africa: Health leaders to convene in Mozambique for innovation and action for immunization and child survival forum 2025

    Source: APO

    Global health leaders, policymakers, philanthropists, researchers, and advocates will gather in Maputo from 22–24 July 2025 for the Innovation and Action for Immunization and Child Survival Forum 2025 (https://www.ChildHealthForum2025.com/). This is a high-level convening aimed at accelerating progress toward expanding access to life-saving immunization and ending preventable child deaths across sub-Saharan Africa.

    Download document: https://apo-opa.co/3TJOhqP

    Hosted by the Governments of Mozambique and Sierra Leone, and in partnership with the Government of Spain, “la Caixa” Foundation, the Gates Foundation and UNICEF, the forum comes just five years to the Sustainable Development Goals (SDGs) 2030 deadline.

    “Mozambique is proud to host this critical gathering, at a time when the world is at a crossroads,” said Hon. Dr. Ussene Isse, Minister of Health of Mozambique. “Despite the unacceptable reality that we lose millions of children globally to preventable diseases each year, the rate of progress in reducing these deaths has slowed in the past 10 years, precisely when we need to accelerate. The decisions we make now will determine whether we keep our promise to every child to survive, to thrive, and to reach their fifth birthday. We must act boldly, together, and without delay.”

    A Defining Moment for Child Survival

    Incredible progress has reduced the number of deaths of children under the age of five by half since 2000. Yet today, almost five million children are still dying from preventable causes each year—58% of them in Sub-Saharan Africa. Preventable infectious diseases like pneumonia, malaria, diarrhea, and meningitis remain the global leading causes of death among children under five, while malnutrition contributes to 45% of all child deaths globally.

    “We cannot afford to let progress stall. We have a golden opportunity to dramatically expand our impact through bold leadership, sustainable financing, and coordinated strategies and alignment to reach the most vulnerable populations,” said Hon. Dr. Austin Demby, Minister of Health, Sierra Leone. “Breakthrough innovations like malaria vaccines, point of care tests, and ready-to-use therapeutic foods formulated to address malnutrition are improving our capacity to save young lives and prevent childhood deaths. At the same time, by weaving these innovations into our Life Stages Approach, we make sure every child receives the right intervention at the right time, whether it is a vaccine at birth, nutrition support during a growth setback, or follow-up care through the continuum of care as they grow; ensuring no child or opportunity is missed.”

    The convening will spotlight ongoing record levels of global funding cuts to public health programmes, including immunization. With increasing budgetary pressure within low- and middle-income countries and little room to immediately raise domestic and philanthropic funding to plug these gaps, the impact of these cuts is even more acute, especially in fragile and conflict-affected settings where children are nearly three times more likely to die before reaching age five.

    “This forum will be another milestone in our collective effort to build a world where every child gets to grow up and thrive. It’s a unique opportunity to continue fighting inequalities for the most vulnerable populations, always aligned with the Sustainable Development Goals and the Agenda 2030,” said H.R.H. Infanta Cristina, Director of the International Area at the “la Caixa” Foundation.

    Mapping a Clear Path Forward

    The forum will offer a platform for stakeholders to share best practices, explore how to scale up innovations, diagnostic tools and nutrition solutions to reach all children, especially the most vulnerable in conflict-afflicted and climate-impacted settings. Speakers will also emphasize strengthening service delivery through integrated child health platforms, community health worker programs and digital tools, as well as building sustainable financing by mobilizing domestic resources, pooling international aid, and exploring innovative financing mechanisms.

    “Every child deserves the chance to grow up healthy and thrive. Thanks to proven solutions and innovative care, we’ve made remarkable progress in helping more children survive their earliest, most vulnerable years. By investing in strong, integrated primary health-care systems and reaching every child with life-saving care—no matter who they are or where they live—we can save millions more young lives and build stronger families, communities, and futures,” said Dr. Yasmin Ali Haque, Director of Health, UNICEF.

    The convening will build on the momentum of the 2020 and 2023 Global Fora on Childhood Pneumonia (https://apo-opa.co/44UxUg0) to foster impactful partnerships, strengthen political will and mobilize Africa’s political and public health leaders to ensure all children are protected against the leading threats to their survival.

    “Despite remarkable progress, millions of children remain unreached, lacking access to vaccines or treatments for preventable diseases. This forum is a rallying cry for Africa and the world, because the final chapter in the global fight for child survival will be written on this continent. We must protect our children with the tools we have, invest in the innovations we need, and ensure no child is left behind,” said Keith Klugman, Director, Pneumonia and Pandemic Preparedness, Gates Foundation.

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

    For interview requests, please contact:

    About the Innovation and Action for Immunization and Child Survival Forum 2025:
    The Innovation and Action for Immunization and Child Survival Forum 2025 will bring 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. Accordingly, it will focus 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.

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

    Media files

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    MIL OSI Africa –

  • MIL-OSI Europe: Day of International Criminal Justice (17.07.25)

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    On this Day of International Criminal Justice, which marks the anniversary of the adoption of the treaty that established the International Criminal Court, France reaffirms its staunch commitment to the worldwide fight against impunity.

    France reiterates its commitment to promoting and protecting international law, of which the ICC – the only permanent, universal international court – is a linchpin. It has pledged to promote this Court’s impendence, impartiality, effectiveness and universality.

    We commend the work carried out by the International Residual Mechanism for Criminal Tribunals, which has made it possible to prosecute and judge the perpetrators of genocide, crimes against humanity, and serious violations of international humanitarian law in Rwanda and the former Yugoslavia. We recognize the vital contribution of hybrid courts and tribunals – among them the Kosovo Specialist Chambers, the Special Criminal Court in the Central African Republic and their predecessors – to the fight against impunity. These international courts, which work alongside national courts, help meet our shared goal of obtaining justice for the victims of the most serious crimes, preventing those crimes and supporting the reconciliation process.

    MIL OSI Europe News –

  • MIL-OSI Europe: President Meloni’s statement on establishment of a national day in memory of journalists killed because of their work

    Source: Government of Italy (English)

    It is with great satisfaction that I welcome Parliament’s unanimous approval of the bill establishing a national day in memory of journalists killed because of their work.

    From now on, 3 May will be a solemn occasion to honour those who have put their passion, professionalism and courage at the service of us all, guaranteeing citizens the right to be informed. Men and women whose precious work has allowed our eyes to see things we otherwise wouldn’t have seen. In Italy and abroad. From crisis zones to forgotten conflicts, from areas plagued by organised crime to all those physical and non-physical places that are invisible to the public. 

    I am thinking of people such as Cosimo Cristina, Mauro De Mauro, Giovanni Spampinato, Peppino Impastato, Mario Francese, Giuseppe Fava, Mauro Rostagno, Beppe Alfano, Giancarlo Siani, Walter Tobagi, Ilaria Alpi and Miran Hrovatin, Marco Luchetta, Alessandro Saša Ota, Dario D’Angelo, Antonio Russo, Enzo Baldoni, Andrea Rocchelli, Maria Grazia Cutuli, Almerigo Grilz.

    Paying tribute to these journalists is a duty, which has today become enshrined in State law and which we are committed to honouring. 

    [Courtesy translation]

    MIL OSI Europe News –

  • MIL-OSI Russia: ​The 8th China (Ordos) International Cashmere and Wool Exhibition Opened

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    On July 18, the 8th China (Ordos) International Cashmere and Wool Expo opened in Dongsheng District, Ordos City, Inner Mongolia Autonomous Region. It not only created an effective platform for exchange and cooperation in the global cashmere and wool industry, but also injected strong impetus into the high-quality development of cashmere and wool industry in Ordos.

    During the exhibition, 11 diverse activities will also be held, including a presentation on attracting investment to the cashmere industry in Ordos, which will promote the comprehensive and multi-level development of exchange and cooperation in this industry.

    It is reported that the exhibition was carefully organized into 6 large exhibition areas, which attracted more than 30 international companies from 10 countries including the UK, France, Italy, Japan, the Republic of Korea and Mongolia, as well as nearly 200 exhibitors and more than 220 buyers.

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

    .

    MIL OSI Russia News –

  • Sujeet Kalkal strikes gold at Budapest Wrestling Ranking Series

    Source: Government of India

    Source: Government of India (4)

    Indian wrestler Sujeet Kalkal on Thursday clinched the gold medal in the 65kg men’s freestyle category at the Polyak Imre & Varga Janos Memorial 2025 wrestling tournament in Budapest, Hungary.

    In the final of the 65kg men’s freestyle category, Sujeet delivered a clinical performance to defeat four-time European medallist Ali Rahimzade of Azerbaijan 5-1. His triumph marked India’s first gold medal in wrestling at any of the Ranking Series events this year. Earlier, Indian grapplers had returned empty-handed from the tournaments in Amman and Mongolia, according to Olympics.com.

    In the first period of the final, Sujeet conceded an activity point, but he raised the tempo in the second period to complete two takedowns. He secured another activity point en route to a commanding victory in the gold medal bout.

    Sujeet’s journey to the final was equally impressive. He began with a dominant 11-0 win over Paris 2024 Olympic bronze medallist Islam Dudaev of Albania in the round of 16. He then overwhelmed European silver medallist Khamzat Arsamerzouev of France in the quarter-finals, before stamping his authority with a 6-1 win over Vazgen Tevanyan of Armenia in the semi-finals.

    India added another medal in the men’s 57kg category, where Rahul clinched bronze with a 4-0 victory over Germany’s Niklas Stechele. Earlier, he had defeated Kim Sung-gwon of the Republic of Korea 5-3 in the quarter-finals, before narrowly losing a hard-fought semi-final 7-6 to the USA’s Luke Joseph Lilledahl.

    Meanwhile, India’s Udit and Vicky suffered defeats in the repechage rounds of the 61kg and 97kg divisions, respectively. The Polyak Imre & Varga Janos Memorial in Budapest is the fourth and final wrestling Ranking Series tournament of the year.

    Ranking points earned at this event will help wrestlers secure better seedings for the World Wrestling Championships, scheduled to be held in Zagreb, Croatia, in September later this year.

    India fielded wrestlers in the men’s and women’s freestyle, as well as Greco-Roman, categories at the ongoing Budapest meet, which will conclude on Sunday.

    (ANI)

  • MIL-OSI: INVL Technology terminated agreement with investment advisor

    Source: GlobeNewswire (MIL-OSI)

    INVL Technology (hereinafter – the Company) notifiesthat on 17 July 2025 it terminated the agreement with a company of the Corum group, specifically, the Zurich branch of Luxembourg-based Corum Group International S.à.r.l., which was hired to assist INVL Technology in divesting of it‘s portfolio companies before the end of the envisaged investment period. Certain terms will remain in force for the 12 month period after the termination date (tail period).

    Despite the termination of the collaboration with Corum Group, the Company continues to actively pursue the sale of its portfolio companies. Negotiations with potential buyers are ongoing, and initiated processes are not being suspended. the Company will also launch a search for new investment advisors that have expertise in business divestments.

    The decision to terminate the collaboration with Corum Group was made to provide greater flexibility in exploring alternative strategic options for the sale of the portfolio companies.

    Additional information:

    INVL Technology, a company that invests in IT businesses, decided to terminate the contract with the Zurich branch of Corum Group’s Luxembourg-based unit Corum Group International on intermediary services in the divestment of INVL Technology’s portfolio companies on 17 July 2025. Certain terms of the agreement will remain in force for a 12-month tail period.

    “Notwithstanding the challenging economy and ongoing stagnation of B2B technology companies in Europe, the US and Canada, resulting in a less-than-ideal situation in the market for divesting businesses, we have interested parties, and we are continuing the sale process. We decided to terminate the contract with our current investment advisor in order to be able to explore other divestment possibilities. We are not halting the process and Corum Group will complete negotiation processes with the parties that have expressed interest in the portfolio companies. INVL Technology will seek for other exit opportunities,” says Kazimieras Tonkūnas, the Managing Partner at INVL Technology. “The portfolio companies are performing well, their results will be reflected in the report for the first half of the year which we will publish at the end of August.” 

