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Category: Politics

  • MIL-OSI: First Community Bankshares, Inc. Announces Acquisition of Hometown Bancshares, Inc.

    Source: GlobeNewswire (MIL-OSI)

    BLUEFIELD, Va., July 21, 2025 (GLOBE NEWSWIRE) — First Community Bankshares, Inc. (“First Community”) (NASDAQ: FCBC), headquartered in Bluefield, VA, and Hometown Bancshares, Inc. (“Hometown”), headquartered in Middlebourne, WV, jointly announced today their entry into an Agreement and Plan of Merger (the “Agreement”). Pursuant to this Agreement, First Community will acquire Hometown, and First Community’s banking subsidiary, First Community Bank, will acquire Hometown’s banking subsidiary, Union Bank, Inc. As of June 30, 2025, Union Bank had total assets of approximately $402 million. Upon completion of the transaction, First Community is expected to have total consolidated assets of approximately $3.6 billion with 60 branch locations in four states.

    This merger aligns with First Community’s strategic focus on growing low-cost core deposits and positions the combined entity to expand its presence in the Parkersburg-Marietta-Vienna MSA. “First Community has a 150-year history of community banking excellence in West Virginia. Our partnership with Hometown and Union Bank is a natural expansion into West Virginia markets that are similar in size and makeup to the locations where we’ve had great success across our broader banking footprint. We look forward to bringing the two franchises together to better serve our customers and local communities” said Gary R. Mills, President and CEO of First Community Bank.

    Tim Aiken, President, CEO and Director of Hometown and Union Bank, commented, “When considering a long-term partner, we sought a community-minded bank that shares our commitment to providing top-tier banking services with that personal touch. Also, First Community Bank will bring services to our communities that Union Bank currently does not provide, such as Trust and Wealth Management services. We are confident that our combined franchise will serve our communities well and continue to create value for our customers, shareholders, and employees.”

    “We are pleased to announce our partnership with Union Bank. This collaboration will further strengthen our robust banking franchise in West Virginia. We believe First Community will benefit from Union’s strong deposit base, while Union’s customers will enjoy the advantages of increased scale, higher lending limits, and enhanced product and technology offerings from First Community,” said William (Will) P. Stafford, II, Chairman and Chief Executive Officer of First Community.

    The Agreement provides for the merger of Hometown with and into First Community, with First Community as the surviving corporation. Under the terms of the Agreement, each outstanding share of Hometown common stock will be converted into the right to receive 11.706 shares of First Community common stock, which equates to $472.10 per share of Hometown common stock and an aggregate transaction value of approximately $41.5 million based on a closing price for First Community common stock of $40.33 as of July 18, 2025. First Community expects the transaction to be minimally dilutive to tangible book value per share (non-GAAP) and to provide high-single digit accretion to earnings per share.

    The transaction, which received unanimous approval from both First Community’s and Hometown’s Boards of Directors, is subject to customary closing conditions, including the approval of Hometown’s shareholders and the receipt of all required regulatory approvals. The transaction is expected to be consummated in the first quarter of 2026. At that time, First Community anticipates welcoming Union Bank’s Chief Executive Officer, Tim Aiken, to the First Community team.

    D.A. Davidson & Co. served as financial advisor to First Community, and Bowles Rice LLP served as legal counsel. Hovde Group, LLC served as financial advisor to Hometown, and Hunton Andrews Kurth LLP served as legal counsel.

    About First Community Bankshares, Inc.

    First Community is a financial holding company headquartered in Bluefield, Virginia that provides banking products and services through its wholly owned subsidiary First Community Bank. First Community Bank operates 52 branch banking locations in Virginia, West Virginia, North Carolina, and Tennessee. The company reported consolidated assets of $3.2 billion as of March 31, 2025. The company’s common stock is listed on the NASDAQ Global Select Market under the trading symbol “FCBC.” Additional investor information is available on the company’s website at www.firstcommunitybank.com.

    About Hometown Bancshares, Inc.

    Hometown, located in Middlebourne, WV, offers banking products and services through its wholly owned subsidiary Union Bank. Union Bank operates eight locations in Northern West Virginia and has assets totaling $402 million as of June 30, 2025. Union Bank is committed to providing exceptional service to its customers while being an exemplary corporate citizen in the communities it serves.

    Investor Contacts:

    David D. Brown
    Chief Financial Officer
    First Community Bankshares, Inc.
    Phone: (276) 326-9000

    Important Information for Shareholders
    This press release shall not constitute an offer to sell, the solicitation of an offer to sell, or the solicitation of an offer to buy any securities or the solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In connection with the proposed transaction, First Community Bankshares, Inc. (“First Community or FCBC”) will file a registration statement on Form S-4 with the Securities and Exchange Commission (the “SEC”), which will contain the proxy statement of Hometown Bancshares, Inc. (“Hometown”) and a prospectus of First Community. Shareholders of Hometown are encouraged to read the registration statement, including the proxy statement/prospectus that will be part of the registration statement, because it will contain important information about the proposed transaction, Hometown, and First Community. After the registration statement is filed with the SEC, the proxy statement/prospectus and other relevant documents will be mailed to Hometown shareholders and will be available for free on the SEC’s website (www.sec.gov) and First Community’s website at https://ir.fcbresource.com under the tab “SEC Filings”. The proxy statement/prospectus will also be made available for free by contacting the Corporate Secretary of First Community at P.O. Box 989, Bluefield, Virginia 24605-0989; telephone (276) 326-9000. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

    Participants in the Transactions
    First Community, Hometown and their respective directors, executive officers and certain other members of management and employees may be deemed “participants” in the solicitation of proxies from Hometown’s shareholders in favor of the merger with First Community. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the Hometown shareholders in connection with the proposed merger will be set forth in the proxy statement/prospectus when it is filed with the SEC.

    You can find information about the executive officers and directors of First Community in its Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on March 7, 2025, and in its definitive proxy statement filed with the SEC on March 10, 2025. You can find information about Hometown’s executive officers and directors by accessing Hometown’s website at www.hometownbanc.bank under the tab “About Union Bank” and then under the heading “About Us”. You can obtain free copies of these documents from First Community using the contact information above.

    Forward-Looking Statements
    This joint press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements, including statements regarding the intent, belief, or current expectations of First Community’s management regarding the company’s strategic direction, prospects, or future results or the benefits of the proposed transaction, are subject to numerous risks and uncertainties. These forward-looking statements are based upon the current beliefs and expectations of the respective managements of First Community and Hometown and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of First Community and Hometown. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) the risk that the cost savings and revenue synergies anticipated in connection with the proposed transaction may not be realized or may take longer than anticipated to be realized, (2) disruption from the proposed transaction with customers, suppliers, or employee or other business relationships, (3) the occurrence of any event, change, or other circumstances that could give rise to the termination of the Agreement and plan of merger, (4) the risk of successful integration of the two organizations’ businesses, (5) the failure of Hometown shareholders to approve the proposed transaction, (6) the amount of costs, fees, expenses, and charges related to the proposed transaction, (7) the ability to obtain required governmental and regulatory approvals for the proposed transaction, (8) reputational risk and the reaction of the parties’ customers to the proposed transaction, (9) the failure of the conditions to closing of the proposed transaction to be satisfied, (10) the risk that the integration of Hometown’s operations with those of First Community will be materially delayed or will be more costly or difficult than expected, (11) the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, (12) the dilution caused by First Community’s issuance of additional shares of its common stock in the proposed transaction, (13) changes in management’s plans for the future, (14) prevailing economic and political conditions, particularly in our market areas, (15) credit risk associated with our lending activities, (16) changes in interest rates, loan demand, real estate values, and competition, (17) changes in accounting principles, policies, or guidelines, (18) changes in applicable laws, rules, or regulations, and (19) other competitive, economic, political, and market factors affecting our business, operations, pricing, products, and services. Certain additional factors which could affect the forward-looking statements can be found in First Community’s annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, in each case filed with or furnished to the SEC and available on the SEC’s website at http://www.sec.gov. First Community and Hometown caution that the foregoing list of factors is not exclusive. All subsequent written and oral forward-looking statements concerning the proposed transaction or other matters attributable to First Community or Hometown or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. First Community and Hometown disclaim any obligation to update or revise any forward-looking statements contained in this press release, which speak only as of the date hereof, whether as a result of new information, future events, or otherwise.

    The MIL Network –

  • MIL-OSI Asia-Pac: Development Bureau announces latest arrangements for two industry sites in Yuen Long and Hung Shui Kiu

    Source: Hong Kong Government special administrative region

    Development Bureau announces latest arrangements for two industry sites in Yuen Long and Hung Shui Kiu      The DEVB launched tenders under the two-envelope approach for the Yuen Long Lot and the Hung Shui Kiu Lot in March and October 2024 respectively for the development of multi-storey buildings for modern industries (MSBs). Part of the floor space of the MSBs was to be leased to the Government at nominal rent for 10 years, allowing the Government to further rent out the floor space at concessionary rents to brownfield operators affected by government development projects during the period. The tender invitation for the two sites was originally to close on July 25, 2025. 

    A spokesperson for the DEVB said, “In order to lead and effectively promote the development of industries in the NM, the Government has to allow flexibility in the use of land in the NM and adopt a ‘dynamic planning’ approach in formulating strategies in accordance with the actual circumstances, thereby accelerating enterprise anchoring and fostering development of the area. Taking into account the views of the innovation and technology sector and the logistics sector on the industry development strategy in the area, as well as the Government’s planning strategy for the NM, the Government has decided to cancel the tender for the two sites and proactively utilise the sites according to the Government’s development strategy. This would allow the greater play of the sites in promoting industry development.”Issued at HKT 20:31

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Bitcoin Depot Appoints Philip Brown as Chief Compliance Officer

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, July 21, 2025 (GLOBE NEWSWIRE) — Bitcoin Depot (NASDAQ: BTM), a U.S.-based Bitcoin ATM (“BTM”) operator and leading fintech company, today announced the appointment of Philip Brown as Chief Compliance Officer. With extensive experience in global compliance frameworks and financial services, Brown will oversee Bitcoin Depot’s compliance strategy as the Company continues its rapid expansion across the U.S. and internationally.

    In this role, Brown will manage all aspects of Bitcoin Depot’s compliance program, including its Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols, transaction monitoring, and state-by-state compliance strategies. He will also lead the Company’s regulatory engagement efforts and ensure that its compliance infrastructure scales alongside its growing footprint. Among his top priorities will be to enhance Bitcoin Depot’s regulatory posture to support national and international growth, build scalable compliance systems that can quickly adapt to evolving regulations, and strengthen internal controls for improved oversight and audit readiness. He is also committed to proactively engaging with regulators to ensure Bitcoin Depot remains a leader in compliance within the rapidly growing crypto industry.

    “Compliance has always been core to Bitcoin Depot’s strategy, and as the digital asset industry increasingly prioritizes clear regulatory frameworks, Philip’s expertise will be instrumental in ensuring Bitcoin Depot remains ahead of the curve,” said Brandon Mintz, CEO and founder of Bitcoin Depot. “Philip’s ability to bridge the gap between traditional finance and crypto-native models will empower us to reinforce our proactive approach to compliance while building lasting trust with partners, users, and regulators.”

    Before joining Bitcoin Depot, Brown served as Banxa’s director of compliance and chief compliance officer for North America, where he played a pivotal role in building and operationalizing its global compliance framework and navigating complex virtual asset regulations in both emerging and established markets. As chief compliance officer at Alliance Trust, he gained deep insights into traditional financial services compliance, particularly around fiduciary obligations and risk management.

    “Compliance is a strategic enabler for Bitcoin Depot, and I’m excited to help scale our compliance efforts as we continue to grow in the rapidly evolving global digital asset space,” said Brown. “I view my role as not only protecting the business but helping it grow responsibly, fostering consumer trust, and ensuring we meet regulatory expectations across the markets we serve. I look forward to working closely with regulators and industry stakeholders to shape policy that drives the crypto industry forward.”

    For more information, visit www.bitcoindepot.com.

    About Bitcoin Depot 
    Bitcoin Depot Inc. (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to bitcoin at Bitcoin Depot kiosks in 47 states and at thousands of name-brand retail locations in 31 states through its BDCheckout product. The Company has the largest market share in North America with over 8,800 kiosk locations as of June 2025. Learn more at www.bitcoindepot.com.

    Cautionary Note Regarding Forward-Looking Statements
    This press release and any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance, including our growth strategy and ability to increase deployment of our products and services, the anticipated effects of the Amendment, and the closing of the Preferred Sale. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. Forward-looking statements are often identified by words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,” “plan,” “potential,” “priorities,” “project,” “pursue,” “seek,” “should,” “target,” “when,” “will,” “would,” or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond our control.

    These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the business combination; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; our ability to manage future growth; our ability to develop new products and services, bring them to market in a timely manner and make enhancements to our platform; the effects of competition on our future business; our ability to issue equity or equity-linked securities; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors described or referenced in filings with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change.

    We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

    Contacts: 

    Investors
    Cody Slach
    Gateway Group, Inc.
    949-574-3860
    BTM@gateway-grp.com

    Media
    Brenlyn Motlagh, Ryan Deloney
    Gateway Group, Inc.
    949-574-3860
    BTM@gateway-grp.com

    The MIL Network –

  • MIL-OSI: MARA Schedules Conference Call for Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Earnings Webcast and Conference Call Set for Tuesday, July 29, 2025 at 5:00 p.m. ET

    Miami, FL, July 21, 2025 (GLOBE NEWSWIRE) — MARA Holdings, Inc. (NASDAQ: MARA) (“MARA” or the “Company”), a leading digital energy and infrastructure company, will hold a webcast and conference call on Tuesday, July 29, 2025 at 5:00 p.m. Eastern time to discuss its financial results for the quarter ended June 30, 2025. Financial results will be published in a shareholder letter prior to the call on the investor relations section of the Company’s website.

    To register to participate in the conference call or to listen to the live audio webcast, please use this link. The webcast will also be broadcast live and available for replay via the investor relations section of the Company’s website.

    Verified retail and institutional shareholders will be able to submit and upvote questions ahead of the earnings call. A selection of these questions may be addressed by MARA’s management team during the earnings call. The Q&A platform will open on July 21 at 9:00 a.m. Eastern time and close on July 28 at 9:00 a.m. Eastern time. To submit questions, please use this link.

    Earnings Webcast and Conference Call Details
    Date: Tuesday, July 29, 2025
    Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
    Registration link: LINK

    If you have any difficulty joining the conference call, please contact MARA’s investor relations team at ir@mara.com.

    About MARA

    MARA (NASDAQ: MARA) deploys digital energy technologies to advance the world’s energy systems. Harnessing the power of compute, MARA transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure. Building on its expertise to redefine the future of energy, MARA develops technologies that reduce the energy demands of high-performance computing applications, from AI to the edge.

    For more information, visit www.mara.com, or follow us on:

    Twitter: @MARA
    LinkedIn: www.linkedin.com/company/maraholdings
    Facebook: www.facebook.com/MARAHoldings
    Instagram: @maraholdingsinc

    MARA Company Contact:
    Telephone: 800-804-1690
    Email: ir@mara.com

    MARA Media Contact:
    Email: marathon@wachsman.com

    The MIL Network –

  • MIL-OSI Submissions: Congo and critical minerals: What are the costs of America’s peace?

    Source: The Conversation – Canada – By Evelyn Namakula Mayanja, Assistant Professor, Interdisciplinary Studies, Carleton University

    In March 2025, President Félix Tshisekedi of the Democratic Republic of Congo (DRC) offered the country’s critical mineral reserves to the United States and Europe in exchange for security and stability.

    At the time, the March 23 (M23) militia insurgency was unleashing violence: killing civilians, committing sexual violence, displacing communities and looting mineral resources. Since 1996, eastern Congo has been engulfed in wars and armed conflicts driven by regional powers and more than 120 armed groups.

    The U.S.-brokered peace agreement between Rwanda and the DRC raises critical questions: Is this a genuine path to sustainable peace, or a continuation of U.S. President Donald Trump’s strategy to secure access to critical minerals through coercive diplomacy?



    Read more:
    4 things every peace agreement needs – and how the DRC-Rwanda deal measures up

    Global arms race for critical minerals

    The global shift toward renewable energy, digital infrastructure and military modernization has sparked a geopolitical scramble for critical and rare earth minerals.

    In early 2025, Trump signed a series of executive orders that introduced aggressive and imperial-style tactics to secure access to mineral wealth. He threatened Canada with annexation and tariffs, demanded access to Greenland’s resources and linked U.S. support for Ukraine to access to its mineral reserves.

    The DRC’s offer must be viewed through this lens of global resource competition.

    Congo’s critical mineral wealth

    The DRC holds some of the world’s richest deposits of critical minerals and metals. A 2012 article estimated the value of Congo’s untapped mineral wealth at US$24 trillion, a figure nearing the U.S. first-quarter 2025 GDP of $29.962 trillion.

    The DRC produces 70 per cent of the world’s cobalt, ranks fourth in copper, sixth in industrial diamonds and also possesses vast reserves of nickel and lithium, including the Manono deposit expected to yield 95,170 tonnes of crude lithium.

    But the struggle to control these resources has fuelled a cycle of armed violence, displacement and exploitation. Despite several peace agreements, peace and stability remain elusive.

    America’s interests in Congo

    U.S. involvement in Congo stretches back to the Cold War, when it played a role in the 1961 assassination of Patrice Lumumba, Congo’s first elected prime minister who sought economic sovereignty.

    In 1996, the U.S. was accused of backing Rwanda and Uganda in the initial invasion of eastern Congo. A U.S. diplomat, “Mr. Hankins,” was quoted in Goma saying: “I am here …to represent American interests.”

    In 2024, President Joe Biden met Tshisekedi to advance the Lobito Corridor, a strategic trade route to counter China’s dominance in the region. Chinese companies currently control around 80 per cent of Congo’s copper market.

    When Trump signed the 2025 peace agreement, he openly stated the U.S. would gain “a lot of mineral rights … foreign trade and investment from the regional critical mineral supply chains.”

    U.S.-brokered peace deal

    The deal, however, prioritizes America’s access to minerals over the well-being of Congolese citizens. Historically, Congo’s mineral wealth has enriched elites and foreign powers while leaving its people impoverished and vulnerable. The new agreement could entrench existing inequalities and inflame tensions further.

    The U.S. has also cut off aid for war survivors, including emergency medical kits and antiretrovirals for rape victims, undermining humanitarian efforts.

    Crucially, the agreement overlooks:

    • The root causes and drivers of conflict at national, regional and international levels.

    • The role of Rwanda and Uganda, whose militaries and intelligence services have long been implicated in supporting groups like M23. Gen. Muhoozi Kainerugaba, son of Ugandan President Yoweri Museveni, has referred to M23 as “our brothers” and threatened military action in Congo.

    • The voices of Congolese civil society, war survivors and the public, who were excluded from the negotiation process.

    • State fragility and institutional collapse — major enablers of protracted violence.

    • The grievances of Hutu and Tutsi communities in the DRC, deeply rooted in colonial and regional politics.

    • The presence of more than 120 armed groups, many of them proxies for foreign powers engaging in what some scholars call “geocriminality.”

    Between January and February 2025 alone, more than 7,000 people were killed in the DRC. The United Nations and several human rights organizations have documented mass atrocities, including crimes of genocidal magnitude.

    A path toward real peace

    The peace agreement fails to demand justice for crimes committed against the Congolese people. Nobel Peace laureate Denis Mukwege condemned the deal for “rewarding aggression, legitimizing the plundering of Congo’s natural resources, and sacrificing justice for a fragile peace.”

    It also ignores the roles of international mining corporations and external entities that have long profited from Congo’s instability.

    True and lasting peace in the DRC cannot be imposed from the outside. U.S.-led mineral extraction without justice risks deepening the crisis. Since 1999, UN peacekeepers have been deployed in the Congo , yet violence continues.

