Category: Eurozone

MIL-OSI Europe: Briefing – The fiscal situation in Romania – 10-07-2025

Source: European Parliament

This briefing outlines recent and past developments concerning Romania’s fiscal situation and the steps taken under the Excessive Deficit Procedure. On 4 June 2025, the Commission issued a recommendation stating that Romania had failed to take effective corrective action. Should the Council adopt a decision in this regard, the Commission would be obliged to propose the suspension of payments or commitments under the ESI Funds and the RRF. Such a suspension could carry significant economic and social repercussions. Finally, this briefing recounts the situation of Spain and Portugal which also faced a suspension of payments in 2016, and highlights the role of the European Parliament in this process.

MIL OSI Europe News –

July 14, 2025
MIL-OSI United Kingdom: Diplomacy in the digital age: Foreign Secretary’s speech, July 2025

Source: United Kingdom – Government Statements

Speech

Diplomacy in the digital age: Foreign Secretary’s speech, July 2025

Foreign Secretary David Lammy delivered a speech on diplomacy in the digital age whilst in Singapore.

It’s great to be here today.

As you have heard, I recently marked 25 years as a member of Parliament and this week one year as Foreign Secretary. It’s a pleasure to visit your great country following your sixtieth birthday as a nation.

Whenever I’ve come to Singapore and the wider ASEAN region, I’m struck by the innovative spirit, the creativity and the optimism.

Sixty years ago, Prime Minister Harold Wilson talked of the “white heat of technology” transforming British society and industry. Today, the whole world is being radically reconfigured by technology, but nowhere faster, or more successfully, than here.

I’m particularly pleased to be here after my second ASEAN foreign ministers meeting in Malaysia. In Laos last year, I promised to reconnect Britain to the Indo-Pacific and that is well underway.

In just over a year, I’ve made 5 visits spanning 10 countries to the region. I’ve no doubt this will rise during my time in this job.

The Indo-Pacific matters to the UK. ASEAN will be the world’s fastest-growing economic bloc over the next decade. Your investments into Britain like Malaysian firm SMD Semiconductor’s new R&D hub in Wales, your market of 700 million consumers are a huge part of our growth ambitions.

Over the past year, we have been delivering on our promise to bring our economies closer together. Our CPTPP membership now ratified, our free trade agreement with India now signed our Industrial and Trade Strategies now published all speak to a hugely ambitious future for Britain in the Indo-Pacific.

But we want to go much further.  We’re working with ASEAN on their Power Grid and economic resilience.  We support CPTPP widening, deepening, and starting dialogues with trading blocs like ASEAN and the EU. 

We are exploring other agreements, too, like a deeper FTA with South Korea or accession to the Digital Economic Partnership Agreement which Singapore co-founded. Today’s ‘digital trade’ will tomorrow simply be ‘trade’, and Britain is committed to making it faster, cheaper and easier.

As you in Singapore know very well this region is the crucible for global security. Partner countries like Britain must stand up for an open, stable and rules-based international system because our region’s security and your region’s security are inextricably linked.

Russia’s illegal invasion of Ukraine drove market turbulence in Asia. Any major supply chain disruption in Asia could push prices up in Britain. If we have learnt one lesson over the past decade, it is that economic security does not respect borders.

That is why Britain’s new National Security Strategy recommitted to the vision of a free and open Indo-Pacific region. Our Carrier Strike Group recently sailed through your waters – a deployment involving 12 other nations.

We’re deepening our many regional security partnerships including AUKUS and the Five Power Defence Arrangements.

HMS Prince of Wales, as we’ve heard, is participating in Exercise Bersama Lima in September and the Malaysian chair kindly invited me to the ASEAN Regional Forum just yesterday, where I underlined British support for ASEAN centrality and our growing cooperation against transnational crime and illicit finance.

In Singapore, you have proven over generations that it is not size which determines success it is strategic clarity. This is true of technology more than any other area. Singapore has shown what’s possible when digital innovation is matched with long-term thinking and national purpose.

Back in 1981, when most of us were still working out what a computer was, your leaders set up a National Computerisation Committee. In 2014, Prime Minister Lee Hsien Loong launched the whole-of-government Smart Nation initiative. Then in 2019, Teo Chee Hean unveiled a National AI Strategy.

Each time, your leaders were ahead of the game. Each time there was a broader lesson. Singapore didn’t get ahead by throwing money at the private sector and hoping for the best.

Instead, you built serious public capability like SingPass, thanks to deep technical expertise inside government and investments in areas like compute and data infrastructure.

Starting in this job, I said that Britain needed to do more listening and less lecturing. A huge part of my trip this week has been to listen and, I hope, learn lessons on how we can pursue a similarly long-term strategy embracing technology. That vision must include specific focus on the intersection of AI and diplomacy.

This is not yet a staple of foreign ministry and foreign ministers’ discussions at least in my experience. But I believe that unless we lift our heads above the rat-race of crises and summits and examine the longer-term trends reshaping our world we will be boiled like the proverbial frog.

AI is not just the next rung in the technological ladder. It will deliver a paradigm shift in the distribution and exercise of power. It will redefine how nations project influence how threats emerge and how we defend ourselves. It will therefore transform how diplomacy is conducted.

As Prime Minister Wong said earlier this year: “The once-rising tide of global cooperation that defined the past decades is giving way to one of growing competition and distrust.  As a result, the world is becoming more fragmented and disorderly”.

There is much evidence of emerging technology catalysing the deterioration of both domestic and international norms. AI is at the spearhead of hybrid threats like disinformation. It is not enough for responsible states to complain about others’ reckless behaviour.

If we do not invest in gaining technological edge then our influence will inevitably decline. So today I want to outline a more hopeful vision of a sovereign, AI-enabled foreign policy.

I am proud of the role British diplomacy played at the Bletchley AI Safety Summit, our creation of the AI Security Institute, our plans for a new counter-hybrid taskforce in the FCDO to ready us for this new age.

I’m pleased also to see our work with Singapore in areas such as Responsible AI in the Military Realm and with ASEAN on AI for development.

But there has been little discussion between Britain and partners in the Indo-Pacific and beyond on how to use AI and advanced technology to make our diplomacy more effective.

I am determined to address this gap as Foreign Secretary, bringing AI to the centre of the FCDO’s policy machine. Like most foreign ministries, too many Foreign Office practices have changed little over the past half century. But the old levers of government – briefings, memos, lengthy debates on drafting – are too slow and cumbersome for the pace of modern statecraft.

In an age of ever-accelerating speed and complexity we need the tools to match. Let me be clear: AI will obviously not solve foreign policy. It will not eliminate risk, nor remove the need for careful human judgement and the ability of people to build trusting relationships, as I have been doing with ASEAN partners this week.

Diplomacy in 2025 needs machine speed and a human touch. It can help us to make better decisions amidst rising uncertainty. It can improve our ability to detect early signals of crisis, to simulate the likely effects of policy choices and to respond with speed and confidence.

Imagine for a moment an AI-powered unit at the heart of a foreign ministry. That could catalyse patterns of military movement, energy flows, and online narratives, model how a diplomatic crisis in one part of the world will have ripple effects elsewhere, red-team our response to a crisis – attacking our own policies before others can. Or flag emerging risks that human analysts might miss, especially when they emerge in grey zones favoured by adversaries.

