Category: Politics

MIL-OSI: NBT Bancorp Inc. Completes Merger With Evans Bancorp, Inc.

Source: GlobeNewswire (MIL-OSI)

NORWICH, N.Y., May 05, 2025 (GLOBE NEWSWIRE) — NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) announced that it completed the merger (“Merger”) of Evans Bancorp, Inc. (“Evans”) with and into NBT on May 2, 2025, followed by a core systems conversion over the weekend.

The Merger has extended the NBT Bank, N.A. (“NBT Bank”) branch network into the Western Region of New York with the addition of 14 banking offices in the Buffalo area and 4 locations in greater Rochester. NBT Bank now has 175 branches across its seven-state footprint.

“We are thrilled to welcome over 200 employees and more than 40,000 customers from Evans Bank into the NBT family as a result of this merger,” said NBT President and CEO Scott A. Kingsley. “Adding the Buffalo and Rochester markets to our service area is a natural extension of our footprint in Upstate New York. We look forward to building on the relationships Evans has established with customers, communities and shareholders as we focus on continuing to support all stakeholders with a smooth transition.”

Three executives from Evans have assumed leadership positions with NBT Bank. Ken Pawlak now serves as President of the Western Region of New York and Buffalo Regional President. Tim Brown is Rochester Regional President, and Audrey Meyers is Senior Territory Manager for Retail Banking in the Buffalo and Rochester markets.

“The addition of Ken Pawlak, Tim Brown and Audrey Meyers to the NBT Bank leadership team will provide important continuity in leadership that will support our commitment to being responsive to our employees and customers in the Western Region of New York,” said NBT Bank President Joseph R. Stagliano. “We value their extensive banking experience and knowledge of the region.”

Later this month following NBT’s Annual Meeting of Stockholders, the Company will appoint former Evans President and CEO David J. Nasca to its board of directors consistent with the terms of the merger agreement.

About NBT Bancorp
NBT Bancorp is a financial holding company headquartered in Norwich, NY, with total assets of $13.86 billion at March 31, 2025. The Company primarily operates through NBT Bank, N.A., a full-service community bank, and through two financial services subsidiaries. NBT Bank, N.A. has 175 banking locations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. EPIC Retirement Plan Services is a national benefits administration firm based in Rochester, NY. NBT Insurance Agency, LLC, is a full-service regional insurance agency based in Norwich, NY.

Forward Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements about NBT and its industry involve substantial risks and uncertainties. Statements other than statements of current or historical fact, including statements regarding NBT’s future financial condition, results of operations, business plans, liquidity, cash flows, projected costs, and the impact of any laws or regulations applicable to NBT, are forward-looking statements. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should” and other similar expressions are intended to identify these forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results.

Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: (1) the businesses of NBT and Evans may not be combined successfully, or such combination may take longer to accomplish than expected; (2) the cost savings from the merger may not be fully realized or may take longer to realize than expected; (3) operating costs, customer loss and business disruption following the merger, including adverse effects on relationships with employees, may be greater than expected; (4) the possibility that NBT may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or at all or to successfully integrate Evans’ operations and those of NBT; (5) such integration may be more difficult, time consuming or costly than expected; (6) revenues following the transaction may be lower than expected; (7) NBT’s success in executing its business plan and strategy and managing the risks involved in the foregoing; (8) the dilution caused by NBT’s issuance of additional shares of its capital stock in connection with the transaction; (9) changes in general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; and (10) legislative and regulatory changes. Further information about these and other relevant risks and uncertainties may be found in NBT’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in subsequent filings with the SEC.

Forward-looking statements speak only as of the date they are made. NBT does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. You are cautioned not to place undue reliance on these forward-looking statements.

Contact: Scott A. Kingsley, President and CEO
Annette L. Burns, Executive Vice President and CFO
NBT Bancorp Inc.
52 South Broad Street
Norwich, NY 13815
607-337-6589

This press release was published by a CLEAR® Verified individual.

The MIL Network –

May 6, 2025
MIL-OSI: CatalyX Ventures Announces Global Winners of 2025 Champions Series Awards Honoring Innovation Across Industries

Source: GlobeNewswire (MIL-OSI)

New York, USA, May 05, 2025 (GLOBE NEWSWIRE) — CatalyX Ventures, a global innovation accelerator, today announced the conclusion of the 2025 CatalyX Champions Series Awards, recognizing outstanding achievements in business, technology, and leadership. The annual program spotlighted trailblazing individuals across sectors who are redefining innovation standards, with support from a network of international venture capital firms and subject-matter experts.

This year’s awards successfully met several core objectives, including identifying innovation leaders through a rigorous selection process, creating a professional knowledge-sharing platform, and building a visionary community. Winners received tailored mentorship and exclusive access to partner programs, empowering them with strategic resources for continued growth.

The competition featured two main award categories: the Pioneer Award and the Achievement Award. Notable winners include Jishnu Amrit Patil, honored for his work in mechanical engineering, Dmytro Balan, recognized for his AI-powered PPC automation platform, and Olena Derkach, celebrated for integrating mental health into HR strategy. A full list of winners is available on the official event website.

The awards delivered tangible benefits, including global recognition for winners, direct engagement with venture capitalists, and educational influence, with methods now studied in business schools. Participant collaborations have led to new business models, and the event has introduced advanced practices to emerging markets.

“The CatalyX Champions Series Awards is a transformative milestone for innovators worldwide. It highlights the fusion of expertise, innovation, and leadership,” said Evgeniia Sonts, head of events and operations of Catalyx Ventures.

The judging panel included distinguished figures such as Andriy Kovalchuk and Oleksandr Momotok, who praised the transformative impact of the awards. Organizers have announced an expanded program for next year, including regional editions and new specialized award categories.

CatalyX Champions Series Awards attracts participants from various industries and geographies, fostering a vibrant ecosystem of knowledge exchange and promoting global cooperation in innovation. More information and a full list of winners can be found at: CatalyX Champions Series 2025.

About CatalyX Ventures

CatalyX Ventures is a vibrant ecosystem connecting startups, investors, and industry leaders to drive collaboration, innovation, and growth

Press inquiries

CatalyX Ventures
https://www.catalyxventures.com/
Evgeniia Sonts
info@catalyxventures.com

The MIL Network –

May 6, 2025
MIL-OSI Global: A pope of the Americas: What Francis meant to 2 continents

Source: The Conversation – USA – By Neomi De Anda, Associate Professor of Religious Studies, University of Dayton

A portrait of Pope Francis is projected onto a water fountain in Lima, Peru, on April 21, 2025. AP Photo/Martin Mejia

Most stories about Pope Francis mention that he made history as the first pontiff from Latin America. In fact, Francis was the first pope in centuries to be born outside Europe. But what impact did that actually have on the Catholic Church? The Conversation U.S. asked Neomi De Anda, a theologian at the University of Dayton, to explain the significance of having a pope from the Southern Hemisphere.

Where do you see the influence of Pope Francis’ Latin American background?

In reality, Francis is not only the first Latin American pope; he’s the first American pope. Francis is Argentine, the child and grandchild of Italian immigrants, and the first to be born in “América.” Though geography divides it into two continents, North and South, it is one land – one many Indigenous communities call “Turtle Island” or “Abya Yala.”

In the pope’s 2024 video message to the Academy of Catholic Hispanic Theologians of the United States, he called upon them “to be bridge-builders between the Americas” and to be a church that “welcomes, accompanies, and integrates” migrants. Speaking in Spanish, he invited the academy “to do theology with your head, your hearts, and your hands” and to integrate “the richness of both cultures, North and South, at the service of a dignified life.”

Pope Francis arrives for a massive open-air Mass in a park just a few yards from the U.S. border in Ciudad Juarez, Mexico, on Feb. 17, 2016.
AP Photo/Dario Lopez-Mills

This message emphasizes Francis’ view of “synodality” – meaning a church that walks together – and his understanding of the connection among all people in the Americas and the Caribbean. It also shows a recurring theme of his papacy: the connections between pastoral care and theology.

The greeting also highlights his desire for all to have a life of well-being, or “buen vivir,” through God’s love. As Jesus says in the Gospel of John, “I came so that they may have life and have it more abundantly.” This is also a key theme in a 2007 document produced after a meeting of Latin American bishops, known as Aparecida. Francis, then a cardinal, was a primary drafter.

Aparecida points out Latin America’s abundance of aquifers and forest lands, which are “humanity’s lungs.” It laments economic factors leading to environmental destruction and climate change – themes that would prove important to Francis’ papacy. The document stresses God’s care for people whose lands are being pillaged and who are forced to migrate. It claims “nothing and no one” can take away the strength, joy and peace God gives to the world’s most vulnerable.

Francis repeatedly acknowledged the Catholic Church’s role in crimes against Indigenous people, and he apologized. How did ideas about colonialism shape his papacy?

Francis spent much time and attention learning more about the experiences of Native communities: from his visit to Chiapas, Mexico, in 2016; to the Amazon Synod, a meeting of Catholic bishops from the Pan-Amazon Region, Indigenous leaders from this region, theologians and other subject matter experts in 2019; to his tour across Canada in 2022.

After the synod, Francis released a letter titled Querida Amazonia, which includes a call for Catholic leaders to learn more about the lives of Native peoples from across the nine countries of the Amazon.

During the papal Mass Francis celebrated in Chiapas, Mexico, in 2016, you can see the deep intermixing of local cultures and customs with the liturgy. For example, women spread incense across the altar using clay vessels, alongside deacons using a thurible, the metal burner typically used in services. Animal images at the front of the platform represented the integration of all of creation.

Pope Francis delivers his message during Mass in San Cristobal de las Casas, Chiapas, Mexico, on Feb. 15, 2016.
AP Photo/Gregorio Borgia

Throughout his trip to Canada in 2022 – whose purpose, in part, was to apologize for the Catholic Church’s role in the Indigenous boarding school system – Francis presented a disposition of listening and care. He spent more time meeting with people and hearing about their experiences than giving prepared speeches on the perspective of the church.

For First Nations peoples, the pope’s visit was an opportunity for reconciliation – but for some, it also reopened old wounds. One of their requests was that the church reject the Doctrine of Discovery: ideas about conversion to Christianity that colonial powers used to justify abuses.

Talking to reporters on the plane returning to Rome, Francis named what had been done to Indigenous children in boarding schools as “genocide.” The following year, the Vatican released a repudiation of the Doctrine of Discovery and documents associated with those ideas.

Are there other ways that the pope did – or didn’t – make the church feel more inclusive?

Francis’ papacy did less to change teachings on another topic shaped by colonialism: gender, sexuality and women. The Catholic Church maintains that there are two genders – male and female – which complement each other, a binary system that replaced more flexible ways of thinking about gender in some cultures.

Members of a delegation of Indigenous peoples in Quebec await a meeting with Pope Francis on July 29, 2022.
Ciro Fusco/Pool ANSA via AP

The question of whether to ordain women as deacons arose from the Amazon Synod and continued at the church’s global Synod on Synodality, but without resolution.

An emphasis on women’s role as child-bearers is embedded in the theological understanding of Mary as mother of Christ and the mother of the church. Whether intentionally or not, however, I would argue Francis laid groundwork for teaching about women and gender to expand.

Appointments of women to high Vatican positions point to small shifts in practice. The presence of trans people among the last people who paid respects to Francis at his funeral marks a sign of possibilities that hopefully will continue.

Although of “the church” might make us think of clergy, all who are baptized are the church. Around the world, Catholic communities have developed in many ways, with multiple forms of leadership – especially women lay leaders. The Vatican needs to continue to affirm that reality.

The Catholic Church understands diversity as a gift of the Holy Spirit. My hope is for someone to continue in Francis’ vein of appreciating that pluralism.

Neomi De Anda consults for the Louisville Institute, funded by Lily Endowment Inc. She receives funding from the Wabash Center for Teaching and Learning in Religion and Theology. She is a past president of the Academy of Catholic Hispanic Theologians of the United States and is affiliated with the Marianist Social Justice Collaborative.

