Category: Technology

MIL-OSI United Kingdom: Health chiefs issue measles warning to holidaymakers as cases rise globally

Source: City of Leeds

Parents travelling during school holidays are being advised to check children are protected against measles amid a global rise in cases.

With the start of the school holidays, parents and carers in Leeds are being urged to ensure their children have an up-to-date Measles Mumps and Rubella (MMR) vaccine, as measles cases rise nationally and internationally.

The uptake of routine childhood vaccinations has been decreasing over the last ten years, with similar trends observed in West Yorkshire.

Health chiefs are concerned that low MMR vaccination rates could lead to further cases emerging, particularly given the high numbers of people mixing and travelling during the holidays.

Measles is a serious disease which can spread easily among unvaccinated people. Babies, children, pregnant women and people with weakened immune systems are at highest risk.

The disease can lead to hospitalisation and in rare cases, death. Symptoms typically begin with cold-like signs, such as a high temperature, a runny or blocked nose, sneezing, coughing, and red, sore, watery eyes.

A few days later, small white spots may appear inside the cheeks and on the back of the lips. This is followed by a rash that usually starts on the face and behind the ears before spreading to the rest of the body.

Victoria Eaton, Leeds City Council’s director of public health, said: “As we enter the summer holidays, we want everyone to enjoy the season safely and in good health.

“This year outbreaks have been seen in several European countries, including France, Italy, Spain and Germany and the World Health Organisation recently reported that Pakistan, India, Thailand, Indonesia and Nigeria currently have among the highest number of measles cases worldwide.

“These are places where people may be going on holiday or travelling to visit family and friends.

“Checking your family’s MMR vaccination status is a simple but important step in protecting your loved ones and the wider community.

“If you’re unsure whether you or your child are fully vaccinated, please contact your GP to check your records and arrange vaccination, especially if you’re planning to travel over the summer break.”

The MMR vaccine, which is usually given to children around their first birthday and again at 3 years 4 months offers the best protection against measles. Two doses provide long-lasting immunity.

Councillor Fiona Venner, Leeds City Council’s executive member for equalities, health and wellbeing, said:  “We want everyone to enjoy their holidays but checking your child is fully vaccinated against measles before you go will ensure you and your child are protected and safe.

“It’s never too late to get the vaccine, even if you have missed a first, or second dose. A non-porcine version of the MMR vaccine is also available – however, you may need to request this from your GP practice ahead of vaccination.

“If you think you or your child has measles, phone your GP or NHS 111 for advice. To reduce the risk of spreading it to others, please avoid contact with other people. Call ahead first before attending any healthcare settings.”

For more information on measles, and the MMR vaccine, visit the NHS website: https://www.nhs.uk/conditions/measles/. 

Watch a video of Dr Naveed from the UKHSA providing measles travel advice.

ENDS

For media enquiries please contact:

Leeds City Council communications and marketing,

Email: communicationsteam@leeds.gov.uk

Tel: 0113 378 6007

MIL OSI United Kingdom –

July 25, 2025

MIL-OSI: Southside Bancshares, Inc. Announces Financial Results for the Second Quarter Ended June 30, 2025

Source: GlobeNewswire (MIL-OSI)

Second quarter net income of $21.8 million;

Second quarter earnings per diluted common share of $0.72;

Tax-equivalent net interest margin⁽¹⁾linked quarter increased nine basis points to 2.95%;

Annualized return on second quarter average assets of 1.07%;

Annualized return on second quarter average tangible common equity of 14.38%⁽¹⁾; and

Nonperforming assets remain low at 0.39% of total assets.

TYLER, Texas, July 25, 2025 (GLOBE NEWSWIRE) — Southside Bancshares, Inc. (“Southside” or the “Company”) (NYSE: SBSI) today reported its financial results for the quarter ended June 30, 2025. Southside reported net income of $21.8 million for the three months ended June 30, 2025, a decrease of $2.9 million, or 11.6%, compared to $24.7 million for the same period in 2024. Earnings per diluted common share decreased $0.09, or 11.1%, to $0.72 for the three months ended June 30, 2025, from $0.81 for the same period in 2024. The annualized return on average shareholders’ equity for the three months ended June 30, 2025 was 10.73%, compared to 12.46% for the same period in 2024. The annualized return on average assets was 1.07% for the three months ended June 30, 2025, compared to 1.19% for the same period in 2024.

“We reported excellent financial results for the second quarter ended June 30, 2025, which included earnings per share of $0.72, a return on average assets of 1.07%, and a return on average tangible common equity of 14.38%,” stated Lee R. Gibson, Chief Executive Officer of Southside. “Linked quarter, the net interest margin⁽¹⁾ increased nine basis points to 2.95%, net interest income increased $414,000 to $54.3 million, and deposits net of public fund and brokered deposits increased $90.1 million. The linked quarter total loans increased $35 million, while average loans decreased $106 million due primarily to heavy payoffs during the first two months of the quarter. Total loan growth during the month of June was $104 million. Our loan pipeline is solid and we currently anticipate three to four percent loan growth for all of 2025. During the quarter we expensed $1.2 million related to the write-off and demolition of an existing branch that was replaced with a new building.”

Operating Results for the Three Months Ended June 30, 2025

Net income was $21.8 million for the three months ended June 30, 2025, compared to $24.7 million for the same period in 2024, a decrease of $2.9 million, or 11.6%. Earnings per diluted common share were $0.72 for the three months ended June 30, 2025, compared to $0.81 for the same period in 2024, a decrease of 11.1%. The decrease in net income was a result of increases in noninterest expense and provision for credit losses, partially offset by increases in net interest income and noninterest income and a decrease in income tax expense. Annualized returns on average assets and average shareholders’ equity for the three months ended June 30, 2025 were 1.07% and 10.73%, respectively, compared to 1.19% and 12.46%, respectively, for the three months ended June 30, 2024. Our efficiency ratio and tax-equivalent efficiency ratio⁽¹⁾ were 55.67% and 53.70%, respectively, for the three months ended June 30, 2025, compared to 54.90% and 52.71%, respectively, for the three months ended June 30, 2024, and 57.04% and 55.04%, respectively, for the three months ended March 31, 2025.

Net interest income for the three months ended June 30, 2025 was $54.3 million, an increase of $0.7 million, or 1.2%, compared to the same period in 2024. The increase in net interest income was due to decreases in the average rate paid on and average balance of our interest bearing liabilities, partially offset by decreases in the average yield of and average balance of our interest earning assets. Linked quarter, net interest income increased $0.4 million, or 0.8%, compared to $53.9 million for the three months ended March 31, 2025, due to the decrease in the average balance of interest bearing liabilities, the increase in the average yield on our interest earning assets and the decrease in the rate paid on interest bearing liabilities, partially offset by the decrease in the average balance of our interest earning assets.

Our net interest margin and tax-equivalent net interest margin⁽¹⁾ increased to 2.82% and 2.95%, respectively, for the three months ended June 30, 2025, compared to 2.74% and 2.87%, respectively, for the same period in 2024. Linked quarter, net interest margin and tax-equivalent net interest margin⁽¹⁾ increased from 2.74% and 2.86%, respectively, for the three months ended March 31, 2025.

Noninterest income was $12.1 million for the three months ended June 30, 2025, an increase of $0.6 million, or 5.1%, compared to $11.6 million for the same period in 2024. The increase was primarily due to a decrease in net loss on sale of securities available for sale (“AFS”) and increases in other noninterest income and trust fees, partially offset by a decrease in bank owned life insurance income (“BOLI”). On a linked quarter basis, noninterest income increased $1.9 million, or 18.8%, compared to the three months ended March 31, 2025. The increase was primarily due to an increase in other noninterest income, a decrease in net loss on sale of securities AFS, and increases in deposit services income, trust income and brokerage services income. The increase in other noninterest income was primarily due to an increase in swap fee income for the three months ended June 30, 2025.

Noninterest expense increased $3.5 million, or 9.8%, to $39.3 million for the three months ended June 30, 2025, compared to $35.8 million for the same period in 2024, primarily due to increases in other noninterest expense, professional fees and salaries and employee benefits expense. On a linked quarter basis, noninterest expense increased by $2.2 million, or 5.8%, compared to the three months ended March 31, 2025, due to increases in other noninterest expense and net occupancy expense. The increase in other noninterest expense was primarily due to a one-time charge of $1.2 million on the demolition of an old branch facility following completion of the new branch during the three months ended June 30, 2025.

Income tax expense decreased $0.5 million, or 9.5%, for the three months ended June 30, 2025, compared to the same period in 2024. On a linked quarter basis, income tax expense remained the same at $4.7 million. Our effective tax rate (“ETR”) increased slightly to 17.8% for the three months ended June 30, 2025, compared to 17.4% for the three months ended June 30, 2024, and decreased slightly from 18.0% for the three months ended March 31, 2025. The higher ETR for the three months ended June 30, 2025 compared to the same period in 2024, was primarily due to an increase in state income tax expense.

Operating Results for the Six Months Ended June 30, 2025

Net income was $43.3 million for the six months ended June 30, 2025, compared to $46.2 million for the same period in 2024, a decrease of $2.9 million, or 6.2%. Earnings per diluted common share were $1.42 for the six months ended June 30, 2025, compared to $1.52 for the same period in 2024, a decrease of 6.6%. The decrease in net income was a result of increases in noninterest expense and provision for credit losses, partially offset by increases in net interest income and noninterest income and a decrease in income tax expense. Returns on average assets and average shareholders’ equity for the six months ended June 30, 2025 were 1.05% and 10.65%, respectively, compared to 1.11% and 11.74%, respectively, for the six months ended June 30, 2024. Our efficiency ratio and tax-equivalent efficiency ratio⁽¹⁾ were 56.34% and 54.36%, respectively, for the six months ended June 30, 2025, compared to 56.41% and 54.11%, respectively, for the six months ended June 30, 2024.

Net interest income was $108.1 million for the six months ended June 30, 2025, compared to $107.0 million for the same period in 2024, an increase of $1.2 million, or 1.1%, due to decreases in the average rate paid on and average balance of our interest bearing liabilities, partially offset by the decrease in the average yield of interest earning assets.

Our net interest margin and tax-equivalent net interest margin⁽¹⁾ were 2.78% and 2.91%, respectively, for the six months ended June 30, 2025, compared to 2.73% and 2.87%, respectively, for the same period in 2024.

Noninterest income was $22.4 million for the six months ended June 30, 2025, an increase of $1.1 million, or 5.1%, compared to $21.3 million for the same period in 2024. The increase was primarily due to increases in trust fees, other noninterest income and gain on sale of loans, partially offset by a decrease in BOLI income.

Noninterest expense was $76.3 million for the six months ended June 30, 2025, compared to $72.6 million for the same period in 2024, an increase of $3.7 million, or 5.1%. The increase was primarily due to increases in other noninterest expense and professional fees, partially offset by a decrease in salaries and employee benefits expense.

Income tax expense decreased $0.4 million, or 4.0%, for the six months ended June 30, 2025, compared to the same period in 2024. Our ETR was approximately 17.9% and 17.6% for the six months ended June 30, 2025 and 2024, respectively. The higher ETR for the six months ended June 30, 2025, as compared to the same period in 2024, was primarily due to an increase in state income tax expense.

Balance Sheet Data

At June 30, 2025, Southside had $8.34 billion in total assets, compared to $8.52 billion at December 31, 2024 and $8.36 billion at June 30, 2024.

Loans at June 30, 2025 were $4.60 billion, an increase of $12.6 million, or 0.3%, compared to $4.59 billion at June 30, 2024. Linked quarter, loans increased $34.7 million, or 0.8%, due to increases of $28.8 million in commercial real estate loans, $12.3 million in construction loans and $9.0 million in commercial loans. These increases were partially offset by decreases of $7.5 million in municipal loans, $5.3 million in 1-4 family residential loans and $2.5 million in loans to individuals.

Securities at June 30, 2025 were $2.73 billion, an increase of $18.1 million, or 0.7%, compared to $2.71 billion at June 30, 2024. Linked quarter, securities decreased $6.2 million, or 0.2%, from $2.74 billion at March 31, 2025.

Deposits at June 30, 2025 were $6.63 billion, an increase of $136.0 million, or 2.1%, compared to $6.50 billion at June 30, 2024. Linked quarter, deposits increased $41.1 million, or 0.6%, from $6.59 billion at March 31, 2025.

At June 30, 2025, we had 178,970 total deposit accounts with an average balance of $34,000. Our estimated uninsured deposits were 38.5% of total deposits as of June 30, 2025. When excluding affiliate deposits (Southside-owned deposits) and public fund deposits (all collateralized), our total estimated deposits without insurance or collateral was 21.1% as of June 30, 2025. Our noninterest bearing deposits represent approximately 20.6% of total deposits. Linked quarter, our cost of interest bearing deposits decreased one basis point from 2.83% in the prior quarter to 2.82%. Linked quarter, our cost of total deposits remained at 2.26%.

Our cost of interest bearing deposits decreased 16 basis points, from 2.99% for the six months ended June 30, 2024, to 2.83% for the six months ended June 30, 2025. Our cost of total deposits decreased 11 basis points, from 2.37% for the six months ended June 30, 2024, to 2.26% for the six months ended June 30, 2025.

Capital Resources and Liquidity

Our capital ratios and contingent liquidity sources remain solid. During the second quarter ended June 30, 2025, we purchased 424,435 shares of the Company’s common stock at an average price of $28.13 per share, pursuant to our Stock Repurchase Plan. Under this plan, repurchases of our outstanding common stock may be carried out in open market purchases, privately negotiated transactions or pursuant to any trading plan that might be adopted in accordance with Rule 10b5-1 of The Securities Exchange Act of 1934, as amended. The Company has no obligation to repurchase any shares under the Stock Repurchase Plan and may modify, suspend or discontinue the plan at any time. Subsequent to June 30, 2025, and through July 23, 2025, we purchased 2,443 shares of common stock at an average price of $30.29 pursuant to the Stock Repurchase Plan.

As of June 30, 2025, our total available contingent liquidity, net of current outstanding borrowings, was $2.33 billion, consisting of FHLB advances, Federal Reserve Discount Window and correspondent bank lines of credit.

Asset Quality

Nonperforming assets at June 30, 2025 were $32.9 million, or 0.39% of total assets, an increase of $26.0 million, or 375.7%, compared to $6.9 million, or 0.08% of total assets, at June 30, 2024, due primarily to an increase of $27.4 million in restructured loans. The increase in restructured loans was due to the extension of maturity in the first quarter of 2025 on a $27.5 million commercial real estate loan to allow for an extended lease up period. Linked quarter, nonperforming assets increased $0.7 million, or 2.2%, from $32.2 million at March 31, 2025.

The allowance for loan losses totaled $44.4 million, or 0.97% of total loans, at June 30, 2025, compared to $44.6 million, or 0.98% of total loans, at March 31, 2025. The allowance for loan losses was $42.4 million, or 0.92% of total loans, at June 30, 2024. The increase in allowance as a percentage of total loans compared to June 30, 2024 was primarily due to an increase in economic uncertainty forecasted in the CECL model.

For the three months ended June 30, 2025, we recorded a provision for credit losses for loans of $0.7 million, compared to a reversal of provision of $0.9 million and a provision of $42,000 for the three months ended June 30, 2024 and March 31, 2025, respectively. Net charge-offs were $0.9 million for the three months ended June 30, 2025, compared to net charge-offs of $0.3 million for the three months ended June 30, 2024 and March 31, 2025. Net charge-offs were $1.2 million for the six months ended June 30, 2025, compared to net charge-offs of $0.6 million for the six months ended June 30, 2024.

We recorded a reversal of provision for credit losses on off-balance-sheet credit exposures of $19,000 for the three months ended June 30, 2025, compared to provision for losses on off-balance-sheet credit exposures of $0.4 million and $0.7 million for the three months ended June 30, 2024 and March 31, 2025, respectively. We recorded a provision for losses on off-balance-sheet credit exposures of $0.6 million for the six months ended June 30, 2025, compared to a reversal of provision for credit losses on off-balance-sheet credit exposures of $0.7 million for the six months ended June 30, 2024. The balance of the allowance for off-balance-sheet credit exposures was $3.8 million and $3.2 million at June 30, 2025 and 2024, respectively, and is included in other liabilities.

Dividend

Southside Bancshares, Inc. declared a second quarter cash dividend of $0.36 per share on May 8, 2025, which was paid on June 5, 2025, to all shareholders of record as of May 22, 2025.

_______________

(1)	Refer to “Non-GAAP Financial Measures” below and to “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for more information and for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.

Conference Call

Southside’s management team will host a conference call to discuss its second quarter ended June 30, 2025 financial results on Friday, July 25, 2025 at 11:00 a.m. CDT. The conference call can be accessed by webcast, for listen-only mode, on the company website, https://investors.southside.com, under Events.

Those interested in participating in the question and answer session, or others who prefer to call-in, can register at https://register-conf.media-server.com/register/BIad8374913fda48e3a6a27e230e7c4225 to receive the dial-in number and unique code to access the conference call seamlessly. While not required, it is recommended that those wishing to participate, register 10 minutes prior to the conference call to ensure a more efficient registration process.

For those unable to attend the live event, a webcast recording will be available on the company website, https://investors.southside.com, for at least 30 days, beginning approximately two hours following the conference call.

Non-GAAP Financial Measures

Our accounting and reporting policies conform to generally accepted accounting principles (“GAAP”) in the United States and prevailing practices in the banking industry. However, certain non-GAAP measures are used by management to supplement the evaluation of our performance. These include the following fully taxable-equivalent measures (“FTE”): (i) Net interest income (FTE), (ii) net interest margin (FTE), (iii) net interest spread (FTE), and (iv) efficiency ratio (FTE), which include the effects of taxable-equivalent adjustments using a federal income tax rate of 21% to increase tax-exempt interest income to a tax-equivalent basis. Interest income earned on certain assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable investments.

Net interest income (FTE), net interest margin (FTE) and net interest spread (FTE). Net interest income (FTE) is a non-GAAP measure that adjusts for the tax-favored status of net interest income from certain loans and investments and is not permitted under GAAP in the consolidated statements of income. We believe that this measure is the preferred industry measurement of net interest income and that it enhances comparability of net interest income arising from taxable and tax-exempt sources. The most directly comparable financial measure calculated in accordance with GAAP is our net interest income. Net interest margin (FTE) is the ratio of net interest income (FTE) to average earning assets. The most directly comparable financial measure calculated in accordance with GAAP is our net interest margin. Net interest spread (FTE) is the difference in the average yield on average earning assets on a tax-equivalent basis and the average rate paid on average interest bearing liabilities. The most directly comparable financial measure calculated in accordance with GAAP is our net interest spread.

Efficiency ratio (FTE). The efficiency ratio (FTE) is a non-GAAP measure that provides a measure of productivity in the banking industry. This ratio is calculated to measure the cost of generating one dollar of revenue. The ratio is designed to reflect the percentage of one dollar which must be expended to generate that dollar of revenue. We calculate this ratio by dividing noninterest expense, excluding amortization expense on intangibles and certain nonrecurring expense by the sum of net interest income (FTE) and noninterest income, excluding net gain (loss) on sale of securities available for sale and certain nonrecurring impairments. The most directly comparable financial measure calculated in accordance with GAAP is our efficiency ratio.

These non-GAAP financial measures should not be considered alternatives to GAAP-basis financial statements and other bank holding companies may define or calculate these non-GAAP measures or similar measures differently. Whenever we present a non-GAAP financial measure in an SEC filing, we are also required to present the most directly comparable financial measure calculated and presented in accordance with GAAP and reconcile the differences between the non-GAAP financial measure and such comparable GAAP measure.

Management believes adjusting net interest income, net interest margin and net interest spread to a fully taxable-equivalent basis is a standard practice in the banking industry as these measures provide useful information to make peer comparisons. Tax-equivalent adjustments are reflected in the respective earning asset categories as listed in the “Average Balances with Average Yields and Rates” tables.

A reconciliation of our non-GAAP financial measures to the comparable GAAP financial measures is included at the end of the financial statement tables.

About Southside Bancshares, Inc.

Southside Bancshares, Inc. is a bank holding company with approximately $8.34 billion in assets as of June 30, 2025, that owns 100% of Southside Bank. Southside Bank currently has 53 branches in Texas and operates a network of 71 ATMs/ITMs.

To learn more about Southside Bancshares, Inc., please visit our investor relations website at https://investors.southside.com. Our investor relations site provides a detailed overview of our activities, financial information and historical stock price data. To receive email notification of company news, events and stock activity, please register on the website under Resources and Investor Email Alerts. Questions or comments may be directed to Lindsey Bailes at (903) 630-7965, or lindsey.bailes@southside.com.

Forward-Looking Statements

Certain statements of other than historical fact that are contained in this press release and in other written materials, documents and oral statements issued by or on behalf of the Company may be considered to be “forward-looking statements” within the meaning of and subject to the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. These statements may include words such as “expect,” “estimate,” “project,” “anticipate,” “appear,” “believe,” “could,” “should,” “may,” “might,” “will,” “would,” “seek,” “intend,” “probability,” “risk,” “goal,” “target,” “objective,” “plans,” “potential,” and similar expressions. Forward-looking statements are statements with respect to the Company’s beliefs, plans, expectations, objectives, goals, anticipations, assumptions, estimates, intentions and future performance and are subject to significant known and unknown risks and uncertainties, which could cause the Company’s actual results to differ materially from the results discussed in the forward-looking statements. For example, benefits of the Share Repurchase Plan, trends in asset quality, capital, liquidity, the Company’s ability to sell nonperforming assets, expense reductions, planned operational efficiencies and earnings from growth and certain market risk disclosures, including the impact of interest rates and our expectations regarding rate changes, tax reform, inflation, tariffs, the impacts related to or resulting from other economic factors are based upon information presently available to management and are dependent on choices about key model characteristics and assumptions and are subject to various limitations. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what actually occurs in the future. Accordingly, our results could materially differ from those that have been estimated. The most significant factor that could cause future results to differ materially from those anticipated by our forward-looking statements include the ongoing impact of higher inflation levels, interest rate fluctuations, including the impact of changes in interest rates on our financial projections, models and guidance, and general economic and recessionary concerns, as well as the effects of declines in the real estate market, tariffs or trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), high unemployment and increasing insurance costs, as well as the financial stress to borrowers as a result of the foregoing, all of which could impact economic growth and could cause a reduction in financial transactions and business activities, including decreased deposits and reduced loan originations, and our ability to manage liquidity in a rapidly changing and unpredictable market.

Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, under “Part I – Item 1. Forward Looking Information” and “Part I – Item 1A. Risk Factors” and in the Company’s other filings with the Securities and Exchange Commission. The Company disclaims any obligation to update any factors or to announce publicly the result of revisions to any of the forward-looking statements included herein to reflect future events or developments.