These capabilities are not science fiction. They are already being employed. The United States’ DARPA and KAIROS projects already simulate complex political developments and anticipate conflict escalation. Estonia’s STRATCOM Centre uses AI-enabled systems to detect disinformation campaigns in real time.

Of course, Singapore’s Ministry of Trade and Industry uses predictive analytics to flag risks to critical supply chains.

The question before us is not whether AI will shape foreign policy. It is who will shape it, and how.

In the British Foreign Office, this government is investing £290 million in reforming our Department, helping to equip our teams with the capabilities and technologies that the modern era demands.

But outside of the United States and China, no country has the scale to deliver all the capabilities we need independently.

My call today is therefore for more collaboration, more AI diplomacy within a perimeter of values. I want partners such as Britain and Singapore to align standards, share tools and develop models that reflect our shared principles.

Deep bilateral partnerships will be at the core of Britain’s approach. For us, our special relationship with the United States will remain foundational rooted in particular on our deep security links.

With the European Union, we can pursue AI cooperation through the prism of foreign policy and security, not just regulation, and I will be discussing this with Kaja Kallas as part of our recently agreed Security and Defence Partnership.

With India through the ‘Technology Security Initiative’ we agreed last year, we will focus collaboration more sharply in critical and emerging technologies.

And with other Indo-Pacific partners I hope that we can build on initiatives like the UK-ASEAN AI Innovation Summit later this year and extend cooperation to AI-enabled foreign policy.

I said that you in Singapore have shown the power of long-term thinking. The importance of a long-term vision, and I hope we can apply that same approach to breaking down the silos between foreign policy and technology.

We live in a volatile world. Technology is reshaping our societies, making power more diffuse. Nations like Britain and Singapore need to equip ourselves with the tools to navigate these shifts and that means fusing AI and diplomacy, focusing on a long view of change and doubling down on our shared interests.

Thank you.

Updates to this page

Published 12 July 2025

MIL OSI United Kingdom –

July 14, 2025
MIL-OSI USA: Family Ties: Siblings strengthen readiness, relationships during African Lion 2025

Source: United States Army

Back to

U.S. Army Southern European Task Force, Africa (SETAF-AF)

DODJI, Senegal — For many service members, participating in an international military exercise can feel like joining a larger, multinational family. For U.S. Army Maj. Carolyn Vandeventer and her younger brother, U.S. Army Master Sgt. Stuart Vandevick, that sentiment is literal.

The siblings were both deployed to Senegal in support of African Lion 2025 (AL25), U.S. Africa Command’s largest annual combined joint exercise. Vandeventer, a logistics officer assigned to the 79th Theater Sustainment Command (Forward), U.S. Army Reserve, based in Vicenza, Italy, and Vandevick, a key member of the exercise’s mayor cell assigned to the 561st Regional Support Group in Elkhorn, Nebraska, are sharing a rare opportunity to serve together while supporting multinational training at Centre d’Entraînement Tactique 2 (CET2) in Dodji.

This year’s iteration of AL25 emphasizes readiness, interoperability and relationship-building to enhance warfighting capabilities among partner nations. In that spirit, the Vandeventer siblings reinforce a core principle of the exercise: strong teams are built on trust, collaboration—and sometimes, family.

“It started off as a joke over Thanksgiving,” said Vandeventer. “I told Stuart, ‘Hey, your new unit falls under mine now. Want to come to Senegal?’ But the more I thought about it, the more it made sense.”

What started as a joke soon turned into reality.

“We’ve both been in the Army for over 19 years,” said Vandeventer. “But we’ve never actually worked the same mission—until now.”

Vandevick quickly accepted the offer.

Tasked with overseeing base operations and sustainment efforts as part of the mayor cell, his responsibilities complemented his sister’s strategic role in managing logistics at the operational level. Together, their coordination added a personal dimension to an already complex multinational effort.

“Having Carolyn here makes the mission more personal,” said Vandevick. “It underscores how building trust and close relationships—whether with a sibling or a multinational partner—is essential to overcoming challenges and getting the job done.”

Their shared experience also illustrates the broader objective of African Lion: strengthening ties and improving readiness across allied and partner forces.

“African Lion thrives on personal connections that reinforce military cooperation,” said U.S. Army Col. Matthias E. Greene, the senior U.S. officer for AL25 in Senegal. “Having siblings serve side by side underscores our emphasis on building genuine partnerships at every level.”

In Senegal, AL25 featured field training exercises, live-fire ranges and medical readiness operations conducted by troops from Côte d’Ivoire, Mauritania, the Netherlands, Senegal and the U.S.

Across the wider theater, more than 10,000 participants from over 50 nations took part in coordinated activities across Ghana, Morocco, Senegal and Tunisia.

Vandeventer said having her brother nearby was both operationally useful and personally meaningful.

“Because we’ve both been in the Army a long time, working together here has felt natural,” she said. “He understands how the mayor cell functions from his background in a regional support group, and that’s helped me tremendously. We’re in sync in a way only siblings can be—sometimes it feels like we can read each other’s minds.”

Beyond the mission, she says, the deployment offered something even rarer: time together.

“Other than Thanksgiving, I hadn’t seen him in years,” she said. “Serving overseas, I don’t get many chances like this. Getting to video call our parents from the same place—from a continent away—was something special.”

Their bond hasn’t gone unnoticed.

“People in the dining facility or the tactical operation center (TOC) will see us interact and ask someone nearby, ‘Wait, are they related?’” Vandevent said, laughing. “The looks on their faces are priceless. I’ll give Stuart a big bear hug—definitely not standard between a field grade officer and an NCO—and we’ll both say, ‘Yes way.’”

African Lion 25 reinforces U.S. and partner nations’ readiness and collective resolve to ensure peace through strength.

About African Lion

AL25, the largest annual military exercise in Africa, brings together over 50 nations, including seven NATO allies and 10,000 troops to conduct realistic, dynamic and collaborative training in an austere environment that intersects multiple geographic and functional combatant commands. Led by U.S. Army Southern European Task Force, Africa (SETAF-AF) on behalf of the U.S. Africa Command, AL25 takes place from April 14 to May 23, 2025, across Ghana, Morocco, Senegal, and Tunisia. This large-scale exercise will enhance our ability to work together in complex, multi-domain operations—preparing forces to deploy, fight and win.

About SETAF-AF

U.S. Army Southern European Task Force, Africa (SETAF-AF) prepares Army forces, executes crisis response, enables strategic competition and strengthens partners to achieve U.S. Army Europe and Africa and U.S. Africa Command campaign objectives.

Follow SETAF-AF on: Facebook, X, Instagram, YouTube, LinkedIn & DVIDS.

MIL OSI USA News –

July 14, 2025
MIL-OSI China: China edge USA to conclude women’s VNL

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

China claimed another come-from-behind 3-2 victory over the United States on Sunday, closing the women’s Volleyball Nations League (VNL) preliminaries with four consecutive wins.

Wu Mengjie led China with 27 points on 26 kills and an ace, while Zhuang Yushan and Gong Xiangyu contributed 18 and 14 points, respectively. The Chinese team rallied past the hosts 18-25, 19-25, 25-21, 25-16, 18-16 for their third five-set win in Arlington.

Earlier in the week, China had also defeated the Dominican Republic and Germany in five sets, and Canada 3-1.

“I am pleased with the resilience demonstrated by our players,” said China head coach Zhao Yong.