– ref. A pope of the Americas: What Francis meant to 2 continents – https://theconversation.com/a-pope-of-the-americas-what-francis-meant-to-2-continents-255093

MIL OSI – Global Reports –

May 6, 2025
MIL-OSI Global: Pope Francis encouraged Christian-Muslim dialogue and helped break down stereotypes

Source: The Conversation – USA – By Craig Considine, Senior Lecturer in Sociology, Rice University

Tributes being paid to Pope Francis at the Sacred Heart Cathedral Church in Lahore, Pakistan, on April 22, 2025. AP Photo/K.M. Chaudary

Pope Francis’ pontificate marked a distinct shift in the Catholic Church’s engagement with the Muslim world. While his predecessors fostered dialogue and tolerance, Francis sought more active engagement with Muslims, particularly in the Middle East.

Francis framed his efforts around the “culture of encounter,” which he explained in a 2016 morning meditation. Drawing inspiration from the Gospel of Luke, Chapter 7, he noted that this approach was about “active engagement” rather than passive observation. He urged individuals to embody Jesus by “not just seeing, but looking; not just hearing, but listening; not just passing people by, but stopping with them.”

In my 2025 book “Beyond Dialogue – Building Bonds Between Christians and Muslims,” I stress the importance of moving beyond mere tolerance to collaboration as a way to engage with religious diversity − something that Francis demonstrated in his interfaith dialogue efforts with Muslim countries.

Francis in Iraq after IS destruction

In 2021, Francis visited regions in Iraq once held by the Islamic State, or IS. This was the first papal visit to the country. He held masses in Irbil, the capital of the Kurdistan region of Iraq, and he addressed a gathering in the courtyard of the Al-Tahera church, the hub of the Syriac Catholic population in Mosul. The historic 18th-century church was partially destroyed by IS during its occupation of the city from 2014 to 2017. An estimated 5,000 Christians were killed and some 125,000 displaced in Iraq during that time.

Iraqis put up a poster with Pope Francis and Grand Ayatollah Ali al-Sistani, the leader of Iraqi Shiite Muslims, in Najaf, Iraq, on March 4, 2021.
AP Photo/Anmar Khalil

At Church Square in Mosul, where there are four churches, Francis prayed for the victims of the conflict and called for harmonious coexistence between Christians and Muslims. He also invited displaced Christians to return to their homes and praised the young Iraqi volunteers – both Christians and Muslims – working side by side to rebuild the churches and mosques destroyed by IS.

In addition, he convened an interreligious gathering in Ur, the birthplace of Abraham, a prophet revered by Jews, Christians and Muslims.

His actions not only brought together Christians and Muslims but also helped break down stereotypes.

The year of tolerance

In 2019 he visited the United Arab Emirates, marking the first papal visit to the Arabian Peninsula, the birthplace of Islam. The visit coincided with the Emirati government proclaiming 2019 the Year of Tolerance, promoting coexistence, diversity and respect.

During his visit in Abu Dhabi in 2019, Francis celebrated a historic Catholic Mass in Zayed Sports City, drawing 180,000 attendees from over 100 countries, for which the UAE government declared a special holiday.

This unprecedented event challenged negative Western stereotypes about the Arabian Peninsula’s religious intolerance. The UAE Constitution, for example, guarantees religious freedom to all people, albeit with restrictions on proselytization among non-Islamic communities. It also offered a counternarrative of unity between Christians and Muslims in a region often viewed through a lens of religious strife and war.

Francis’ visit to the UAE also culminated in some crucial interfaith initiatives. In Abu Dhabi, Francis and the Grand Imam of Al-Azhar University, Ahmed El-Tayeb, cosigned the document on Human Fraternity for World Peace and Living Together. The document stresses the need to work together to promote a “culture of reciprocal respect.” While the Emirati president, Sheikh Mohammed bin Zayed Al Nahyan, did not directly sign the document, he supported the interfaith initiatives that followed Francis’ trip.

This document led to the setting up of the Higher Committee of Human Fraternity, a collaborative project of a diverse groups of academic, cultural and religious leaders and entities from around the world. The committee created the Human Fraternity Education and Leadership for Peace program, a global youth movement. It also worked with the United Nations General Assembly to designate Feb. 4 as the International Day of Human Fraternity.

The Higher Committee of Human Fraternity also guided the construction of the Abrahamic Family House in Abu Dhabi, a shared space for a church, mosque and synagogue that opened in 2023.

I had the opportunity to attend the opening ceremony of the Abrahamic Family House in 2023. It was a memorable experience. A Christian girl, a Muslim boy and Jewish boy each brought a cube representing each house of worship to the center platform of the forum and placed them side by side on the ground. The simple act mirrored the architectural design of the Abrahamic Family House by bringing the abstract concept of interfaith harmony to life in a concrete and relatable way. The Emirati youth provided a glimpse into what a tolerant future could look like.

History of Catholic-Muslim relations

The closest historical comparison to the Document on Human Fraternity is the Nostra Aetate, a declaration from the Second Vatican Council of 1965, when major reforms were initiated in the Catholic Church.

Nostra Aetate marked a turning point in the Catholic Church’s relations with Islam and all non-Christian traditions. After a history of conflict, limited positive engagement and mutual suspicion, it emphasized harmony, dialogue and respect with Islam.

However, the Document on Human Fraternity went further. For starters, it was a joint declaration with prominent Muslim leaders, signifying a deeper commitment to Christian-Muslim partnership, whereas Nostra Aetate was an internal Catholic document. The document called for grassroot activities, pointing to a more action-oriented approach to Christian and Muslim relations. Given that it was signed by the pope, it held influence within the Vatican leadership and among liberal cardinals. Its core principles are being integrated into pastoral initiatives and interreligious dialogue at the national and international levels.

Francis’ approach to Christian-Muslim dialogue differed notably from his predecessors. While Pope John Paul II focused on intellectual exchange and theological dialogue, Francis emphasized that they were insufficient on their own. In turn, he prioritized direct action and personal engagement with others as a means to a deeper understanding of the other.

Pope Benedict XVI, despite his commitment to dialogue, faced challenges due to remarks that outraged Muslims worldwide. During his Regensburg address in 2006, he mentioned a medieval dialogue attributed to Manuel II Palaiologus, the Byzantine emperor who reigned from 1391 to 1425, a period of growing power of the Ottoman Empire. Manuel II had criticized the concept of jihad in Islam and referred to Muhammad, the prophet of Islam, as “evil” and “inhuman.” While Benedict repeatedly emphasized that he was quoting Manuel II’s views on the relationship between faith and reason and not personally endorsing the emperor’s assessment of Islam, the pope’s comments were perceived as disrespectful toward the Islamic faith and its prophet.

Upon Francis’ death, the president of the UAE – Sheikh Mohammed bin Zayed Al Nahyan – described him as “a symbol of human fraternity, cultural coexistence and interfaith dialogue,” adding that he inspired “future generations in upholding the values of tolerance and mutual understanding.”

Francis’ gestures of solidarity, personal relationships and frequent visits to Muslim countries, I believe, laid a tangible foundation to move beyond dialogue and toward human fraternity.

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

– ref. Pope Francis encouraged Christian-Muslim dialogue and helped break down stereotypes – https://theconversation.com/pope-francis-encouraged-christian-muslim-dialogue-and-helped-break-down-stereotypes-255193

MIL OSI – Global Reports –

May 6, 2025
MIL-OSI Global: National security advisers manage decision-making as advocates or honest brokers

Source: The Conversation – USA – By Gregory F. Treverton, Professor of Practice in International Relations, USC Dornsife College of Letters, Arts and Sciences

Mike Waltz speaks with reporters in the press room at the White House on Feb. 20, 2025. AP Photo/Alex Brandon

The removal of Mike Waltz as President Donald Trump’s national security adviser – formally the assistant to the president for national security affairs – raises the question of just what that position entails and also what it means that Marco Rubio will now act as secretary of state and national security adviser.

The National Security Act of 1947 created the National Security Council to advise the president on matters of national security. It’s also tasked with integrating domestic, foreign and military policies.

But the national security adviser position is neither enshrined in law nor accountable to Congress.

I’m an economist and international relations scholar who has worked with three national security advisers − Zbigniew Brzezinski, Samuel “Sandy” Berger and Susan Rice.

I’ve seen the job up close. The core of the national security adviser’s role is managing the national security decision-making process, as decisions on issues from Ukraine to Gaza to nuclear proliferation are made. It’s a coordinating role.

Honest broker

National security advisers set the timing and flow of policy analysis and recommendations to the National Security Council committees − first, the principals committee, which brings together the Cabinet secretaries with national security responsibilities from the State Department, Department of Defense, the CIA and others.

While the principals committee typically rarely meets and virtually never with the president in the chair, not so the deputies committee. That committee brings together the Nos. 2 and 3 in the same departments.

In my most recent stint in Washington as chair of the National Intelligence Council in the Obama administration, the deputies committee met almost every day, sometimes more than once. Its formal role is to tee up issues for decision by the principals and the president.

National security advisers have the advantage of proximity to the president, with an office footsteps from the Oval, as it is known in Washington lingo. They also manage a relatively lean staff.

In my time on the National Security Council staff in the Carter administration, it was perhaps 150 all told, including the watch officers in the White House Situation Room. In the Biden administration it was on the order of 350 staff.

For us National Security Council staffers, if we disagreed with our counterparts at the State Department or the Defense Department, we could let the principals decide. We knew that we could get to Brzezinski faster, for example, than they could get to their Cabinet secretaries.

National security adviser Susan Rice walks with Fang Changlong, vice chairman of the Central Military Commission, in Beijing, in September 2014.
AP Photo/Wang Zhao

In Washington, proximity is opportunity. And, not surprisingly, national security advisers since McGeorge Bundy in the John F. Kennedy and Lyndon B. Johnson administrations have become central figures in the foreign policy arena. The have had to manage the balance between seeking to influence the president and remaining an honest broker.

As Berger put it, “You have to be perceived by your colleagues as an honest representative of their viewpoint, or the system breaks down.”

Managing the tension

National security advisers have managed the tension in their roles in different ways. And two models of those roles have emerged.

Henry Kissinger, who served Presidents Richard Nixon and Gerald Ford, was a powerful strategist driving presidential policy, often bypassing traditional channels. He, like Secretary of State Marco Rubio will do, served a dual role from 1973 to 1975 as national security adviser and secretary of state. Condoleezza Rice, the national security adviser who served George W. Bush, also later became secretary of state.

Brent Scowcroft, who served both Ford and President George H. W. Bush, is the exemplar of the other model − an “honest broker” ensuring a fair, collegial policy process. He was the consummate insider: low-key, meticulous about process and influencing through quiet proximity. The Bush administration he served was also, as described by a friend, as collegial as the men’s locker room of an upscale country club. Still, while I never had the chance to work with him, he is my standard for the role of national security adviser.

Waltz served too briefly to evaluate his record. It’s ironic that what seems to have done him in was the Signalgate scandal, in which Waltz added a journalist to a Signal group chat in which government officials discussed details about a planned U.S. military strike in Yemen.

That was an example of Waltz’s coordinating role, bringing most of the relevant policy officials together to discuss an important issue. The purpose was right, but the means was extremely unwise.

Henry Kissinger shakes hands with Chinese Premier Chou En-lai in Peking, China, in July 1971.
AP Photo/White House

Learning from the past

Historically, the worst crisis of the National Security Council system ensued when it sought to conduct operations, not just organize them. That was the case in the Iran-Contra affair of the Reagan administration.

Robert McFarlane took over as national security adviser in October 1983. A former Marine officer and deputy national security adviser, he was conscientious to a fault: In one meeting while he was consulting during the transition from President George H. W. Bush to President Bill Clinton, we asked him about work hours. He replied: “They’re not bad. I’m out of here by eight most nights, earlier on Sunday.”