    Sustainable peace will require:

    • An end to impunity;

    • Thorough investigations into war crimes;

    • Regional truth-telling processes;

    • Justice and reparations for victims;

    • And most importantly, inclusion of Congolese voices in shaping their future.

    Without these commitments, the U.S. risks replicating a long history of exploitation, trading in minerals while ignoring the human cost.

    Evelyn Namakula Mayanja receives funding from Social Sciences and Humanities Research Council and from Carleton University

    – ref. Congo and critical minerals: What are the costs of America’s peace? – https://theconversation.com/congo-and-critical-minerals-what-are-the-costs-of-americas-peace-260567

    MIL OSI –

  • MIL-OSI Russia: Israel Attacks Houthi Military Facilities in Yemen’s Hodeida Port – IDF

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    JERUSALEM/SANA, July 21 (Xinhua) — Israel has attacked Houthi military targets in the port of Hodeida in northwestern Yemen, the Israel Defense Forces (IDF) said on Monday.

    The Israeli Air Force reportedly struck military targets, including engineering equipment, fuel containers and ships used in military operations against Israel, as well as ships in port waters.

    According to the IDF, the port of Hodeida was used to transport weapons provided by the Iranian government.

    Earlier in the day, the Houthi-controlled Al-Masirah TV channel reported that Israel had launched a series of airstrikes on the Yemeni port of Hodeida. –0–

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

    .

    MIL OSI Russia News –

  • Veteran communist leader and former Kerala CM V.S. Achuthanandan passes away at 101

    Source: Government of India

    Source: Government of India (4)

    Veteran Communist leader and former Kerala Chief Minister V.S. Achuthanandan passed away on Monday afternoon at a private hospital in Thiruvananthapuram. He was 101.

    Achuthanandan had been battling for his life for over a month after suffering a cardiac arrest at his son’s residence in the state capital on June 23. Since then, he had been on ventilator support in the intensive care unit.

    Chief Minister Pinarayi Vijayan, along with CPI(M) state secretary M.V. Govindan, rushed to the hospital to meet Achuthanandan’s family and consult with the attending doctors. Following their visit, a steady stream of political leaders arrived at the hospital to pay their respects.

    A special medical board comprising experts from the Medical College had been overseeing his treatment in coordination with hospital staff. He was also undergoing dialysis, which was temporarily suspended during the course of his illness.

    Achuthanandan’s son-in-law, a doctor, administered cardiopulmonary resuscitation (CPR) at home before the veteran leader was taken to the hospital last month.

    Since stepping down as Chairman of the Administrative Reforms Commission in January 2021, Achuthanandan had been living alternately with his son and daughter in Thiruvananthapuram. His own residence in Alappuzha, which he had built during his long political career, remained closed.

    Achuthanandan was a towering figure in Kerala’s political landscape. As Leader of the Opposition from 2001 to 2006, he relentlessly attacked the then A.K. Antony-led UDF government. His populist stance and uncompromising image earned him admiration across party lines, particularly among apolitical and first-time voters.

    He led the CPI(M)-led Left Democratic Front (LDF) to victory in the 2006 Assembly elections and served as Chief Minister from 2006 to 2011. In 2011, he once again spearheaded the LDF campaign and came close to securing a second term. However, the Oommen Chandy-led UDF narrowly won, securing 72 seats in the 140-member Assembly.

    Achuthanandan’s passing marks the end of an era in Kerala politics—one defined by fierce ideological battles, grassroots activism, and an unwavering commitment to public life.

    —IANS

  • MIL-OSI Economics: [Opinion] Samsung in Collaboration with DTIC: Creating Meaningful Employment & Strengthening SA Economy through EEIP

    Source: Samsung

     

     
    According to research by Thrive CFO*: Small businesses in South Africa face numerous challenges, including access to funding, competition from larger companies, limited market reach, high operating costs, lack of skilled labour, regulatory compliance, cybersecurity threats, cash flow management, limited access to technology and environmental sustainability. *
     
    To help small enterprises in South Africa to overcome some of these challenges, Samsung in collaboration with the Department of Trade, Industry and Competition (DTIC) has – under its R280-million worth Equity Equivalent Investment Programme (EEIP), which was launched in 2019 – formulated programmes that address some of government’s priorities as well as Information and Communication Technology (ICT) challenges.
     
    This multi-million rand EEIP programme aims to empower black owned and local SMEs with a particular focus on women and start-up businesses in the ICT sector. It supports skills development, enterprise development and job creation to contribute to black economic empowerment. The EEIP is part of Samsung’s broader commitment to social responsibility and economic development within South Africa.
     
    Samsung’s EEIP programme is closely aligned to the overarching objectives of the National Development Plan (NDP) Vision for 2030 and South Africa’s framework of broad-based black economic empowerment (B-BBEE) – providing a mechanism for multi-nationals to contribute towards the development of black South Africans.
     
    This framework has allowed our company to contribute to B-BBEE goals through alternative investments, including investments in black-owned businesses, ICT development and skills development. Our EEIP programme focuses on strengthening black economic empowerment by supporting ICT entrepreneurs and fostering technological advancement, ultimately contributing to socio-economic development and job creation. South Africa’s NDP envisions a thriving SME sector as a cornerstone of the country’s inclusive, resilient economy by 2030.
     
    In essence, the NDP sees SMEs as a crucial engine for economic growth, job creation and poverty reduction. This strategic plan for South Africa’s future outlines various tactics to foster SME development and ensure their long-term success. Our government, which includes our collaborative partner, DTIC, believe that SMEs can create the majority of new jobs in the country – contributing significantly to economic growth as well as play a vital role in the reduction of poverty and inequality.
     
    As Samsung, we also understand how much entrepreneurship contributes to job creation, community development and how it fosters innovation and drives economic growth. For that reason, Samsung EEIP programme and DTIC have opened the third Call to Market for the Transformative SME Development Programme – targeting suitable ICT entrepreneurs in the country, that are eager to grow their businesses for funding and support.
     
    This transformative SME Development Programme seeks to support local entrepreneurs throughout their journey as well as driving a culture of innovation and digital solutions. So, in an effort to go beyond meeting our obligations towards government and demonstrate our ongoing investment in SME development – we are in the process of recruiting suitable SMEs to participate in this EEIP SME Development Programme with the ultimate aim of contributing to economic growth and job creation.
     
    In the last two years, our criteria for this EEIP SME Development Programme focused on targeting SMEs that had been operating in the ICT and Service Centre space for at least a minimum of three years with a turnover that is less than R50M per annum. This year, our EEIP SME Development Programme “Call to Market” campaign for entries has gone with a unique approach that aims to make a tangible difference in the lives of local ICT SMEs. We have changed our focus to include start-up, micro-enterprises that are still in their infancy stage and also put a strong focus on women-owned businesses.
     
    In collaboration with DTIC, we understand that start-up businesses are generally considered high-risk ventures, particularly in the early stages. We have therefore put in place some mitigating measures coupled with key performance indicators (KPI’s) to help manage these micro-enterprises efficiently and overcome any challenges that might come our way. The specific KPIs that are used in this EEIP SME Development Programme include:
     

    Economic Impact – looks at accumulative investment in SME development, capacity building as well as the contribution to the South African economy. Also, this KPI looks at job creation, growth in revenue and the profitability of supported SMEs.
    Enterprise Development – evaluates the number of SMEs specifically black-owned as well as those that are township-based and the number of businesses supported.
    Capacity Building: looks at the number of individuals trained or upskilled, improvements in business management skills as well as access to new markets and technologies. And lastly,
    Sustainability: The environmental impact of supported businesses, long-term viability of supported SMEs as well as the number of black-owned businesses and townships-based that are supported.

     
    We made these changes because we understand the need to develop local start-up enterprises and also how gender representation plays a crucial role in the development of entrepreneurs in the country. Importantly, we strongly believe that gender inclusion in the ICT entrepreneurship space will help to unlock economic potential, drive innovation and create a more equitable and sustainable future.
     
    With this new approach in this year’s EEIP SME Development Programme, we are now able to offer a larger pool of eligible ICT SMEs in the country an opportunity to access grant funding and enterprise development support to help propel their businesses to greater heights. This improved approach aims to identify gems in the market and offer them holistic support which also includes Business Development assistance (mentoring and coaching) to help in fostering growth, a dynamic and connected information society as well as a knowledge economy.
     
    This essentially means that this holistic approach in our transformative EEIP SME Development Programme does not only focus on developing technical skills (for those organisations in the ICT sector), but also other key entrepreneurial capabilities such as soft skills that can help create sustainable businesses in South Africa and enable them to become engines for job creation.
     
    Also, our business development initiatives include an Enterprise Development Bootcamp that is part of Samsung’s EEIP Programme – which helps young entrepreneurs launch and grow their businesses. This fast-paced four –month long, Bootcamp programme focuses on developing entrepreneurial skills and supporting Black-owned businesses in South Africa, particularly in the areas of Service Centre repairs and ICT. It aims to accelerate and grow businesses by providing entrepreneurs with training, mentorship, and financial support. 
     
    Samsung’s EEIP programme – now in its seven years of sustained success and this Enterprise Development “Call to Market” which represents the 3rd edition of our programme seeks to continue making a measurable difference to the socio-economic development of black South Africans. This year’s call follows two successful cycles and forms part of our broader commitment to the ICT sector, SME development and Vision 2030.
     
    This is our way of ensuring that we empower South Africa’s digital future by helping ICT entrepreneurs thrive as we deepen our commitment and collaboration with DTIC. The success of this EEIP SME Development Programme is highlighting the significant milestone of our EEIP in the country and the profound impact it has had on the nation’s ICT sector in conjunction with the DTIC.
     
    Our programme’s alignment with South Africa’s Vision 2030 and its success to date – has positioned this transformative SME Development Programme as one of the notably -value adding EEIPs in the sector. Furthermore, our strong and successful collaboration with the DTIC in strengthening the ICT sector through the EEIP – now complemented by our focus on providing support to start-ups in the infancy stage while also ensuring gender representation in this year’s SME Development Programme – is a true testament to shared goals for national development in the country.
     

    MIL OSI Economics –

  • MIL-OSI Economics: [Opinion] Samsung in Collaboration with DTIC: Creating Meaningful Employment & Strengthening SA Economy through EEIP

    Source: Samsung

     

     
    According to research by Thrive CFO*: Small businesses in South Africa face numerous challenges, including access to funding, competition from larger companies, limited market reach, high operating costs, lack of skilled labour, regulatory compliance, cybersecurity threats, cash flow management, limited access to technology and environmental sustainability. *
     
    To help small enterprises in South Africa to overcome some of these challenges, Samsung in collaboration with the Department of Trade, Industry and Competition (DTIC) has – under its R280-million worth Equity Equivalent Investment Programme (EEIP), which was launched in 2019 – formulated programmes that address some of government’s priorities as well as Information and Communication Technology (ICT) challenges.
     
    This multi-million rand EEIP programme aims to empower black owned and local SMEs with a particular focus on women and start-up businesses in the ICT sector. It supports skills development, enterprise development and job creation to contribute to black economic empowerment. The EEIP is part of Samsung’s broader commitment to social responsibility and economic development within South Africa.
     
    Samsung’s EEIP programme is closely aligned to the overarching objectives of the National Development Plan (NDP) Vision for 2030 and South Africa’s framework of broad-based black economic empowerment (B-BBEE) – providing a mechanism for multi-nationals to contribute towards the development of black South Africans.
     
    This framework has allowed our company to contribute to B-BBEE goals through alternative investments, including investments in black-owned businesses, ICT development and skills development. Our EEIP programme focuses on strengthening black economic empowerment by supporting ICT entrepreneurs and fostering technological advancement, ultimately contributing to socio-economic development and job creation. South Africa’s NDP envisions a thriving SME sector as a cornerstone of the country’s inclusive, resilient economy by 2030.
     
    In essence, the NDP sees SMEs as a crucial engine for economic growth, job creation and poverty reduction. This strategic plan for South Africa’s future outlines various tactics to foster SME development and ensure their long-term success. Our government, which includes our collaborative partner, DTIC, believe that SMEs can create the majority of new jobs in the country – contributing significantly to economic growth as well as play a vital role in the reduction of poverty and inequality.
     
    As Samsung, we also understand how much entrepreneurship contributes to job creation, community development and how it fosters innovation and drives economic growth. For that reason, Samsung EEIP programme and DTIC have opened the third Call to Market for the Transformative SME Development Programme – targeting suitable ICT entrepreneurs in the country, that are eager to grow their businesses for funding and support.
     
    This transformative SME Development Programme seeks to support local entrepreneurs throughout their journey as well as driving a culture of innovation and digital solutions. So, in an effort to go beyond meeting our obligations towards government and demonstrate our ongoing investment in SME development – we are in the process of recruiting suitable SMEs to participate in this EEIP SME Development Programme with the ultimate aim of contributing to economic growth and job creation.
     
    In the last two years, our criteria for this EEIP SME Development Programme focused on targeting SMEs that had been operating in the ICT and Service Centre space for at least a minimum of three years with a turnover that is less than R50M per annum. This year, our EEIP SME Development Programme “Call to Market” campaign for entries has gone with a unique approach that aims to make a tangible difference in the lives of local ICT SMEs. We have changed our focus to include start-up, micro-enterprises that are still in their infancy stage and also put a strong focus on women-owned businesses.
     
    In collaboration with DTIC, we understand that start-up businesses are generally considered high-risk ventures, particularly in the early stages. We have therefore put in place some mitigating measures coupled with key performance indicators (KPI’s) to help manage these micro-enterprises efficiently and overcome any challenges that might come our way. The specific KPIs that are used in this EEIP SME Development Programme include:
     

    Economic Impact – looks at accumulative investment in SME development, capacity building as well as the contribution to the South African economy. Also, this KPI looks at job creation, growth in revenue and the profitability of supported SMEs.
    Enterprise Development – evaluates the number of SMEs specifically black-owned as well as those that are township-based and the number of businesses supported.
    Capacity Building: looks at the number of individuals trained or upskilled, improvements in business management skills as well as access to new markets and technologies. And lastly,
    Sustainability: The environmental impact of supported businesses, long-term viability of supported SMEs as well as the number of black-owned businesses and townships-based that are supported.

     
    We made these changes because we understand the need to develop local start-up enterprises and also how gender representation plays a crucial role in the development of entrepreneurs in the country. Importantly, we strongly believe that gender inclusion in the ICT entrepreneurship space will help to unlock economic potential, drive innovation and create a more equitable and sustainable future.
     
    With this new approach in this year’s EEIP SME Development Programme, we are now able to offer a larger pool of eligible ICT SMEs in the country an opportunity to access grant funding and enterprise development support to help propel their businesses to greater heights. This improved approach aims to identify gems in the market and offer them holistic support which also includes Business Development assistance (mentoring and coaching) to help in fostering growth, a dynamic and connected information society as well as a knowledge economy.
     
    This essentially means that this holistic approach in our transformative EEIP SME Development Programme does not only focus on developing technical skills (for those organisations in the ICT sector), but also other key entrepreneurial capabilities such as soft skills that can help create sustainable businesses in South Africa and enable them to become engines for job creation.
     
    Also, our business development initiatives include an Enterprise Development Bootcamp that is part of Samsung’s EEIP Programme – which helps young entrepreneurs launch and grow their businesses. This fast-paced four –month long, Bootcamp programme focuses on developing entrepreneurial skills and supporting Black-owned businesses in South Africa, particularly in the areas of Service Centre repairs and ICT. It aims to accelerate and grow businesses by providing entrepreneurs with training, mentorship, and financial support. 
     
    Samsung’s EEIP programme – now in its seven years of sustained success and this Enterprise Development “Call to Market” which represents the 3rd edition of our programme seeks to continue making a measurable difference to the socio-economic development of black South Africans. This year’s call follows two successful cycles and forms part of our broader commitment to the ICT sector, SME development and Vision 2030.
     
    This is our way of ensuring that we empower South Africa’s digital future by helping ICT entrepreneurs thrive as we deepen our commitment and collaboration with DTIC. The success of this EEIP SME Development Programme is highlighting the significant milestone of our EEIP in the country and the profound impact it has had on the nation’s ICT sector in conjunction with the DTIC.
     
    Our programme’s alignment with South Africa’s Vision 2030 and its success to date – has positioned this transformative SME Development Programme as one of the notably -value adding EEIPs in the sector. Furthermore, our strong and successful collaboration with the DTIC in strengthening the ICT sector through the EEIP – now complemented by our focus on providing support to start-ups in the infancy stage while also ensuring gender representation in this year’s SME Development Programme – is a true testament to shared goals for national development in the country.
     

    MIL OSI Economics –

  • MIL-OSI: Roper Technologies announces second quarter financial results and acquisition of Subsplash; Increasing full year guidance

    Source: GlobeNewswire (MIL-OSI)

    SARASOTA, Fla., July 21, 2025 (GLOBE NEWSWIRE) — Roper Technologies, Inc. (Nasdaq: ROP) reported financial results for the second quarter ended June 30, 2025.

    Second quarter 2025 highlights

    • Revenue increased 13% to $1.94 billion; organic revenue was +7% and acquisition contribution was +6%
    • GAAP net earnings increased 12% to $378 million; adjusted net earnings increased 9% to $528 million
    • Adjusted EBITDA increased 12% to $775 million
    • GAAP operating cash flow increased 5% to $404 million; adjusted operating cash flow increased 13% to $434 million
    • GAAP DEPS increased 12% to $3.49; adjusted DEPS increased 9% to $4.87

    “We delivered another strong quarter, highlighted by 13% total revenue growth, 7% organic revenue growth, and 10% free cash flow growth,” said Neil Hunn, Roper Technologies’ President and CEO. “Our businesses continued to execute at a high level, while further innovating and investing to drive durable, long-term growth. We are particularly excited about how AI capabilities are enhancing our solutions and creating new opportunities, broadly, across our portfolio. Our second quarter growth was balanced across all three segments, as expected, and positions us well for a strong second half.”

    “We are once again increasing our full year outlook, supported by our strong second quarter results, the continued expansion of our recurring revenue base, and resilient demand for our businesses’ mission critical solutions. With significant M&A capacity and our proven acquisition model, we remain well positioned to execute our disciplined capital deployment strategy against a large pipeline of attractive opportunities. The combination of our durable business portfolio and proven M&A capability continues to fuel compelling long-term cash flow compounding for our shareholders.”

    Subsplash acquisition

    Last week, Roper signed a definitive agreement to acquire Subsplash, a leading provider of AI-enabled, cloud-based software and fintech solutions that serve over 20,000 faith-based organizations and churches, for a purchase price of $800 million.

    “Subsplash is a terrific business that meets each of our long-standing acquisition criteria while enhancing shareholder value creation with its high-teens organic growth profile and the ability to expand margins under Roper’s long-term ownership. We are excited to welcome the Subsplash team to the Roper family and look forward to partnering with them to execute their long-term growth strategy. We see significant potential for Subsplash to further advance their AI capabilities and deliver powerful solutions that will drive increased engagement for their customers,” concluded Mr. Hunn.

    Increasing 2025 guidance

    Roper now expects full year 2025 adjusted DEPS of $19.90 – $20.05, compared to previous guidance of $19.80 – $20.05. The Company increased its full year total revenue growth outlook to ~13%, compared to a previous outlook of ~12%, and continues to expect organic revenue growth of +6 – 7%.

    For the third quarter of 2025, the Company expects adjusted DEPS of $5.08 – $5.12.

    Roper’s guidance includes the impact of the Subsplash acquisition, which is expected to close later this month. The Company’s guidance excludes the impact of unannounced future acquisitions or divestitures.

    Conference call to be held at 8:00 AM (ET) today

    A conference call to discuss these results has been scheduled for 8:00 AM ET on Monday, July 21, 2025. The call can be accessed via webcast or by dialing +1 800-836-8184 (US/Canada) or +1 646-357-8785, using conference call ID 87418. Webcast information and conference call materials will be made available in the Investors section of Roper’s website (www.ropertech.com) prior to the start of the call. The webcast can also be accessed directly by using the following URL https://event.webcast. Telephonic replays will be available for up to two weeks and can be accessed by dialing +1 646-517-4150 with access code 87418#.