Trailing 5-4 in the tiebreak, China went on a 5-1 run to level the score at 9-9. After Wang Yuanyuan delivered a key block to give China a 14-13 lead, the Americans fended off three match points before Wu’s smash and a final point from Zhuang sealed the win.

China finished fifth among the 18 teams in the preliminary round, with nine wins, three losses, and 24 points. They will face Poland, the fourth-place finisher and host of the Finals, in the quarterfinals.

The United States, led by Sarah Franklin’s 32 points, ended eighth with a 7-5 record. They will take on top-seeded Italy for a spot in the semifinals.

Brazil, Japan, Turkey, and Germany also advanced to the Finals, which will be held in Lodz, Poland, from July 23 to 27.

MIL OSI China News –

July 14, 2025
MIL-OSI: Himax and Rabboni Join Forces to Launch World’s First Scalable Multi-Scenario Endpoint AI Sensing System – bboni Ai Enabling Real-Time AI Inference on Wearable Devices
Source: GlobeNewswire (MIL-OSI)

TAINAN, Taiwan and HSINCHU, Taiwan, July 14, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, and Rabboni Co., Ltd. (“Rabboni”), a Taiwan-based company integrating next-generation semiconductor sensing and edge computing to enable smart living, smart sensing and wearable devices, today jointly announced the unveiling of bboni Ai, the world’s first multi-scenario endpoint AI sensing system. bboni Ai integrates Rabboni’s high-precision IMU (Inertial Measurement Unit) motion sensors with Himax’s ultralow power WiseEye2 AI processor, opening a new chapter for real-time endpoint AI inference for wearable devices and accelerating the transition of AI from concept to real-world implementation.

WiseEye2 AI processor features a high-performance architecture built on Cortex-M55 cores and is equipped with the Ethos-U55 AI inference engine. It supports always-on sensing, dynamic voltage and frequency scaling (DVFS), and a multi-level power management structure. The design empowers dynamic adjustments in core voltage and frequency based on the scenarios of wearable devices, enabling data collection, event triggering, and endpoint AI inference at ultralow power consumption of just a few milliwatts. This architecture significantly reduces reliance on cloud transmission, effectively lowering latency and power consumption. It also enhances real-time responsiveness and data privacy, delivering a commercially viable endpoint AI solution for devices requiring long-hour operation. Notably, WiseEye™ AI can also collaborate with cloud-based large language models (LLMs), further enhancing the device’s ability to perceive, understand, and interact with complex real -world scenarios.

bboni Ai Brings AI to the Endpoint: On-Device AI Processing. No Cloud Needed

Featuring integrated motion sensing capability and ultralow power AI powered by Himax’s WiseEye2 AI processor, the bboni Ai system enables real-time motion analysis, posture recognition, and behavior interpretation directly on the endpoint device, eliminating the need for cloud computing. With low-latency, high-efficiency, and privacy-preserving on-device AI, bboni Ai delivers a truly scalable and deployable endpoint AI solution. bboni Ai not only enhances system stability but also meets the stringent requirements for data immediacy and security in applications such as healthcare and education.

bboni Ai Transforms Everyday Life Across Diverse Wearable Applications: Demonstrates broad real-world readiness across multiple use cases
- Smart Healthcare: Supports WHO’s ICOPE (Integrated Care for Older People) framework, facilitating seniors to monitor physical function and rehabilitation progress at home, reducing the cost of care
- Sports Technology: Real-time detection of user movements and behavior, providing instant motion feedback, optimizing training postures through AI analysis, improving training efficiency and reducing the risk of injury
- Education and Interaction: Enables hands-on STEM and AI education by leveraging motion sensing and behavior analysis to foster interdisciplinary learning and innovation, cultivating the next generation of talent
Powered by Taiwan–Based Team with bboni Ai Developer Program to Launch in July 2025

To accelerate the development of innovative AI applications, Himax will officially launch the bboni Ai Developer Program in late-July 2025. This initiative will provide a complete set of APIs and SDKs, inviting developers, academic institutions, and corporate partners jointly to create a robust and commercial-ready endpoint AI ecosystem, advancing Taiwan’s AI technology around the globe.

“The bboni Ai system was entirely developed by a Taiwanese team, integrating key technologies such as semiconductor design, sensor technology, AI algorithms, and software-hardware integration, showcasing Taiwan’s technical strength in smart sensing and endpoint AI,” said Richard Chiang, Chairman of Rabboni.

“WiseEye’s ultralow power and always-on sensing capabilities make it a perfect fit for power-constrained endpoint devices, especially wearable applications in smart care, interactive education, and health monitoring that require long-hour operation,” said Mark Chen, Vice President of Smart Sensing Business at Himax. “Himax is excited to collaborate with Rabboni to integrate our respective technological strengths and bring AI out of the conceptual stage and into everyday life, enabling truly meaningful smart applications.”

About Rabboni Co., Ltd.

Rabboni Co., Ltd., originating from Silicon Instruments Co., Ltd. founded in 2009, is dedicated to integrating next-generation semiconductor sensing and edge computing to build the foundation of smart living. The company empowers professionals across various service domains to achieve digital and AI transformation, thereby enhancing their value-added services. For years, Rabboni has supported National Yang Ming Chiao Tung University (NYCU) in university social responsibility (USR) programs and MIT-collaborated science outreach projects, as well as medical research initiatives. Through these efforts, Rabboni has developed interdisciplinary platform technologies and established a comprehensive industry chain for smart sensing and wearable technologies.

Rabboni also introduced the TEA Innovation Service Platform, inspired by the concept: “Technology x Experts x Aids = Brew better futures.” In collaboration with Himax’s engineering team, Rabboni successfully completed the development of the bboni Ai platform. An Endpoint AI Startup Competition will soon be co-hosted by Himax, Rabboni, and NYCU, featuring the world’s tiniest and ultralow power bboni Ai system.

About Himax Technologies, Inc.

Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEye^TM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,609 patents granted and 370 patents pending approval worldwide as of June 30, 2025.

http://www.himax.com.tw

Forward Looking Statements

Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.

Company Contacts:

Karen Tiao, Head of IR/PR
Himax Technologies, Inc.
Tel: +886-2-2370-3999
Fax: +886-2-2314-0877
Email: hx_ir@himax.com.tw
www.himax.com.tw

Mark Schwalenberg, Director
Investor Relations – US Representative
MZ North America
Tel: +1-312-261-6430
Email: HIMX@mzgroup.us
www.mzgroup.us

The MIL Network –
July 14, 2025
MIL-OSI Banking: France: Financial System Stability Assessment
Source: International Monetary Fund
Preview Citation

Format: Chicago

International Monetary Fund. Monetary and Capital Markets Department “France: Financial System Stability Assessment”, IMF Staff Country Reports 2025, 180 (2025), accessed July 14, 2025, https://doi.org/10.5089/9798229017428.002

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Summary

The French financial system has proven resilient to the shocks of the last five years but faces headwinds from domestic and external policy uncertainty and high fiscal consolidation needs. Bank-insurance conglomerates that include four Global Systemically Important Banks dominate the financial landscape, and financial markets have become increasingly complex in the post-Brexit environment. Banks’ capital and liquidity buffers remain high, but with low profitability versus peers.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Commercial banks, Credit, Crime, Financial institutions, Financial regulation and supervision, Financial sector policy and analysis, Financial sector stability, Loans, Macroprudential policy, Money, Mutual funds, Stress testing

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Commercial banks, Credit, Financial sector stability, Liquidity requirements, Loans, Macroprudential policy, Mutual funds, Stress testing

Publication Details
MIL OSI Global Banks –
July 14, 2025
MIL-OSI: Nokia network APIs now available on Google Cloud Marketplace, making it even easier for developers to utilize
Source: GlobeNewswire (MIL-OSI)

Nokia network APIs now available on Google Cloud Marketplace, making it even easier for developers to utilize
- The Nokia network APIs available on Google Cloud Marketplace are Quality of Service on Demand, Number Verification, and Device Location Verification.
14 July 2025
Espoo, Finland – Nokia today announced that three of its network APIs – Quality of Service on Demand, Number Verification, and Device Location Verification – are now available on Google Cloud Marketplace, making it even easier for thousands of developers around the world to access the APIs to write applications that developer customers can use.