He was done in by Iran-Contra, a clandestine effort run by the National Security Council to trade arms to Iran − then under a U.S. arms embargo − in hopes of freeing American hostages, with proceeds diverted to fund the Nicaraguan Contras, despite a congressional ban on funding them. He pleaded guilty in 1988 to withholding information from Congress.

It’s a telling lesson for Rubio and other Waltz successors as the national security adviser of the dangers of moving from honest broker and quiet advocate to operator − especially if the operation is contrary to public U.S. policy and perhaps against the law.

This story is part of a series of profiles of Cabinet and high-level administration positions.

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

– ref. National security advisers manage decision-making as advocates or honest brokers – https://theconversation.com/national-security-advisers-manage-decision-making-as-advocates-or-honest-brokers-255760

MIL OSI – Global Reports –

May 6, 2025
MIL-OSI USA: IAM Union Adopts Updated Branding in Nod to Proud Past, Bright Future Ahead
Source: US GOIAM Union

WASHINGTON, May 5, 2025 – IAM Union, formally known as the International Association of Machinists and Aerospace Workers, is responding to member feedback by updating its branding in an effort to further meet the needs of a diverse membership.

The rebrand comes after IAM’s Committee on the Future (COTF) held 45 listening sessions in 29 cities across North America, as well as 12 additional online listening sessions, allowing thousands of members to express their views on the future of the union. Among other findings, the COTF recommended that IAM update its name, terminology and brand to reflect the diversity of its membership.

Additionally, in September 2024, delegates to IAM’s 41st International Convention passed a resolution to rebrand the union in a way that honors its 136-year past while becoming more relatable for current and future members from a growing array of backgrounds.

The 600,000-member IAM Union is amongst the most diverse unions in North America. Founded as a railroad union in 1888, the union has continuously grown and adapted to represent workers in the airline, aerospace, defense, manufacturing, automotive and transportation sectors. Today, thanks to large-scale organizing efforts, IAM also represents workers in the healthcare, non-profit, wood, pulp and paper, government, emerging technologies, and other industries.

“IAM Union has always adapted with the times. Our past is a story of continuous change that has led us to become one of the most powerful forces for working people in history,” said IAM International President Brian Bryant. “Now, after hearing from our membership, we are proud to begin our next great chapter under a unified and inclusive umbrella – IAM Union.”

IAM Union’s primary branding changes include:
- While retaining its formal name, the International Association of Machinists and Aerospace Workers, the union will primarily now go by “IAM Union,” or simply, “IAM.” IAM has been a common abbreviation used by members and the public for generations. This is seen now in sectors within IAM, such as IAM Healthcare and IAM Automotive, and will continue to expand.
- IAM Union’s logo, sometimes referred to as a gear, is being adapted, as it has in the past, to welcome members of today and tomorrow, while also honoring the union’s proud history. The updated logo retains its original elements of a flywheel, a friction joint caliper and machinist’s square with the initials of the organization. The union is also adding a wordmark, in its historic primary color of royal blue, that simply and powerfully stakes its claim as “IAM Union” or “IAM.”
- Terminology has been updated within the organization. To further welcome members and for clarity, the highest level of the union is now known simply as the “International.” This change is also reflected in updated staff titles. The three primary levels of the organization will be known simply as “Local,” “District” and “International.”
IAM Union is gradually implementing its branding changes across the organization, and branding guidance is being disseminated to stakeholders.

IAM Union is one of North America’s largest and most diverse labor unions, representing approximately 600,000 active and retired members in the aerospace, defense, airlines, railroad, transit, healthcare, automotive, and other industries.

iamunion.com | @MachinistsUnion

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MIL OSI USA News –
May 6, 2025
MIL-OSI Europe: Notable efforts to address electoral integrity but certain aspects of Romania’s presidential campaign left without sufficient oversight: international observers

Source: Organization for Security and Co-operation in Europe – OSCE

Headline: Notable efforts to address electoral integrity but certain aspects of Romania’s presidential campaign left without sufficient oversight: international observers

Notable efforts to address electoral integrity but certain aspects of Romania’s presidential campaign left without sufficient oversight: international observers | OSCE
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MIL OSI Europe News –

May 6, 2025
MIL-OSI Security: NATO releases strategy to use data for enhancing collective defence

Source: NATO

On Wednesday 30 April 2025, NATO published a public version of its first Data Strategy. Agreed by Allies in February 2025, the strategy aims to accelerate how the Alliance uses data to help achieve interoperability and integration across all operational domains.

Leveraging digital technology helps NATO work more effectively, including through the use of data as a strategic asset. The strategy outlines how to better collect, store, and distribute information across the Alliance with common standards. The requirements will create a secure and impactful data-sharing ecosystem, where the Alliance, industry, and academia will be able to securely access and collaborate – including on artificial intelligence (AI) and machine learning (ML) models – while ensuring Allies retain control over their data.

In the 2022 Strategic Concept, Allies affirmed the need to enhance NATO’s technological edge to further strengthen deterrence and defence, and bolster the Alliance’s commitment for collective defence. At the 2023 Vilnius Summit, Allies endorsed the Digital Transformation Implementation Strategy, which aims to enhance multi-domain operations, drive interoperability across all domains, and strengthen situational awareness and political consultation.

A summary of the strategy is available here.

MIL Security OSI –

May 6, 2025
MIL-OSI: KVH Industries to Host First Quarter Conference Call on May 7, 2025

Source: GlobeNewswire (MIL-OSI)

MIDDLETOWN, R.I., May 05, 2025 (GLOBE NEWSWIRE) — KVH Industries, Inc. (Nasdaq: KVHI), will announce its financial results for the first quarter that ended on March 31, 2025, on Wednesday, May 7, 2025. In conjunction with the release, the company will conduct its investor conference call at 9:00 a.m. ET, hosted by Mr. Brent Bruun, CEO, and Mr. Anthony Pike, CFO.

A live broadcast of the call will be available online at investors.kvh.com. In addition, an audio replay of the conference call will be available on the website for at least two weeks. To listen to the replay, visit investors.kvh.com starting three hours following the conclusion of the call. Investors who wish to submit questions during or following the call may do so to IR@kvh.com.

About KVH Industries, Inc.

KVH Industries, Inc. is a global leader in maritime and mobile connectivity delivered via the KVH ONE^® network. The company, founded in 1982, is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and more than a dozen offices around the globe. KVH provides connectivity solutions for commercial maritime, leisure marine, military/government, and land mobile applications on vessels and vehicles, including the TracNet^®, TracPhone^®, and TracVision^® product lines, the KVH ONE OpenNet Program for non-KVH antennas, AgilePlans^® Connectivity as a Service (CaaS), and the KVH Link crew wellbeing content service.

Contact: Chris Watson

VP, Marketing/Communications

KVH Industries, Inc.

401-845-2441

cwatson@kvh.com

The MIL Network –

May 6, 2025
MIL-OSI Global: Philly’s forgotten history as a hub of anarchism with a thriving radical Yiddish press

Source: The Conversation – USA – By Geoffrey Baym, Professor of Media Studies and Production, Temple University

The first edition of Bread and Freedom came out on Nov. 11, 1906. From the collection of the National Library of Israel, courtesy of Broyt un Frayheyt (Bread and Freedom)

On a late summer day in 1906, a small group of newly arrived Jewish immigrants in Philadelphia took a streetcar across town to Fairmount Park. Several miles from the cramped row houses and oppressive sweatshops of the immigrant quarter of South Philly, the neighborhood now known as Queen Village, they enjoyed a sunny picnic.

They weren’t there to make small talk, though.

Instead, they wanted to write “revolutionary articles” that would spark the “struggle against all that degrades and oppresses humanity,” as one of the leaders of the group, Joseph Cohen, later wrote in his 1945 memoir.

More specifically, the picnicgoers wanted to start a newspaper. It would be titled Broyt un Frayheyt – Yiddish for Bread and Freedom – the anarchist reminder that to live the good life, one needs both.

I’m a professor of media and politics at Temple University in Philadelphia. For the past year I’ve been tracking the life and times of my great-grandfather Max, a radical Yiddish journalist in the early years of the 20th century.

To my surprise, I found he had lived here in Philadelphia, and his story is part of a largely forgotten moment in U.S. history: when Philly was an epicenter of the national anarchist movement, heartily supported by the city’s burgeoning Jewish immigrant community.

Beyond the Russian pale

By 1906, thousands of people like Max had made their way to Philadelphia from the Russian “pale” – the only part of the Russian Empire where they could legally reside. They fled economic isolation and state-sanctioned persecution in search of a more stable life.

South Philly was better than where they had come from, but immigrant life then, as now, was by no means easy. They had escaped a legal regime of oppression and the perpetual threat of antisemitic mob violence. But in turn they found a world of dark alleys and dead ends. Their labor was exploited, their living conditions meager.

For some, the American promise of freedom and prosperity seemed to ring hollow.

They did, however, find one freedom they had not experienced before. They were able to speak, write and publish their ideas no matter how outlandish or against the grain.

And they could do so in Yiddish, the vernacular of daily life but a language of exile – one that in the old world had often been outlawed in print.

The Yiddish press in the United States was experiencing extraordinary growth at the time. In New York, Philadelphia and other cities, newspapers quickly emerged – and often disappeared – month over month.

Jewish anarchists in America

Max moved to Philadelphia in 1906 to work with another immigrant named Joseph Cohen. Cohen had arrived in Philadelphia three years earlier. He earned a scant living making cigars, but his real work was advocating anarchism.

At the dawn of the 20th century, anarchism was not the nihilistic chaos the term may bring to mind today. It was a heartfelt dream of a free and egalitarian society.

The anarchists believed that man-made hierarchies – political, economic and religious – were illegitimate and limited the full expression of humanity. They rejected the authority of the state. That particularly appealed to many Jewish immigrants, for whom laws in the old country had long served as vehicles of oppression.

Cohen had studied this philosophy of local autonomy and communal life with the Philadelphia activist Voltairine de Cleyre.

History may remember Emma Goldman, a Lithuanian-born New Yorker and perhaps the leading voice of American anarchism from that era. But de Cleyre was the heart and soul of Philadelphia’s anarchist scene.

Goldman once described de Cleyre as a “poet-rebel,” a “liberty-loving artist” and “the greatest woman anarchist of America.”

Voltairine de Cleyre in Philadelphia circa 1901.
Wikimedia Commons

A tireless critic of the inequities of the industrial age, de Cleyre had taught herself Yiddish to better serve as “the apostle of anarchism” in the Jewish ghetto.

While de Cleyre could often be found speaking in front of city hall, Max, Cohen and their colleagues were more likely to gather at the corner of Fifth and South streets, the hub of Philadelphia’s Yiddish press and its culture of rambunctious street debate.

By 1906, Cohen had co-founded the anarchist Radical Library in the upstairs rooms at 229 Pine St. This provided the Philadelphia anarchists a meeting space and reading room.

But “the Jewish newspaper men, the radicals and the tireless talkers,” as the Philadelphia historian Harry Boonin wrote, still congregated in the ramshackle cafes lining the 600 block of South Fifth, where they would argue over anarchism and atheism deep into the night.

Competition with NYC comrades

Cohen’s goal was to publish a nationally influential anarchist paper that would give voice to the “comrades from Philadelphia.”

That meant direct competition with the New York Yiddish press and the influential weekly newspaper Freie Arbeiter Stimme, or The Free Voice of Labor. Edited by Saul Yanovksy on Manhattan’s Lower East Side, FAS was the center of the Jewish anarchist movement and of the Yiddish intelligentsia more broadly.

“To be able to say ‘I have written for Yanovsky,’” wrote the sociologist Robert Park in 1922, “is a literary passport for a Yiddish writer.”

Freie Arbeiter Stimme (The Free Voice of Labor) was the intellectual center of the Jewish anarchist movement at the turn of the 20th century.
From the collection of the National Library of Israel, courtesy of Freie Arbeiter Stimme (The Free Voice of Labor)

Although the FAS masthead said the paper was located in New York and Philadelphia, Yanovksy controlled the operation from New York, much to Cohen’s dismay.