    INVL Technology, which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is a closed-end investment company.

    INVL Technology owns and manages the cybersecurity company NRD Cyber Security, the GovTech company NRD Companies, and the Baltic IT company Novian.

    The shares of INVL Technology are traded on the secondary list of the Nasdaq Vilnius stock exchange (INC1L).

    The person authorized to provide additional information:
    Kazimieras Tonkūnas
    INVL Technology Managing Partner
    E-mail k.tonkunas@invltechnology.lt

    The MIL Network –

  • MIL-OSI: INVL Technology terminated agreement with investment advisor

    Source: GlobeNewswire (MIL-OSI)

    INVL Technology (hereinafter – the Company) notifiesthat on 17 July 2025 it terminated the agreement with a company of the Corum group, specifically, the Zurich branch of Luxembourg-based Corum Group International S.à.r.l., which was hired to assist INVL Technology in divesting of it‘s portfolio companies before the end of the envisaged investment period. Certain terms will remain in force for the 12 month period after the termination date (tail period).

    Despite the termination of the collaboration with Corum Group, the Company continues to actively pursue the sale of its portfolio companies. Negotiations with potential buyers are ongoing, and initiated processes are not being suspended. the Company will also launch a search for new investment advisors that have expertise in business divestments.

    The decision to terminate the collaboration with Corum Group was made to provide greater flexibility in exploring alternative strategic options for the sale of the portfolio companies.

    Additional information:

    INVL Technology, a company that invests in IT businesses, decided to terminate the contract with the Zurich branch of Corum Group’s Luxembourg-based unit Corum Group International on intermediary services in the divestment of INVL Technology’s portfolio companies on 17 July 2025. Certain terms of the agreement will remain in force for a 12-month tail period.

    “Notwithstanding the challenging economy and ongoing stagnation of B2B technology companies in Europe, the US and Canada, resulting in a less-than-ideal situation in the market for divesting businesses, we have interested parties, and we are continuing the sale process. We decided to terminate the contract with our current investment advisor in order to be able to explore other divestment possibilities. We are not halting the process and Corum Group will complete negotiation processes with the parties that have expressed interest in the portfolio companies. INVL Technology will seek for other exit opportunities,” says Kazimieras Tonkūnas, the Managing Partner at INVL Technology. “The portfolio companies are performing well, their results will be reflected in the report for the first half of the year which we will publish at the end of August.” 

    INVL Technology, which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is a closed-end investment company.

    INVL Technology owns and manages the cybersecurity company NRD Cyber Security, the GovTech company NRD Companies, and the Baltic IT company Novian.

    The shares of INVL Technology are traded on the secondary list of the Nasdaq Vilnius stock exchange (INC1L).

    The person authorized to provide additional information:
    Kazimieras Tonkūnas
    INVL Technology Managing Partner
    E-mail k.tonkunas@invltechnology.lt

    The MIL Network –

  • MIL-OSI: Good customer activity and strong credit quality led to solid results for the first half of 2025. Net profit of DKK 11.2 billion

    Source: GlobeNewswire (MIL-OSI)

    Press release Danske Bank
    Bernstorffsgade 40
    DK-1577 København V
    Tel. + 45 45 14 14 00

    18 July 2025

    Page 1 of 3

    Good customer activity and strong credit quality led to solid results for the first half of 2025
    Net profit of DKK 11.2 billion

    Carsten Egeriis, Chief Executive Officer, comments on the financial results:

    “In the first half-year, we continued our robust performance and delivered solid results in line with our expectations. We saw new business customer relations being established, a continued uplift in lending and a steady development in core income, and we maintained our focus on cost management. Furthermore, credit quality remained strong, resulting in a low level of loan impairments.

    Our solid financial results and capital position enable us to be a strong financial partner, providing expert advice and standing by our customers and society in times of volatile markets.

    With our increased investments in technology and customer offerings, we continue to deliver on our Forward ’28 strategy and are well on track to meet our guidance for the full year.”

    Solid performance in uncertain environment
    Driven by good customer activity across our business and our ongoing commitment to efficiency, we achieved a net profit of DKK 11.2 billion and a return on equity of 13% in the first half of the year. These solid financial results reflect our successful execution and strategic focus in key growth areas.

    Net interest income remained steady, as the adverse effect of the sale of the personal customer business in Norway and a reduction in deposit margins was offset by enhanced lending activity and our deposit hedge strategy.

    Net fee income for the first half of the year was stable year on year, supported by growing demand for everyday banking services in the first quarter, although this demand decreased in the second quarter. Fee income related to capital markets and investment activity was impacted by the decline in investment appetite caused by the market volatility.

    On the basis of continued cost discipline, the cost trajectory is in line with the full-year 2025 guidance. Furthermore, credit quality remained strong, supported by favourable macroeconomic conditions, including the employment rate. Loan impairment charges remained low and amounted to DKK 266 million in the first half of the year.

    With prudent asset and liability management, our capital and liquidity positions remain solid, with substantial buffers well above regulatory requirements.

    “In the first half of the year, we achieved a solid financial performance, fuelled by good customer activity that led to resilient core banking income and an increase in net trading income year on year. Net profit was stable, despite the impact of rates and market volatility. Our diversified business model and operational efficiency contributed to an improved cost/income ratio of 45.4% and a return on equity of 13.0%. We are on track to meet our 2025 guidance and are progressing towards achieving our 2026 financial targets,” says Cecile Hillary, Chief Financial Officer.

    H1 2025 vs H1 2024
    Total income of DKK 27.9 billion (DKK 28.0 billion in the first half of 2024)
    Operating expenses of DKK 12.7 billion (DKK 12.8 billion in the first half of 2024)
    Loan impairments of DKK 266 million (net reversal of DKK 99 million in the first half of 2024)
    Net profit of DKK 11.2 billion (DKK 11.5 billion in the first half of 2024)
    Return on shareholders’ equity of 13.0% (13.1% in the first half of 2024)
    Total capital ratio of 22.4% and CET1 capital ratio of 18.7% (total capital ratio of 22.5% and CET1 capital ratio of 18.5% in the first half of 2024)

    Resilient macroeconomic outlook amid uncertainty
    Despite the challenges posed by geopolitical turbulence and market volatility, the macroeconomic environment in our operating markets remains robust. The Nordic economies continue to exhibit resilience.

    The economies are increasingly supported by increased household spending power and lower interest rates. However, this has not translated into improved consumer sentiment, as retail customers remain cautious and consumer confidence is low.

    According to the latest macroeconomic outlook by Danske Bank Research, we continue to expect robust economies with high employment rates and single-digit growth, particularly in Denmark.

    “Nordic businesses still have a cautiously positive outlook, and we share their view that growth is likely to become moderately higher, despite the uncertainty hanging over the global economy. Though conditions are in place with higher real incomes and lower interest rates, we do not expect a strong recovery. Households remain deeply worried about the economic situation, which could hold growth back, but there is also a potential for the situation to improve,” says Las Olsen, Head of Macro Research.

    Personal Customers
    Profit before tax amounted to DKK 4,217 million in the first half of 2025 (H1 2024: DKK 5,028 million). The decrease was mainly due to a decline in net interest income caused by lower deposit margins, a decline in fee income that was mainly the result of positive one-offs in the first half of 2024 and relatively subdued refinancing activity, as well as to slightly higher loan impairment charges. These were partly offset by rising deposit volumes and the impact of deposit hedging. Both income and operating expenses were affected by the divestment of the personal customer business in Norway. Loan levels remained stable, and deposits increased 5%.

    Business Customers
    In the first half of 2025, we saw continuously good progress in terms of customer inflow and a positive development in lending volumes, and business with existing customers remained strong across our mid-sized customer segment. Profit before tax amounted to DKK 5,085 million, an increase of 23% from the same period last year (H1 2024: DKK 4,140 million). The increase was driven by loan impairment reversals. Net fee income also increased, although the effect was offset by lower income from our leasing operations.

    Large Corporates & Institutions
    In the first half of 2025, we achieved solid financial results. Our efforts to attract new corporate customers outside Denmark and to strengthen customer relations across our markets have improved our position within cash management. Furthermore, we maintained our leadership within sustainable finance. Profit before tax decreased to DKK 4,544 million, or 9%, from the level in the same period last year, with the decrease driven by higher loan impairment charges.

    Danica 
    Net income at Danica decreased to DKK 714 million in the first half of 2025, down 25% from the level for the same period in 2024 due to a decrease in the insurance service result, which was impacted by a strengthening of provisions related to legacy life insurance products in run-off. The insurance service result for the health and accident business for the first half of 2025 recorded a loss, however, Danica saw an improvement during the first half of 2025 supported by a positive trend in the treatment and prevention of long-term illness and injury that was driven by intensified efforts with new healthcare solutions and improved digital solutions.

    Northern Ireland
    Residential mortgage lending volumes continued to grow, reflecting an increased market share of new business in Northern Ireland. Financial performance remained positive with profit before tax of DKK 1,110 million in the first half of 2025, 18% higher than for the same period last year.

    Outlook for 2025
    We maintain our guidance and expect net profit to be in the range of DKK 21-23 billion. The outlook is subject to uncertainty and depends on economic conditions.

    Danske Bank        

    Contact: Helga Heyn, Head of Media Relations, tel. +45 45 14 14 00

    Attachments

    The MIL Network –

  • MIL-OSI: Coop Pank unaudited financial results for Q2 2025

    Source: GlobeNewswire (MIL-OSI)

    By the end of the Q2 2025, Coop Pank had 218,000 customers, increased by 5,000 customers in the quarter (+2%) and by 22,000 in the year (+11%). The bank had 103,600 active customers, increased by 1,800 (+2%) in the quarter and by 8,300 (+9%) in the year.

    In Q2 2025, volume of deposits in Coop Pank decreased by 98 million euros (-5%), reaching total of 1.81 billion euros. The deliberate reduction of deposits is a result of the successful covered bond issuance carried out in the first quarter. Deposits from private clients increasing by 0.4 million euros: demand deposits decreased by 0.4 million euros and term deposits increased by 0.8 million euros. Deposits from domestic business customers decreased by 78 million euros: demand deposits decreased by 10 million euro and term deposits decreased by 68 million euros. Deposits from international deposit platform Raisin and other financing decreased by 21 million euros. Compared to Q2 2024, volume of Coop Pank’s deposits has increased by 77 million euros (+4%). In an annual comparison, share of demand deposits of total deposits has increased from 32% to 33%. In Q2 2025, the bank’s financing cost was 2.5%, at the same time last year the financing cost was 3.4%.

    In Q2 2025, net loan portfolio of Coop Pank increased by 125 million euros (+7%), reaching 1.94 billion euros. Over the quarter, the strongest growth was shown in the business loans portfolio, which increased by 82 million euros (+10%). Home loans increased by 37 million euros (+5%). The volumes of leasing portfolio increased by 3 million euros (+2%) and consumer finance portfolio increased by 2 million euros (+2%). Compared to Q2 2024, total loan portfolio of Coop Pank has grown by 322 million euros (+20%).

    In Q2 2025, overdue loan portfolio of Coop Pank was at the level 2.8%. A year ago, overdue loan portfolio was at the level of 2.2%.

    Impairment costs of financial assets in Q2 2025 were 1.4 million euros, which is 1.1 million euros more than in previous quarter and 0.1 million euros more than in Q2 2024.