Southside Bancshares, Inc. Consolidated Financial Summary (Unaudited) (Dollars in thousands)

	As of
		2025						2024
	Jun 30,			Mar 31,			Dec 31,			Sep 30,			Jun 30,
ASSETS
Cash and due from banks	$	109,669		$	103,359		$	91,409		$	130,147		$	114,283
Interest earning deposits		260,357			293,364			281,945			333,825			272,469
Federal funds sold		20,069			34,248			52,807			22,325			65,244
Securities available for sale, at estimated fair value		1,457,124			1,457,939			1,533,894			1,408,437			1,405,944
Securities held to maturity, at net carrying value		1,272,906			1,278,330			1,279,234			1,288,403			1,305,975
Total securities		2,730,030			2,736,269			2,813,128			2,696,840			2,711,919
Federal Home Loan Bank stock, at cost		24,384			34,208			33,818			40,291			32,991
Loans held for sale		428			903			1,946			768			1,352
Loans		4,601,933			4,567,239			4,661,597			4,578,048			4,589,365
Less: Allowance for loan losses		(44,421	)		(44,623	)		(44,884	)		(44,276	)		(42,407	)
Net loans		4,557,512			4,522,616			4,616,713			4,533,772			4,546,958
Premises & equipment, net		147,263			142,245			141,648			138,811			138,489
Goodwill		201,116			201,116			201,116			201,116			201,116
Other intangible assets, net		1,333			1,531			1,754			2,003			2,281
Bank owned life insurance		138,826			137,962			138,313			137,489			136,903
Other assets		148,979			135,479			142,851			124,876			133,697
Total assets	$	8,339,966		$	8,343,300		$	8,517,448		$	8,362,263		$	8,357,702

LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest bearing deposits	$	1,368,453		$	1,379,641		$	1,357,152		$	1,377,022		$	1,366,924
Interest bearing deposits		5,263,511			5,211,210			5,297,096			5,058,680			5,129,008
Total deposits		6,631,964			6,590,851			6,654,248			6,435,702			6,495,932
Other borrowings and Federal Home Loan Bank borrowings		611,367			691,417			808,352			865,856			763,700
Subordinated notes, net of unamortized debt issuance costs		92,115			92,078			92,042			92,006			91,970
Trust preferred subordinated debentures, net of unamortized debt issuance costs		60,277			60,276			60,274			60,273			60,272
Other liabilities		137,043			92,055			90,590			103,172			144,858
Total liabilities		7,532,766			7,526,677			7,705,506			7,557,009			7,556,732
Shareholders’ equity		807,200			816,623			811,942			805,254			800,970
Total liabilities and shareholders’ equity	$	8,339,966		$	8,343,300		$	8,517,448		$	8,362,263		$	8,357,702

Southside Bancshares, Inc. Consolidated Financial Summary (Unaudited) (Dollars in thousands)

	Three Months Ended
		2025						2024
	Jun 30,			Mar 31,			Dec 31,			Sep 30,			Jun 30,
Income Statement:
Total interest and dividend income	$	98,562		$	100,288		$	101,689		$	105,703		$	104,186
Total interest expense		44,296			46,436			47,982			50,239			50,578
Net interest income		54,266			53,852			53,707			55,464			53,608
Provision for (reversal of) credit losses		622			758			1,384			2,389			(485	)
Net interest income after provision for (reversal of) credit losses		53,644			53,094			52,323			53,075			54,093
Noninterest income
Deposit services		6,125			5,829			6,084			6,199			6,157
Net gain (loss) on sale of securities available for sale		—			(554	)		—			(1,929	)		(563	)
Gain (loss) on sale of loans		99			55			138			115			220
Trust fees		1,879			1,765			1,773			1,628			1,456
Bank owned life insurance		833			799			848			857			1,767
Brokerage services		1,219			1,120			1,054			1,068			1,081
Other		1,990			1,209			2,384			233			1,439
Total noninterest income		12,145			10,223			12,281			8,171			11,557
Noninterest expense
Salaries and employee benefits		22,272			22,382			22,960			22,233			21,984
Net occupancy		3,621			3,404			3,629			3,613			3,750
Advertising, travel & entertainment		950			924			884			734			795
ATM expense		405			378			378			412			368
Professional fees		1,401			1,520			1,645			1,206			1,075
Software and data processing		3,027			2,839			2,931			2,951			2,860
Communications		342			383			320			423			410
FDIC insurance		955			947			931			939			977
Amortization of intangibles		198			223			249			278			307
Other		6,086			4,089			4,232			3,543			3,239
Total noninterest expense		39,257			37,089			38,159			36,332			35,765
Income before income tax expense		26,532			26,228			26,445			24,914			29,885
Income tax expense		4,719			4,721			4,659			4,390			5,212
Net income	$	21,813		$	21,507		$	21,786		$	20,524		$	24,673

Common Share Data:
Weighted-average basic shares outstanding		30,234			30,390			30,343			30,286			30,280
Weighted-average diluted shares outstanding		30,308			30,483			30,459			30,370			30,312
Common shares outstanding end of period		30,082			30,410			30,379			30,308			30,261
Earnings per common share
Basic	$	0.72		$	0.71		$	0.72		$	0.68		$	0.81
Diluted		0.72			0.71			0.71			0.68			0.81
Book value per common share		26.83			26.85			26.73			26.57			26.47
Tangible book value per common share		20.10			20.19			20.05			19.87			19.75
Cash dividends paid per common share		0.36			0.36			0.36			0.36			0.36

Selected Performance Ratios:
Return on average assets		1.07	%		1.03	%		1.03	%		0.98	%		1.19	%
Return on average shareholders’ equity		10.73			10.57			10.54			10.13			12.46
Return on average tangible common equity ⁽¹⁾		14.38			14.14			14.12			13.69			16.90
Average yield on earning assets (FTE) ⁽¹⁾		5.25			5.23			5.24			5.51			5.45
Average rate on interest bearing liabilities		2.98			3.03			3.12			3.28			3.32
Net interest margin (FTE) ⁽¹⁾		2.95			2.86			2.83			2.95			2.87
Net interest spread (FTE) ⁽¹⁾		2.27			2.20			2.12			2.23			2.13
Average earning assets to average interest bearing liabilities		129.33			128.10			129.55			128.51			128.62
Noninterest expense to average total assets		1.92			1.78			1.80			1.73			1.72
Efficiency ratio (FTE) ⁽¹⁾		53.70			55.04			54.00			51.90			52.71

(1)	Refer to “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.

Southside Bancshares, Inc. Consolidated Financial Highlights (Unaudited) (Dollars in thousands)

	Three Months Ended
		2025						2024
	Jun 30,			Mar 31,			Dec 31,			Sep 30,			Jun 30,
Nonperforming Assets:	$	32,909		$	32,193		$	3,589		$	7,656		$	6,918
Nonaccrual loans		4,998			4,254			3,185			7,254			6,110
Accruing loans past due more than 90 days		—			—			—			—			—
Restructured loans		27,512			27,505			2			—			145
Other real estate owned		380			388			388			388			648
Repossessed assets		19			46			14			14			15

Asset Quality Ratios:
Ratio of nonaccruing loans to:
Total loans		0.11	%		0.09	%		0.07	%		0.16	%		0.13	%
Ratio of nonperforming assets to:
Total assets		0.39			0.39			0.04			0.09			0.08
Total loans		0.72			0.70			0.08			0.17			0.15
Total loans and OREO		0.72			0.70			0.08			0.17			0.15
Ratio of allowance for loan losses to:
Nonaccruing loans		888.78			1,048.97			1,409.23			610.37			694.06
Nonperforming assets		134.98			138.61			1,250.60			578.32			613.00
Total loans		0.97			0.98			0.96			0.97			0.92
Net charge-offs (recoveries) to average loans outstanding		0.08			0.03			0.08			0.04			0.02

Capital Ratios:
Shareholders’ equity to total assets		9.68			9.79			9.53			9.63			9.58
Common equity tier 1 capital		13.36			13.44			13.04			13.07			12.72
Tier 1 risk-based capital		14.41			14.49			14.07			14.12			13.76
Total risk-based capital		16.91			17.01			16.49			16.59			16.16
Tier 1 leverage capital		10.03			9.73			9.67			9.61			9.40
Period end tangible equity to period end tangible assets ⁽¹⁾		7.43			7.54			7.33			7.38			7.33
Average shareholders’ equity to average total assets		9.94			9.75			9.76			9.67			9.52

(1)	Refer to the “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.

Southside Bancshares, Inc. Consolidated Financial Highlights (Unaudited) (Dollars in thousands)

	Three Months Ended
		2025						2024
Loan Portfolio Composition	Jun 30,			Mar 31,			Dec 31,			Sep 30,			Jun 30,
Real Estate Loans:
Construction	$	470,380		$	458,101		$	537,827		$	585,817		$	546,040
1-4 Family Residential		736,108			741,432			740,396			755,406			738,037
Commercial		2,606,072			2,577,229			2,579,735			2,422,612			2,472,771
Commercial Loans		380,612			371,643			363,167			358,854			359,807
Municipal Loans		363,746			371,271			390,968			402,041			416,986
Loans to Individuals		45,015			47,563			49,504			53,318			55,724
Total Loans	$	4,601,933		$	4,567,239		$	4,661,597		$	4,578,048		$	4,589,365

Summary of Changes in Allowances:
Allowance for Securities Held to Maturity
Balance at beginning of period	$	64		$	—		$	—		$	—		$	—
Provision for (reversal of) securities held to maturity		(9	)		64			—			—			—
Balance at end of period	$	55		$	64		$	—		$	—		$	—

Allowance for Loan Losses
Balance at beginning of period	$	44,623		$	44,884		$	44,276		$	42,407		$	43,557
Loans charged-off		(1,194	)		(613	)		(1,232	)		(773	)		(721	)
Recoveries of loans charged-off		342			310			277			365			444
Net loans (charged-off) recovered		(852	)		(303	)		(955	)		(408	)		(277	)
Provision for (reversal of) loan losses		650			42			1,563			2,277			(873	)
Balance at end of period	$	44,421		$	44,623		$	44,884		$	44,276		$	42,407

Allowance for Off-Balance-Sheet Credit Exposures
Balance at beginning of period	$	3,793		$	3,141		$	3,320		$	3,208		$	2,820
Provision for (reversal of) off-balance-sheet credit exposures		(19	)		652			(179	)		112			388
Balance at end of period	$	3,774		$	3,793		$	3,141		$	3,320		$	3,208
Total Allowance for Credit Losses	$	48,250		$	48,480		$	48,025		$	47,596		$	45,615

Southside Bancshares, Inc. Consolidated Financial Highlights (Unaudited) (Dollars in thousands)

	Six Months Ended
	June 30,
		2025			2024
Income Statement:
Total interest and dividend income	$	198,850		$	206,944
Total interest expense		90,732			99,988
Net interest income		108,118			106,956
Provision for (reversal of) credit losses		1,380			(427	)
Net interest income after provision for (reversal of) credit losses		106,738			107,383
Noninterest income
Deposit services		11,954			12,142
Net gain (loss) on sale of securities available for sale		(554	)		(581	)
Gain (loss) on sale of loans		154			(216	)
Trust fees		3,644			2,792
Bank owned life insurance		1,632			2,551
Brokerage services		2,339			2,095
Other		3,199			2,498
Total noninterest income		22,368			21,281
Noninterest expense
Salaries and employee benefits		44,654			45,097
Net occupancy		7,025			7,112
Advertising, travel & entertainment		1,874			1,745
ATM expense		783			693
Professional fees		2,921			2,229
Software and data processing		5,866			5,716
Communications		725			859
FDIC insurance		1,902			1,920
Amortization of intangibles		421			644
Other		10,175			6,631
Total noninterest expense		76,346			72,646
Income before income tax expense		52,760			56,018
Income tax expense		9,440			9,834
Net income	$	43,320		$	46,184
Common Share Data:
Weighted-average basic shares outstanding		30,311			30,271
Weighted-average diluted shares outstanding		30,397			30,310
Common shares outstanding end of period		30,082			30,261
Earnings per common share
Basic	$	1.43		$	1.52
Diluted		1.42			1.52
Book value per common share		26.83			26.47
Tangible book value per common share		20.10			19.75
Cash dividends paid per common share		0.72			0.72

Selected Performance Ratios:
Return on average assets		1.05	%		1.11	%
Return on average shareholders’ equity		10.65			11.74
Return on average tangible common equity ⁽¹⁾		14.26			15.99
Average yield on earning assets (FTE) ⁽¹⁾		5.24			5.42
Average rate on interest bearing liabilities		3.01			3.27
Net interest margin (FTE) ⁽¹⁾		2.91			2.87
Net interest spread (FTE) ⁽¹⁾		2.23			2.15
Average earning assets to average interest bearing liabilities		128.71			128.16
Noninterest expense to average total assets		1.85			1.74
Efficiency ratio (FTE) ⁽¹⁾		54.36			54.11

(1)	Refer to “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.

Southside Bancshares, Inc. Consolidated Financial Highlights (Unaudited) (Dollars in thousands)

	Six Months Ended
	June 30,
		2025			2024
Nonperforming Assets:	$	32,909		$	6,918
Nonaccrual loans		4,998			6,110
Accruing loans past due more than 90 days		—			—
Restructured loans		27,512			145
Other real estate owned		380			648
Repossessed assets		19			15

Asset Quality Ratios:
Ratio of nonaccruing loans to:
Total loans		0.11	%		0.13	%
Ratio of nonperforming assets to:
Total assets		0.39			0.08
Total loans		0.72			0.15
Total loans and OREO		0.72			0.15
Ratio of allowance for loan losses to:
Nonaccruing loans		888.78			694.06
Nonperforming assets		134.98			613.00
Total loans		0.97			0.92
Net charge-offs (recoveries) to average loans outstanding		0.05			0.02

Capital Ratios:
Shareholders’ equity to total assets		9.68			9.58
Common equity tier 1 capital		13.36			12.72
Tier 1 risk-based capital		14.41			13.76
Total risk-based capital		16.91			16.16
Tier 1 leverage capital		10.03			9.40
Period end tangible equity to period end tangible assets ⁽¹⁾		7.43			7.33
Average shareholders’ equity to average total assets		9.84			9.43

(1)	Refer to the “Non-GAAP Reconciliation” at the end of the financial statement tables in this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.

Southside Bancshares, Inc. Consolidated Financial Highlights (Unaudited) (Dollars in thousands)

	Six Months Ended
	June 30,
Loan Portfolio Composition		2025			2024
Real Estate Loans:
Construction	$	470,380		$	546,040
1-4 Family Residential		736,108			738,037
Commercial		2,606,072			2,472,771
Commercial Loans		380,612			359,807
Municipal Loans		363,746			416,986
Loans to Individuals		45,015			55,724
Total Loans	$	4,601,933		$	4,589,365

Summary of Changes in Allowances:
Allowance for Securities Held to Maturity
Balance at beginning of period	$	—		$	—
Provision for (reversal of) securities held to maturity		55			—
Balance at end of period	$	55		$	—

Summary of Changes in Allowances:
Allowance for Loan Losses
Balance at beginning of period	$	44,884		$	42,674
Loans charged-off		(1,807	)		(1,355	)
Recoveries of loans charged-off		652			791
Net loans (charged-off) recovered		(1,155	)		(564	)
Provision for (reversal of) loan losses		692			297
Balance at end of period	$	44,421		$	42,407

Allowance for Off-Balance-Sheet Credit Exposures
Balance at beginning of period	$	3,141		$	3,932
Provision for (reversal of) off-balance-sheet credit exposures		633			(724	)
Balance at end of period	$	3,774		$	3,208
Total Allowance for Credit Losses	$	48,250		$	45,615

The tables that follow show average earning assets and interest bearing liabilities together with the average yield on the earning assets and the average rate of the interest bearing liabilities for the periods presented. The interest and related yields presented are on a fully taxable-equivalent basis and are therefore non-GAAP measures. See “Non-GAAP Financial Measures” and “Non-GAAP Reconciliation” for more information.

Southside Bancshares, Inc. Average Balances and Average Yields and Rates (Annualized) (Unaudited) (Dollars in thousands)

	Three Months Ended
	June 30, 2025							March 31, 2025
	Average Balance			Interest		Average Yield/Rate ⁽³⁾		Average Balance			Interest		Average Yield/Rate ⁽³⁾
ASSETS
Loans ⁽¹⁾	$	4,519,668		$	67,798	6.02	%	$	4,625,902		$	68,160	5.98	%
Loans held for sale		1,108			16	5.79	%		752			11	5.93	%
Securities:
Taxable investment securities ⁽²⁾		735,669			6,205	3.38	%		749,155			6,363	3.44	%
Tax-exempt investment securities ⁽²⁾		1,130,903			10,351	3.67	%		1,134,590			10,253	3.66	%
Mortgage-backed and related securities ⁽²⁾		1,003,887			13,040	5.21	%		1,041,038			13,523	5.27	%
Total securities		2,870,459			29,596	4.14	%		2,924,783			30,139	4.18	%
Federal Home Loan Bank stock, at cost, and equity investments		31,169			524	6.74	%		43,285			483	4.53	%
Interest earning deposits		259,617			2,753	4.25	%		319,889			3,370	4.27	%
Federal funds sold		27,778			308	4.45	%		43,813			478	4.42	%
Total earning assets		7,709,799			100,995	5.25	%		7,958,424			102,641	5.23	%
Cash and due from banks		84,419							89,703
Accrued interest and other assets		452,573							457,948
Less: Allowance for loan losses		(44,747	)						(45,105	)
Total assets	$	8,202,044						$	8,460,970
LIABILITIES AND SHAREHOLDERS’ EQUITY
Savings accounts	$	596,125			1,451	0.98	%	$	593,953			1,429	0.98	%
Certificates of deposit		1,407,017			14,905	4.25	%		1,336,815			14,406	4.37	%
Interest bearing demand accounts		3,311,330			21,071	2.55	%		3,406,342			21,412	2.55	%
Total interest bearing deposits		5,314,472			37,427	2.82	%		5,337,110			37,247	2.83	%
Federal Home Loan Bank borrowings		394,119			3,721	3.79	%		614,897			5,837	3.85	%
Subordinated notes, net of unamortized debt issuance costs		92,097			935	4.07	%		92,060			932	4.11	%
Trust preferred subordinated debentures, net of unamortized debt issuance costs		60,276			1,015	6.75	%		60,275			1,014	6.82	%
Repurchase agreements		72,295			634	3.52	%		75,291			666	3.59	%
Other borrowings		28,022			564	8.07	%		33,061			740	9.08	%
Total interest bearing liabilities		5,961,281			44,296	2.98	%		6,212,694			46,436	3.03	%
Noninterest bearing deposits		1,339,463							1,334,933
Accrued expenses and other liabilities		85,827							88,450
Total liabilities		7,386,571							7,636,077
Shareholders’ equity		815,473							824,893
Total liabilities and shareholders’ equity	$	8,202,044						$	8,460,970
Net interest income (FTE)				$	56,699						$	56,205
Net interest margin (FTE)						2.95	%						2.86	%
Net interest spread (FTE)						2.27	%						2.20	%

(1)	Interest on loans includes net fees on loans that are not material in amount.
(2)	For the purpose of calculating the average yield, the average balance of securities do not include unrealized gains and losses on AFS securities.
(3)	Yield/rate includes the impact of applicable derivatives.

Note: As of June 30, 2025 and March 31, 2025, loans totaling $5.0 million and $4.3 million, respectively, were on nonaccrual status. Our policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate.

Southside Bancshares, Inc. Average Balances and Average Yields and Rates (Annualized) (Unaudited) (Dollars in thousands)

	Three Months Ended
	December 31, 2024							September 30, 2024
	Average Balance			Interest		Average Yield/Rate ⁽³⁾		Average Balance			Interest		Average Yield/Rate ⁽³⁾
ASSETS
Loans ⁽¹⁾	$	4,604,175		$	70,155	6.06	%	$	4,613,028		$	72,493	6.25	%
Loans held for sale		1,562			23	5.86	%		871			11	5.02	%
Securities:
Taxable investment securities ⁽²⁾		784,321			6,949	3.52	%		791,914			7,150	3.59	%
Tax-exempt investment securities ⁽²⁾		1,138,271			10,793	3.77	%		1,174,445			11,825	4.01	%
Mortgage-backed and related securities ⁽²⁾		1,031,187			12,043	4.65	%		886,325			11,976	5.38	%
Total securities		2,953,779			29,785	4.01	%		2,852,684			30,951	4.32	%
Federal Home Loan Bank stock, at cost, and equity investments		37,078			591	6.34	%		41,159			582	5.63	%
Interest earning deposits		273,656			3,160	4.59	%		281,313			3,798	5.37	%
Federal funds sold		43,121			508	4.69	%		33,971			488	5.71	%
Total earning assets		7,913,371			104,222	5.24	%		7,823,026			108,323	5.51	%
Cash and due from banks		102,914							100,578
Accrued interest and other assets		454,387							455,091
Less: Allowance for loan losses		(44,418	)						(42,581	)
Total assets	$	8,426,254						$	8,336,114
LIABILITIES AND SHAREHOLDERS’ EQUITY
Savings accounts	$	594,196			1,456	0.97	%	$	598,116			1,490	0.99	%
Certificates of deposit		1,187,800			13,537	4.53	%		1,087,613			12,647	4.63	%
Interest bearing demand accounts		3,459,122			23,468	2.70	%		3,409,911			24,395	2.85	%
Total interest bearing deposits		5,241,118			38,461	2.92	%		5,095,640			38,532	3.01	%
Federal Home Loan Bank borrowings		572,993			5,557	3.86	%		618,708			6,488	4.17	%
Subordinated notes, net of unamortized debt issuance costs		92,024			945	4.09	%		91,988			937	4.05	%
Trust preferred subordinated debentures, net of unamortized debt issuance costs		60,274			1,095	7.23	%		60,273			1,180	7.79	%
Repurchase agreements		80,891			782	3.85	%		83,297			899	4.29	%
Other borrowings		61,196			1,142	7.42	%		137,482			2,203	6.37	%
Total interest bearing liabilities		6,108,496			47,982	3.12	%		6,087,388			50,239	3.28	%
Noninterest bearing deposits		1,383,204							1,344,165
Accrued expenses and other liabilities		112,320							98,331
Total liabilities		7,604,020							7,529,884
Shareholders’ equity		822,234							806,230
Total liabilities and shareholders’ equity	$	8,426,254						$	8,336,114
Net interest income (FTE)				$	56,240						$	58,084
Net interest margin (FTE)						2.83	%						2.95	%
Net interest spread (FTE)						2.12	%						2.23	%

(1)	Interest on loans includes net fees on loans that are not material in amount.
(2)	For the purpose of calculating the average yield, the average balance of securities do not include unrealized gains and losses on AFS securities.
(3)	Yield/rate includes the impact of applicable derivatives.

Note: As of December 31, 2024 and September 30, 2024, loans totaling $3.2 million and $7.3 million, respectively, were on nonaccrual status. Our policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate.

Southside Bancshares, Inc. Average Balances and Average Yields and Rates (Annualized) (Unaudited) (Dollars in thousands)

	Three Months Ended
	June 30, 2024
	Average Balance			Interest		Average Yield/Rate ⁽³⁾
ASSETS
Loans ⁽¹⁾	$	4,595,980		$	70,293	6.15	%
Loans held for sale		1,489			24	6.48	%
Securities:
Taxable investment securities ⁽²⁾		783,856			7,009	3.60	%
Tax-exempt investment securities ⁽²⁾		1,254,097			12,761	4.09	%
Mortgage-backed and related securities ⁽²⁾		830,504			11,084	5.37	%
Total securities		2,868,457			30,854	4.33	%
Federal Home Loan Bank stock, at cost, and equity investments		40,467			573	5.69	%
Interest earning deposits		300,047			4,105	5.50	%
Federal funds sold		75,479			1,021	5.44	%
Total earning assets		7,881,919			106,870	5.45	%
Cash and due from banks		110,102
Accrued interest and other assets		424,323
Less: Allowance for loan losses		(43,738	)
Total assets	$	8,372,606
LIABILITIES AND SHAREHOLDERS’ EQUITY
Savings accounts	$	604,753			1,454	0.97	%
Certificates of deposit		1,020,099			11,630	4.59	%
Interest bearing demand accounts		3,513,068			25,382	2.91	%
Total interest bearing deposits		5,137,920			38,466	3.01	%
Federal Home Loan Bank borrowings		606,851			6,455	4.28	%
Subordinated notes, net of unamortized debt issuance costs		92,017			936	4.09	%
Trust preferred subordinated debentures, net of unamortized debt issuance costs		60,271			1,171	7.81	%
Repurchase agreements		88,007			955	4.36	%
Other borrowings		143,169			2,595	7.29	%
Total interest bearing liabilities		6,128,235			50,578	3.32	%
Noninterest bearing deposits		1,346,274
Accrued expenses and other liabilities		101,399
Total liabilities		7,575,908
Shareholders’ equity		796,698
Total liabilities and shareholders’ equity	$	8,372,606
Net interest income (FTE)				$	56,292
Net interest margin (FTE)						2.87	%
Net interest spread (FTE)						2.13	%

(1)	Interest on loans includes net fees on loans that are not material in amount.
(2)	For the purpose of calculating the average yield, the average balance of securities do not include unrealized gains and losses on AFS securities.
(3)	Yield/rate includes the impact of applicable derivatives.