The Philadelphia anarchists were also routinely disappointed in Yanovsky’s politics. He was too moderate for their tastes. Yanovsky favored organizing labor and voting in elections, while the Bread and Freedom group, according to Cohen, wanted to cultivate “the militancy and fighting spirit which our young comrades brought with them from cold Russia.” They advocated for more aggressive measures to counter “the submissive indifference of the bourgeoisie and the slavish patience of the workers.”

Cohen had partnered with Yanovsky earlier in 1906 to publish a daily anarchist newspaper. He maintained a small office in the back of Finkler’s cigar store at Fifth and Bainbridge streets. But the paper was printed in New York and delivered back to Philadelphia each morning by courier train.

Cohen wrote in his memoir that he suspected Yanovsky intentionally sabotaged the effort by insisting that he personally write the daily editorial, but then turning in his copy too late for the paper to make the train. After two months the partnership, and the paper, fell apart.

For Cohen, the lesson was that to be the genuine voice of the anarchist movement, he had to print the paper locally in Philadelphia.

A digest of anarchist argument

Editions of the Bread and Freedom anarchist weekly list the Radical Library at 229 Pine St. as its headquarters.
From the collection of the National Library of Israel, courtesy of Bread and Freedom

Bread and Freedom published its first issue on Nov. 11, 1906. The date was symbolic. It was the anniversary of the execution of the “Chicago martyrs” – the four men wrongly sentenced to death for the 1886 bombing at a labor rally at Chicago’s Haymarket Square. The Haymarket affair galvanized the anarchist movement among immigrants, even as it accelerated the wider fear of foreign-born radicalism.

Over the next three months, the newspaper offered a weekly digest of anarchist arguments. It translated into Yiddish Voltairine de Cleyre’s critique of capitalism and what she called its “moral bankruptcy” – its hunger for wealth, power and material possessions. It attacked what de Cleyre called the “dominant idea” of the times – “the shameless, merciless” exploitation of the worker, “only to produce heaps and heaps of things – things ugly, things harmful, things useless, and at the best largely unnecessary.”

In the strongest of terms – “bombastic,” in the words of one local historian – the paper echoed de Cleyre’s call for the “restless, active, rebel souls” of immigrant Philadelphia to rise up to oppose the “great and lamentable error” of industrial capitalism.

Almost as soon as it began, however, Bread and Freedom ran out of money. Its rhetoric was exciting but ineffective. The paper offered no real solutions beyond an impossible demand to dismantle the capitalist state.

Although two members of the group were briefly detained by the police in Baltimore for selling a radical newspaper, their fiery propaganda lit no revolutionary spark.

Instead, it disappeared quietly, folding in January 1907.

Shifting tactics

Even then, a different kind of immigrant was arriving in the U.S. from Russia. Their radical politics were coupled with organizational acumen.

Many of the older anarchists would join forces with these newcomers, and the effort morphed into something more pragmatic. They helped build the foundations of the 20th-century labor movement, which successfully fought for once-radical ideals such as the eight-hour workday and paid sick leave.

Cohen moved to New York and took over as editor of FAS in 1923. That was a tense period for the Jewish left, following the Russian revolution of 1917 and the Communist rise to power. In response, the U.S. government suppressed domestic radicalism, arresting and at times deporting foreign-born leftists, and anarchism fell out of favor.

A few years earlier, though, the streets of South Philly had been home to a vibrant space of free speech and boundless political imagination. It would not last long, but it is a moment I believe is worth remembering.

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

– ref. Philly’s forgotten history as a hub of anarchism with a thriving radical Yiddish press – https://theconversation.com/phillys-forgotten-history-as-a-hub-of-anarchism-with-a-thriving-radical-yiddish-press-252869

MIL OSI – Global Reports –

May 6, 2025
MIL-OSI Canada: Prime Minister Carney speaks with Prime Minister of Australia Anthony Albanese

Source: Government of Canada – Prime Minister

Yesterday, the Prime Minister, Mark Carney, spoke with the Prime Minister of Australia, Anthony Albanese.

The prime ministers congratulated each other on their respective election and re-election. Prime Minister Carney underscored the many areas of close co-operation between Canada and Australia, particularly in trade, defence, and maintaining a free and open Indo-Pacific.

The leaders looked forward to building a stronger relationship between their two nations and agreed to remain in close contact.

Associated Link

MIL OSI Canada News –

May 6, 2025
MIL-OSI Europe: Press release – EP TODAY – Monday, 5 May

Source: European Parliament 3

Last-minute press briefing at 16:30

The Parliament’s Spokesperson and the Press Service will hold a press briefing on this week’s plenary session at 16:30. Follow the last-minute briefing live.

Journalists wishing to take part and ask questions should please connect via Interactio.

Remembering Pope Francis

After the opening of the plenary session, EP President Roberta Metsola will make a statement on the passing of Pope Francis, followed by contributions from one speaker per political group. MEPs will then observe a minute’s silence.

Andreas KLEINER

(+32) 498 98 33 22

EuroParlPress

Estefania NARRILLOS

(+32) 498 98 39 85

EuroParlPress

MEP’s expectations for the EU-UK summit on 19 May

From around 17:45, MEPs, Commissioner Šefčovič and Polish Minister for EU Affairs Szłapka will debate their priorities and demands for the first EU-UK summit on British soil since Brexit. Among other topics, the 19 May summit is expected to focus on defence cooperation, opportunities for young people, and trade issues.

Viktor ALMQVIST

(+32) 470 88 29 42

EP_ForeignAff

In brief

Combating fraud. From around 19:00, MEPs will discuss Parliament’s 2023 report on how to protect the EU’s financial interests and combat fraud with Commissioner Serafin. The vote will take place on Tuesday.

European Investment Bank. From around 20:00, MEPs, EC Vice-President Fitto and Robert de Groot, Vice-President of the European Investment Bank, will assess the Bank’s financial activities in 2023. The vote will take place on Tuesday.

Economic and social cohesion. From around 21:00, Parliament will debate with EC Vice-President Fitto progress and obstacles to economic and social cohesion in the EU. The vote will take place on Thursday.

Live coverage of the plenary session can be found on Parliament’s webstreaming site and on EbS+.

For detailed information on the session, please also see our newsletter.

Find more information regarding plenary.

MIL OSI Europe News –

May 6, 2025
MIL-OSI: Cerence AI and Code Factory Collaborate to Bring Voice-Powered Interaction to Self-Service Kiosks
Source: GlobeNewswire (MIL-OSI)

BURLINGTON, Mass., May 05, 2025 (GLOBE NEWSWIRE) — Cerence Inc. (NASDAQ: CRNC) (“Cerence AI”), a global leader pioneering conversational AI-powered user experiences, today announced an expanded collaboration with its long-time partner and distributor, Code Factory, to introduce VoiceTopping, a new solution that will bring conversational AI to self-service kiosks in a variety of industries. The announcement marks an important step as Cerence AI begins its strategic expansion into new markets, bringing the power of voice interaction to user experiences beyond automotive.

VoiceTopping integrates embedded voice interaction technology into existing self-service kiosks, adding natural, spoken communication that enables users to hear and respond to on-screen information using their voice. Leveraging Cerence conversational AI, including core voice technologies and speech signal enhancement, VoiceTopping will help make engaging with kiosks simpler and more user-friendly, even in noisy environments. The solution will be particularly relevant in restaurant and hospitality, retail and self-checkout, healthcare, transportation, banking, and entertainment settings. With VoiceTopping, a typical user interaction could go as follows:
- Kiosk: Hi, how can I help you today?
- User: Could I see the menu, please?
- Kiosk: Here you go! (Kiosk displays menu on screen.)
- User: Show me the burger selection.
- Kiosk showcases all burgers on screen.
- User: I would like a Pulled Pork Burger – with BBQ sauce and no onions.
- Kiosk: Here you go! (Kiosk adds burger to cart.) Would you like to add a drink, or anything else?
- User: Add a Coke Zero, please.
- Kiosk: Here you go! (Kiosk adds beverage to cart.)
- User: That’s everything – I’m ready to check out.
- Kiosk: Which payment method would you like to use?
- User: Card, please.
- Kiosk shows order total and tip options. User completes the transaction.
- Kiosk: You’re all set!
“With our decades of experience in conversational AI in the car, we are well versed in the power that voice interaction has to transform user experiences across a wide variety of sectors,” said Brian Krzanich, CEO, Cerence AI. “Expanding our long-term partnership with Code Factory to work together to address the self-service kiosk market is a natural evolution of our technology. Our proven solutions are perfectly suited to transform kiosk experiences, making them faster, more intuitive, and more accessible for users across industries.”

For users, VoiceTopping will deliver an enhanced UX that enables them to quickly communicate with the kiosk via voice. In addition, as a touchless solution, VoiceTopping will enhance accessibility, a critical step as accessibility requirements, including the European Accessibility Act (EAA), are coming into effect worldwide. For kiosk manufacturers, integration and deployment will be simple – VoiceTopping is a plug-and-play solution that seamlessly integrates with the kiosk, enabling added capabilities without the need for extensive hardware modifications. Ongoing development efforts are enhancing the technology behind VoiceTopping, bringing improved experiences to users.

“Self-service kiosks are evolving to emulate more human-like interactions, closely replicating the experience of speaking with a human attendant,” said Melanie Endres, CEO, Code Factory. “By leveraging industry-leading voice technology from Cerence AI, VoiceTopping is uniquely positioned for this transformation, enhancing users’ interaction experience with kiosks while also improving manufacturers’ accessibility compliance with evolving regulations in different countries.”

For more information about VoiceTopping, visit www.voicetopping.com/. To learn more about Cerence AI, visit www.cerence.ai, and follow the company on LinkedIn.

About Cerence Inc.
Cerence Inc. (NASDAQ: CRNC) is a global industry leader in creating intuitive, seamless, AI-powered experiences across automotive and transportation. Leveraging decades of innovation and expertise in voice, generative AI, and large language models, Cerence powers integrated experiences that create safer, more connected, and more enjoyable journeys for drivers and passengers alike. With more than 500 million cars shipped with Cerence technology, the company partners with leading automakers, transportation OEMs, and technology companies to advance the next generation of user experiences. Cerence is headquartered in Burlington, Massachusetts, with operations globally and a worldwide team dedicated to pushing the boundaries of AI innovation. For more information, visit www.cerence.ai.

Contact Information

Kate Hickman | Tel: 339-215-4583 | Email: kate.hickman@cerence.com

The MIL Network –
May 6, 2025
MIL-OSI: GraniteShares ETFs Announces Change to the Investment Objective on one of its Inverse Leveraged ETFs

Source: GlobeNewswire (MIL-OSI)

NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) — As announced on March 05, 2025 the investment strategy for the GraniteShares 1x Short COIN Daily ETF (ticker: CONI) will be amended and result in a new fund name and a new leverage factor.

Effective May 05, 2025, CONI will aim to replicate -2 times the daily variations of Coinbase Global, Inc. The fund will be renamed the GraniteShares 2x Short COIN Daily ETF

CONI’s CUSIP, ticker and listing venue are not impacted.

TICKER SYMBOL CURRENT FUND NAME CURRENT LEVERAGE FACTOR NEW FUND NAME NEW LEVERAGE FACTOR

CONI GraniteShares 1x Short COIN Daily ETF -100 % GraniteShares 2x Short COIN Daily ETF -200 %

Coinbase Global, Inc. (COIN) is a financial technology company that provides end-to-end financial infrastructure and technology for the crypto economy.

COIN offers retail users the primary financial account for the crypto economy, institutions a marketplace with a liquidity for transacting in crypto assets, and ecosystem partners technology and services that enable them to build crypto-based applications and accept crypto assets as payment.