    Net income of Coop Pank in Q2 2025 was 19.5 million euros, increasing by 1% in a quarterly comparison and decreasing by 5% in an annual comparison. Operating expenses reached 10.1 million euros in Q2 – operating expenses increased by 6% in the quarterly comparison and remained unchanged in the annual comparison.

    In Q2 2025, net profit of Coop Pank was 6.6 million euros, which is 16% less than in the previous quarter and 17% less than a year ago. In Q2 2025, cost to income ratio of the bank was 52% and return on equity was 12.1%.

    As of 30 June 2025, Coop Pank has 34,700 shareholders.

    Heikko Mäe, Interim Chairman of the Management Board of Coop Pank, comments the results:

    “The Estonian economy as a whole has not yet picked up new growth momentum this year. However, interest rates are stabilizing, there are signs that economic headwinds are easing, and Coop Pank’s results show that the rapid growth of a domestic bank is continuing.

    On one hand, 5% inflation has reduced consumer confidence and directly affects the purchasing power of households. The rising unemployment rate, approaching 9%, is also a negative signal. On the other hand, there are positive signs in the industrial sector, where capacity utilization is increasing thanks to the recovery of export markets and lower interest costs.

    In this economic environment, Coop Pank achieved strong results in the second quarter: the bank grew its loan portfolio by a record 125 million euros and is growing nearly twice as fast as the market. The strongest growth came from business loans and home loans. We see that both the manufacturing and real estate sectors are actively investing. Among home loan applicants, there is particularly strong demand for construction loans, and many large-scale repair and renovation works are in progress across homes in Estonia, financed through home loans. While business volumes are growing quickly, the bank’s operating costs have remained the same as a year ago, and credit losses are still minimal. This demonstrates that Coop Pank is operating efficiently and responsibly.

    Since June, the bank has taken its cooperation with Coop retail to a new level by offering a new cashback solution to shared private customers. This is an important addition to the value proposition for joint customers and is part of the bank’s recently introduced account package upgrade.

    Our results confirm that a strong local bank can grow successfully with its customers even in a challenging economic environment. We continue to provide banking services and financing solutions across all of Estonia – for households seeking stability and for businesses looking for investment opportunities.

    Growth in business volumes, the high quality of the loan portfolio, cost control, and the decline in financing costs due to the interest rate environment and scale effects resulted in a strong net profit of 6.6 million euros for Coop Pank in the second quarter. The bank’s cost-to-income ratio was 52%, and return on equity was 12.1%.”

    Income statement, in th. of euros Q2 2025 Q1 2025 Q2 2024 6M 2025 6M 2024
    Net interest income 18 003 17 930 19 319 35 933 38 400
    Net fee and commission income 1 166 1 155 1 000 2 321 2 015
    Net other income 375 225 146 600 271
    Total net income 19 544 19 310 20 464 38 854 40 686
    Payroll expenses -5 917 -5 578 -5 858 -11 496 -11 267
    Marketing expenses -453 -358 -775 -811 -1 308
    Rental and office expenses, depr. of tangible assets -777 -807 -775 -1 584 -1 570
    IT expenses and depr. of intangible assets -1 724 -1 613 -1 474 -3 337 -2 879
    Other operating expenses -1 220 -1 162 -1 208 -2 382 -2 494
    Total operating expenses -10 091 -9 519 -10 091 -19 610 -19 518
    Net profit before impairment losses 9 453 9 791 10 374 19 244 21 168
    Impairment costs on financial assets -1 367 -226 -1 224 -1 594 -1 800
    Net profit before income tax 8 086 9 565 9 150 17 650 19 368
    Income tax expenses -1 437 -1 652 -1 152 -3 088 -2 232
    Net profit for the period 6 649 7 913 7 998 14 562 17 136
               
    Earnings per share, eur 0,06 0,08 0,08 0,14 0,17
    Diluted earnings per share, eur 0,06 0,08 0,08 0,14 0,16
    Statement of financial position, in th. of euros 30.06.2025 31.03.2025 31.12.2024 30.06.2024
    Cash and cash equivalents 356 473 564 441 343 678 335 710
    Debt securities 47 832 49 536 37 751 36 980
    Loans to customers 1 943 420 1 818 109 1 774 118 1 621 000
    Other assets 36 090 34 711 33 066 32 608
    Total assets 2 383 816 2 466 796 2 188 614 2 026 298
    Customer deposits and loans received 1 816 313 1 914 526 1 886 145 1 739 709
    Debt securities issued 253 537 250 250 0 0
    Other liabilities 30 645 19 096 27 683 28 121
    Subordinated debt 63 148 63 363 63 148 63 148
    Total liabilities 2 163 642 2 247 235 1 976 977 1 830 978
    Equity 220 174 219 561 211 637 195 320
    Total liabilities and equity 2 383 816 2 466 796 2 188 614 2 026 298

    The reports of Coop Pank are available at: https://www.cooppank.ee/en/reporting

    Coop Pank will organise a webinar on 18 July 2025 at 9:00 AM, to present the financial results of Q1 2025. For participation, please register in advance at: https://bit.ly/CP-veebiseminar-registreeru-18072025

    The webinar will be recorded and published on the company’s website www.cooppank.ee and on the YouTube channel.

    Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 218,000 daily banking clients. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 320 stores.

    Additional information:
    Paavo Truu
    CFO
    Phone: +372 516 0231
    E-mail: paavo.truu@cooppank.ee

    Attachments

    The MIL Network –

  • MIL-OSI China: Britain, Germany sign defense, migration deal

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

    British Prime Minister Keir Starmer (L) shakes hands with German Chancellor Friedrich Merz at 10 Downing Street in London, Britain, on July 17, 2025. [Photo/Xinhua]

    British Prime Minister Keir Starmer and German Chancellor Friedrich Merz on Thursday signed a wide-ranging bilateral deal covering various areas including defense and migration, which is believed to be the most significant treaty between Britain and Germany since the end of World War II.

    The treaty includes security and defense items requiring the two countries to conduct joint military and training exercises, counter cyber threats and information warfare, and coordinate on arms exports.

    In the treaty, the two countries have also reaffirmed their commitment to limit global temperature to 1.5 degrees Celsius above pre-industrial levels, which is laid out in the Paris Agreement on tackling climate change and its negative impacts.

    The treaty also pledges strengthening bilateral trade within the framework of European Union-Britain agreements and the commitment to free and open markets, as well as increasing employment and growing the number of high-quality jobs.

    Dubbed as the Kensington Treaty, Starmer said it was “the first of its kind ever” between the two countries and was evidence of “the closeness of our relationship as it stands today.”

    He added that this treaty highlighted the two countries’ “strong and close relationship at a time of real volatility in the world.”

    MIL OSI China News –

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for July 18, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on July 18, 2025.

    WA had the highest rates of Indigenous child removal in the country. At last, the state is finally facing up to it
    Source: The Conversation (Au and NZ) – By Jenna Woods, Dean, School of Indigenous Knowledges, Murdoch University Matt Jelonek/Getty Images First Nations people please be advised this article speaks of racially discriminating moments in history, including the distress and death of First Nations people. In 1997, Australia was confronted with the landmark Bringing Them Home

    Separated men are nearly 5 times more likely to take their lives than married men
    Source: The Conversation (Au and NZ) – By Michael Wilson, Research Fellow and PhD Candidate in Men’s Mental Health, The University of Melbourne Breakups hurt. Emotional and psychological distress are common when intimate relationships break down. For some people, this distress can be so overwhelming that it leads to suicidal thoughts and behaviours. This problem

    Thinking of trekking to Everest Base Camp? Don’t leave home without this expert advice
    Source: The Conversation (Au and NZ) – By Heike Schanzel, Professor of Social Sustainability in Tourism, Auckland University of Technology Purnima Shrestha /AFP via Getty Images Tourists in Kathmandu are tempted everywhere by advertisements for trekking expeditions to Everest Base Camp. If you didn’t know better, you might think it’s just a nice hike in

    Pragmatic engagement – what Albanese’s visit reveals about China relations in a turbulent world
    Source: The Conversation (Au and NZ) – By Edward Sing Yue Chan, Postdoctoral Fellow in China Studies, Australian National University The Albanese government has faced an increasingly uncertain world since its re-election in May. US President Donald Trump has cast a long shadow over the Australia–US alliance, raising fresh questions about Canberra’s long-term regional strategy.

    ‘Don’t tell me!’ Why some people love spoilers – and others will run a mile
    Source: The Conversation (Au and NZ) – By Anjum Naweed, Professor of Human Factors, CQUniversity Australia DreamBig/Shutterstock, The Conversation This article contains spoilers! I once leapt out of a train carriage because two strangers were loudly discussing the ending of the last Harry Potter book. Okay – I didn’t leap, but I did plug my

    Keith Rankin Analysis – Letter from Westphalia, Germany; 6 June 1933
    Analysis by Keith Rankin. On Saturday I came into possession of this letter, transcript below. I will note that the recipient of the letter is someone I know a bit about; I would like to know more about his time in London, circa 1930-1932. I understand that he attended the London School of Economics. I

    Australian law is clear: criticism of Israel does not breach the Racial Discrimination Act
    Source: The Conversation (Au and NZ) – By Bill Swannie, Senior Lecturer, Thomas More Law School, Australian Catholic University Earlier this month, the Federal Court found controversial Muslim cleric Wissam Haddad breached the Racial Discrimination Act. Justice Angus Stewart ruled a series of speeches Haddad posted online were “fundamentally racist and antisemitic [and] profoundly offensive”

    New Barbie with type 1 diabetes could help kids with the condition feel seen – and help others learn
    Source: The Conversation (Au and NZ) – By Lynne Chepulis, Associate Professor, Health Sciences, University of Waikato Mattel Inc/AP, The Conversation, CC BY Barbie has done many things since she first appeared in 1959. She’s been an astronaut, a doctor, a president and even a palaeontologist. Now, in 2025, Barbie is something else: a woman

    Rising seas threaten to swallow one of NZ’s oldest settlement sites – new research
    Source: The Conversation (Au and NZ) – By Peter N. Meihana, Senior Lecturer in History, Te Kunenga ki Pūrehuroa – Massey University Veronika Meduna, CC BY-SA One of Aotearoa New Zealand’s oldest settlement sites is at risk of being washed away by rising seas, according to new research. Te Pokohiwi o Kupe (Wairau Bar) near

    AI is now part of our world. Uni graduates should know how to use it responsibly
    Source: The Conversation (Au and NZ) – By Rachel Fitzgerald, Associate Professor and Deputy Associate Dean (Academic), Faculty of Business, Economics and Law, The University of Queensland MTStock Studio/ Getty Images Artificial intelligence is rapidly becoming an everyday part of lives. Many of us use it without even realising, whether it be writing emails, finding

    Susi Newborn among activists featured in Pacific ‘nuclear free heroes’ video
    Pacific Media Watch Greenpeace pioneer and activist Susi Newborn is among the “nuclear free heroes” featured in a video tribute premiered this week in an exhibition dedicated to a nuclear-free Pacific. The week-long exhibition at Tāmaki Makaurau Auckland’s Ellen Melville Centre, titled “Legends of the Pacific: Stories of a Nuclear-Free Moana 1975-1995,” closes tomorrow afternoon.