Note: As of June 30, 2024, loans totaling $6.1 million were on nonaccrual status. Our policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate.

Southside Bancshares, Inc. Average Balances and Average Yields and Rates (Annualized) (Unaudited) (Dollars in thousands)

	Six Months Ended
	June 30, 2025							June 30, 2024
	Average Balance			Interest		Average Yield/Rate		Average Balance			Interest		Average Yield/Rate
ASSETS
Loans ⁽¹⁾	$	4,572,492		$	135,958	6.00	%	$	4,577,791		$	139,142	6.11	%
Loans held for sale		931			27	5.85	%		5,162			42	1.64	%
Securities:
Taxable investment securities ⁽²⁾		742,375			12,568	3.41	%		782,139			13,976	3.59	%
Tax-exempt investment securities ⁽²⁾		1,132,736			20,604	3.67	%		1,270,010			25,929	4.11	%
Mortgage-backed and related securities ⁽²⁾		1,022,360			26,563	5.24	%		797,608			21,203	5.35	%
Total securities		2,897,471			59,735	4.16	%		2,849,757			61,108	4.31	%
Federal Home Loan Bank stock, at cost, and equity investments		37,194			1,007	5.46	%		40,265			906	4.52	%
Interest earning deposits		289,586			6,123	4.26	%		340,114			9,307	5.50	%
Federal funds sold		35,751			786	4.43	%		69,039			1,859	5.41	%
Total earning assets		7,833,425			203,636	5.24	%		7,882,128			212,364	5.42	%
Cash and due from banks		87,046							112,241
Accrued interest and other assets		455,245							432,904
Less: Allowance for loan losses		(44,925	)						(43,356	)
Total assets	$	8,330,791						$	8,383,917
LIABILITIES AND SHAREHOLDERS’ EQUITY
Savings accounts	$	595,045			2,880	0.98	%	$	604,641			2,878	0.96	%
Certificates of deposit		1,372,110			29,311	4.31	%		981,023			21,971	4.50	%
Interest bearing demand accounts		3,358,573			42,483	2.55	%		3,574,001			51,815	2.92	%
Total interest bearing deposits		5,325,728			74,674	2.83	%		5,159,665			76,664	2.99	%
Federal Home Loan Bank borrowings		503,898			9,558	3.83	%		606,942			12,405	4.11	%
Subordinated notes, net of unamortized debt issuance costs		92,079			1,867	4.09	%		92,956			1,892	4.09	%
Trust preferred subordinated debentures, net of unamortized debt issuance costs		60,275			2,029	6.79	%		60,271			2,346	7.83	%
Repurchase agreements		73,785			1,300	3.55	%		90,092			1,922	4.29	%
Other borrowings		30,528			1,304	8.61	%		140,228			4,759	6.82	%
Total interest bearing liabilities		6,086,293			90,732	3.01	%		6,150,154			99,988	3.27	%
Noninterest bearing deposits		1,337,210							1,342,329
Accrued expenses and other liabilities		87,131							100,558
Total liabilities		7,510,634							7,593,041
Shareholders’ equity		820,157							790,876
Total liabilities and shareholders’ equity	$	8,330,791						$	8,383,917
Net interest income (FTE)				$	112,904						$	112,376
Net interest margin (FTE)						2.91	%						2.87	%
Net interest spread (FTE)						2.23	%						2.15	%

(1)	Interest on loans includes net fees on loans that are not material in amount.
(2)	For the purpose of calculating the average yield, the average balance of securities is presented at historical cost.

Note: As of June 30, 2025 and 2024, loans totaling $5.0 million and $6.1 million, respectively, were on nonaccrual status. Our policy is to reverse previously accrued but unpaid interest on nonaccrual loans; thereafter, interest income is recorded to the extent received when appropriate.

The following tables set forth the reconciliation of return on average common equity to return on average tangible common equity, book value per share to tangible book value per share, net interest income to net interest income adjusted to a fully taxable-equivalent basis assuming a 21% marginal tax rate for interest earned on tax-exempt assets such as municipal loans and investment securities, along with the calculation of total revenue, adjusted noninterest expense, efficiency ratio (FTE), net interest margin (FTE) and net interest spread (FTE) for the applicable periods presented.

Southside Bancshares, Inc. Non-GAAP Reconciliation (Unaudited) (Dollars and shares in thousands, except per share data)

	Three Months Ended															Six Months Ended
		2025						2024									2025			2024
	Jun 30,			Mar 31,			Dec 31,			Sep 30,			Jun 30,			Jun 30,			Jun 30,
Reconciliation of return on average common equity to return on average tangible common equity:
Net income	$	21,813		$	21,507		$	21,786		$	20,524		$	24,673		$	43,320		$	46,184
After-tax amortization expense		157			176			196			220			243			333			509
Adjusted net income available to common shareholders	$	21,970		$	21,683		$	21,982		$	20,744		$	24,916		$	43,653		$	46,693

Average shareholders’ equity	$	815,473		$	824,893		$	822,234		$	806,230		$	796,698		$	820,157		$	790,876
Less: Average intangibles for the period		(202,569	)		(202,784	)		(203,020	)		(203,288	)		(203,581	)		(202,676	)		(203,745	)
Average tangible shareholders’ equity	$	612,904		$	622,109		$	619,214		$	602,942		$	593,117		$	617,481		$	587,131

Return on average tangible common equity		14.38	%		14.14	%		14.12	%		13.69	%		16.90	%		14.26	%		15.99	%

Reconciliation of book value per share to tangible book value per share:
Common equity at end of period	$	807,200		$	816,623		$	811,942		$	805,254		$	800,970		$	807,200		$	800,970
Less: Intangible assets at end of period		(202,449	)		(202,647	)		(202,870	)		(203,119	)		(203,397	)		(202,449	)		(203,397	)
Tangible common shareholders’ equity at end of period	$	604,751		$	613,976		$	609,072		$	602,135		$	597,573		$	604,751		$	597,573

Total assets at end of period	$	8,339,966		$	8,343,300		$	8,517,448		$	8,362,263		$	8,357,702		$	8,339,966		$	8,357,702
Less: Intangible assets at end of period		(202,449	)		(202,647	)		(202,870	)		(203,119	)		(203,397	)		(202,449	)		(203,397	)
Tangible assets at end of period	$	8,137,517		$	8,140,653		$	8,314,578		$	8,159,144		$	8,154,305		$	8,137,517		$	8,154,305

Period end tangible equity to period end tangible assets		7.43	%		7.54	%		7.33	%		7.38	%		7.33	%		7.43	%		7.33	%

Common shares outstanding end of period		30,082			30,410			30,379			30,308			30,261			30,082			30,261
Tangible book value per common share	$	20.10		$	20.19		$	20.05		$	19.87		$	19.75		$	20.10		$	19.75

Reconciliation of efficiency ratio to efficiency ratio (FTE), net interest margin to net interest margin (FTE) and net interest spread to net interest spread (FTE):
Net interest income (GAAP)	$	54,266		$	53,852		$	53,707		$	55,464		$	53,608		$	108,118		$	106,956
Tax-equivalent adjustments:
Loans		565			581			598			608			633			1,146			1,289
Tax-exempt investment securities		1,868			1,772			1,935			2,012			2,051			3,640			4,131
Net interest income (FTE) ⁽¹⁾		56,699			56,205			56,240			58,084			56,292			112,904			112,376
Noninterest income		12,145			10,223			12,281			8,171			11,557			22,368			21,281
Nonrecurring income ⁽²⁾		—			554			(25	)		2,797			(576	)		554			(558	)
Total revenue	$	68,844		$	66,982		$	68,496		$	69,052		$	67,273		$	135,826		$	133,099

Noninterest expense	$	39,257		$	37,089		$	38,159		$	36,332		$	35,765		$	76,346		$	72,646
Pre-tax amortization expense		(198	)		(223	)		(249	)		(278	)		(307	)		(421	)		(644	)
Nonrecurring expense ⁽³⁾		(2,090	)		(1	)		(919	)		(219	)		2			(2,091	)		19
Adjusted noninterest expense	$	36,969		$	36,865		$	36,991		$	35,835		$	35,460		$	73,834		$	72,021

Efficiency ratio		55.67	%		57.04	%		56.08	%		53.94	%		54.90	%		56.34	%		56.41	%
Efficiency ratio (FTE) ⁽¹⁾		53.70	%		55.04	%		54.00	%		51.90	%		52.71	%		54.36	%		54.11	%

Average earning assets	$	7,709,799		$	7,958,424		$	7,913,371		$	7,823,026		$	7,881,919		$	7,833,425		$	7,882,128

Net interest margin		2.82	%		2.74	%		2.70	%		2.82	%		2.74	%		2.78	%		2.73	%
Net interest margin (FTE) ⁽¹⁾		2.95	%		2.86	%		2.83	%		2.95	%		2.87	%		2.91	%		2.87	%

Net interest spread		2.15	%		2.08	%		1.99	%		2.10	%		2.00	%		2.11	%		2.01	%
Net interest spread (FTE) ⁽¹⁾		2.27	%		2.20	%		2.12	%		2.23	%		2.13	%		2.23	%		2.15	%

(1)	These amounts are presented on a fully taxable-equivalent basis and are non-GAAP measures.
(2)	These adjustments may include net gain or loss on sale of securities available for sale, BOLI income related to death benefits realized and other investment income or loss in the periods where applicable.
(3)	These adjustments may include foreclosure expenses, branch closure expenses and other miscellaneous expense, in the periods where applicable.

The MIL Network –

July 25, 2025

MIL-OSI Asia-Pac: InvestHK visits UK to forge stronger Hong Kong-UK partnerships on sustainability and green tech innovation (with photos)

Source: Hong Kong Government special administrative region

     â€‹Invest Hong Kong (InvestHK) completed a fruitful visit to the United Kingdom (UK) from July 13 to 20, championing Hong Kong as a premier international green technology hub for UK companies seeking growth and collaboration opportunities in Asia and beyond.

     During the visit, the Senior Vice President (Sustainability) for Technology, Innovation and Entrepreneurship at InvestHK, Ms Olivia To, engaged with key stakeholders in London and Cambridge to foster two-way business opportunities and deepen co-operation in sustainability and green tech innovation.

     In London, Ms To held extensive discussions with leading UK’s new energy, new materials and digital companies, as well as UK Research and Innovation, the national funding agency investing in science and research, Sustainable Ventures, a leading green tech hub and ecosystem provider, Generation Investment Management, a sustainable investment management firm, London & Partners, London’s business growth and destination agency, and London GreenCity, a clean technology entrepreneurs accelerator providing prototyping lab and collaborative community.

     In Cambridge, Ms To spoke at the event titled “Powering Tomorrow: Deep Tech Innovations for a Sustainable Energy Future”, co-organised by the University of Cambridge Institute for Sustainability Leadership and Full Vision Capital, highlighting the competitive advantages Hong Kong offers energy and technology companies to grow and thrive across the region. The conference featured dynamic keynotes on growth strategies for clean energy start-ups, panel discussions on disruptive energy innovations, and a start-up demo where over 30 start-ups showcased their cutting-edge solutions. The event culminated in the announcement of the 4th TERA-Award Winner receiving a prize of US$1 million and a celebratory Gala Dinner, fostering further global networking and collaboration opportunities.

     Ms To said, “Hong Kong’s unparalleled status as a global financial powerhouse connects the East and West markets, bolstered by its dynamic green tech ecosystem and visionary government initiatives like the Green Tech Fund, the Innovation and Technology Fund and the Hong Kong Science and Technology Parks Corporation’s GreenTech Hub, and positions it as the premier gateway for UK companies to amplify green innovations across Asia. This visit underscores our dedication to fostering collaboration in sustainability and green technology between Hong Kong and the UK. We look forward to supporting more UK companies in establishing and expanding their presence in Hong Kong, utilising our robust financial infrastructure to facilitate financing and IPO listings that attract international capital.”

     The Executive Chairman of the TERA-Award, Mr Alan Chan, stated, “It was our pleasure to have InvestHK’s participation in our TERA-Award event. Together, we are building a stronger global innovation ecosystem that connects investors, start-ups, and green organisations, fostering groundbreaking solutions in smart energy. We look forward to working closely with InvestHK to further expand our promotion of the TERA-Award to the global market and establish a bridge between the international energy contexts.”

     The Chief Innovation Officer from the Cambridge Institute for Sustainability Leadership, Mr James Cole, said, “We are delighted to welcome InvestHK’s participation in our event, enhancing the collaboration between the UK and Hong Kong economies, supporting sustainability start-ups and strengthening the ecosystem. This collaboration ignites our commitment to forge global partnerships that will propel deep tech innovations, fostering a greener and more resilient future. Together, we anticipate to deepen our collaboration to accelerate the transition to a sustainable future and empower the next generation of innovators.”

     Co-Founder of London GreenCity Mr Laith Anezi said, “Both Hong Kong and the UK share a strong commitment to driving innovation in green technology. InvestHK’s visit has forged a robust foundation for strengthening ties between Hong Kong and British sustainability and green tech companies. We are excited to deepen our partnership with InvestHK, driving innovation to shape a sustainable world together.”

     Hong Kong, as the world’s third-largest financial hub, is well positioned to be the global leader in green tech and finance. The city is transitioning to cleaner energy sources, targeting carbon neutrality by 2050, supported by the Strategy of Hydrogen Development in Hong Kong and significant investments in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone.

     In green mobility, Hong Kong’s roadmap for electric vehicles has seen 70 per cent of newly registered private cars in 2024 be electric, with plans to establish the city as a green maritime fuel bunkering centre.

     This visit to the UK is a testament to Hong Kong’s dedication to fostering international collaboration and driving the global transition to a sustainable future. By attracting more UK companies in sustainable technology and innovation, Hong Kong aims to accelerate the adoption of innovative solutions that address the world’s most pressing environmental challenges.



MIL OSI Asia Pacific News –

July 25, 2025
MIL-OSI Europe: ASIA/VIETNAM – “Vietnamese Catholic medical staff admired by the people and praised by the Vietnamese State”

Source: Agenzia Fides – MIL OSI

Friday, 25 July 2025

by Andrew Doan Thanh PhongHanoi (Agenzia Fides) – Right before the mass, the priest was asked to celebrate the mass as quickly as possible, due to the health of the patients from the Oncology Hospital who are attending the mass. The patients tried to walk step by step into the church with the help of volunteers and relatives to meet Christ. Despite the inconvenience, the mass still remained more fervent than ever, and with the singing of nuns combined with prayers made by the mass participants in their weak voices, the mass was celebrated in a sacred and beautiful atmosphere.It was the 9am Sunday mass held every week at Phan Thon parish in Vinh diocese in central Vietnam, dedicated to serious patients being treated at the hospital. After the mass, the patients, the priest, and the volunteers gathered together to share meals filled up with love and comfort.Also in Vinh diocese, on July 13, 2025, 83 medical staff across the country, most of them Catholics, in coordination with the Medical Team Organization which is founded by Vietnamese priests and religious living in the United States, examined and provided free medicine to many poor people regardless of religion in Ru Dat Parish and neighboring areas. With good expertise and a dedicated working spirit, along with many modern medical examination equipments, the medical volunteers of the Medical Team helped hundreds of elderly men, women and children of the community of Ru Dat in protecting their health and distributing them medicine.The beautiful images of the devotion in serving patients of Catholic medical staff have been trusted and admired by the Vietnamese people and government, not only in treating illnesses but also in healing spiritual wounds.As mentioned in a report of the National Committee for Religious Affairs (a governmental organization of the Socialist Republic of Vietnam in charge of the government’s religious affairs): “In fact, the contribution of religion in today’s society is not only in terms of morality but also in many other social fields, especially in the field of healthcare. Catholicism is a religion that actively participates in healthcare to share and help the poor, the sick, the disadvantaged, and to testify to the values of love and charity of Christianity.”According to statistics, there are currently 113 medical facilities owned be religious organizations across the Country that have been under operation, of which 56 are from the Catholic Church of Vietnam, specializing in medical examination and treatment and care for the elderly, the mentally ill, orphans, abandoned children, and people with HIV/AIDS. And also according to the report of the Government’s Committee for Religious Affairs, many charitable activities regarding to healthcare are regularly performed by Catholic religious orders and parishioners in many parishes, dioceses all over the Country to help poor patients including non-Catholics such as free distribution of medicine to patients, buying health insurance for them, examining health; cooperating with specialists in hospitals to perform eye surgery freely for poor patients; organizing charity kitchens for providing foods to patients in hospitals, and helping people in specially difficult circumstances in society, caring for and educating HIV-infected children, and helping disabled, poor, homeless children, and autistic children.According to the State newspaper of Dai Doan Ket: “For decades, Kim Long Charity Clinic has become a trusted address of examination and treatment for patients with difficult circumstances in Thua Thien Hue province”. Mr. Nguyen Van Long, a regular patient, frequently receive examination and treatment at Kim Long clinic run by the nuns from the Congregation of the Daughters of the Immaculate Conception of Hue in central Vietnam, shared: “Since I learned that the clinic provides free medical treatment to people, I have come here every month for examination and treatment. Thanks to that, my illness has improved a lot. The nuns here, in addition to their expertise, are also very dedicated, they always ask questions about health and take good care of patients, so all the patients who come here feel happy and love the nuns”.“Healthcare workers are not simply doctors, nurses or paramedics, but first of all, are children of God who are called to collaborate with God in the mission of protecting and caring for life. They are not only physical healers, but also witnesses of hope in the midst of suffering and illness. Following the example of Saint John of God, that is, is dedicated yourself to serving the sick with compassion, under the accompaniment of the Church and the grace of God.” said by Father Joseph Phan Anh Dung, from the Camilô Order specializing in care for patients in Vietnam, during the recent pilgrimage of the Holy Year 2025 in the Da Nang diocese with the presence of more than 60 Catholic doctors and medical staff.Besides those good images, challenges and temptations for Catholic medical staff still exist in Vietnamese society nowadays, and Father Dung reminded: “Temptations in the medical environment, from professional pressure, material benefits, compromises in medical intervention contrary to Christian ethics are still present here and there. When losing that ethical principle, the physician risks no longer being a collaborator with God in protecting life, but inadvertently becoming an agent for the decline of medical ethics”. (Agenzia Fides, 25/7/2025)
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MIL OSI Europe News –

July 25, 2025
MIL-OSI United Kingdom: Over 55,000 Tax Returns filed ahead of deadline – Islanders urged to act now25 July 2025 With just six days remaining until the 31 July filing deadline, Revenue Jersey has received 55,013 tax returns for 2025 – 28,454 on paper and 26,559 submitted electronically. Approximately 67,000 returns… Read more
Source: Channel Islands – Jersey

25 July 2025

With just six days remaining until the 31 July filing deadline, Revenue Jersey has received 55,013 tax returns for 2025 – 28,454 on paper and 26,559 submitted electronically.

Approximately 67,000 returns are expected overall meaning approximately 12,000 remain outstanding, though the final figure may be lower due to taxpayers leaving the Island without notifying Revenue Jersey.

Taxpayers are reminded that if they have not previously filed their returns online previously they will need to activate onegov accounts.

Comptroller of Revenue, Richard Summersgill, said: “Islanders must allow time to activate a onegov account and complete digital ID setup. Verification delays can occur, so we urge taxpayers to act promptly and use the guidance available to avoid late filing penalties.”

There is a range of support available for the whole process, including:
- Step-by-step video for setting up a digital ID
- Telephone support for the tax return from Revenue Jersey on (01534) 440300
- Telephone support to activate a onegov account from Customer and Local Services on (01534) 444444
- Online guidance for filing your tax return: File your personal tax return.
If you don’t file by the deadline:

You will have a £300 fine added onto your assessment once you do file your return. You will also receive a ‘Default Assessment’ in August, which is calculated based on the latest information held about your income and circumstances.

If you don’t file your return within 12 months, you will have to pay the default assessment amount. If you are more than 3 months late filing, you will start getting an additional penalty of £50 for every month up to a maximum penalty of £750.
MIL OSI United Kingdom –
July 25, 2025
MIL-OSI Russia: Landscaping of the territory at the second stage of the new NSU campus has begun

Translation. Region: Russian Federal

Source: Novosibirsk State University –

An important disclaimer is at the bottom of this article.

At the facilities of the educational and scientific center Institute of Medicine and Medical Technologies (UNC IMMT) and the Scientific Research Center (SRC) of NSU, which belong to the second stage new campus of NSU, which is being built within the framework of the national project “Youth and Children”, began to improve the territory. They are laying paving slabs, asphalt concrete pavement, and also decorating lawns. The improvement will be completed by the start of the winter season.

In addition, the installation of stained glass windows has been completed at the second stage facilities, and the façade installation work is almost complete. The installation of external utility networks, including sewerage and water supply, is one third complete, and the finishing of the premises is also actively underway – plastering, cladding work, etc. In general, the construction readiness of the NSU IMMT UNC is 50%, and that of the NSU NRC is 45%.

— The new NSU campus will become a center of attraction for innovations. The premises of the NSU IMMT URC will house modern laboratories, the new building will accommodate up to 700 students. Also, based on the infrastructure of the new campus, we will develop network educational programs, such as Medical Cybernetics and Industrial Pharmacy. This will become the basis for transforming medical education and bringing it to a new level. At the NSU NRC, we will develop promising research areas, such as biotechnology and biomedical research, artificial intelligence and big data processing, space and special instrumentation, etc., — commented NSU Rector, Academician of the Russian Academy of Sciences Mikhail Fedoruk.

Work is also being completed on equipping the new building of flow classrooms with furniture and technical equipment, permission for commissioning of which was received at the end of 2024. The educational process in the building will begin in September 2025.

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 –

July 25, 2025
MIL-OSI Russia: Landscaping of the territory at the second stage of the new NSU campus has begun

Translation. Region: Russian Federal

Source: Novosibirsk State University –

An important disclaimer is at the bottom of this article.

At the facilities of the educational and scientific center Institute of Medicine and Medical Technologies (UNC IMMT) and the Scientific Research Center (SRC) of NSU, which belong to the second stage new campus of NSU, which is being built within the framework of the national project “Youth and Children”, began to improve the territory. They are laying paving slabs, asphalt concrete pavement, and also decorating lawns. The improvement will be completed by the start of the winter season.

In addition, the installation of stained glass windows has been completed at the second stage facilities, and the façade installation work is almost complete. The installation of external utility networks, including sewerage and water supply, is one third complete, and the finishing of the premises is also actively underway – plastering, cladding work, etc. In general, the construction readiness of the NSU IMMT UNC is 50%, and that of the NSU NRC is 45%.

— The new NSU campus will become a center of attraction for innovations. The premises of the NSU IMMT URC will house modern laboratories, the new building will accommodate up to 700 students. Also, based on the infrastructure of the new campus, we will develop network educational programs, such as Medical Cybernetics and Industrial Pharmacy. This will become the basis for transforming medical education and bringing it to a new level. At the NSU NRC, we will develop promising research areas, such as biotechnology and biomedical research, artificial intelligence and big data processing, space and special instrumentation, etc., — commented NSU Rector, Academician of the Russian Academy of Sciences Mikhail Fedoruk.

Work is also being completed on equipping the new building of flow classrooms with furniture and technical equipment, permission for commissioning of which was received at the end of 2024. The educational process in the building will begin in September 2025.

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 –

July 25, 2025
MIL-OSI Russia: Summer Internship in STB Format

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 21, Huang Yi, a student at China Agricultural University (CAU), operates an agricultural drone to carry out precision fertilization of corn at the Science and Technology Backyard (STB) experimental field in Lishu County, Siping City, Jilin Province. She explained that creating a precision fertilization scenario using a drone involves several steps, including collecting spectral data and dividing into cells for trajectory planning. After data processing, flexible adjustments are also required based on actual soil moisture. During the summer holidays, Huang Yi and her classmates will be busy working in the fields, learning about agricultural technology and helping farmers reduce costs and increase yields. China Agricultural University, Jilin Agricultural University, and Lishu County government jointly developed the STB in 2009. And for more than ten years now, many students studying in agricultural specialties have come here to conduct field research, experiments and popularize advanced agricultural technologies.