ABOUT GRANITESHARES

GraniteShares is an entrepreneurial ETF provider focused on providing innovative, cutting-edge alternative investment solutions. It was founded in 2016 by William “Will” Rhind, a well-known figure in the ETF industry, with backing from Bain Capital Ventures and other leading ETF investors. GraniteShares listed its first ETF in the United States in 2017 and its U.S. ETF offerings include a broad-based commodity index fund, physically backed gold and platinum funds and a high-income pass-through securities index fund.

RISK FACTORS AND IMPORTANT INFORMATION

Link to Prospectus: https://graniteshares.com/media/qhccrfmc/grsh-coni-prospectus-summary.pdf

This material must be preceded or accompanied by a Prospectus. Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. Please read the prospectus before investing.

The Fund is not suitable for all investors. The investment program of the funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by most ETFs and mutual funds. Investments in the ETFs are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage and are willing to monitor their portfolios frequently. For periods longer than a single day, the Fund will lose money if the Underlying Stock’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Stock’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day.

The Fund seeks daily leveraged investment results and is intended to be used as short-term trading vehicles. This Fund attempts to provide daily investment results that correspond to the respective long leveraged multiple of the performance of its underlying stock (a Leverage Long Fund).

Investors should note that such Leverage Long Fund pursues daily leveraged investment objectives, which means that the Fund is riskier than alternatives that do not use leverage because the Fund magnifies the performance of its underlying stock. The volatility of the underlying security may affect a Funds’ return as much as, or more than, the return of the underlying security.

Because of daily rebalancing and the compounding of each day’s return over time, the return of the Fund for periods longer than a single day will be the result of each day’s returns compounded over the period, which will very likely differ from 200% of the return of the Underlying Stock over the same period. The Fund will lose money if the Underlying Stock’s performance is flat over time, and as a result of daily rebalancing, the Underlying Stock volatility and the effects of compounding, it is even possible that the Fund will lose money over time while the Underlying Stock’s performance increases over a period longer than a single day.

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.

An investment in the Fund involves risk, including the possible loss of principal. The Fund is non-diversified and includes risks associated with the Fund concentrating its investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Risks of the Fund include Effects of Compounding and Market Volatility Risk, Leverage Risk, Market Risk, Counterparty Risk, Rebalancing Risk, Intra-Day Investment Risk, Other Investment Companies (including ETFs) Risk, and risks specific to the securities of the Underlying Stock and the sector in which it operates. These and other risks can be found in the prospectus.

This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Please consult your tax advisor about the tax consequences of an investment in Fund shares, including the possible application of foreign, state, and local tax laws. You could lose money by investing in the ETFs. There can be no assurance that the investment objective of the Funds will be achieved. None of the Funds should be relied upon as a complete investment program.

Media Contact:
GraniteShares Inc.
Attn: Media Relations
222 Broadway, 21st Floor
New York, NY 10038
844-476-8747
info@graniteshares.com

The MIL Network –

May 6, 2025
MIL-OSI Security: General Langley Engages with Leaders in Côte d’Ivoire

Source: United States AFRICOM

Gallery contains 3 images

Photo 1 of 3

General Langley Engages with Leaders in Côte d’Ivoire

Front Row L-R Chief of Defence Staff Gen. Lassina Doumbia, AFRICOM Commander Gen. Michael Langley, Minister of Defence Téné Birahima Ouattara, U.S. Ambassador Jessica Davis Ba, National Security Advisor Fidele Sarassoro. Back Row: Director General of Strategic Affairs Brig. Gen. Bakary Diarassouba, and U.S. Defense Attaché Lt. Col. Thomas Dyrenforth

Photo 2 of 3

General Langley Engages with Leaders in Côte d’Ivoire

Minister of Defense Téné Birahima Ouattara and AFRICOM Commander Gen. Michael Langley

Photo 3 of 3

General Langley Engages with Leaders in Côte d’Ivoire

L-R: Ivoirian National Security Advisor Fidele Sarassoro, U.S. Ambassador Jessica Davis Ba, Minister of Defence Téné Birahima Ouattara, AFRICOM Commander Gen. Michael Langley, Chief of Defence Staff Gen. Lassina Doumbia

U.S. Marine Corps Gen. Michael Langley, commander of U.S. Africa Command, traveled to Côte d’Ivoire, April 24-25, to meet with Ivorian leaders and deliver remarks at the opening ceremony of Flintlock 25, the command’s annual combined special operations exercise.

At the opening ceremony, General Langley highlighted the importance of joint exercises like Flintlock in enhancing the readiness and lethality of participating forces. He emphasized that this increased capability is crucial for deterring terror organizations and other malign actors operating from Africa.

Later, Langley and U.S. Ambassador Jessica Davis Ba met with Côte d’Ivoire’s Minister of Defence Téné Birahima Ouattara and Chief of Defence Staff Lt. Gen. Lassina Doumbia. The leaders discussed security cooperation opportunities to counter transnational threats and emphasized Côte d’Ivoire’s role as a security leader in the region.

AFRICOM is one of seven U.S. geographic combatant commands, responsible for military engagement across 53 African nations. Working with partners and allies, the command counters malign actors and transnational threats, responds to crises, strengthens African security forces, and supports U.S. government efforts in Africa to advance U.S. national interests and promote regional security, stability, and prosperity.

MIL Security OSI –

May 6, 2025

MIL-OSI: Articles of Association for Ringkjøbing Landbobank A/S

Source: GlobeNewswire (MIL-OSI)

Articles of Association

for Ringkjøbing Landbobank A/S

Company reg. (CVR) no. 37536814

5 March 2025

Name, registered office and object

Art. 1

The bank’s name shall be ”Ringkjøbing Landbobank, Aktieselskab”. The bank’s domicile shall be the municipality of Ringkøbing-Skjern.

The bank’s object shall be to carry out banking business and other activities permitted by the relevant legislation in order to create a sound and healthy bank for its sphere of activities via solid and cost-efficient operations.

The bank shall also operate under the secondary names of:

• Nordjyske Bank A/S
• A/S Egnsbank Nord
• Folkebanken for Frederikshavn og Omegn Aktieselskab
• Aktieselskabet Frederikshavns Bank
• Aktieselskabet Skagens Bank
• Aktieselskabet Sæby Bank
• Vendsyssel Bank A/S
• A/S Handels- og Landbrugsbanken i Hjørring
• Lokalbanken i Hjørring A/S
• Lokalbanken i Vendsyssel A/S
• Øster Brønderslev Sparekasse A/S
• Hallund Sparekasse A/S
• Brønderslev Sparekasse A/S
• A/S Nørresundby Bank
• A/S Banken for Nørresundby og Omegn
• Aktieselskabet Tarm Bank
• Egnsbank Vest A/S

The bank’s capital and shares

Art. 2

The bank’s share capital shall be nom. DKK 25,391,697 in shares of nom. DKK 1.

Art. 2a

The general meeting has decided to authorise the board of directors to increase the share capital in one or more rounds by up to nom. DKK 5,078,339 with right of pre-emption for the bank’s existing shareholders. The capital increase shall be fully paid up in cash. The capital increase may be below the market price. This authorisation shall apply until 4 March 2030.

Art. 2b

The general meeting has decided to authorise the board of directors to increase the share capital in one or more rounds by up to nom. DKK 2,539,169 without right of pre-emption for the bank’s existing shareholders. The capital increase may be by cash payment or contribution of an existing company or specific asset values corresponding to the value of the shares issued. The capital increase shall be fully paid up at the market price ascertained by the board of directors. This authorisation shall apply until 4 March 2030.

Art. 2c

If the share capital is increased in accordance with Articles 2a and 2b, the board of directors shall determine the terms and conditions for subscription, including the time, matters relating to subscription, subscription price and the time from when the new shares carry a right to dividend. The board of directors may use the authorisations under Articles 2a and 2b to increase the share capital by a maximum of nom. DKK 5,078,339 in total.

Art. 2d

Shares for which subscription is made under the Articles 2a and 2b shall be negotiable securities and shall be registered in the holder’s name. The board of directors shall determine the extent to which the shares for which subscription is made under the specified articles carry the right to dividend from the year of subscription, and the shares shall also be subject to the same rules applying to the other shares with respect to rights, redeemability and negotiability. Finally, there shall be no limitations under the Article 2a and under the Article 2b to the subscribed shares’ right of pre-emption under Article 2a on future increases.

Art. 2e

The general meeting authorises the board of directors to make the requisite amendments to the Articles of Association required by the capital increases under the Articles 2a and 2b.

Art. 3

The shares shall be issued by name.
The shares shall be negotiable instruments.
No shareholder shall be obliged to permit redemption of his or her shares in whole or in part.
There shall be no limitations to the negotiability of the shares.
No shareholder shall have special rights.

The bank’s share register is VP Securities A/S, CVR no. 21599336.

Art. 4

Lost shares, interim certificates, certificates of right of pre-emption, partial certificates, coupons and counterfoils may be cancelled by the bank without a court order under the current rules applying to shares which are negotiable instruments. The costs of cancellation shall be payable by the person who makes the request.

The bank’s management

The bank’s affairs shall be managed by:

1. The general meeting

2. The shareholders’ committee

3. The board of directors

4. General management

The general meeting

Art. 5

The ordinary general meeting shall be held in Ringkøbing each year before the end of March.

The board of directors may decide to hold all or part of a general meeting electronically, if the board of directors considers this to be appropriate and provided that proper conduct of the meeting is thereby assured and that other legal requirements for a partly or fully electronic general meeting are fulfilled. At electronic general meetings the shareholders may attend, speak and vote by electronic means. Details regarding registration and procedures for electronic attendance will be made available on the bank’s website and in the notice of the relevant general meeting.

Extraordinary general meetings shall be held as decided by the general meeting, the shareholders’ committee, the board of directors, auditor, or at the request of shareholders who own one-twentieth (1/20) of the share capital.

Art. 6

Notice of the general meeting shall be given by the board of directors by announcement on the bank’s website. Notice in writing shall also be given to all shareholders listed in the share register who have so requested.

The notice of meeting, which shall include the agenda for the general meeting, shall be given at the earliest five (5) weeks and at the latest three (3) weeks before the meeting.

Proposals from shareholders for consideration at an annual general meeting shall be received by the chair of the shareholders’ committee at the latest six (6) weeks before the date of the general meeting.

The agenda and all proposals for consideration by the general meeting shall be made available to the shareholders on the bank’s website at the latest three (3) weeks before the meeting. In the case of the annual general meeting, the annual report including auditor’s report and management’s report and any consolidated accounts shall also be made available to the shareholders on the bank’s website. The annual report shall be sent to each listed shareholder who has so requested.

The press shall be entitled to attend the general meeting.

Art. 6a

The bank’s board of directors may decide that under Article 6 of the Articles of Association, annual reports may be sent electronically by e-mail to shareholders who are listed by name. The board of directors may further decide that admission cards may be ordered and proxies may be submitted via e-mail or on the bank’s website or that of the bank’s share register operator. The decision of the board of directors on the use of electronic communication under this Article 6a shall be announced on the bank’s website: www.landbobanken.dk. The bank shall request the e-mail addresses of those shareholders who are listed by name and to whom notices in electronic form can be sent. The shareholder shall be responsible for ensuring that the bank is in possession of the correct e-mail-address. Further information of a technical nature and on the procedure in connection with the electronic communication in question will be available to shareholders on the bank’s website if the board of directors should decide to implement this.

Art. 7

The agenda for the ordinary general meeting shall include:

1. Election of chairperson.

2. The board’s report on the bank’s activities in the previous year.

3. Presentation of the annual report for approval.

4. Decision on allocation of profit or covering of loss under the approved annual report.

5. Consultative vote on the remuneration report.

6. Approval of the remuneration of the board of directors for the current financial year.

7. Election of members to the shareholders’ committee.

8. Election of one or more auditors.

9. Authorisation for the board of directors to permit the bank to acquire its own shares.

10. Any proposals from the board of directors, the shareholders’ committee or shareholders.

Art. 8

The general meeting shall elect a chairperson by simple majority vote. The chairperson shall conduct the business of the meeting and rule on all questions of procedure, voting and the results of voting. Voting shall be in writing unless the meeting adopts a different procedure.