    Grattan on Friday: New parliament presents traps for Albanese and Ley
    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Anthony Albanese hasn’t been in any rush to convene the new parliament, which Governor-General Sam Mostyn will open on Tuesday. It’s only mildly cynical to observe that governments of both persuasions often seem to regard having pesky members and senators

    Police protection for New Caledonian politicians following death threats
    By Patrick Decloitre, RNZ Pacific correspondent French Pacific desk New Caledonian politicians who inked their commitment to a deal with France last weekend will be offered special police protection following threats, especially made on social media networks. The group includes almost 20 members of New Caledonia’s parties — both pro-France and pro-independence — who took

    12 countries agree to confront Israel collectively over Gaza after Bogotá summit
    ANALYSIS: By Mick Hall Collective measures to confront Israel’s genocide of the Palestinian people have been agreed by 12 nations after an emergency summit of the Hague Group in Bogotá, Colombia. A joint statement today announced the six measures, which it said were geared to holding Israel to account for its crimes in Palestine and

    Rainbow Warrior bombing by French secret agents remembered 40 years on
    SPECIAL REPORT: By Te Aniwaniwa Paterson of Te Ao Māori News Forty years ago today, French secret agents bombed the Greenpeace campaign flagship  Rainbow Warrior in an attempt to stop the environmental organisation’s protest against nuclear testing at Moruroa Atoll in Mā’ohi Nui. People gathered on board Rainbow Warrior III to remember photographer Fernando Pereira,

    Why a surprise jump in unemployment isn’t as bad as it sounds
    Source: The Conversation (Au and NZ) – By Jeff Borland, Professor of Economics, The University of Melbourne New figures show Australia’s seasonally adjusted unemployment rate unexpectedly rose to 4.3% – its highest level since late 2021 – in June this year, up from 4.1% in May. While this is bad news, it’s not as bad

    Australia got off on a technicality for its climate inaction. But there are plenty more judgement days to come
    Source: The Conversation (Au and NZ) – By Wesley Morgan, Research Associate, Institute for Climate Risk and Response, UNSW Sydney This week, the Federal Court found the Australian government has no legal duty to protect Torres Strait Islanders from climate change. The ruling was disappointing, but it’s not the end of the matter. The plaintiffs,

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Submissions: Scientists could be accidentally damaging fossils with a method we thought was safe

    Source: The Conversation – Global Perspectives – By Mathieu Duval, Adjunct Senior Researcher at Griffith University and La Trobe University, and Ramón y Cajal (Senior) Research Fellow, Centro Nacional de Investigación sobre la Evolución Humana (CENIEH)

    185,000-year-old human fossil jawbone from Misliya Cave, Israel. Gerhard Weber, University of Vienna, CC BY-ND

    Fossils are invaluable archives of the past. They preserve details about living things from a few thousand to hundreds of millions of years ago.

    Studying fossils can help us understand the evolution of species over time, and glimpse snapshots of past environments and climates. Fossils can also reveal the diets or migration patterns of long-gone species – including our own ancestors.

    But when living things turn to rock, discerning those details is no easy feat. One common technique for studying fossils is micro-computerised tomography or micro-CT. It’s been used to find the earliest evidence of bone cancer in humans, to study brain imprints and inner ears in early hominins, and to study the teeth of the oldest human modern remains outside Africa, among many other examples.

    However, our new study, published today in Radiocarbon, shows that despite being widely regarded as non-destructive, micro-CT may actually affect fossil preservation and erase some crucial information held inside.

    Preserving precious specimens

    Fossils are rare and fragile by nature. Scientists are constantly evaluating how to balance their impact on fossils with the need to study them.

    When palaeontologists and palaeoanthropologists (who work on human fossils) analyse fossils, they want to minimise any potential damage. We want to preserve fossils for future generations as much as possible – and technology can be a huge help here.

    Micro-CT works like the medical CT scans doctors use to peek inside the human body. However, it does so at a much smaller scale and at a greater resolution.

    This is perfect for studying small objects such as fossils. With micro-CT, scientists can take high-resolution 3D images and access the inner structure of fossils without the need to cut them open.

    These scans also allow for virtual copies of the fossils, which other scientists can then access from anywhere in the world. This significantly reduces the risk of damage, since the scanned fossils can safely remain in a museum collection, for example.

    Micro-CT is popular and routinely used. The scientific community widely regards it as “non-destructive” because it doesn’t cause any visual damage – but it could still affect the fossil.

    Jaw bone of the human fossil species Homo antecessor from Spain. Left: micro-CT scan with a cutting plane to visualise the inner structures, bone and teeth; right: 3D reconstruction based on the high-resolution micro-CT images.
    Laura Martín-Francés

    How does micro-CT imaging work?

    Micro-CT scanning uses X-rays and computer software to produce high-resolution images and reconstruct the fossil specimens in detail. Typically, palaeontologists use commercial scanners for this, but more advanced investigations may use powerful X-ray beams generated at a synchrotron.

    The X-rays go through the specimen and are captured by a detector on the other end. This allows for a very fine-grained understanding of the matter they’ve passed through – especially density, which then provides clues about the shape of the internal structures, the composition of the tissues, or any contamination.

    The scan produces a succession of 2D images from all angles. Computer software is then used to “clean up” these high-resolution images and assemble them into a 3D shape – a virtual copy of the fossil and its inner structures.

    Example of micro-CT results on a hominin fossil known as Little Foot, from southern Africa.

    But X-rays are not harmless

    X-rays are a type of ionising radiation. This means they have a high level of energy and can break electrons away from atoms (this is called ionisation).

    In living tissue, ionising radiation can damage cells and DNA, although the level of damage will depend on the duration and intensity of exposure. X-rays and CT scans used in medicine generally have a very low risk since the exposure of the human body is reduced as much as possible.

    However, despite what we know about the impact of X-rays on living cells, the potential impact of X-rays on fossils through micro-CT imaging has never been deeply investigated.

    What did our study find?

    Using standard settings on a typical micro-CT scanner, we scanned several modern and fossil bones and teeth from animals. We also measured their collagen content before and after scanning.

    Collagen is useful for many analytical purposes, such as finding out the age of the fossils using radiocarbon dating, or for stable isotope analysis – a method used to infer the diet of the extinct species, for example. The collagen content in fossils is usually much lower than in modern specimens because it slowly breaks down over time.

    After comparing our measurements with unscanned samples taken from the same specimens, we found two things.

    First, the radiocarbon age remained unchanged. In other words, micro-CT scanning doesn’t affect radiocarbon dating. That’s the good news.

    The bad news is that we did observe a significant decrease in the amount of collagen present. In other words, the micro-CT scanned samples had about 35% less collagen than the samples before scanning.

    This shows micro-CT imaging has a non-negligible impact on fossils that contain collagen traces. While this was to be expected, the impact hasn’t been experimentally confirmed before.

    It’s possible some fossil samples won’t have enough collagen left after micro-CT scanning. This would make them unsuitable for a range of analytical techniques, including radiocarbon dating.

    What now?

    In a previous study, we showed micro-CT can artificially “age” fossils later dated with a method called electron spin resonance. It’s commonly used to date fossils older than 50,000 years – beyond what the radiocarbon method can discern.

    This previous study and our new work show that micro-CT scanning may significantly and irreversibly change the fossil and the information it holds.

    Despite causing no visible damage to the fossil, we argue that in this context the technique should no longer be regarded as non-destructive.

    Micro-CT imaging is highly valuable in palaeontology and palaeoanthropology, no doubt about that. But our results suggest it should be used sparingly to minimise how much fossils are exposed to X-rays. There are guidelines scientists can use to minimise damage. Freely sharing data to avoid repeated scans of the same specimen will be helpful, too.

    Mathieu Duval receives funding from the Spanish State Research Agency (Agencia Estatal de Investigación). He is currently the recipient of a Ramón y Cajal fellowship (RYC2018-025221-I) funded by MCIN/AEI/10.13039/501100011033 and by ‘‘ESF Investing in your future”. This work is also part of Spanish Grant PID2021-123092NB-C22 funded by MCIN/AEI/10.13039/501100011033/FEDER, UE, and by ‘‘ERDF A way of making Europe”.

    Laura Martín-Francés receives funding from Marie Sklodowska-Curie Actions of the EU Ninth programme (2021-2027) under the HORIZON-MSCA-2021-PF-01-Project: 101060482.

    – ref. Scientists could be accidentally damaging fossils with a method we thought was safe – https://theconversation.com/scientists-could-be-accidentally-damaging-fossils-with-a-method-we-thought-was-safe-258827

    MIL OSI –

  • MIL-OSI Australia: Granting of Overseas Clearing and Settlement Facility Licence to Clearstream Banking S.A.

    Source: Airservices Australia

    Granting of Overseas Clearing and Settlement Facility Licence to Clearstream Banking S.A.

    The RBA welcomes ASIC’s decision to grant Clearstream Banking S.A. (Clearstream) a clearing and settlement facility licence.

    Clearstream plays an important part in the Australian debt securities market. It is important the RBA and ASIC, as co-regulators of clearing and settlement facilities operating in Australia, are able to have sufficient oversight of such facilities. The licence granted by ASIC will support this oversight.

    The RBA has completed an initial licensing assessment of Clearstream against the relevant obligations under Part 7.3 of the Corporations Act 2001. The RBA and ASIC have also entered into a memorandum of understanding with Clearstream’s home regulators, Banque centrale du Luxembourg and the Commission de Surveillance du Secteur Financier. The RBA will rely on the supervision of Clearstream’s home regulators, where appropriate, consistent with the Reserve Bank’s Approach to Supervising and Assessing Clearing and Settlement Facility Licensees.

    MIL OSI News –

  • MIL-OSI Banking: Granting of Overseas Clearing and Settlement Facility Licence to Clearstream Banking S.A.

    Source: Reserve Bank of Australia

    Granting of Overseas Clearing and Settlement Facility Licence to Clearstream Banking S.A.

    The RBA welcomes ASIC’s decision to grant Clearstream Banking S.A. (Clearstream) a clearing and settlement facility licence.

    Clearstream plays an important part in the Australian debt securities market. It is important the RBA and ASIC, as co-regulators of clearing and settlement facilities operating in Australia, are able to have sufficient oversight of such facilities. The licence granted by ASIC will support this oversight.

    The RBA has completed an initial licensing assessment of Clearstream against the relevant obligations under Part 7.3 of the Corporations Act 2001. The RBA and ASIC have also entered into a memorandum of understanding with Clearstream’s home regulators, Banque centrale du Luxembourg and the Commission de Surveillance du Secteur Financier. The RBA will rely on the supervision of Clearstream’s home regulators, where appropriate, consistent with the Reserve Bank’s Approach to Supervising and Assessing Clearing and Settlement Facility Licensees.

    MIL OSI Global Banks –

  • MIL-OSI China: Club World Cup ends with success, controversy and questions

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

    FIFA’s bold reimagining of the Club World Cup (CWC) culminated July 13, ushering in what the governing body hailed as “a golden era of club football.”

    The expanded 32-team format, along with sweeping technological and presentation changes, aimed to elevate the tournament’s global appeal, fairness and influence. While the 2025 edition delivered significant successes, it also revealed persistent challenges that demand attention.

    GLOBAL PARTICIPATION EXPANDS

    The most radical change was the expansion from seven to 32 teams. Players from 81 countries and regions took the pitch, many experiencing FIFA’s top-tier competition for the first time. This dismantled the previous barrier that limited participation mostly to continental champions, advancing FIFA’s mission to “truly globalize football.”

    Khvicha Kvaratskhelia (R) of Paris Saint-Germain vies with Malo Gusto of Chelsea FC during the final match between Chelsea FC (England) and Paris Saint-Germain (France) at the FIFA Club World Cup 2025 at the MetLife Stadium, New Jersey, the United States, July 13, 2025. (Xinhua/Xu Chang)

    Smaller clubs responded with enthusiasm. Facing giants like Real Madrid and Manchester City enriched player resumes and sparked pride back home-fulfilling FIFA’s core goal of showcasing diverse football cultures.

    “It shows how big football is worldwide and how good some of these players are,” said Bayern Munich striker Harry Kane. “I’m loving this tournament so far, and hopefully we can be here for a while.”

    Zhou Tong, the sole Chinese player representing New Zealand’s semi-professional Auckland City, captured the spirit: “Football connects people, changes lives, opens eyes to the world. That’s magic-like universal language.”