    Use of non-GAAP financial information

    The Company supplements its consolidated financial statements presented on a GAAP basis with certain non-GAAP financial information to provide investors with greater insight, increase transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making. Reconciliation of non-GAAP measures to their most directly comparable GAAP measures are included in the accompanying financial schedules or tables. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP, and the financial results prepared in accordance with GAAP and reconciliations from these results should be carefully evaluated.

    Minority interest

    Following the sale of a majority stake in its industrial businesses to CD&R, Roper holds a minority interest in Indicor. The fair value of Roper’s equity investment in Indicor is updated on a quarterly basis and reported as “equity investments (gain) loss, net.” Roper makes non-GAAP adjustments for the impacts associated with this investment.

    Table 1: Revenue and adjusted EBITDA reconciliation ($M)
      Q2 2024   Q2 2025   V %
    GAAP revenue $ 1,717     $ 1,944       13 %
               
    Components of revenue growth          
    Organic           7 %
    Acquisitions           6 %
    Foreign exchange           — %
    Revenue growth           13 %
               
    Adjusted EBITDA reconciliation          
    GAAP net earnings $ 337     $ 378      
    Taxes   88       107      
    Interest expense   68       79      
    Depreciation   9       10      
    Amortization   192       213      
    EBITDA $ 694     $ 788       14 %
               
    Transaction-related expenses for completed
    acquisitions    		   —       4      
    Financial impacts associated with the minority
    investments in Indicor & Certinia    		   1       (17 ) A  
    Adjusted EBITDA $ 695     $ 775       12 %
    Adjusted EBITDA margin   40.5 %     39.9 %     (60 bps )
    Table 2: Adjusted net earnings reconciliation ($M)
      Q2 2024   Q2 2025   V %
    GAAP net earnings $ 337     $ 378       12 %
    Transaction-related expenses for completed
    acquisitions    		   —       3      
    Financial impacts associated with the minority
    investments in Indicor & Certinia    		   —       (13 ) A  
    Amortization of acquisition-related intangible
    assets    		   146       160   B  
    Adjusted net earnings C $ 483     $ 528       9 %
               
    Table 3: Adjusted DEPS reconciliation
      Q2 2024   Q2 2025   V %
    GAAP DEPS $ 3.12     $ 3.49       12 %
    Transaction-related expenses for completed
    acquisitions    		   —       0.03      
    Financial impacts associated with the minority
    investments in Indicor & Certinia    		   —       (0.12 ) A  
    Amortization of acquisition-related intangible
    assets    		   1.35       1.48   B  
    Adjusted DEPS C $ 4.48     $ 4.87       9 %
               
    Table 4: Adjusted cash flow reconciliation ($M)
      Q2 2024   Q2 2025   V %
    Operating cash flow $ 384     $ 404       5 %
    Taxes paid in period related to divestiture   —       30   D  
    Adjusted operating cash flow $ 384     $ 434       13 %
    Capital expenditures   (7 )     (16 )    
    Capitalized software expenditures   (11 )     (14 )    
    Adjusted free cash flow $ 367     $ 403       10 %
               
    Table 5: Forecasted adjusted DEPS reconciliation
      Q3 2025   FY 2025
      Low end   High end   Low end   High end
    GAAP DEPS E $ 3.61     $ 3.65     $ 13.89     $ 14.04  
    YTD transaction-related expenses for
    completed acquisitions    		   —       —       0.03       0.03  
    YTD financial impacts associated with the
    minority investment in Indicor A    		   —       —       0.17       0.17  
    Amortization of acquisition-related
    intangible assets B    		   1.47       1.47       5.81       5.81  
    Adjusted DEPS C $ 5.08     $ 5.12     $ 19.90     $ 20.05  
                   

    Footnotes:

    A.  Adjustments related to the financial impacts associated with the minority investment in Indicor as shown below ($M, except per share data). Forecasted results do not include any potential impacts associated with our minority investment in Indicor, as these potential impacts cannot be reasonably predicted. These impacts will be excluded from all non-GAAP results in future periods.
                         
        Q2 2025A     Q3 2025E   FY 2025E     YTD 2025A
      Pretax $ (17 )     TBD   TBD     $ 28
      After-tax $ (13 )     TBD   TBD     $ 18
      Per share $ (0.12 )     TBD   TBD     $ 0.17
                         
    B. Actual results and forecast of estimated amortization of acquisition-related intangible assets as shown below ($M, except per share data). Forecasted results do not include amortization of intangible assets associated with the announced acquisition of Subsplash, as the valuation of acquisition-related intangible assets is incomplete. This item will be excluded from all non-GAAP results in future periods.
                         
        Q2 2025A     Q3 2025E   FY 2025E      
      Pretax $ 203       $ 202   $ 798      
      After-tax $ 160       $ 160   $ 630      
      Per share $ 1.48       $ 1.47   $ 5.81      
                         
    C. All actual and forecasted non-GAAP adjustments are taxed at 21% with the exception of the financial impacts associated with minority investments.
                         
    D. Cash taxes paid in the quarter associated with Roper’s gain on the sale of its minority interest in Certinia.
                         
    E. Forecasted GAAP DEPS do not include any potential impacts associated with our minority investment in Indicor, nor amortization of intangible assets associated with the announced acquisition of Subsplash, as the valuation of acquisition-related intangible assets is incomplete. These impacts will be excluded from all non-GAAP results in future periods.
       

    Note: Numbers may not foot due to rounding.  

    About Roper Technologies

    Roper Technologies is a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. Roper has a proven, long-term track record of compounding cash flow and shareholder value. The Company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. Roper utilizes a disciplined, analytical, and process-driven approach to redeploy its excess capital toward high-quality acquisitions. Additional information about Roper is available on the Company’s website at www.ropertech.com.

    Contact information:
    Investor Relations
    941-556-2601
    investor-relations@ropertech.com

    The information provided in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements may include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth, profit and cash flow expectations. Forward-looking statements may be indicated by words or phrases such as “anticipate,” “estimate,” “plans,” “expects,” “projects,” “should,” “will,” “believes,” “intends” and similar words and phrases. These statements reflect management’s current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement. Such risks and uncertainties include our ability to identify and complete acquisitions consistent with our business strategies, integrate acquisitions that have been completed, realize expected benefits and synergies from, and manage other risks associated with, acquired businesses, including obtaining any required regulatory approvals with respect thereto. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions and the conditions of the specific markets in which we operate, including risks related to labor shortages and rising interest rates, changes in foreign exchange rates, risks related to changing U.S. and foreign trade policies, including increased trade restrictions or tariffs, risks associated with our international operations, cybersecurity and data privacy risks, including litigation resulting therefrom, risks related to political instability, armed hostilities, incidents of terrorism, public health crises (such as the COVID-19 pandemic) or natural disasters, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, including as a result of inflation and potential supply chain constraints, environmental compliance costs and liabilities, risks and cost associated with litigation, potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

    Roper Technologies, Inc.      
    Condensed Consolidated Balance Sheets (unaudited)    
    (Amounts in millions)      
           
      June 30, 2025   December 31, 2024
    ASSETS:      
           
    Cash and cash equivalents $ 242.4     $ 188.2  
    Accounts receivable, net   868.8       885.1  
    Inventories, net   132.2       120.8  
    Income taxes receivable   50.0       25.6  
    Unbilled receivables   140.0       127.3  
    Prepaid expenses and other current assets   220.9       195.7  
    Total current assets   1,654.3       1,542.7  
           
    Property, plant and equipment, net   156.5       149.7  
    Goodwill   20,507.6       19,312.9  
    Other intangible assets, net   9,627.4       9,059.6  
    Deferred taxes   54.6       54.1  
    Equity investment   739.7       772.3  
    Other assets   480.3       443.4  
    Total assets $ 33,220.4     $ 31,334.7  
           
    LIABILITIES AND STOCKHOLDERS’ EQUITY:      
           
    Accounts payable $ 159.4     $ 148.1  
    Accrued compensation   213.8       289.0  
    Deferred revenue   1,618.1       1,737.4  
    Other accrued liabilities   520.3       546.2  
    Income taxes payable   53.1       68.4  
    Current portion of long-term debt, net   999.8       1,043.1  
    Total current liabilities   3,564.5       3,832.2  
           
    Long-term debt, net of current portion   7,859.2       6,579.9  
    Deferred taxes   1,706.0       1,630.6  
    Other liabilities   456.8       424.4  
    Total liabilities   13,586.5       12,467.1  
           
    Common stock   1.1       1.1  
    Additional paid-in capital   3,187.1       3,014.6  
    Retained earnings   16,565.9       16,034.9  
    Accumulated other comprehensive loss   (104.1 )     (166.5 )
    Treasury stock   (16.1 )     (16.5 )
    Total stockholders’ equity   19,633.9       18,867.6  
    Total liabilities and stockholders’ equity $ 33,220.4     $ 31,334.7  
           
    Roper Technologies, Inc.          
    Condensed Consolidated Statements of Earnings (unaudited)        
    (Amounts in millions, except per share data)        
                   
      Three months ended
    June 30,    		   Six months ended
    June 30,
        2025       2024       2025       2024  
    Net revenues $ 1,943.6     $ 1,716.8     $ 3,826.4     $ 3,397.5  
    Cost of sales   598.2       523.5       1,187.3       1,023.2  
    Gross profit   1,345.4       1,193.3       2,639.1       2,374.3  
                   
    Selling, general and administrative expenses   797.1       699.1       1,565.0       1,398.8  
    Income from operations   548.3       494.2       1,074.1       975.5  
                   
    Interest expense, net   79.1       67.5       142.0       120.7  
    Equity investments (gain) loss, net   (16.6 )     0.8       27.8       (56.2 )
    Other expense, net   0.5       0.6       1.0       1.8  
                   
    Earnings before income taxes   485.3       425.3       903.3       909.2  
                   
    Income taxes   107.0       88.2       193.9       190.1  
                   
    Net earnings $ 378.3     $ 337.1     $ 709.4     $ 719.1  
                   
    Net earnings per share:              
    Basic $ 3.52     $ 3.15     $ 6.60     $ 6.72  
    Diluted $ 3.49     $ 3.12     $ 6.55     $ 6.66  
                   
    Weighted average common shares outstanding:              
    Basic   107.6       107.1       107.5       107.0  
    Diluted   108.4       107.9       108.3       107.9  
    Roper Technologies, Inc.                
    Selected Segment Financial Data (unaudited)                
    (Amounts in millions; percentages of net revenues)                
                                   
      Three months ended June 30,   Six months ended June 30,
        2025       2024       2025       2024  
      Amount   %   Amount   %   Amount   %   Amount   %
    Net revenues:                              
    Application Software $ 1,094.9         $ 931.8         $ 2,163.1         $ 1,827.0      
    Network Software   385.4           364.2           761.3           735.0      
    Technology Enabled
    Products    		   463.3           420.8           902.0           835.5      
    Total $ 1,943.6         $ 1,716.8         $ 3,826.4         $ 3,397.5      
                                   
                                   
    Gross profit:                              
    Application Software $ 753.3       68.8 %   $ 641.1       68.8 %   $ 1,474.1       68.1 %   $ 1,266.8       69.3 %
    Network Software   320.8       83.2 %     307.8       84.5 %     636.4       83.6 %     624.1       84.9 %
    Technology Enabled
    Products    		   271.3       58.6 %     244.4       58.1 %     528.6       58.6 %     483.4       57.9 %
    Total $ 1,345.4       69.2 %   $ 1,193.3       69.5 %   $ 2,639.1       69.0 %   $ 2,374.3       69.9 %
                                   
                                   
    Operating profit*:                              
    Application Software $ 294.6       26.9 %   $ 251.1       26.9 %   $ 571.4       26.4 %   $ 490.7       26.9 %
    Network Software   169.3       43.9 %     159.1       43.7 %     336.0       44.1 %     326.1       44.4 %
    Technology Enabled
    Products    		   164.1       35.4 %     146.7       34.9 %     317.7       35.2 %     282.9       33.9 %
    Total $ 628.0       32.3 %   $ 556.9       32.4 %   $ 1,225.1       32.0 %   $ 1,099.7       32.4 %
                                   
                                   
    * Segment operating profit is before unallocated corporate general and administrative expenses and enterprise-wide stock-based compensation. These expenses were $79.7 and $62.7 for the three months ended June 30, 2025 and 2024, respectively, and $151.0 and $124.2 for the six months ended June 30, 2025 and 2024, respectively.
    Roper Technologies, Inc.  
    Condensed Consolidated Statements of Cash Flows (unaudited)
    (Amounts in millions)
      Six months ended
    June 30,
        2025       2024  
    Cash flows from operating activities:      
    Net earnings $ 709.4     $ 719.1  
    Adjustments to reconcile net earnings to cash flows from operating
    activities:    		      
    Depreciation and amortization of property, plant and equipment   19.6       18.5  
    Amortization of intangible assets   417.2       377.2  
    Amortization of deferred financing costs   5.5       4.5  
    Non-cash stock compensation   82.7       73.3  
    Equity investments (gain) loss, net   27.8       (56.2 )
    Income tax provision   193.9       190.1  
    Changes in operating assets and liabilities, net of acquired businesses:      
    Accounts receivable   37.4       96.7  
    Unbilled receivables   (9.7 )     (17.7 )
    Inventories   (9.6 )     (11.0 )
    Prepaid expenses and other current assets   (22.9 )     (30.7 )
    Accounts payable   7.0       4.5  
    Other accrued liabilities   (115.4 )     (47.3 )
    Deferred revenue   (132.7 )     (122.6 )
    Cash taxes paid for gain on disposal of equity investment   (30.2 )     —  
    Cash income taxes paid, excluding tax associated with gain on disposal of
    equity investment    		   (233.7 )     (284.3 )
    Other, net   (13.5 )     1.5  
    Cash provided by operating activities   932.8       915.6  
           
    Cash flows from (used in) investing activities:      
    Acquisitions of businesses, net of cash acquired   (2,005.2 )     (1,858.3 )
    Capital expenditures   (26.0 )     (15.9 )
    Capitalized software expenditures   (26.8 )     (20.5 )
    Distributions from equity investment   5.1       8.4  
    Other   1.6       (1.1 )
    Cash used in investing activities   (2,051.3 )     (1,887.4 )
           
    Cash flows from (used in) financing activities:      
    Borrowings under revolving line of credit, net   1,275.0       1,090.0  
    Cash dividends to stockholders   (177.2 )     (160.6 )
    Proceeds from stock-based compensation, net   73.8       75.9  
    Treasury stock sales   12.5       10.3  
    Other, net   (43.9 )     (0.2 )
    Cash provided by financing activities   1,140.2       1,015.4  
           
    Effect of exchange rate changes on cash   32.5       (6.4 )
           
    Net increase in cash and cash equivalents   54.2       37.2  
           
    Cash and cash equivalents, beginning of period   188.2       214.3  
           
    Cash and cash equivalents, end of period $ 242.4     $ 251.5  
           

    The MIL Network –

  • MIL-OSI: HBT Financial, Inc. Announces Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Second Quarter Highlights

    • Net income of $19.2 million, or $0.61 per diluted share; return on average assets (“ROAA”) of 1.53%; return on average stockholders’ equity (“ROAE”) of 13.47%; and return on average tangible common equity (“ROATCE”)(1) of 15.55%
    • Adjusted net income(1) of $19.8 million; or $0.63 per diluted share; adjusted ROAA(1) of 1.58%; adjusted ROAE(1) of 13.87%; and adjusted ROATCE(1) of 16.02%
    • Asset quality remained strong with nonperforming assets to total assets of 0.13% and net charge-offs to average loans of 0.12%, on an annualized basis
    • Net interest margin increased 2 basis points to 4.14% and net interest margin (tax-equivalent basis)(1)increased 3 basis points to 4.19%

    BLOOMINGTON, Ill., July 21, 2025 (GLOBE NEWSWIRE) — HBT Financial, Inc. (NASDAQ: HBT) (the “Company” or “HBT Financial” or “HBT”), the holding company for Heartland Bank and Trust Company, today reported net income of $19.2 million, or $0.61 diluted earnings per share, for the second quarter of 2025. This compares to net income of $19.1 million, or $0.60 diluted earnings per share, for the first quarter of 2025, and net income of $18.1 million, or $0.57 diluted earnings per share, for the second quarter of 2024.

    J. Lance Carter, President and Chief Executive Officer of HBT Financial, said, “During the second quarter of 2025, our team continued to deliver consistently strong earnings with adjusted net income(1) of $19.8 million, or $0.63 per diluted share. This was driven by an increase in adjusted pre-provision net revenue(1) of 5.2%, compared to the first quarter of 2025. Adjusted ROAA(1) was 1.58% and adjusted ROATCE(1) was 16.02% for the second quarter while our net interest margin on a tax equivalent basis(1) increased 3 basis points to 4.19%. Our strong profitability coupled with an improvement in our accumulated other comprehensive income due to lower interest rates resulted in a $0.59 increase in our tangible book value per share(1) to $16.02, an increase of 3.8% for the quarter and 17.4% over the last 12 months.

    Our balance sheet remains strong as all capital ratios increased during the quarter and asset quality remained stable with nonperforming assets to total assets of only 0.13%. We saw a decrease in loans during the quarter as seasonal paydowns on grain elevator lines of credit caused a decrease in commercial and industrial loans and a higher amount of property sales caused higher payoffs in several other portfolios. We expect to see loan growth return in the third quarter of 2025 due to higher loan pipelines at the end of the second quarter than at the end of the first quarter and fewer payoffs projected.

    Our credit discipline, strong profitability and solid balance sheet give us confidence that we are prepared for a variety of economic and interest rate environments. Our capital levels and operational structure support attractive acquisition opportunities should the right opportunity arise.”
    ____________________________________
    (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.

    Adjusted Net Income

    In addition to reporting GAAP results, the Company believes non-GAAP measures such as adjusted net income and adjusted earnings per share, which adjust for acquisition expenses, branch closure expenses, gains (losses) on closed branch premises, realized gains (losses) on sales of securities, mortgage servicing rights fair value adjustments, and the tax effect of these pre-tax adjustments, provide investors with additional insight into its operational performance. The Company reported adjusted net income of $19.8 million, or $0.63 adjusted diluted earnings per share, for the second quarter of 2025. This compares to adjusted net income of $19.3 million, or $0.61 adjusted diluted earnings per share, for the first quarter of 2025, and adjusted net income of $18.1 million, or $0.57 adjusted diluted earnings per share, for the second quarter of 2024 (see “Reconciliation of Non-GAAP Financial Measures” tables below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures).

    Net Interest Income and Net Interest Margin

    Net interest income for the second quarter of 2025 was $49.7 million, an increase of 2.0% from $48.7 million for the first quarter of 2025. The increase was primarily attributable to improved yields on debt securities and lower funding costs which were partially offset by a decrease in average loan balances.

    Relative to the second quarter of 2024, net interest income increased 5.6% from $47.0 million. The increase was primarily attributable to lower funding costs, improved yields on debt securities, and higher average loan balances. Additionally, a $0.5 million increase in nonaccrual interest recoveries and loan fees contributed to the increase in net interest income.

    Net interest margin for the second quarter of 2025 was 4.14%, compared to 4.12% for the first quarter of 2025, and net interest margin (tax-equivalent basis)(1) for the second quarter of 2025 was 4.19%, compared to 4.16% for the first quarter of 2025. The increase was primarily attributable to improved yields on debt securities, which increased 11 basis points to 2.60%, and lower funding costs, which decreased 3 basis points to 1.29%.

    Relative to the second quarter of 2024, net interest margin increased 19 basis points from 3.95% and net interest margin (tax-equivalent basis)(1) increased 19 basis points from 4.00%. The increase was primarily attributable to lower funding costs, higher yields on interest-earning assets, and an increase in nonaccrual interest recoveries and loan fees. The increase in the contribution of nonaccrual interest recoveries and loan fees accounted for 4 basis points of the increase in net interest margin.
    ____________________________________
    (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.