Google Cloud Marketplace offers a universal catalog of solutions from Google Cloud and its partner ecosystem for customers to discover and use.

Developers can use the Nokia APIs exposed via Google Cloud Marketplace to tap into multiple mobile networks and create new applications, in conjunction with the capabilities provided by Nokia’s Network as Code platform with developer portal, which gives developers standardized access to network functions without having to navigate any of the underlying network technologies. Additional Nokia APIs are expected to be available on Google Cloud Marketplace in the future.

“The availability of Nokia APIs on Google Cloud Marketplace is about giving developers easy access and simplified use of trusted network intelligence. This is just the latest step in Nokia’s efforts to connect programmable network assets to leading developer ecosystems,” said Shkumbin Hamiti, Vice President and Head of Network Monetization Platform, Cloud and Network Services, Nokia.

Nokia APIs are patterned after GSMA Open Gateway and CAMARA open standards, allowing developers to run applications that work globally, enabled by Nokia’s growing CSP partnership network.

Through automation, the Quality of Service on demand API can effectively ask a network for guaranteed and reliable connectivity for a specified amount of time, such as for a live stream at a large event with thousands of people.

Nokia’s Number Verification API can verify whether a phone number belongs to the person using it, allowing industries such as financial services and retail to mitigate fraud and enhance user verification.

Similarly, Device Location Verification can authenticate a commercial transaction request to a device owner, based on the owner’s phone location and the location from which the request is coming.

“This collaboration with Nokia empowers developers and enterprises by delivering advanced telecom network capabilities directly through Google Cloud Marketplace. Making network APIs like Number Verification and Device Location Verification easily accessible unlocks new possibilities for secure, intelligent digital experiences, underscoring the value created when telco and cloud innovation converge,” said Muninder Singh Sambi, VP and GM, Networking and Security, Google Cloud.

About Nokia

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

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

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

Media inquiries
Nokia Press Office
Email: Press.Services@nokia.com

Follow us on social media
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The MIL Network –
July 14, 2025
MIL-Evening Report: UNESCO grants World Heritage status to Khmer Rouge atrocity sites – paving the way for other sites of conflict

Source: The Conversation (Au and NZ) – By Rachel Hughes, Associate Professor of Geography, The University of Melbourne

A series of atrocity sites of the Khmer Rouge regime in Cambodia have been formally entered onto the World Heritage list, as part of the 47th session of the World Heritage Committee.

This is not only important for Cambodia, but also raises important questions for atrocity sites in Australia.

Before this, the World Heritage list only recognised seven “sites of memory” associated with recent conflicts, which UNESCO defines as “events having occurred from the turn of the 20th century” under its criterion vi. These sat within a broader list of more than 950 cultural sites.

In recent years, experts have intensely debated the question of whether a site associated with recent conflict could, or should, be nominated and evaluated for World Heritage status. Some argue such listings would contradict the objectives of UNESCO and its spirit of peace, which was part of the specialised agency’s mandate after the destruction of two world wars.

Sites associated with recent conflicts can be divisive. For instance, when Japan nominated the Hiroshima Peace Memorial, both China and the United States objected and eventually disassociated from the decision. The US argued the nomination lacked “historical perspective” on the events that led to the bomb’s use. Meanwhile, China argued listing the property would not be conducive for peace as other Asian countries and peoples had suffered at the hands of the Japanese during WWII.

Heritage inscriptions risk reinforcing societal divisions if they conserve a particular memory in a one-sided way.

Nonetheless, the World Heritage Committee decided in 2023 to no longer preclude such sites for inscription. This was done partly in recognition of how these sites may “serve the peace-building mission of UNESCO”.

Shortly after, three listing were added: the ESMA Museum and Site of Memory, a former clandestine centre for detention, torture and extermination in Argentina; memorial sites of the Rwandan genocide at Nyamata, Murambi, Gisozi and Bisesero; and funerary and memory sites of the first world war in Belgium and France.

A number of legacy sites associated with Nelson Mandela’s human rights struggle in South Africa were also added last year.

Atrocities of the Khmer Rouge

The recently inscribed Cambodian Memorial Sites include prisons S-21 (now known as Tuol Sleng Genocide Museum) and M-13, as well as the execution site Choeung Ek.

These sites were nominated for their value in showing the development of extreme mass violence in relation to the security system of the Khmer Rouge in 1975–79. They also have value as places of memorialisation, peace and learning.

The Khmer Rouge developed its methods of disappearance, incarceration and torture of suspected “enemies” during the civil conflict of 1970–75. It established a system of local-level security centres in so-called “liberated” areas.

One of these centres was known as M-13, a small, well-hidden prison in the country’s rural southwest. A man named Kaing Guek Eav – also called Duch – was responsible for prisoners at M-13.

Shortly after the entire country fell to the Khmer Rouge in April 1975, Duch was assigned to lead the headquarters of the regime’s security system: a large detention and torture centre known as S-21.

Under his instruction, tens of thousands of people were detained in inhumane conditions, tortured and interrogated. Many detainees were later taken to the outskirts of the city to be brutally killed and buried in pits at a place called Choeung Ek.

The sites operated until early 1979, when the Khmer Rouge was forced from power.

The S-21 facility and the mass graves at Choeung Ek have long been memorialised as the Tuol Sleng Genocide Museum and the Choeung Ek Genocidal Centre.

However, the former M-13 site shows few visual clues to its prior use, and has only recently been investigated by an international team led by Cambodian archaeologist and museum director Hang Nisay. The site is on an island in a small river that forms the boundary between the Kampong Chhnang and Kampong Speu provinces.

Further research, site protection and memorialisation activities will now be supported, with help from locals.

From repression to reflection

The Cambodian memorial sites have been recognised as holding “outstanding universal value” for the way they evidence one of the 20th century’s worst atrocities, and are now places of memory.

In its nomination dossier for these sites, Cambodia drew on findings from the Khmer Rouge Tribunal to verify and link the conflict and the sites.

In 2010, the tribunal found Duch guilty of crimes against humanity and grave breaches of the Geneva Conventions. Duch was sentenced to 30 years in prison (which eventually turned into life imprisonment). He died in 2020.

While courts such as the International Criminal Court have previously examined the destruction of heritage as an international crime, drawing on legal findings to assert heritage status is an unusual inverse. It raises important questions about the legacies of former UN-supported tribunals and the ongoing implications of their findings.

The recent listings also raise questions for Australia, which has many sites of documented mass killing associated with colonisation and the frontier wars that lasted into the 20th century.