    Unlike elite clubs, most Auckland City players hold full-time jobs and play part time. Zhou works as a community coach focused on grassroots development. Their participation powerfully embodied FIFA’s “Football Unites the World” campaign.

    CALENDAR AND COMPETITIVE CHALLENGES

    Criticism focused on increased player workload and injury risks. The CWC schedule fully overlapped with Europe’s summer league breaks. With next summer’s FIFA World Cup in North America, European players face back-to-back grueling seasons.

    UEFA and others have long criticized FIFA’s crowded calendar. Opponents argue players are overworked while domestic leagues face disruption. Manchester City manager Pep Guardiola reiterated: “Players are not machines.” The International Federation of Professional Footballers (FIFPRO) escalated the issue by filing a complaint with the European Commission.

    Another concern was the competitiveness gap. Heavy defeats, such as Auckland City’s 10-0 loss to Bayern Munich and Al Ain’s 6-0 defeat to Manchester City, highlighted the disparity. Teams from Asia, Africa and North America generally struggled, resulting in matches that lacked suspense and neutral appeal.

    FIFA President Gianni Infantino acknowledged criticism from European clubs and fans, as well as concerns about heat, noting future use of roofed stadiums and cooling breaks.

    Luka Modric (L) of Real Madrid vies with Senny Mayulu of Paris Saint-Germain during the semifinal match between Paris Saint-Germain (France) and Real Madrid (Spain) at the FIFA Club World Cup 2025 at the MetLife Stadium, New Jersey, the United States, July 9, 2025. (Xinhua/Li Rui)

    “So maybe some criticize it a little bit, but it’s something new. It’s something special,” Infantino said. “It’s a real World Cup with the best teams and the best players.”

    He added: “The heat is an issue. Cooling breaks are very important, and we will see what we can do. But we have stadiums with roofs, and we will definitely use these during the day next year.”

    Infantino emphasized the tournament’s value for underrepresented regions like Oceania: “Auckland City, to some extent, represents 99.9% of football players and fans – those of us who dream of being on that stage but may never get the chance. Suddenly, one of us gets to play against the best. It must be a place for everyone.”

    REFEREEING REVOLUTION

    The tournament also served as a testing ground for technological innovation. A key rule change from the International Football Association Board (IFAB) debuted: goalkeepers holding the ball for more than eight seconds would concede a corner kick.

    FIFA Referees Committee Chairman Pierluigi Collina reported widespread approval. “It was very successful. The tempo of the match improved, and we saw no time wasting by goalkeepers, as happened quite often before.” Only two violations occurred, fulfilling the rule’s preventative goal.

    Referees wore head-mounted cameras to broadcast a first-person view, enhancing viewer engagement. Collina said the “ref cam” exceeded expectations and spurred interest in broader adoption.

    Referees also announced VAR decisions on-field via microphone, while fans in stadiums viewed the same replays as officials, increasing transparency. Coaches used tablets for substitutions and real-time player data (e.g., distance covered, heart rate), reducing errors and supporting tactical decisions. Collectively, the innovations improved fairness and flow.

    “The outcome of using the ref cam at the FIFA Club World Cup 2025 went beyond our expectations,” Collina said. “We’ve received great feedback – people ask, ‘Why not in all matches?’ and even more: ‘Why not in all sports?’”

    BILLION-DOLLAR GAMBLE

    FIFA dramatically increased the prize pool from 16 million US dollars for seven teams in the previous edition to 1 billion dollars for 32 teams, surpassing the 440 million dollars awarded at the 2022 FIFA World Cup. It became the richest prize pool in football.

    Clubs earned money based on performance and commercial impact. Even bottom-ranked Auckland City received 4.6 million dollars – about seven times their 2024 total revenue.

    Infantino dismissed skepticism over the tournament’s financial viability: “We heard it wouldn’t work financially, but we generated over 2 billion dollars in revenue from this competition. We earned an average of 33 million dollars per match. No other cup competition comes close.”

    “It is already the most successful club competition in the world by all different measurements,” he added.

    To maximize accessibility, FIFA struck a 1-billion-dollar global broadcast deal with streaming service DAZN, including free streams of all 63 matches in 32 languages.

    New presentation features such as individual player walkouts and a mid-final halftime show added spectacle-but sparked backlash. The 24-minute halftime performance violated FIFA’s 15-minute maximum break rule.

    Attendance figures varied widely: four matches drew fewer than 10,000 fans, with the lowest being 3,412 for a Group F match between Ulsan HD and Mamelodi Sundowns. Sixteen matches exceeded 60,000 fans, with the highest attendance at 81,118 for the Chelsea vs. PSG final.

    “We respect everyone’s opinion,” Infantino said. “But it has been successful. We had over 2.5 million spectators in the stadiums – around 40,000 per match. No league in the world reaches that number, except the Premier League.”

    MEDIA ZONE REFORMS

    The revamped CWC mixed zone abandoned the traditional TV-first format. Instead, four interview pods were set up – two per team.

    Clubs designated players to give interviews in their native language and in English. Written press were allowed to film and photograph, but videos could only be posted online one hour after the mixed zone closed and had to be removed within 48 hours.

    Many journalists welcomed the guaranteed access. Marcio Dolzan of Brazil’s Lance contrasted it with the 2022 World Cup final in Qatar, where reporters waited two hours for Argentine players, who avoided interviews entirely.

    Others were critical. “Having covered nine World Cups, this format is unfamiliar,” said Antonio Carrasco of Venezuela’s Meridiano TV. “It feels like mini press conferences. All journalists hear the same thing. There’s no opportunity for exclusives or choice of whom to interview.”

    West Lamy of The Huffington Post pointed out logistical issues: At English-language pods, non-English-speaking journalists often interviewed players in their own language, undermining the pod’s purpose.

    FIFA provided translators, but they were often ineffective – journalists spoke over them or asked new questions before translations finished. Star players drew crowds, while others were overlooked. On-screen player data helped with question prep but didn’t solve access inequities.

    “But if this is a change FIFA has already decided on, we will adapt,” Carrasco said.

    MIL OSI China News –

  • MIL-OSI China: China sees robust IP progress, fueling high-quality development

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

    BEIJING, July 17 — China has made significant strides in intellectual property (IP) protection during its 14th Five-Year Plan period (2021-2025), providing impetus for innovation and high-quality development, the China National Intellectual Property Administration (CNIPA) said on Thursday.

    CNIPA head Shen Changyu, speaking at a press conference on reviewing China’s IP progress, outlined the administration’s comprehensive strategy to establish a world-class IP governance system, institutional framework, cultural environment and professional talent pool. “Our clear objective is to establish China as a global IP powerhouse by 2035.”

    He emphasized four strategic focus areas: advancing the modernization of the IP governance system and its capabilities, supporting China’s high-level self-reliance in science and technology, cultivating new quality productive forces and modern industrial systems, and promoting high-standard opening-up and market system development.

    Through a quality-oriented approach, the CNIPA has refined key performance metrics such as high-value invention patents per 10,000 people, the value-added of patent-intensive industries as a percentage of GDP, the total import and export volume of IP royalties, and IP examination quality and efficiency standards.

    “These indicators reflect a more scientific approach to measuring China’s IP progress,” Shen said, adding that the administration will actively engage stakeholders in shaping the 15th Five-Year Plan (2026-2030) to ensure practical, innovation-friendly policies that boost industries and benefit public welfare.

    As the 14th Five-Year Plan period nears its conclusion, China is clocking up a series of achievements in the transformation and industrialization of patents, IP in green and low-carbon technologies, geographical indication (GI) products and international IP cooperation.

    China has effectively promoted the transformation and industrialization of a large number of patents, with the industrialization rate of enterprise invention patents up from 44.9 percent in 2020 to 53.3 percent in 2024.

    As of June 2025, China’s number of valid domestic invention patents has reached 5.01 million, which is an increase of 13.2 percent year on year, according to Shen, while ownership of high-value invention patents per 10,000 people has reached 15.3.

    Additionally, the dominant position of enterprises in technological innovation continues to be enhanced in China, Shen said.

    There were 524,000 domestic enterprises that held valid invention patents in June 2025, by which time the total number of valid invention patents held by those enterprises had reached 3.7 million, accounting for 74.4 percent of the total number in China — an increase of 6.1 percentage points compared to the end of the 13th Five-Year Plan period (2016-2020).

    China has seen increasingly vibrant innovation in green and low-carbon technologies, with 53,000 invention patents granted in the sector in 2024 alone, said Liang Xinxin, an official of the CNIPA. The 2024 figure, which doubled 2020’s, reflects an average annual growth rate of 19.2 percent.

    The clean energy and energy storage sectors showed robust growth, with respective invention patent authorizations rising 34.9 percent and 32.8 percent year on year — the highest increases among all green technology categories, Liang noted.

    China has cumulatively recognized 2,861 GI products, according to Shen. The annual output value of China’s GI products increased from 639.8 billion yuan (about 89.5 billion U.S. dollars) in 2020 to 969 billion yuan in 2024, he noted.

    A total of 7,424 GIs have been registered as collective or certification trademarks, and over 37,000 business entities have been authorized to use the special GI symbol.

    China has established IP cooperation partnerships with over 80 countries and regions. The China-EU agreement on GIs has come into force, realizing the mutual recognition and protection of the first group of listed products, Shen said, adding that China has successfully acceded to the Hague Agreement Concerning the International Registration of Industrial Designs.

    CNIPA Deputy Commissioner Hu Wenhui noted that the administration treats domestic and foreign enterprises equally in terms of IP protection. In the first half of the year, foreign applicants filed 94,000 trademark applications in China — a year-on-year increase of 7.4 percent, with significant growth of over 20 percent in applications from Germany, Italy and the United States, Hu said.

    By the end of 2024, the CNIPA had provided a total of 2,393 guidance services and 6,885 advisory consultations to domestic enterprises engaging in global expansion, helping them reduce litigation costs by 1.32 billion yuan and recover economic losses amounting to 38.04 billion yuan, he said.

    MIL OSI China News –

  • MIL-OSI China: Europe urged to diversify trade markets over US tariff coercion, supply chains disruption

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

    As Washington presses ahead with additional tariffs on products from the European Union (EU) and beyond, European officials and experts are urging the diversification of trade markets to mitigate the damage that such coercive financial statecraft is inflicting on global supply chains.

    TARIFF GAME SETTING OFF CHAIN REACTION

    U.S. President Donald Trump announced Saturday that his administration would impose 30 percent tariffs on EU and Mexican exports, arguing that bilateral trade had long been unbalanced and lacked reciprocity.

    Trucks wait to enter the Container Terminal Tollerort in Hamburg, Germany, May 28, 2025. (Xinhua/Zhang Fan)

    The Irish Sinn Fein leader Mary Lou McDonald described the tariff threat as “volatile” and “not helpful at all.” “That poses a challenge for Ireland, for Europe, for the world,” she told Xinhua at a press conference in London.

    Countries across Europe have been warning about the impact of the seemingly unrelenting tariff assaults on their economies.

    The Bank of Slovenia estimated that U.S. tariffs could indirectly disrupt the broader European value chain and impact about 15,000 jobs in Slovenia, a significant number in a country of just 2.1 million people.

    The Bank of England also said in its latest Financial Stability Report that the global economy faces rising downside risks, citing U.S. tariffs, and despite a new trade agreement between Britain and the United States in May, a further escalation in trade disputes globally could amplify financial stress and drag on economic growth in Britain.

    Companies of all sizes, from those exporting to the U.S. to manufacturers heavily reliant on global supply chains, are feeling the strain that the tariffs are placing on their operations.