    Noninterest Income

    Noninterest income for the second quarter of 2025 was $9.1 million, a 1.8% decrease from $9.3 million for the first quarter of 2025. The decrease was primarily attributable to changes in the mortgage servicing rights (“MSR”) fair value adjustment, with a $0.8 million negative MSR fair value adjustment included in the second quarter 2025 results compared to a $0.3 million negative MSR fair value adjustment included in the first quarter 2025 results. Partially offsetting this decrease were seasonal increases in card income of $0.2 million and gains on sale of mortgage loans of $0.2 million.

    Relative to the second quarter of 2024, noninterest income decreased 4.9% from $9.6 million. The decrease was primarily attributable to changes in the MSR fair value adjustment, with a $0.8 million negative MSR fair value adjustment included in the second quarter 2025 results compared to a $0.1 million negative MSR fair value adjustment included in the second quarter 2024 results. Partially offsetting the decrease was a $0.2 million increase in wealth management fees.

    Noninterest Expense

    Noninterest expense for the second quarter of 2025 was $31.9 million, nearly unchanged from the first quarter of 2025. A $0.6 million decrease in salaries expense, which was impacted by seasonal variations in vacation accruals, was largely offset by a $0.4 million increase in other noninterest expense and a $0.3 million increase in employee benefits expense, primarily driven by higher medical benefit costs.

    Relative to the second quarter of 2024, noninterest expense increased 4.6% from $30.5 million. The increase was primarily attributable to a $0.7 million increase in employee benefits expense, primarily driven by higher medical benefit costs, a $0.3 million increase in other noninterest expense, and a $0.2 million increase in bank occupancy expense, primarily due to planned building maintenance and upgrades.

    Income Taxes

    During the second quarter of 2025 our effective tax rate increased to 27.0% when compared to 25.2% during the first quarter of 2025. This increase was primarily related to $0.3 million of additional tax expense related to the nonrecurring reversal of a stranded tax effect included in accumulated other comprehensive income, in connection with the maturity of a derivative designated as a cash flow hedge during the second quarter of 2025. Additionally, the first quarter of 2025 included a $0.2 million tax benefit from stock-based compensation that vested during the quarter.

    Loan Portfolio

    Total loans outstanding, before allowance for credit losses, were $3.35 billion at June 30, 2025, compared with $3.46 billion at March 31, 2025, and $3.39 billion at June 30, 2024. The $113.6 million decrease from March 31, 2025 was primarily attributable to $72.0 million of paydowns from property sales, a seasonal reduction of $25.1 million in grain elevator lines of credit included in the commercial and industrial segment, and additional payoffs across other segments. These reductions were partially offset by draws on existing loans in the construction and development segment and new originations to existing customers. Additionally, increases in the multi-family and commercial real estate – non-owner occupied segments were primarily due to completed projects being moved out of the construction and land development category.

    Deposits

    Total deposits were $4.31 billion at June 30, 2025, compared with $4.38 billion at March 31, 2025, and $4.32 billion at June 30, 2024. The $78.1 million decrease from March 31, 2025 was primarily attributable to higher outflows for tax payments by depositors and lower balances maintained in existing retail accounts which were partially offset by higher public funds balances.

    Asset Quality

    Nonperforming assets totaled $6.5 million, or 0.13% of total assets, at June 30, 2025, compared with $5.6 million, or 0.11% of total assets, at March 31, 2025, and $8.8 million, or 0.17% of total assets, at June 30, 2024. Additionally, of the $5.6 million of nonperforming loans held as of June 30, 2025, $1.9 million were either wholly or partially guaranteed by the U.S. government. The $0.9 million increase in nonperforming assets from March 31, 2025 was primarily attributable to higher nonperforming loan balances in the commercial and industrial and the construction and land development segments.

    The Company recorded a provision for credit losses of $0.5 million for the second quarter of 2025. The provision for credit losses primarily reflects a $1.0 million increase in required reserves driven by changes in the economic forecast; a $0.8 million increase in required reserves resulting from changes in qualitative factors; a $1.2 million decrease in required reserves driven by changes within the portfolio; and a $0.1 million decrease in specific reserves.
    The Company had net charge-offs of $1.0 million, or 0.12% of average loans on an annualized basis, for the second quarter of 2025, compared to net charge-offs of $0.4 million, or 0.05% of average loans on an annualized basis, for the first quarter of 2025, and net charge-offs of $0.7 million, or 0.08% of average loans on an annualized basis, for the second quarter of 2024. Charge-offs during second quarter of 2025 were primarily recognized in the commercial and industrial and one-to-four family residential segments.

    The Company’s allowance for credit losses was 1.24% of total loans and 741% of nonperforming loans at June 30, 2025, compared with 1.22% of total loans and 825% of nonperforming loans at March 31, 2025. In addition, the allowance for credit losses on unfunded lending-related commitments totaled $3.1 million as of June 30, 2025, compared with $3.2 million as of March 31, 2025.

    Capital

    As of June 30, 2025, the Company exceeded all regulatory capital requirements under Basel III as summarized in the following table:

        June 30, 2025   For Capital
    Adequacy Purposes
    With Capital
    Conservation Buffer
             
    Total capital to risk-weighted assets   17.74 %   10.50 %
    Tier 1 capital to risk-weighted assets   15.60     8.50  
    Common equity tier 1 capital ratio   14.26     7.00  
    Tier 1 leverage ratio   11.86     4.00  
                 

    The ratio of tangible common equity to tangible assets(1) increased to 10.21% as of June 30, 2025, from 9.73% as of March 31, 2025, and tangible book value per share(1) increased by $0.59 to $16.02 as of June 30, 2025, when compared to March 31, 2025.

    During the second quarter of 2025, the Company repurchased 135,997 shares of its common stock at a weighted average price of $21.30 under its stock repurchase program. The Company’s Board of Directors has authorized the repurchase of up to $15.0 million of HBT Financial common stock under its stock repurchase program, which is in effect until January 1, 2026. As of June 30, 2025, the Company had $12.1 million remaining under the stock repurchase program.
    ____________________________________
    (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.

    About HBT Financial, Inc.

    HBT Financial, Inc., headquartered in Bloomington, Illinois, is the holding company for Heartland Bank and Trust Company, and has banking roots that can be traced back to 1920. HBT Financial provides a comprehensive suite of financial products and services to consumers, businesses, and municipal entities throughout Illinois and eastern Iowa through 66 full-service branches. As of June 30, 2025, HBT Financial had total assets of $5.0 billion, total loans of $3.3 billion, and total deposits of $4.3 billion.

    Non-GAAP Financial Measures

    Some of the financial measures included in this press release are not measures of financial performance recognized in accordance with GAAP. These non-GAAP financial measures include adjusted net income, adjusted earnings per share, adjusted ROAA, pre-provision net revenue, pre-provision net revenue less charge-offs (recoveries), adjusted pre-provision net revenue, adjusted pre-provision net revenue less charge-offs (recoveries), net interest income (tax-equivalent basis), net interest margin (tax-equivalent basis), efficiency ratio (tax-equivalent basis), adjusted efficiency ratio (tax-equivalent basis), the ratio of tangible common equity to tangible assets, tangible book value per share, adjusted ROAE, ROATCE, and adjusted ROATCE. Our management uses these non-GAAP financial measures, together with the related GAAP financial measures, in its analysis of our performance and in making business decisions. Management believes that it is a standard practice in the banking industry to present these non-GAAP financial measures, and accordingly believes that providing these measures may be useful for peer comparison purposes. These disclosures should not be viewed as substitutes for the results determined to be in accordance with GAAP; nor are they necessarily comparable to non-GAAP financial measures that may be presented by other companies. See our reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measures in the “Reconciliation of Non-GAAP Financial Measures” tables.

    Forward-Looking Statements

    Readers should note that in addition to the historical information contained herein, this press release contains, and future oral and written statements of the Company and its management may contain, “forward-looking statements” within the meanings of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “will,” “propose,” “may,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “continue,” or “should,” or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

    Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to: (i) the strength of the local, state, national and international economies and financial markets (including effects of inflationary pressures and supply chain constraints); (ii) effects on the U.S. economy resulting from the threat or implementation of, or changes to, existing policies and executive orders including tariffs, immigration policy, regulatory or other governmental agencies, foreign policy and tax regulations; (iii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or other threats thereof (including the Russian invasion of Ukraine and ongoing conflicts in the Middle East), or other adverse events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iv) new and revised accounting policies and practices, as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (v) changes in local, state and federal laws, regulations and governmental policies concerning the Company’s general business and any changes in response to bank failures; (vi) the imposition of tariffs or other governmental policies impacting the value of products produced by the Company’s commercial borrowers; (vii) changes in interest rates and prepayment rates of the Company’s assets; (viii) increased competition in the financial services sector, including from non-bank competitors such as credit unions and fintech companies, and the inability to attract new customers; (ix) technological changes implemented by us and other parties, including our third-party vendors, which may have unforeseen consequences to us and our customers, including the development and implementation of tools incorporating artificial intelligence; (x) unexpected results of acquisitions, which may include failure to realize the anticipated benefits of acquisitions and the possibility that transaction costs may be greater than anticipated; (xi) the loss of key executives and employees, talent shortages and employee turnover; (xii) changes in consumer spending; (xiii) unexpected outcomes or costs of existing or new litigation or other legal proceedings and regulatory actions involving the Company; (xiv) the economic impact on the Company and its customers of climate change, natural disasters and of exceptional weather occurrences such as tornadoes, floods and blizzards; (xv) fluctuations in the value of securities held in our securities portfolio, including as a result of changes in interest rates; (xvi) credit risks and risks from concentrations (by type of borrower, geographic area, collateral and industry) within our loan portfolio (including commercial real estate loans) and large loans to certain borrowers; (xvii) the overall health of the local and national real estate market; (xviii) the ability to maintain an adequate level of allowance for credit losses on loans; (xix) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and who may withdraw deposits to diversify their exposure; (xx) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact the Company’s cost of funds; (xxi) the level of nonperforming assets on our balance sheet; (xxii) interruptions involving our information technology and communications systems or third-party servicers; (xxiii) the occurrence of fraudulent activity, breaches or failures of our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (xxiv) the effectiveness of the Company’s risk management framework, and (xxv) the ability of the Company to manage the risks associated with the foregoing as well as anticipated. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s filings with the Securities and Exchange Commission.

    CONTACT:
    Peter Chapman
    HBTIR@hbtbank.com 
    (309) 664-4556

    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
             
        As of or for the Three Months Ended   Six Months Ended June 30,
    (dollars in thousands, except per share data)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		     2025       2024  
    Interest and dividend income   $ 63,919     $ 63,138     $ 62,824     $ 127,057     $ 124,785  
    Interest expense     14,261       14,430       15,796       28,691       31,069  
    Net interest income     49,658       48,708       47,028       98,366       93,716  
    Provision for credit losses     526       576       1,176       1,102       1,703  
    Net interest income after provision for credit losses     49,132       48,132       45,852       97,264       92,013  
    Noninterest income     9,140       9,306       9,610       18,446       15,236  
    Noninterest expense     31,914       31,935       30,509       63,849       61,777  
    Income before income tax expense     26,358       25,503       24,953       51,861       45,472  
    Income tax expense     7,128       6,428       6,883       13,556       12,144  
    Net income   $ 19,230     $ 19,075     $ 18,070     $ 38,305     $ 33,328  
                         
    Earnings per share – diluted   $ 0.61     $ 0.60     $ 0.57     $ 1.21     $ 1.05  
                         
    Adjusted net income (1)   $ 19,803     $ 19,253     $ 18,139     $ 39,056     $ 36,212  
    Adjusted earnings per share – diluted (1)     0.63       0.61       0.57       1.23       1.14  
                         
    Book value per share   $ 18.44     $ 17.86     $ 16.14          
    Tangible book value per share (1)     16.02       15.43       13.64          
                         
    Shares of common stock outstanding     31,495,434       31,631,431       31,559,366          
    Weighted average shares of common stock outstanding, including all dilutive potential shares     31,588,541       31,711,671       31,666,811       31,649,766       31,734,999  
                         
    SUMMARY RATIOS                    
    Net interest margin *     4.14 %     4.12 %     3.95 %     4.13 %     3.95 %
    Net interest margin (tax-equivalent basis) * (1)(2)     4.19       4.16       4.00       4.18       3.99  
                         
    Efficiency ratio     53.10 %     53.85 %     52.61 %     53.47 %     55.40 %
    Efficiency ratio (tax-equivalent basis) (1)(2)     52.61       53.35       52.10       52.97       54.83  
                         
    Loan to deposit ratio     77.75 %     78.95 %     78.39 %        
                         
    Return on average assets *     1.53 %     1.54 %     1.45 %     1.53 %     1.34 %
    Return on average stockholders’ equity *     13.47       13.95       14.48       13.70       13.46  
    Return on average tangible common equity * (1)     15.55       16.20       17.21       15.87       16.03  
                         
    Adjusted return on average assets * (1)     1.58 %     1.55 %     1.45 %     1.56 %     1.45 %
    Adjusted return on average stockholders’ equity * (1)     13.87       14.08       14.54       13.97       14.63  
    Adjusted return on average tangible common equity * (1)     16.02       16.36       17.27       16.18       17.42  
                         
    CAPITAL                    
    Total capital to risk-weighted assets     17.74 %     16.85 %     16.01 %        
    Tier 1 capital to risk-weighted assets     15.60       14.77       13.98          
    Common equity tier 1 capital ratio     14.26       13.48       12.66          
    Tier 1 leverage ratio     11.86       11.64       10.83          
    Total stockholders’ equity to total assets     11.58       11.10       10.18          
    Tangible common equity to tangible assets (1)     10.21       9.73       8.74          
                         
    ASSET QUALITY                    
    Net charge-offs (recoveries) to average loans *     0.12 %     0.05 %     0.08 %     0.09 %     0.03 %
    Allowance for credit losses to loans, before allowance for credit losses     1.24       1.22       1.21          
    Nonperforming loans to loans, before allowance for credit losses     0.17       0.15       0.25          
    Nonperforming assets to total assets     0.13       0.11       0.17          
                                     

    ____________________________________

    (1) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
    (2) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state tax rate of 9.5%. 

    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
    Consolidated Statements of Income
     
      Three Months Ended   Six Months Ended June 30,
    (dollars in thousands, except per share data) June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		     2025       2024  
    INTEREST AND DIVIDEND INCOME                  
    Loans, including fees:                  
    Taxable $ 53,156     $ 53,369     $ 52,177     $ 106,525     $ 104,103  
    Federally tax exempt   1,215       1,168       1,097       2,383       2,191  
    Debt securities:                  
    Taxable   7,434       6,936       6,315       14,370       12,519  
    Federally tax exempt   457       469       521       926       1,118  
    Interest-bearing deposits in bank   1,544       1,065       2,570       2,609       4,522  
    Other interest and dividend income   113       131       144       244       332  
    Total interest and dividend income   63,919       63,138       62,824       127,057       124,785  
    INTEREST EXPENSE                  
    Deposits   12,835       12,939       14,133       25,774       27,726  
    Securities sold under agreements to repurchase   —       22       129       22       281  
    Borrowings   30       109       121       139       246  
    Subordinated notes   469       470       469       939       939  
    Junior subordinated debentures issued to capital trusts   927       890       944       1,817       1,877  
    Total interest expense   14,261       14,430       15,796       28,691       31,069  
    Net interest income   49,658       48,708       47,028       98,366       93,716  
    PROVISION FOR CREDIT LOSSES   526       576       1,176       1,102       1,703  
    Net interest income after provision for credit losses   49,132       48,132       45,852       97,264       92,013  
    NONINTEREST INCOME                  
    Card income   2,797       2,548       2,885       5,345       5,501  
    Wealth management fees   2,826       2,841       2,623       5,667       5,170  
    Service charges on deposit accounts   1,915       1,944       1,902       3,859       3,771  
    Mortgage servicing   1,042       990       1,111       2,032       2,166  
    Mortgage servicing rights fair value adjustment   (751 )     (308 )     (97 )     (1,059 )     (17 )
    Gains on sale of mortgage loans   459       252       443       711       741  
    Realized gains (losses) on sales of securities   —       —       —       —       (3,382 )
    Unrealized gains (losses) on equity securities   23       8       (96 )     31       (112 )
    Gains (losses) on foreclosed assets   14       13       (28 )     27       59  
    Gains (losses) on other assets   (128 )     54       —       (74 )     (635 )
    Income on bank owned life insurance   167       164       166       331       330  
    Other noninterest income   776       800       701       1,576       1,644  
    Total noninterest income   9,140       9,306       9,610       18,446       15,236  
    NONINTEREST EXPENSE                  
    Salaries   16,452       17,053       16,364       33,505       33,021  
    Employee benefits   3,580       3,285       2,860       6,865       5,665  
    Occupancy of bank premises   2,471       2,625       2,243       5,096       4,825  
    Furniture and equipment   575       445       548       1,020       1,098  
    Data processing   2,687       2,717       2,606       5,404       5,531  
    Marketing and customer relations   1,020       1,144       996       2,164       1,992  
    Amortization of intangible assets   694       695       710       1,389       1,420  
    FDIC insurance   551       562       565       1,113       1,125  
    Loan collection and servicing   360       383       475       743       927  
    Foreclosed assets   67       5       10       72       59  
    Other noninterest expense   3,457       3,021       3,132       6,478       6,114  
    Total noninterest expense   31,914       31,935       30,509       63,849       61,777  
    INCOME BEFORE INCOME TAX EXPENSE   26,358       25,503       24,953       51,861       45,472  
    INCOME TAX EXPENSE   7,128       6,428       6,883       13,556       12,144  
    NET INCOME $ 19,230     $ 19,075     $ 18,070     $ 38,305     $ 33,328  
                       
    EARNINGS PER SHARE – BASIC $ 0.61     $ 0.60     $ 0.57     $ 1.21     $ 1.05  
    EARNINGS PER SHARE – DILUTED $ 0.61     $ 0.60     $ 0.57     $ 1.21     $ 1.05  
    WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING   31,510,759       31,584,989       31,579,457       31,547,669       31,621,205  
                                           
    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
    Consolidated Balance Sheets
               
    (dollars in thousands) June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
    ASSETS          
    Cash and due from banks $ 25,563     $ 25,005     $ 22,604  
    Interest-bearing deposits with banks   170,179       186,586       172,636  
    Cash and cash equivalents   195,742       211,591       195,240  
               
    Interest-bearing time deposits with banks   —       —       520  
    Debt securities available-for-sale, at fair value   773,206       706,135       669,055  
    Debt securities held-to-maturity   481,942       490,398       512,549  
    Equity securities with readily determinable fair value   3,346       3,323       3,228  
    Equity securities with no readily determinable fair value   2,609       2,629       2,613  
    Restricted stock, at cost   4,979       5,086       5,086  
    Loans held for sale   2,316       2,721       858  
               
    Loans, before allowance for credit losses   3,348,211       3,461,778       3,385,483  
    Allowance for credit losses   (41,659 )     (42,111 )     (40,806 )
    Loans, net of allowance for credit losses   3,306,552       3,419,667       3,344,677  
               
    Bank owned life insurance   24,320       24,153       24,235  
    Bank premises and equipment, net   68,523       67,272       65,711  
    Bank premises held for sale   140       190       317  
    Foreclosed assets   890       460       320  
    Goodwill   59,820       59,820       59,820  
    Intangible assets, net   16,454       17,148       19,262  
    Mortgage servicing rights, at fair value   17,768       18,519       18,984  
    Investments in unconsolidated subsidiaries   1,614       1,614       1,614  
    Accrued interest receivable   20,624       22,735       22,425  
    Other assets   37,553       38,731       59,685  
    Total assets $ 5,018,398     $ 5,092,192     $ 5,006,199  
               