Might Australia nominate any of these atrocity sites in the future? And could other processes such as truth-telling, reparation and redress support (or be supported by) such nominations?

Rachel Hughes has consulted to UNESCO Cambodia.

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

– ref. UNESCO grants World Heritage status to Khmer Rouge atrocity sites – paving the way for other sites of conflict – https://theconversation.com/unesco-grants-world-heritage-status-to-khmer-rouge-atrocity-sites-paving-the-way-for-other-sites-of-conflict-260923

MIL OSI Analysis – EveningReport.nz –

July 14, 2025
MIL-OSI: Ellomay Capital Ltd. Announces a Proposed Private Placement of Ordinary Shares to Israeli Institutional and Classified Investors for Approximately NIS 50 Million
Source: GlobeNewswire (MIL-OSI)

Tel-Aviv, Israel, July 14, 2025 (GLOBE NEWSWIRE) — Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (“Ellomay” or the “Company”), a renewable energy and power generator and developer of renewable energy and power projects in Europe, USA and Israel, today announced that it received and accepted, following the approval of its Board of Directors, commitments from several Israeli institutional and classified investors to buy 926,000 ordinary shares of the Company in a private placement (the “Private Placement”). As a result of the Private Placement, an affiliate of Menora Mivtachim Holdings Ltd. (one of Israel’s largest institutional investors), which holds securities for the benefit of members of provident funds or pension funds, is expected to become an interested party in the Company, holding approximately 6% of the Company’s outstanding shares.

The price per share in the Private Placement was set at NIS 54 (approximately $16.3) and the gross proceeds to the Company are expected to be approximately NIS 50 million. The price per share was determined on July 9, 2025. The closing price per share on July 8, 2025 and July 9, 2025 on the Tel Aviv Stock Exchange was NIS 56.88 and NIS 58.53, respectively. The Company intends to use the net proceeds from this offering for general corporate purposes.

The closing of the Private Placement is subject to the receipt of regulatory approvals, which are expected to be obtained during July 2025.

The Private Placement described in this report, if made, will be made in Israel only and not to U.S. persons. The ordinary shares, if sold, will not be registered under the U.S. Securities Act of 1933, as amended, and will not be offered or sold in the United States without registration or applicable exemption from the registration requirements according to the U.S. Securities Act of 1933. Nothing in this press release constitutes a public offering or an invitation to purchase the Company’s securities.

About Ellomay Capital Ltd.

Ellomay is an Israeli based company whose shares are registered with the NYSE American and with the Tel Aviv Stock Exchange under the trading symbol “ELLO”. Since 2009, Ellomay focuses its business in the renewable energy and power sectors in Europe, USA and Israel.

To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy, Spain, the Netherlands and Texas, USA, including:
- Approximately 335.9 MW of operating solar power plants in Spain (including a 300 MW solar plant in owned by Talasol, which is 51% owned by the Company) and 51% of approximately 38 MW of operating solar power plants in Italy;
- 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel’s largest private power plants with production capacity of approximately 850MW, representing about 6%-8% of Israel’s total current electricity consumption;
- Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively;
- 83.333% of Ellomay Pumped Storage (2014) Ltd., which is involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel;
- 51% of solar projects in Italy with an aggregate capacity of 160 MW that commenced construction processes;
- Solar projects in Italy with an aggregate capacity of 134 MW that have reached “ready to build” status; and
- Solar projects in the Dallas Metropolitan area, Texas, USA with an aggregate capacity of approximately 27 MW that are connected to the grid and additional 22 MW that are awaiting connection to the grid.
For more information about Ellomay, visit http://www.ellomay.com.

Information Relating to Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company’s management. All statements, other than statements of historical facts, included in this press release regarding the Company’s plans and objectives, expectations and assumptions of management are forward-looking statements. The use of certain words, including the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by the Company’s forward-looking statements, including inability to receive regulatory approvals, changes in electricity prices and demand, regulatory changes increases in interest rates and inflation, changes in the supply and prices of resources required for the operation of the Company’s facilities (such as waste and natural gas) and in the price of oil, the impact of the war and hostilities in Israel and Gaza and between Israel and Iran, the impact of the continued military conflict between Russia and Ukraine, technical and other disruptions in the operations or construction of the power plants owned by the Company, inability to obtain the financing required for the development and construction of projects, inability to advance the expansion of Dorad, increases in interest rates and inflation, changes in exchange rates, delays in development, construction, or commencement of operation of the projects under development, failure to obtain permits – whether within the set time frame or at all, climate change, and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. These and other risks and uncertainties associated with the Company’s business are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Kalia Rubenbach (Weintraub)
CFO
Tel: +972 (3) 797-1111
Email: hilai@ellomay.com

The MIL Network –
July 14, 2025
MIL-OSI: Karolinska Development’s portfolio company Modus Therapeutics completes enrollment in part 1 of its phase 2a study with sevuparin
Source: GlobeNewswire (MIL-OSI)

STOCKHOLM, SWEDEN July 14, 2025. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Modus Therapeutics has completed patient enrollment on schedule to part 1 of its ongoing clinical phase 2a study with sevuparin, which is being evaluated as a treatment for patients with chronic kidney disease with anemia.

Modus Therapeutics, listed on Nasdaq First North Growth Market, has successfully completed the patient enrollment for the initial part of its clinical phase 2a study. This part aims to evaluate the safety and established dosing levels of sevuparin in both patients with chronic kidney disease (stage 3-5) and healthy volunteers. The study, conducted across two leading nephrology centers in Italy, will guide optimal dosing for the next part of the phase 2a study, a proof-of-concept study set to evaluate the therapeutic potential following repeated dosing.

“Reaching this milestone on schedule positions Modus well for the next important step in validating the therapeutic potential of sevuparin. We’re pleased to continue supporting them as they advance into the proof-of-concept part, representing a critical value inflection point for the program,” says Viktor Drvota, CEO, Karolinska Development.

Karolinska Development’s ownership in Modus Therapeutics amounts to 66 percent.

For further information, please contact:

Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com

Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
Phone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com

TO THE EDITORS

About Karolinska Development AB

Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients’ lives while providing an attractive return on investment to shareholders.

Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.

Karolinska Development has a portfolio of eleven companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.

The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.

For more information, please visit www.karolinskadevelopment.com.

Attachment
- KD PR Modus 2025-07-10 ENG
The MIL Network –
July 14, 2025
MIL-OSI: Karolinska Development’s portfolio company Modus Therapeutics completes enrollment in part 1 of its phase 2a study with sevuparin
Source: GlobeNewswire (MIL-OSI)

STOCKHOLM, SWEDEN July 14, 2025. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Modus Therapeutics has completed patient enrollment on schedule to part 1 of its ongoing clinical phase 2a study with sevuparin, which is being evaluated as a treatment for patients with chronic kidney disease with anemia.

Modus Therapeutics, listed on Nasdaq First North Growth Market, has successfully completed the patient enrollment for the initial part of its clinical phase 2a study. This part aims to evaluate the safety and established dosing levels of sevuparin in both patients with chronic kidney disease (stage 3-5) and healthy volunteers. The study, conducted across two leading nephrology centers in Italy, will guide optimal dosing for the next part of the phase 2a study, a proof-of-concept study set to evaluate the therapeutic potential following repeated dosing.

