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Category: Politics

  • MIL-OSI: Check Point Software Reports 2025 First Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Israel, April 23, 2025 (GLOBE NEWSWIRE) — Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the quarter ended March 31st, 2025.

    First Quarter 2025 Financial Highlights:

    • Cash Flow from Operations: $421 million, a 17 percent increase year over year
    • Calculated Billings* reached $553 million, a 7 percent increase year over year
    • Remaining Performance Obligation (RPO)**: $2.4 billion, an 11 percent increase year over year
    • Total Revenues: $638 million, a 7 percent increase year over year
    • Products & Licenses Revenues: $114 million, a 14 percent increase year over year
    • Security Subscriptions Revenues: $291 million, a 10 percent increase year over year
    • GAAP Operating Income: $196 million, representing 31 percent of total revenues
    • Non-GAAP Operating Income: $259 million, representing 41 percent of total revenues
    • GAAP EPS: $1.71, a 7 percent increase year over year
    • Non-GAAP EPS: $2.21, a 9 percent increase year over year

    “The first quarter results have provided a solid foundation to expand upon as we progress through the year.  Strong demand for our Quantum Force appliances, fueled by refresh cycles and new projects delivered double-digit year-over-year growth in products and licenses revenues,” stated CEO Nadav Zafrir. “The AI-driven Infinity Platform, featuring a Hybrid Mesh Architecture, continues to resonate with customers and delivered another quarter of impressive double-digit year-over-year growth.”

    For information regarding the non-GAAP financial measures discussed in this release, as well as a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures, please see below “Use of Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Information.”

    Conference Call & Video Cast Information
     Check Point will host a conference call with the investment community on April 23, 2025, at 8:30 AM ET/5:30 AM PT. To listen to the live videocast or replay, please visit the website www.checkpoint.com/ir.

    Second Quarter 2025 Investor Conference Participation Schedule

    • Barclays Americas Select Franchise Conference 2025
      May 6, 2025, London, UK – Fireside Chat & 1×1’s
    • J.P. Morgan 53rd Annual Technology, Media, and Telecom Conference
      May 13-15, 2025, Boston, MA – Fireside Chat & 1×1’s
    • Oppenheimer 26th Annual Israeli Conference
      May 18, 2025, Tel Aviv, Israel – Fireside Chat & 1×1’s
    • TD Cowen 53rd Annual TMT Conference
      May 28, 2025, NY, NY – Fireside Chat & 1×1’s
    • Jefferies Software Summit
      May 29, 2025, Newport Coast, CA – Fireside Chat &1×1’s
    • Stifel 2025 Cross Sector 1×1 Conference
      June 3, 2025, Boston, MA – 1×1’s
    • Baird 2025 Global Consumer, Technology & Services Conference
      June 4, 2025, SF, CA – 1×1’s
    • Bank of America Merrill Lynch 2025 Global Technology Conference
      June 5, 2025, SF, CA – Fireside Chat & 1×1’s
    • TD Cowen 2nd Annual Corporate Access Day
      June 17, 2025, Toronto, Canada – 1×1’s

    Members of Check Point’s management team are expected to present at these conferences and discuss the latest company strategies and initiatives. Check Point’s conference presentations are expected to be available via webcast on the company’s web site. To hear these presentations and access the most updated information please visit the company’s web site at www.checkpoint.com/ir. The schedule is subject to change.

    Follow Check Point via:
    Twitter: http://www.twitter.com/checkpointsw
    Facebook: https://www.facebook.com/checkpointsoftware
    Blog: http://blog.checkpoint.com
    YouTube: http://www.youtube.com/user/CPGlobal
    LinkedIn: https://www.linkedin.com/company/check-point-software-technologies

    About Check Point Software Technologies Ltd.
    Check Point Software Technologies Ltd. (http://www.checkpoint.com) is a leading AI-powered, cloud-delivered cyber security platform provider protecting over 100,000 organizations worldwide. Check Point leverages the power of AI everywhere to enhance cyber security efficiency and accuracy through its Infinity Platform, with industry-leading catch rates enabling proactive threat anticipation and smarter, faster response times. The comprehensive platform includes cloud-delivered technologies consisting of Check Point Harmony to secure the workspace, Check Point CloudGuard to secure the cloud, Check Point Quantum to secure the network, and Check Point Infinity Core Services for collaborative security operations and services.

    Legal Notice Regarding Forward-Looking Statements
    This press release contains forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, expectations regarding our products and solutions, and our participation in investor conferences and other events during the second quarter of 2025. Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected. These risks include our ability to continue to develop platform capabilities and solutions; customer acceptance and purchase of our existing solutions and new solutions; the market for IT security continuing to develop; competition from other products and services; appointments and departures of our executive officers; and general market, political, economic, and business conditions, including acts of terrorism or war. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 17, 2025. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law.

    Use of Non-GAAP Financial Information
     In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, Check Point uses non-GAAP measures of operating income, net income and earnings per diluted share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets and acquisition related expenses and the related tax affects. Check Point’s management believes the non-GAAP financial information provided in this release is useful to investors’ understanding and assessment of Check Point’s ongoing core operations and prospects for the future. Historically, Check Point has also publicly presented these supplemental non-GAAP financial measures to assist the investment community to see the company “through the eyes of management,” and thereby enhance understanding of its operating performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release to the most directly comparable GAAP financial measures is included with the financial statements contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such has determined that it is important to provide this information to investors.

    * Calculated Billings is a measure that we defined as total revenues recognized in accordance with GAAP plus the change in Total Deferred Revenues during the period.

    ** Remaining Performance Obligation (RPO) is a measure that represents the total value of non-cancellable contracted products and/or services that are yet to be recognized as Revenue as of March 31, 2025.

    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    CONSOLIDATED STATEMENT OF INCOME
     
    (Unaudited, in millions, except per share amounts)
     
      Three Months Ended
      March 31,
      2025   2024
    Revenues:      
    Products and licenses $ 114.1   $ 100.3
    Security subscriptions   290.6     263.4
    Total revenues from products and security subscriptions   404.7     363.7
    Software updates, maintenance and services   233.1     235.1
    Total revenues   637.8     598.8
           
    Operating expenses:      
    Cost of products and licenses   23.0     19.9
    Cost of security subscriptions   21.4     16.5
    Total cost of products and security subscriptions   44.4     36.4
    Cost of Software updates and maintenance   32.1     28.7
    Amortization of technology   7.6     5.8
    Total cost of revenues   84.1     70.9
           
    Research and development   102.1     99.2
    Selling and marketing   225.4     206.2
    General and administrative   30.7     28.6
    Total operating expenses   442.3     404.9
           
    Operating income   195.5     193.9
    Financial income, net   27.3     22.6
    Income before taxes on income   222.8     216.5
    Taxes on income   31.9     32.6
    Net income $ 190.9   $ 183.9
    Basic earnings per share $ 1.77   $ 1.64
    Number of shares used in computing basic earnings per share   107.9     112.3
    Diluted earnings per share $ 1.71   $ 1.60
    Number of shares used in computing diluted earnings per share   111.4     115.2
    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    SELECTED FINANCIAL METRICS
     
    (Unaudited, in millions, except per share amounts)
     
        Three Months Ended
        March 31,
        2025   2024
             
    Revenues   $ 637.8   $ 598.8
    Non-GAAP operating income     258.6     252.0
    Non-GAAP net income     246.2     234.5
    Non-GAAP diluted earnings per share   $ 2.21   $ 2.04
    Number of shares used in computing diluted Non-GAAP earnings per share     111.4     115.2
    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION
     
    (Unaudited, in millions, except per share amounts)
     
        Three Months Ended
        March 31,
          2025       2024  
             
    GAAP operating income   $ 195.5     $ 193.9  
    Stock-based compensation (1)     41.2       41.6  
    Amortization of intangible assets and acquisition related expenses (2) (*)     21.9       16.5  
    Non-GAAP operating income   $ 258.6     $ 252.0  
             
    GAAP net income   $ 190.9     $ 183.9  
    Stock-based compensation (1)     41.2       41.6  
    Amortization of intangible assets and acquisition related expenses (2) (*)     21.9       16.5  
    Taxes on the above items (3)     (7.8 )     (7.5 )
    Non-GAAP net income   $ 246.2     $ 234.5  
             
    GAAP diluted earnings per share   $ 1.71     $ 1.60  
    Stock-based compensation (1)     0.37       0.36  
    Amortization of intangible assets and acquisition related expenses (2) (*)     0.2       0.15  
    Taxes on the above items (3)     (0.07 )     (0.07 )
    Non-GAAP diluted earnings per share   $ 2.21     $ 2.04  
             
    Number of shares used in computing diluted Non-GAAP earnings per share     111.4       115.2  
             
    (1) Stock-based compensation:        
    Cost of products and licenses   $ 0.1     $ 0.1  
    Cost of software updates and maintenance     2.1       2.2  
    Research and development     14.7       14.7  
    Selling and marketing     14.6       15.9  
    General and administrative     9.7       8.7  
          41.2       41.6  
             
    (2) Amortization of intangible assets and acquisition related expenses (*):        
    Amortization of technology-cost of revenues     7.6       5.8  
    Research and development     1.5       1.6  
    Selling and marketing     12.8       9.1  
          21.9       16.5  

    (3) Taxes on the above items

    		     (7.8 )     (7.5 )
    Total, net   $ 55.3     $ 50.6  
     

    (*) While amortization of acquired intangible assets is excluded from the measures, the revenue of the acquired companies is reflected in the measures and the acquired assets contribute to revenue generation.

    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    CONDENSED CONSOLIDATED BALANCE SHEET DATA

    (In millions)

    ASSETS
     
          March 31,   December 31,
          2025
    (Unaudited)    		   2024
    (Audited)
    Current assets:          
    Cash and cash equivalents     $ 450.2   $ 506.2
    Marketable securities and short-term deposits       1,012.0     865.7
    Trade receivables, net       399.7     728.8
    Prepaid expenses and other current assets       94.5     92.7
    Total current assets       1,956.4     2,193.4
               
    Long-term assets:          
    Marketable securities       1,469.8     1,411.9
    Property and equipment, net       83.0     80.8
    Deferred tax asset, net       80.6     74.7
    Goodwill and other intangible assets, net       1,877.9     1,897.1
    Other assets       90.2     96.6
    Total long-term assets       3,601.5     3,561.1
               
    Total assets     $ 5,557.9   $ 5,754.5
    LIABILITIES AND SHAREHOLDERS’ EQUITY
     
    Current liabilities:          
    Deferred revenues     $ 1,389.8     $ 1,471.3  
    Trade payables and other accrued liabilities       394.8       472.9  
    Total current liabilities       1,784.6       1,944.2  
               
    Long-term liabilities:          
    Long-term deferred revenues       525.6       529.0  
    Income tax accrual       467.4       459.6  
    Other long-term liabilities       31.8       32.3  
    Total long-term liabilities       1,024.8       1,020.9  
               
    Total liabilities       2,809.4       2,965.1  
               
    Shareholders’ equity:          
    Share capital       0.8       0.8  
    Additional paid-in capital       3,125.5       3,049.5  
    Treasury shares at cost       (14,579.6 )     (14,264.4 )
    Accumulated other comprehensive gain       (2.9 )     (10.3 )
    Retained earnings       14,204.7       14,013.8  
    Total shareholders’ equity       2,748.5       2,789.4  
    Total liabilities and shareholders’ equity     $ 5,557.9     $ 5,754.5  
    Total cash and cash equivalents, marketable securities, and short-term deposits     $ 2,932.0     $ 2,783.8  
    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    SELECTED CONSOLIDATED CASH FLOW DATA
     
    (Unaudited, in millions)
     
      Three Months Ended
      March 31,
        2025       2024  
    Cash flow from operating activities:      
    Net income $ 190.9     $ 183.9  
    Adjustments to reconcile net income to net cash provided by operating activities:      
    Depreciation of property and equipment   5.2       7.3  
    Amortization of intangible assets   19.2       13.5  
    Stock-based compensation   41.2       41.6  
    Realized loss on marketable securities   0.1       –  
    Decrease in trade and other receivables, net   329.4       265.4  
    Decrease in deferred revenues, trade payables and other accrued liabilities   (142.1 )     (140.6 )
    Deferred income taxes, net   (22.8 )     (10.1 )
    Net cash provided by operating activities   421.1       361.0  
           
    Cash flow from investing activities:      
    Investment in property and equipment   (7.4 )     (6.5 )
    Net cash used in investing activities   (7.4 )     (6.5 )
           
    Cash flow from financing activities:      
    Proceeds from issuance of shares upon exercise of options   46.0       45.6  
    Purchase of treasury shares   (325.0 )     (325.0 )
    Payments related to shares withheld for taxes   (1.5 )     (1.1 )
    Net cash used in financing activities   (280.5 )     (280.5 )
           
    Unrealized gain on marketable securities, net   15.0       1.6  
           
    Increase in cash and cash equivalents, marketable securities, and short-term deposits   148.2       75.6  
           
    Cash and cash equivalents, marketable securities, and short-term deposits at the beginning of the period   2,783.8       2,959.7  
           
    Cash and cash equivalents, marketable securities, and short-term deposits at the end of the period $ 2,932.0     $ 3,035.3  

    The MIL Network –

  • MIL-OSI Europe: A “Need for Chaos” Powers Some Americans’ Support for Elon Musk

    Source: Universities – Science Po in English

    Who are the Americans that want to tear down social institutions?  Answers by Kevin Arceneaux, Director of Sciences Po’s Centre for Political Research (CEVIPOF) and Dannagal G. Young, Professor at the University of Delaware. An article initially published by our partner The Conversation.