    LIABILITIES AND STOCKHOLDERS’ EQUITY          
    Liabilities          
    Deposits:          
    Noninterest-bearing $ 1,034,387     $ 1,065,874     $ 1,045,697  
    Interest-bearing   3,272,144       3,318,716       3,272,996  
    Total deposits   4,306,531       4,384,590       4,318,693  
               
    Securities sold under agreements to repurchase   556       2,698       29,330  
    Federal Home Loan Bank advances   7,240       7,209       13,734  
    Subordinated notes   39,593       39,573       39,514  
    Junior subordinated debentures issued to capital trusts   52,879       52,864       52,819  
    Other liabilities   30,702       40,201       42,640  
    Total liabilities   4,437,501       4,527,135       4,496,730  
               
    Stockholders’ Equity          
    Common stock   329       329       328  
    Surplus   297,479       297,024       296,430  
    Retained earnings   341,750       329,169       290,386  
    Accumulated other comprehensive income (loss)   (32,739 )     (38,446 )     (54,656 )
    Treasury stock at cost   (25,922 )     (23,019 )     (23,019 )
    Total stockholders’ equity   580,897       565,057       509,469  
    Total liabilities and stockholders’ equity $ 5,018,398     $ 5,092,192     $ 5,006,199  
    SHARES OF COMMON STOCK OUTSTANDING   31,495,434       31,631,431       31,559,366  
                           
    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
               
    (dollars in thousands) June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
               
    LOANS          
    Commercial and industrial $ 419,430   $ 441,261   $ 400,276
    Commercial real estate – owner occupied   317,475     321,990     289,992
    Commercial real estate – non-owner occupied   907,073     891,022     889,193
    Construction and land development   310,252     376,046     365,371
    Multi-family   453,812     424,096     429,951
    One-to-four family residential   451,197     455,376     484,335
    Agricultural and farmland   271,644     292,240     285,822
    Municipal, consumer, and other   217,328     259,747     240,543
    Total loans $ 3,348,211   $ 3,461,778   $ 3,385,483
                     
    (dollars in thousands) June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
               
    DEPOSITS          
    Noninterest-bearing deposits $ 1,034,387   $ 1,065,874   $ 1,045,697
    Interest-bearing deposits:          
    Interest-bearing demand   1,097,086     1,143,677     1,094,797
    Money market   831,292     812,146     769,386
    Savings   568,971     575,558     582,752
    Time   774,795     787,335     796,069
    Brokered   —     —     29,992
    Total interest-bearing deposits   3,272,144     3,318,716     3,272,996
    Total deposits $ 4,306,531   $ 4,384,590   $ 4,318,693
                     
    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
       
      Three Months Ended
      June 30, 2025   March 31, 2025   June 30, 2024
    (dollars in thousands) Average Balance   Interest   Yield/Cost *   Average Balance   Interest   Yield/Cost *   Average Balance   Interest   Yield/Cost *
                                       
    ASSETS                                  
    Loans $ 3,417,582     $ 54,371   6.38 %   $ 3,460,906     $ 54,537   6.39 %   $ 3,374,058     $ 53,274   6.35 %
    Debt securities   1,217,386       7,891   2.60       1,204,424       7,405   2.49       1,187,795       6,836   2.31  
    Deposits with banks   160,726       1,544   3.85       120,014       1,065   3.60       211,117       2,570   4.90  
    Other   12,519       113   3.66       12,677       131   4.19       12,588       144   4.60  
    Total interest-earning assets   4,808,213     $ 63,919   5.33 %     4,798,021     $ 63,138   5.34 %     4,785,558     $ 62,824   5.28 %
    Allowance for credit losses   (42,118 )             (42,061 )             (40,814 )        
    Noninterest-earning assets   270,580               276,853               283,103          
    Total assets $ 5,036,675             $ 5,032,813             $ 5,027,847          
                                       
    LIABILITIES AND STOCKHOLDERS’ EQUITY                                  
    Liabilities                                  
    Interest-bearing deposits:                                  
    Interest-bearing demand $ 1,125,787     $ 1,569   0.56 %   $ 1,120,608     $ 1,453   0.53 %   $ 1,123,592     $ 1,429   0.51 %
    Money market   813,531       4,463   2.20       807,728       4,397   2.21       788,744       4,670   2.38  
    Savings   569,193       374   0.26       569,494       370   0.26       592,312       393   0.27  
    Time   780,536       6,429   3.30       784,099       6,719   3.48       763,507       7,117   3.75  
    Brokered   —       —   —       —       —   —       38,213       524   5.51  
    Total interest-bearing deposits   3,289,047       12,835   1.57       3,281,929       12,939   1.60       3,306,368       14,133   1.72  
    Securities sold under agreements to repurchase   1,420       —   0.05       8,754       22   1.02       30,440       129   1.70  
    Borrowings   7,225       30   1.70       12,890       109   3.41       13,466       121   3.60  
    Subordinated notes   39,582       469   4.76       39,563       470   4.82       39,504       469   4.78  
    Junior subordinated debentures issued to capital trusts   52,871       927   7.03       52,856       890   6.83       52,812       944   7.18  
    Total interest-bearing liabilities   3,390,145     $ 14,261   1.69 %     3,395,992     $ 14,430   1.72 %     3,442,590     $ 15,796   1.85 %
    Noninterest-bearing deposits   1,044,539               1,045,733               1,043,614          
    Noninterest-bearing liabilities   29,486               36,373               39,806          
    Total liabilities   4,464,170               4,478,098               4,526,010          
    Stockholders’ Equity   572,505               554,715               501,837          
    Total liabilities and stockholders’ equity $ 5,036,675             $ 5,032,813             $ 5,027,847          
                                       
    Net interest income/Net interest margin (1)     $ 49,658   4.14 %       $ 48,708   4.12 %       $ 47,028   3.95 %
    Tax-equivalent adjustment (2)       548   0.05           545   0.04           553   0.05  
    Net interest income (tax-equivalent basis)/
    Net interest margin (tax-equivalent basis) (2) (3)    		     $ 50,206   4.19 %       $ 49,253   4.16 %       $ 47,581   4.00 %
    Net interest rate spread (4)         3.64 %           3.62 %           3.43 %
    Net interest-earning assets (5) $ 1,418,068             $ 1,402,029             $ 1,342,968          
    Ratio of interest-earning assets to interest-bearing liabilities   1.42               1.41               1.39          
    Cost of total deposits         1.19 %           1.21 %           1.31 %
    Cost of funds         1.29             1.32             1.42  
                                             

    ____________________________________

    * Annualized measure.

    (1) Net interest margin represents net interest income divided by average total interest-earning assets.
    (2) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%.
    (3) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
    (4) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
    (5) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities. 

    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
     
      Six Months Ended
      June 30, 2025   June 30, 2024
    (dollars in thousands) Average Balance   Interest   Yield/Cost *   Average Balance   Interest   Yield/Cost *
                           
    ASSETS                      
    Loans $ 3,439,124     $ 108,908   6.39 %   $ 3,372,640     $ 106,294   6.34 %
    Debt securities   1,210,941       15,296   2.55       1,200,871       13,637   2.28  
    Deposits with banks   140,483       2,609   3.75       189,207       4,522   4.81  
    Other   12,597       244   3.93       12,787       332   5.22  
    Total interest-earning assets   4,803,145     $ 127,057   5.33 %     4,775,505     $ 124,785   5.25 %
    Allowance for credit losses   (42,089 )             (40,526 )        
    Noninterest-earning assets   273,193               280,676          
    Total assets $ 5,034,249             $ 5,015,655          
                           
    LIABILITIES AND STOCKHOLDERS’ EQUITY                      
    Liabilities                      
    Interest-bearing deposits:                      
    Interest-bearing demand $ 1,123,212     $ 3,022   0.54 %   $ 1,125,638     $ 2,740   0.49 %
    Money market   810,645       8,860   2.20       800,714       9,467   2.38  
    Savings   569,343       744   0.26       601,768       836   0.28  
    Time   782,307       13,148   3.39       714,003       13,042   3.67  
    Brokered   —       —   —       60,181       1,641   5.48  
    Total interest-bearing deposits   3,285,507       25,774   1.58       3,302,304       27,726   1.69  
    Securities sold under agreements to repurchase   5,067       22   0.89       31,448       281   1.80  
    Borrowings   10,042       139   2.79       13,235       246   3.73  
    Subordinated notes   39,573       939   4.79       39,494       939   4.78  
    Junior subordinated debentures issued to capital trusts   52,864       1,817   6.93       52,804       1,877   7.15  
    Total interest-bearing liabilities   3,393,053     $ 28,691   1.71 %     3,439,285     $ 31,069   1.82 %
    Noninterest-bearing deposits   1,045,133               1,040,007          
    Noninterest-bearing liabilities   32,404               38,457          
    Total liabilities   4,470,590               4,517,749          
    Stockholders’ Equity   563,659               497,906          
    Total liabilities and stockholders’ equity $ 5,034,249               5,015,655          
                           
    Net interest income/Net interest margin (1)     $ 98,366   4.13 %       $ 93,716   3.95 %
    Tax-equivalent adjustment (2)       1,093   0.05           1,128   0.04  
    Net interest income (tax-equivalent basis)/
    Net interest margin (tax-equivalent basis) (2) (3)    		     $ 99,459   4.18 %       $ 94,844   3.99 %
    Net interest rate spread (4)         3.62 %           3.43 %
    Net interest-earning assets (5) $ 1,410,092             $ 1,336,220          
    Ratio of interest-earning assets to interest-bearing liabilities   1.42               1.39          
    Cost of total deposits         1.20 %           1.28 %
    Cost of funds         1.30             1.39  

    ____________________________________
    (1) Net interest margin represents net interest income divided by average total interest-earning assets.
    (2) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state income tax rate of 9.5%.
    (3) See “Reconciliation of Non-GAAP Financial Measures” below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures.
    (4) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
    (5) Net interest-earning assets represents total interest-earning assets less total interest-bearing liabilities. 

    HBT Financial, Inc.
    Unaudited Consolidated Financial Summary
               
    (dollars in thousands) June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
               
    NONPERFORMING ASSETS          
    Nonaccrual $ 5,615     $ 5,102     $ 8,425  
    Past due 90 days or more, still accruing   9       4       7  
    Total nonperforming loans   5,624       5,106       8,432  
    Foreclosed assets   890       460       320  
    Total nonperforming assets $ 6,514     $ 5,566     $ 8,752  
               
    Nonperforming loans that are wholly or partially guaranteed by the U.S. Government $ 1,878     $ 1,350     $ 2,132  
               
    Allowance for credit losses $ 41,659     $ 42,111     $ 40,806  
    Loans, before allowance for credit losses   3,348,211       3,461,778       3,385,483  
               
    CREDIT QUALITY RATIOS          
    Allowance for credit losses to loans, before allowance for credit losses   1.24 %     1.22 %     1.21 %
    Allowance for credit losses to nonaccrual loans   741.92       825.38       484.34  
    Allowance for credit losses to nonperforming loans   740.74       824.74       483.94  
    Nonaccrual loans to loans, before allowance for credit losses   0.17       0.15       0.25  
    Nonperforming loans to loans, before allowance for credit losses   0.17       0.15       0.25  
    Nonperforming assets to total assets   0.13       0.11       0.17  
    Nonperforming assets to loans, before allowance for credit losses, and foreclosed assets   0.19       0.16       0.26  
                           
      Three Months Ended   Six Months Ended June 30,
    (dollars in thousands) June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		     2025       2024  
                       
    ALLOWANCE FOR CREDIT LOSSES                  
    Beginning balance $ 42,111     $ 42,044     $ 40,815     $ 42,044     $ 40,048  
    Provision for credit losses   595       496       677       1,091       1,237  
    Charge-offs   (1,252 )     (665 )     (870 )     (1,917 )     (1,097 )
    Recoveries   205       236       184       441       618  
    Ending balance $ 41,659     $ 42,111     $ 40,806     $ 41,659     $ 40,806  
                       
    Net charge-offs $ 1,047     $ 429     $ 686     $ 1,476     $ 479  
    Average loans   3,417,582       3,460,906       3,374,058       3,439,124       3,372,640  
                       
    Net charge-offs to average loans *   0.12 %     0.05 %     0.08 %     0.09 %     0.03 %
                                           

    ____________________________________

    * Annualized measure.

      Three Months Ended   Six Months Ended June 30,
    (dollars in thousands) June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		     2025     2024
                       
    PROVISION FOR CREDIT LOSSES                  
    Loans $ 595     $ 496   $ 677   $ 1,091   $ 1,237
    Unfunded lending-related commitments   (69 )     80     499     11     466
    Total provision for credit losses $ 526     $ 576   $ 1,176   $ 1,102   $ 1,703
                                   
    Reconciliation of Non-GAAP Financial Measures –
    Adjusted Net Income and Adjusted Return on Average Assets
        Three Months Ended   Six Months Ended June 30,
    (dollars in thousands)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		     2025       2024  
                         
    Net income   $ 19,230     $ 19,075     $ 18,070     $ 38,305     $ 33,328  
    Less: adjustments                    
    Gains (losses) on closed branch premises     (50 )     59       —       9       (635 )
    Realized gains (losses) on sales of securities     —       —       —       —       (3,382 )
    Mortgage servicing rights fair value adjustment     (751 )     (308 )     (97 )     (1,059 )     (17 )
    Total adjustments     (801 )     (249 )     (97 )     (1,050 )     (4,034 )
    Tax effect of adjustments (1)     228       71       28       299       1,150  
    Total adjustments after tax effect     (573 )     (178 )     (69 )     (751 )     (2,884 )
    Adjusted net income   $ 19,803     $ 19,253     $ 18,139     $ 39,056     $ 36,212  
                         
    Average assets   $ 5,036,675     $ 5,032,813     $ 5,027,847     $ 5,034,249     $ 5,015,655  
                         
    Return on average assets *     1.53 %     1.54 %     1.45 %     1.53 %     1.34 %
    Adjusted return on average assets *     1.58       1.55       1.45       1.56       1.45  
                                             

    ____________________________________

    * Annualized measure.

    (1) Assumes a federal income tax rate of 21% and a state tax rate of 9.5%.

    Reconciliation of Non-GAAP Financial Measures –
    Adjusted Earnings Per Share — Basic and Diluted
        Three Months Ended   Six Months Ended June 30,
    (dollars in thousands, except per share amounts)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		     2025     2024
                         
    Numerator:                    
    Net income   $ 19,230   $ 19,075   $ 18,070   $ 38,305   $ 33,328
                         
    Adjusted net income   $ 19,803   $ 19,253   $ 18,139   $ 39,056   $ 36,212
                         
    Denominator:                    
    Weighted average common shares outstanding     31,510,759     31,584,989     31,579,457     31,547,669     31,621,205
    Dilutive effect of outstanding restricted stock units     77,782     126,682     87,354     102,097     113,794
    Weighted average common shares outstanding, including all dilutive potential shares     31,588,541     31,711,671     31,666,811     31,649,766     31,734,999
                         
    Earnings per share – basic   $ 0.61   $ 0.60   $ 0.57   $ 1.21   $ 1.05
    Earnings per share – diluted   $ 0.61   $ 0.60   $ 0.57   $ 1.21   $ 1.05
                         
    Adjusted earnings per share – basic   $ 0.63   $ 0.61   $ 0.57   $ 1.24   $ 1.15
    Adjusted earnings per share – diluted   $ 0.63   $ 0.61   $ 0.57   $ 1.23   $ 1.14
                                   
    Reconciliation of Non-GAAP Financial Measures –
    Pre-Provision Net Revenue, Pre-Provision Net Revenue Less Net Charge-offs (Recoveries),
    Adjusted Pre-Provision Net Revenue, and Adjusted Pre-Provision Net Revenue Less Net Charge-offs (Recoveries)
        Three Months Ended   Six Months Ended June 30,
    (dollars in thousands)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		     2025       2024  
                         
    Net interest income   $ 49,658     $ 48,708     $ 47,028     $ 98,366     $ 93,716  
    Noninterest income     9,140       9,306       9,610       18,446       15,236  
    Noninterest expense     (31,914 )     (31,935 )     (30,509 )     (63,849 )     (61,777 )
    Pre-provision net revenue     26,884       26,079       26,129       52,963       47,175  
    Less: adjustments                    
    Gains (losses) on closed branch premises     (50 )     59       —       9       (635 )
    Realized gains (losses) on sales of securities     —       —       —       —       (3,382 )
    Mortgage servicing rights fair value adjustment     (751 )     (308 )     (97 )     (1,059 )     (17 )
    Total adjustments     (801 )     (249 )     (97 )     (1,050 )     (4,034 )
    Adjusted pre-provision net revenue   $ 27,685     $ 26,328     $ 26,226     $ 54,013     $ 51,209  
                         
    Pre-provision net revenue   $ 26,884     $ 26,079     $ 26,129     $ 52,963     $ 47,175  
    Less: net charge-offs     1,047       429       686       1,476       479  
    Pre-provision net revenue less net charge-offs   $ 25,837     $ 25,650     $ 25,443     $ 51,487     $ 46,696  
                         
    Adjusted pre-provision net revenue   $ 27,685     $ 26,328     $ 26,226     $ 54,013     $ 51,209  
    Less: net charge-offs     1,047       429       686       1,476       479  
    Adjusted pre-provision net revenue less net charge-offs   $ 26,638     $ 25,899     $ 25,540     $ 52,537     $ 50,730  
                                             
    Reconciliation of Non-GAAP Financial Measures –
    Net Interest Income (Tax-equivalent Basis) and Net Interest Margin (Tax-equivalent Basis)
        Three Months Ended   Six Months Ended June 30,
    (dollars in thousands)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		     2025       2024  
                         
    Net interest income (tax-equivalent basis)                    
    Net interest income   $ 49,658     $ 48,708     $ 47,028     $ 98,366     $ 93,716  
    Tax-equivalent adjustment (1)     548       545       553       1,093       1,128  
    Net interest income (tax-equivalent basis) (1)   $ 50,206     $ 49,253     $ 47,581     $ 99,459     $ 94,844  
                         
    Net interest margin (tax-equivalent basis)                    
    Net interest margin *     4.14 %     4.12 %     3.95 %     4.13 %     3.95 %
    Tax-equivalent adjustment * (1)     0.05       0.04       0.05       0.05       0.04  
    Net interest margin (tax-equivalent basis) * (1)     4.19 %     4.16 %     4.00 %     4.18 %     3.99 %
                         
    Average interest-earning assets   $ 4,808,213     $ 4,798,021     $ 4,785,558     $ 4,803,145     $ 4,775,505  
                                             

    ____________________________________

    * Annualized measure.

    (1) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state tax rate of 9.5%. 

    Reconciliation of Non-GAAP Financial Measures –
    Efficiency Ratio (Tax-equivalent Basis) and Adjusted Efficiency Ratio (Tax-equivalent Basis)
        Three Months Ended   Six Months Ended June 30,
    (dollars in thousands)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		     2025       2024  
                         
    Total noninterest expense   $ 31,914     $ 31,935     $ 30,509     $ 63,849     $ 61,777  
    Less: amortization of intangible assets     694       695       710       1,389       1,420  
    Noninterest expense excluding amortization of intangible assets   $ 31,220     $ 31,240     $ 29,799     $ 62,460     $ 60,357  
                         
    Net interest income   $ 49,658     $ 48,708     $ 47,028     $ 98,366     $ 93,716  
    Total noninterest income     9,140       9,306       9,610       18,446       15,236  
    Operating revenue     58,798       58,014       56,638       116,812       108,952  
    Tax-equivalent adjustment (1)     548       545       553       1,093       1,128  
    Operating revenue (tax-equivalent basis) (1)     59,346       58,559       57,191       117,905       110,080  
    Less: adjustments to noninterest income                    
    Gains (losses) on closed branch premises     (50 )     59       —       9       (635 )
    Realized gains (losses) on sales of securities     —       —       —       —       (3,382 )
    Mortgage servicing rights fair value adjustment     (751 )     (308 )     (97 )     (1,059 )     (17 )
    Total adjustments to noninterest income     (801 )     (249 )     (97 )     (1,050 )     (4,034 )
    Adjusted operating revenue (tax-equivalent basis) (1)   $ 60,147     $ 58,808     $ 57,288     $ 118,955     $ 114,114  
                         
    Efficiency ratio     53.10 %     53.85 %     52.61 %     53.47 %     55.40 %
    Efficiency ratio (tax-equivalent basis) (1)     52.61       53.35       52.10       52.97       54.83  
    Adjusted efficiency ratio (tax-equivalent basis) (1)     51.91       53.12       52.02       52.51       52.89  
                                             

    ____________________________________
    (1) On a tax-equivalent basis assuming a federal income tax rate of 21% and a state tax rate of 9.5%.