Art. 9a

Each shareholder eligible and intending to be present at a general meeting in accordance with Article 9b shall notify the bank accordingly no later than three (3) days before the meeting.

Each share of nom. DKK 1 shall carry one (1) vote when the share is recorded in the bank’s share register, or when the shareholder has reported and documented his or her right. However, a shareholder may cast no more than 3,000 votes.

Art. 9b

A shareholder’s right to attend and vote at a general meeting shall be determined in accordance with the shares possessed by the shareholder on the date of registration. The registration date shall be one (1) week before the general meeting. The shares held by the individual shareholder on the registration date shall be counted on the basis of the listing of the shareholder’s capital in the share register and information on the ownership which the bank and/or the share register operator has received in connection with the recording in the share register, but which has not yet been entered in the share register.

Art. 10

All matters shall be decided at the general meeting by simple majority vote unless otherwise provided by law or these Articles of Association.

A decision to amend the Articles of Association or to dissolve the bank shall only be valid if approved by at least two-thirds (2/3) of both votes cast and the share capital represented at the meeting.

Art. 11

The board of directors is authorised to decide to distribute extraordinary dividends in one or more rounds.

The shareholders’ committee

Art. 12

The bank’s shareholders’ committee shall be elected at the general meeting by and from among the shareholders. The size of the shareholders’ committee shall be determined jointly by the committee and the board of directors, however with a minimum of thirty-seven (37) and a maximum of forty-two (42) members.

The members of the shareholders’ committee shall be elected for two (2)-year terms. Re-election shall be permitted.

The shareholders’ committee shall elect its chairperson and deputy chairperson each year.

Shareholders who have reached the age of sixty-seven (67) may not be elected, and members of the shareholders’ committee shall retire from their positions at the first ordinary general meeting following their sixty-seventh birthday.

Art. 13

The shareholders’ committee shall normally meet at least twice a year and otherwise as often as the chairperson considers necessary or half of the members or the board of directors so request. Meetings of the shareholders’ committee shall be convened by the chairperson on at least eight (8) days’ notice.

A quorum shall not exist unless over half of the members are present. Decisions shall then be taken by simple majority vote.

Meetings of the shareholders’ committee shall be presided by the chairperson or, in the chairperson’s absence, by the deputy chairperson. Members of the bank’s board of directors who are not also members of the shareholders’ committee shall be entitled to participate in meetings of the committee but shall not be entitled to vote.

Art. 14

A report on the bank’s activities in the preceding period shall be presented at meetings of the shareholders’ committee, and the latest quarterly report sheet shall be reviewed.

The shareholders’ committee shall work to ensure the bank’s prosperity and shall assist the board of directors and the general management to the best of its ability by procuring any information which the board of directors and the general management may require. The shareholders’ committee shall fix the board’s payment and shall decide on the establishment of branches as recommended by the board of directors.

The shareholders’ committee shall not check the accuracy of the annual report.

The board of directors

Art. 15

The board of directors shall consist of at least six (6) and at most ten (10) members who shall be elected by the shareholders’ committee.

The board of directors shall also include the members who may be prescribed by law.

Board members shall be elected for two (2)-year terms. Re-election shall be permitted.

The board of directors shall elect its chairperson and up to two deputy chairpersons each year.

A board member’s membership of the board shall cease if he or she resigns or retires from the shareholders’ committee.

Board members elected by the shareholders’ committee shall retire from the board at the first ordinary general meeting following the date on which the member reaches the age of sixty-seven (67).

The bank has established a voluntary arrangement regarding employee representation on the board of directors. The voluntary arrangement shall remain in force unless it ceases under the rules of the executive order on employee representation in force at any time. This provision on employee representation in this Article shall automatically lapse if the voluntary arrangement regarding employee representation lapses.

Art. 16

The board of directors shall specify procedures containing rules for the carrying out of its activities. A quorum shall not exist unless more than half the board members are present.

Minutes of the board’s proceedings shall be kept and signed by all members present.

The board of directors shall specify the extent to which management may make loans without the board’s prior participation.

The board of directors may grant collective power to bind the company.

General management

Art. 17

The general management, which is appointed by the board of directors, shall consist of one or more general managers, one of whom shall be chief executive officer.

The general management shall participate – but without the right to vote – in meetings of the board of directors and the shareholders’ committee.

Power to bind the company

Art. 18

The bank shall be bound by the signatures of

1. Two (2) members of the board of directors in conjunction.

2. One (1) member of the board of directors in conjunction with one (1) general manager.

3. Two (2) general managers in conjunction.

Auditing

Art. 19

The audit shall be carried out by one or more auditors elected by the general meeting, however, at least such number as is required under the Danish Financial Business Act, and the auditors shall comply with the requirements specified in the Act. The election applies for one (1) year at a time.

The auditors’ remuneration shall be set by the board of directors.

The annual report

Art. 20

The bank’s financial year shall be the calendar year.

After any loss from previous years has been covered, the net profit shall be allocated as follows:

The remaining sum plus amounts carried forward shall be used as decided by the general meeting. The meeting may not, however, decide upon a higher dividend than that proposed or approved by the board of directors.

Ringkøbing, 5 March 2025

Disclaimer:
“This document is a translation of an original document in Danish. The original Danish text shall be the governing text for all purposes and in case of any discrepancy the Danish wording shall be applicable.”

Attachment

Articles of Association 2025 v2 EN

The MIL Network –

May 6, 2025

MIL-Evening Report: Viral video shows Fiji prison chief throwing punches at Suva bar

RNZ Pacific

The head of Fiji’s prison service has been caught on camera involved in a fist fight that appears to have taken place at the popular O’Reilley’s Bar in the capital of Suva.

Sevuloni Naucukidi, the acting Commissioner of the Fiji Corrections Service (FCS), can be seen in the viral video throwing punches at another man as staff at the establishment scramble to contain the situation.

The 30-second clip of the incident, shared online by The Fiji Times today, had been viewed more than half a million times, with more than 8200 reactions and almost 2000 shares by 1pm (NZT).

Naucukidi was appointed to act as the Fiji prison chief at the end of March after the FCS Commissioner Dr Jalesi Nakarawa was stood down by the Constitutional Offices Commission following allegations of misbehaviour.

Fiji’s Minister for Justice Siromi Turaga (left) and Correction Service acting Commissioner Sevuloni Naucukidi on 30 March 2025. Image: Fiji Corrections Service/RNZ Pacific

Police spokesperson Wame Boutolu told The Fiji Times that no complaint had been filed with police regarding the incident.

The newspaper reported that it was not clear whether the incident took place before or after Naucukidi’s appointment as FCS acting commissioner.

This article is republished under a community partnership agreement with RNZ.

The Fiji Times reported later that Justice Minister Siromi Turaga had said that a “certain level of decorum is expected at all times — particularly when in uniform, whether that be Bula Friday wear or your official work attire”.

He made the comments in relation to the controversial video.

Turaga said preliminary investigations indicated that the footage was from an earlier date.

“We have contacted the owners of the establishment, who have confirmed that the video likely dates back to early March 2025,” he said.

[embedded content]

The Fiji Times video clip.

MIL OSI Analysis – EveningReport.nz –

May 5, 2025
MIL-Evening Report: PINA on World Press Freedom Day – facing new and complex AI challenges

By Kalafi Moala in Nuku’alofa

On this World Press Freedom Day, we in the Pacific stand together to defend and promote the right to freedom of expression — now facing new and complex challenges in the age of Artificial Intelligence (AI).

This year’s global theme is “Reporting a Brave New World: The impact of Artificial Intelligence on Press Freedom.”

AI is changing the way we gather, share, and consume information. It offers exciting tools that can help journalists work faster and reach more people, even across our scattered islands.

But AI also brings serious risks. It can be used to spread misinformation, silence voices, and make powerful tech companies the gatekeepers of what people see and hear.

In the Pacific, our media are already working with limited resources. Now we face even greater pressure as AI tools are used without fair recognition or payment to those who create original content.

Our small newsrooms struggle to compete with global platforms that are reshaping the media landscape.

We must not allow AI to weaken media freedom, independence, or diversity in our region.

Respect our Pacific voices
Instead, we must ensure that new technologies serve our people, respect our voices, and support the role of journalism in democracy and development.

Today, PINA calls for stronger regional collaboration to understand and manage the impact of AI. We urge governments, tech companies, and development partners to support Pacific media in building digital skills, protecting press freedom, and ensuring fair use of our content.

Let us ensure that the future of journalism in the Pacific is guided by truth, fairness, and freedom — not by unchecked algorithms.

Happy World Press Freedom to all media workers across the Pacific!

Kalafi Moala is president of the Pacific Islands News Association (PINA) and also editor of Talanoa ‘o Tonga. Republished from TOT with permission.

MIL OSI Analysis – EveningReport.nz –

May 5, 2025

MIL-OSI: NNIT A/S: NNIT adjusts 2025 outlook and publishes Q1 figures

Source: GlobeNewswire (MIL-OSI)

The first quarter financial performance was expected to be moderate, but the increased macroeconomic and geopolitical uncertainty has impacted NNIT to a larger extent than expected. Based on the realized results and the continued uncertainty, NNIT adjusts the 2025 financial outlook.

Given the current uncertainty, organic revenue growth is expected to be 0% to 5% (previously 7% to 10%), which is due to postponement of projects and the sales pipeline materializing at a slower pace than planned as customers are hesitating to engage in new contracts, especially within Life Science. Expectations for the Group operating profit margin excluding special items are maintained at 7% to 9% as NNIT is significantly reducing its cost base by adjusting capacity and lowering general spending across regions and on corporate level. Special items are expected to be up to last year’s level of DKK 69m (previously expected to be below the 2024 level) mainly driven by further restructuring costs.

NNIT generated Q1 2025 Group revenue of DKK 464m (Q1 2024: DKK 463m). The organic growth was negative by 0.8% (Q1 2024: 8.0%) due to Region Europe and Region US. Group operating profit excl. special items was DKK 18m (Q1 2024: 24m), equal to a margin of 3.9% (Q1 2024: 5.2%). Profit and margin were mainly impacted by Region Europe and a decrease in Region Denmark driven by overcapacity following the postponement of a large contract, which has been signed in Q2, and the loss of a large public tender. Special items for the Group amounted to DKK 25m (Q1 2024: income DKK 11.3m) primarily driven by restructuring costs.

Financial figures, DKK million	Q1 2025	Q1 2024	FY 2024
GROUP
Revenue	464	463	1,851
Group operating profit excl. special items	18	24	117
Group operating profit margin excl. special items	3.9%	5.2%	6.3%
Special items	25	-11	69

REGION EUROPE
Revenue	119	126	512
Regional operating profit	12	14	67
Regional operating profit margin	10.0%	11.2%	13.0%

REGION US
Revenue	87	93	346
Regional operating profit	26	18	73
Regional operating profit margin	30.4%	19.0%	21.2%

REGION ASIA
Revenue	37	32	149
Regional operating profit	3	-2	8
Regional operating profit margin	7.6%	-5.3%	5.2%

REGION DENMARK
Revenue	221	212	844
Regional operating profit	33	48	151
Regional operating profit margin	15.1%	22.6%	17.9%

Despite the adjustment of expectations for organic growth, NNIT maintains expectations for the Group operating profit margin excl. special items to reach 7% to 9%. NNIT has executed several cost reducing initiatives, which include capacity adjustments across the group, to minimize the impact on profitability.

NNIT will publish the Q1 2025 trading statement on May 5, 2025, one day earlier than planned.

For more information, please contact:

Investor Relations
Carsten Ringius
EVP & CFO
Tel: +45 3077 8888
carr@nnit.com

Media Relations
Thomas Stensbøl
Press & Communications Manager
Tel: +45 3077 8800
tmts@nnit.com

ABOUT NNIT

NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and private sectors in Denmark.