Zhao Gang (center), chairman of Xinyuan Professional Agricultural Production Cooperative, talks to students about the current growth status of corn at the STB experimental field in Lishu County, Siping City, Jilin Province, July 21. Photo: Xinhua News Agency/Zhang Nan

Huang Yi, a student at China Agricultural University, adjusts the parameters of an agricultural drone at an STB experimental field in Lishu County, Siping City, Jilin Province, July 21. Photo: Xinhua News Agency/Zhang Nan

An agrodron applies fertilizer to corn with high precision at an STB experimental field in Lishu County, Siping City, Jilin Province, July 21 (photo by drone). Photo: Xinhua News Agency/Zhang Nan

Huang Yi, a student at China Agricultural University, operates an agricultural drone to carry out precision fertilization of corn at an STB experimental field in Lishu County, Siping City, Jilin Province, July 21. Photo: Xinhua News Agency/Zhang Nan

An agrodron applies fertilizer to corn with high precision at an STB experimental field in Lishu County, Siping City, Jilin Province, July 21 (photo by drone). Photo: Xinhua News Agency/Zhang Nan

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

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MIL OSI Russia News –

July 25, 2025
MIL-OSI United Kingdom: Statement on Australia-UK Ministerial Consultations (AUKMIN) July 2025
Source: United Kingdom – Executive Government & Departments

Press release

Statement on Australia-UK Ministerial Consultations (AUKMIN) July 2025

Joint statement from UK and Australia on the Australia-UK Ministerial Consultations (AUKMIN) July 2025
1 . On 25 July 2025, the Minister for Foreign Affairs Senator the Hon Penny Wong and the Deputy Prime Minister and Minister for Defence the Hon Richard Marles MP hosted the Secretary of State for Foreign, Commonwealth and Development Affairs the Rt Hon David Lammy MP and the Secretary of State for Defence the Rt Hon John Healey MP for the Australia-UK Ministerial Consultations (AUKMIN) in Sydney.

2 . Ministers noted the global security environment had become more dangerous and unpredictable since they last met in December 2024. They recognised the elevated importance of the enduring Australia-UK relationship in responding together to address these challenges.

3 . Ministers agreed to significantly increase their cooperation to bolster Australia and the UK’s defence and national security, enhance economic security and mitigate and address the impacts of climate change. Ministers agreed on the enduring importance of the UK-Australia relationship in delivering economic growth to our peoples and globally.

4 . Ministers underscored the role Australia and the UK play in upholding the rules, norms and institutions, including respect for universal human rights, that underpin global prosperity and security, and noted their deep, clear and longstanding commitment to the multilateral system. They committed to consider joint initiatives and advocacy on multilateral reform, including on the UN Secretary-General’s UN80 Initiative, to ensure the multilateral system is able to continue to deliver on critical core functions and mandates.

Closer cooperation in the Indo-Pacific

5 . Ministers reaffirmed that the security, resilience and prosperity of the Indo-Pacific and Euro-Atlantic regions are interconnected. They committed to continue to expand efforts to safeguard internationally agreed rules and norms and respect for sovereignty. Ministers agreed on the need to shape a world characterised by adherence to rules and norms, rather than power or coercion.

6 . Ministers committed to further strengthen cooperation, bilaterally and with regional partners, to ensure a peaceful, stable and prosperous Indo-Pacific. Ministers agreed the UK and Australia’s enduring engagement in the Indo-Pacific was important to shaping a favourable strategic balance in the region.

7 . Recognising the deteriorating geostrategic environment, Ministers emphasised the need for all countries to manage strategic competition responsibly, and the importance of dialogue and practical measures to reduce the risks of miscalculation, escalation and conflict.

8 . Ministers reiterated their strong opposition to coercive or destabilising activities by China’s Coast Guard, naval vessels and maritime militia in the South China Sea, including sideswiping, water cannoning and close manoeuvres that have resulted in injuries, endangered lives and created risks of miscalculation and escalation. Ministers agreed to continue cooperating to support freedom of navigation and overflight in the region, including through participation in joint activities. They also reiterated their concern about the situation in the East China Sea.

9 . Ministers emphasised the obligation of all states to adhere to international law, particularly the United Nations Convention on the Law of the Sea (UNCLOS), which provides the comprehensive legal framework for all activities in the ocean and seas. They agreed that maritime disputes must be resolved peacefully and in accordance with international law. Ministers reaffirmed that the 2016 South China Sea Arbitral Tribunal decision is final and binding on the parties. They emphasised any South China Sea Code of Conduct must be consistent with UNCLOS and not undermine the rights of States under international law.

10 . Ministers agreed on the critical importance of peace and stability across the Taiwan Strait. They called for the peaceful resolution of cross-Strait issues through dialogue and not through the threat or use of force or coercion, and reaffirmed their opposition to unilateral changes to the status quo. They expressed concern at China’s destabilising military exercises around Taiwan. Ministers recognised that the international community benefits from the expertise of the people of Taiwan and committed to support Taiwan’s meaningful participation in international organisations where statehood is not a pre-requisite or as an observer or guest where it is. They reiterated their will to continue to deepen relations with Taiwan in the economic, trade, scientific, technological, and cultural fields.

11 . Ministers strongly condemned the DPRK’s ongoing nuclear and ballistic missile programs and called for the complete, verifiable and irreversible denuclearisation of the DPRK. Ministers also expressed grave concern over the DPRK’s malicious cyber activity, including cryptocurrency theft and use of workers abroad to fund the DPRK’s unlawful weapons of mass destruction and ballistic missile programs.

12 . Ministers emphasised their commitment to ASEAN centrality and recognised the critical role of ASEAN-led architecture in promoting peace, stability and prosperity in the region. They reaffirmed their ongoing commitment to support the practical implementation of the ASEAN Outlook on the Indo-Pacific.

13 . Ministers underscored their commitment to deepen engagement on trade and investment diversification in Southeast Asia, including through Invested: Australia’s Southeast Asia Economic Strategy to 2040, Australia’s AUD 2 billion Southeast Asian Investment Financing Facility and dedicated Southeast Asia Investment Deal Teams, and the UK’s enhanced economic engagement. Ministers agreed to continue to strengthen coordination on clean energy transition in Southeast Asia and cooperation to bolster the region’s economic resilience through the mobilisation of private finance for climate objectives and green infrastructure, exploring collaboration on financing of low-carbon energy projects, and coordination of support to the ASEAN Power Grid.

14 . Ministers reaffirmed their commitment to combat people smuggling, human trafficking and modern slavery in South and Southeast Asia, recognising that women and girls were most impacted, with a focus on trafficking into scam centres.

15 . Ministers reiterated their commitment to the Indian Ocean Rim Association (IORA) as the premier ministerial-level forum in the Indian Ocean region. They agreed to continue collaboration on shared priorities in the Indian Ocean, including maritime security.

16 . Ministers reiterated their serious concern at the deepening humanitarian crisis and escalating violence in Myanmar, compounded by the devastating earthquake in March. They strongly condemned the Myanmar regime’s violent oppression of its people, including the continued bombardment of civilian infrastructure. They called for all parties to prioritise the protection of civilians. They called on the regime to immediately cease violence, release those arbitrarily detained, allow safe and unimpeded humanitarian access, and return Myanmar to the path of inclusive democracy. Ministers reiterated their support for ASEAN’s efforts to resolve the crisis, including through the Five Point Consensus and the work of the ASEAN Special Envoy and UN Special Envoy. They welcomed ASEAN leaders’ recent call for an extended and expanded ceasefire, and inclusive national dialogue.

17 . Ministers highlighted their commitment to continue to work with Pacific island countries through existing regional architecture, recognising the centrality of the Pacific Islands Forum. They agreed on the importance of pursuing Pacific priorities as set out in the 2050 Strategy for the Blue Pacific Continent. Ministers joined Pacific partner calls for increased access to climate finance, including further support to Pacific-owned and led mechanisms such as the Pacific Resilience Facility. Ministers welcomed ongoing reform of multilateral climate funds, including the Green Climate Fund (GCF), to provide better outcomes for Pacific island countries, noting encouraging progress made regarding the accreditation of Direct Access Entities and GCF regional presence. Ministers welcomed the UK’s continued contributions to Pacific security through their assistance in the removal of explosive remnants of war via their participation in the Australian-led Operation Render Safe. Ministers agreed to continue to work together to advance transparent and high-quality development in line with the Pacific Quality Infrastructure Principles (PQIPs), including through the Pacific Business Club. Ministers committed to work collaboratively on respective approaches to the Multilateral Development Banks (MDBs) to encourage reform consistent with the PQIPs. Ministers underscored our shared commitment to cyber coordination and capacity-building in the Pacific including through support to the inaugural Pacific Cyber Week in August 2025, a concept endorsed by the Pacific Islands Forum. Ministers emphasised the importance of sharing expertise and strengthening people-to-people links for a more cyber-resilient Pacific.

Ambitious partners, facing global challenges together

18 . Ministers unequivocally condemned Russia’s full-scale invasion of Ukraine and called on Russia to immediately withdraw its troops from Ukraine’s internationally recognised territory, and adhere fully to its obligations under international law, including in relation to the protection of civilians and treatment of prisoners of war. They reiterated their commitment to making sure that Ukraine gets the military and financial support it needs to defend itself in the fight now and agreed to step up action against Russia’s war machine. They emphasised the importance of taking further action against Russia’s shadow fleet, acknowledging the sanctions both countries had imposed in this regard. They also called on Russia to immediately cease their illegal deportation of Ukrainian children and reunify those already displaced with their families and guardians in Ukraine.

19 . Ministers reiterated their deep concerns about the role of third countries in supporting Russia’s illegal war in Ukraine and the associated impact for the security of the Indo-Pacific. They called on China to prevent its companies from supplying dual-use components to Russia’s war effort, and exercise its influence with Russia to stop Moscow’s military aggression and enter negotiations to end the war in good faith. Ministers strongly condemned the DPRK’s support for Russia through the supply of munitions and deployment of DPRK personnel to enable Russia’s war efforts. Ministers called on Iran to cease all support for Russia’s illegal war against Ukraine and halt the transfer of ballistic missiles, UAVs and related technology.

20 . Ministers agreed deepening military cooperation between Russia and the DPRK was a dangerous expansion of Russia’s war that has significant implications for security in the Indo-Pacific region. They expressed deep concerns about any political, military or economic support Russia may be providing to the DPRK’s nuclear and ballistic missile programs. Ministers affirmed their commitment to cooperating with international partners to strengthen efforts to hold the DPRK to account for violations and evasions of UN Council Resolutions (UNSCRs) including as founding members of the Multilateral Sanctions Monitoring Team (MSMT). Ministers acknowledged the release of the MSMT’s first report, which shines a light on unlawful DPRK-Russia military cooperation including arms transfers and Russia’s training of DPRK troops. Ministers urged all UN Member States to abide by their international obligations under the UNSCRs to implement sanctions, including the prohibition on the transfer or procurement of arms and related material to or from the DPRK.

21 . Ministers called on Iran and Israel to adhere to the ceasefire and urged Iran to resume negotiations with the US. Ministers stated their determination that Iran must never develop a nuclear weapon. It is essential that Iran act promptly to return to full compliance with its safeguards obligations, cooperate fully with the International Atomic Energy Agency, and refrain from actions that would compromise efforts to address the security situation in the Middle East. Ministers condemned Iran’s unjust detention of foreign nationals and raised ongoing concerns over the human rights situation in Iran, particularly the escalation of the use of the death penalty as a political tool during the 12-day conflict, and the ongoing repression of women, girls and human rights defenders.

22 . Ministers reiterated their support for Israel’s security and condemnation of Hamas’ horrific attacks on 7 October 2023, and underlined that Israeli actions must abide by international law. They called for an immediate ceasefire in Gaza, an end to Israeli blocks on aid, and the urgent and unconditional release of all hostages.

23 . Ministers reaffirmed their conviction that an immediate and sustained ceasefire, alongside urgent steps towards a credible and irreversible pathway to a two-state solution are the only ways to deliver lasting peace, security and stability for Israelis, Palestinians and the wider region.

24 . Ministers expressed grave concerns at the horrific and intolerable situation in Gaza. They continue to be appalled by the immense suffering of civilians, including Israel’s blocking of essential aid. They reiterated their call for Israel to immediately enable full, safe and unhindered access for UN agencies and humanitarian organisations to work independently and impartially to save lives, end the suffering and deliver dignity. Ministers also condemned settler violence in the West Bank, which has led to deaths of Palestinian civilians and the displacement of whole communities, and expressed opposition to any attempt to expand Israel’s illegal settlements.

25 . Ministers expressed their deep concern for the safety and security of humanitarian personnel working in conflict settings around the world. They reaffirmed their commitment to finalise a Declaration for the Protection of Humanitarian Personnel and implement practical actions to ensure greater respect for and protection of humanitarian personnel. Ministers also called on all countries to endorse the Declaration once launched and to reaffirm their responsibility to uphold humanitarian principles and ensure respect for international humanitarian law. Ministers discussed the essential role of the humanitarian system which is critical to saving lives and livelihoods and avoiding mass displacement. Ministers noted that the core work of the UN, the Red Cross and Red Crescent Movement, and international, national and local humanitarian organisations, must be preserved. Ministers also reiterated support for the Emergency Relief Coordinator’s humanitarian reset.

26 . Ministers committed to continue close collaboration on protecting and promoting gender equality internationally and countering rollback of rights, including through Australia-UK Strategic Dialogues on Gender Equality and progressing subsequent agreed commitments, such as the UK-Australia Gender Based Violence MoU.

27 . Ministers reaffirmed their commitment to the full implementation of the Women Peace and Security (WPS) agenda. They acknowledged the 25th anniversary of UN Security Council Resolution 1325 and agreed to continue working together on implementing the WPS agenda, promoting the full, equal, meaningful and safe participation and leadership of women in conflict prevention, mediation and resolution, and working together on preventing conflict-related sexual violence and ending impunity.

28 . Ministers reiterated their serious shared concerns about human rights violations in China, including the persecution and arbitrary detention of Uyghurs and Tibetans and the erosion of their religious, cultural, education and linguistic rights and freedoms. They expressed their deep concern with the transfer of a cohort of 40 Uyghurs to China against their will in February this year. Ministers shared grave concerns about the ongoing systemic erosion of Hong Kong’s autonomy, freedom, rights and democratic processes, including through the imposition of national security legislation and the prosecution of individuals such as British national Jimmy Lai and Australian citizen Gordon Ng. They shared their deep concern over the actions of Hong Kong authorities in targeting pro-democracy activists both within Hong Kong and overseas, including in Australia and the UK.

29 . Ministers expressed growing concern over foreign information manipulation and interference (FIMI) and attempts to undermine security and democratic institutions and processes. They committed to working closely to analyse and respond to FIMI in order to raise the costs for malign actors, and build collective responses to FIMI, including in multilateral fora, and to promote resilient, healthy, open and fact-based environments.

30 . Ministers acknowledged the unprecedented opportunities presented by critical and emerging technologies, including artificial intelligence, and the need to mitigate harms to build trust and confidence. They committed to collaborate on reciprocal information sharing on advanced AI capabilities and research, including between Australian agencies and the UK AI Security Institute, and working together to capture the opportunities of AI through the bilateral Cyber and Critical Technology Partnership.

31 . Australia welcomed the UK’s new Laboratory for AI Security Research (LASR) and looked forward to exploring the opportunities for cooperation between our nations. The lab will pull together our world-class industry, academia and government agencies to ensure we reap the benefits of AI, while detecting, disrupting and deterring adversaries who would use it to undermine our national security and economic prosperity.

32 . Ministers expressed shared concern over the persistent threat of malicious cyber activities impacting our societies and economies and agreed to continue to work closely on leveraging all tools of deterrence, including the use of attributions and sanctions to impose reputational, financial costs and travel bans on these actors. Our respective statements calling out the egregious activity of Russia’s GRU on Friday 18 July is a good example of such cooperation.

33 . The UK is pleased to welcome Australia as a partner to the Common Good Cyber Fund, designed to strengthen cybersecurity for individuals most at risk from digital transnational repression. The Fund was first launched by the Prime Ministers of the UK and Canada under the G7 Rapid Response Mechanism. This participation underscores the growing commitment among G7 partners and like-minded nations to counter this threat and to deliver support to those who may be targeted.

34 . Ministers reiterated their commitment to the Commonwealth as a unique platform for cross-regional dialogue and cooperation. They noted the importance of the Commonwealth in elevating the voices of small developing states on issues of global importance. Ministers took note of the important role of the Commonwealth Small States Offices in New York and Geneva, and committed to looking into options for expansion of this offer.

Building shared defence capability

35 . Ministers welcomed the continued growth in the bilateral defence relationship including the deployment of a British Carrier Strike Group to Australia for Exercise Talisman Sabre 2025 as part of an Indo-Pacific deployment. HMS Prince of Wales is the first UK aircraft carrier to visit Australia since 1997 and the deployment demonstrates the UK’s ongoing commitment to increase interoperability with Australia in the Indo-Pacific following significant contributions to Exercises Pitch Black and Predator’s Run in 2024. Ministers look forward to future opportunities in Australia and the wider region, including leveraging the Royal Navy’s (RN) offshore patrol vessels persistently deployed in the Indo-Pacific.

36 . Ministers also welcomed the success of the inaugural Australia-UK Staff Level Meeting, with the second meeting set to take place in Australia later this year. This forum will continue to progress joint strategic and operational objectives, supporting the evolution of the bilateral relationship.

37 . Ministers reaffirmed their enduring commitment to the generational AUKUS partnership, which is supporting security and stability in the Indo-Pacific and beyond, enhancing our collective deterrence against shared threats. This capability and technology sharing partnership will deliver military advantage to deter adversaries and promote regional security. The partnership also provides new pathways for innovation, boosting interoperability between partners and strengthening our combined defence industrial base.

38 . Ministers announced their intent to sign a bilateral AUKUS treaty between the UK and Australia on Saturday, 26 July. The Treaty is a landmark agreement, which will underpin the next 50 years of UK-Australian bilateral cooperation under AUKUS Pillar I.

39 . The Treaty will enable comprehensive cooperation on the design, build, operation, sustainment, and disposal of our SSN-AUKUS submarines; support the development of the personnel, workforce, infrastructure and regulatory systems required for Australia’s nuclear-powered submarine program; and realise increased port visits and the rotational presence of a UK Astute Class submarine at HMAS Stirling under Submarine Rotational Force – West.

40 . The Treaty will enable our two countries to deliver a cutting-edge undersea capability through the SSN-AUKUS, in conjunction with our partner the US. Through working together we are supporting stability and security in the Indo-Pacific and beyond for decades to come, creating thousands of jobs, strengthening our economies and supply chains, building our respective submarine industrial bases and providing new opportunities for industry partners.

41 . Ministers welcomed the significant progress made towards delivering Pillar I, including the entry into force of the AUKUS Naval Nuclear Propulsion Agreement between Australia, the UK and US on 17 January 2025 and the progress in design of the SSN-AUKUS submarines that will be operated by the RN and the Royal Australian Navy (RAN).

42 . Ministers welcomed the UK’s June commitment, in its Strategic Defence Review, to build up to 12 SSN-A submarines, and continuous submarine production through investments in Barrow and Raynesway that will allow the UK to produce a submarine every 18 months, and recognised the UK’s additional investment to transform the UK’s submarine industrial base.

43 . Ministers reaffirmed Australia and the UK’s strong and ongoing commitment to the delivery of the AUKUS Optimal Pathway. Reflecting the UK’s enduring dedication to this partnership, and long-standing engagement in the Indo-Pacific, Ministers welcomed the planned deployment of a RN submarine to undertake a port visit to Australia in 2026, delivering a varied programme of operational and engagement activities. The visit will support preparations for the establishment of the Submarine Rotational Force – West from as early as 2027, and represents another step forward on the shared path towards the delivery of SSN-AUKUS – ensuring our navies are ready, integrated, and capable of operating together to promote security and stability in the region.

44 . Ministers underscored the importance of ensuring Australia’s acquisition of a conventionally-armed, nuclear-powered submarine capability sets the highest non-proliferation standard, and endorsed continued close engagement with the International Atomic Energy Agency.

45 . Ministers affirmed their commitment under AUKUS Pillar II to continue to deliver tangible advanced capabilities to our defence forces and welcomed progress to date. By leveraging advanced technologies, our forces become more than the sum of their parts. They underlined the importance of Pillar II in streamlining capability acquisition and strengthening our defence innovation and industry sectors.

46 . As part of Talisman Sabre 25, AUKUS partners participated in Maritime Big Play activities as well as groundbreaking AI and undersea warfare trials. The partners tested the remote operation of the UK’s Extra Large Unmanned Underwater Vehicle, Excalibur, controlled from Australia while operating in UK waters. The exercise once again accelerated interoperability between our forces and the accelerated integration of remote and autonomous systems.

47 . Ministers noted the successful UK E-7A Seedcorn training program in Australia. The program, which is set to conclude in December 2025, was established to preserve a core of Airborne Early Warning and Control expertise within the Royal Air Force (RAF) and to lay a strong foundation for the introduction of the UK’s own Wedgetail aircraft. Thanks to the exceptional support of the Royal Australian Air Force (RAAF), since its inception in 2018, 30 RAF personnel – including pilots, mission crew, engineer officers, aircraft technicians, and operations specialists – have benefited from world-class training and exposure to the Wedgetail capability.

48 . Ministers welcomed the upcoming deployment of a RAAF E-7A Wedgetail to Europe in August under Operation Kudu to help protect vital supply lines for humanitarian aid and military assistance into Ukraine. Delivering upon the vision for true interchangeability detailed in the Wedgetail Trilateral Joint Vision Statement in 2023, this deployment will see the Wedgetail jointly crewed by Australian and British service members in a live operational setting. Ministers also welcomed Australia’s decision to extend support for training Ukrainian personnel under Operation Interflex, through Operation Kudu, to the end of 2026. Australia and the UK will also continue to work closely together to share insights and observations from the conflict.

49 . Ministers reiterated their nations’ continued investment in the Five Power Defence Arrangements (FPDA) as a unique multilateral arrangement that plays a constructive role in building habits of cooperation and enhancing the warfighting capabilities of its members. They look forward to Exercise Bersama Lima 2025 which will feature high-end warfighting serials and next-generation assets such as Australia’s F-35s and the UK’s Carrier Strike Group.

50 . Ministers affirmed their shared ambition to conduct a bilateral defence industry dialogue at both the Senior Official and Ministerial levels, providing a forum to deepen defence industry collaboration, enhance joint capability development, and cooperate on procurement reform to ensure improved efficiency in capability acquisition and sustainment.

51 . Ministers agreed to deepen cooperation on using Active Electronically Scanned Array (AESA) radar technology in both nations. This includes exploring the potential of using Australian AESA radar technologies for UK integrated air and missile defence applications. They agreed to undertake a series of targeted risk reduction activities in the near future to inform future decisions.”

52 . Ministers agreed to progress personnel exchanges that support the future combat effectiveness of the Australian Hunter Class and British Type 26 Frigates. To support the introduction of these platforms into service, the RAN and RN will undertake a series of maritime platform familiarisation activities that enable our people to gain experience in critical capabilities, including underwater and above water weapon systems, primary acoustical intelligence analysis, and overall signature management.

53 . Ministers agreed to strengthen their sovereign defence industries through closer collaboration between the UK’s Complex Weapons Pipeline and Australia’s Guided Weapons and Explosive Ordnance Enterprise. As a first step the Ministers announced a collaborative effort to develop modular, low cost components for next-generation weapon systems.