    Reconciliation of Non-GAAP Financial Measures –
    Ratio of Tangible Common Equity to Tangible Assets and Tangible Book Value Per Share
    (dollars in thousands, except per share data)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024
                 
    Tangible Common Equity            
    Total stockholders’ equity   $ 580,897     $ 565,057     $ 509,469  
    Less: Goodwill     59,820       59,820       59,820  
    Less: Intangible assets, net     16,454       17,148       19,262  
    Tangible common equity   $ 504,623     $ 488,089     $ 430,387  
                 
    Tangible Assets            
    Total assets   $ 5,018,398     $ 5,092,192     $ 5,006,199  
    Less: Goodwill     59,820       59,820       59,820  
    Less: Intangible assets, net     16,454       17,148       19,262  
    Tangible assets   $ 4,942,124     $ 5,015,224     $ 4,927,117  
                 
    Total stockholders’ equity to total assets     11.58 %     11.10 %     10.18 %
    Tangible common equity to tangible assets     10.21       9.73       8.74  
                 
    Shares of common stock outstanding     31,495,434       31,631,431       31,559,366  
                 
    Book value per share   $ 18.44     $ 17.86     $ 16.14  
    Tangible book value per share     16.02       15.43       13.64  
                             
    Reconciliation of Non-GAAP Financial Measures –
    Return on Average Tangible Common Equity,
    Adjusted Return on Average Stockholders’ Equity and Adjusted Return on Average Tangible Common Equity
        Three Months Ended   Six Months Ended June 30,
    (dollars in thousands)   June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		     2025       2024  
                         
    Average Tangible Common Equity                    
    Total stockholders’ equity   $ 572,505     $ 554,715     $ 501,837     $ 563,659     $ 497,906  
    Less: Goodwill     59,820       59,820       59,820       59,820       59,820  
    Less: Intangible assets, net     16,782       17,480       19,605       17,130       19,970  
    Average tangible common equity   $ 495,903     $ 477,415     $ 422,412     $ 486,709     $ 418,116  
                         
    Net income   $ 19,230     $ 19,075     $ 18,070     $ 38,305     $ 33,328  
    Adjusted net income     19,803       19,253       18,139       39,056       36,212  
                         
    Return on average stockholders’ equity *     13.47 %     13.95 %     14.48 %     13.70 %     13.46 %
    Return on average tangible common equity *     15.55       16.20       17.21       15.87       16.03  
                         
    Adjusted return on average stockholders’ equity *     13.87 %     14.08 %     14.54 %     13.97 %     14.63 %
    Adjusted return on average tangible common equity *     16.02       16.36       17.27       16.18       17.42  

    ____________________________________

    * Annualized measure.

    The MIL Network –

  • MIL-OSI: Gilat to Report Second Quarter 2025 Results on Wednesday, August 6th

    Source: GlobeNewswire (MIL-OSI)

    PETAH TIKVA, Israel, July 21, 2025 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, today announced that it will release its second quarter 2025 financial results on Wednesday, August 6th, 2025.

    Conference Call and Webcast

    Following the release, Adi Sfadia, Chief Executive Officer, and Gil Benyamini, Chief Financial Officer, will discuss Gilat’s second quarter 2025 results and business achievements and participate in a question and answer session:

    Date: Wednesday, August 6, 2025
    Start: 09:30 AM EST / 16:30 IST
       

    A simultaneous webcast of the conference call will be available through this link: https://www.veidan-conferencing.com/gilat

    Or Dial-in: US: 1-888-407-2553
      International: +972-3-918-0609
       

    The webcast will also be archived for a period of 30 days on the Company’s website and through the link above.

    About Gilat

    Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we develop and deliver deep technology solutions for satellite, ground, and new space connectivity, offering next-generation solutions and services for critical connectivity across commercial and defense applications. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.

    Together with our wholly owned subsidiaries—Gilat Wavestream, Gilat DataPath, and Gilat Stellar Blu—we offer integrated, high-value solutions supporting multi-orbit constellations, Very High Throughput Satellites (VHTS), and Software-Defined Satellites (SDS) via our Commercial and Defense Divisions. Our comprehensive portfolio is comprised of a cloud-based platform and modems; high-performance satellite terminals; advanced Satellite On-the-Move (SOTM) antennas and ESAs; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense markets, field services, network management software, and cybersecurity services.

    Gilat’s products and tailored solutions support multiple applications including government and defense, IFC and mobility, broadband access, cellular backhaul, enterprise, aerospace, broadcast, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit: http://www.gilat.com

    Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to Israel’s preemptive strike against Iran’s nuclear project and the continued hostilities between Israel and Iran, and the hostilities between Israel and Hamas. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.

    Contact:

    Gilat Satellite Networks
    Hagay Katz, Chief Product and Marketing Officer
    hagayk@gilat.com

    Alliance Advisors:

    GilatIR@allianceadvisors.com
    Phone: +1 212 838 3777

    The MIL Network –

  • MIL-OSI: Gilat to Report Second Quarter 2025 Results on Wednesday, August 6th

    Source: GlobeNewswire (MIL-OSI)

    PETAH TIKVA, Israel, July 21, 2025 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, today announced that it will release its second quarter 2025 financial results on Wednesday, August 6th, 2025.

    Conference Call and Webcast

    Following the release, Adi Sfadia, Chief Executive Officer, and Gil Benyamini, Chief Financial Officer, will discuss Gilat’s second quarter 2025 results and business achievements and participate in a question and answer session:

    Date: Wednesday, August 6, 2025
    Start: 09:30 AM EST / 16:30 IST
       

    A simultaneous webcast of the conference call will be available through this link: https://www.veidan-conferencing.com/gilat

    Or Dial-in: US: 1-888-407-2553
      International: +972-3-918-0609
       

    The webcast will also be archived for a period of 30 days on the Company’s website and through the link above.

    About Gilat

    Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we develop and deliver deep technology solutions for satellite, ground, and new space connectivity, offering next-generation solutions and services for critical connectivity across commercial and defense applications. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.

    Together with our wholly owned subsidiaries—Gilat Wavestream, Gilat DataPath, and Gilat Stellar Blu—we offer integrated, high-value solutions supporting multi-orbit constellations, Very High Throughput Satellites (VHTS), and Software-Defined Satellites (SDS) via our Commercial and Defense Divisions. Our comprehensive portfolio is comprised of a cloud-based platform and modems; high-performance satellite terminals; advanced Satellite On-the-Move (SOTM) antennas and ESAs; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense markets, field services, network management software, and cybersecurity services.

    Gilat’s products and tailored solutions support multiple applications including government and defense, IFC and mobility, broadband access, cellular backhaul, enterprise, aerospace, broadcast, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit: http://www.gilat.com

    Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to Israel’s preemptive strike against Iran’s nuclear project and the continued hostilities between Israel and Iran, and the hostilities between Israel and Hamas. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.

    Contact:

    Gilat Satellite Networks
    Hagay Katz, Chief Product and Marketing Officer
    hagayk@gilat.com

    Alliance Advisors:

    GilatIR@allianceadvisors.com
    Phone: +1 212 838 3777

    The MIL Network –

  • Bedouin civilians evacuate Syria’s Sweida as tense truce holds

    Source: Government of India

    Source: Government of India (4)

    Hundreds of Bedouin civilians were evacuated from Syria’s predominantly Druze city of Sweida on Monday as part of a U.S.-backed truce meant to end fighting that has killed hundreds of people, state media and witnesses said.

    With hundreds reported killed, the violence in the southern province of Sweida has posed a major test for interim President Ahmed al-Sharaa, drawing Israeli airstrikes last week and deepening fissures in a country fractured by 14 years of war.

    A ceasefire took hold on Sunday as interior ministry security forces deployed on Sweida’s outskirts. Interior Minister Anas Khattab said on Sunday the truce would allow for the release of hostages and detainees held by the warring sides.

    On Monday morning, ambulances, trucks and buses ferried hundreds of Bedouin civilians including women, children and wounded people out of Sweida to nearby displacement camps, Reuters footage showed.

    The initial batch included some 300 Bedouins, and a second group of about 550 civilians will be evacuated within the next 24 hours if the situation remains calm, said Shoaib Asfour, a member of the Syrian security forces overseeing the evacuation.

    The next phase would see the evacuation of Bedouin fighters detained by Druze militias and the transfer of bodies of Bedouins killed in the fighting, Asfour said.

    Syria’s state news agency said a total of 1,500 Bedouins would be evacuated from Sweida city.

    Citing Ahmed al-Dalati, head of Syria’s internal security forces in Sweida, state media said those forces would also facilitate the return to Sweida of others displaced from it.

    According to the United Nations, at least 93,000 people have been uprooted by the fighting – most of them within Sweida province but others to Daraa province to the west, or north to the countryside around the capital Damascus.

    The U.N. said on Sunday that humanitarian convoys with medical supplies had been waiting to enter Sweida for two days but were not granted access. It said only a convoy of the Syrian Arab Red Crescent had been allowed to enter.

    PRESSURES ON SYRIA’S MOSAIC

    The Druze are a small but influential minority in Syria, Israel and Lebanon who follow a religion that is an offshoot of a branch of Islam. Some ultra-conservative Sunni Muslims deem Druze beliefs to be heretical.

    Citing the goal of protecting the Druze and keeping southern Syria demilitarized, Israel attacked government forces last week in the south and struck the defence ministry in Damascus.

    Washington, which has expressed support for Damascus since Sharaa met U.S. President Donald Trump in May, said it did not approve of Israel’s strikes.

    U.S. envoy Tom Barrack said on Monday the Syrian government needed to be held accountable. “They also need to be given the responsibility that they’re there to do,” he said, speaking on a visit to Beirut.

    Israeli Defence Minister Israel Katz defended Israel’s attacks on government targets, saying they were “the only way to stop the massacre of Druze in Syria”.

    The fighting began a week ago with clashes between Bedouin and Druze fighters. Damascus sent troops to quell the fighting, but they were drawn into the violence and accused of widespread violations against the Druze.

    Residents of Sweida said friends and neighbours were shot at close range in their homes or in the streets by Syrian troops, identified by their fatigues and insignia.

    Luna Albassit, a Druze activist in the town of Shahba in Sweida province, said the situation after so much bloodshed remained tense despite the end to clashes late on Sunday.

    “People were killed in the streets, in their homes, they were humiliated and it was in the name of the state,” she said.

    Hamzah Mustafa, Syria’s information minister, told Reuters last week that the Damascus government strongly condemned all abuses and rejected sectarian violence in all its forms.

    Interim President al-Sharaa has promised to protect the rights of Druze and hold to account those who committed violations against “our Druze people”.

    He has blamed the violence on “outlaw groups”.

    After Israel bombed Syrian government forces in Sweida and hit the defence ministry in Damascus last week, Prime Minister Benjamin Netanyahu demanded the demilitarisation of southern Syrian territory near the border, stretching from the Israeli-occupied Golan Heights to the Druze Mountain, east of Sweida.

    He also said Israel would protect the Druze.

    (Reuters)

  • Centre rolls out key strategies to ensure sustainability, competitiveness of coal sector

    Source: Government of India

    Source: Government of India (4)

    The central government has outlined a set of measures aimed at making the coal sector more sustainable and competitive, while aligning with global climate commitments. Despite the growing push towards renewables like solar and wind, coal continues to play a dominant role in India’s energy mix, meeting 55% of the country’s energy needs. With the world’s fifth-largest coal reserves, India is adopting a multi-pronged strategy to modernise the sector, enhance environmental compliance, and reduce dependence on imports.

    Greening and efficiency initiatives

    To reduce the ecological footprint of coal mining, Coal and Lignite PSUs have intensified reclamation and afforestation efforts around operational mines. Under various greening initiatives, plantations and bio-reclamation work are being carried out across mining sites.

    Coal PSUs are also adopting energy efficiency measures — such as replacing conventional lighting with LED systems, deploying energy-efficient appliances, using electric vehicles, and introducing energy-saving technologies like super fans and auto timers in street lighting.

    In a significant sustainability push, mine water is being treated and reused for purposes ranging from irrigation and community water supply to firefighting, underground sprinkling, and fish farming. Several MoUs have also been signed with state governments to expand treated mine water supply to local communities.

    Additionally, coal companies are making productive use of overburden (OB) — the soil and rock removed during mining. By extracting sand from OB for construction, PSUs have commissioned nine plants, including four OB processing and five OB to M-Sand plants. This move not only curbs river sand mining but also aids groundwater recharge and reduces environmental degradation.

    Shift towards cleaner technologies

    To reduce pollution and fuel consumption, coal PSUs have been upgrading transportation infrastructure under the First Mile Connectivity (FMC) projects. These projects focus on mechanized coal handling and transport systems, reducing reliance on diesel and cutting emissions.

    The sector is also deploying blast-free technologies such as Surface Miners, Continuous Miners, and Rippers to eliminate the need for drilling and blasting — significantly reducing dust and noise pollution.

    Meanwhile, coal companies are investing in clean energy alternatives, including renewable power projects and clean coal technologies like coal gasification and coal bed methane (CBM). Participation in the Green Credit Programme launched by the Ministry of Environment, Forest and Climate Change (MoEF&CC) further reflects the sector’s green commitment.

    Reducing coal iImports and boosting domestic production

    In a written reply to the Rajya Sabha, Union Coal and Mines Minister G. Kishan Reddy said coal imports have declined from 264.5 million tonnes (MT) in 2023–24 to 243.6 MT in 2024–25. This reduction comes in the backdrop of efforts to increase domestic coal output and reduce reliance on imports.

    Key measures include faster allocation of coal blocks, encouraging private participation, and streamlining approval processes. Public sector undertakings are also adopting digital solutions and advanced mining technologies to ramp up production.

    An Inter-Ministerial Committee (IMC) has been formed to promote coal import substitution. The IMC is working with import-based power plants to assess and address their coal needs using domestic supply channels. Some of these plants have already indicated their preferred suppliers from Coal India Limited’s (CIL) subsidiaries.

    Coal evacuation and transportation are being improved with the construction of new railway lines and expanded FMC projects, aimed at enhancing supply chain efficiency.

    With these integrated measures, the government aims to maintain coal’s competitiveness in India’s energy mix while advancing sustainability and reducing environmental impact.

  • Indian stock market rebounds sharply amid buying in banking heavyweights

    Source: Government of India

    Source: Government of India (4)

    Snapping the losing streak, the Indian stock market closed in the positive territory on Monday, following value buying in banking heavyweights, as Sensex gained over 442 points.

    Sensex settled at 82,200.34, up 442.61 points or 0.54 per cent. The 30-share index opened in green at 81,918.53 against last session’s closing of 81,757.73. However, the index experienced a volatile session, hitting intra-day low at 81,518.66.

    Nifty50 closed at 25,090.70, up 122.30 or 0.49 per cent.

    The manufacturing segment gained today as the government is reviewing the scope of expanding the infrastructure spending to support growth.

    In the Sensex basket, Zomato, ICICI Bank, Adani Ports, HDFC Bank, Mahindra and Mahindra, BEL, Kotak Bank, Tata Motors, Bajaj FinServ, L&T, Power Grid and Kotak Mahindra Bank settled in positive territory. While Reliance, HCL Tech, Hindustan Unilever, TCS, and ITC were closed in red.

    Meanwhile, 28 stocks advanced, 21 declined, and one remained unchanged from the Nifty50.

    Among sectoral indices Bank Nifty soared 430 points or 1.62 per cent and, Nifty Auto jumped 0.67 per cent or 160 points. At the same time Nifty IT and Nifty FMCG ended the session in red.

    Broader indices witnessed a sharp rally with Nifty 100 closed 121 points higher, Nifty Midcap 100 surged 363.85 points, and Nifty Next 50 settled 278 points up.

    “Persistent uncertainty surrounding ongoing trade negotiations between the US and India tempered overall market gains, with investors closely monitoring the outcome of these high-stakes discussions for further cues, according to Ashika Institutional Equities.

    Rupee traded weak by 0.18 per cent at 86.25 as focus shifts to this week’s Fed Chair Powell’s speech, which is expected to drive volatility in the dollar index.

    Additionally, key economic indicators such as Manufacturing and Services PMI will be closely tracked by market participants, said Jateen Trivedi from LKP Securities.

    (IANS)

  • MIL-OSI USA: Stanford faculty member George Tidmarsh, M.D., Ph.D. named Director of Center for Drug Evaluation and Research

    Source: US Department of Health and Human Services – 3

    For Immediate Release:
    July 21, 2025

    The U.S. Food and Drug Administration today announced the appointment of George Francis Tidmarsh, M.D., Ph.D., as Director of the Center for Drug Evaluation and Research (CDER). In this role, Dr. Tidmarsh will lead the FDA’s efforts to ensure safe, effective, and high-quality drugs are available to the American people.
    “Dr. Tidmarsh is an accomplished physician-scientist and leader whose experience spans the full arc of drug development—from bench to bedside,” said FDA Commissioner Marty Makary, M.D., M.P.H. “His appointment to lead CDER brings exceptional scientific, regulatory, and operational expertise to the agency. I look forward to working with him to strengthen our drug review programs, foster innovation, and advance cross-agency initiatives that improve health outcomes for the American public.”
    Dr. Tidmarsh earned his M.D. and Ph.D. in cancer biology from Stanford University where he completed residency training in pediatrics. He went on to complete two subspecialty programs at Stanford, one in pediatric oncology and another in neonatology. He brings over 30 years of experience in biotechnology, clinical medicine, and regulatory science and has authored 143 scientific publications and patents.  
    Dr. Tidmarsh was also the founding co-director of Stanford’s Master of Translational Research and Applied Medicine (M-TRAM) program, which bridges academic research and clinical application by training students and researchers to translate scientific discoveries into real-world medical solutions. His commitment to education, mentorship, and translational research continues to shape the next generation of physician-scientists and innovators. 
    Dr. Tidmarsh has led the successful clinical development of seven FDA-approved drugs and served as founder and CEO of multiple biopharmaceutical companies focused on oncology and critical care medicine. His work spans the full translational pipeline—from discovery through regulatory approval—and he is widely recognized for his ability to bring forward innovative treatments that address serious unmet medical needs. He has also served on advisory boards across academia, government, and industry.

    Consumer:888-INFO-FDA

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    The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, radiation-emitting electronic products, and for regulating tobacco products.