We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.

We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.

We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology.

NNIT consists of group company NNIT A/S and the subsidiary SCALES. Together, these companies employ more than 1,700 people in Europe, Asia and USA.

Attachment

NNIT_Company announcement__NNIT adjusts FY25 outlook

The MIL Network –

May 5, 2025

MIL-OSI: NNIT A/S: Business performance impacted by market undercetainty expected to continue. Mitigating actions taken to protect profitability

Source: GlobeNewswire (MIL-OSI)

Q1 2025 key highlights

Financial performance for the first quarter was expected to be moderate, but macroeconomic and geopolitical uncertainty increased, which impacted NNIT. The uncertainty has influenced customer behavior, especially in the three regions focusing on IT Life Science solutions, where several projects have been postponed, most predominantly in Region Europe. Group revenue amounted to DKK 464.1m, entailing flat revenue growth compared with last year.
Despite improving utilization and capacity adjustments made across regions during the quarter as well as tight cost focus across business areas, the group operating profit excl. special items declined to DKK 18.0m in Q1 2025 compared with DKK 23.9m in the same quarter last year. The decline was due to the lower profit generation in Region Europe and Region Denmark, partly offset by improved profitability performance in Region US and Region Asia. Group operating profit margin excl. special items was 3.9% in Q1 2025 compared with 5.2% in the same quarter last year.
Region Denmark growth around 4% where selected solution areas focusing on the Public sector in Denmark, is showing growth upwards at 8%. SCALES also contributed to the growth in region Denmark solidifying its position as a leader within D365 solutions.
Special items amounted to DKK 25.3m in Q1 2025 covering restructuring costs of DKK 20m impacting all regions, earn-out payments of DKK 3m, and IT systems and integration costs amounting to around DKK 2m.
The financial outlook for 2025 was adjusted on May 5, 2025 cf. company announcement 04/2025 as the current macroeconomic and geopolitical landscape has deteriorated materially since the full-year outlook communicated in February. NNIT expects to be further affected by current uncertainty why the organic growth range was adjusted to 0% to 5% (previously 7% to 10%). Group operating profit margin excl. special items was maintained at 7% to 9% due to significant cost reducing initiatives with most already having been executed. As a result of lower revenue generation caused mainly by external factors, NNIT expects to incur additional restructuring costs as special items. Special items are expected to be at up to last year’s level of DKK 69m (previously expected to be significantly below the 2024 level).

The first quarter was more severely affected by uncertainty than expected at the beginning of the year. Hesitance among several customers of NNIT has resulted in less revenue and sales as projects are being postponed. In general, NNIT has taken action to adjust capacity to fit the current demand with several reductions completed in 2024 and leaving NNIT in a stronger position going into 2025. However, it has been necessary to take further actions to mitigate the business impact from lower revenue generation with a reduction of around 100 employees in Q1 2025. Furthermore, NNIT has carried out several cost-reducing initiatives such as putting new employments on hold and limiting all discretionary spending to a minimum with full impact from the second quarter.

Given the current macroeconomic environment and geopolitical unrest, NNIT continues to expect that its customers will be affected, which is reflected in the adjusted full-year financial outlook.

Pär Fors, CEO of NNIT, comments: “The business environment of NNIT has deteriorated in the first quarter of the year as especially our Life Science customers are being negatively impacted by the macroeconomic unrest. Customers are hesitant to engage in new contracts before things are stabilizing, and we are navigating this environment to continue our strategic journey at NNIT. However, the impact from the uncertainty is more severe than initially expected, why the full-year outlook has been adjusted.”

Financial overview – Selected key figures

NNIT A/S, DKK million	Q1 2025	Q1 2024	FY 2024
Revenue	464.1	463.4	1,851
Revenue growth, %	0.2%	12.2%	23.4%
Revenue growth, organic %	-0.8%	8.0%	10.8%
Group operating profit excl. special items	18.0	23.9	117
Group operating profit margin excl. special items, %	3.9%	5.2%	6.3%
Special items	.25.3	11.3	-69
Group operating profit incl. special items	-7.3	35.2	48
Group operating profit margin incl. special items, %	-1.6%	7.6%	2.6%

Free cash flow	-73	-166	-40

Conference call

May 6, 2025, at 3:00 PM CEST: Webcast link

Dial in information:
DK: +45 78 76 84 90
SE: +46 31-311 50 03
UK: +44 20 3769 6819
US: +1 646 787 0157
Participant Access code: 472855

For more information, please contact:

Investor Relations
Carsten Ringius
EVP & CFO
Tel: +45 3077 8888
carr@nnit.com

Media Relations
Thomas Stensbøl
Press & Communications Manager
Tel: +45 3077 8800
tmts@nnit.com

ABOUT NNIT

NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and private sectors in Denmark.

We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.

We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.

We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies but always driven by business needs rather than technology.

NNIT consists of group company NNIT A/S and the subsidiary SCALES. Together, these companies employ more than 1,700 people in Europe, Asia and the USA.

Attachments

The MIL Network –

May 5, 2025

MIL-OSI United Kingdom: Universal Periodic Review 49: UK Statement on Sweden
Source: United Kingdom – Government Statements

World news story

Universal Periodic Review 49: UK Statement on Sweden

UK Statement on Sweden, delivered at Sweden’s Universal Periodic Review at the Human Rights Council in Geneva.
Thank you, Mr Vice President.

The United Kingdom welcomes Sweden’s long-standing commitment to promoting and protecting human rights. The creation of the Swedish Institute for Human Rights is an important and positive development. We commend Sweden’s steadfast contribution to human rights internationally.

We recommend that Sweden:

Ensures the institutional independence and provision of sustainable resourcing for the Swedish Institute for Human Rights, so that it delivers on its mandate to promote and protect human rights in Sweden.

Works with The Truth Commission for the Sami People to ensure its forthcoming proposals to redress and promote reconciliation are considered in good faith and fairly implemented.

Continues to combat gender-based violence and oppression, including through implementation of the government action plan.

The UK thanks the delegation for their participation in this review meeting.

Thank you.

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Updates to this page

Published 5 May 2025
MIL OSI United Kingdom –
May 5, 2025
MIL-OSI Russia: Delegation of the Kyrgyz-Russian Slavic University visited the Open Education Center of SPbPU

Translation. Region: Russian Federal

Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

Representatives of the Kyrgyz-Russian Slavic University once again visited Peter the Great St. Petersburg Polytechnic University and its Open Education Center. The guests learned how the Open Polytechnic Distance Learning System (DLS) works, how educational video programs are created, and much more.

The KRSU delegation included: Head of the Department of Artistic Design of Products Maksat Maksutova, Associate Professor of the Department of Fundamentals of Architectural Design and Fine Arts Zarina Muksinova, Associate Professor of the Department of Information and Computing Technologies Irina Khmeleva, Senior Lecturer of the Department of Physics and Microelectronics Andrey Malkin and Senior Lecturer of the Department of Architectural Environment Design Yulia Rudenko.

Director of the SPbPU Open Education Center Svetlana Kalmykova introduced the guests to the possibilities of using online courses in the main educational process. Educational and methodological specialists Larisa Kovtunovich and Margarita Sergeeva spoke about the organization of the distance learning system. The delegation was particularly interested in the selection of tools and resources of the Open Polytech LMS for the existing educational materials, as well as the possibilities of assessing and building individual student learning trajectories.

Timur Khludeev, Head of the Electronic Resource Development Department at the Open Education Center, shared with his colleagues from KRSU the basics of video production for educational activities. They discussed what an educational video is, how it differs from other formats, and studied trends in this area. They discussed the technical nuances of building video studios for recording educational content. In addition, the guests tried themselves as authors and independently recorded several video lectures in the Open Education Center studio and in a self-recording studio.

An online advanced training course “Tools for Content Development and Organization of Electronic Learning Service” was also opened for KRSU employees, with almost 150 participants.

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

MIL OSI Russia News –

May 5, 2025
MIL-OSI Global: A basic income support grant can address extreme poverty and inequality in South Africa – economic model shows how
Source: The Conversation – Africa – By Carolyn Chisadza, Associate professor, University of Pretoria

South Africa remains one of the most unequal countries in the world. The country’s per-capita expenditure Gini coefficient, a measure of how spending from income is distributed, stands at 0.65. This puts it among countries with the most unequal distribution of spending globally.

Nearly 55% of the population were living in poverty in 2023. The country also has one of the highest unemployment rates in the world: 33.5% in the second quarter of 2024. To compound these issues, economic growth has stagnated since 2008.

Ending extreme poverty, unemployment and inequality requires economic growth that includes more people. To get that result, there must be a set of interventions that work together. One intervention being considered in South Africa is basic income support to relieve poverty among unemployed citizens.

Prior to the COVID-19 pandemic, basic income support had been on the policy agenda in South Africa for at least two decades, since the Taylor Committee in 2001. The pandemic made existing inequalities worse through job losses. A “social relief of distress” grant was introduced in 2020 to support the unemployed.

The grant targeted those affected by sudden income loss, including unemployed working-age individuals who did not qualify for other grants. The introduction of the grant renewed interest in the concept of a universal basic income, or a more comprehensive form of income support. It highlighted the welfare potential for a more permanent basic income support system.

Very few cases of universal basic income support pilots exist in developing countries. Where they do exist, studies point to the vital benefits a basic income grant system might provide. Examples include evidence from a pilot in Namibia, nine villages in India, and rural Kenya.

In a recently published paper, a team of economists explored the possible effects of introducing permanent basic income support to:
- all individuals aged between 18 and 59
- only those who are unemployed
- only unemployed individuals in extremely poor households, defined by the food poverty line.
The economic modelling exercise demonstrates that a basic income grant targeting all individuals aged between 18 and 59 could significantly reduce poverty and inequality. These gains would, however, require carefully targeted and implemented interventions over a multi-year period.

Our approach

The study identifies which socio-economic groups would benefit the most from the grant, and sheds light on the impact of basic income support on the welfare and livelihoods of individuals and their households. We used market income or pre-transfer income as the starting point to see how public spending changed poverty or income inequality.

We used data from the 2017 Quarterly Labour Force Survey, a measure of employment and unemployment based on the country’s working population. Using the three scenarios, we calculated the likely effects.

The first scenario was based on the universal grant being paid to all those aged 18 to 59. In the second, only those aged 18-59 who were unemployed received it. Lastly, only those who lived in extremely poor households and were unemployed in 2017 were included.

Some form of support exists for children under 18 (child grant) and for adults aged 60 and over (pension). That’s why we allocated the grant only for adults from 18 to 59.

In all the scenarios, the income support transfer is assumed to be R595 (US$38) per individual per month in 2021, equivalent to what it cost to provide a basic basket of food (that is, the food poverty line). We use R595 as it closely aligns with the COVID social relief of distress grant extension and reflects the grant amount for the 2021/22 financial year.

Main findings

The main findings show that in general, a basic income support grant has the potential to reduce poverty and inequality in South Africa. However, the effect varies based on the targeting mechanism used to identify beneficiaries. Absolute poverty, its gap (the ratio by which the mean income of the poor falls below the poverty line) and income inequality fall the most when the transfer is universal or targets the unemployed and the extreme poor.

In the first scenario (support for all individuals aged 18 to 59) and the third scenario (the unemployed and extremely poor), both poverty headcount (the percentage of the population living below the national poverty line) and the poverty gap (the ratio by which the mean income of the poor falls below the poverty line) decrease more than in the second scenario (targeting only the unemployed). The income inequality reduction is also larger in the first and third scenarios compared to the second scenario.

Significance of findings

The significance of these findings is that better targeting makes basic income support more pro-poor and progressive, and reduces the leakage of the benefit to the non-poor.