54 . Ministers acknowledged the shared legacy and the contribution of veterans to the bilateral relationship. They reaffirmed their commitment to identify avenues for closer collaboration on improving veterans’ health and transition services.

Partnering on trade, climate and energy

55 . Ministers agreed to work closely to safeguard and strengthen the role that free and fair trade and the rules-based multilateral trading system plays in economic prosperity and building resilience against economic shocks.

56 . Ministers reaffirmed the importance of the rules-based multilateral trading system, with the World Trade Organization (WTO) at its core, to economic security and prosperity. Ministers agreed to deepen cooperation to reform and reposition the Organization, and the broader global trading system, to meet the trade challenges of the new economic and geopolitical environment. Ministers agreed to continue working together to overcome blockages in multilateral rulemaking, including by working in smaller and more agile plurilateral groupings to address contemporary challenges, such as non-market policies and practices, which could complement ongoing multilateral efforts. They welcomed cooperation on plurilateral rulemaking, including efforts to have the E-Commerce Agreement incorporated into WTO architecture and brought into force as soon as possible. They reaffirmed the importance of restoring a fully-functioning dispute settlement system as soon as possible, welcoming the UK’s decision to join the Multi-Party Interim Appeal Arbitration Arrangement (MPIA) while our countries work to fix the system.

57 . Ministers welcomed the entry into force of the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in December 2024 and welcomed Australia as 2025 Chair. Ministers affirmed the need to work cooperatively together to ensure the CPTPP remains high standard and fit-for-purpose in addressing evolving challenges through continued progress on the CPTPP General Review and expansion of the membership. They looked forward to planned CPTPP trade and investment dialogues with the EU and with ASEAN.

58 . Ministers welcomed the second meeting of the Australia-United Kingdom Free Trade Agreement (A-UKFTA) Joint Committee on 3 June which celebrated the strong and growing trade and investment relationship between the UK and Australia and the strong uptake of the agreement’s benefits.

59 . Ministers welcomed close engagement on economic security under the annual United Kingdom-Australia Economic Security Dialogue, noting that its establishment by AUKMIN in 2023 was timely in preparing for future needs. They reflected on the closer integration of our analysis capabilities and committed to a joint-funded track 1.5 to generate practical insights and informal policy dialogue that will inform our joint economic security efforts.

60 . As both countries continue to develop their bilateral partnership through the UK-Australia FTA, the Economic Security Dialogue, and other fora, Ministers committed to deepening cooperation in key sectors of mutual interest. Ministers view this as an opportunity to explore new areas of collaboration and share best practices in the interests of boosting bilateral trade and investment, facilitating innovation and research, and supporting our mutual economic security and resilience. This year, officials in relevant departments will compare approaches with the aim to identify areas of common interest or complementary strength and discuss further opportunities for related cooperation. This may include initiatives to advance supply chain resilience, frontier research, investment promotion, public finance cooperation, and effective regulation.

61 . Ministers affirmed the calls in the Global Stocktake under the Paris Agreement for countries to come forward in their next NDCs with ambitious emissions reduction targets aligned with keeping 1.5 degrees within reach. In that context, Ministers recognised the immense economic opportunities in ambitious climate action and a rapid transition to renewable energy. Ministers welcomed the UK’s ambitious NDC and looked forward to Australia’s NDC and Net-Zero Plan. Ministers further welcomed the report released by the UN Secretary General titled ‘Seizing the Moment of Opportunity: Supercharging the new energy era of renewables, efficiency, and electrification’ that highlighted the compelling economic case for the rapidly declining cost of renewable energy, and the rapidly growing role of the clean energy economy in powering jobs and economic growth. Ministers affirmed their determination to fulfil multilateral climate commitments and reiterated the importance of reforming the finance system and improving access to climate finance for developing countries. Ministers recommitted to building nature-positive economies to support a central theme of Brazil’s COP Presidency. The UK reiterated its support for Australia’s bid to host COP31 in partnership with the Pacific and expressed the hope that a decision would soon be reached. Ministers welcomed UK sharing its hosting experience and agreed to explore secondments to support COP31 planning. The UK and Australia welcome the close collaboration between our countries in the Intergovernmental Negotiating Committee (INC) negotiations for an international legally binding instrument on plastic pollution, including through our shared membership of the High Ambition Coalition to End Plastic Pollution. At this critical juncture ahead of INC-5.2, the final opportunity to secure an agreement, we call upon all members of the INC to recommit to working constructively to achieve an effective comprehensive agreement that addresses the full lifecycle of plastic. We recognise that Commonwealth countries are particularly affected by plastic pollution and in that regard we renew our commitment to collaborating through the Commonwealth Clean Ocean Alliance, to tackle plastic pollution in the commonwealth. Ministers pledged to deepen collaboration through the UK-Australia Climate and Clean Energy Partnership.

62 . Ministers welcomed close cooperation to support the development of resilient critical mineral supply chains governed by market principles. This includes developing a roadmap to promote a standards-based market to reflect the real costs of responsible production, processing and trade of critical minerals as agreed at the recent G7 meeting on 17 June. Ministers agreed upon the importance of the sustainable and responsible extraction and processing of critical minerals for the energy transition, and committed to working together on solutions. These include the new Critical Minerals Supply Finance developed by UK Export Finance (UKEF) which can provide finance support to overseas critical minerals projects that supply the UK’s high-growth sectors. UKEF has up to £5bn in finance support available for projects in Australia and will work closely with Export Finance Australia. Ministers also undertook to ensure the UK is consulted on the design and implementation of Australia’s Critical Minerals Strategic Reserve.

63 . Ministers discussed the leading roles being played by Australia and the UK in the full and effective implementation of the Biodiversity Beyond National Jurisdiction (BBNJ) Agreement welcoming in particular Australia’s role as Co-Chair of the Preparatory Commission. Ministers were encouraged by each country’s progress towards ratification of the treaty, which is a landmark agreement for protection of the world’s ocean.

64 . Ministers discussed the increasing geostrategic, climatic, and resource pressures on the Antarctic and Southern Ocean region and reaffirmed their shared and long-standing commitment to the Antarctic Treaty System (ATS). Ministers committed to upholding together the ATS rules and norms of peaceful use, scientific research, international cooperation and environmental protection, and to deepen understanding of the impact of climate change on the oceans and the world through Antarctic research including in the context of the International Polar Year of 2032/33. Ministers welcomed the United Kingdom’s chairing of CCAMLR for 2024-5 and 2025-6.

65 . Ministers agreed on the importance of ensuring all children have the right to grow up in a safe and nurturing family environment. Ministers recognised the transformative impact on children’s health, capacity to learn and economic prospects that growing up in a family-based environment can have. Ministers acknowledged the UK’s Global Campaign on Children’s Care Reform and agreed to work together to drive international awareness and demonstrate their commitment to children’s care reform.

66 . Ministers reiterated their commitment to upholding shared values and continuing to invest in sustainable development, gender equality, disability equity and social inclusion, which underpin global prosperity. To support sustainable development, Ministers agreed to deepen cooperation with emerging donors of development assistance, to diversify funding, enhance development effectiveness, share lessons and build trust and transparency with partners. Ministers committed to work together to deliver sustainable solutions for Small Island Developing States (SIDS), recognising their unique vulnerabilities and to ensure meaningful engagement in international processes, including ODA graduation.

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Updates to this page

Published 25 July 2025
MIL OSI United Kingdom –
July 25, 2025
MIL-OSI United Kingdom: Appointments to the Board of Royal Botanic Gardens, Kew
Source: United Kingdom – Executive Government & Departments

News story

Appointments to the Board of Royal Botanic Gardens, Kew

Three new appointments and two reappointments made
A series of appointments and reappointments have been made to the Board of Royal Botanic Gardens, Kew.

Dame Dervilla Mitchell, Dr Fiona Pathiraja and Sarah Greasley have been appointed as Trustees. Dervilla and Fiona’s four-year terms commenced on 1 July 2025. Sarah’s four-year term will commence on 1 October 2025.

Steve Almond and Kate Priestman have been reappointed as Trustees for a second term of four years from 2 October 2025 to 1 October 2029.

These appointments have been made in accordance with the Governance Code on Public Appointments published by the Cabinet Office. All appointments are made on merit and political activity plays no part in the selection process.

Biographies

Dame Dervilla Mitchell

Dervilla is an experience engineering leader who has been involved in significant infrastructure programmes at Heathrow, Dublin and Abu Dhabi airports. She has also led the design of a range of new build and renovation projects in different sectors. She spent the majority of her career at Arup, a trust-owned organisation, latterly serving as Global Deputy Chair and Ethics Director.

She became involved in the decarbonisation agenda whilst a member of the Council for Science and Technology and subsequently took on the role of Chair of the National Engineering Policy Centre’s decarbonisation working group. Her non-executive experience has been gained through Trustee roles as Vice President of the Royal Academy of Engineering and serving as a school governor at three different girls’ schools in London.

She was awarded a DBE for Services to Engineering in 2024, having previously received a CBE in 2014. She has received Honorary Doctorates from University College Dublin, as well as Imperial College London, where she now sits on the Industry Advisory Board for the Department of Civil and Environmental Engineering.

Dr Fiona Pathiraja

Fiona is an investor and philanthropist. She is Managing Partner of Crista Galli Ventures, a pan-European healthtech venture capital firm. She serves on several boards and is currently a trustee of the Royal College of Physicians and the Royal College of Arts. Fiona leads philanthropic endeavours at IPQ Capital, her Family Office, and is vice-chair of London Business School’s fundraising board.

A former NHS consultant radiologist at University College London Hospital, Fiona has held a range of strategic and leadership roles across healthcare, including Clinical Advisor to the Department of Health and Social Care. She is a Fellow of the Royal College of Radiologists, a Member of the Faculty of Public Health, and holds Master of Business Administration and Master of Public Health degrees. Fiona is an advocate for greater diversity in technology and investment.

Sarah Greasley

Sarah is an accomplished technology leader with more than 40 years’ expertise working in both the technology and financial services industries. She was Solutions Architecture Director for Europe, Middle East and Africa at Amazon Web Services, and prior to that, she was Group Chief Technology Officer at Direct Line Group and a Distinguished Engineer at IBM. She has a broad range of leadership experience across new technologies, strategy, risk and resilience. She also has a strong focus on increasing diversity, equity and inclusion.

She has a degree in Mathematics from the University of Cambridge and is a Chartered Fellow of the British Computing Society, as well as a Fellow of the Institute of Engineering and Technology. Sarah is a Trustee of the British Exploring Society and a Governor at Charterhouse School.

Steve Almond

After obtaining a BA in History at Royal Holloway College, University of London, Steve trained as a Chartered Accountant at Deloitte and spent much of his career there as an Audit Partner specialising in the financial services industry. He worked in a variety of roles for 16 years on the Deloitte UK Executive and, concurrently, eight years on the Global Executive. He has a wealth of experience advising large company boards and audit committees and served for 10 years on the board of Deloitte UK. In 2011, he was elected Chairman of Deloitte’s Global Board. In that capacity, he represented Deloitte on various external bodies, including the Accounting for Sustainability Advisory Board; International Integrated Reporting Council; Social Progress Index Advisory Board; and the World Business Council for Sustainable Development.

Kate Priestman

Kate has worked in the biopharma industry for over 25 years and is currently Chief Corporate and External Affairs Officer at CSL. Before joining CSL, Kate served as Senior Vice-President of R&D Strategy and Portfolio at GlaxoSmithKline, focused on the development of transformational medicines and vaccines. Kate also serves as a Non-Executive Director at Oxford Nanopore Technologies PLC. Kate’s career has spanned roles in commercial, corporate governance, communications and government affairs, following an early career at the BBC as a presenter and documentary maker. In her spare time, Kate is an artist and creator of a popular design blog; her work inspired an installation in the Chicago Botanic Garden in 2016 and is used in schools as part of the creative arts curriculum.

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Published 25 July 2025
MIL OSI United Kingdom –
July 25, 2025
MIL-OSI Africa: 2026 Gauteng School admission process garners over 213 000 applications

Source: Government of South Africa

Gauteng MEC for Education Matome Chiloane has announced that more than 213 000 online applications for Grade 1 and Grade 8 learners were successfully processed by 1pm when the 2026 online admissions process officially opened.

The online admissions application period for Grade 1 and Grade 8 in Gauteng officially commenced on Thursday at 8am and within the first hour alone, the system had recorded a total of 78 645 Grade 1 and Grade 8 applications.

The department said this translates to 32 584 Grade 1 applications and 46 061 Grade 8 applications recorded within the first hour. By 1pm, this number had risen to 213 654 successfully processed applications, including 93 042 Grade 1 and 120 612 Grade 8 applications.

As part of the start of the much-anticipated application period, MEC Chiloane led the official Switch-On at the YMCA in Ga-Rankuwa on Thursday morning, where he assisted parents and guardians in navigating the online application process.

“Significantly, over 40 000 users were already attempting to access the system even before the official opening time of 8am, with some starting as early as 5am. This early surge caused temporary delays for some users, who had to refresh the page before gaining access once the system went live.

“We therefore urge parents and guardians in future to refrain from trying to log in before the official start time, to avoid unnecessary access issues. The 2026 Online Admissions application window will remain open until 29 August 2025,” the Gauteng Department of Education (GDE) said.

READ | 2026 Gauteng School admission process begins

Parents and guardians can apply by visiting www.gdeadmissions.gov.za. Required documents must be uploaded on the system or submitted directly to the schools applied to, within seven school days of applying.

Parents requiring help can visit their nearest District Office or one of the 81 Decentralised Walk-in Centres across Gauteng. The GDE Call Centre is also available at 0800 000 789, or via WhatsApp at 060 891 0361.

“We are proud of this monumental achievement, processing such a high number of applications on the first day. This success reflects the improvements made to the system, which operated smoothly overall, despite a brief delay experienced by users who tried accessing the site before it officially opened.

“We encourage parents not to panic. The system will remain open until 29 August, giving ample time to apply,” said the MEC. – SAnews.gov.za

MIL OSI Africa –

July 25, 2025
MIL-OSI Africa: Her Excellency (H.E.) Bridget Motsepe-Radebe to Headline WomenIN Festival 2025 as Keynote Speaker

Source: APO

The WomenIN (WiN) (www.WeAreWomenIN.com) Festival is proud to announce Her Excellency Bridget Motsepe-Radebe, Chairman & Founder of Mmakau Mining and Ambassador for Economic Development at the Pan-African Parliament, as the official keynote speaker for the highly anticipated WomenIN Festival 2025, taking place from 13–14 November 2025 in Cape Town, South Africa.

Renowned for her bold leadership, advocacy for gender and economic equality, and trailblazing legacy in the mining sector, H.E. Motsepe-Radebe has consistently broken barriers and redefined power and influence on the continent. Her presence at this year’s festival is set to ignite conversations, inspire generations, and elevate the mission of WomenIN — to connect, empower, and celebrate women across industries and borders.

“Having H.E. Bridget Motsepe-Radebe headline this year’s WomenIN Festival is a full-circle moment for so many of us,” says Naz Fredericks Maharaj, Director of the WomenIN Portfolio. “She is a living symbol of what it means to lead with both courage and conviction. Her voice reflects the essence of this year’s theme — Limitless. No Labels. No Limits. No Apologies. We are honoured to welcome her to the stage, and even more excited for what her message will unlock in every woman attending this year’s festival.”

The WomenIN Festival brings together women leaders, entrepreneurs, creatives, and changemakers from diverse sectors including mining, energy, mobility, finance, fashion, media, and the green economy. With a curated program of thought-provoking dialogues, fireside chats, capacity-building sessions, live activations, and power networking, the festival is a movement — not just a moment.

This keynote announcement marks the first of many exciting speaker and program reveals as the WomenIN team rolls out its boldest edition yet.

Tickets are officially on sale — reserve your seat and be part of a movement that’s shaking the world:

Visit www.WeAreWomenIN.com to get your ticket, sponsor someone else’s, or explore partnership opportunities.

Come as you are. Leave ignited.

Distributed by APO Group on behalf of VUKA Group.

Additional Links:
Website: www.WeAreWomenIN.com
Link to tickets : https://apo-opa.co/450gy1h

WomenIN (WiN): Empowering Women, Breaking Barriers, Creating Impact
WomenIN is a powerful cross-sector movement that connects, inspires, and uplifts women across Africa through collaboration, leadership, and sustainable development. From energy and mobility to retail, gaming, and the green economy, WiN is driving real change by building inclusive ecosystems where women can thrive.

Through a range of in-person gatherings, digital content, workshops, and sector-specific initiatives, WomenIN provides a trusted platform for female professionals, entrepreneurs, changemakers, and allies to grow together, break silos, and co-create solutions for Africa’s future. With a strong focus on capacity building, leadership development, and market access for female-owned businesses, WomenIN is building a legacy of impact for generations to come.

Whether you’re a corporate, NPO, SMME, or individual changemaker, there is space for you at the table—because we win when we WiN together.

For more information, please visit: www.WeAreWomenIN.com or contact our team at info@wearewomenin.com.

ABOUT VUKA Group:
VUKA Group brings people and organisations together to connect with information and each other in meaningful conversations that drive growth and transformation across Africa’s industries. With 20+ years of experience on the continent, the group delivers sector-leading platforms across Energy, Mining, Smart Mobility, Transport, Retail, and Women Empowerment.

The WomenIN (WiN) portfolio is a flagship initiative of VUKA Group, championing gender inclusivity and creating opportunities for women to lead, influence, and innovate across sectors. With a proudly African team and a commitment to sustainable development, VUKA is creating a future where everyone has the opportunity to rise.

Learn more at: www.WeAreWomenIN.com

Media files

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MIL OSI Africa –

July 25, 2025
MIL-OSI Africa: The Gambia: African Development Fund Approves $19.93 Million Grant to Tackle Fragility and Expand Opportunities for Rural Youth and Women

Source: APO

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved $19.93 million grant funding for the Resilience Building – Vulnerable Youth and Women Support Project, designed to improve access to basic social services for underserved communities in The Gambia.

The initiative seeks to address the root causes of poverty and irregular migration by creating sustainable livelihoods and tackling early signs of fragility and preventing structural drivers of conflict and instability in the targeted region. It forms part of the Bank’s scaled-up prevention agenda under the Prevention Envelope of the Transition Support Facility (TSF), which emphasizes early response to fragility risks and systematic drivers of conflict.

The Gambia faces severe economic challenges, with 53.4% of the population living below the poverty line. Poverty is particularly severe in rural areas, affecting 76 percent of residents, compared to 34 percent in urban areas. Youth unemployment stands at 38.6%, with women disproportionately impacted — 1.3 unemployed women for every unemployed man. These socio-economic disparities, coupled with limited access to services, are major push factors fuelling irregular migration and social instability.

Although the country has achieved robust electricity access nationwide, glaring regional inequalities persist. In areas such as Kuntaur and Janjanbureh, fewer than one in four people have access to electricity, compared to 95 percent in the capital. Additionally, one in four children suffers from malnutrition. By targeting these gaps, the project aims to renew the social contract and foster community resilience.

“This project represents our commitment to tackling the foundational causes of fragility, poverty, exclusion, and lack of opportunity, by investing in people and systems that build community resilience and hope,” said Dr. Joseph Ribeiro, African Development Bank Deputy Director General for West Africa, and Country Manager for The Gambia. “Through the TSF Prevention Envelope, we are acting early to prevent conflict and youth migration by fostering inclusive growth, gender equality, and institutional stability, while building foundations for sustainable livelihoods that will keep families and communities together.”

The project will directly create 1,500 jobs, enhance productivity for 5,000 existing positions, and provide annual skills training to 500 youth in high-demand sectors such as agriculture, engineering, ICT, and renewable energy. In addition, support will be extended to 500 women-led micro and small enterprises and 50 women’s cooperatives.

Key investments in health infrastructure will include rehabilitating four primary health facilities vulnerable regions, including Basse, Kuntaur, and Janjanbureh, where maternal mortality and child malnutrition rates exceed national averages. Enhanced nutrition surveillance systems will enable early detection for 22,000 children and facilitate treatment for 1,000 children requiring specialized care.

Food insecurity has surged, rising from 13.4 percent in 2021 to 29 percent in 2023, with peaks of 61 percent in areas such as Kuntaur. The project will address this crisis by promoting climate-smart agriculture and strengthening local values chains to improve food security and reduce vulnerability to climate shocks.

Financial inclusion is a core pillar of the intervention. With 77 percent of Gambian youth currently excluded from formal financial services, the project will establish dedicated credit lines and provide business development support to unlock entrepreneurship, particularly for women who face systemic barriers to accessing capital and markets.

The initiative also includes scaling up efforts to tackle gender-based violence and inequality, and capacity-building for government institutions to enhance data-driven policymaking and long-term monitoring of fragility trends.

Civil society organisations, including the Association of Non-Governmental Organizations (TANGO), will be central to ensuring the project is inclusive, participatory, and aligned with national priorities.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media Contact:
Natalie Nkembuh,
Communication and Media Relations Department
media@afdb.org

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

Media files

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MIL OSI Africa –

July 25, 2025
MIL-OSI: Bitcoin Swift Presale Enters Final 24 Hours of Stage 1 with Token Fixed at $1
Source: GlobeNewswire (MIL-OSI)

Stage 2 Will Introduce Price Increase and APY Adjustment as Project Prepares for Solana Deployment and AI-Driven Governance Rollout

LUXEMBOURG, July 25, 2025 (GLOBE NEWSWIRE) — Bitcoin Swift (BTC3), a new decentralized infrastructure protocol focused on AI automation, privacy-first identity, and programmable staking, has officially entered the final 24 hours of its Stage 1 presale. During this period, the token remains available at a fixed price of $1.00 with an annual percentage yield (APY) of 143%, set to adjust at the start of Stage 2. The full presale is scheduled to conclude on September 18, 2025, with a planned launch price of $15.00.

The limited-time window marks the last opportunity for early participants to gain access to the Bitcoin Swift ecosystem at its initial entry point. Stage 2 of the presale will begin with a 100% price increase and rebalanced staking terms aligned with the protocol’s Proof-of-Yield (PoY) mechanism.

Building a Programmable Financial Layer

Bitcoin Swift is introducing what it describes as a “programmable financial operating system” — integrating AI-powered smart contracts, zk-SNARK privacy layers, and decentralized identity for user-based governance.

Rather than limiting functionality to post-launch phases, BTC3 is designed to allow token holders to interact with key protocol features during the presale itself. Users are able to stake tokens, participate in AI-curated governance decisions, and engage with beta smart contract modules backed by federated AI oracles.

The platform utilizes a hybrid proof-of-work and proof-of-stake (PoW/PoS) consensus layer while incorporating AI oversight to enhance consensus efficiency and reward accuracy. Its modular design allows Bitcoin Swift to evolve as user behavior and network activity scale.

Security and Compliance

Bitcoin Swift has completed KYC verification for its core development team and has undergone audits by both Spywolf and Solidproof. According to project documentation, these evaluations assessed smart contract integrity, tokenomics security, and compliance readiness. A detailed audit summary is available on the Bitcoin Swift website.

Upcoming Milestones on the Roadmap

The Bitcoin Swift roadmap includes a staged rollout with the following key deliverables:
- Q3–Q4 2025: Launch on Solana network; activation of Proof-of-Yield (PoY) rewards and presale utility access
- Q1 2026: Integration of reinforcement learning modules into the smart contract engine
- Q2 2026: Deployment of zk-ledger privacy infrastructure and beta release of shielded DeFi tools
- Q3 2026: Activation of full DAO governance structure with AI-powered voting simulator
- Q4 2026: Migration from Solana to native BTC3 chain through trustless 1:1 bridge and institutional onboarding
Each phase represents a tangible product or infrastructure milestone with scheduled delivery dates. The current presale period enables community participation ahead of full mainnet deployment.

Community and Ecosystem Growth

Since the start of the presale, Bitcoin Swift has seen growing community engagement on its governance forums and social platforms. The protocol’s on-chain identity framework enables quadratic voting — a mechanism where governance influence is weighted by user reputation and verified credentials, rather than token quantity alone.