    Content current as of:
    07/21/2025

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    MIL OSI USA News –

  • MIL-OSI USA: Stanford faculty member George Tidmarsh, M.D., Ph.D. named Director of Center for Drug Evaluation and Research

    Source: US Department of Health and Human Services – 3

    For Immediate Release:
    July 21, 2025

    The U.S. Food and Drug Administration today announced the appointment of George Francis Tidmarsh, M.D., Ph.D., as Director of the Center for Drug Evaluation and Research (CDER). In this role, Dr. Tidmarsh will lead the FDA’s efforts to ensure safe, effective, and high-quality drugs are available to the American people.
    “Dr. Tidmarsh is an accomplished physician-scientist and leader whose experience spans the full arc of drug development—from bench to bedside,” said FDA Commissioner Marty Makary, M.D., M.P.H. “His appointment to lead CDER brings exceptional scientific, regulatory, and operational expertise to the agency. I look forward to working with him to strengthen our drug review programs, foster innovation, and advance cross-agency initiatives that improve health outcomes for the American public.”
    Dr. Tidmarsh earned his M.D. and Ph.D. in cancer biology from Stanford University where he completed residency training in pediatrics. He went on to complete two subspecialty programs at Stanford, one in pediatric oncology and another in neonatology. He brings over 30 years of experience in biotechnology, clinical medicine, and regulatory science and has authored 143 scientific publications and patents.  
    Dr. Tidmarsh was also the founding co-director of Stanford’s Master of Translational Research and Applied Medicine (M-TRAM) program, which bridges academic research and clinical application by training students and researchers to translate scientific discoveries into real-world medical solutions. His commitment to education, mentorship, and translational research continues to shape the next generation of physician-scientists and innovators. 
    Dr. Tidmarsh has led the successful clinical development of seven FDA-approved drugs and served as founder and CEO of multiple biopharmaceutical companies focused on oncology and critical care medicine. His work spans the full translational pipeline—from discovery through regulatory approval—and he is widely recognized for his ability to bring forward innovative treatments that address serious unmet medical needs. He has also served on advisory boards across academia, government, and industry.

    Consumer:888-INFO-FDA

    ###

    Boilerplate

    The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, radiation-emitting electronic products, and for regulating tobacco products.

    Content current as of:
    07/21/2025

    Follow FDA

    MIL OSI USA News –

  • MIL-OSI Africa: Minister of Planning, Economic Development, and International Cooperation Receives Her German Counterpart on Her First Visit to Egypt to Discuss Strengthening the Strategic Economic Partnership Between the Two Countries

    Source: APO


    .

    H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, received Ms. Reem Alabali-Radovan, Federal Minister for Economic Cooperation and Development of Germany, at the Government Headquarters in New Alamein City during her visit to the Arab Republic of Egypt, within the framework of strengthening bilateral economic cooperation between the two countries. The meeting comes as a follow-up to the fruitful discussions held during the 4th International Conference on Financing for Development (Ff4D) in Seville, Spain.

    At the beginning of the meeting, H.E. Dr. Rania Al-Mashat welcomed the German Minister on her first visit to Egypt and wished her success in her mission in the new German government, emphasizing the Arab Republic of Egypt’s appreciation for for the Egyptian-German economic relations, which represent a strategic partnership that reflects the keenness to advancing mutual interests and promoting development efforts, whether through bilateral governmental partnership, German investments in Egypt, and development cooperation efforts, adding that this visit marks a milestone in the process of cooperation between the two countries and reflects the depth of bilateral relations and common vision towards achieving sustainable development and economic growth.

    The two ministers discussed recent developments in Egyptian-German economic and investment relations, joint development projects, and explored new mechanisms for innovative financing, especially in light of the outcomes of the 4th International Conference on Financing for Development held in Seville, Spain, and the need for the international community to contribute more to financing development in developing countries and emerging economies. They also discussed the implementation of the European Investment Guarantee Mechanism (EFSD+), which comes in light of the Egypt-EU strategic partnership and contributes to increasing foreign direct investments to the local and foreign private sector in Egypt, in addition to the preparations for the convening of the 2025 Egyptian-German governmental negotiations.

    The two sides also discussed the outcomes of the 4th International Conference on Financing for Development, noting the importance of implementing recommendations of the UN expert group report on addressing debt challenges in Global South countries, which included 11 outcomes, such as redirecting and replenishing existing resources from multilateral development banks and the IMF to enhance liquidity, adopting policies to extend maturities, financing debt buybacks, reducing debt servicing during crises, reforming the G20 Common Framework to include all middle-income countries, and updating IMF and World Bank debt sustainability analysis (DSA) to better reflect the situation of low- and middle-income countries, among other measures.

    The Minister of Planning, Economic Development and International Cooperation also reviewed the key features of Egypt’s national narrative for economic development, which aims to achieve a structural transformation in the Egyptian economy towards tradable and exportable sectors by strengthening macroeconomic policies, encouraging foreign direct investment, promoting industrial development, and supporting labor market and employment policies, noting that Egyptian-German relations are reflected in achieving these objectives.

    In this context, H.E. Dr. Al-Mashat praised the success of the Egyptian-German Debt Swap Program, where the Egyptian government succeeded in signing debt swap agreements with a total value of €340 million to finance various development projects across multiple sectors, including the new tranche of the debt swap program worth €100 million for the period 2024–2026, explaining that the program contributed  to using the local currency equivalents of debt repayments to implement development projects in various sectors, including education and technical education, social protection, health, improving renewable energy supply. Ongoing coordination is underway to allocate €50 million from the program to support the energy pillar of the “NWFE” program, financing part of the local component for connecting ACWA Power (1) and (2) wind farms, with a total capacity of 1,100 MW. She reaffirmed that the Egyptian-German Debt Swap Program is a successful model for promoting financing for development.

    The discussion also touched on the Financial Cooperation Agreement between Egypt and Germany, which was signed on May 25, 2025, and includes a €118 million financing package in the form of concessional financing and financial contributions (complementary grants), and includes funding for the following projects: financial support for the Comprehensive Technical Education Initiative and the support for the establishment of 25 Egyptian Centers of Excellence. In the same context, the two sides also discussed the the status of the governmental negotiations to be held between the Egyptian and German sides at the end of this year, expressing their aspiration to enhance economic and development cooperation between the two governments, as well as allocating new financial contributions to finance development projects aimed at driving economic growth.

    Furthermore, H.E. Dr. Al-Mashat pointed out that, In light of the success of the country platform for the “NWFE” program and the international community’s expansion of the concept of national platforms to mobilize investments, work is currently underway, in coordination with the Ministry of Industry, the European Bank for Reconstruction and Development, and other development partners, to launch the first national platform to mobilize financing and technical support for the industrial sector. This aligns with the national narrative for economic development to support the state’s efforts in localizing industry and encouraging domestic production, noting that the narrative sets a unified vision for the Egyptian economy to shift towards tradable sectors.

    H.E. also highlighted the importance of strengthening South-South cooperation and triangular cooperation through German collaboration to stimulate efforts to transfer Egyptian expertise in the field of development to developing and emerging countries, noting Egypt’s keenness to advance the prospects of joint cooperation in the field of water within the “NWFE” program with the German side.

    For her part, the German Minister expressed her aspiration to build on the Egyptian-German strategic relations and the progress achieved in recent years to further advance joint cooperation in light of regional and global challenges.

    In the same context, the two sides addressed the Egyptian-German economic cooperation portfolio, which currently amounts to approximately €1.6 billion, aiming to implement various development projects across priority sectors that contribute to sustainable economic development including energy, climate, water supply, sanitation, irrigation, migration, solid waste management, and enhancing the competitiveness of the private sector, which are funded through multiple mechanisms, such as the Egyptian-German Debt Swap Program, concessional financing, financial contributions, and technical cooperation grants.

    Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation – Egypt.

    MIL OSI Africa –

  • MIL-OSI Africa: The U.S. International Development Finance Corporation (DFC) Strengthens United States (US)-Africa Critical Mineral Ties Ahead of African Mining Week (AMW) 2025

    Source: APO


    .

    The U.S. International Development Finance Corporation (DFC) approved two new investments for critical minerals projects in sub-Saharan Africa this month. The funding aims to accelerate economic development across the region while reinforcing US supply chains for minerals essential to the country’s defense, energy, security and advanced technology sectors. The investments will also drive infrastructure expansion, boost employment and increase export revenues for the African markets.

    The announcement comes ahead of the upcoming African Mining Week (AMW) conference – Africa’s premier gathering for mining stakeholders. The event will showcase the role being played by U.S. institutions such as the DFC in enhancing US-Africa ties in mining and investment. AMW will feature a dedicated US-Africa Roundtable, connecting U.S. policymakers and institutional investors with African governments, project developers and stakeholders for partnership formation, deal signing and policy alignment.

    AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

    In the last two years, the DFC has been advancing US–Africa mining collaboration through a growing portfolio of investments, loans and technical assistance grants. Among these is the DFC’s $5 million funding package for Blencowe Resources, aimed at developing the Orom-Cross graphite project in Uganda. In July 2025, Blencowe received a $750,000 tranche as part of this commitment, following an earlier $500,000 disbursement in May. The final $250,000 payment will support the project’s definitive feasibility study. With a JORC Indicated and Inferred Resource of 24.5 million tons at 6.0% total graphite content, Orom-Cross is expected to operate for 21 years, contributing to Uganda’s economic transformation and in meeting growing global demand for battery-grade graphite.

    Other recent DFC commitments include a $553 million loan for the Lobito Corridor, a project aimed at improving mineral transportation for Angola, Zambia and the Democratic Republic of Congo. The DFC also approved a $3.4 million technical assistance grant for the Longonjo Rare Earths Project in Angola, a $50 million equity investment in the Phalaborwa Rare Earths Project in South Africa and a $3.2 million grant for Chillerton’s green copper mining project in Kakosa, Zambia. In Tanzania, the DFC is also backing Kabanga Nickel Limited with a loan to support the development of one of Africa’s most significant nickel sulphide deposits.

    With this growing investment footprint, the DFC continues to position itself as a key partner in unlocking Africa’s mineral potential while advancing US strategic interests. AMW 2025 will serve as a powerful platform to build on this momentum, facilitating collaboration, catalyzing new investments and reinforcing US-Africa partnerships in mineral development.

    Distributed by APO Group on behalf of Energy Capital & Power.

    MIL OSI Africa –

  • RRBs reduced from 43 to 28 to simplify management, ease of service delivery: FM Sitharaman

    Source: Government of India

    Source: Government of India (4)

    The amalgamation of Regional Rural Banks (RRBs) has resulted in formation of a state-level RRB with contiguous area of operation leading to simplifying management and ease of service delivery, Finance Minister Nirmala Sitharaman said on Monday.

    In a written reply to a question on the first day of the Parliament’s Monsoon Session, FM Sitharaman said that guided by the principle of ‘One State-One RRB’, the government continued with the process of further consolidation of RRBs in “Phase IV amalgamation” to achieve the benefits of scale efficiency and cost rationalisation, whereby number of RRBs has been reduced from 43 to 28 (with effect from May 1, 2025) in 26 states and 2 UTs.

    “The RRBs have increased their capital base, enhancing the financial stability and resilience of the merged entity. By consolidating operations and eliminating redundancies on account of separate administrative structures, amalgamation is expected to lead to cost savings,” the finance minister informed.

    Further, amalgamated RRBs can invest in and leverage advanced technology platforms, leading to improved operational efficiency and customer service, she mentioned in her reply in the Lok Sabha.

    The government has constituted state-level monitoring committee (SLMC) and national-level project monitoring unit (NLPMU) to oversee and monitor the implementation of the amalgamation programme.

    “NABARD has issued National Level Standard Operating Procedure (SOP), containing detailed guidelines, which, inter alia, advises setting up of Amalgamation Project Management Unit (APMU), Steering Committee and Functional Committees in every anchor/transferee RRB to finalise the harmonised policies and operational guidelines, and to handle day-to-day integration plan,” the finance minister noted in her reply.

    A study on the impact of amalgamation of RRBs on their financial performance was undertaken by NABARD in 2021 and it was observed that the amalgamation process in the past had resulted in improved viability and financial performance of the RRBs.

    The study revealed that during the different phases of amalgamation, the share of profitable and sustainably viable RRBs improved continuously and the quantum of accumulated losses as a percentage of total assets also declined

    (IANS)

  • MIL-OSI United Kingdom: Safety improvements made at at former colliery site

    Source: United Kingdom – Executive Government & Departments

    News story

    Safety improvements made at at former colliery site

    The Mining Remediation Authority has completed essential safety work at the former Morton Colliery site in Derbyshire.

    Safety works being undertaken at the former Morton Colliery site.

    The works involved capping a disused mine shaft, clearing the old heapstead building around the shaft and demolishing a derelict electrical substation to help protect the public and ensure long-term safety for the local community.

    Although the 275m deep mine shaft, also known as the Morton Upcast shaft, was secure before we started the works, it had never been fully treated to modern standards. 

    The heapstead building and substation were in a secure area of the former colliery site, but had started to deteriorate and be occasionally vandalised and had become a safety concern 

    To provide a permanent, modern solution, the shaft was capped with a reinforced concrete slab – around 0.8 metres thick and placed at a depth of 6.5m below ground level. The heapstead building and substation were demolished and all the materials removed from the site.

    Safety works being undertaken at the former Morton Colliery site.

    James Walker, project manager for our public safety and subsidence team said:  

    We are committed to keeping people safe and providing peace of mind and these works demonstrate our ongoing efforts to mitigate risks associated with disused mining infrastructure and help create safer communities.

    With the works complete, plans for the future of the site, such as the development of a memorial garden can now also be considered so that the rich mining history of this area is acknowledged appropriately.

    Coal mine hazards can be reported to us 24 hours a day, 7 days a week by calling 0800 288 4242.

    For media enquiries contact the community response team

    Email communityresponse@miningremediation.gov.uk

    Telephone 0800 288 4211

    For emergency media enquiries (out of hours) call: 0800 288 4242.
    Only urgent media calls will be attended to.

    Updates to this page

    Published 21 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New HMRC service announced for workers to take control of their tax affairs

    Source: United Kingdom – Executive Government & Departments

    Press release

    New HMRC service announced for workers to take control of their tax affairs

    New PAYE service announced to save around 35 million taxpayers’ time.

    • New PAYE service to make tax system simpler and easier for around 35 million workers.
    • At least 90% of customer interactions with HMRC to be digital by 2030.
    • Reducing post and letters to save £50 million a year – equal to almost 1,500 full time nurses.

    Workers are set to take control of their tax affairs as the government today (21 July 2025) announces a new online Pay As You Earn (PAYE) service for around 35 million UK taxpayers as HM Revenue and Customs (HMRC) sets out more than 50 measures to transform the UK’s tax and customs system.

    The new online service for all PAYE taxpayers will make it simpler and easier to check and update their income, allowances, reliefs and expenses, and will be available via their Personal Tax Account or through the HMRC app.

    This service forms part of HMRC’s Transformation Roadmap launched today that sets out ambitious plans to become a digital first organisation by 2030, with 90% of customer interactions taking place digitally.

    The roadmap sets out more than 50 IT projects, services and measures that, once delivered, will transform the UK’s tax and customs systems, simplifying processes and making it easier to pay the tax that funds public services and deliver the government’s Plan for Change.

    The plans to modernise the tax and customs system, introduce new AI technologies and work with third parties and intermediaries will make it easier for taxpayers, businesses and intermediaries to interact with HMRC.

    The digital first approach will see HMRC automating tax wherever possible and offering new digital self-serve options across a number of tax regimes.

    Alongside the new PAYE service, HMRC will save £50 million a year – the equivalent of almost 1,500 full time nurses – by moving customer letters and reminders to a digital first approach, reducing the reliance on paper correspondence, by the 2028 to 2029 tax year. Paper post provision will remain for critical correspondence and for the digitally excluded.

    Increasing the use and investment in AI will enable customers to meet their tax obligations and allow HMRC to monitor the tax system in near real time. HMRC plans to introduce AI in work areas including:

    • HMRC advisers and caseworkers: using AI capability to automate call summaries and the use of internal GenAI Chat Assistants to support them in their work
    • Digital assistants: developing new AI-powered features to help customers easily navigate HMRC services and improve the ability to update HMRC’s content and guidance on GOV.UK
    • Compliance: delivering an automatic document identifier system for HMRC caseworkers to identify fraudulent documents during compliance activities by using a biometric likeness-liveness check

    HMRC will work with developers to create a set of principles which will set out HMRC’s expectations of how third parties use AI in software where it interacts with the department and the tax administration system. These principles will give developers the confidence to introduce AI functionality into their products in the UK and minimise the risk of those products introducing error or non-compliance.

    James Murray MP, Exchequer Secretary to the Treasury, said:

    We are going further and faster to make HMRC fit for the 21st century, including delivering a simpler and easier system for all PAYE workers.

    By 2030, taxpayers can expect a modern and innovative HMRC with cutting-edge AI, industry-leading customer service practices, and a laser focus on delivering taxpayer value for money by ensuring everyone pays their fair share.

    Mr Murray’s key priorities for the department are to improve day-to-day performance and the customer experience, reform and modernise the tax and customs system and to close the tax gap. As announced at the Spending Review 2025, £1.7 billion will be provided to HMRC over 4 years to fund an additional 5,500 compliance and 2,400 debt management staff – to ensure more of the tax owed is paid, to fund public services.

    HMRC is focusing on tackling wealthy offshore tax non-compliance, with an additional 400 people set to work on wealthy offshore tax risks. This includes experts in private sector wealth management, who will help find and tackle non-compliance more effectively and train HMRC compliance staff.

    JP Marks, HMRC’s Chief Executive and First Permanent Secretary, said:

    The Government’s ambition is for a simpler tax and customs system and this roadmap sets out how HMRC will deliver a first-class experience that feels different to their customers.

    By 2030, UK citizens will experience a tax administration system that is more automated, more focused on self-service, and better set up to get things right first time so they can fulfil their tax obligations.

    The Transformation Roadmap sets out timescales for delivery and HMRC is committed to reporting on progress. Work is underway to deliver some of the measures set out in the roadmap this tax year, including:

    • extending the rollout of the SMS confirmation service to Self Assessment appeals, complaint cases and some PAYE services
    • improving Self Assessment registration service and streamlining the exit process for those customers who no longer need to file a Self Assessment tax return
    • expanding the rollout of the voice biometrics pilot to make customer verification easier when calling HMRC’s helplines
    • a new service to give employed parents, who are newly liable for the High Income Child Benefit Charge, the choice to pay it directly through their tax code without needing to register for Self Assessment
    • launching an enhanced reward scheme for informants, targeting information on serious non‑compliance in large corporates, wealthy individuals, offshore and avoidance schemes. The new scheme will reward informants with compensation linked to a percentage of any tax taken

    Further measures and projects to be delivered as part of the roadmap include:

    • digitalising the Inheritance Tax service to provide a modern, easy-to-use system, that makes submitting returns and paying tax simpler and quicker.
    • launching a new service to allow agents to digitally submit information which may impact their client’s tax code
    • delivering a Digital Disclosure Service to allow customers and intermediaries to correct mistakes, pay liabilities and penalties for all taxes and duties
    • introducing an electronic trade documentation pilot to see how it could improve customs operations
    • progressing the Verifiable Credentials pilot with US Customs and Border Protection to test the use of new internationally interoperable digital credentials and identity standards

    HMRC wants to incentivise taxpayers to pay their tax on time by simplifying and strengthening penalties. In the 2023 to 2024 tax year, HMRC collected 94.7% of the total tax due. Those who meet their obligations and pay their tax on time should not be disadvantaged by the minority who don’t follow the rules. HMRC will update on modernising behavioural penalties later this year.

    New legislation will come into effect from April 2026 to tackle tax avoidance and fraud by umbrella companies. Many umbrella companies operate within the law but the dishonest few can mean taxpayers are left with large and unexpected tax bills. The legislation will make recruitment agencies that use umbrella companies legally responsible for accounting for PAYE on workers’ pay.

    Further information

    The Transformation Roadmap can be found on GOV.UK.

    The new AI principles for organisations who interact with HMRC and the tax administration system will be informed by government AI and GenAI frameworks.

    Updates to this page

    Published 21 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Government initial response to Independent Water Commission’s final report

    Source: United Kingdom – Executive Government & Departments

    Speech

    Government initial response to Independent Water Commission’s final report

    Environment Secretary Steve Reed sets out the government’s initial response to the Independent Water Commission final report, led by Sir Jon Cunliffe.

    Good morning everyone. Welcome to this beautiful venue.

    I’ve just watched Sir Jon Cunliffe’s statement presenting his report.

    I’d like to start by thanking Sir Jon Cunliffe and his team for the huge amount of work they have put into reviewing the regulation of our water industry.

    He’s produced an outstanding report that I will respond to in more detail in the House of Commons this afternoon. But I’d like to make some initial comments now.