    Neb Chupin, founder of Croatia’s Hermes International, a successful fig jam producer in the U.S. market, said, “With 10 percent tariffs, we are losing about 20,000 U.S. dollars a week. What would happen with 30 or even 50 percent tariffs? I cannot even sleep at night as the situation is very unstable.”

    With 40 percent of exports going to the U.S., Finland’s pharmaceutical industry could also be severely affected by potential U.S. tariffs. Johanna Sipola, deputy CEO of Keskuskauppakamari, or the Finnish Chamber of Commerce, called the tariffs “unrealistic” and warned that the greater risk is the uncertainty they create.

    “If the tariffs were implemented, the repercussions for international pharmaceutical production would be significant. The industry’s delivery chains are unusually global, and even minor disruptions can trigger substantial changes in medicine prices and demand,” Sipola said.

    Beyond the immediate effects, the high-stakes tariff game is setting off a chain reaction across global supply chains and geopolitical dynamics.

    Gavran Igor, an economic analyst from Bosnia and Herzegovina, said that the longer-term impact of the tariffs could prove even more damaging for Balkan manufacturers that are integrated into EU-based industries, particularly automotive supply chains.

    Czech Republic’s Finance Minister Zbynek Stanjura said that exports to the United States account for less than 3 percent of the country’s total exports. However, the country would also be indirectly affected through its European partners who purchase Czech goods and components.

    STRENGTHENING COOPERATION WITH MULTI-PARTNERS URGED

    Inevitably, even countries with modest trade ties to the world’s largest economy can still feel the ripple effects of Washington’s unpredictability. In response, experts recommend that European nations broaden their trade partnerships, especially with China, Southeast Asia and other regions.

    “Europe must, in the long term, become more independent from the American market. A joint free trade zone with the ASEAN countries and the rapid ratification of the agreement with Mercosur are urgently needed,” Dirk Jandura, president of the Federation of German Wholesale, Foreign Trade and Services, said in a statement after Trump’s new tariff announcement.

    Mario Boselli, chairman of the Italy China Council Foundation, said that the shifting dynamics might prompt Europe to reconsider its external economic strategy. In his view, strengthening cooperation with China is a “highly strategic choice.”

    “If economies, like the EU, China, the United Kingdom, Brazil and India, keep global trade open, the U.S. tariffs’ impact on global supply chains will be lower. That’s the opportunity,” said Carlo Altomonte, associate professor of the Department of Social and Political Sciences of Bocconi University in Milan.

    Martin Geissler, Partner at the management consultancy Advyce & Company, echoed the suggestions by sharing Germany’s auto industry as an example. “German automakers have often not yet recognized the growth prospects that exist in Africa and many emerging countries,” Geissler said, contrasting this with China’s strategic engagement with multi-partners.

    Bernardo Mendia, Secretary General of the Portugal-China Chamber of Commerce and Industry, is leading a Portuguese delegation to the ongoing China International Supply Chain Expo in Beijing.

    A key factor driving Portugal’s participation this year, in his words, is the rise of protectionism, logistical disruptions and geopolitical shifts. In the face of these challenges, China offers a distinctive platform to develop innovative solutions, business models, and collaborative partnerships, he said.

    Looking ahead, experts believe that Washington’s trade policies could ultimately backfire on the U.S. economy itself.

    “The U.S. needs many of our industrial products, which cannot be easily replaced in the short term. This allows German manufacturers of these goods to largely pass on the tariffs in their prices to the detriment of the U.S. economy,” said Juergen Matthes, head of International Economic Policy, Financial and Real Estate Markets Research Unit at the German Economic Institute. 

    MIL OSI China News –

  • MIL-OSI USA: Intel Chairs Cotton and Crawford to Gabbard: Review Intelligence Sharing with Spain

    US Senate News:

    Source: United States Senator for Arkansas Tom Cotton
    FOR IMMEDIATE RELEASEContact: Caroline Tabler or Patrick McCann (202) 224-2353July 17, 2025
    Intel Chairs Cotton and Crawford to Gabbard: Review Intelligence Sharing with Spain
    Washington, D.C. — Senator Tom Cotton (R-Arkansas), Chairman of the Senate Select Committee on Intelligence, and Congressman Rick Crawford (Arkansas-01), Chairman of the House Permanent Select Committee on Intelligence, today sent a letter to Tulsi Gabbard, the Director of National Intelligence requesting a review on all intelligence sharing with Spain’s intelligence, defense, and law enforcement services. This letter comes after Spain’s Ministry of the Interior reportedly awarded €12.3 million in contracts for Huawei, which has deep ties to the CCP, to provide servers and consulting services for Spain’s wiretap systems.
    In part, Senator Cotton and Congressman Crawford wrote:
    “Since the first Trump administration, the United States has waged a whole of government effort to remove the threat Huawei equipment poses to American networks, infrastructure, and privacy. Until Spain follows suit, the U.S. Government should ensure that any information shared with the Spanish government is redacted of details that should not be shared with the CCP.”
    Full text of the letter may be found here and below.
    The Honorable Tulsi GabbardDirector of National IntelligenceOffice of the Director of National Intelligence1500 Tysons McLean DriveMcLean, VA 22102
    Dear Director Gabbard:
    We write to urge you to review intelligence sharing arrangements with the government of Spain to ensure that any information shared with Spanish intelligence, defense, and law enforcement services does not reveal U.S. national security secrets to the Chinese Communist Party (CCP).  
    As you are likely aware, Spain’s Ministry of the Interior reportedly awarded €12.3 million in contracts for Huawei to provide servers and consulting services for Spain’s wiretap systems.   Huawei has deep ties to the CCP and is subject to China’s National Intelligence and Data Security laws, which compel Huawei to provide the CCP access to any Huawei information that the CCP deems necessary.  In essence, Huawei and the CCP could have backdoor access to the lawful intercept system of a NATO ally—enabling them to monitor Spanish investigations of CCP spies and innumerable other intelligence activities. 
    Since the first Trump administration, the United States has waged a whole of government effort to remove the threat Huawei equipment poses to American networks, infrastructure, and privacy. Until Spain follows suit, the U.S. Government should ensure that any information shared with the Spanish government is redacted of details that should not be shared with the CCP.  Thank you in advance for your attention to this matter. 
    Sincerely,
    Tom Cotton Chairman, Senate Select Committee on Intelligence
    Rick CrawfordChairman, House Permanent Select Committee on Intelligence

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Huge boost for UK industry as Government powers ahead with cuts to electricity costs

    Source: United Kingdom – Government Statements

    Press release

    Huge boost for UK industry as Government powers ahead with cuts to electricity costs

    The Government has announced a huge boost to UK industry as it powers ahead with its plan to cut electricity costs.

    • Plans to slash electricity network costs for energy-intensive businesses by 90% are set in motion as Government launches new consultation.
    • Around 500 of UK’s most energy-intensive firms set to save up to £420m a year when current 60% discount on network charging costs increases to 90% from 2026.
    • Shows UK getting on with delivering announcements in Modern Industrial Strategy that will level the playing field for British businesses, backed by Plan for Change

    Around 500 of the UK’s most energy-intensive businesses such as British Steel and INEOS are set for a huge boost as the Government powers ahead with a 90% discount for businesses’ network charging costs.

    Delivering on its promise in the UK’s modern Industrial Strategy launched last month to slash energy costs for heavy industry, the Government today (18 July) launches a four-week consultation on its plans to increase the discount on businesses’ electricity network charges from 60% to 90%.

    The landmark new support is expected to save around 500 of Britain’s most energy-intensive firms in key sectors like steel, ceramics, glass and chemicals up to £420m per year from 2026 when in force and bring the UK’s industrial energy prices in line with European competitors, helping secure jobs and attract new investment as part of the Plan for Change.

    Business Secretary Jonathan Reynolds said:

    This government is on the side of British industry. When we make promises we deliver on them. That’s why we’re wasting no time in powering ahead with our plans to tackle energy costs for great British businesses and level the playing field.

    The cornerstone of our modern Industrial Strategy, this landmark new support will meet a longstanding need from industry which other governments shirked – paving the way for new investment and job creation at the heart of our Plan for Change.

    The launch of the consultation on the Network Charging Compensation (NCC) scheme, part of the Government’s British Industry Supercharger package of measures to tackle industrial electricity costs, will seek industry’s views on the 30% uplift and double the window which businesses have to apply for support through the scheme from one month to two.

    Network charges are the costs paid by electricity network users for access to the service and are already discounted by 60% for some of the UK’s biggest industrial businesses through the NCC scheme since April 2024, saving businesses millions of pounds every month.

    The proposals in the consultation launched today would see their costs fall by around a further £7 per megawatt hour (/MWh) bringing electricity prices more into line with European countries such as France and Germany.

    The news follows Deloitte’s latest survey of finance officers which has found the UK is the joint top location for investment in the world, and new data from Make UK and BDO which finds that manufacturing in the UK has recovered to 2019, pre-pandemic, levels in every region, with 12,000 new jobs created in the year to March 2024.

    The uplift follows other new landmark support for British industry announced in last month’s modern Industrial Strategy, with the new British Industrial Competitiveness Scheme expected to slash energy costs by up to 25 percent for over 7,000 businesses.

    This scheme, which government will consult on shortly and is due to come into force in 2027, will cut costs for thousands of electricity-intensive businesses in key manufacturing sectors like aerospace, automotive and chemicals, supporting hundreds of thousands of skilled jobs by exempting firms from paying levies like the Renewables Obligation, Feed-in Tariffs and the Capacity Market.

    A new Connections Accelerator Service will also come into force by the end of 2025, streamlining access to the UK electricity grid for major investment projects to speed up delivery and bring new high-quality jobs and economic growth.

    New powers in the Planning and Infrastructure Bill, currently before Parliament, could also allow the Government to reserve grid capacity for strategically important projects, cutting waiting times and unlocking growth in key sectors.

    Gareth Stace, Director General of UK Steel, and Chair of Energy Intensive Users Group, said:

    Increasing network charge compensation under the Government’s Supercharger scheme is a very welcome and much-needed step towards achieving competitive electricity prices for the UK’s steel sector and other foundation industries.

    These reforms reflect solutions that UK Steel has long advocated to address the persistent challenge of uncompetitive industrial electricity costs. While more still needs to be done, this is meaningful progress.

    Truly competitive energy prices are essential to unlocking investment, creating jobs, accelerating decarbonisation, and securing the long-term future of steelmaking in the UK.

    Investment Minister Baroness Gustafsson visited Special Melted Products – an historic British advanced manufacturing firm which currently benefits from the 60% network charging discount – in Sheffield yesterday to welcome the news, as well as a major investment in the company from Taiwanese firm Walsin Lihwa, set to create over 200 skilled jobs by 2028.

    Notes to editors:

    • The Government’s modern Industrial Strategy can be found here.
    • The consultation will be published on Gov.UK later today here.
    • The total estimated value of the network charging compensation component of the Supercharger (at 90%) is £310-420m this year (in 2025 prices).
    • The NCC uplift will provide an estimated additional £7-10/MWh discount to eligible businesses.

    Updates to this page

    Published 18 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Leading lights of UK research spearhead search for world’s best talent

    Source: United Kingdom – Government Statements

    Press release

    Leading lights of UK research spearhead search for world’s best talent

    12 leading universities and research institutions selected to deliver government’s £54 million fund to recruit world’s top researchers.

    • 12 leading universities and research institutions selected to deliver government’s £54 million fund to recruit world’s top researchers
    • From AI to medicine, cutting-edge research is delivering the new breakthroughs and products that are key to economic growth, the core mission of the Plan for Change   
    • Global Talent Fund is just one part of over £115 million in funding dedicated to attracting top talent to the UK

    12 of the UK’s leading universities and research institutions, across all 4 nations, will deliver the Global Talent Fund: a £54 million investment in Britain’s future prosperity and economic growth.