The early traction reflects broader industry interest in decentralized ecosystems that offer programmable value accrual mechanisms and built-in security frameworks. The Proof-of-Yield (PoY) model distributes staking rewards at the close of each presale stage, incentivizing long-term engagement.

Time-Sensitive Participation Window

With Stage 1 concluding in less than 24 hours, the Bitcoin Swift presale is entering its first major transition point. Following this window, the token price will double to $2.00, and staking APY will be recalculated based on the updated tokenomics schedule. Only 64 total days have been allocated for the presale, with a hard stop date of September 18, 2025.

The protocol’s structure offers early participants real-time access to evolving features, rather than requiring them to wait for mainnet activation. This model has attracted interest from a range of developers, users, and prospective governance delegates.

About Bitcoin Swift

Bitcoin Swift (BTC3) is a decentralized platform combining AI, privacy technology, and on-chain governance to create a scalable and adaptable financial protocol. It is built with a modular framework that supports programmable smart contracts, zk-SNARK privacy features, and a hybrid consensus mechanism optimized for real-world utility.

The presale is currently live, with details, documentation, and roadmap updates available on the official website.

For more information, visit:
https://bitcoinswift.com

Contact:
Luc Schaus
support@bitcoinswift.com

Disclaimer: This content is provided by Bitcoin Swift. 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.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/2262bfc1-38f1-4d98-9143-e444e8838e3e

https://www.globenewswire.com/NewsRoom/AttachmentNg/1150a950-2f95-4a97-bcc8-4be8bc637e63

https://www.globenewswire.com/NewsRoom/AttachmentNg/1e943815-e52c-49ff-a5c2-d77949a0ec3e

The MIL Network –
July 25, 2025
MIL-OSI China: Internet industry conference shines light on future development

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

The opening ceremony of the 24th China Internet Conference in Beijing, July 23, 2025. [Photo by Liu Sitong/China.org.cn]

The 24th China Internet Conference opened in Beijing on July 23, with industry experts gathering to share their thoughts on the development and future of the internet sector.

At the event’s opening ceremony, Wu Hequan, former vice president of the Chinese Academy of Engineering, said the internet sector has entered an era of development driven by artificial intelligence (AI). As such, he said that the industry should rely on AI agents, instead of generative AI, to create new application scenarios in order to realize commercial success.

Wu added that “AI for Internet” and “Internet for AI” will empower new quality productive forces and drive the transformation of business formats; however, related applications still require further innovations in technology and to business models.

Tang Ke, deputy general manager of China Telecom, spoke about the profound upgrading of AI-related computing power, data, algorithms, applications and security technology amid the new round of sci-tech revolution and industrial transformation that has reshaped the industrial ecosystem.

To ride this trend, Tang explained that China Telecom has been innovating technologies and fully developing its strength in AI. In addition, the company is building smart cloud capabilities, exploring computing power coordination to improve efficiency, and enriching AI applications while ensuring security.

Cheng Jianjun, vice president of China Mobile, said as a new driving force for digital economy, computing power has been growing faster than they could have been imagined. He explained that the company has so far established 13 smart computing centers and are currently building several super-large smart computing centers.

He added that the company has also invested in quantum technology, including a quantum computing cloud platform that has connected 500 universities and colleges and incubated a dozen enterprises. Meanwhile, to serve the development of low-altitude economy, the company is building a digital infrastructure network enabling integrated sensing and communication.

Hao Liqian, deputy general manager of China Unicom, spoke about his company’s efforts to accelerate the integrated development of computing power, network, digital technology and large-scale models, and their focus on offering AI services that are convenient, efficient, practical, safe and inclusive. By innovating services, the company has also helped various regions such as Beijing and Chongqing to upgrade their government service hotlines to go smart.

Zhu Zheng, senior vice president and chief development officer of the popular e-commerce company Pinduoduo, introduced a program they launched in April. The company plans to invest 100-billion-yuan worth of resources over the next three years to improve the e-commerce ecosystem and help businesses on their platform transform and upgrade.

According to Zhu, the company has so far connected 1,000 agricultural areas and helped 16 million agricultural workers to participate in the digital economy. Meanwhile, the firm also provides digital services for manufacturing enterprises regarding product design and development, production and branding.

Gao Ji, chief executive officer of Chinese semiconductor provider HiSilicon, said that the audio video industry is highly relevant to the development of the internet sector. The company aims to provide an improved consumer experience with audio and video products.

Han Yonggang, vice president of China’s leading cybersecurity company QAX, said the company has aligned cybersecurity capabilities with digital development. He said that AI security means ensuring safe use of AI technology as well as using AI as a new driving force to enhance our security capabilities. He called for cybersecurity management and technology to be better connected, ensuring cybersecurity management with systematic technical support.

The China Internet Conference was organized by the Internet Society of China and will run until July 25.

MIL OSI China News –

July 25, 2025
MIL-OSI: Stage 8 Presale Live for EVM Layer 2 Meme Coin Little Pepe, With Over $12M Raised in Total

Source: GlobeNewswire (MIL-OSI)

DUBAI, United Arab Emirates, July 25, 2025 (GLOBE NEWSWIRE) — Little Pepe (LILPEPE) is redefining what meme coins can accomplish in 2025. Built on an Ethereum Virtual Machine (EVM)-compatible Layer 2 community, this rapidly rising meme token has formally entered stage 8 of its presale. Priced at $0.0017, the latest stage follows a major milestone: over $12 million raised and more than 8.5 billion tokens sold so far. These numbers are turning heads across the crypto area, signaling both strong investor confidence and a brand-new wave of demand for meme coins that blend utility with viral culture.

While many meme coins rely completely on internet hype and celebrity-pushed buzz, Little Pepe sticks out by way of turning in a scalable infrastructure built for long-term use. Its success in investment rounds and engaged network endorse that it can turn out to be one of the standout meme projects of the year.

Layer 2 Power Meets Meme Energy

What makes Little Pepe different is its Ethereum Layer 2 foundation, a crucial advancement that enhances the project’s overall utility and user experience. By operating on a Layer 2 chain, $LILPEPE can offer key benefits such as Lower transaction fees, Faster execution times, Reduced network congestion, and Ethereum-level security

For users tired of expensive gas fees and slow transactions, Little Pepe’s infrastructure offers a welcome alternative. The EVM compatibility ensures seamless integration with existing Ethereum dApps and tools, increasing accessibility for developers and investors alike.

This tech-forward approach gives Little Pepe a critical edge. While meme coins are typically seen as speculative, $LILPEPE is being increasingly viewed as a platform in development—a token with the architecture to support real-world applications in the near future.

Over $12 Million Raised—and Counting

Little Pepe’s presale has already crossed the $12 million mark, showcasing serious interest from retail and possibly even institutional investors. With each stage offering a higher price, whale investors have already seen the value of their holdings increase, reinforcing confidence in the project’s long-term prospects.

More than 8.5 billion tokens have been sold, showing rapid and sustained interest as the presale progresses. Unlike many projects that struggle to maintain attention beyond initial hype, Little Pepe is building momentum with each passing week. The pace of this funding also indicates growing demand for Ethereum-based meme coins that offer something more. Investors aren’t just betting on humor—they’re betting on blockchain performance, future integrations, and scalability.

Stage 8: A Crucial Presale Chapter

Stage 8 marks a critical moment in the presale journey. At $0.0017, the current token price reflects the project’s rising profile and strong community support. As Little Pepe gets closer to potential exchange listings, this stage may represent one of the final opportunities for whale investors to secure a favorable entry point.

Interest in Stage 8 is already climbing, mirroring the energy seen in previous rounds. With such a strong funding record and an increasingly global presence, it’s likely that this stage will sell out quickly—especially as the project approaches a broader marketing push and public launch.

As presale stages progress, each phase tends to close faster than the last. Investors following the project closely are now eyeing Stage 8 as a key moment to get in before $LILPEPE becomes more widely available.

About Little Pepe

Little Pepe is a next-gen Layer 2 blockchain designed to merge meme culture with high-speed, low-cost decentralized infrastructure. Built for scalability, security, and accessibility, Little Pepe supports EVM-compatible applications and is powered by means of the $LILPEPE token. The project’s mission is to create a meme coin environment wherein utility meets virality, empowering users through cutting-edge technology and lightning-fast transactions.

For more information:

Website: https://littlepepe.com/

Telegram: https://t.me/littlepepetoken

Twitter: https://x.com/littlepepetoken

Contact Details: COO- James Stephen Email: media@littlepepe.com

Disclaimer: This content is provided by Little Pepe. 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.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6e74c864-def7-475a-a4cf-261380ce4586

The MIL Network –

July 25, 2025
India successfully tests UAV-Launched Precision Guided Missile in Andhra Pradesh

Source: Government of India

Source: Government of India (4)

In a boost to India’s indigenous defence capabilities, the Defence Research and Development Organisation (DRDO) on Friday successfully conducted flight trials of the UAV-Launched Precision-Guided Missile (ULPGM)-V3 at the National Open Area Range (NOAR) in Kurnool, Andhra Pradesh.

In a post on X, Defence Minister Rajnath Singh announced the achievement, “In a major boost to India’s defence capabilities, DRDO has successfully carried out flight trials of UAV Launched Precision Guided Missile (ULPGM)-V3 in the National Open Area Range (NOAR), test range in Kurnool, Andhra Pradesh. Congratulations to DRDO and the industry partners, DcPPs, MSMEs and Start-ups for the development and successful trials of the ULPGM-V3 system. This success proves that the Indian industry is now ready to absorb and produce critical Defence Technologies.”

While detailed specifications of the ULPGM-V3 remain classified, its development reflects a strategic progression in India’s guided missile programme. The earlier ULPGM-V2, developed by DRDO’s Terminal Ballistics Research Laboratory (TBRL), featured multiple warhead configurations. The V3 variant, believed to incorporate advanced features such as imaging infrared (IIR) seekers and dual-thrust propulsion systems, builds on this legacy and was previewed during Aero India 2025.

The successful trial underscores India’s growing emphasis on unmanned precision-strike capabilities – an essential element of modern warfare. ULPGM systems are designed to be lightweight, highly accurate, and compatible with a range of aerial platforms, offering critical operational flexibility in dynamic combat environments.

The choice of NOAR in Kurnool for the trial aligns with DRDO’s strategy of leveraging this facility to test advanced technologies. In recent months, the range has hosted successful trials of high-energy laser-based Directed Energy Weapons (DEWs), including systems that neutralized fixed-wing UAVs and swarm drones – highlighting India’s expanding high-tech defence testing infrastructure.

(IANS)

July 25, 2025
MIL-OSI Russia: 166 trucks with humanitarian aid entered Gaza overnight – Egyptian source

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

CAIRO, July 25 (Xinhua) — About 166 trucks carrying humanitarian aid entered the Gaza Strip on the night from Wednesday to Thursday, Egyptian Al-Qahira Al-Ikhbariya TV reported, citing an anonymous source in the security forces.

According to him, trucks carrying humanitarian aid entered the besieged enclave through the Zikim and Kerem Shalom /Kerem Abu Salem/ border crossings.

The aid shipment included flour, food and medicine, the source said. “Egypt has stepped up its efforts with all international parties to deliver more aid to the Gaza Strip during this period,” he added.

The humanitarian situation in the Palestinian enclave continues to deteriorate, with Israel cutting off supplies and food to Gaza after the first phase of the ceasefire agreement with Hamas expired in January.

The UN Office for the Coordination of Humanitarian Affairs (OCHA) warned on Wednesday that hunger in the sector is at its worst ever, with aid workers and those they help exhausted, aid agencies say.

A new round of indirect talks between Hamas and Israel resumed earlier this month in the Qatari capital Doha amid international efforts to end the conflict and resume humanitarian aid deliveries.

Since October 2023, the Israeli military campaign has killed more than 59,210 Palestinians in the enclave and injured more than 143,040, according to Gaza’s medical authorities. –0–

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

.

MIL OSI Russia News –

July 25, 2025
MIL-OSI Economics: ToolShell: a story of five vulnerabilities in Microsoft SharePoint
Source: Securelist – Kaspersky

Headline: ToolShell: a story of five vulnerabilities in Microsoft SharePoint

On July 19–20, 2025, various security companies and national CERTs published alerts about active exploitation of on-premise SharePoint servers. According to the reports, observed attacks did not require authentication, allowed attackers to gain full control over the infected servers, and were performed using an exploit chain of two vulnerabilities: CVE-2025-49704 and CVE-2025-49706, publicly named “ToolShell”. Additionally, on the same dates, Microsoft released out-of-band security patches for the vulnerabilities CVE-2025-53770 and CVE-2025-53771, aimed at addressing the security bypasses of previously issued fixes for CVE-2025-49704 and CVE-2025-49706. The release of the new, “proper” updates has caused confusion about exactly which vulnerabilities attackers are exploiting and whether they are using zero-day exploits.

Kaspersky products proactively detected and blocked malicious activity linked to these attacks, which allowed us to gather statistics about the timeframe and spread of this campaign. Our statistics show that widespread exploitation started on July 18, 2025, and attackers targeted servers across the world in Egypt, Jordan, Russia, Vietnam, and Zambia. Entities across multiple sectors were affected: government, finance, manufacturing, forestry, and agriculture.

While analyzing all artifacts related to these attacks, which were detected by our products and public information provided by external researchers, we found a dump of a POST request that was claimed to contain the malicious payload used in these attacks. After performing our own analysis, we were able to confirm that this dump indeed contained the malicious payload detected by our technologies, and that sending this single request to an affected SharePoint installation was enough to execute the malicious payload there.

Our analysis of the exploit showed that it did rely on vulnerabilities fixed under CVE-2025-49704 and CVE-2025-49706, but by changing just one byte in the request, we were able to bypass those fixes.

In this post, we provide detailed information about CVE-2025-49704, CVE-2025-49706, CVE-2025-53770, CVE-2025-53771, and one related vulnerability. Since the exploit code is already published online, is very easy to use, and poses a significant risk, we encourage all organizations to install the necessary updates.

The exploit

Our research started with an analysis of a POST request dump associated with this wave of attacks on SharePoint servers.

Snippet of the exploit POST request

We can see that this POST request targets the “/_layouts/15/ToolPane.aspx” endpoint and embeds two parameters: “MSOtlPn_Uri” and “MSOtlPn_DWP”. Looking at the code of ToolPane.aspx, we can see that this file itself does not contain much functionality and most of its code is located in the ToolPane class of the Microsoft.SharePoint.WebPartPages namespace in Microsoft.SharePoint.dll. Looking at this class reveals the code that works with the two parameters present in the exploit. However, accessing this endpoint under normal conditions is not possible without bypassing authentication on the attacked SharePoint server. This is where the first Microsoft SharePoint Server Spoofing Vulnerability CVE-2025-49706 comes into play.

CVE-2025-49706

This vulnerability is present in the method PostAuthenticateRequestHandler, in Microsoft.SharePoint.dll. SharePoint requires Internet Information Services (IIS) to be configured in integrated mode. In this mode, the IIS and ASP.NET authentication stages are unified. As a result, the outcome of IIS authentication is not determined until the PostAuthenticateRequest stage, at which point both the ASP.NET and IIS authentication methods have been completed. Therefore, the PostAuthenticateRequestHandler method utilizes a series of flags to track potential authentication violations. A logic bug in this method enables an authentication bypass if the “Referrer” header of the HTTP request is equal to “/_layouts/SignOut.aspx”, “/_layouts/14/SignOut.aspx”, or “/_layouts/15/SignOut.aspx” using case insensitive comparison.

Vulnerable code in PostAuthenticateRequestHandler method (Microsoft.SharePoint.dll version 16.0.10417.20018)

The code displayed in the image above handles the sign-out request and is also triggered when the sign-out page is specified as the referrer. When flag6 is set to false and flag7 is set to true, both conditional branches that could potentially throw an “Unauthorized Access” exception are bypassed.

Unauthorized access checks bypassed by the exploit

On July 8, 2025, Microsoft released an update that addressed this vulnerability by introducing additional checks to detect the usage of the “ToolPane.aspx” endpoint with the sign-out page specified as the referrer.

CVE-2025-49706 fix (Microsoft.SharePoint.dll version 16.0.10417.20027)

The added check uses case insensitive comparison to verify if the requested path ends with “ToolPane.aspx”. Is it possible to bypass this check, say, by using a different endpoint? Our testing has shown that this check can be easily bypassed.

CVE-2025-53771

We were able to successfully bypass the patch for vulnerability CVE-2025-49706 by adding just one byte to the exploit POST request. All that was required to bypass this patch was to add a “/” (slash) to the end of the requested “ToolPane.aspx” path.

Bypass for CVE-2025-49706 fix

On July 20, 2025, Microsoft released an update that fixed this bypass as CVE-2025-53771. This fix replaces the “ToolPane.aspx” check to instead check whether the requested path is in the list of paths allowed for use with the sign-out page specified as the referrer.

CVE-2025-53771 fix (Microsoft.SharePoint.dll version 16.0.10417.20037)

This allowlist includes the following paths: “/_layouts/15/SignOut.aspx”, “/_layouts/15/1033/initstrings.js”, “/_layouts/15/init.js”, “/_layouts/15/theming.js”, “/ScriptResource.axd”, “/_layouts/15/blank.js”, “/ScriptResource.axd”, “/WebResource.axd”, “/_layouts/15/1033/styles/corev15.css”, “/_layouts/15/1033/styles/error.css”, “/_layouts/15/images/favicon.ico”, “/_layouts/15/1033/strings.js”, “/_layouts/15/core.js”, and it can contain additional paths added by the administrator.

While testing the CVE-2025-49706 bypass with the July 8, 2025 updates installed on our SharePoint debugging stand, we noticed some strange behavior. Not only did the bypass of CVE-2025-49706 work, but the entire exploit chain did! But wait! Didn’t the attackers use an additional Microsoft SharePoint Remote Code Execution Vulnerability CVE-2025-49704, which was supposed to be fixed in the same update? To understand why the entire exploit chain worked in our case, let’s take a look at the vulnerability CVE-2025-49704 and how it was fixed.

CVE-2025-49704

CVE-2025-49704 is an untrusted data deserialization vulnerability that exists due to improper validation of XML content. Looking at the exploit POST request, we can see that it contains two URL encoded parameters: “MSOtlPn_Uri” and “MSOtlPn_DWP”. We can see how they are handled by examining the code of the method GetPartPreviewAndPropertiesFromMarkup in Microsoft.SharePoint.dll. A quick analysis reveals that “MSOtlPn_Uri” is a page URL that might be pointing to an any file in the CONTROLTEMPLATES folder and the parameter “MSOtlPn_DWP” contains something known as WebPart markup. This markup contains special directives that can be used to execute safe controls on a server and has a format very similar to XML.

WebPart markup used by the attackers

While this “XML” included in the “MSOtlPn_DWP” parameter does not itself contain a vulnerability, it allows attackers to instantiate the ExcelDataSet control from Microsoft.PerformancePoint.Scorecards.Client.dll with CompressedDataTable property set to malicious payload and trigger its processing using DataTable property getter.

Code of the method that handles the contents of ExcelDataSet’s CompressedDataTable property in the DataTable property getter

Looking at the code of the ExcelDataSet’s DataTable property getter in Microsoft.PerformancePoint.Scorecards.Client.dll, we find the method GetObjectFromCompressedBase64String, responsible for deserialization of CompressedDataTable property contents. The data provided as Base64 string is decoded, unzipped, and passed to the BinarySerialization.Deserialize method from Microsoft.SharePoint.dll.

DataSet with XML content exploiting CVE-2025-49704 (deserialized)

Attackers use this method to provide a malicious DataSet whose deserialized content is shown in the image above. It contains an XML with an element of dangerous type “System.Collections.Generic.List1[[System.Data.Services.Internal.ExpandedWrapper2[…], System.Data.Services, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089]]”, which allows attackers to execute arbitrary methods with the help of the well-known ExpandedWrapper technique aimed at exploitation of unsafe XML deserialization in applications based on the .NET framework. In fact, this shouldn’t be possible, since BinarySerialization.Deserialize in Microsoft.SharePoint.dll uses a special XmlValidator designed to protect against this technique by checking the types of all elements present in the provided XML and ensuring that they are on the list of allowed types. However, the exploit bypasses this check by placing the ExpandedWrapper object into the list.

Now, to find out why the exploit worked on our SharePoint debugging stand with the July 8, 2025 updates installed, let’s take a look at how this vulnerability was fixed. In this patch, Microsoft did not really fix the vulnerability but only mitigated it by adding the new AddExcelDataSetToSafeControls class to the Microsoft.SharePoint.Upgrade namespace. This class contains new code that modifies the web.config file and marks the Microsoft.PerformancePoint.Scorecards.ExcelDataSet control as unsafe. Because SharePoint does not execute this code on its own after installing updates, the only way to achieve the security effect was to manually run a configuration upgrade using the SharePoint Products Configuration Wizard tool. Notably, the security guidance for CVE-2025-49704 does not mention the need for this step, which means at least some SharePoint administrators may skip it. Meanwhile, anyone who installed this update but did not manually perform a configuration upgrade remained vulnerable.

CVE-2025-53770

On July 20, 2025, Microsoft released an update with a proper fix for the CVE-2025-49704 vulnerability. This patch introduces an updated XmlValidator that now properly validates element types in XML, preventing exploitation of this vulnerability without requiring a configuration upgrade and, more importantly, addressing the root cause and preventing exploitation of the same vulnerability through controls other than Microsoft.PerformancePoint.Scorecards.ExcelDataSet.

DataSet with XML content exploiting CVE-2025-49704 (deserialized)

CVE-2020-1147

Readers familiar with previous SharePoint exploits might feel that the vulnerability CVE-2025-49704/CVE-2025-53770 and the exploit used by the attackers looks very familiar and very similar to the older .NET Framework, SharePoint Server, and Visual Studio Remote Code Execution Vulnerability CVE-2020-1147. In fact, if we compare the exploit for CVE-2020-1147 and an exploit for CVE-2025-49704/CVE-2025-53770, we can see that they are almost identical. The only difference is that in the exploit for CVE-2025-49704/CVE-2025-53770, the dangerous ExpandedWrapper object is placed in the list. This makes CVE-2025-53770 an updated fix for CVE-2020-1147.

DataSet with XML content exploiting CVE-2020-1147

Conclusions

Despite the fact that patches for the ToolShell vulnerabilities are now available for deployment, we assess that this chain of exploits will continue being used by attackers for a long time. We have been observing the same situation with other notorious vulnerabilities, such as ProxyLogon, PrintNightmare, or EternalBlue. While they have been known for years, many threat actors still continue leveraging them in their attacks to compromise unpatched systems. We expect the ToolShell vulnerabilities to follow the same fate, as they can be exploited with extremely low effort and allow full control over the vulnerable server.

To stay better protected against threats like ToolShell, we as a community should learn lessons from previous events in the industry related to critical vulnerabilities. Specifically, the speed of applying security patches nowadays is the most important factor when it comes to fighting such vulnerabilities. Since public exploits for these dangerous vulnerabilities appear very soon after vulnerability announcements, it is paramount to install patches as soon as possible, as a gap of even a few hours can make a critical difference.

At the same time, it is important to protect enterprise networks against zero-day exploits, which can be leveraged when there is no available public patch for vulnerabilities. In this regard, it is critical to equip machines with reliable cybersecurity solutions that have proven effective in combatting ToolShell attacks before they were publicly disclosed.

Kaspersky Next with its Behaviour detection component proactively protects against exploitation of these vulnerabilities. Additionally, it is able to detect exploitation and the subsequent malicious activity.