    A video of a Las Vegas Tesla dealership that had been set on fire by anti-Elon Musk protesters was posted on March 18, 2025, by an account on X called EndWokeness.

    The next day Musk replied to the post, “Some people just want to watch the world burn,” an iconic line from the 2008 Batman film “The Dark Knight.” Alfred, the Wayne family’s faithful butler, says the line to Bruce Wayne – Batman – to describe the motivations behind the Joker’s chaotic acts of violence.

    Musk – and Alfred – was right. Some people do, in fact, say they think that society should be burned to the ground. It’s part of a psychological measure political psychologists created called “need for chaos.”

    New data from the Center for Political Communication at the University of Delaware suggests that those people – the ones who want society to burn – are the ones with more, not less, trust in Musk. They also report more trust in the Department of Government Efficiency, the government entity Musk advises, which the Trump administration claims it created to cut government waste and fraud.

    Yet, critics point out that Musk and DOGE’s seemingly indiscriminate approach to spending cuts risks damaging the infrastructure necessary for American innovation.

    This desire to watch the world burn doesn’t come out of nowhere.

    Fear of losing status

    Somewhat like the Joker, whose perpetual sense of victimhood – “You wanna know how I got these scars?” – drove his need for chaos and destruction, people can develop a need for chaos in response to a sense that they are losing.

    When political psychologists introduced this concept of “need for chaos” in 2021, they described it not as a psychological trait, but as a character adaptation that occurs when some people experience a cultural and political situation that makes them feel like they are losing status and power. For some people, this feeling triggers a desire to “burn it all down” – “it” being society, institutions, the world – maybe to rebuild it all anew, or maybe just to see it all destroyed.

    Only a small percentage of the U.S. population – less than 15% – tends to score high in need for chaos. But even so, understanding this minority is important to gaining insight into this political moment.

    For example, people who score high in need for chaos exhibit greater support for political violence and a willingness to knowingly share hostile and false information online. And in our data, those higher in need for chaos report holding more trust in Musk, DOGE and Trump than people who score lower in the need for chaos measure.

    Who wants to burn it down

    We are political psychologists who study the link between psychological traits and political beliefs. Last month, the University of Delaware’s Center for Political Communication ran a national survey that we designed to understand where the public stands on various political issues and how those beliefs relate to psychological traits, including need for chaos.

    In our national study of 1,600 Americans conducted between Feb. 27-March 5, 2025, by YouGov, we asked respondents how much they agreed or disagreed with the following statements:

    • “I fantasize about a natural disaster wiping out most of humanity such that a small group of people can start all over”

    • “I think society should be burned to the ground”

    • “We cannot fix the problems in our social institutions; we need to tear them down and start over”

    • “I need chaos around me – it is too boring if nothing is going on”

    Similar to prior work by author Kevin Arceneaux and his colleagues, our data shows that a very small number – fewer than 20% of the sample – agrees strongly or agrees somewhat with each item.

    However, looking at need for chaos among groups of varying ages, education levels and media habits, we find the highest need for chaos scores among people under age 40, those with less education, and those who pay the least attention to politics.

    Musk fans more inclined to ‘tear down’ social institutions

    A nationally representative survey of 1,600 Americans taken between Feb. 27 and March 5, 2025, found that 18.2% of all Americans “strongly agreed” or “somewhat agreed” with the statement: “We cannot fix the problems in our social institutions; we need to tear them down and start over.” People who expressed “a lot” or “a great deal” of trust in presidential adviser and billionaire Elon Musk were more inclined to agree than the average American. People with lower levels of trust in Musk, or none at all, were less likely to agree with the desire to tear things down and start again.

    The results have a margin of error of +/-2.5 percentage points. (credits: Chart: The Conversation, CC-BY-NDSource: University of Delaware Center for Political Communication)

    Burning it down through government policy

    Our new data also shows that while people highest in need for chaos report having more trust in Musk, DOGE, and President Trump, these chaos-seeking folks report having less trust in “people in general,” journalists or the federal government. These findings hold even when statistically accounting for other factors, among them party, race, gender, education and ideology.

    Musk’s penchant for wielding chainsaws as a symbol of DOGE’s work provides some insight into why chaos seekers may like what they see in Musk.

    It’s not clear exactly what Musk’s aim is with his work at DOGE, as he eliminates the jobs of hundreds of thousands of government workers.

    What is clear, however, is that by many accounts, the mass firings and the gutting of agencies, like the U.S. Agency for International Development and the Institute for Peace, are sowing chaos. And a significant portion of Americans want just that.

    Cover image caption: There’s a sizable group of Americans who agree with the phrase “I think society should be burned to the ground.” (credits: Anton Petrus-Moment/Getty Images)

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Sheffield payroll director banned after company went into liquidation with £2.5 million VAT bill

    Source: United Kingdom – Executive Government & Departments

    Press release

    Sheffield payroll director banned after company went into liquidation with £2.5 million VAT bill

    The company substantially under-declared the amount of tax it had to pay in 2020 and 2021

    • Hubert Omukhulu failed to declare the correct amount of VAT his Remedy Payroll Solutions Ltd company was required to pay  

    • VAT returns submitted by the company in a 15-month period between June 2020 and September 2021 suggested it had little more than £250,000 to pay 

    • In reality, the company owed more than £2.5 million in tax

    The boss of an umbrella company which failed to pay more than £2.5 million in VAT has been banned as a director. 

    Hubert Omukhulu, 36, failed to accurately declare the amount of VAT Remedy Payroll Solutions Ltd had to pay in 2020 and 2021. 

    The inaccurate returns Remedy Payroll Solutions submitted suggested the company had no VAT to pay in 2020 and just over a quarter of a million pounds in 2021. 

    However, this was an under-declaration of more than £2 million according to calculations from HM Revenue and Customs (HMRC). 

    Omukhulu, of Nethershire Lane, Sheffield, has now been disqualified as a company director for eight years.

    Kevin Read, Chief Investigator at the Insolvency Service, said:

    Hubert Omukhulu allowed his payroll supply company to substantially under-declare the amount of VAT it owed in 2020 and 2021. 

    More than £2 million in VAT was not paid by the company. This money should have gone towards funding vital public services such as the NHS, schools and our nation’s defence. 

    Omukhulu’s conduct falls well below the standards the Insolvency Service expects which is why he has been banned as a company director until 2033.

    Debbie Porter, Assistant Director of Fraud Investigation Service at HMRC, said:

    We are determined to create a level playing field that allows honest businesses to thrive which is why it’s crucial we work closely with the Insolvency Service and other partners to act against rogue directors.  

    The majority pay the tax that is due, but we will pursue those who refuse to play by the rules.

    Remedy Payroll Solutions was established in May 2020 with Omukhulu as its sole director.  

    The company initially had its registered office as Omukhulu’s home address in Sheffield before switching it on several occasions between addresses in Romford and Hainault. 

    Remedy Payroll Solutions submitted three VAT returns in 2020 claiming it had no tax to pay in that year. 

    The company submitted another three returns in 2021, claiming it had a combined £264,276 to pay in VAT. 

    HMRC investigated Remedy Payroll Solutions’ bank accounts and contacted its customers. Through their investigations, they calculated that £2,584,044 was owed by the company in VAT. 

    Remedy Payroll Solutions went into liquidation in July 2022. 

    Omukhulu claimed there was third-party involvement in the running of Remedy Payroll Solutions but failed to provide any evidence of this when asked by the Insolvency Service. 

    The Secretary of State for Business and Trade accepted a disqualification undertaking from Omukhulu and his ban started on Thursday 17 April.  

    The undertaking prevents him from being involved in the promotion, formation or management of a company, without the permission of the court.

    Further information

    Updates to this page

    Published 23 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Global: New survey shows the extent of class privilege in UK journalism

    Source: The Conversation – UK – By Imke Henkel, Lecturer in Journalism and Media, University of Leeds

    UK journalism has a class problem. This statement will not surprise most people familiar with UK newsrooms. What is astonishing, though, is the scarcity of empirical data that could help us better understand the extent to which class inequality affects journalists and their work.

    For the first time, research by my colleagues and me an for the report UK Journalists in the 2020s uses a representative sample of UK journalists to measure their socioeconomic background. The vast majority of our respondents came from a privileged background, measured by their schooling and by the job held by their main household earner when they were a child.

    Previous research on this issue was based on considerably more limited data. In July 2009, a report commissioned by the then Labour government found that journalism was one of two professions that had experienced the biggest decline in social mobility (the other being accountancy).

    Research by the Sutton Trust established repeatedly (most recently in 2019), that leading news editors, broadcasters and newspaper columnists are about six to seven times more likely to be privately educated than the general population, a typical marker for privilege in Britain.

    Some of the best data we have regarding UK journalists’ social class was collected by the National Council for the Training of Journalists, who since 2017 has regularly published reports on the diversity among UK journalists.

    However, as the report’s author Mark Spilsbury concedes, the findings have a considerable margin of error. The report uses data from the UK Government Labour Force Survey, and only extrapolates its figures for the small fraction of journalists within that workforce.

    Our report, for the Reuters Institute for the Study of Journalism at the University of Oxford, draws on a survey that media researchers Neil Thurman, Sina Thäsler-Kordonouri and I conducted between September 27 and November 30 2023.

    We used data from the 2021 Census for England, Wales, and Northern Ireland and from the Roxhill Media database to estimate the total number of UK journalists to be 68,279. Given how notoriously reluctant journalists are to respond to surveys, already swamped as they are with similar requests, we sent our questionnaire to 16,497 randomly selected participants.

    We considered journalists to be those who worked for a media outlet with an identifiable focus on news, and who earned at least 50% of their income from journalism or worked at least 50% of their working week as a journalist. To be included in our survey, respondents also needed to work for a news outlet with a UK base and that was aimed, at least in part, at a UK audience.

    After data cleaning, we retained a final sample of 1,130 respondents, a sufficient size to achieve a confidence level of at least 95% and a maximum error margin of 3%.

    Our survey is part of the international Worlds of Journalism Study, which uses the same core questionnaire across 75 countries. The survey covers a wide range of topics, including journalists’ demographics, working conditions and their experience of safety and wellbeing.

    For the UK study, we added two questions regarding journalists’ socioeconomic background. First, we asked what job the main earner in their households held when the respondents were 14 years old. Second, we asked about the school journalists attended: fee-paying private or state primary and secondary school, non-fee-paying selective secondary school (such as grammar school) or a school not in the UK.

    Want more politics coverage from academic experts? Every week, we bring you informed analysis of developments in government and fact check the claims being made.

    Sign up for our weekly politics newsletter, delivered every Friday.

    The question on parents’ occupation allowed respondents to write in the title of the relevant job. We coded the replies manually using the nine categories of the Office for National Statistics’ 2020 Standard Occupational Classification.

    Seventy-one percent of journalists in our sample came from a privileged background, with the main earner in their childhood household holding a job within the three top categories of the classification. Only 12% of our respondents came from a working-class background (sales and customer service occupations; process, plant and machine operatives and elementary occupations).



    Read more:
    Know your place: what happened to class in British politics – a podcast series from The Conversation Documentaries

    We lack the data for an outright comparison with the general population. But the 2021 census gives an indication. It shows that 23.3% of the main earner in all households in England and Wales held a job in the highest AB social grade, about equivalent to the top three categories in our classification. Nearly double (43.9%) fell into the social grade C2 and DE, roughly equivalent with our bottom three categories.