“Reaching this milestone on schedule positions Modus well for the next important step in validating the therapeutic potential of sevuparin. We’re pleased to continue supporting them as they advance into the proof-of-concept part, representing a critical value inflection point for the program,” says Viktor Drvota, CEO, Karolinska Development.

Karolinska Development’s ownership in Modus Therapeutics amounts to 66 percent.

For further information, please contact:

Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com

Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
Phone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com

TO THE EDITORS

About Karolinska Development AB

Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients’ lives while providing an attractive return on investment to shareholders.

Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.

Karolinska Development has a portfolio of eleven companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.

The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.

For more information, please visit www.karolinskadevelopment.com.

Attachment
- KD PR Modus 2025-07-10 ENG
The MIL Network –
July 14, 2025
MIL-OSI: INVL Baltic Sea Growth Fund has completed the acquisition of the Pehart Group in Romania

Source: GlobeNewswire (MIL-OSI)

INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltics, has completed the investment in Pehart Group, a leading producer of household and industrial paper products in Romania. The consortium of International Finance Corporation (IFC), Banca Transilvania and ING Bank Romania provided an over EUR 150 million financing package with a significant sustainable linked component to fund the transaction and further development of Pehart Group.

The transaction with Abris Capital Partners, the independent private equity fund that previously held Pehart Group, was completed on 11^th July.

Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund, said: “We are excited to back Pehart Group management team in bringing the company to the next level and we will support significant investments into expansion of Pehart’s manufacturing capacities and add-on acquisitions in the region strengthening Pehart Group’s market leadership and driving its next phase of growth.”

Gabriel Stanciu, CEO Pehart Group, commented: ”With the completion of the transaction with INVL Baltic Sea Growth Fund, we are honoured to join the leading private equity fund in the Baltics and benefit from its vision and expertise. We see this partnership as an opportunity to accelerate our development plans and strengthen Pehart Group’s position as a regional leader in the paper products industry. We will continue to invest in cutting edge technologies, diversify our product portfolio and expand our presence in international markets. We thank our previous partners, Abris Capital Partners, for their support in achieving our growth objectives in the past years. We look confidently to the future and are ready to capitalize on new opportunities together with INVL Baltic Sea Growth Fund.”

“The closing of this transaction is the culmination of a successful partnership with Pehart Group and its management team, whom we thank for the excellent collaboration over the past years. Together, we have succeeded in transforming Pehart into a strong regional player. We are proud of the progress of the company and the values built over this time and are confident that Pehart will continue to grow at an accelerated pace alongside its new partner. This transaction stands for Abris’ commitment to supporting high-potential businesses and ambitious management teams that can deliver sustainable performance in strategic sectors for the Central and Eastern European economy”, said Adrian Stănculescu, Partner and Head of Romania at Abris Capital Partners.

Equity for the deal was provided by the INVL Baltic Sea Growth Fund and some of its investors co-investing via INVL BSGF Co-Invest Fund II.

International Finance Corporation (IFC), a member of the World Bank Group, has led syndication of overt EUR 150 million financing package for Pehart Group.

“This investment underscores IFC’s commitment to fostering sustainable economic growth while addressing Romania’s energy challenges,” said Marcelo Castellanos, IFC`s Senior Country Manager for Southeastern Europe. “By supporting Pehart, we are advancing the country’s green transition, promoting job creation in underserved regions, and demonstrating the key role of private capital in achieving climate goals.”

“This partnership reflects our ongoing commitment to support our clients’ strategic plans and to provide smart financial solutions, tailored to their needs in a strategic sector. Thus, we are proud to support Pehart in their plan for sustainable growth and to consolidate their position as a leading player on the regional market”, said Cosmin Călin, Senior Executive Director of Large Corporate Clients, Structured Finance and Factoring Banca Transilvania.

“ING has a long partnership with Abris in Romania, including Pehart. We are proud to continue supporting a local business in growing further and pursuing regional ambitions, as we are a solid supporter for the expansion of the Romanian economy. We thank Abris and Pehart for the partnership built along these years and wish many successes to Invalda INVL Group and Pehart going forward” said Raluca Tintoiu, Head of Wholesale Banking and deputy CEO at ING Romania.

Deimantė Korsakaitė, Managing Partner at INVL Private Equity Fund II and INVL Baltic Sea Growth Fund, commented: “Finalizing the acquisition of Pehart Group marks a key milestone for the INVL Baltic Sea Growth Fund, completing a value-driven portfolio of ten companies across the Baltics, Poland and Romania, with one already successfully exited. With the launch of its successor INVL Private Equity Fund II earlier this year, which surpassed the target and reached EUR 305 million at first close, we are well-positioned to continue our investment strategy and supporting ambitious businesses across the Baltics, CEE region and the broader EU.”

With a 187-year tradition, Pehart Group is one of the largest paper manufacturers in Southeast Europe with a portfolio ranging from toilet paper, paper towels, napkins, and other hygiene paper products to jumbo rolls, used in the converting process into paper products for household and industrial use. In 2024, Pehart Group succeeded in strengthening its leading position on the market through production efficiency and strategic investments. The focus on diversifying the product portfolio led to new launches, such as the SOVIO brand, targeting the Away-from-Home sector, as well as expansion into international markets. In 2024, the Pehart Group generated revenues of EUR 165 million and employed more than 550 people across its companies.

Pehart Group is defined by continuous evolution, efficiency, respect for the planet’s resources and for the people who build its story every day. It continuously optimizes its products and services by creating a sustainable and equitable environment for a renewable future. Pufina, one of the most popular tissue paper brands in Romania, Alint, Altessa and SOVIO, the Away-from-Home products division, are part of the Pehart Group portfolio.

About the INVL Baltic Sea Growth Fund

With a fund size of EUR 165 million, the INVL Baltic Sea Growth Fund is the leading private equity fund in the Baltics. Its anchor investor is the European Investment Fund (EIF), which is a part of the European Investment Bank, and committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or the Junker Plan) while also allocating resources from the Baltic Innovation Fund (a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia,  to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics). The fund is managed by the leading asset management group in the Baltics Invalda INVL group, which companies manage or have under supervision over EUR 1.9 billion of assets.

Contact person for further information:
Vytautas Plunksnis, Head of Private Equity at INVL Asset Management,
Vytautas.Plunksnis@invl.com

The MIL Network –

July 14, 2025
MIL-OSI: INVL Baltic Sea Growth Fund has completed the acquisition of the Pehart Group in Romania

Source: GlobeNewswire (MIL-OSI)

INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltics, has completed the investment in Pehart Group, a leading producer of household and industrial paper products in Romania. The consortium of International Finance Corporation (IFC), Banca Transilvania and ING Bank Romania provided an over EUR 150 million financing package with a significant sustainable linked component to fund the transaction and further development of Pehart Group.

The transaction with Abris Capital Partners, the independent private equity fund that previously held Pehart Group, was completed on 11^th July.

Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund, said: “We are excited to back Pehart Group management team in bringing the company to the next level and we will support significant investments into expansion of Pehart’s manufacturing capacities and add-on acquisitions in the region strengthening Pehart Group’s market leadership and driving its next phase of growth.”