    It is clear the water industry is broken.  

    Our rivers, lakes and seas are polluted with record levels of sewage.  

    Water pipes have been left to crumble into disrepair.  

    Soaring water bills are straining family finances. 

    There are hosepipe bans across the country right now because not a single new reservoir has been built in over 30 years,  

    The lack of water infrastructure is holding back economic growth. 

    Water companies have been allowed to profit at the expense of the British people when they should have been investing to fix our broken water pipes.  

    A broken regulatory system let them get away with this.    

    Failing customers, investors and the environment.   

    The public expressed their fury in last year’s General Election, and they voted for change.     That change will now come.   

    In just one year, this government has put in place the building blocks to clean up our rivers, lakes and seas.  

    First, we restored accountability by giving the regulators more teeth with a ban on unfair bonuses, severe and automatic penalties for breaking the law, and jail sentences for serious offences.    

    Second, we have launched one of the biggest infrastructure projects in British history to clean up our rivers, lakes and seas.  

    £104 billion pounds of private sector investment will rebuild the entire water network.  

    Upgrading crumbling pipes, repairing leaks and building new sewage treatment works around the country. 

    This is the biggest-ever investment in the water sector’s history and it allows me to make a new commitment to the country:  

    This government will cut water companies’ sewage pollution in half within five years. 

    This is the most ambitious sewage target the government has ever set.  

    Over a decade of national renewal, we will restore our rivers, lakes and seas to good health. 

    The third building block for change is today’s final report from Sir Jon Cunliffe’s Independent Water Commission.   

    It offers a blueprint for fixing our broken regulatory system so the failures of the past can never happen again.   

    I agree that water regulation has been too weak and too ineffective.   

    Having four separate regulators with overlapping and conflicting remits has created a merry-go-round that has failed customers and the environment.   

    Ofwat has failed to protect customers from water companies’ mismanagement of their hard-earned money.   

    Today I can announce that the Labour Government will abolish Ofwat.   

    In the biggest overhaul of water regulation in a generation we will bring water functions from four different regulators into one:  A single powerful regulator responsible for the entire water sector.   

    There are four further recommendations that the government can accept immediately and I will outline these in Parliament this afternoon.

    The new regulator will stand firmly on the side of customers, investors and the environment and prevent the abuses of the past. 

    For customers, it will oversee investment and maintenance so hardworking British families are never again hit by the shocking bill hikes we saw last year as customers paid the price of 14 years of failure by the previous government. 

    For investors, it will end the tangle of ineffective regulation and provide the clarity and direction required for a strong

    partnership between Government, the sector and investors to attract billions of pounds of new funding. 

    For the environment, it will cut all forms of pollution to clean up our rivers, lakes and seas for good.   

    We will legislate to set up the new regulator, and I will provide more details of this in Parliament later today. 

    Ofwat will remain in place during the transition to the new regulator and I will ensure they provide the right leadership to oversee the current price review and investment plan during that time. 

    This Labour Government was elected to clean up water pollution.   

    We now have all the building blocks in place to make that happen.   

    This is our chance to make sure our children – and their children – can create the same wonderful memories we remember from our childhoods.  

    Splashing about in the waves on a beach, rowing along a river, without having to worry about toxic sewage pollution.  

    Today marks the start of a water revolution. 

    We are establishing a new partnership where water companies, investors, communities and the government will work together to clean up our rivers, lakes and seas for good.

    Updates to this page

    Published 21 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Presidents of Kyrgyzstan and Mongolia discussed key areas of bilateral cooperation

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BISHKEK, July 21 (Xinhua) — Talks were held in Bishkek on Monday between Kyrgyz President Sadyr Japarov and Mongolian President Ukhnaagiin Khurelsukh as part of the latter’s state visit to the Kyrgyz Republic, the Kyrgyz president’s Telegram channel reported.

    The parties discussed key areas of bilateral cooperation, including politics, trade and economics, transport and agriculture. Particular attention was paid to digitalization, the development of cultural and humanitarian ties and tourism.

    S. Japarov emphasized that Kyrgyzstan and Mongolia are states historically linked by ties of friendship, the roots of which go back to ancient times. “Comprehensive cooperation with Mongolia is one of the priority areas of development of Kyrgyzstan’s foreign policy,” he noted.

    The President of Kyrgyzstan expressed confidence that the visit of the head of Mongolia will give a powerful impetus to further strengthening political dialogue, expanding trade and economic ties and developing cultural and humanitarian cooperation.

    In turn, U. Khurelsukh emphasized that this visit provides a good opportunity to jointly with the President of Kyrgyzstan to sum up the 30-year path of bilateral relations, assess the implementation of the agreements reached, and also determine priority areas and prospects for cooperation filled with specific economic content.

    “For Mongolia, Kyrgyzstan is an important partner in Central Asia and a kind of bridge connecting the region. We strive to develop mutually beneficial cooperation in all areas, especially in the trade and economic sphere,” the President of Mongolia noted.

    Following the talks, the heads of the two states signed a Joint Declaration on the establishment of a comprehensive partnership between Kyrgyzstan and Mongolia, as well as a number of other documents aimed at increasing cooperation. –0–

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

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    MIL OSI Russia News –

  • MIL-OSI United Kingdom: Grand ambition calls on city’s musicians to revive Victorian golden oldies

    Source: City of Leeds

    They were the boisterous barroom ballads that once rattled the rafters of Victorian music halls across Leeds.

    Now librarians are calling on the city’s modern-day musicians and singers to help them bring an incredible collection of vintage sheet music to life for the first time in more than a century.

    The array of late 19th and early 20th century songs is part of a vast collection at Leeds Central Library, which includes a combination of well-known musical classics alongside forgotten songs penned by local composers.

    Usually having comic, satirical or political themes, the raucous melodies would have been a hit with the eager crowds who packed into music halls and theatres which were hugely popular at the turn of the 20th century.

    With a small selection of sheet music currently on display outside the building’s newly refurbished music library, the search is now on for pianists and vocalists to perform more pieces at a series of events planned to celebrate Heritage Open Days this September.

    The library is keen to hear from local pianists and singers who think they can take on the challenge of performing the historic hits, some of which have not been played in more than a hundred years.

    Tunes which make up the collection include famed classics such as Ride a Cock Horse, billed as a “drawing room comic song” performed by Harry Liston, and George Leybourne’s “great comic song” The Organ Man which he both wrote and performed.

    They are joined by titles including The Parson and the Clerk, sung by G H MacDermott and The Mouse-Trap Man, also by George Leybourne.

    Other highlights include Mr and Mrs Baggs, described as “a most thrilling narrative giving an account of the frightful apparition, the appearance of which so affected Mrs B’s nerves that she was laid up for seven weeks after.”

    The front cover shows the eponymous, pyjama clad Mr Baggs brandishing a blunderbuss at a terrified cat as his horrified wife looks on.

    Lee Noon, music librarian at Leeds Central Library, said: “Music hall tunes like these were once a hugely popular part of leisure and entertainment in cities like Leeds, and would have been enjoyed by people of all different classes and backgrounds- they were very much the pop songs of their day.

    “Many of these songs won’t have been performed or heard by an audience for more than a century now, and we’d love to give people in Leeds the chance to experience them again and for our local musicians to try and recapture a bit of what was really the golden age of music halls.

    “Each of these pieces of music represents a little bit of the city’s musical history and it would be a really special moment to help bring them back to life again.”

    The music hall songs are just one element of Leeds Central Library’s huge collection of sheet music. One of the biggest collections in the UK, the library loans pieces to orchestras and musical institutions across the country.

    As well as a piano available to use, the building’s newly refurbished music library also includes specially created walk-in recording studios and podcasting facilities.

    Councillor Mary Harland, Leeds City Council’s executive member for communities, customer service and community safety, said: “Our music library and its collection is an incredible resource for the city and a great example of the multi-faceted role which libraries have in our city and its communities.

    “Having such a historic and unique array of music housed in Leeds is a real privilege and it will be wonderful if we can involve local talent in performing some pieces to celebrate the city and its heritage.”

    Any pianists, singers and groups interested in performing some of the pieces this September can contact lee.noon@leeds.gov.uk using the subject line “Heritage Week Piano.”

    More information about Leeds Central Library including facilities and opening hours can be found at: Central Library | Leeds Library

    ENDS

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Health bosses won’t be rewarded for failure under new regulations

    Source: United Kingdom – Executive Government & Departments 2

    Press release

    Health bosses won’t be rewarded for failure under new regulations

    NHS managers who commit serious misconduct won’t be able to take up other senior NHS roles, under plans to boost patient safety.

    • Managers who commit serious misconduct will be banned under proposals
    • Patients to benefit from proposals to professionalise NHS management
    • Whistleblowers will be protected under new regulations

    NHS managers who commit serious misconduct won’t be able to take up other senior NHS roles, under plans to boost patient safety.

    The new proposals set out by the Department of Health and Social Care will mean any leader who silences whistleblowers or behaves unacceptably will be banned from returning to a health service position.

    They set out the first steps to meet the government’s commitment to introduce professional standards for, and regulation of, NHS managers, with legislation set to be put forward to Parliament next year.

    Tens of thousands of clinical and non-clinical managers work in the NHS but there is currently no regulatory framework specifically for managers, like there is for doctors and nurses.

    Wes Streeting, Secretary of State for Health and Social Care, said:

    I’m determined to create a culture of honesty and openness in the NHS where whistleblowers are protected, and that demands tough enforcement. If you silence whistleblowers, you will never work in the NHS again. We’ve got to create the conditions where staff are free to come forward and sound the alarm when things go wrong. Protecting the reputation of the NHS should never be put before protecting patient safety.

    I promised no more rewards for failure in the NHS, and these measures will deliver on it. Most NHS leaders are doing a fantastic job, but we need to stop the revolving door that allows managers sacked for misconduct or incompetence to be quietly moved to another well-paid role in another part of the NHS.

    The reforms we are making through our Plan for Change will slam the door in the face of unsuitable managers, while providing the training, support, and development to help NHS leaders thrive and lead the NHS into a brighter future.

    Reviews by Tom Kark KC, General Sir Gordon Messenger and the Infected Blood Inquiry all highlighted the need for strong, transparent and accountable leadership.

    The new proposals, developed following a public consultation, will strengthen health service leadership and professionalise NHS management as part of the 10 Year Health Plan.

    The consultation, launched in November last year, received more than 4,900 contributions on ways in which managers and leaders could be regulated.

    In response, the government will develop a proportionate regulatory system that focuses where need is greatest. It will ensure that those who have committed serious misconduct are no longer able to work in senior NHS management positions, preventing unacceptable behaviour and improving patient safety. 

    The statutory barring system will be for board-level directors and their direct reports within NHS bodies.

    Further legislation will set out new statutory powers for the Health and Care Professions Council (HCPC) to disbar NHS leaders in senior roles who have committed serious misconduct.

    Separate NHSE professional standards for managers will establish a consistent, national set of expectations about NHS management and leadership competency and conduct.

    This follows last year’s announcement of a new College of Executive and Clinical Leadership to attract, develop and keep the best talent in NHS leadership.

    Regulation will come alongside support and development, with managers being given the tools they need to meet standards and succeed in their roles.

    Sam Allen, NHS National Director for Leadership and Management, said: 

    The 10 Year Health Plan was clear about the huge importance of excellent leadership and management, both to the quality of patient care and staff experience now, and to how we deliver the plan’s ambitions for the future.

    Managers will welcome this new regulatory framework, as part of the broader package of actions set out in the Plan to attract, develop, and retain the best possible leaders for the NHS of today and tomorrow.

    Accountability is a crucial part of this, and can only boost trust with patients, the public and other professionals.

    Tom Kark KC, author of the Kark Review, said:

    I am pleased that the recommendation made in my report into the application of the NHS Fit and Proper Person Test to create a power to disqualify Board Directors found guilty of serious misconduct is being implemented. 

    Along with the ongoing implementation of my other recommendations for improving Board competence, this is a positive move to strengthen management in the NHS by weeding out poor leadership.  This is good news for whistleblowers and those looking for accountability in senior management which has long been lacking.

    Rachel Power, chief executive of The Patients Association, said:

    Patients have told us they expect NHS managers to be held to the same high standards as clinical staff, and that should include consistent regulation. A clear, fair process to prevent those who commit serious misconduct from returning to senior roles will be an important step forward, and it’s vital that patient involvement continues to shape proposals as further regulation is considered.

    We’re pleased to see a commitment to meaningful support and development for NHS managers, because the best way to address serious failings is to help prevent them from happening in the first place.

    The proposals come as part of a package of essential reforms needed to rebuild the NHS so it is fit for the future through the government’s Plan for Change.

    Updates to this page

    Published 21 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Government to improve rules for building crab boats

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    Document

    Resolution of July 17, 2025 No. 1075

    The government has amended the requirements for crab boat construction projects under the investment quota mechanism. After the agreement with the previous investor is terminated, new companies will be able to begin completing the vessels under the same conditions.

    The government has amended the requirements for projects to build crab vessels under the investment quota mechanism

    “The fishing shipbuilding industry is currently on the rise, including thanks to the deep modernization of production. The “keel quota” mechanism has restarted the process of creating a Russian fishing fleet. The amendments adopted by the Russian Government will allow us to quickly respond to changes in the situation and, in the event of shipbuilding companies or investors withdrawing from projects, without losing momentum, to involve other participants – for the successful and timely completion of the construction of new crab vessels,” said Deputy Prime Minister Dmitry Patrushev.

    The practice of recent years has shown that the existing regulatory framework made it difficult to complete the construction of crab vessels. If the agreements were terminated for any reason, then upon completion of construction it was impossible to ensure compliance with current requirements for industrial products and the conclusion of new investment contracts for the completion of such vessels. The discrepancy was identified during meetings in the format of incident No. 42 “Fishing vessels” chaired by Deputy Prime Minister Dmitry Patrushev. Thus, the changes introduced by the Government will allow new contracts to be concluded with investors for the freed up shares of the investment quota.

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

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  • MIL-OSI Russia: State-owned companies’ purchases from SMEs exceeded 3.8 trillion rubles in the first half of 2025

    Translation. Region: Russian Federal

    Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

    An important disclaimer is at the bottom of this article.

    According to the results of the first half of 2025, the volume of purchases by government customers from small and medium-sized businesses under Federal Law 223 amounted to more than 3.8 trillion rubles, and the number of contracts exceeded 428 thousand. Almost 150 thousand SMEs became suppliers, which is 4.4% more than a year earlier.

    “The participation of small and medium-sized businesses in state-owned company purchases gives them access to a stable sales market. We see how the number of SME suppliers increases year after year and the range of purchased products expands. If earlier small businesses mainly purchased office supplies, furniture or paper, now it is increasingly industrial products. This indicates that small businesses are able to meet the demand of large companies in terms of quality and volume. Compared to the same period last year, the number of SME suppliers who concluded contracts as a result of state purchases increased by more than 6.3 thousand and reached almost 150 thousand from all regions of Russia. By the end of 2025, the total volume of purchases from SMEs may exceed 9 trillion rubles,” said Deputy Prime Minister of the Russian Federation Alexander Novak.

    Alexander Novak emphasized the need to meet the payment deadlines for contracts with small and medium businesses. According to him, this is of strategic importance, since timely payments ensure the stability of SMEs, preventing cash flow gaps and creating conditions for the development of enterprises.

    The leading regions in terms of the amount of purchases from small and medium businesses were Moscow (more than 1.2 trillion rubles), St. Petersburg (345 billion rubles), the Republic of Tatarstan (almost 250 billion rubles), Moscow Region (more than 200 billion rubles) and Sverdlovsk Region (almost 130 billion rubles).

    “We are noting the positive dynamics of growth in the volume of purchases from small and medium-sized businesses in a number of regions. The Republic of Tatarstan showed significant growth – almost 25 billion rubles, Samara and Rostov regions – more than 24 and 23 billion, respectively, the Donetsk People’s Republic – over 12 billion rubles, as well as the Yaroslavl region – more than 11.5 billion. The top ten leaders in terms of the rate of increase in purchases also included Primorsky Krai, Khanty-Mansi Autonomous Okrug – with volumes of over 11.3 billion rubles, the Republic of Sakha (Yakutia) – 11.3 billion, as well as the Irkutsk Region and the Udmurt Republic, where volumes exceeded 9 billion rubles. These results are an indicator of the active involvement of SMEs in the public procurement system and a reflection of targeted work to develop entrepreneurship in the regions,” commented Deputy Minister of Economic Development of Russia Tatyana Ilyushnikova.

    For companies with state participation, there is a mandatory 25% quota for purchases from small and medium-sized businesses. It was established by the Government of the Russian Federation, and compliance is monitored by the SME Corporation and regional government agencies. Expanding the participation of small and medium-sized businesses in purchases under Federal Law No. 223 is one of the objectives of the federal project “Small and Medium-sized Entrepreneurship” of the national project “Efficient and Competitive Economy”.

    “Based on the results of the first half of 2025, manufacturing products came out on top in terms of purchase volumes from SME suppliers. Over the course of six months, the largest customers purchased over 1.3 trillion rubles worth of them. This is an important trend both for assessing the state of the SME sector in terms of competencies in supplying industrial products, including high-tech ones, and for continuing the qualitative growth of the segment. The leading industries also included services for scientific, engineering, technical and professional activities (209.1 billion rubles), as well as IT, where the purchase volume amounted to 170 billion rubles,” said Alexander Isaevich, CEO of the SME Corporation.

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  • MIL-OSI Russia: Dmitry Grigorenko: More than a third of the first wave of industrial competence center projects have been successfully completed

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    Within the framework of industrial competence centers, the implementation of 66 IT products of the first wave has been completed. They have already been implemented by more than 500 Russian and foreign companies – from chain retailers to airports and nuclear industry enterprises. More than 135 thousand jobs have been transferred to domestic software solutions that were implemented within the framework of the ICC.

    In total, the first wave of particularly significant projects included 150 solutions that replace foreign software used in key sectors of the economy. Among the completed developments are 59 projects implemented using the companies’ own funds, as well as 7 projects implemented with the involvement of grant funds.

    “We are faced with the task of developing, including with government support, IT products that are not inferior in functionality to foreign ones, so that it would be interesting and profitable for businesses to implement them. And judging by the completed projects of the first wave, such mature domestic solutions exist. They have gone beyond the pilot stage and are already used by hundreds of companies,” said Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko.

    Among the completed solutions that are most actively replicated is the creation of a software and hardware complex (operating system, office software, browser, antivirus) designed to automate the activities of specialists (a project commissioned and funded by Rosatom State Corporation). It is necessary to transfer automated workstations that previously used Microsoft to domestic software. During the project, more than 133 thousand workstations of 150 nuclear industry organizations were transferred to Russian software. The active replication of the project continues.

    Another development within the framework of the ICC, which has already been implemented and is in great demand among Russian companies, is the Russian loyalty system Loyalty 2.0 for retail outlets. It has already been implemented by more than 50 Russian companies, such as Magnit, Domashniy Interier (Hoff), Dixie, Medsi, Rive Gauche, as well as three foreign companies. The solution uses data on customer purchases and preferences to create personalized offers and manage marketing campaigns. The system allows processing more than 6 thousand customer requests every second. The developer’s revenue from sales of the solution amounted to about 1 billion rubles.

    The solutions that showed the best sales revenue figures also included a digital platform for field design commissioned by JSC Rosgeo. The solution was developed with the help of grant funds. It is already being used in 33 companies. The solution’s sales revenue amounted to almost 160 million rubles (340% of the grant amount), and the return on government investment in the form of taxes was more than 72 million rubles (154% of the grant amount).

    In total, about 200 particularly significant projects are currently being implemented in Russia within the framework of the ICC. Most of the first wave projects will be implemented by the end of 2026. In May 2025, the second wave of ICC projects was launched. Within its framework, 49 projects were selected and supported. 17 of them received grant funding in the amount of 3.2 billion rubles. Completion of the implementation of most of the second wave projects is planned for the end of 2027.

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

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