    Journalists’ privilege also shows in their schooling. Twenty-two percent of journalists in our sample attended a fee-paying secondary, and 13% attended a fee-paying primary school. Around 6% of the general pupil population in England attends private schools, and fewer in Scotland, Wales and Northern Ireland.

    Does privilege matter?

    Our data does not suggest that a privileged upbringing makes it more likely for journalists to hold a top management position. Where it does make a difference, though, is whether they work for national media or outlets with international presence (like the Guardian or the Financial Times). Of those who do only 9% come from a working-class background, while 72% come from a privileged one (the rest come from the middle groups in our classification).

    In contrast, 20% of journalists working for local and regional outlets (including regional arms of national outlets, such as BBC Wales) have a working-class background, and 57% grew up in a more privileged household.

    Our survey also shows other areas of inequality. An interesting one is age. Both women and journalists from an ethnic minority background seem to drop out of the profession after the age of 50. Journalists with an Asian or Black background in particular remain underrepresented compared to the overall population, as they were in 2015.

    Female journalists are also still less well paid, less likely to have a permanent contract or to hold a top management role than their male colleagues. They also more often report feeling stressed out. Their disadvantage against their male colleagues may well be a reason.

    New survey data shows that of those who work for national media, 72% are from a privileged background.
    Zeynep Demir Aslim/Shutterstock

    One reason for the privileged background of so many journalists will be that journalism has become a thoroughly academic profession. Nine out of ten journalists in our sample were university educated.

    In an increasingly complex world, there may be good reasons for those who report on it to undergo an academic training. However, as some scholars have argued, trust in journalism not only depends on accurate and reliable reporting, but also on emotional and social factors that are essential for the relationship between journalists and audiences.

    Given the lack of trust in news and rising news avoidance among UK audiences, the inequalities our report found should be of concern. If journalists are found to belong to a privileged elite they are less likely to be trusted by the general public. Reliable data on the inequalities that shape the journalism profession is a necessary start to tackle this problem.

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

    – ref. New survey shows the extent of class privilege in UK journalism – https://theconversation.com/new-survey-shows-the-extent-of-class-privilege-in-uk-journalism-254838

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Greens lodge plans to tackle holiday home growth where housing costs are highest

    Source: Scottish Greens

    23 Apr 2025 Finance

    Homes are for living in and not for profiteering.

    More in Finance

    The Scottish Greens are lodging plans to tackle the housing crisis in the areas where it is worst by cracking down on the spread of holiday homes.

    At present, someone buying a second or holiday home anywhere in Scotland must pay a tax known as the Additional Dwelling Supplement. 

    New proposals, lodged by Ross Greer MSP as an amendment to the upcoming Housing Bill, would create a further charge on top of this in areas where rent control measures are introduced.

    In some communities such as Lochranza on the Isles of Arran over a third of houses are holiday homes. This trend pushes up housing costs and often forces young people to move out of their own communities in search of an affordable place to live.

    Since the last election the Scottish Greens have doubled the Additional Dwelling Supplement (ADS) from 4% to 8% and given councils the power to double Council Tax on holiday homes. 

    The reforms have had the desired effect on house purchases, with 2455 fewer second homes bought last year than in 2023, the largest decrease in a decade. ADS will also raise more than a quarter of a billion pounds for public services in the current financial year. 

    Greer’s amendments would allow for further targeted efforts to reduce holiday home ownership in areas where the housing crisis is particularly acute by increasing the Additional Dwelling Supplement in rent control zones. At present, this tax can only be increased or decreased nationwide, with targeted changes not possible.

    Ross Greer said:

    “Many of the areas where rent is highest are the same ones being filled up with far too many holiday homes. This reduces the number of houses available for people to actually live in and pushes up prices for both renters and first-time buyers.

    “Everyone should be able to access a good quality, affordable home. Yet, all across Scotland people are being priced out of the communities they grew up in by holiday homes and buy-to-let landlords.

    “This simple proposal will help people trying to find a home in areas where the housing crisis is at its worst. The money raised will come from those who are already wealthy enough to buy extra properties, something totally outwith the reach of most people.

    “The housing market is broken. Far too many properties are being used as cash cows for short-term lets and holiday homes, and it is renters who are paying the price. We badly need to shift the balance and free up more homes for those who really need them.”

    Mr Greer added:

    “The changes already delivered by Green MSPs have reduced the number of second and holiday homes bought each year, freeing up more properties for people who need a home to live in and raising millions of pounds for vital services like schools and hospitals.

    “We need to build on this success and ensure that the communities where rent is highest are the ones where people are supported the most.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Reeves: I will always act to defend British interests

    Source: United Kingdom – Executive Government & Departments

    Press release

    Reeves: I will always act to defend British interests

    Chancellor Rachel Reeves travels to Washington DC for her first spring meetings of the International Monetary Fund (IMF).

    The Chancellor has pledged to “stand up for Britain’s national interest”, as she heads to Washington DC for her first spring meetings of the International Monetary Fund (IMF).

    During a three-day visit to the United States, Rachel Reeves is set to hold meetings with G7, G20 and IMF counterparts about the changing global economy. She will make the case for open trade that provides stability for businesses and security for working people. The Chancellor will underline the importance of tackling barriers to trade to kickstart economic growth, supporting businesses and putting more money in working people’s pockets.

    Earlier this month the Chancellor announced over £400 million of trade and investment deals with the Indian Government across a range of business sectors, including defence, financial services, education, and development. In recent weeks the government has acted to save British Steel, safeguarding the future of steelmaking in the UK and protecting 2,700 jobs in Scunthorpe and up to 37,000 jobs in the wider supply chain, announced a £20 billion boost to UK Export Finance which will give thousands of British access to government-backed financing and announced new measures to give British car makers certainty and stability, and to support them on the transition to electric vehicles. Earlier this month over 3 million workers in shops, restaurants and workplaces across the UK received a pay boost worth £1,400 a year for an eligible full-time worker, while also rolling out free breakfast clubs in primary schools putting £450 a year in the pockets of working parents and protecting the payslips of working people from higher taxes.

    She will hold discussions with finance ministers about the opportunities to strengthen economic ties with Britain, including members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Talks with European finance ministers will also focus on going further and faster to increase defence spending and improve cooperation in response to continued Russian aggression and the invasion of Ukraine.

    Reeves will hold her first in person meeting with her US counterpart Treasury Secretary Scott Bessent about working together to deepen the UK-US economic partnership through a new trade agreement.

    In Washington, the Chancellor will also meet with business leaders to talk about the government’s Plan for Change to kickstart economic growth. She will champion Britain as the best place to live, work and grow a business, highlighting the government’s ambition to go further and faster to tackle the barriers to investment. By backing the builders not the blockers, through reforms to the National Planning Policy Framework – which alone is expected to deliver an extra 170,000 homes by 2029/30, as well upcoming the Planning and Infrastructure Bill and a government pledge to cut the administrative cost of regulation on business by a quarter, making Britain the best place to do business and drive economic growth.

    Speaking ahead of her visit, Chancellor of the Exchequer Rachel Reeves said:

    The world has changed, and we are in a new era of global trade. I am in no doubt that the imposition of tariffs will have a profound impact on the global economy and the economy at home.

    This changing world is unsettling for families who are worried about the cost of living and businesses concerned about what tariffs will means for them. But our task as a government is not to be knocked off course or to take rash action which risks undermining people’s security.

    Instead, we must rise to meet the moment and I will always act to defend British interests as part of our Plan for Change. We need a world economy that provides stability and fairness for businesses wanting to invest and trade, more trade and global partnerships between nations with shared interests, and security for working people who want to get on with their lives.

    Updates to this page

    Published 23 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI: MEXC Exchange Report Shows Airdrops Resulting in Up to 35% New User Registrations

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, April 23, 2025 (GLOBE NEWSWIRE) — A report released by MEXC, a leading global crypto exchange, indicates that airdrop campaigns account for approximately one-third of new user registrations during peak months. The numbers showcase the effectiveness of airdrops as a marketing instrument that crypto projects can leverage to attract new audiences and bootstrap engagement. The report also highlights the importance of ongoing structural shifts taking place in the industry across regions, as well as user motivation swings.

    Key Takeaways:

    • Peak user acquisition rates driven by airdrops reach up to 35% in certain months.
    • User behavior is influencing airdrop campaign participation through deeper mobile penetration and the involvement of gamification mechanisms.
    • 76% of users who sign up via airdrop campaigns remain on the platform, with 18% becoming active traders and 58% trading occasionally.
    • The CIS region leads in terms of involvement at 67%, followed by Southeast Asia at 51%, and South Asia at 32%.
    • Airdrops are evolving into a means of financial inclusion, in addition to acting as an effective marketing instrument.

    MEXC analyzed user behavior during airdrop campaigns and identified a significant shift in the audience. While regions with low levels of access to banking services previously served as the main source of airdrop participants, the latest report indicates that new channels of user onboarding are ousting the trend. Gamification and Tap-to-Earn games in mobile-based Telegram channels are taking center stage as key registration sources for users with no previous experience in crypto. For instance, games like Hamster Kombat attracted over 70 million users, other notable examples of similar grade being Notcoin and Yescoin.

    According to the data compiled as a result of the research, users who received their first airdrop tokens demonstrated varying degrees of continued involvement in the crypto industry. As many as 18% maintained active trading patterns and delved deeper into crypto services, 58% traded occasionally, while 24% were one-off users, withdrawing their funds without further engagement in trading. The users who evolve into active traders showcase an average daily trading volume above $58,000, with select ones achieving $31 million.

    Regional segmentation of the users attracted via airdrops shows that the CIS is in a leading position, with 67% of the total, followed by Southeast Asia at 51%, and South Asia with 32%. The results of the analysis correlate with low levels of access to banking services in the given regions. They also align with data provided by Chainalysis, which positioned India, Vietnam, and the Philippines as the countries in Asia with the highest rates of crypto adoption, driven by low levels of banking services access and rapid spread of internet coverage in rural areas.

    The limited financial inclusion of the countries in the indicated regions into the international banking system paves the way for cryptocurrencies to act as alternative means of payment both abroad and within domestic economies. Users participating in airdrops either withdraw them to fiat or use them for their needs. Pakistan and the Philippines are leading in this regard.

    The report released by MEXC highlights the prominent role airdrops are occupying in the evolving crypto landscape, transforming from a marketing action into a separate instrument for user engagement. The ability to attract 35% new user registrations via airdrops in select regions like the CIS and Asia is a powerful factor acting in favor of using the given approach to expanding the crypto industry and advancing its maturity.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

    For more information, visit: MEXC Official Website | X | Telegram | How to Sign Up on MEXC
    For media inquiries, please contact MEXC PR Manager Lucia Hu: lucia.hu@mexc.com

    Source

    Disclaimer: This press release is provided by the MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.

    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.

    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/39d569ad-f949-4d60-af4a-a3cdf668d85d

    The MIL Network –

  • MIL-OSI Russia: From producing to dancing: young people are invited to a summer camp at the Moskino cinema park

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The Moscow Youth creative camp is now open for applications. The shifts will be held from June 9 to July 19 at the Moskino cinema park. They will be dedicated to vocal, musical and dance art, cinematography and other areas.

    “In the summer camp, children will be able to find new friends and develop their talents. Participants will meet with experts and take part in practical classes, castings and concerts,” said

    Natalia Sergunina, Deputy Mayor of Moscow.

    A total of six shifts are planned. The first will be held from June 9 to 14 for budding acrobats, circus performers, gymnasts and cheerleaders. Young Muscovites will demonstrate their stage skills and perform spectacular numbers.

    From June 16 to 21, the summer camp is waiting for those who want to make a name for themselves in the film and event industry. The guys will attend thematic castings and trainings, learn how to create and produce films, and also promote their projects.

    From June 23 to 28, dance lovers are invited, and from June 30 to July 5, a KVN school will open, where Muscovites will be taught to improvise and work in a team.

    The next shift will be organized from July 7 to 12 for young vocalists and musicians. Their mentors will be famous performers and composers.

    The program will end with a large-scale festival, which will take place from July 14 to 19. Its main event will be a gala concert, where you can see the best numbers of graduates.

    Citizens aged 18 to 35 can get into the creative camp on a competitive basis. To participate, you must submit an application by linkThe selection will be carried out by specialists from different fields.

    Besides, now recruitment is underway to the patriotic camp “Youth of Moscow. Capital. Summer”. From June 28 to August 4, the project’s shifts will unite athletes, representatives of student government and volunteers.