Gabriel Stanciu, CEO Pehart Group, commented: ”With the completion of the transaction with INVL Baltic Sea Growth Fund, we are honoured to join the leading private equity fund in the Baltics and benefit from its vision and expertise. We see this partnership as an opportunity to accelerate our development plans and strengthen Pehart Group’s position as a regional leader in the paper products industry. We will continue to invest in cutting edge technologies, diversify our product portfolio and expand our presence in international markets. We thank our previous partners, Abris Capital Partners, for their support in achieving our growth objectives in the past years. We look confidently to the future and are ready to capitalize on new opportunities together with INVL Baltic Sea Growth Fund.”

“The closing of this transaction is the culmination of a successful partnership with Pehart Group and its management team, whom we thank for the excellent collaboration over the past years. Together, we have succeeded in transforming Pehart into a strong regional player. We are proud of the progress of the company and the values built over this time and are confident that Pehart will continue to grow at an accelerated pace alongside its new partner. This transaction stands for Abris’ commitment to supporting high-potential businesses and ambitious management teams that can deliver sustainable performance in strategic sectors for the Central and Eastern European economy”, said Adrian Stănculescu, Partner and Head of Romania at Abris Capital Partners.

Equity for the deal was provided by the INVL Baltic Sea Growth Fund and some of its investors co-investing via INVL BSGF Co-Invest Fund II.

International Finance Corporation (IFC), a member of the World Bank Group, has led syndication of overt EUR 150 million financing package for Pehart Group.

“This investment underscores IFC’s commitment to fostering sustainable economic growth while addressing Romania’s energy challenges,” said Marcelo Castellanos, IFC`s Senior Country Manager for Southeastern Europe. “By supporting Pehart, we are advancing the country’s green transition, promoting job creation in underserved regions, and demonstrating the key role of private capital in achieving climate goals.”

“This partnership reflects our ongoing commitment to support our clients’ strategic plans and to provide smart financial solutions, tailored to their needs in a strategic sector. Thus, we are proud to support Pehart in their plan for sustainable growth and to consolidate their position as a leading player on the regional market”, said Cosmin Călin, Senior Executive Director of Large Corporate Clients, Structured Finance and Factoring Banca Transilvania.

“ING has a long partnership with Abris in Romania, including Pehart. We are proud to continue supporting a local business in growing further and pursuing regional ambitions, as we are a solid supporter for the expansion of the Romanian economy. We thank Abris and Pehart for the partnership built along these years and wish many successes to Invalda INVL Group and Pehart going forward” said Raluca Tintoiu, Head of Wholesale Banking and deputy CEO at ING Romania.

Deimantė Korsakaitė, Managing Partner at INVL Private Equity Fund II and INVL Baltic Sea Growth Fund, commented: “Finalizing the acquisition of Pehart Group marks a key milestone for the INVL Baltic Sea Growth Fund, completing a value-driven portfolio of ten companies across the Baltics, Poland and Romania, with one already successfully exited. With the launch of its successor INVL Private Equity Fund II earlier this year, which surpassed the target and reached EUR 305 million at first close, we are well-positioned to continue our investment strategy and supporting ambitious businesses across the Baltics, CEE region and the broader EU.”

With a 187-year tradition, Pehart Group is one of the largest paper manufacturers in Southeast Europe with a portfolio ranging from toilet paper, paper towels, napkins, and other hygiene paper products to jumbo rolls, used in the converting process into paper products for household and industrial use. In 2024, Pehart Group succeeded in strengthening its leading position on the market through production efficiency and strategic investments. The focus on diversifying the product portfolio led to new launches, such as the SOVIO brand, targeting the Away-from-Home sector, as well as expansion into international markets. In 2024, the Pehart Group generated revenues of EUR 165 million and employed more than 550 people across its companies.

Pehart Group is defined by continuous evolution, efficiency, respect for the planet’s resources and for the people who build its story every day. It continuously optimizes its products and services by creating a sustainable and equitable environment for a renewable future. Pufina, one of the most popular tissue paper brands in Romania, Alint, Altessa and SOVIO, the Away-from-Home products division, are part of the Pehart Group portfolio.

About the INVL Baltic Sea Growth Fund

With a fund size of EUR 165 million, the INVL Baltic Sea Growth Fund is the leading private equity fund in the Baltics. Its anchor investor is the European Investment Fund (EIF), which is a part of the European Investment Bank, and committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or the Junker Plan) while also allocating resources from the Baltic Innovation Fund (a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia,  to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics). The fund is managed by the leading asset management group in the Baltics Invalda INVL group, which companies manage or have under supervision over EUR 1.9 billion of assets.

Contact person for further information:
Vytautas Plunksnis, Head of Private Equity at INVL Asset Management,
Vytautas.Plunksnis@invl.com

The MIL Network –

July 14, 2025
MIL-OSI: Eurocastle Announces Posting of 2025 Annual General Meeting Notice

Source: GlobeNewswire (MIL-OSI)

EUROCASTLE INVESTMENT LIMITED


                        FOR IMMEDIATE RELEASE
Contact:
Oak Fund Services (Guernsey) Limited
Company Administrator
Attn: Nicole Barnes
Tel: +44 1481 723450

Eurocastle Announces Posting of 2025 Annual General Meeting Notice

Guernsey, 14 July 2025 – Eurocastle Investment Limited (Euronext Amsterdam: ECT) (“Eurocastle” or the “Company”) today announces that notice of its Annual General Meeting containing the full text of the proposed resolutions and a proxy statement has been mailed out to all holders on record as of Thursday, 10 July 2024. In addition, the Company has posted the Annual General Meeting notice on its website under Periodic Reports and Shareholder Communications in the Investor Relations Section.

As previously announced, Eurocastle will hold its Annual General Meeting on Tuesday, 5 August 2025, at the Company’s registered office at 3:00 pm Guernsey time (4:00 pm CET).

ABOUT EUROCASTLE

Eurocastle Investment Limited (“Eurocastle” or the “Company”) is a publicly traded closed-ended investment company. On 8 July 2022, the Company announced the relaunch of its investment activity and is currently in the early stages of pursuing its new strategy by initially focusing on opportunistic real estate in Greece with a plan to expand across Southern Europe. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.

The MIL Network –

July 14, 2025
MIL-OSI: Eurocastle Announces Posting of 2025 Annual General Meeting Notice

Source: GlobeNewswire (MIL-OSI)

EUROCASTLE INVESTMENT LIMITED


                        FOR IMMEDIATE RELEASE
Contact:
Oak Fund Services (Guernsey) Limited
Company Administrator
Attn: Nicole Barnes
Tel: +44 1481 723450

Eurocastle Announces Posting of 2025 Annual General Meeting Notice

Guernsey, 14 July 2025 – Eurocastle Investment Limited (Euronext Amsterdam: ECT) (“Eurocastle” or the “Company”) today announces that notice of its Annual General Meeting containing the full text of the proposed resolutions and a proxy statement has been mailed out to all holders on record as of Thursday, 10 July 2024. In addition, the Company has posted the Annual General Meeting notice on its website under Periodic Reports and Shareholder Communications in the Investor Relations Section.

As previously announced, Eurocastle will hold its Annual General Meeting on Tuesday, 5 August 2025, at the Company’s registered office at 3:00 pm Guernsey time (4:00 pm CET).

ABOUT EUROCASTLE

Eurocastle Investment Limited (“Eurocastle” or the “Company”) is a publicly traded closed-ended investment company. On 8 July 2022, the Company announced the relaunch of its investment activity and is currently in the early stages of pursuing its new strategy by initially focusing on opportunistic real estate in Greece with a plan to expand across Southern Europe. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.