Kaspersky products detect the exploits and malware used in these attacks with the following verdicts:
- UDS:DangerousObject.Multi.Generic
- PDM:Exploit.Win32.Generic
- PDM:Trojan.Win32.Generic
- HEUR:Trojan.MSIL.Agent.gen
- ASP.Agent.*
- PowerShell.Agent.*
MIL OSI Economics –
July 25, 2025
MIL-OSI Economics: ToolShell: a story of five vulnerabilities in Microsoft SharePoint
Source: Securelist – Kaspersky

Headline: ToolShell: a story of five vulnerabilities in Microsoft SharePoint

On July 19–20, 2025, various security companies and national CERTs published alerts about active exploitation of on-premise SharePoint servers. According to the reports, observed attacks did not require authentication, allowed attackers to gain full control over the infected servers, and were performed using an exploit chain of two vulnerabilities: CVE-2025-49704 and CVE-2025-49706, publicly named “ToolShell”. Additionally, on the same dates, Microsoft released out-of-band security patches for the vulnerabilities CVE-2025-53770 and CVE-2025-53771, aimed at addressing the security bypasses of previously issued fixes for CVE-2025-49704 and CVE-2025-49706. The release of the new, “proper” updates has caused confusion about exactly which vulnerabilities attackers are exploiting and whether they are using zero-day exploits.

Kaspersky products proactively detected and blocked malicious activity linked to these attacks, which allowed us to gather statistics about the timeframe and spread of this campaign. Our statistics show that widespread exploitation started on July 18, 2025, and attackers targeted servers across the world in Egypt, Jordan, Russia, Vietnam, and Zambia. Entities across multiple sectors were affected: government, finance, manufacturing, forestry, and agriculture.

While analyzing all artifacts related to these attacks, which were detected by our products and public information provided by external researchers, we found a dump of a POST request that was claimed to contain the malicious payload used in these attacks. After performing our own analysis, we were able to confirm that this dump indeed contained the malicious payload detected by our technologies, and that sending this single request to an affected SharePoint installation was enough to execute the malicious payload there.

Our analysis of the exploit showed that it did rely on vulnerabilities fixed under CVE-2025-49704 and CVE-2025-49706, but by changing just one byte in the request, we were able to bypass those fixes.

In this post, we provide detailed information about CVE-2025-49704, CVE-2025-49706, CVE-2025-53770, CVE-2025-53771, and one related vulnerability. Since the exploit code is already published online, is very easy to use, and poses a significant risk, we encourage all organizations to install the necessary updates.

The exploit

Our research started with an analysis of a POST request dump associated with this wave of attacks on SharePoint servers.

Snippet of the exploit POST request

We can see that this POST request targets the “/_layouts/15/ToolPane.aspx” endpoint and embeds two parameters: “MSOtlPn_Uri” and “MSOtlPn_DWP”. Looking at the code of ToolPane.aspx, we can see that this file itself does not contain much functionality and most of its code is located in the ToolPane class of the Microsoft.SharePoint.WebPartPages namespace in Microsoft.SharePoint.dll. Looking at this class reveals the code that works with the two parameters present in the exploit. However, accessing this endpoint under normal conditions is not possible without bypassing authentication on the attacked SharePoint server. This is where the first Microsoft SharePoint Server Spoofing Vulnerability CVE-2025-49706 comes into play.

CVE-2025-49706

This vulnerability is present in the method PostAuthenticateRequestHandler, in Microsoft.SharePoint.dll. SharePoint requires Internet Information Services (IIS) to be configured in integrated mode. In this mode, the IIS and ASP.NET authentication stages are unified. As a result, the outcome of IIS authentication is not determined until the PostAuthenticateRequest stage, at which point both the ASP.NET and IIS authentication methods have been completed. Therefore, the PostAuthenticateRequestHandler method utilizes a series of flags to track potential authentication violations. A logic bug in this method enables an authentication bypass if the “Referrer” header of the HTTP request is equal to “/_layouts/SignOut.aspx”, “/_layouts/14/SignOut.aspx”, or “/_layouts/15/SignOut.aspx” using case insensitive comparison.

Vulnerable code in PostAuthenticateRequestHandler method (Microsoft.SharePoint.dll version 16.0.10417.20018)

The code displayed in the image above handles the sign-out request and is also triggered when the sign-out page is specified as the referrer. When flag6 is set to false and flag7 is set to true, both conditional branches that could potentially throw an “Unauthorized Access” exception are bypassed.

Unauthorized access checks bypassed by the exploit

On July 8, 2025, Microsoft released an update that addressed this vulnerability by introducing additional checks to detect the usage of the “ToolPane.aspx” endpoint with the sign-out page specified as the referrer.

CVE-2025-49706 fix (Microsoft.SharePoint.dll version 16.0.10417.20027)

The added check uses case insensitive comparison to verify if the requested path ends with “ToolPane.aspx”. Is it possible to bypass this check, say, by using a different endpoint? Our testing has shown that this check can be easily bypassed.

CVE-2025-53771

We were able to successfully bypass the patch for vulnerability CVE-2025-49706 by adding just one byte to the exploit POST request. All that was required to bypass this patch was to add a “/” (slash) to the end of the requested “ToolPane.aspx” path.

Bypass for CVE-2025-49706 fix

On July 20, 2025, Microsoft released an update that fixed this bypass as CVE-2025-53771. This fix replaces the “ToolPane.aspx” check to instead check whether the requested path is in the list of paths allowed for use with the sign-out page specified as the referrer.

CVE-2025-53771 fix (Microsoft.SharePoint.dll version 16.0.10417.20037)

This allowlist includes the following paths: “/_layouts/15/SignOut.aspx”, “/_layouts/15/1033/initstrings.js”, “/_layouts/15/init.js”, “/_layouts/15/theming.js”, “/ScriptResource.axd”, “/_layouts/15/blank.js”, “/ScriptResource.axd”, “/WebResource.axd”, “/_layouts/15/1033/styles/corev15.css”, “/_layouts/15/1033/styles/error.css”, “/_layouts/15/images/favicon.ico”, “/_layouts/15/1033/strings.js”, “/_layouts/15/core.js”, and it can contain additional paths added by the administrator.

While testing the CVE-2025-49706 bypass with the July 8, 2025 updates installed on our SharePoint debugging stand, we noticed some strange behavior. Not only did the bypass of CVE-2025-49706 work, but the entire exploit chain did! But wait! Didn’t the attackers use an additional Microsoft SharePoint Remote Code Execution Vulnerability CVE-2025-49704, which was supposed to be fixed in the same update? To understand why the entire exploit chain worked in our case, let’s take a look at the vulnerability CVE-2025-49704 and how it was fixed.

CVE-2025-49704

CVE-2025-49704 is an untrusted data deserialization vulnerability that exists due to improper validation of XML content. Looking at the exploit POST request, we can see that it contains two URL encoded parameters: “MSOtlPn_Uri” and “MSOtlPn_DWP”. We can see how they are handled by examining the code of the method GetPartPreviewAndPropertiesFromMarkup in Microsoft.SharePoint.dll. A quick analysis reveals that “MSOtlPn_Uri” is a page URL that might be pointing to an any file in the CONTROLTEMPLATES folder and the parameter “MSOtlPn_DWP” contains something known as WebPart markup. This markup contains special directives that can be used to execute safe controls on a server and has a format very similar to XML.

WebPart markup used by the attackers

While this “XML” included in the “MSOtlPn_DWP” parameter does not itself contain a vulnerability, it allows attackers to instantiate the ExcelDataSet control from Microsoft.PerformancePoint.Scorecards.Client.dll with CompressedDataTable property set to malicious payload and trigger its processing using DataTable property getter.

Code of the method that handles the contents of ExcelDataSet’s CompressedDataTable property in the DataTable property getter

Looking at the code of the ExcelDataSet’s DataTable property getter in Microsoft.PerformancePoint.Scorecards.Client.dll, we find the method GetObjectFromCompressedBase64String, responsible for deserialization of CompressedDataTable property contents. The data provided as Base64 string is decoded, unzipped, and passed to the BinarySerialization.Deserialize method from Microsoft.SharePoint.dll.

DataSet with XML content exploiting CVE-2025-49704 (deserialized)

Attackers use this method to provide a malicious DataSet whose deserialized content is shown in the image above. It contains an XML with an element of dangerous type “System.Collections.Generic.List1[[System.Data.Services.Internal.ExpandedWrapper2[…], System.Data.Services, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089]]”, which allows attackers to execute arbitrary methods with the help of the well-known ExpandedWrapper technique aimed at exploitation of unsafe XML deserialization in applications based on the .NET framework. In fact, this shouldn’t be possible, since BinarySerialization.Deserialize in Microsoft.SharePoint.dll uses a special XmlValidator designed to protect against this technique by checking the types of all elements present in the provided XML and ensuring that they are on the list of allowed types. However, the exploit bypasses this check by placing the ExpandedWrapper object into the list.

Now, to find out why the exploit worked on our SharePoint debugging stand with the July 8, 2025 updates installed, let’s take a look at how this vulnerability was fixed. In this patch, Microsoft did not really fix the vulnerability but only mitigated it by adding the new AddExcelDataSetToSafeControls class to the Microsoft.SharePoint.Upgrade namespace. This class contains new code that modifies the web.config file and marks the Microsoft.PerformancePoint.Scorecards.ExcelDataSet control as unsafe. Because SharePoint does not execute this code on its own after installing updates, the only way to achieve the security effect was to manually run a configuration upgrade using the SharePoint Products Configuration Wizard tool. Notably, the security guidance for CVE-2025-49704 does not mention the need for this step, which means at least some SharePoint administrators may skip it. Meanwhile, anyone who installed this update but did not manually perform a configuration upgrade remained vulnerable.

CVE-2025-53770

On July 20, 2025, Microsoft released an update with a proper fix for the CVE-2025-49704 vulnerability. This patch introduces an updated XmlValidator that now properly validates element types in XML, preventing exploitation of this vulnerability without requiring a configuration upgrade and, more importantly, addressing the root cause and preventing exploitation of the same vulnerability through controls other than Microsoft.PerformancePoint.Scorecards.ExcelDataSet.

DataSet with XML content exploiting CVE-2025-49704 (deserialized)

CVE-2020-1147

Readers familiar with previous SharePoint exploits might feel that the vulnerability CVE-2025-49704/CVE-2025-53770 and the exploit used by the attackers looks very familiar and very similar to the older .NET Framework, SharePoint Server, and Visual Studio Remote Code Execution Vulnerability CVE-2020-1147. In fact, if we compare the exploit for CVE-2020-1147 and an exploit for CVE-2025-49704/CVE-2025-53770, we can see that they are almost identical. The only difference is that in the exploit for CVE-2025-49704/CVE-2025-53770, the dangerous ExpandedWrapper object is placed in the list. This makes CVE-2025-53770 an updated fix for CVE-2020-1147.

DataSet with XML content exploiting CVE-2020-1147

Conclusions

Despite the fact that patches for the ToolShell vulnerabilities are now available for deployment, we assess that this chain of exploits will continue being used by attackers for a long time. We have been observing the same situation with other notorious vulnerabilities, such as ProxyLogon, PrintNightmare, or EternalBlue. While they have been known for years, many threat actors still continue leveraging them in their attacks to compromise unpatched systems. We expect the ToolShell vulnerabilities to follow the same fate, as they can be exploited with extremely low effort and allow full control over the vulnerable server.

To stay better protected against threats like ToolShell, we as a community should learn lessons from previous events in the industry related to critical vulnerabilities. Specifically, the speed of applying security patches nowadays is the most important factor when it comes to fighting such vulnerabilities. Since public exploits for these dangerous vulnerabilities appear very soon after vulnerability announcements, it is paramount to install patches as soon as possible, as a gap of even a few hours can make a critical difference.

At the same time, it is important to protect enterprise networks against zero-day exploits, which can be leveraged when there is no available public patch for vulnerabilities. In this regard, it is critical to equip machines with reliable cybersecurity solutions that have proven effective in combatting ToolShell attacks before they were publicly disclosed.

Kaspersky Next with its Behaviour detection component proactively protects against exploitation of these vulnerabilities. Additionally, it is able to detect exploitation and the subsequent malicious activity.

Kaspersky products detect the exploits and malware used in these attacks with the following verdicts:
- UDS:DangerousObject.Multi.Generic
- PDM:Exploit.Win32.Generic
- PDM:Trojan.Win32.Generic
- HEUR:Trojan.MSIL.Agent.gen
- ASP.Agent.*
- PowerShell.Agent.*
MIL OSI Economics –
July 25, 2025
MIL-OSI Russia: Large-scale summer school “Cryptography and information security” ended in St. Petersburg

Translation. Region: Russian Federal

Source: Novosibirsk State University –

An important disclaimer is at the bottom of this article.

For more than two weeks, “Boiling Point – St. Petersburg. GUAP” was truly “boiling”, despite the midsummer. In each of the halls, the participants of the summer school “Cryptography and Information Security” were working. The traditional event, organized by the Cryptographic Center (Novosibirsk), International Mathematical Center in Akademgorodok, this year the GUAP venue hosted the event. The summer school was held for the seventh time, it brought together more than 35 teachers and over 165 students, postgraduates and schoolchildren from 35 cities of Russia. The geography of the participants is extensive: Tver, Novosibirsk, Voronezh, Khanty-Mansiysk, Sevastopol, St. Petersburg, Moscow, Ufa, Rostov-on-Don, Tyumen, Kaliningrad and other cities of our country.

The head of the school is Natalia Tokareva, associate professor of the Department of Theoretical Cybernetics. Faculty of Mechanics and Mathematics of NSU, head of the Cryptographic Center (Novosibirsk). The organizers and partners of the summer school in 2025 were the St. Petersburg State University of Aerospace Instrumentation, Southern Federal University, Special Technology Center LLC, Practical Security Systems LLC, Infotex JSC, Enseucrypto-lab LLC and NeoQUEST. Vice-Rector for Educational Work and Youth Policy Larisa Nikolaeva and the GUAP team were responsible for the organizational issues of the large-scale event.

Participants received knowledge from leading experts in the scientific and business fields, visited key enterprises in St. Petersburg and interesting excursions, and also united through training and sports games.

The event’s partners — universities and companies working in the field of cryptography and information security — provided the summer school participants with not only new and useful knowledge, expert lectures, but also career opportunities and development prospects in the profession. The students were able to learn everything about internships and future careers in companies such as OOO Special Technology Center, OOO Systems of Practical Security, AO Infotex, OOO Enseucrypto-lab and NeoQUEST. Representatives of these organizations personally talked to the students, answered all their questions and told them what steps they should take to take their first career steps in the field of information security.

The basis of the summer school was work on projects. Divided into teams, in which scientific research was carried out under the supervision of curators, the guys were preparing to present each of the projects at the final conference. The topics of the projects touched upon various issues of modern cryptography and information security: algorithms of symmetric and asymmetric cryptography, issues of constructing cryptographic protocols for solving authentication, identification, key transfer, and messaging problems. The topics of the projects were suitable for both beginners in the field of cryptography and information security, and for advanced students who had already acquired knowledge as part of their studies.

On July 21, the summer school’s final conference took place, where the teams presented the results of their work. 23 research projects developed by the participants were combined by the organizers into a collection of papers. It can be found on the event website.

Participants shared what projects they worked on and what new things they learned during these two busy weeks.

Daria Severukhina, Novosibirsk:

— Our project was dedicated to the topic of post-quantum cryptography. We were engaged in the analysis of the vulnerability of a cryptosystem based on the “lattice theory”, namely, the study of side-channel attacks. Post-quantum cryptography is very relevant now, and the topic we were working on is one of the most promising in this area. I study at the Faculty of Mechanics and Mathematics and I study cryptography only in special courses that are held at our university. Therefore, this summer school is a great start to skills and knowledge in this area. In these two weeks, I learned so much information, met leading scientists in this area, I managed to work with them, which is very valuable. I am very glad that I got the opportunity to acquire this knowledge in practice.

Alina Skibina, Saint Petersburg:

— In our project on the topic of “Development of a prototype of a cryptographic hash function,” we developed a prototype of a hash function called “Gorynych.” We tried to create a hash function based on the Russian standard “Stribog,” inspired by the SURF function of Bernstein. This function has a simple design, high stability, and speed. These are the properties that modern hash functions should have. The team turned out to be friendly, well-coordinated, I enjoyed our interaction, I did not feel discomfort. There were many jokes, funny moments that diluted the intense work. I am very pleased with my participation in the summer school. This is not my first participation in such an event, so I was ready for intensive work. The most important skill is experience working in a team. And the lectures are very informative and interesting in that they touch on many areas of cryptography, and perhaps I will work in some of them in the future.

Anna Kozubova, Novorossiysk

— I finished the 9th grade and got to the summer school. Thanks to my participation, I decided on the direction that I would choose to study at GUAP — “Information Security”. Many useful lectures were held for us, and although they were more focused on people who were already studying in this specialty, I was able to study this topic additionally and become interested in it. I want to thank my team, where friendly and working relationships were formed over these two weeks. It was precisely because we united that we were able to prepare such a wonderful project. But none of this would have happened if it were not for our mentor — a true master of his craft — Bezzateev Sergey Valentinovich. In a word, the summer school became an important event for me.

Kirill Gromov, Tver:

— Our project was dedicated to electronic signatures of documents. We considered post-quantum algorithms, which have a higher complexity and are designed so that with the next stage of computer technology development they will not be hackable. We also considered vulnerabilities that are better known at the moment. This is a very good experience to find out what will change in this area now. The scientific community, the experts who supported our projects are, first of all, our like-minded people and people who are interested in the development of this area. To communicate and work with such people almost on equal terms is a very good experience. A wonderful team, new knowledge, a beautiful city, and, despite the fatigue, there was strength for communication.

Artem Kolbeev, Sevastopol:

— This is my second time participating in the summer school “Cryptography and Information Security” and working with the same scientific supervisor — Oleg Sergeevich Zaikin. He guides the team in the right direction. We managed to choose a promising topic for study. I really liked the organization of the summer school — everything was organized competently, and we were given time not only for work, but also for excursions, recreation, and sports. The venue is suitable for comfortable work. We were given a number of very interesting lectures. And several ideas for further scientific developments arose.

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 –

July 25, 2025
How India is quietly powering Maldives’ growth through infra and human capital

Source: Government of India

Source: Government of India (4)

India’s continued development partnership with the Maldives stands as a testament to the enduring ties between the two nations, with several landmark projects reflecting New Delhi’s commitment to supporting the island nation’s growth across sectors ranging from healthcare and education to infrastructure and fisheries.

Healthcare cooperation

The Indira Gandhi Memorial Hospital (IGMH) in Male remains a key symbol of India’s assistance to the Maldives. Conceived during the visit of former Prime Minister Rajiv Gandhi in February 1986, the 200-bed facility was inaugurated in April 1995 by then Prime Minister P.V. Narasimha Rao. Named after former Prime Minister Indira Gandhi, IGMH is the largest public healthcare institution in the country.

India had initially deployed 72 medical professionals to help operationalise the hospital. A major renovation, supported by India at a cost of ₹52 crore, was inaugurated in March 2019 by then External Affairs Minister Sushma Swaraj.

Strengthening technical education

India has also contributed to capacity-building in technical education through the establishment of the Maldives Institute of Technical Education (MITE), now known as the Faculty of Engineering Technology (FET). The foundation stone was laid in 1993 following an agreement during Prime Minister V.P. Singh’s visit in 1990. The completed institute was handed over in 1996 and has since been pivotal in training Maldivian youth in vocational and technical disciplines.

Tourism education

In a bid to bolster the Maldives’ hospitality sector, India supported the construction of the India-Maldives Friendship Faculty of Hospitality and Tourism Studies. The foundation stone was jointly laid by Prime Minister Atal Bihari Vajpayee and President Maumoon Abdul Gayoom in 2002. The eight-storey modern facility was officially handed over in February 2014 by then External Affairs Minister Salman Khurshid. With a capacity for over 200 full-time students, the institute serves as a centre of excellence for tourism and hospitality studies.

Largest Indian grant project supports law enforcement training

The National College for Police and Law Enforcement (NCPLE), located in Addu City, is India’s largest grant-funded project in the Maldives. Built with ₹222.98 crore in grant assistance, the college was inaugurated in March 2022 during the visit of External Affairs Minister Dr. S. Jaishankar. The institution is designed to enhance the training capabilities of Maldives’ police and law enforcement agencies.

Land reclamation in Addu to spur urban growth

India has also supported the Addu Reclamation Project under an $80 million Line of Credit. A total of 184 hectares of land has been reclaimed to facilitate urban and economic development in Addu City. The project was inaugurated on August 11, 2024, during EAM Dr. Jaishankar’s visit to the country.

Water and sanitation

Improving basic infrastructure has also remained a focus area. Under a Line of Credit worth $107.31 million, water and sanitation projects have been completed across 34 islands. Of these, 28 projects have already been handed over to the Maldivian government. The initiative is aimed at enhancing public health and environmental sustainability.

Fisheries infra

In support of the Maldives’ crucial fisheries sector, a new ice plant with a daily production capacity of 50 tons has been established in Gemanafushi. The facility, developed under the Indian Line of Credit, was inaugurated on February 27, 2025. It is expected to bolster fish preservation, improve export capacity, and strengthen the livelihoods of fishing communities.

India’s development footprint in the Maldives reflects a broader strategy of regional cooperation grounded in mutual respect and people-first initiatives. As both nations navigate the next phase of bilateral engagement, these enduring projects lay a strong foundation for deeper collaboration rooted in shared prosperity.

July 25, 2025
MIL-OSI Banking: 2025 Science Prize for Women “Generative AI for Smart Water Management”

Source: ASEAN

JAKARTA, 16 July 2025 – Reflecting on a decade of impact, the annual UL Research Institutes’-ASEAN-US Science Prize for Women celebrates the significance of women in science, technology, engineering, and mathematics (STEM) across the ASEAN region. This year’s prize is launched in partnership between UL Research Institutes (ULRI), UL Standards & Engagements (ULSE), the US-ASEAN Business Council (USABC), and the Association of Southeast Asian Nations (ASEAN), with support from Google. The Prize continues to highlight its ongoing commitment to advancing gender equality and promoting scientific excellence in the ASEAN region.

2025 Theme: Generative AI for Smart Water Management

This year’s theme, “Generative AI for Smart Water Management”, emphasizes the transformative potential of Generative AI in addressing pressing water-related challenges. This theme focuses on groundbreaking research that harnesses Generative AI to deliver smarter, more sustainable, and resilient water management systems. Applications are welcomed across various sectors, including urban development, agriculture, environmental sustainability, and disaster risk reduction.

Competition Categories and Prizes

Eligible candidates will compete in two categories based on their stage of career:

Mid-career Scientist category (those 45 years of age and under)
Senior Scientist category (those 46 years of age and over)

Finalists will be invited to participate in a final judging session and attend the official award ceremony, which will be held during the ASEAN Committee on Science, Technology and Innovation (COSTI) meetings in Bangkok, Thailand in October 2025.

Winners will be awarded $12,500 each, with runner-ups awarded $5,000 each, thanks to the generous sponsorship of the UL Research Institutes (ULRI).

ASEAN COSTI Chair emphasises the value of this initiative in strengthening regional resilience: “This year’s theme, Generative AI for Smart Water Management, could not be more timely. Across ASEAN, the impacts of climate change and water scarcity are growing concerns. The work of women scientists in leveraging cutting-edge technologies like AI is essential to shaping more inclusive, sustainable, and date-driven solutions. COSTI is proud to continue this initiative of championing scientific excellence and gender equity in ASEAN.”

Interim President and Chief Executive Officer of USABC, Amb. (ret) Brian McFeeters, highlights the inaugural opportunity of USABC to contribute to this year’s Science Prize: “We are proud to support the 2025 Science Prize for Women, an initiative pivotal for recognising the excellence of women researchers in STEM across ASEAN. We are incredibly honoured to showcase the contribution of ASEAN women researchers in solving regional challenges through cutting-edge research in environmental governance, artificial intelligence (AI), and an innovation-led ASEAN. The Council would also like to thank Google for their valuable support in this year’s Prize.”

Google’s support for this year’s Prize further highlights the significance of innovation in tackling ASEAN’s most pressing challenges. Their commitment to the inclusive development of AI particularly aligns with the Prize’s focus on prompting science-based solutions and empowering women researchers to lead in the region’s digital and environmental transformation.