    Get the latest news quickly official telegram channel the city of Moscow.

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/153008073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Filmmakers’ Forum and Actors’ Master Classes: How the Weekend Went at the Moskino Cinema Park

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Last weekend, April 19 and 20, the Moskino Cinema Park hosted a filmmakers’ forum dedicated to the use of modern technologies in film production. Industry experts spoke at the forum. In addition, it was possible to take part in acting master classes and the quest “Film! Film! Film!”, as well as see the one-man show “Dog”.

    Lectures, master classes and creative evenings

    The first lecture was given by Broadcast’s Product Director Leonid Novoselov. He spoke about real-time filming technology, 3D graphics and innovative programs for implementing creative ideas. The lecture helped students of specialized universities learn a lot of new things.

    The master class by Natalia Klibanova, chief producer of the film company Amedia Production, was devoted to the topic of complex staging of filming. She worked on such projects as The Master and Margarita, Palma-2 and Psychologists. She shared stories from her own professional experience with the student filmmakers.

    “It is very nice that there are people who come to my lectures at the cinema park more than once. In general, the audience is very interested, these are either those who want to learn more about cinema or those who want to integrate into the industry. Actors who want to expand their professional opportunities often come to the lectures. And we always invite them to castings, tell them about projects. This certainly gives results. There are also those who want to reformat their activities, while remaining in cinema. For example, they were involved in advertising, but dream of moving towards TV series. We talk about the work of our company, about who we are looking for, offer internships for students. The most important thing is not to be afraid to participate in pitching, festivals, educational programs that the Moskino cinema park organizes. It is incredibly valuable that forums, lectures and master classes for aspiring filmmakers are held here,” said Natalia Klibanova.

    The artistic part of film production was the subject of a lecture by Alexandrina Trapeznikova, a teacher at the Institute of Cinema and Television (GITR). The production designer spoke about how the tools of professionals in this field have changed thanks to the advent of computer technology, as well as about drawing skills and new tasks. At a panel discussion, filmmakers Natalia Klibanova, Alexandra Trapeznikova and Leonid Novoselov discussed the latest trends in the industry, the future of cinematography and answered questions from the audience.

    The Gonzaga Theatre set hosted a creative evening with actor Lev Zulkarnaev, a participant in the projects “The Word of a Boy” and “Buratino”. The graduate of the Russian Institute of Theatre Arts – GITIS, spoke about the acting profession and interaction with the director. Many young fans gathered for his performance, took photos with the artist, asked questions and received autographs.

    “I think that such meetings are important, but only in combination with my own experience. Because in theory everything sounds one way, but in practice it is completely different. It is important that those who want to get into cinema definitely try, get their hand in, maybe make mistakes and learn from them. The Cinema Park is a professional space with good organization, where I felt very comfortable working. I starred here in the film “Buratino” on the “Provincial Towns of Europe” set, and I only have positive impressions. I have never seen such amazing scenery. I hope that I will definitely work on the Cinema Park sets again,” shared Lev Zulkarnayev.

    In addition, a master class and lecture on acting were held by the actor of the Stanislavsky Electrotheatre Nikita Makhalov and the director of the Theatre of Young Muscovites Andrey Zadubrovsky. Nikita Makhalov demonstrated professional techniques for conveying the emotional state of the hero. Andrey Zadubrovsky told the audience about the means of expressiveness of speech and plasticity, and also revealed the secret of how to play a role while remaining yourself.

    Performances, quests and film screenings

    At the Gonzaga Theatre, children and parents watched Alexey Poltavsky’s one-man show “Dog” based on the story of the same name by Georgian writer Nodar Dumbadze. The story about the struggle between good and evil, a teenager’s difficult choice and love for an abandoned animal evoked genuine feelings in the audience.

    The immersive quest “Film! Film! Film!” was held at the Uyezdny Gorod location. The participants had to go through the entire film production process – from creating a script to releasing the film, and they were helped in this by episodes played out by professional actors. In the process of creating a cinematic masterpiece, the participants were inspired by realistic decorations of suburban streets and buildings.

    Unforgettable impressions of the weekend were left by watching films for the whole family at the Moskino Kinopark cinema. Adventure lovers remembered the new Russian film Kraken. The film tells about the search for a missile submarine cruiser that disappeared during a secret mission in the Greenland Sea. In addition, viewers saw kind films about family, friendship and loyalty Batya-2. Ded and Palma-2. And the cartoon Jurassic Jungle was especially memorable for the young guests of the cinema park.

    Sobyanin told how virtual technologies simplify film shooting in MoscowThe 47th Moscow International Film Festival opened with the historical war drama “Not on the Lists”

    The Moskino cinema park is part of Sergei Sobyanin’s “Moscow – City of Cinema” project and an object of the Moscow cinema cluster, which is being developed by the capital Department of CultureThe first stage of development has already been completed here: 24 natural sites, four pavilions and six infrastructure facilities have been built, including the sets “Center of Moscow”, “Moscow in the 1940s”, “Vitebsk Station”, “Yurovo Airport”, “Cathedral Square of Moscow”, “Deaf Village”, “County Town”, “Cowboy Town”, “St. Petersburg Bar” and others.

    The Moscow Film Cluster is an infrastructure facility, services and facilities for filmmakers, which are being developed by the Moscow Government within the framework of the Moscow — City of Cinema project. Its structure includes the Moskino film park, the Gorky Film Studio (sites on Sergei Eisenstein Street and Valdaisky Proyezd), the Moskino film factory, the Moskino cinema chain, the film commission and the Moskino film platform.

    Get the latest news quickly in the official telegram channel the city of Moscow.

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/153022073/

    MIL OSI Russia News –

  • MIL-Evening Report: Flooding incidents in Ghana’s capital are on the rise. Researchers chase the cause

    Source: The Conversation (Au and NZ) – By Stephen Appiah Takyi, Senior Lecturer, Department of Planning, Kwame Nkrumah University of Science and Technology (KNUST)

    Urban flooding is a major problem in the global south. In west and central Africa, more than 4 million people were affected by flooding in 2024. In Ghana, cities suffer damage from flooding every year.

    Ghana’s president, John Dramani Mahama, has established a task force to find ways of improving flood resilience in the country. This is partly driven by an increase in flooding incidents in cities such as Accra and Kumasi in the last decade.

    We are urban planning and sustainability scholars. In a recent paper we analysed whether flooding in Accra, Ghana’s capital, was caused by climate change or poor land use planning.

    We conclude from our analysis that flooding is caused by poor and uncoordinated land use planning rather than climate change. We recommend that the physical planning department and other regulatory agencies are equipped to ensure the effective enforcement the relevant land use regulations.

    Mixed push factors

    The Accra metropolitan area is one of the 29 administrative units of Ghana’s Greater Accra region. It is the most populous region in Ghana, with over five million residents, according to the 2021 Housing and Population Census.

    We interviewed 100 households living in areas such as Kaneshie, Adabraka and Kwame Nkrumah Circle. These areas experience a high incidence of floods. Representatives of agencies such as the Physical Planning Department of the Accra Metropolitan Assembly, the National Disaster Management Organisation and the Environmental Protection Agency were interviewed too, about:

    • the nature and areas most prone to flooding in the study area

    • the frequency of flooding

    • land use planning and regulations and their influence on flooding.

    About 40% of the people we interviewed attributed flooding to both weak enforcement of land use regulation and changes in rainfall patterns. Most of the households (52%) said floods in Accra were the result of weak enforcement of land use regulations, while 8% blamed changes in land use regulations.

    We also analysed recorded data on flood incidence and rainfall. We found no correlation between increased rainfall and flooding. For example in 2017 there was a decrease in rainfall, but an increase in flooding.

    This finding points to the fact that rainfall isn’t the only factor contributing to flooding in the city.

    The agencies and city residents reported that between 2008 and 2018, they could see that more people were encroaching on the city’s wetlands by building homes and commercial infrastructure. This has changed the natural flow of water bodies. The Greater Accra Metropolitan and its environs has major wetlands such as Densu Delta, Sakumo Lagoon and Songor Lagoon.

    Interview respondents noted that the siting of unauthorised buildings and the encroachment on buffer zones of water bodies in the city could have been averted. They blamed political interference in the enforcement of land use regulation. The government makes the situation worse in two ways, they said:

    • planning standards and regulations are neglected in the development process. The processes involved in acquiring development permits are cumbersome and expensive, so people go ahead and develop without permits.

    • regulatory institutions and authorities are ineffective. This is clear from the fact that planning happens chaotically. No attention is given to the ecological infrastructure that’s needed.

    The way forward

    We conclude that land use malpractices remain the dominant causes of flooding in Accra. They include:

    • poor disposal of solid waste, which eventually blocks drains and results in water overflow during heavy rains

    • building on wetlands as a result of non-compliance or non-enforcement of land use regulations.

    There is an urgent need for Ghana’s cities to adopt best practices in waste management. These include recycling of plastic waste and composting for urban agriculture. An environmental excise tax was introduced in 2011 to fund plastic waste recycling and support waste management agencies.

    The increasing encroachment on wetlands should be addressed through the strict enforcement of buffer regulations. Planning authorities and the judiciary can collaborate on this. The city must also encourage green infrastructure, like rain gardens, green roofs, permeable pavement, street trees and rain harvesting systems.
    Research has shown these to be environmentally sustainable and cost-effective approaches to managing storm water.

    Another suggested approach is the introduction of the polluter pays principle in city management. This is a system where city residents who are involved in the pollution of the environment are made to pay for the cost of mitigating the impact. Residents who dispose of waste indiscriminately and encroach on wetlands would be made to pay for the cost of the environmental degradation. Cities such as Barcelona and Helsinki have applied this principle in the management of their industrial discharge and contaminated waste.

    Finally, there should be incentives for city residents to promote environmental sustainability. For example, a deposit refund system has been introduced in several states in the US and Australia. In this system, consumers are made to pay a deposit after purchasing items that can be recycled, such as plastic bottles, and the deposit is reimbursed to the consumer after the return of the empty bottles to a retail store.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Flooding incidents in Ghana’s capital are on the rise. Researchers chase the cause – https://theconversation.com/flooding-incidents-in-ghanas-capital-are-on-the-rise-researchers-chase-the-cause-254000

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: Aid to Gaza: E3 foreign ministers’ statement, 23 April 2025

    Source: United Kingdom – Government Statements

    Press release

    Aid to Gaza: E3 foreign ministers’ statement, 23 April 2025

    Joint statement on behalf of the Foreign Ministers of France, Germany and the UK on more than 50 days of Israel’s block on aid to Gaza

    Israel has now fully blocked the entry of humanitarian aid into Gaza for over fifty days. Essential supplies are either no longer available or quickly running out. Palestinian civilians – including one million children – face an acute risk of starvation, epidemic disease and death. This must end. We urge Israel to immediately re-start a rapid and unimpeded flow of humanitarian aid to Gaza in order to meet the needs of all civilians. During the last ceasefire, the UN and INGO system was able to deliver aid at scale. The Israeli decision to block aid from entering Gaza is intolerable. Minister Katz’s recent comments politicising humanitarian aid and Israeli plans to remain in Gaza after the war are unacceptable – they harm prospects for peace. Humanitarian aid must never be used as a political tool and Palestinian territory must not be reduced nor subjected to any demographic change. Israel is bound under international law to allow the unhindered passage of humanitarian aid.

    Humanitarians must be able to deliver aid to those who need it most, independent of parties to the conflict and in accordance with their humanitarian principles. Israel must ensure unhindered access for the UN and humanitarian organisations to operate safely across Gaza. Hamas must not divert aid for their own financial gain or use civilian infrastructure for military purposes.

    We reiterate our outrage at recent strikes by Israeli forces on humanitarian personnel, infrastructure, premises and healthcare facilities. Israel must do much more to protect the civilian population, infrastructure and humanitarian workers. This includes restoring deconfliction systems, allowing humanitarian workers free movement within Gaza. And Israel must prevent harm to medical personnel and premises in the course of their military operations. They must allow the urgent healthcare needs of the population to be met, while allowing the sick and wounded to temporarily leave the Gaza Strip to receive treatment.

    Crucially, we urge all parties to return to a ceasefire. We continue to call on Hamas for the immediate release of all the remaining hostages, who are enduring terrible suffering. We must all work towards the implementation of a two-state solution, which is the only way to bring long-lasting peace and security to both Israelis and Palestinians and ensure long-term stability in the region.