The MIL Network –

July 14, 2025

MIL-OSI: Falcon Oil & Gas Ltd (“Falcon”) – Another Stellar IP60 Flow Test Result in the Beetaloo and 2025 Drilling Campaign Commences

Source: GlobeNewswire (MIL-OSI)

Falcon Oil & Gas Ltd (“Falcon”)

Another Stellar IP60 Flow Test Result in the Beetaloo

And

2025 Drilling Campaign Commences

14 July 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that Shenandoah S2-2H ST1 (“SS-2H ST1”) achieved an average 60-day initial production (“IP60”) flow rate of 6.8 million cubic feet per day (“MMcf/d”) over 1,671-metres (5,483-foot) across a 35 stage stimulated horizontal within the Amungee Member B-Shale in the Beetaloo Sub-basin, Northern Territory, Australia, making it the highest IP60 result in the Beetaloo to date.

Points to note:

The average flow rate of 12.4 MMcf/d over a normalized 10,000-foot horizontal section remains in-line with an average of more than 11,000 wells in the Marcellus Shale dry gas area on production over a 12-month period. The results demonstrate the commercial deliverability of gas from the Beetaloo Sub-basin to the Australian domestic East Coast gas market that typically sells at a premium to Henry Hub in the United States.
The exit rate maintains a steady, low-declining curve at 6.4 MMcf/d with a flowing wellhead pressure of ~720 psi and has exhibited less decline than that of the Shenandoah South 1H well (“SS-1H”) over the last 30 days of testing.
For further details on the SS-2H ST1 flow test including a table, and charts please refer to Appendix A.

Drilling Campaign Gets Underway

The 2025 drilling campaign has now commenced targeting up to three 10,000-foot horizontal wells to be drilled back-to-back over the next few months. This will complete the drilling phase of the five well Shenandoah South pilot program.
As previously announced, Falcon Oil & Gas Australia Limited (“Falcon Australia”) has no cost exposure to the drilling of these three wells as it opted to reduce its participating interest in the three wells to 0%.

Philip O’Quigley, CEO of Falcon commented:

“The IP60 flow rate results announced today of 6.8 MMcf/d are truly stellar and mark another major data point in the Beetaloo Sub-basin, again demonstrating that it compares to the best shale wells in the United States. These results, coupled with the average 30-day initial production exceeding Falcon’s pre-drill commercial threshold of a normalised flow rate of 3 MMcf/d per 1,000 metres, all point towards the significant resource potential of the Beetaloo.

The commencement of the 2025 three well drilling campaign, which is the largest drilling campaign in the Beetaloo to date, will hopefully provide further evidence of the real commercial potential of the Beetaloo.

We look forward to updating the market as soon as these drilling results become available.”

Ends.

CONTACT DETAILS:

Falcon Oil & Gas Ltd.	+353 1 676 8702
Philip O’Quigley, CEO	+353 87 814 7042
Anne Flynn, CFO	+353 1 676 9162

Cavendish Capital Markets Limited (NOMAD & Broker)
Neil McDonald / Adam Rae	+44 131 220 9771

This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd’s Technical Advisor. Dr. Bada obtained his geology degree at the Eötvös L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG.

About Falcon Oil & Gas Ltd.
Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.

Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.

For further information on Falcon Oil & Gas Ltd. Please visit www.falconoilandgas.com

About Beetaloo Joint Venture (EP 76, 98 and 117)

Company	Interest
Falcon Oil & Gas Australia Limited (Falcon Australia)	22.5%
Tamboran (B2) Pty Limited (“Tamboran”)	77.5%
Total	100.0%

Shenandoah South Pilot Project -2 Drilling Space Units – 46,080 acres¹

Company	Interest
Falcon Oil & Gas Australia Limited (Falcon Australia)	5.0%
Tamboran (B2) Pty Limited	95.0%
Total	100.0%

¹Subject to the completion of SS–4H wells on the Shenandoah South pad 2.

About Tamboran (B2) Pty Limited
Tamboran (B1) Pty Limited (“Tamboran B1”) is the 100% holder of Tamboran (B2) Pty Limited, with Tamboran B1 being a 50:50 joint venture between Tamboran Resources Corporation and Daly Waters Energy, LP.

Tamboran Resources Corporation is a natural gas company listed on the NYSE (TBN) and ASX (TBN). Tamboran is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing the significant low CO₂ gas resource within the Beetaloo Sub-basin through cutting-edge drilling and completion design technology as well as management’s experience in successfully commercialising unconventional shale in North America.

Bryan Sheffield of Daly Waters Energy, LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. (“PE”), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company.

Appendix A – SS-2H ST1 Flow Test Details

Note to reader: Please refer to the PDF attachment included at the end of this press release for further details including a table and charts related to the SS-2H ST1 flow test results.

Advisory regarding forward-looking statements

Certain information in this press release may constitute forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information typically contains statements with words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “dependent”, “consider” “potential”, “scheduled”, “forecast”, “anticipated”, “outlook”, “budget”, “hope”, “suggest”, “support” “planned”, “approximately”, “potential” or the negative of those terms or similar words suggesting future outcomes. In particular, forward-looking information in this press release includes, details on the IP60 flow test results of SS-2H ST1 including assumptions that the results are in line with average of more than 11,000 wells in the Marcellus Shale dry gas area on production over a 12-month period and that they demonstrate the commercial deliverability of gas from the Beetaloo Sub-basin in the Australian Domestic East Coast gas market that typically sells at a premium to Henry Hub in the United States; consistency of the results of SS-2H ST1 with SS-1H; belief the average 30-day initial production of a normalised flow rate of 3 MMcf/d per 1,000 metres is a commercial threshold and coupled with the IP60 flow rate points towards the significant resource potential of the Beetaloo; and details on the 2025 three well drilling campaign which has commenced.

This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. The risks, assumptions and other factors that could influence actual results include risks associated with fluctuations in market prices for shale gas; risks related to the exploration, development and production of shale gas reserves; general economic, market and business conditions; substantial capital requirements; uncertainties inherent in estimating quantities of reserves and resources; extent of, and cost of compliance with, government laws and regulations and the effect of changes in such laws and regulations; the need to obtain regulatory approvals before development commences; environmental risks and hazards and the cost of compliance with environmental regulations; aboriginal claims; inherent risks and hazards with operations such as mechanical or pipe failure, cratering and other dangerous conditions; potential cost overruns, drilling wells is speculative, often involving significant costs that may be more than estimated and may not result in any discoveries; variations in foreign exchange rates; competition for capital, equipment, new leases, pipeline capacity and skilled personnel; the failure of the holder of licenses, leases and permits to meet requirements of such; changes in royalty regimes; failure to accurately estimate abandonment and reclamation costs; inaccurate estimates and assumptions by management and/or their joint venture partners; effectiveness of internal controls; the potential lack of available drilling equipment; failure to obtain or keep key personnel; title deficiencies; geo-political risks; and risk of litigation.

Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at www.sedarplus.com, including under “Risk Factors” in the Annual Information Form.

Any references in this news release to initial production rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter and are not necessarily indicative of long-term performance or ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for Falcon. Such rates are based on field estimates and may be based on limited data available at this time.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Attachment

061425 Final Falcon Press Release – SS-2H ST1 IP60 v2

The MIL Network –

July 14, 2025