    The new £54 million Global Talent Fund is designed to attract a total of 60-80 top researchers (both lead researchers and their teams) to the UK, working in the 8 high priority sectors critical to our modern Industrial Strategy like life sciences and digital technologies.  By bringing the very best minds in fields that will be critical to the future of life and work to the UK, we can pave the way for the products, jobs and even industries that define tomorrow’s economy, to be made and grow in Britain.

    From Argentine César Milstein’s work on antibodies, to Hong Kong-born Sir Charles Kao who led the development of fibre optics, through to German Ernst Chain’s efforts to make penicillin usable in medicine, there is a long pedigree of overseas researchers making great breakthroughs whilst working in the UK. We want the UK to continue to be the natural home of the very best science and research, the world over. 

    Driving new tech innovations and scientific breakthroughs will fire up the UK economy and put rocket boosters on the government’s Plan for Change. The IMF estimates that breakthroughs in AI alone could boost productivity by as much as 1.5 percentage points a year, which could be worth up to an average £47 billion to the UK each year over a decade. Other technologies could be gamechangers too: quantum computing could add over £11 billion to the UK’s GDP by 2045, while engineering biology could drive anywhere between £1.6-£3.1 trillion in global impact by 2040. 

    Science Minister Lord Vallance said:

    Genius is not bound by geography. But the UK is one of the few places blessed with the infrastructure, skills base, world-class institutions and international ties needed to incubate brilliant ideas, and turn them into new medicines that save lives, new products that make our lives easier, and even entirely new jobs and industries. Bringing these innovations to life, here in Britain, will be critical to delivering this government’s Plan for Change.

    My message to the bold and the brave who are advancing new ideas, wherever they are, is: our doors are open to you. We want to work with you, support you, and give you a home where you can make your ideas a reality we all benefit from.

    Chancellor of the Exchequer Rachel Reeves said:

    The UK is home to some of the world’s best universities which are vital for attracting international top talent. Supported by our new Global Talent Taskforce, the Global Talent Fund will cement our position as a leading choice for the world’s top researchers to make their home here, supercharging growth and delivering on our Plan for Change.

    The institutions selected to deliver the Global Talent Fund are:

    • University of Bath 
    • Queen’s University Belfast 
    • University of Birmingham 
    • University of Cambridge 
    • Cardiff University 
    • Imperial College London 
    • John Innes Centre 
    • MRC Laboratory of Molecular Biology 
    • University of Oxford 
    • University of Southampton 
    • University of Strathclyde
    • University of Warwick 

    These organisations will each get an equal share of the £54 million Fund, to use bringing some of the world’s foremost researchers and their teams to the UK. Each of them has a track record of recruiting and supporting top international R&D talent, as well as securing international competitive research funding to the UK. They are empowered to develop their own approaches and plans to spend their share of the Global Talent Fund to attract research talent from the around the globe in their choice of Industrial Strategy areas, including covering visa and relocation costs for researchers and their family members.

    The Global Talent Fund, administered by UKRI, is just one part of over £115 million funding that is being dedicated to attracting the very best scientific and research talent to the UK. In addition to this fund, 2 fellowships have been launched, aimed at bringing groundbreaking AI research teams to UK organisations and labs: the £25 million Turing AI ‘Global’ Fellowships, as well as a UK-based expansion of the Encode: AI for Science Fellowship.

    Alongside this, 2 new fast-track research grant routes have been announced by the National Academies – including £30 million from the Royal Society for a Faraday Discovery Fellowship accelerated international route, part-funded by their £250 million DSIT endowment. The Royal Academy of Engineering has announced a similar fast track international route, as part of its £150 million Green Future Fellowships endowment from DSIT – this funding will ensure the UK competes for the best global talent in science and research. While researchers looking to relocate to the UK can also benefit from the Choose Europe scheme, thanks to the UK’s association to Horizon Europe.

    All of these efforts will be supported by the Global Talent Taskforce. Launched as part of the Industrial Strategy, the taskforce will report directly to the Prime Minister and Chancellor, and support researchers, scientists and engineers as well as top-tier investors, entrepreneurs and managerial talent to bring their skills to Britain.

    Work to cultivate top AI research talent in the UK is further bolstered through the Spärck AI scholarships, which will provide full funding for master’s degrees at 9 leading UK universities specialising in artificial intelligence and STEM subjects. These scholarships will open for applications in Spring 2026. We also support postgraduate research broadly, with £500 million UKRI funding supporting over 4.700 students at 45 higher education institutions to study projects in biological, engineering and physical, and natural and environmental sciences.

    Professor Phil Taylor, Vice-Chancellor and President of the University of Bath, said: 

    Our university was founded with a mission to work closely with industry, and partnership working has been in our DNA ever since. We are truly delighted to play our part in attracting outstanding global academics to help power research in the UK’s industrial strategy priority areas. 

    This major investment recognises the vital role universities play in driving innovation and growth across the UK. We look forward to working with DSIT and UKRI to attract more bright minds to play their part in our innovation-fuelled and impact-focussed research.

    Professor Sir Ian Greer, President and Vice-Chancellor at Queen’s University Belfast said:

    We are proud that Queen’s has been selected as one of the 12 institutions to deliver the Global Talent Fund. This funding will allow us to bring world-leading researchers to Northern Ireland in priority areas such as advanced manufacturing and cybersecurity, fields that are vital to our economy and to the UK’s global competitiveness.

    By attracting exceptional talent from outside the UK, we are strengthening our research base, and helping to drive innovation within the local economy. This is a clear endorsement of the excellence and impact of research at Queen’s, and of our role in helping to deliver the UK government’s Industrial Strategy.

    Professor Adam Tickell, Vice-Chancellor and Principal at the University of Birmingham said:

    I am delighted that the University of Birmingham has been selected to support the government’s vision to attract exceptional international researchers to the UK. In celebration of our 125 anniversary this year, our University is committed to investing in the recruitment of 125 leading researchers. The Global Talent Fund investment means that we will now go even further – drawing a diverse community of world-leading researchers to Birmingham. They will join a thriving and ambitious research environment, where the potential for discovery, collaboration, and impact has never been greater. We look forward to welcoming a new generation of global research leaders to our University and city and to seeing the positive impact their work will have on the UK economy and on the health and wellbeing of society.

    Professor Deborah Prentice, Vice-Chancellor, University of Cambridge, said:

    The University is grateful for this award of funding. The Fund will bolster emerging and accelerating research areas, in line with the goals of the government’s Industrial Strategy. This investment will be pivotal in securing and supporting international academic expertise and strengthening the strategic opportunities the University is seeking to catalyse for both the University and the UK more widely.  We look forward to the opportunities this will unlock.

    Cardiff University’s Vice-Chancellor, Professor Wendy Larner said:

    We are delighted to have secured this funding to help us attract the world’s best minds to Cardiff and Wales.

    It is a clear endorsement of our standing and place in the UK research community and sends a clear message that we are well-positioned to attract global talent. It will enable us to support more of the world’s leading academics in Wales – helping to further boost our research capacity and global reputation in key research areas.

    Professor Hugh Brady, President of Imperial College London said:

    Imperial College London is a global university and international researchers are central to our success. They bring fresh perspectives, new ideas, and a spirit of discovery that enriches our community and drives breakthroughs that benefit all of society – from tackling malaria to breakthroughs in quantum computing.

    The Global Talent Fund will support our efforts to attract the brightest minds from around the world. We look forward to welcoming them and continuing to push the boundaries of knowledge together.

    Professor Cristobal Uauy, Director designate, John Innes Centre said:

    This funding is a major boost to our efforts at the John Innes Centre to attract ambitious world-leading researchers to join our Healthy Plants, Healthy People, Healthy Planet vision.

    By bringing outstanding talent to the Norwich Research Park, we are strengthening the UK’s global leadership in bio-based innovation, data-driven biology, and sustainable, high-value agri-tech, key pillars of the UK’s Modern Industrial Strategy.

    As a Chilean researcher who relocated to the UK, I’ve experienced first-hand the friendly, open and collaborative academic environment here. The world-class facilities, technology platforms and institutional support provided at the John Innes Centre are unrivalled. It’s the kind of environment where scientists can take bold ideas forward, build meaningful collaborations, and create lasting global impact.

    Jan Löwe, Laboratory of Molecular Biology Director, said:

    We welcome the government’s drive to attract global talent which addresses key barriers faced by researchers wishing to relocate to the UK.

    The LMB’s scientific breakthroughs and technological advances have been driven by talented scientists of all nationalities since our origins in the 1940s. Science is a creative pursuit, and creativity thrives on diverse input from people of different backgrounds.

    Research has no borders, and this funding will enable the LMB and fellow UK institutions to be competitive in the global scientific talent market and attract gifted scientists from around the world to drive UK innovations for the benefit of all.

    Professor Irene Tracey CBE, FRS, FMedSci, Vice-Chancellor of Oxford University, said:

    Oxford University has a long history of attracting exceptional global talent, enabling world-leading research, teaching, and innovation with wide-reaching social and economic impact. In 2021–2022, our science parks, knowledge exchange, and the Oxford-AstraZeneca Covid-19 vaccine contributed to a £6.6 billion boost to the UK economy, with our spinouts supporting over 31,600 UK jobs. Globally, the AZ vaccine is estimated to have saved over 6 million lives in its first year, resulting in a worldwide health economic impact of £2 trillion. The Global Talent Fund will draw internationally recognised experts to Oxford, building capability for future innovation and growth in the Industrial Strategy areas we have prioritised.

    Professor Mark E. Smith, President and Vice-Chancellor of the University of Southampton, said:

    We are proud that the University of Southampton has been chosen as one of the small number of organisations for this exciting and important initiative.

    Attracting world-leading researchers to work in the United Kingdom will help to lead innovation in the technologies of the future, supporting industry and driving economic growth.

    Southampton is a global University with a wealth of research talent and this funding will help us to build further on our existing strengths and partnerships.

    Professor Sir Jim McDonald, Principal and Vice-Chancellor of the University of Strathclyde, said:

    We welcome this important investment in global talent that UKRI has committed to and the alignment it creates between the new Industrial Strategy and the research and innovation leadership that is critical to its success. 

    Strathclyde is proud of its position as a leading international technological university. We deliver impact collaboratively by bringing together the excellent talented people we have at Strathclyde and through working closely with partners in other universities, industrial partners, innovation centres and National Laboratories through research that addresses market opportunities and national priorities – from climate resilience and sustainable energy to health innovation, and security and resilience.

    This new funding from UKRI and the Department for Science, Innovation and Technology reflects confidence in our ability to translate cutting-edge discovery into real-world applications and solutions, working collaboratively with industry, government and global partners. It will enhance our research environment, widen our talent pipeline and further enable our mission as a place of useful learning.

    Professor Stuart Croft, Vice Chancellor and President of the University of Warwick said:

    The University of Warwick is known for our world-leading expertise in Advanced Manufacturing and the Arts and this £4.35 million investment will accelerate the development of innovative insights, solutions, products, and services in an inter-disciplinary way. It will also help drive inclusive regional and national growth in the Creative Industries.

    Through our strong partnerships with SMEs, industry, and local councils, this initiative will play a key role in advancing UK innovation and delivering meaningful benefits to communities across the West Midlands and the wider UK. 

    In our 60th anniversary year we are reaffirming our commitment to making a better world together and this funding will further strengthen our determination to deliver our vision.

    Professor Christopher Smith, International Champion at UK Research and Innovation (UKRI), said:

    Global challenges from climate change to energy security, food systems to antimicrobial resistance do not respect borders, and neither should the research and innovation required to address them. Time and again, international collaboration has driven transformative breakthroughs: from the discovery of the Higgs boson at CERN, to the global effort to decode the complex wheat genome, enabling the development of high-yield, climate-resilient crops that support food security worldwide. The impact of global partnerships is clear.