    Updates to this page

    Published 23 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: PM remarks at St George’s Day reception: 22 April 2025

    Source: United Kingdom – Executive Government & Departments

    Speech

    PM remarks at St George’s Day reception: 22 April 2025

    Prime Minister’s remarks from the St. George’s Day reception in Downing Street.

    Maro, it’s fantastic to see you up here and to hear you talk about the pride of pulling on an England jersey.

    I think it’s something we’ve dreamt of doing all our lives, though I only got to pulling on a replica.

    But it’s really important, that sense of pride that you described by the simple act of putting on a shirt, a sports shirt, and I think that pride and joy is hugely important.

    And as for your reminder of St George I’ve got a few ideas about what we could feed the dragon.

    But look it’s amazing just to look out and see so many people here, Tony Adams here in his red suit.

    He won’t remember this, but Vic and I drove along the Cotswolds years ago and he was out for a walk and I screeched to halt and insisted on shaking his hand, so it’s great to see you again.

    But it’s a really fantastic group of people and thank you so much for coming here to be in Downing Street with us.

    This is where I work and live just upstairs but it’s also your building and I’m really keen to get across this sense that this isn’t just a remote place where the government is, but that we are here to serve our communities and serve our country.

    So this is your place just as much as it is mine, it’s your right to be here and my privilege to invite you here as guests, so you are very welcome, to test and push us and to tell us what your ideas are and have the opportunity to put your fingerprints on everything we’re doing as a government.

    And of course – as a proud Englishman, this is a particularly special occasion: St. George’s Day. And it’s the eve of the day to revel in all the wonder and joy of our country.

    You see that reflected in this reception and I think it’s one of the biggest we’ve had here in Downing Street running all the way through to the rooms at the back with some fantastic people.

    We’ve got Pimms, we’ve got English sparkling wine and we’ve got our brilliant showcases with Melton Mowbray pork pies, Lancashire Eccles cakes, Bakewell tarts and gin from Exmoor distillery. We were going to have Morris Dancers too at one point, but we’re saving them for the next Cabinet away day instead.

    Because one of the great things about this country is we have so many wonderful traditions and so many individual, personal reasons that make us proud to be English.

    For me – it always starts with football of course. I was there at Wembley in Euro 1996. I was there at Wembley in 2021 and I was there also last year when we went to Germany, where we came so close again.

    But that still makes the nation proud. Though whatever it is, whether it’s football, festivals, cricket, Shakespeare – his birthday tomorrow of course, or our music – from Elgar to the Rolling Stones, our art – from Tracy Emin to Turner or our universities, inventions and innovations – the world’s first vaccine was an incredible moment, the world wide web, the computer and of course our landscape.

    Everyone in this room will have their favourite spots. Whether it’s rocky coves and beaches in Cornwall or the incomparable beauty of the Lake District.

    My late mum struggled to walk, so she decided to have all her holidays in the Lake District where the only thing you can do is walk, but that summed her up.

    And we still go there with our children now. But you also have the Chalk Hills of the North Downs where I grew up: this is a beautiful country, rich with pride, potential and creativity. 

    It’s also a country where a person like me who grew up working class and a person like the previous occupant, Rishi Sunak, an English Hindu, can both become Prime Minister of the United Kingdom. That for me is something I think we should always be proud of and never take for granted. 

    Because, while this is a day for celebration, we cannot be under any illusions that there is a never-ending fight for our flag and what it represents. I’ll put it this way, when I was standing in the old Wembley in 1996 – not many people sat down that day, it felt like that whole tournament embodied the best of our country.

    Yet now – there are people trying to sow division in our communities, people taking the red and white of our flag, like the bunting downstairs, with them, as they throw bricks at businesses… 

    The day after the terrible Southport incident last year, I went up to take the opportunity to shake the hands of the first respondents of police and ambulance workers, you’ll now have seen what they all faced.

    As I simply said thank you, almost all said to me they were just doing their job, but of course they weren’t, and it’s just incredible to think about what they were doing, and they were all back in work the next day to help clear up.

    By the time I got back to London that very day, we had people throwing bricks at the very same police officers I was shaking hands with.

    And that’s why the battle for our flag is really important because that is what happened and that was only last year. So, we have to fight for our flag and for our values.

    Because it was the aftermath of the riots that showed what it means to be English. It marked the coming together of a country.

    People who got together the morning after, all across Britain with shovels, brooms, and brushes, to clean up their communities. Rebuilding walls, repairing damage and it’s in that spirit that we reclaim our flag and that was incredibly uplifting to go from rioting to people coming out to do what they could for our country.

    So that’s what we must do for our country, for English decency, honour and fairness. Wrench it out of the hands of those who want to divide this nation and reclaim it for good.  

    Because that flag doesn’t belong to me as Prime Minister or any group or political party and that is the point.

    It belongs to all of us to England, in all its wonder and diversity. And we should be proud of that flag, we must never concede it, because it is an expression of our values and our patriotism.

    And patriotism – for me is about serving the country we love. That’s what drove me when I was Chief Prosecutor, serving people who’d faced appalling crimes and injustice. People like John and Penny Clough who are with us today – they lost their daughter in an appalling crime and came to see me many years ago in their journey for justice and have become friends of mine.

    And it’s what drives me today – when I say I want to make working people’s lives better.

    It’s at the heart of this Government, what’s written through our Plan for Change: putting money in people’s pockets; getting public services back on their feet so they serve the public in the way that people deserve; making our streets safer so we can all enjoy our communities; building the homes working people need, which are an aspiration and opportunity for so many; breaking down barriers to opportunity and honouring Britain’s veterans – by making sure there are “homes for heroes”.

    As we also protect our national security with the biggest defence investment since the end of the Cold War. 

    We know this won’t be easy and we’re living through a time of uncertainty which I’m sure everyone in this room can feel that over the past six months. Whether that’s through defence, national security or the global economy.

    But moments like this, as we come together to celebrate St. George’s Day are a reminder of all our nation has been through over generations and the values that have endured.

    The creativity, resilience and good will and humour that have remained a constant through the ages and will endure for generations to come.

    So, let’s be proud of our national identity, let’s pay tribute to all those who keep our country going from the generations who laid down their lives to keep us free, to those serving our country today. Our armed forces, our NHS staff, our teachers and the small businesses who serve their community. 

    Let’s remember our shared history, our shared inheritance and the values that have endured. And most of all, let’s hear it for England and for St. George! Thank you very much.

    Updates to this page

    Published 23 April 2025

    MIL OSI United Kingdom –

  • MIL-Evening Report: Australia needs bold ideas on defence. The Coalition’s increased spending plan falls disappointingly short

    Source: The Conversation (Au and NZ) – By Peter Layton, Visiting Fellow, Strategic Studies, Griffith University

    Just as voting has begun in this year’s federal election, the Coalition has released its long-awaited defence policy platform. The main focus, as expected, is a boost in defence spending to 3% of Australia’s GDP within the next decade.

    If elected, Opposition Leader Peter Dutton says a Coalition government will spend A$21 billion over the next five years to bring defence spending to 2.5% of GDP. It would aim to reach 3% five years after that.

    This sounds impressive, but as shadow Defence Minister Andrew Hastie notes, this isn’t a huge increase, given it’s over many years.

    In dry fiscal planning terms, Labor’s defence spending plan would amount to 2.23% of GDP in budget year 2028–29, while the Coalition’s plan would be expected to reach around 2.4% by that time.

    While the Coalition’s costings are yet to come, its plan is arguably affordable – if need be through deficit financing.

    What’s in the Coalition plan?

    The Coalition’s extra money would go to numerous capabilities:

    • purchasing 28 extra F-35 joint strike fighter jets from the United States

    • accelerating the infrastructure and shipyard building capacity in Western Australia (some in Hastie’s electorate) to support the AUKUS submarine plan

    • improving Australian Defence Force (ADF) recruitment and retention

    • and boosting “sustainment” (that is, maintenance of military equipment, weaponry and systems and personnel training).

    Hastie is particularly enthusiastic about improving the Australian defence industrial base, which he says involves ramping up purchases of defence equipment from small and medium-size enterprises.

    There is some logic to this. In the past few years, some spending on new acquisitions has been shifted to sustainment. This was necessary, as the long-term defence plan when Labor came to power in 2022 did not accurately estimate how much money would be needed for the new equipment then entering service.

    This is not unusual. There is always optimism within the Department of Defence that new equipment will be cheaper to operate than it actually turns out to be.

    Given significant money has already been moved to sustainment under Labor defence budgets over the past few years, it’s plausible we don’t actually need as much money for this as the Coalition asserts.

    This might be fortunate as the F-35 purchase is likely to be considerably more than the $3 billion the Coalition touted last month, given inflation and issues with the program in the US.

    Problems with the plan

    The biggest problem with Dutton’s plan is the same one faced by both the Morrison and Albanese governments. Strong rhetoric is consistently at odds with slow progress on defence force modernisation. The Coalition policy continues this bipartisan tradition.

    Hastie repeated several times at his news conference with Dutton in Perth that the country faces the “most dangerous strategic circumstances since the second world war”.

    Yet, this sense of urgency is not reflected in the extra $21 billion in spending the Coalition is proposing. The F-35 fighter jets, the major centrepiece of the plan, are unlikely to be in service until the first half of the 2030s.

    Similarly, the naval shipbuilding (which is necessary and already in train) also won’t begin to deliver greater capacity until well into the next decade.

    The only high-priority item outlined by the Coalition appears to be accelerating spending on the infrastructure needed to base US and UK nuclear attack submarines in Western Australia from 2027.

    Hastie said on Radio National Breakfast that a drive through the area where this infrastructure is being built would reveal few signs of any progress, particularly when it comes to housing.

    This comment highlights a policy incoherence problem for both parties. Accelerating the construction of defence infrastructure will drag tradies away from building homes for other Australians – and contribute to construction cost increases.

    The Coalition’s planned cuts in skilled worker migration will further exacerbate this problem.

    This throws up another issue. The Coalition has criticised Labor for cutting or delaying defence equipment projects costing some $80 billion while in government, yet it has offered no plans to return these specific projects to the defence budget.

    As Hastie observed, these cuts and delays were, in part, to land-force capabilities, such as the infantry fighting vehicle program. A shift to a more maritime focus and away from equipment better suited to wars in the Middle East is reasonable, given the stress both parties have placed on China’s naval buildup.

    Little to feel inspired about

    Interestingly, Hastie said on Radio National Breakfast that AUKUS is “a structural imposition” the current defence budget can’t meet.

    This suggests that when the AUKUS deal was agreed to under former Prime Minster Scott Morrison, there was inadequate funding for the program and it is now consuming other defence acquisition plans.

    Given this, the Coalition’s plans to grow defence spending to 3% of GDP in ten years may be prudent – and necessary – mainly to meet the looming AUKUS funding shortfalls. This again may be problem for both parties, given their strident support for AUKUS at seemingly any cost.

    Hastie is keen to increase Australian self-reliance, in part, through building up the Australian defence industry.

    However, the Coalition plan doesn’t offer many specifics on how Australian industry will benefit. Instead of buying yet more American-built F-35s, for instance, the Coalition could have given thought to buying the innovative Ghost Bat uncrewed air vehicles made in Queensland.

    This shortcoming highlights the biggest disappointment with the Coalition plan. It is “steady as she goes” approach in a world of increasing volatility.

    There really needs to be some fresh thinking on defence, particularly given the growing doubts about the Trump administration’s stance on its security alliances. Australia may need to be more self-reliant as Hastie claims, but this policy platform – as well as Labor’s – won’t achieve this possibility.

    The reason the Coalition is emphasising the 3% of GDP figure is that there are no new ideas. A great opportunity for an imaginative recasting of Australian defence has been missed.

    This piece is part of a series on the future of defence in Australia. Read the other stories here.

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

    – ref. Australia needs bold ideas on defence. The Coalition’s increased spending plan falls disappointingly short – https://theconversation.com/australia-needs-bold-ideas-on-defence-the-coalitions-increased-spending-plan-falls-disappointingly-short-255106

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: BE Semiconductor Industries N.V. Announces Q1-25 Results

    Source: GlobeNewswire (MIL-OSI)

    Q1-25 Revenue of € 144.1 Million and Net Income of € 31.5 Million
    Orders of € 131.9 Million Up 8.2% vs. Q4-24

    DUIVEN, The Netherlands, April 23, 2025 (GLOBE NEWSWIRE) — BE Semiconductor Industries N.V. (the “Company” or “Besi”) (Euronext Amsterdam: BESI; OTC markets: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the first quarter ended March 31, 2025.