In countries such as South Africa, where poverty and inequality are extensive and public resources are limited, the case for targeting is attractive. But it’s important to recognise that effective targeting entails higher administrative costs. Conversely, while a universal basic income grant may be more expensive in terms of total disbursement, it has the greatest potential to reduce poverty and overall inequality.

The government can make the best use of its resources by focusing on vulnerable populations, such as those who are extremely poor and unemployed.

Finding the right criteria to identify the poor, and running the grant properly, largely determines the programme’s success in improving welfare.

Concluding remarks

South Africa is currently saddled with high poverty and inequality. Our study brings the debate on the potential welfare benefits of expanding existing social grants back to the forefront of social policy.

Eleni Abraham Yitbarek is affiliated with Partnership for Economic Policy (Research Fellow)

Carolyn Chisadza, Kehinde Oluwaseun Omotoso, Margaret Chitiga-Mabugu, Nicky Nicholls, and Ramos Emmanuel Mabugu do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. A basic income support grant can address extreme poverty and inequality in South Africa – economic model shows how – https://theconversation.com/a-basic-income-support-grant-can-address-extreme-poverty-and-inequality-in-south-africa-economic-model-shows-how-247954
MIL OSI – Global Reports –
May 5, 2025
MIL-OSI United Kingdom: DUP Sea Border Spin Exposed: Deputy First Minister Admits “Hugely Politically Embarrassing” Truth

Source: Traditional Unionist Voice – Northern Ireland

Statement by TUV Leader and North Antrim MP Jim Allister:

“This morning’s Belfast Telegraph article lays bare the desperate spin the DUP has deployed to conceal the reality of the Irish Sea border. The panic of Deputy First Minister Emma Little-Pengelly when her own department advertised for a ‘Divergence Co-ordinator’ confirms what TUV has said all along: the border remains and Stormont is helping to implement it.

“The role was designed to manage and implement divergence between Northern Ireland and the rest of the United Kingdom, something which would not be necessary if the Irish Sea border were truly gone.

“Yet the deputy First Minister’s reaction focused not on the substance of the divergence, but on the optics. Her concern wasn’t that Northern Ireland is being separated from Great Britain — it was that people will notice.

“What we see here is a party obsessed with damage control, not damage repair. It shows a DUP more concerned with hiding the truth than confronting the constitutional implications of the Protocol they are now helping to administer.

“Their return to Stormont was built on the claim that the Sea Border had been removed. New barriers, like the parcel border, continue to emerge.

“It is time the DUP stopped insulting the intelligence of the unionist electorate. You cannot ‘safeguard the Union’ by implementing its dismantling.

“If the DUP were serious about opposing the Protocol, they wouldn’t be sitting in a Protocol-implementing Executive. Not only are they doing that but, as this article shows, the deputy First Minister is using her position in government to try to conceal the truth.

“Emma Little-Pengelly called this episode ‘hugely politically embarrassing’. And so it is.

“If the DUP return to power wasn’t built on lies, it wouldn’t be so embarrassing to tell the truth.”

MIL OSI United Kingdom –

May 5, 2025
MIL-OSI Europe: Written question – Transparency and labelling obligations – E-001650/2025
Source: European Parliament
Question for written answer E-001650/2025
to the Commission
Rule 144
Georg Mayer (PfE)

1.Are there any rules in the Commission that require organisations funded by the EU to publicly label their financial dependence on EU funds (e.g. on websites, publications, events)?

2.How many of the civil society organisations supported by EU funding publish annual reports with funding sources or project funding on a voluntary basis?

3.What measures is the Commission taking to ensure that publicly funded organisations do not influence public opinion and politics in their capacity as supposedly independent actors?

Submitted: 24.4.2025
Last updated: 5 May 2025
MIL OSI Europe News –
May 5, 2025
MIL-OSI Europe: Written question – European main battle tank – E-001662/2025

Source: European Parliament

Question for written answer E-001662/2025
to the Commission
Rule 144
Hilde Vautmans (Renew)

The war in Ukraine has reasserted the importance of main battle tanks (MBTs) in modern warfare, highlighting the need for the European Union to develop a more unified and capable defence industry. With the variety of MBT models currently in use across Europe, military interoperability remains a challenge. Several European initiatives, such as the Main ARmoured Tank of Europe (MARTE) and Main Ground Combat System (MGCS) programmes, aim to create a common European MBT, but significant technological, political and industrial challenges remain.

What actions is the Commission taking to overcome the industrial challenges of coordinating the efforts of various EU Member States and defence contractors, ensuring that competing national interests do not hinder the development of a common European main battle tank?

Submitted: 24.4.2025

Last updated: 5 May 2025

MIL OSI Europe News –

May 5, 2025
MIL-OSI Europe: Written question – Risks relating to multi-million EU funding of centralised (and often left-leaning) fact checkers – E-001663/2025
Source: European Parliament
Question for written answer E-001663/2025
to the Commission
Rule 144
Beatrice Timgren (ECR), Charlie Weimers (ECR), Dick Erixon (ECR)

The Commission recently launched a EUR 5 million call[1] under the Digital Europe Programme to strengthen the European Fact-Checking Standards Network[2].

Objectives covered by the funding from Brussels include expanding fact-checking capacity, developing sustainable business models and protecting fact checkers from harassment while providing them with legal and relocation support. The further funding of such centralised structures risks consolidating influence among a limited number of actors who lack democratic legitimacy and political neutrality. Unlike the transparent and consensus-based model used in Community Notes on X – now being adopted by other platforms such as Facebook and Instagram[3] – the Commission’s approach relies on opaque selection and review processes. Meta CEO Mark Zuckerberg has pointed out that fact checkers often exhibit a left-leaning bias.

The current US presidential administration has criticised centralised fact-checking as undemocratic. Continued EU reliance on such models may undermine free speech and further strain transatlantic ties.

Bearing in mind what has been said above:

1.Why has the Commission adopted a critical view of relatively more transparent and open-source alternatives to fact-checking, such as Community Notes?

2.Has the Commission assessed the risk of its model being perceived as institutionalised censorship, with negative implications for public confidence and EU-US relations?

3.How will the Commission evaluate fact checkers’ independence and neutrality when offering them legal and relocation support under the proposed fact checkers protection scheme?

Submitted: 24.4.2025

[1] European Commission, EU Funding & Tenders Portal, Call for proposal: European Network of Factcheckers, https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/opportunities/topic-details/DIGITAL-2025-BESTUSE-08-FACTCHECKERS?isExactMatch=true&status=31094501,31094502,31094503&frameworkProgramme=43152860&order=DESC&pageNumber=1&pageSize=50&sortBy=startDate.

[2] European Commission, Digital Europe Programme: Call for proposals – Accelerating the Best Use of Technologies, 1 April 2025, https://ec.europa.eu/info/funding-tenders/opportunities/docs/2021-2027/digital/wp-call/2025/call-fiche_digital-2025-bestuse-08_en.pdf.

[3] Meta, ‘More Speech and Fewer Mistakes’, 7 January 2025, https://about.fb.com/news/2025/03/testing-begins-community-notes-facebook-instagram-threads/.
Last updated: 5 May 2025
MIL OSI Europe News –
May 5, 2025
MIL-OSI Europe: Written question – Weaponisation of migration by Russia and implications for EU security and border policy – E-001633/2025
Source: European Parliament
Question for written answer E-001633/2025
to the Commission
Rule 144
Christine Anderson (ESN)

Multiple credible sources confirm that foreign state actors, among them the Russian Federation and Belarus, have deliberately weaponised illegal migration as part of their hybrid warfare strategy, targeting EU Member States such as Finland, Poland, Lithuania and Latvia, as well as Norway. These operations reportedly involve the facilitation of third-country migrants through Russian territory using official visas, coercive tactics by Belarusian border authorities, and involvement by Russian intelligence and trafficking networks[1][2][3][4][5][6][7].

Given the evidence of this threat, can the Commission respond to the following:

1.Does the Commission recognise Russia’s (and Belarus’s) deliberate facilitation of irregular migration as a component of state-directed hybrid warfare? If so, what assessments or designations has it made in cooperation with relevant EU agencies (e.g. Frontex or the European External Action Service)?

2.What specific legal instruments or coordinated EU measures are currently in place or under consideration to address the use of migration as a geopolitical weapon, including in terms of border control, visa policy and sanctions?

3.How is the Commission supporting frontline Member States in returning migrants that have been taking part in hybrid attacks on EU external borders, and how many of them have been returned thus far?

Submitted: 23.4.2025

[1] https://www.csis.org/analysis/russias-shadow-war-against-west.

[2] https://www.heritage.org/global-politics/commentary/russias-weaponization-migrants-hasnt-gone-away.

[3] https://etias.com/articles/eu-border-measures-target-migrant-weaponization-by-russia,-belarus.

[4] https://ukandeu.ac.uk/border-and-migration-politics-and-the-kremlins-hybrid-war/.

[5] https://www.hoover.org/research/weaponization-migration-powerful-instrument-russias-hybrid-toolbox.

[6] https://www.washingtontimes.com/news/2022/nov/16/russias-weaponization-of-migrants-hasnt-gone-away/.

[7] https://mwi.westpoint.edu/weaponized-migration-in-eastern-europes-frozen-north-do-not-overlook-russian-hybrid-warfare/.
Last updated: 5 May 2025
MIL OSI Europe News –
May 5, 2025
MIL-OSI Europe: Written question – Influence on policy- and opinion-making – E-001649/2025
Source: European Parliament
Question for written answer E-001649/2025
to the Commission
Rule 144
Georg Mayer (PfE)

1.How many of the civil society organisations supported by EU funding have been involved since 2018 as advisors, project partners or stakeholders in the Commission’s policy-making processes?

2.Are there examples where EU-funded organisations have targeted narratives against populist, migration-critical or conservative positions?

3.How does the Commission ensure that its funding practice does not influence the public debate, whether party-political or ideologically, unilaterally?

Submitted: 24.4.2025
Last updated: 5 May 2025
MIL OSI Europe News –
May 5, 2025
MIL-OSI Europe: Written question – The rule of law in Azerbaijan ahead of the visit by the Vice-President of the Commission/High Representative of the Union for Foreign Affairs and Security Policy to Baku – E-001666/2025
Source: European Parliament
Question for written answer E-001666/2025
to the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy
Rule 144
Nikolas Farantouris (The Left)

The Vice-President of the Commission/High Representative of the Union for Foreign Affairs and Security Policy, Kaja Kallas, is making a surprise visit to Azerbaijan on 25 April, without however announcing the agenda for the talks with President Ilham Aliyev. According to international observers, Baku has recently been drastically restricting freedom of expression, violently suppressing peaceful demonstrations.[1] The authorities have carried out mass arrests of opposition figures. Dozens of citizens remain in politically motivated detention. Journalists and activists are in prison after show trials.[2]

Furthermore, following the 2023 military operation in Nagorno-Karabakh, over 100,000 Armenians – almost the entire Armenian population of the region – became refugees in Armenia amid a severe humanitarian crisis.[3] It is recalled that the European Parliament has recognised the Armenian Genocide,[4] which is commemorated today, 24 April, and Europe must prevent similar incidents in the future.

The Vice-President of the Commission/High Representative of the Union for Foreign Affairs and Security Policy is therefore asked:

1.What is the agenda and content of the EU’s discussions with a ruler who is internationally accused of ongoing violations of the rights of his citizens?

2.Will the issue of the rule of law and human rights be raised and in what terms?

3.What does the European Commission intend to do about the major issue of Nagorno-Karabakh, which is affecting the – Europe-friendly – people of Armenia?

Submitted: 24.4.2025

[1] https://www.hrw.org/world-report/2024/country-chapters/azerbaijan

[2] https://www.eeas.europa.eu/eeas/azerbaijan-statement-spokesperson-human-rights-situation_en

[3] https://pace.coe.int/en/files/33145/html

[4] https://www.europarl.europa.eu/doceo/document/TA-8-2015-0094_EL.html.
Last updated: 5 May 2025
MIL OSI Europe News –
May 5, 2025

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