    The Global Talent Fund is a vital part of UKRI’s mission to support an open, dynamic, and diverse research and innovation system. By supporting our brilliant research institutes to attract outstanding individuals from across the world and foster collaboration between nations, we are strengthening the UK’s position at the heart of the global knowledge economy. This fund aligns with our enduring commitment to international engagement, and to working together to shape a better future for all.

    Notes to editors

    The £54 million Global Talent Fund comes over 5 years, starting in 2025/2026. The fund, administered by UKRI and delivered by universities and research organisations, will cover 100% of eligible costs, including both relocation and research expenses, with no requirement for match funding from research organisations. The initiative also includes full visa costs for researchers and their dependants, removing significant financial and administrative barriers to relocation.

    Funding will be distributed evenly amongst the 12 research organisations.

    The small number of world-class researchers, and their teams, who go on to be supported by these funds, will come to live and work in the UK via existing routes such as the Skilled Worker, Global Talent, and the Innovator Founder visas.

    There are no plans to change existing visa routes – and the Immigration White Paper sets out the government’s broad approach to restoring order to the immigration system through the Plan for Change.  

    DSIT media enquiries

    Email press@dsit.gov.uk

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

    Updates to this page

    Published 18 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Booker Introduces Pesticide Injury Accountability Act

    US Senate News:

    Source: United States Senator for New Jersey Cory Booker

    WASHINGTON, D.C. – Today, U.S. Senator Cory Booker (D-NJ) introduced the Pesticide Injury Accountability Act, legislation that would ensure that pesticide manufacturers can be held responsible for the harm caused by their toxic products. Specifically, this bill would amend the Federal Insecticide, Fungicide and Rodenticide Act of 1972 (FIFRA) to create a federal right of action for anyone who is harmed by a toxic pesticide.

    Despite growing peer-reviewed scientific evidence linking widely used pesticides to a host of health harms including cancers, birth defects, endocrine disruption, Parkinson’s disease, and infertility, a coordinated effort is being led by pesticide manufacturers in state legislatures and in Congress seeking legal immunity – a liability shield – for these big corporations.

    If these largely foreign-owned companies are successful, this liability shield would leave farmers, farmworkers, and other injured individuals without meaningful recourse for the harms caused by these toxic substances. 

    Chemical companies are seeking liability shields because they know the harm their products have already caused. Syngenta, a subsidiary of the Chinese state-owned company ChemChina, reached a $187.5 million settlement in 2021 for paraquat-related Parkinson’s disease claims. Monsanto, now owned by Germany’s Bayer, has paid billions of dollars to settle lawsuits linking Roundup (glyphosate) to non-Hodgkin’s lymphoma.

    “Rather than providing a liability shield so that foreign corporations are allowed to poison the American people, Congress should instead pass the Pesticide Injury Accountability Act to ensure that these chemical companies can be held accountable in federal court for the harm caused by their toxic products,” said Senator Booker.

    “CHD opposes any liability shield for any industry that has a direct impact on the health of the American people,” said Mary Holland, CEO of Children’s Health Defense. “Granting blanket immunity to corporations who have a fiscal responsibility to their shareholders, and not a responsibility to consumer safety, is one of the most dangerous propositions imaginable. CHD sincerely thanks Senator Booker for his leadership in sponsoring this critical piece of legislation to protect the American people over corporations.”

    “No one can dispute that crop pesticides are poisons. They are designed to kill weeds, but they also kill non-target plants and there is sound evidence linking them to human health problems,” said Jim Goodman, president of the National Family Farm Coalition. “To date, Bayer alone has paid out over $11 billion in legal settlements for medical problems caused by their herbicide Roundup. To avoid paying for damages caused by their poisons, agri-chemical companies routinely lobby for federal and state laws that shield them from any liability for the damages they are responsible for. People sickened by their poisons go bankrupt paying for their medical care and sometimes ultimately die. The Pesticide Injury Accountability Act of 2025 will hold agri-chemical companies accountable for the irreparable harms they cause.”

    “Moms Across America strongly supports the Pesticide Injury Accountability Act, which reaffirms our 7th Amendment right to sue for harm or damage,” said Zen Honeycutt, Founding Executive Director, Moms Across America. “It is unconscionable that corporations are pushing our elected officials to manipulate laws so that they can avoid accountability for safety and protect their profits over the health and safety of Americans. We must protect the American people from harm – especially from products that are proven to cause infertility, cancer, liver disease and many other negative health effects.”

    “People exposed to and suffering from the health effects of toxic chemicals should not be denied their right to seek justice,” said Geoff Horsfield, Policy Director, Environmental Working Group. “We applaud Senator Booker for his efforts to protect the rights of farmers, rural communities, workers, children and families.”

    “Granting legal immunity to pesticide manufacturers would leave farmers and their families with no way to seek justice after suffering health or crop damage from these chemicals,” said Kelly Ryerson, Co-Founder, American Regeneration. “Farmers have a right to hold companies accountable and protect their livelihoods from devastating illness.” 

    Last month, Senator Booker led a group of 20 of his colleagues in calling on Senate leadership to oppose any efforts to limit existing state and local authority to regulate pesticides in the upcoming Farm Bill or any other legislation.  

    To see a full list of endorsing organizations, click here.

    To read the full text of the bill, click here.

    MIL OSI USA News –

  • MIL-OSI United Nations: UN chief reports progress in Cyprus talks, urges swift implementation of trust measures

    Source: United Nations 4

    Mr. Guterres was speaking to reporters after hosting Greek Cypriot leader Nikos Christodoulides and Turkish Cypriot leader Ersin Tatar at the UN Headquarters in New York.

    “Today’s discussions were constructive. Both leaders reviewed the progress on the six initiatives they agreed to in March to build trust,” he said.

    Out of these six initiatives, four have been achieved: the creation of a technical committee on youth, initiatives on the environment and climate change, restoration of cemeteries, and an agreement on demining that will be closed once the final technical details are established.

    “And discussions will continue on the remaining two,” the UN chief added, referring to the opening of four crossing points on the divided island and solar energy in the buffer zone.

    New initiatives

    In addition, the leaders reached a common understanding on new initiatives, including a consultative body for civil society engagement, exchanging cultural artifacts, improving air quality monitoring, and addressing microplastic pollution.

    “It is critical to implement these initiatives – all of them – as soon as possible for the benefit of all Cypriots,” Mr. Guterres said.

    The Secretary-General also confirmed that he will meet both leaders again during the UN General Assembly’s high‑level week in September. Another informal meeting in the same format is planned later this year.

    A long road ahead

    “There’s a long road ahead. And it is important to think about what the future can mean – for all Cypriots,” he said.

    “But these steps clearly demonstrate a commitment to continuing a dialogue on the way forward and working on initiatives that benefit all Cypriots,” he added.

    Secretary-General Guterres speaks to the media at the UN Headquarters, in New York.

    Supporting dialogue

    The United Nations has been playing a central role in efforts towards a comprehensive and mutually acceptable settlement to the Cyprus issue, supporting dialogue between Greek Cypriot and Turkish Cypriot leaders.

    While sufficient common ground has not been found to allow for the resumption of formal negotiations, engagement towards that end continues – including informal meetings convened by the Secretary-General and other top UN officials.

    Meanwhile, the UN Peacekeeping Force in Cyprus (UNFICYP), deployed since 1964, remains on the ground, helping to maintain stability across the island.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Secretary-General’s remarks to press following informal meeting on Cyprus

    Source: United Nations secretary general

    Ladies and gentlemen of the media,

    Thank you for joining us.

    Today, I convened a meeting I proposed in March with the clear goal of pursuing the constructive dialogue between the Greek Cypriot and Turkish Cypriot Leaders.

    I am grateful for the participation of His Excellency Nicos Christodoulides, and His Excellency Ersin Tatar.

    And I thank the Foreign Minister of Greece, His Excellency Giorgios Gerapetritis, the Foreign Minister of Türkiye, His Excellency Hakan Fidan, and the Minister of State for Europe, North America and Overseas Territories of the United Kingdom, His Excellency Stephen Doughty, who represents the guarantor powers of Cyprus. 

    From the very start of my mandate, I have been committed to the security and well-being of the Cypriots — the Greek Cypriots and the Turkish Cypriots.

    Once again, today’s discussions were constructive.

     Both leaders reviewed the progress on the six initiatives they agreed in March to build trust. 

     Out of these six initiatives, four have been achieved:

     –          the creation of a technical committee on youth;

    –          initiatives on the environment and climate change, including the impact on mining areas;

    –          the restoration of cemeteries;

    –          an agreement on demining will be closed once the final technical details are established;

    Discussions will continue on the remaining two:

    –         – the opening of four crossing points; and

    –          -solar energy in the buffer zone.

    In addition, they came to a common understanding on:

    –          -a consultative body for civil society engagement;

    –          -exchange of cultural artifacts;

    –          -an initiative on air quality monitoring; and

    –          -addressing microplastic pollution.

    It is critical to implement these initiatives – all of them – as soon as possible for the benefit of all Cypriots.

    We also agreed that I would have a joint meeting with Mr. Tatar and Mr. Christodoulides during the high-level week, and that there would be another informal meeting in the present format later this year.

    As with the six initiatives agreed in March, the initiatives agreed today have the potential to have a real and significant positive impact on peoples’ lives across the island.

    They are not merely symbolic gestures, but issues that require cooperation.

    There’s a long road ahead.

    And it is important to think about what the future can mean – for all Cypriots.

    But these steps clearly demonstrate a commitment to continuing a dialogue on the way forward and working on initiatives that benefit all Cypriots.

     Thank you.

    I will answer three questions.
    Question: Thank you. Thank you Secretary-General. Serife Cetin, Anadolu Agency. I just wanted to ask you, sir, what is the impediment that hinders progress on opening of new crossing points? What would you say is the main challenge on this issue?

    Secretary-General: We have reached an agreement on the crossing points themselves. There is a question of an itinerary in relation to one of them that will be further discussed now. But there was important progress in this regard.

    Question: The new points have not been, opening new crossing points have not been decided?

    Secretary-General: Before we need to finish the agreement. As I said, there is still a question of itinerary to be addressed in future discussions.

    Question: What is the problem with the itinerary?

    Secretary-General: These are very technical things that are in the language that I do not dominate.

    But as I said, there was a lot of progress, but there are still some aspects of itinerary that need to be addressed.

    Question: Mr. Secretary-General, would you consider this is a start for a new round of negotiations? Could you say that? Is it a new start for a new round?

    Secretary-General: I think that this is a process, a complex process. We all know that there are very different points of view from the two sides in relation to a solution on the problem of Cyprus. But I think we are building, step by step, confidence and creating the conditions to do concrete things to the benefit of the Cypriot people, and, with a total consensus that this process must go on.

    Question: Were you happy with the results?

    Secretary-General: I am happy, of course, I would like much more, but this is a complex issue and I think that we made progress that needs to be registered.

    Last question.

    Question: Thank you, Mr. Secretary-General, I have a question on Syria. As you know, we see another clashes between the Druze community and the new government in Syria. We saw another massacre a couple of months ago against Alawites, against Christians and the Kurds. So, the question is, in your opinion, do you think a federal system can be a solution for Syria, or do you think it’s something against its territorial integrity? Thank you

    Secretary-General: It’s absolutely essential to achieve two things. One is the unity of the Syrian state, in the respect of its sovereignty, but with the full integration of the different communities in the state of Syria, and with all communities fully respected and their rights fully respected. The second thing is the need to respect the territorial integrity of Syria. It is for the Syrians to solve the Syrian problem.

    Thank you very much.

    MIL OSI United Nations News –