    Key Highlights

    • Revenue of € 144.1 million, down 6.1% vs. Q4-24 due primarily to lower shipments for high-end mobile applications. Vs. Q1-24, down 1.5% due to lower shipments for mobile and automotive applications partially offset by strong growth in hybrid bonding and other AI related computing applications
    • Orders of € 131.9 million up 8.2% vs. Q4-24 primarily due to increased bookings by Asian subcontractors for AI related data center applications. Up 3.3% vs. Q1-24 due to higher bookings for hybrid bonding and other advanced computing applications  
    • Gross margin of 63.6% decreased by 0.4 points vs. Q4-24 and 3.6 points vs. Q1-24 due primarily to a less favorable product mix and, to a lesser extent, adverse net forex influences
    • Net income of € 31.5 million decreased 46.9% vs. Q4-24 primarily due to the absence of an € 18.2 million net tax benefit recognized in Q4-24, lower revenue and higher consulting costs. Down 7.4% vs. Q1-24 primarily due to lower revenue and gross margins partially offset by an 8.9% decrease in operating expenses. Similarly, Besi’s net margin declined to 21.9% vs. 38.6% in Q4-24 and 23.2% in Q1-24
    • Ex share-based incentive compensation and tax benefits, Besi’s adjusted net income (net margin) was € 35.9 million (24.9%) in Q1-25 vs. € 43.2 million (28.2%) in Q4-24 and € 49.5 million (33.8%) in Q1-24
    • Net cash of € 159.4 million increased € 15.6 million, or 10.8%, vs. Q4-24

    Outlook   

    • Revenue expected to be flat (plus or minus 10%) vs. € 144.1 million reported in Q1-25
    • Gross margin expected to range between 62-64% vs. 63.6% realized in Q1-25
    • Operating expenses expected to decrease 0-10% vs. € 52.5 million in Q1-25
    (€ millions, except EPS) Q1-2025 Q4-2024 Δ Q1-2024 Δ
    Revenue 144.1 153.4 -6.1% 146.3 -1.5%
    Orders 131.9 121.9 +8.2% 127.7 +3.3%
    Gross Margin 63.6% 64.0% -0.4 67.2% -3.6
    Operating Income 39.3 50.6 -22.3% 40.7 -3.4%
    EBITDA 46.6 58.0 -19.7% 47.5 -1.9%
    Net Income* 31.5 59.3 -46.9% 34.0 -7.4%
    Net Margin* 21.9 38.6% -16.7 23.2% -1.3
    EPS (basic) 0.40 0.75 -46.7% 0.44 -9.1%
    EPS (diluted) 0.40 0.74 -45.9% 0.44 -9.1%
    Net Cash and Deposits 159.4 143.8 +10.8% 180.9 -11.9%

    * Excluding share-based compensation expense and an € 18.2 million net tax benefit recognized in Q4-24, Besi’s adjusted net income (net margin) would have been € 35.9 million (24.9%), € 43.2 million (28.2%) and € 49.5 million (33.8%) in Q1-25, Q4-24 and Q1-24, respectively.

    Richard W. Blickman, President and Chief Executive Officer of Besi, commented:
    “Besi reported solid first quarter results and important new advanced packaging orders in a challenging market environment. Revenue of € 144.1 million was down 1.5% versus Q1-24 due to ongoing weakness in mobile and automotive end user markets partially offset by strong revenue growth from hybrid bonding and other AI related computing applications. In contrast, orders increased 3.3% versus Q1-24 and 8.2% versus Q4-24 due primarily to increased bookings by Asian subcontractors for AI related data center applications which more than offset weakness in mobile, automotive and Chinese end user markets.

    Of note, significant progress was made on Besi’s wafer level assembly agenda this quarter as we received hybrid bonding orders from two leading memory producers for HBM 4 applications as well as follow-on orders from a leading Asian foundry for logic applications. Further, important announcements were made by two leading semiconductor producers with respect to future hybrid bonding applications such as ASICs and co packaged optics. In addition, a leading US logic manufacturer successfully began production of AI related logic devices utilizing Besi’s hybrid bonders in integrated production lines.

    Besi’s profitability in Q1-25 remained at attractive levels despite ongoing weakness in mainstream assembly markets and expanded R&D investment in next generation assembly solutions for AI applications. Net income of € 31.5 million decreased 7.4% vs. Q1-24 primarily due to lower revenue and gross margins realized partially offset by an 8.9% decrease in operating expenses. Our gross margin has trended toward the lower end of our target range over the past three quarters due primarily to a less favorable product mix, particularly with respect to high-end smartphones, and net forex headwinds beginning in the second half of 2024 from adverse movements in some of our principal transaction currencies versus the euro. In addition, cash flow generation remains very positive with net cash at quarter end increasing 10.8% vs. Q4-24 to reach € 159.4 million.

    On April 14, Applied Materials announced a 9% ownership position in Besi. Besi and Applied Materials have been successfully collaborating since 2020 to co-develop the industry’s first fully integrated equipment solution for die-based hybrid bonding. The collaboration brings together Applied’s expertise in front-end wafer and chip processing with Besi’s leadership position in bonding accuracy and speed. We view their shareholding as a strategic, long-term investment and a further validation of our wafer level assembly technology and strategy.

    Our business development this year reflects the contrasting growth trends seen in the assembly equipment market between AI and mainstream applications. The timing and trajectory of a mainstream assembly upturn is more difficult to predict now given new tariff uncertainties. However, demand for advanced packaging for AI applications remains strong given upcoming new device introductions and use cases planned in the 2026-2028 time period. We continue to assess the potential impact of tariffs on Besi’s customers, supply chain and end user markets. For Q2-25, we forecast that revenue will be flat plus or minus 10% versus Q1-25 with gross margins in a range of 62%-64%. In addition, aggregate operating expenses are forecast to decrease 0-10% versus Q1-25 primarily due to a reduction in strategic consulting costs.”

    Share Repurchase Activity
    During the quarter, Besi repurchased approximately 187,000 of its ordinary shares at an average price of € 117.95 per share for a total of € 22.1 million. Cumulatively, as of March 31, 2025, a total of € 51.4 million has been purchased under the current € 100 million share repurchase plan at an average price of € 114.64 per share. As of March 31, 2025, Besi held approximately 2.0 million shares in treasury equal to 2.5% of its shares outstanding.

    Investor and media conference call
    A conference call and webcast for investors and media will be held today at 4:00 pm CET (10:00 am EDT). To register for the conference call and/or to access the audio webcast and webinar slides, please visit www.besi.com.
    Important Dates  
    •  Annual General Meeting of Shareholders April 23, 2025
    •  Investor Day/Amsterdam June 12, 2025
    •  Publication Q2/semi-annual results July 24, 2025
    •  Publication Q3/nine-month results October 23, 2025
    •  Publication Q4/full year results February 2026
       
    Dividend Information*  
    •  Proposed ex-dividend date April 25, 2025
    •  Proposed record date April 28, 2025
    •  Proposed payment of 2024 dividend Starting May 2, 2025
       

    * Subject to approval at Besi’s AGM on April 23, 2025

    Basis of Presentation
    The accompanying Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union. Reference is made to the Summary of Significant Accounting Policies to the Notes to the Consolidated Financial Statements as included in our 2024 Annual Report, which is available on www.besi.com.

    Contacts:
    Richard W. Blickman, President & CEO
    Andrea Kopp-Battaglia, Senior Vice President Finance      
    Claudia Vissers, Executive Secretary/IR coordinator
    Edmond Franco, VP Corporate Development/US IR coordinator
    Michael Sullivan, Investor Relations
    Tel. (31) 26 319 4500
    investor.relations@besi.com

    About Besi
    Besi is a leading manufacturer of assembly equipment supplying a broad portfolio of advanced packaging solutions to the semiconductor and electronics industries. We offer customers high levels of accuracy, reliability and throughput at a lower cost of ownership with a principal focus on wafer level and substrate assembly solutions. Customers are primarily leading semiconductor manufacturers, foundries, assembly subcontractors and electronics and industrial companies. Besi’s ordinary shares are listed on Euronext Amsterdam (symbol: BESI). Its Level 1 ADRs are listed on the OTC markets (symbol: BESIY) and its headquarters are located in Duiven, the Netherlands. For more information, please visit our website at www.besi.com.

    Caution Concerning Forward Looking Statements
    This press release contains statements about management’s future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including, but not limited to, statements relating to expectations of orders, net sales, product shipments, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”, “may”, “plan”, “predict”, “project”, “forecast”, “will”, “would”, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The financial guidance set forth under the heading “Outlook” contains such forward-looking statements. While these forward-looking statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from those contained in forward-looking statements, including any inability to maintain continued demand for our products; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; the extent and duration of the COVID-19 and other global pandemics and the associated adverse impacts on the global economy, financial markets, global supply chains and our operations as well as those of our customers and suppliers; failure to develop new and enhanced products and introduce them at competitive price levels; failure to adequately decrease costs and expenses as revenues decline; loss of significant customers, including through industry consolidation or the emergence of industry alliances; lengthening of the sales cycle; acts of terrorism and violence; disruption or failure of our information technology systems; consolidation activity and industry alliances in the semiconductor industry that may result in further increased customer concentration, inability to forecast demand and inventory levels for our products; the integrity of product pricing and protection of our intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, conflict minerals regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations, particularly to the extent occurring in the Asia Pacific region where we have a substantial portion of our production facilities; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; any inability to attract and retain skilled personnel, including as a result of restrictions on immigration, travel or the availability of visas for skilled technology workers.

    In addition, the United States and other countries have recently levied tariffs and taxes on certain goods and could significantly increase or impose new tariffs on a broad array of goods. They have imposed, and may continue to impose, new trade restrictions and export regulations. Increased or new tariffs and additional taxes, including any retaliatory measures, trade restrictions and export regulations, could negatively impact end-user demand and customer investment in semiconductor equipment, increase Besi’s supply chain complexity and manufacturing costs, decrease margins, reduce the competitiveness of our products or restrict our ability to sell products, provide services or purchase necessary equipment and supplies. Any or all of the foregoing factor could have a material and adverse effect on our business, results of operations or financial condition. In addition, investors should consider those additional risk factors set forth in Besi’s annual report for the year ended December 31, 2024 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.

    Consolidated Statements of Operations
     
    (€ thousands, except share and per share data) Three Months Ended
    March 31,
    (unaudited)
      2025 2024
         
    Revenue 144,145 146,314
    Cost of sales 52,423 48,043
         
    Gross profit 91,722 98,271
         
    Selling, general and administrative expenses 32,958 39,641
    Research and development expenses 19,502 17,919
         
    Total operating expenses 52,460 57,560
         
    Operating income 39,262 40,711
         
    Financial expense, net 2,959 589
         
    Income before taxes 36,303 40,122
         
    Income tax expense 4,797 6,143
         
    Net income 31,506 33,979
         
    Net income per share – basic 0.40 0.44
    Net income per share – diluted 0.40 0.44
         
    Number of shares used in computing per share amounts:    
    – basic 79,228,071 77,181,326
    – diluted 1 81,522,177 82,106,146

    _____________________________
    1) The calculation of diluted income per share assumes the exercise of equity settled share based payments and the conversion of all Convertible Notes outstanding

    Consolidated Balance Sheets
     
    (€ thousands) March
    31, 2025
    (unaudited)    		 December
    31, 2024
    (audited)
    ASSETS    
         
    Cash and cash equivalents 405,736 342,319
    Deposits 280,000 330,000
    Trade receivables 170,440 181,862
    Inventories 103,836 103,285
    Other current assets 46,099 40,927
         
    Total current assets 1,006,111 998,393
         
    Property, plant and equipment 42,868 44,773
    Right of use assets 15,161 15,726
    Goodwill 45,610 46,010
    Other intangible assets 98,622 96,677
    Deferred tax assets 29,240 31,567
    Other non-current assets 1,347 1,330
         
    Total non-current assets 232,848 236,083
         
    Total assets 1,238,959 1,234,476
         
         
         
    Bank overdraft 840 776
    Current portion of long-term debt – 2,042
    Trade payables 46,598 52,630
    Other current liabilities 111,170 111,531
         
    Total current liabilities 158,608 166,979
         
    Long-term debt 525,493 525,653
    Lease liabilities 11,770 12,350
    Deferred tax liabilities 10,416 10,320
    Other non-current liabilities 19,328 17,910
         