In their remarks, ULRI noted that, “The health of our environment is inseparable from the safety of our communities.” said Chris Cramer, Chief Research Officer for UL Research Institutes. “This year’s Science Prize spotlights innovative research in generative AI for smart water management—empowering us to better predict and mitigate environmental risks, preserve vital ecosystems, protect water quality, and foster a more resilient planet for all.”

Call for Applications

We invite women scientists from all ten ASEAN member states who hold doctoral degrees relevant to this year’s theme to apply. This is a unique opportunity for ASEAN women researchers to showcase their impactful research and innovations in utilising Generative AI for the purpose of smart water management.

For more information, please visit the ULRI’s ASEAN-U.S Science Prize for Women website here.

Applications will close by 20 August 2025.

Queries can be directed to scienceprize4women@gmail.com.

The post 2025 Science Prize for Women “Generative AI for Smart Water Management” appeared first on ASEAN Main Portal.

MIL OSI Global Banks –

July 25, 2025
MIL-OSI: Annual Financial Report and Notice of AGM

Source: GlobeNewswire (MIL-OSI)

25 JULY 2025

NORTHERN 3 VCT PLC

ANNUAL REPORT AND FINANCIAL STATEMENTS AND NOTICE OF ANNUAL GENERAL MEETING

The annual report and financial statements of Northern 3 VCT PLC (“the Company”) for the year ended 31 March 2025 (“the Annual Report”) and a circular to shareholders including the notice of the 2025 Annual General Meeting, to be held on to be held on Thursday 7 August 2025 (“the Circular”) have been submitted to the National Storage Mechanism.

Copies of the Annual Report and the Circular are also available on the Company’s website at: www.mercia.co.uk/vcts/n3vct/

Enquiries:

Sarah Williams / James Sly, Mercia Fund Management Limited – 0330 223 1430

Website: www.mercia.co.uk/vcts

Neither the contents of the Mercia Asset Management PLC website, nor the contents of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website), are incorporated into, or form part of, this announcement.

The MIL Network –

July 25, 2025
Sensex, Nifty fall as FPI selling, weak global cues weigh on sentiment

Source: Government of India

Source: Government of India (4)

India’s benchmark indices declined in early trade on Friday, weighed down by sustained selling by Foreign Portfolio Investors (FPIs) and weak global cues.

The Nifty fell 110 points, or 0.44 per cent, to 24,943, while the Sensex shed 290 points, or 0.35 per cent, to 82,065.76.

Ajay Bagga, Banking and Market Expert, said, “Indian markets are pointing to a continued negative outlook as per the traded futures. FPIs remain sellers while DIIs are absorbing the selling. Key support levels are being tested, making today’s price action crucial for the market’s health.”

He added, “Earnings have largely remained weak, and with no India–US trade deal expected before the August 1 deadline, markets are entering a zone of concern. Fasten seat belts—we are seeing key support holding mainly due to resilient Indian retail investors, who continue to buy on dips and maintain faith in domestic management and the economy.”

Broad market indices were also under pressure, with the Nifty 100 down 0.53 per cent, the Nifty Midcap 100 slipping 0.34 per cent, and the Nifty Smallcap 100 losing 0.56 per cent.

Among sectors, only Nifty Pharma stayed in the green, up 0.26 per cent. Others posted losses: Nifty Auto fell 0.66 per cent, Nifty IT 0.19 per cent, Nifty Media 0.40 per cent, and Nifty Metal 0.46 per cent.

Akshay Chinchalkar, Head of Research at Axis Securities, said, “The Nifty erased all its Wednesday gains on Thursday, dropping 159 points to close at 25,062. Yesterday’s candle formed another bearish engulfing: two in quick succession, which is rare. The key levels now are 25,000 as vital support and 25,245 as resistance. Bears will retain control unless we see a close above 25,340.”

On the earnings front, several major companies are scheduled to report their quarterly results today, including Bajaj Finserv, Bank of Baroda, Cipla, Shriram Finance, SBI Cards, Schaeffler India, SAIL, Petronet LNG, Laurus Labs, Poonawalla Fincorp, Tata Chemicals, Aadhar Housing Finance, Grindwell Norton, and ACME Solar Holdings.

Meanwhile, global cues remained weak. Upcoming US–China trade talks in Sweden on Monday are expected to shape the tone for US–India trade negotiations, particularly amid discussions on Russian oil supplies.

With the RBI’s monetary policy meeting scheduled for August 6, investors are bracing for a potentially weak end to the week.

Across Asia, markets traded lower. Japan’s Nikkei 225 was down 0.79 per cent, Singapore’s Straits Times slipped 0.48 per cent, Hong Kong’s Hang Seng dropped 1.19 per cent, and Taiwan’s Weighted Index edged down 0.08 per cent. South Korea’s KOSPI was the lone gainer, rising 0.35 per cent.

(With inputs from ANI)

July 25, 2025
MIL-OSI Analysis: 3 reasons young people are more likely to believe conspiracy theories – and how we can help them discover the truth

Source: The Conversation – Global Perspectives – By Jean-Nicolas Bordeleau, Research Fellow, Jeff Bleich Centre for Democracy and Disruptive Technologies, Flinders University

Conspiracy theories are a widespread occurrence in today’s hyper connected and polarised world.

Events such as Brexit, the 2016 and 2020 United States presidential elections, and the COVID pandemic serve as potent reminders of how easily these narratives can infiltrate public discourse.

The consequences for society are significant, given a devotion to conspiracy theories can undermine key democratic norms and weaken citizens’ trust in critical institutions. As we know from the January 6 riot at the US Capitol, it can also motivate political violence.

But who is most likely to believe these conspiracies?

My new study with Daniel Stockemer of the University of Ottawa provides a clear and perhaps surprising answer. Published in Political Psychology, our research shows age is one of the most significant predictors of conspiracy beliefs, but not in the way many might assume.

People under 35 are consistently more likely to endorse conspiratorial ideas.

This conclusion is built on a solid foundation of evidence. First, we conducted a meta analysis, a “study of studies”, which synthesised the results of 191 peer-reviewed articles published between 2014 and 2024.

This massive dataset, which included over 374,000 participants, revealed a robust association between young age and belief in conspiracies.

To confirm this, we ran our own original multinational survey of more than 6,000 people across six diverse countries: Australia, Brazil, Canada, Germany, the US and South Africa.

The results were the same. In fact, age proved to be a more powerful predictor of conspiracy beliefs than any other demographic factor we measured, including a person’s gender, income, or level of education.

Why are young people more conspiratorial?

Having established conspiracy beliefs are more prevalent among younger people, we set out to understand why.

Our project tested several potential factors and found three key reasons why younger generations are more susceptible to conspiracy theories.

1. Political alienation

One of the most powerful drivers we identified is a deep sense of political disaffection among young people.

A majority of young people feel alienated from political systems run by politicians who are two or three generations older than them.

This under representation can lead to frustration and the feeling democracy isn’t working for them. In this context, conspiracy theories provide a simple, compelling explanation for this disconnect: the system isn’t just failing, it’s being secretly controlled and manipulated by nefarious actors.

2. Activist style of participation

The way young people choose to take part in politics also plays a significant role.

While they may be less likely to engage in traditional practices such as voting, they are often highly engaged in unconventional forms of participation, such as protests, boycotts and online campaigns.

These activist environments, particularly online, can become fertile ground for conspiracy theories to germinate and spread. They often rely on similar “us versus them” narratives that pit a “righteous” in-group against a “corrupt” establishment.

3. Low self-esteem

Finally, our research confirmed a crucial psychological link to self-esteem.

For individuals with lower perceptions of self worth, believing in a conspiracy theory – blaming external, hidden forces for their problems – can be a way of coping with feelings of powerlessness.

This is particularly relevant for young people. Research has long shown self esteem tends to be lower in youth, before steadily increasing with age.

What can be done?

Understanding these root causes is essential because it shows simply debunking false claims is not a sufficient solution.

To truly address the rise of conspiracy theories and limit their consequences, we must tackle the underlying issues that make these narratives so appealing in the first place.

Given the role played by political alienation, a critical step forward is to make our democracies more representative. This is best illustrated by the recent election of Labor Senator Charlotte Walker, who is barely 21.

By actively working to increase the presence of young people in our political institutions, we can help give them faith that the system can work for them, reducing the appeal of theories which claim it is hopelessly corrupt.

More inclusive democracy

This does not mean discouraging the passion of youth activism. Rather, it is about empowering young people with the tools to navigate today’s complex information landscape.

Promoting robust media and digital literacy education could help individuals critically evaluate the information they encounter in all circles, including online activist spaces.

The link to self-esteem also points to a broader societal responsibility.

By investing in the mental health and wellbeing of young people, we can help boost the psychological resilience and sense of agency that makes them less vulnerable to the simplistic blame games offered by conspiracy theories.

Ultimately, building a society that is resistant to misinformation is not about finding fault with a particular generation.

It is about creating a stronger, more inclusive democracy where all citizens, especially the young, feel represented, empowered, and secure.

Jean-Nicolas Bordeleau receives funding from Social Sciences and Humanities Research Council of Canada.

– ref. 3 reasons young people are more likely to believe conspiracy theories – and how we can help them discover the truth – https://theconversation.com/3-reasons-young-people-are-more-likely-to-believe-conspiracy-theories-and-how-we-can-help-them-discover-the-truth-261074

MIL OSI Analysis –

July 25, 2025
Yoga may cut risk of type 2 diabetes by 40%, new report finds

Source: Government of India

Source: Government of India (4)

Regular practice of yoga may reduce the risk of developing Type 2 diabetes by as much as 40% among individuals at high risk, according to a new report titled ‘Yoga and Prevention of Type 2 Diabetes’. The findings were presented on Thursday to the Union Minister for Health and Family Welfare, J.P. Nadda, in the presence of Union Minister for Science & Technology Dr. Jitendra Singh.

The report, based on evidence-backed research, was prepared by the Research Society for the Study of Diabetes in India (RSSDI), one of India’s largest organizations of diabetes researchers and healthcare professionals. It was led by Dr. S.V. Madhu, former President of RSSDI and current head of the Department of Endocrinology at the University College of Medical Sciences, Delhi.

Unlike earlier studies that mainly focused on managing diabetes through yoga, this study emphasizes prevention. It assessed the impact of yoga on individuals with a predisposition to Type 2 diabetes—such as those with a family history or other risk factors—and found a significant 40% reduction in their risk when yoga was practiced regularly.

“This is one of the first scientific attempts to document yoga’s role in preventing Type 2 diabetes,” said Dr. Jitendra Singh, who is also a noted diabetologist. He emphasized that the study provides a much-needed focus on preventive healthcare, aligning with India’s broader wellness goals.

The report also identified specific yoga asanas (postures) that may be particularly effective in lowering diabetes risk, although details on these asanas are yet to be elaborated for clinical recommendations.

While the current findings are based on non-clinical observations, further scrutiny and validation are underway. Additionally, the Department of Biotechnology is supporting similar studies to explore how traditional wellness practices like yoga can be integrated into modern preventive and therapeutic health strategies.

Calling the findings a “reaffirmation of India’s wellness heritage grounded in modern science,” Dr. Singh said, “This study shows how ancient practices like yoga, when subjected to scientific investigation, can yield real-world solutions for public health.”

July 25, 2025
Israel and US recall teams from Gaza truce talks, US says Hamas not showing good faith

Source: Government of India

Source: Government of India (4)

Israel and the United States recalled their delegations from Gaza ceasefire talks for consultations on Thursday, with U.S. envoy Steve Witkoff accusing the Palestinian militant group Hamas of failing to act in good faith in the talks.

It marked the latest setback in efforts to secure a deal that would bring a ceasefire to Gaza, secure the release of Israeli hostages held by Hamas, and bring respite to Palestinians suffering a sharply worsening humanitarian crisis.

Witkoff said mediators had made a great effort but “Hamas does not appear to be coordinated or acting in good faith”. “We will now consider alternative options to bring the hostages home and try to create a more stable environment for the people of Gaza,” he wrote on X.

Hamas said it was surprised by Witkoff’s remarks, adding that the group’s position had been welcomed by mediators and had opened the door to reaching a comprehensive agreement.

“The movement affirms its keenness to continue negotiations and engage in them in a manner that helps overcome obstacles and leads to a permanent ceasefire agreement,” Hamas added in a statement early on Friday.

An Israeli official with knowledge of the talks said Hamas’ response to the latest ceasefire proposal “does not allow for progress without a concession” by the group but that Israel intended to continue discussions.

Both Israel and Hamas are facing pressure at home and abroad to reach a deal following almost two years of war, with the humanitarian situation inside Gaza deteriorating and Israelis worried about the conditions in which hostages are being held.

Dozens of people have starved to death in Gaza the last few weeks as a wave of hunger crashes on the enclave, according to local health authorities.

British Prime Minister Keir Starmer said the suffering and starvation in Gaza was an “unspeakable and indefensible” humanitarian catastrophe and called on Israel to urgently let in aid.

“While the situation has been grave for some time, it has reached new depths and continues to worsen. We are witnessing a humanitarian catastrophe,” Starmer said in a statement.

He will hold an emergency call with French and German partners on Friday to discuss what could be done to “stop the killing and get people the food they desperately need,” he said.

The Gaza health ministry said two more people had died of malnutrition. The head of Shifa Hospital in Gaza City said the two were patients suffering from other illnesses who died after going without food for several days.

Earlier in the day, there had been some apparent signs of progress in the mediation.

A senior Hamas official told Reuters that there was still a chance of reaching a ceasefire deal but it would take a few days because of what he called Israeli stalling.

A senior Israeli official had been quoted by local media as saying the new text was something Israel could work with.

But, Israel’s Channel 12 said a rapid deal was not within reach, with gaps remaining between the two sides, including over where the Israeli military should withdraw to during any truce.

Witkoff’s team did not immediately respond to a request to explain the Hamas demands that led to his withdrawal of the U.S. negotiators.

The Hostages Families Forum, representing the family members of those held in Gaza, expressed concern at the recall of the Israeli team. “Each day that passes endangers the hostages’ chances of recovery and risks losing the ability to locate the fallen or gain vital intelligence about them,” it said.

PEPPER SPRAY FIRED AT AID SITE

Women going to fetch aid for their families on Thursday said U.S. contractors organising distribution asked them to come to pick up goods and then fired tear gas and pepper spray at them.

“The Americans said ‘go, go’, and then said no, get back. They sprayed us with pepper spray so we went away. Five minutes later they shot tear gas at us … is this American humanitarian aid?” said Mervat al-Sakani.

Asked for comment, a spokesperson for the aid organisation – the Gaza Humanitarian Foundation – said a limited amount of pepper spray was used “to prevent civilian injury due to overcrowding”, adding that GHF “didn’t want people to get hurt.” The spokesperson said women-only aid distribution had been “a major success” overall.

GHF, a U.S.-and Israeli-backed organization, began distributing food packages in Gaza at the end of May.

The U.N. has called the GHF’s model unsafe and a breach of humanitarian impartiality standards, which GHF denies.

The U.N. rights office said on July 15 it had recorded at least 875 killings within the preceding six weeks in the vicinity of aid sites and food convoys in Gaza – the majority of them close to GHF distribution points.

Most of those deaths were caused by gunfire that locals have blamed on the Israeli military. The military has acknowledged that civilians were harmed, saying that Israeli forces had been issued new instructions with “lessons learned”.

Israel, which cut off all supplies to Gaza from the start of March and reopened it with new restrictions in May, says it is committed to allowing in aid but must control it to prevent Hamas diverting it.

Israel says it has let in enough food for Gazans, and blames the United Nations for being slow to deliver it; the U.N. says it is operating as effectively as possible under conditions imposed by Israel.

The war began when Hamas killed some 1,200 people and took 251 hostages in its October 7 attacks on Israel, according to Israeli tallies. Israel has since killed nearly 60,000 Palestinians in Gaza, according to Gaza health authorities.

(Reuters)

July 25, 2025
MIL-OSI China: Low-altitude economy attracts more aero firms

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

Visitors learn about a flying vehicle at the International Advanced Air Mobility Expo in east China’s Shanghai on July 23, 2025. [Photo/Xinhua]

Eyeing China’s booming low-altitude mobility sector, a number of companies unveiled their latest cutting-edge products and solutions at the first International Advanced Air Mobility Expo, which kicked off on Wednesday in Shanghai and will run through Saturday.

With participation of nearly 300 exhibitors from around the globe, the event is expected to attract over 50,000 visitors, event organizers said.

A variety of electric vertical takeoff and landing (eVTOL) aircraft are on display. For example, Vector5 — the world’s first large payload eVTOL aircraft designed by Vision Aero Ltd for emergency medical service and search and rescue — was unveiled at the event.

With a maximum payload of 680 kilograms and takeoff weight of 3,180 kg, the seven-seat eVTOL aircraft developed by the Xi’an, Shaanxi province-based company is equipped with sufficient medical devices and fixation systems for stretchers. Compared with existing medevac helicopters, the eco-friendly aircraft can greatly reduce costs and improve efficiency when dealing with emergency rescue demands.

“We expect to roll out a more cost-effective model compared to traditional helicopters with Vector5, by cutting the purchase cost by about 50 percent, thanks to the complete supply chain in China,” said Hu Yiqiang, general manager of the company.

“The low-altitude economy is booming in China, and we see potential market demand for eVTOL aircraft in the medical service sector.”

Also eyeing overseas markets, Vision Aeronautics is expanding its layout worldwide in regions such as Europe, the Middle East and Southeast Asia.

During the expo, unmanned aircraft designed for logistics and transportation also attracted large crowds. Among them, the “Air Jeep” AI-101 — a super short take-off and landing (SuperSTOL) intelligent aircraft developed by McLean (Shanghai) Intelligent Technology Co Ltd — made its world debut at the expo.

With a take-off and landing distance shorter than 40 meters and a minimum takeoff distance of 7 meters, the large fixed-wing unmanned aircraft is tailored for courier services within 600 kilometers, said the company.

“The number of deliveries soared over 160-fold from 2010 to 2024 in China. Our aircraft can carry 500 kg of goods, and require no general aviation airports or long runways to take off or land. Logistics firms are in urgent need of such aircraft, which has been rushing us forward,” said Ma Liqi, co-founder and CEO of McLean.

Big names from overseas are also at the expo. Sky Enterprises Inc from the United States is displaying its amphibious aircraft RC-3 Seabee for the first time in China.

The model can adapt to complex take-off and landing scenarios such as water surfaces, grasslands, snowy fields and sandy areas. Its first version was produced in 1946, and since then, it has been widely applied in over 30 countries in fields such as tourism, transportation, emergency rescue, logistics and express delivery, forest fire fighting and border patrols.

The aircraft has been through comprehensive upgrades to improve its load and endurance performance so as to tap into the Chinese market. Planning to obtain Chinese certificates within 10 months, the company said it is looking to launch a manufacturing base in the country, and deliver its upgraded aircraft around the end of next year.

Celia Chen, CEO of the company, said: “We believe this is the best time for us to enter China as we see the nation’s great efforts in promoting the low-altitude economy, which gives us full confidence and solid support. The nation has a well-developed supply chain and advanced artificial intelligence technologies, and we hope to take such advantages to carry the classic aircraft forward.”

MIL OSI China News –

July 25, 2025
MIL-OSI China: China sets up state-owned fusion energy company

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

This photo taken on March 9, 2025 shows the one-eighth vacuum chamber and overall installation system, one of the key subsystems of the Comprehensive Research Facility for Fusion Technology (CRAFT), in Hefei, capital of east China’s Anhui Province. [Photo/Xinhua]

China has set up a state-owned fusion energy company in its latest drive to commercialize fusion power, aiming to harness an almost inexhaustible source of clean energy.

China Fusion Energy Co. Ltd (CFEC), a subsidiary of the China National Nuclear Corporation (CNNC), was unveiled in Shanghai this week with a registered capital of 15 billion yuan (about 2.1 billion U.S. dollars).

The newly-founded firm, positioned as an innovation driver for advancing China’s fusion engineering and commercialization, is tasked with developing platforms for technological research and capital operations, the CFEC said.

China announced prioritized support for core future energy technologies in 2024, with a focus on nuclear fusion, in a bid to fast-track the transition of this cutting-edge technology from the lab to practical application.

Shanghai is doubling down on its nuclear ambitions, striving to build a world-class hub for nuclear equipment manufacturing and advanced fusion research and development, while securing double-digit annual growth for its nuclear power sector through 2025.

China Fusion Energy signed a cooperation agreement for a fusion innovation consortium with Shanghai Jiao Tong University, China Electrical Equipment Group, Shanghai Electric and Shenergy Group. Many of these local heavyweights in the traditional power generation sector are poised to secure market share in upstream and downstream fusion-related equipment.

CITIC Securities estimates that the global nuclear fusion device market could reach a scale of 2.26 trillion yuan between 2030 and 2035.

In March, a team from Energy Singularity in Shanghai achieved a breakthrough in high-temperature superconducting tokamak technology, with their magnet surpassing the previous record set by the Massachusetts Institute of Technology and Commonwealth Fusion Systems in the United States.

This Shanghai startup has announced a plan to complete its next-generation tokamak by 2027, targeting a 10-fold energy gain, a critical milestone for commercial fusion viability.

In addition to the eastern Chinese manufacturing hub, two inland provinces in China have significantly expanded scientific research and investment in the fusion energy sector.

East China’s Anhui Province is actively constructing the Burning Plasma Experimental Superconducting Tokamak (BEST) in its capital Hefei, which is expected to demonstrate fusion electricity generation for the first time in history.

The massive facility, an upgraded version of the record-breaking Experimental Advanced Superconducting Tokamak currently operational at a research institute in the city, is also expected to be completed by 2027.

Fusion Energy Tech., the Hefei-based company building the BEST, is another large firm with majority state-owned capital stakes and a registered capital of 14.5 billion yuan. Chinese automaker NIO is one of its major shareholders.

Engineers there are aiming to construct a fusion engineering demonstration reactor, based on the BEST project. Commercial operations are projected to start somewhere between 2040 and 2050.

Separately, research and commercial entities in southwest China’s Sichuan Province are exploring various technical routes to harvesting fusion energy, including tokamak, linear field-reversed configuration (FRC), inertial confinement and magnetically driven fusion.

Last Friday, a Chengdu-based fusion startup achieved plasma ignition in its FRC device, the HHMAX-901, marking a significant milestone toward scaling the technology for commercial use. Similarly, U.S.-based Helion Energy plans to adopt this approach and is expected to begin supplying power to Microsoft by 2028.

Earlier this month, the Sichuan provincial government released its plan to support the development of “controlled nuclear fusion” as a future industry.

A recent analysis by MIT Technology Review suggests that China’s robust industrial base could allow its emerging fusion energy sector to “climb the learning curve much faster and more effectively” than its global competitors.

China’s industrial might in thin-film processing, large metal-alloy structures and power electronics provides a strong foundation to establish the upstream supply chain for fusion, according to the article.

The journal specifically highlighted China’s strengths in large-scale power electronics, which are also used in similar systems such as high-speed rail and renewable microgrids.

Zhou Lisha, a researcher at the China Enterprise Reform and Development Society, noted that the establishment of CFEC will boost the sector’s technical and innovation capabilities, and propel the rapid development of the “artificial sun” industry.

Despite its promising prospects, CNNC, CFEC’s parent company, has cautioned that controlled nuclear fusion is still in the developmental stage, with uncertainties and even risks of commercial failure.

MIL OSI China News –

July 25, 2025

Category: Technology

25 July 2025

Statement on Australia-UK Ministerial Consultations (AUKMIN) July 2025

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Appointments to the Board of Royal Botanic Gardens, Kew

Biographies

Dame Dervilla Mitchell

Dr Fiona Pathiraja

Sarah Greasley

Steve Almond

Kate Priestman

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The exploit

CVE-2025-49706

CVE-2025-53771

CVE-2025-49704

CVE-2025-53770

CVE-2020-1147

Conclusions