    Total non-current liabilities 567,007 566,233
         
    Total equity 513,344 501,264
         
    Total liabilities and equity 1,238,959 1,234,476
    Consolidated Cash Flow Statements
     
    (€ thousands) Three Months Ended March 31,
    (unaudited)
    		  
      2025   2024  
         
    Cash flows from operating activities:    
         
    Income before income tax 36,303   40,122  
         
    Depreciation and amortization 7,307   6,813  
    Share based payment expense 4,441   16,900  
    Financial expense, net 2,959   589  
         
    Changes in working capital (2,113 ) (3,251 )
    Interest (paid) received (2,887 ) 1,169  
    Income tax (paid) received (1,575 ) (2,089 )
         
    Net cash provided by operating activities 44,435   60,253  
         
    Cash flows from investing activities:    
    Capital expenditures (1,733 ) (5,650 )
    Capitalized development expenses (6,737 ) (4,663 )
    Repayments of (investments in) deposits 50,000   10,000  
         
    Net cash provided by (used in) investing activities 41,530   (313 )
         
    Cash flows from financing activities:    
    Proceeds from bank lines of credit 64   –  
    Payments of lease liabilities (1,114 ) (1,043 )
    Purchase of treasury shares (22,064 ) (14,779 )
         
    Net cash provided by (used in) financing activities (23,114 ) (15,822 )
         
    Net increase (decrease) in cash and cash equivalents 62,851   44,118  
    Effect of changes in exchange rates on cash and cash equivalents 566   (542 )
    Cash and cash equivalents at beginning of the period 342,319   188,477  
         
    Cash and cash equivalents at end of the period 405,736   232,053  
    Supplemental Information (unaudited)
    (€ millions, unless stated otherwise)
     
    REVENUE Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                         
    Per geography:                    
    China 40.5   28 % 42.8   28 % 45.5   29 % 57.5   38 % 58.5   40 %
    Asia Pacific (excl. China) 56.3   39 % 53.5   35 % 51.6   33 % 54.1   36 % 43.6   30 %
    EU / USA / Other 47.3   33 % 57.1   37 % 59.5   38 % 39.6   26 % 44.2   30 %
                         
    Total 144.1   100 % 153.4   100 % 156.6   100 % 151.2   100 % 146.3   100 %
                         
    ORDERS Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                         
    Per geography:                    
    China 39.7   30 % 40.4   33 % 45.4   30 % 43.3   23 % 51.1   40 %
    Asia Pacific (excl. China) 51.7   39 % 38.8   32 % 69.3   46 % 72.0   39 % 45.0   35 %
    EU / USA / Other 40.5   31 % 42.7   35 % 37.1   24 % 69.9   38 % 31.6   25 %
                         
    Total 131.9   100 % 121.9   100 % 151.8   100 % 185.2   100 % 127.7   100 %
                         
    Per customer type:                    
    IDM 48.1   36 % 61.2   50 % 84.5   56 % 122.4   66 % 53.5   42 %
    Foundries/Subcontractors 83.8   64 % 60.7   50 % 67.3   44 % 62.8   34 % 74.2   58 %
                         
    Total 131.9   100 % 121.9   100 % 151.8   100 % 185.2   100 % 127.7   100 %
                         
    HEADCOUNT Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
                         
    Fixed staff (FTE) 1,820   88 % 1,812   93 % 1,807   87 % 1,783   86 % 1,760   88 %
    Temporary staff (FTE) 251   12 % 134   7 % 271   13 % 279   14 % 236   12 %
                         
    Total 2,071   100 % 1,946   100 % 2,078   100 % 2,062   100 % 1,996   100 %
                         
    OTHER FINANCIAL DATA Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                         
    Gross profit 91.7   63.6 % 98.2   64.0 % 101.2   64.7 % 98.3   65.0 % 98.3   67.2 %
                         
                         
    Selling, general and admin expenses:                    
    As reported 33.0   22.9 % 28.6   18.6 % 27.3   17.4 % 30.5   20.2 % 39.6   27.1 %
    Share-based compensation expense (4.4 ) -3.1 % (2.9 ) -1.8 % (3.4 ) -2.1 % (6.9 ) -4.6 % (16.9 ) -11.6 %
                         
    SG&A expenses as adjusted 28.6   19.8 % 25.7   16.8 % 23.9   15.3 % 23.6   15.6 % 22.7   15.5 %
                         
                         
    Research and development expenses:                    
    As reported 19.5   13.5 % 19.0   12.4 % 18.9   12.1 % 18.5   12.2 % 17.9   12.2 %
    Capitalization of R&D charges 6.7   4.6 % 5.4   3.5 % 4.4   2.8 % 4.9   3.2 % 4.7   3.2 %
    Amortization of intangibles (3.7 ) -2.5 % (3.9 ) -2.5 % (3.9 ) -2.5 % (3.6 ) -2.3 % (3.6 ) -2.4 %
                         
    R&D expenses as adjusted 22.5   15.6 % 20.5   13.4 % 19.4   12.4 % 19.8   13.1 % 19.0   13.0 %
                         
                         
    Financial expense (income), net:                    
    Interest income (5.0 )   (5.1 )   (5.2 )   (3.0 )   (4.0 )  
    Interest expense 6.3     6.1     5.7     2.1     2.8    
    Net cost of hedging 1.8     2.0     1.9     1.4     1.6    
    Foreign exchange effects, net (0.1 )   0.9     (0.8 )   0.5     0.2    
                         
    Total 3.0     3.9     1.6     1.0     0.6    
                         
                         
    Operating income (as % of net sales) 39.3   27.2 % 50.6   33.0 % 55.1   35.2 % 49.3   32.6 % 40.7   27.8 %
                         
    EBITDA (as % of net sales) 46.6   32.3 % 58.0   37.8 % 62.4   39.8 % 56.2   37.2 % 47.5   32.5 %
                         
    Net income (as % of net sales) 31.5   21.9 % 59.3   38.6 % 46.8   29.9 % 41.9   27.7 % 34.0   23.2 %
                         
    Effective tax rate 13.2 %   -27.0 %   12.6 %   13.0 %   15.3 %  
                         
                         
    Income per share                    
    Basic 0.40     0.75     0.59     0.53     0.44    
    Diluted 0.40     0.74     0.59     0.53     0.44    
                         
    Average shares outstanding (basic) 79,228,071   79,402,192   79,630,787   79,281,533   77,181,326  
                         
    Shares repurchased                    
    Amount 22.1     22.4     27.8     14.8     14.8    
    Number of shares 186,869   198,450   230,807   105,042   101,049  
                         
                         
    Gross cash 685.7     672.3     637.4     257.2     447.1    
                         
    Net cash 159.4     143.8     110.7     74.4     180.9    
                         

    The MIL Network –

  • MIL-OSI Global: Flooding incidents in Ghana’s capital are on the rise. Researchers chase the cause

    Source: The Conversation – Africa – By Stephen Appiah Takyi, Senior Lecturer, Department of Planning, Kwame Nkrumah University of Science and Technology (KNUST)

    Urban flooding is a major problem in the global south. In west and central Africa, more than 4 million people were affected by flooding in 2024. In Ghana, cities suffer damage from flooding every year.

    Ghana’s president, John Dramani Mahama, has established a task force to find ways of improving flood resilience in the country. This is partly driven by an increase in flooding incidents in cities such as Accra and Kumasi in the last decade.

    We are urban planning and sustainability scholars. In a recent paper we analysed whether flooding in Accra, Ghana’s capital, was caused by climate change or poor land use planning.

    We conclude from our analysis that flooding is caused by poor and uncoordinated land use planning rather than climate change. We recommend that the physical planning department and other regulatory agencies are equipped to ensure the effective enforcement the relevant land use regulations.

    Mixed push factors

    The Accra metropolitan area is one of the 29 administrative units of Ghana’s Greater Accra region. It is the most populous region in Ghana, with over five million residents, according to the 2021 Housing and Population Census.

    We interviewed 100 households living in areas such as Kaneshie, Adabraka and Kwame Nkrumah Circle. These areas experience a high incidence of floods. Representatives of agencies such as the Physical Planning Department of the Accra Metropolitan Assembly, the National Disaster Management Organisation and the Environmental Protection Agency were interviewed too, about:

    • the nature and areas most prone to flooding in the study area

    • the frequency of flooding

    • land use planning and regulations and their influence on flooding.

    About 40% of the people we interviewed attributed flooding to both weak enforcement of land use regulation and changes in rainfall patterns. Most of the households (52%) said floods in Accra were the result of weak enforcement of land use regulations, while 8% blamed changes in land use regulations.

    We also analysed recorded data on flood incidence and rainfall. We found no correlation between increased rainfall and flooding. For example in 2017 there was a decrease in rainfall, but an increase in flooding.

    This finding points to the fact that rainfall isn’t the only factor contributing to flooding in the city.

    The agencies and city residents reported that between 2008 and 2018, they could see that more people were encroaching on the city’s wetlands by building homes and commercial infrastructure. This has changed the natural flow of water bodies. The Greater Accra Metropolitan and its environs has major wetlands such as Densu Delta, Sakumo Lagoon and Songor Lagoon.

    Interview respondents noted that the siting of unauthorised buildings and the encroachment on buffer zones of water bodies in the city could have been averted. They blamed political interference in the enforcement of land use regulation. The government makes the situation worse in two ways, they said:

    • planning standards and regulations are neglected in the development process. The processes involved in acquiring development permits are cumbersome and expensive, so people go ahead and develop without permits.

    • regulatory institutions and authorities are ineffective. This is clear from the fact that planning happens chaotically. No attention is given to the ecological infrastructure that’s needed.

    The way forward

    We conclude that land use malpractices remain the dominant causes of flooding in Accra. They include:

    • poor disposal of solid waste, which eventually blocks drains and results in water overflow during heavy rains

    • building on wetlands as a result of non-compliance or non-enforcement of land use regulations.

    There is an urgent need for Ghana’s cities to adopt best practices in waste management. These include recycling of plastic waste and composting for urban agriculture. An environmental excise tax was introduced in 2011 to fund plastic waste recycling and support waste management agencies.

    The increasing encroachment on wetlands should be addressed through the strict enforcement of buffer regulations. Planning authorities and the judiciary can collaborate on this. The city must also encourage green infrastructure, like rain gardens, green roofs, permeable pavement, street trees and rain harvesting systems.
    Research has shown these to be environmentally sustainable and cost-effective approaches to managing storm water.

    Another suggested approach is the introduction of the polluter pays principle in city management. This is a system where city residents who are involved in the pollution of the environment are made to pay for the cost of mitigating the impact. Residents who dispose of waste indiscriminately and encroach on wetlands would be made to pay for the cost of the environmental degradation. Cities such as Barcelona and Helsinki have applied this principle in the management of their industrial discharge and contaminated waste.

    Finally, there should be incentives for city residents to promote environmental sustainability. For example, a deposit refund system has been introduced in several states in the US and Australia. In this system, consumers are made to pay a deposit after purchasing items that can be recycled, such as plastic bottles, and the deposit is reimbursed to the consumer after the return of the empty bottles to a retail store.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Flooding incidents in Ghana’s capital are on the rise. Researchers chase the cause – https://theconversation.com/flooding-incidents-in-ghanas-capital-are-on-the-rise-researchers-chase-the-cause-254000

    MIL OSI – Global Reports –

  • MIL-OSI Russia: A well-appointed space for recreation and sports will appear in the Presnensky district under the KRT program

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    In Presnensky District, a land plot will be reorganized under the program of integrated development of territories (IDT). The corresponding draft resolution posted on the Moscow Government website. This was reported by the Minister of the Moscow Government, head of the capital’s Department of City Property Maxim Gaman.

    “According to the KRT project, it is planned to reorganize a 0.48-hectare site between Khodynskaya and Presnensky Val streets. As a result, the territory will be transformed into a comfortable, well-appointed public space, which will also include an open area for sports. The site will be landscaped and provided with a convenient street and road network. The territory will become part of an already established residential area near the Ulitsa 1905 Goda metro station,” said Maxim Gaman.

    This is already the second project in the Presnensky district within the framework of the integrated development program of territories. In total, it is planned to reorganize 1.24 hectares of land here.

    According to the KRT program, multifunctional city blocks are created, where roads, comfortable housing and all the necessary infrastructure are designed on the site of former industrial zones and inefficiently used areas. Currently, 302 KRT projects with a total area of about 4.2 thousand hectares are at various stages of development and implementation in the capital. This work is underway on behalf of Sergei Sobyanin.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

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

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    https: //vv.mos.ru/nevs/ite/153009073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Voting has begun for the best drawings in the “Create a New Muscovite Card” competition

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Department of Information Technology of the City of Moscow announced the start of the third stage of the competition “Create a new Muscovite card” – this is vote for the best drawings that will make it to the finals. It will last until May 4.

    “The theme of the competition turned out to be very interesting. We were worried in vain whether schoolchildren would like it, because we have already received more than 1.9 thousand applications and 2.3 thousand drawings. The jury faced a difficult task – to choose the most vivid and original illustrations. Now the city residents need to decide which of the 60 selected works will make it to the finals,” said Olesya Kuzmina, head of the “Muscovite Card” project.

    At the previous stage, the expert jury selected 30 works in each age category, which were shortlisted. Of these, on the competition page and in the services of the Active Citizen project, city residents will choose the drawings that will go to the finals in each age category – from seven to 10 years old and from 11 to 14 years old. And young Muscovites will be able to do this on the platform “Active Citizen for Children”The final stage will be voting, which will determine one winner of the Grand Prix of the competition, as well as winners of first, second and third places in each age group.

    The winners of the competition will be able to attend a tour and master classes at the Russian State University of Art and Industry named after S.G. Stroganov, they will also be presented with memorable gifts from the store of goods for creativity. The winner of the Grand Prix will have the opportunity to study at the Stroganov Children’s Academy of Design, and based on his competition illustration, a limited edition design of the Muscovite card will be developed.

    The announcement of the results and the awarding of the winners will take place on June 1 in the Smart City pavilion at VDNKh. An exhibition of drawings by the competition finalists will also be opened there. All the winners’ works will also be published on the competition website and in the Active Citizen project services.

    The Muscovite card with a unique design selected based on the results of the competition will be issued during the 2025/2026 academic year. It will be possible to apply for such a card from August 1, 2025 on the mos.ru portal. It will be available to children up to and including 14 years old who are receiving the card for the first time or are participants in the competition.

    The competition is held by the Department of Information Technology of the City of Moscow with the support of the Department of Culture of the City of Moscow and the State Institution “New Management Technologies”.

    Muscovite card — one of the main social projects of the capital. This is a personalized plastic card that is issued to residents of Moscow and provides them with personal access to the city infrastructure. It can be obtained by students schools and colleges, students, pensioners, people with disabilities, children and parents from large families, as well as other categories of citizens.

    You can find out more about the Muscovite card in telegram channel project, as well as from the mini-series “Moscow in Digital”.

    How to get a Muscovite card

    You can apply for a Muscovite card on the mos.ru portal. This requires a standard or full account. Children over 14 can do this on their own, but for children under 14, a parent or other legal guardian must apply for the service.

    You can check the status of the card production in your personal account on the mos.ru portal in the “Applications and notifications” section, using the service “Checking the readiness of the Muscovite card”, as well as by calling the hotline: 7 495 539-55-55 and in official groups on social networks “VKontakte” And“Classmates”.

    The Muscovite card will be ready within 30 days from the date of application. Notification about the possibility of receiving it will be sent to your personal account on the mos.ru portal and by e-mail. Preschoolers over seven years old, school and college students can pick up the ready card at the educational institution. Those who are studying in private schools or outside Moscow, as well as other preferential categories of citizens – at the selected center of state services “My Documents”.

    Receipt of a Muscovite card for a student must be confirmed in the personal account on mos.ru within 90 days. In other cases, this is not required.

    The creation, development and operation of the e-government infrastructure, including the provision of mass socially significant services, as well as other services in electronic form, correspond to the objectives of the national project “Data Economy and Digital Transformation of the State” and the regional project of the city of Moscow “Digital Public Administration”.

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    https: //vv.mos.ru/nevs/ite/152998073/

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Banking Ombudsman Scheme backs banks’ stronger consumer protections from scams

    Source: Banking Ombudsman Scheme

    23 April 2025 – The Banking Ombudsman Scheme has welcomed today’s announcement by banks that they will crack down on scams.
    Banking Ombudsman Nicola Sladden said the scheme had been calling for stronger consumer protections from scams for some time.
    “We see first-hand the emotional and financial cost of scams. Beyond the monetary impact, victims endure the distress of being deceived, leading to a loss of confidence to operate online.
    “Consumers are doing more and more online, making it increasingly vital they have a safe digital environment in which to make payments and transfer money.
    “We’re pleased the confirmation of payee system is now in place. It’s an obvious way to fight back against scammers.”
    Ms Sladden also welcomed other initiatives such as greater sharing of intelligence, improved fraud detection systems and warnings for high-risk transactions.
    “These initiatives will all help in the fight against the scourge of scams. However, for scam prevention measures to be truly successful, more cross-sector collaboration is needed.
    “New Zealand will not be able to defeat scammers unless all relevant government and non-government organisations work in concert. Scammers will continue to exploit vulnerabilities in the eco-system, so any counter-measures must be equally broad in scope.”
    She said the Government, relevant agencies such as the police and the National Cyber Security Centre, banks, telecommunications companies and digital platforms must work together to make scam prevention stronger at every level.
    “We also welcome the updated Code of Banking Practice. It is a step forward. The updated Code now provides a basis for banks to compensate customers for scam losses for both authorised and unauthorised payment scams.”
    Ms Sladden said the scheme believed the introduction of comprehensive, mandatory codes of practice for banks, telecommunication companies and digital platforms governing their responsibilities in preventing scams and the scope of their liability in the event of scam losses was long overdue.
    “Enforceable standards will help lift the bar on preventing scams. Such standards will provide clarity for consumers and industry, which will help deliver effective resolution.
    “We look forward to increased collaboration with banks, consumer groups, regulators and government agencies to prevent scams.”
    The scheme received 949 scam cases in the 2023-24 financial year. The average loss for escalated scam cases (disputes) was $80,000 – up from $57,000 the previous year.
    About the scheme
    The Banking Ombudsman Scheme is a free and independent dispute resolution service. We look into complaints by customers about their banks. Sometimes we make formal decisions, but often we facilitate outcomes agreeable to the customer and the bank before that. We also help in other ways, such as offering information and guidance on banking matters. We put the customer at the heart of what we do.

    MIL OSI New Zealand News –

  • MIL-OSI Global: South Africa: state of the nation 30 years into democracy

    Source: The Conversation – Africa – By Sandy Africa, Director Research, MISTRA and Research Associate, Department of Political Sciences, University of Pretoria

    Just over 30 years after South Africa’s first democratic elections, public opinion is divided over how to evaluate the post-apartheid, democratic state. Characterisations range from “failed or failing state”, to
    “mafia state” to the more optimistic “developmental state” committed to addressing historical patterns of injustice through decisive state intervention.

    The characterisations vary so widely because interpretations of the state are shaped not only by a complex empirical reality but also by competing theoretical and ideological perspectives. Some parts of the state appear dysfunctional, marked by failure, corruption, or capture. Others are viewed as evolving, contested, or in need of transformation. The perspective depends on the framework of analysis applied.

    Theoretical approaches reinforce these divisions. Some emphasise state failure and breakdowns. Some highlight illicit networks and patronage. Others focus on whether the state is supported by strong institutions and leadership, has the necessary operational know-how, or operates within a clear ethical matrix.

    These overlapping dimensions produce divergent conclusions. To some, the proverbial glass is half empty, while to others it is half full.

    The ongoing debate about the successes and failures of the South African state is the subject of a book that followed a call for papers in 2023 – The State of the South African State: Capability, Capacity and Ethics.

    The book poses the question of whether South Africa’s future lies in hope or despair. Contributors cover a range of themes through the lens of a range of disciplines in the social sciences. The themes include financing of the state’s responsibilities, managing the energy transition, water provision, the political economy, foreign policy, the state of the security sector, traditional leadership, the role of civil society and the capacity of the public service.

    Capacity, capability and ethics

    In assessing the state’s performance, the book addresses three interdependent components: capacity, capability and ethics.

    Capacity refers to the state’s institutional make-up (its tangible infrastructure).

    Capability refers to the means at the society’s disposal to enable the state to deliver on its mandate. It includes the operational know-how, including how effectively the state uses its resources.

    Ethics refers to the behaviours displayed by those entrusted with leadership and implementation responsibilities across the state.

    A state with ample capacity and high capability but lacking in ethical grounding may misuse its resources. This leads to corruption and public disillusionment.
    Conversely, strong ethical commitments without sufficient capacity or capability may result in well-intentioned but ineffective policies.

    When ethics guide the accumulation of capacity as well as the effective, strategic use of those resources, the state is more likely to fulfil its public mandate and uphold constitutional values.

    Historical evolution

    The volume situates this framework within broader theoretical debates. It explains how past and present challenges (such as state capture or institutional decay) have emerged. It also charts a pathway for renewal.

    The democratic South African state’s formal evolution has passed through four phases:

    • transition and transformation (1994-1999)

    • policy orientation and compromise (mid-1990s to early 2000s)

    • erosion and institutional decay (2008-2018)

    • attempts at recovery and renewal (2019-July 2024)

    • the government of national unity agenda (July 2024 to present).

    In the immediate post-1994 era, the state transformed its capacity. It replaced apartheid-era structures with new bodies designed to uphold constitutional principles and reflect democratic values.

    The guiding ethical operating system was strong. Ideals of dignity, equality, and inclusivity were central to the nation-building project. This set the stage for policies intended to redress historical injustices, even if practical know‐how was still maturing.

    In the second phase of state-building (after the first five years of democracy) there was a shift from the initial promise of the Reconstruction and Development Programme towards a market-oriented approach. This policy change was an attempt to manage economic realities through market mechanisms. But some policy actors saw it as a betrayal of the poor and the working class.

    During this period, the ethical underbelly began to show signs of strain. As pragmatic and market-driven ideas took precedence, some of the original ethical commitments were diluted. These included broad-based development and social justice. This contributed to compromises that would later affect public trust.

    In the third phase from about 2009 onwards, the state’s institutional capacity suffered from high levels of mismanagement and poor oversight. The robustness of institutions was undermined by chronic neglect and corruption.

    State capture and corruption impaired the state’s ability to use its capacity effectively. The result was policy failures. This made it more difficult to meet social and economic challenges.

    The weakening of accountability allowed unethical practices to flourish. It also undermined the very ideas that had originally set the state on a path of inclusive development.

    In the phases that followed reform efforts focused on rebuilding operational capacity. There were attempts to improve administrative efficiency and strategic planning, and build compacts for social change and redress.

    Measures were introduced – albeit gradually – to reinforce accountability and transparency. The aim was to renew the social compact between the state and society around inclusive growth and accountability.

    After the 2024 national and provincial government elections, the African National Congress (ANC) had to form a unity government in July 2024. Since then, there has been a renewed effort to strengthen the state’s capacity. The unity government’s agenda places some emphasis on improving operational efficiency and strategic planning.

    Hope or despair?

    Despite both domestic and international pressures, including a change in administration in the US, recent unity government efforts highlight that a positive turnaround is possible, though it is far from guaranteed.

    The framework set out in the book suggests that building an effective, capable and developmental depends on:

    • bolstering institutional capacity

    • improving the effective use of resources

    • embedding strong ethical standards into all levels of state activity.

    To some observers, the post-apartheid state was doomed to failure from the start, due to the negotiated settlement that brought it about. To others, the legitimacy of the state has been eroded by poor policy choices, and that’s why it now faces a polycrisis.

    And to others, the state has been captured and repurposed by opportunistic and self-serving forces.

    Understanding the state of the South African state is contested territory. And probably will be for a long time to come.

    The upcoming book was the subject of a webinar hosted by the Mapungubwe Institute for Strategic Reflection, MISTRA, earlier this year:
    A YouTube recording of the webinar can be found here.

    Sandy Africa is the Research Director of the Mapungubwe Institute for Strategic Reflection and a Research Associate at the University of Pretoria. Together with Na’eem Jeenah and Musa Nxele, she is a co-editor of the forthcoming book.

    Musa Nxele is the Academic Director of the Nelson Mandela School of Public Governance, University of Cape Town.

    Na’eem Jeenah is a senior researcher at the Mapungubwe Insttitute for Strategic Reflection (MISTRA).

    – ref. South Africa: state of the nation 30 years into democracy – https://theconversation.com/south-africa-state-of-the-nation-30-years-into-democracy-251724

    MIL OSI – Global Reports –

  • MIL-OSI Russia: The average payment period for government contracts to businesses in Moscow has been reduced to four working days

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Over three years, the average payment period for government contracts in Moscow has decreased by more than 40 percent and now amounts to four working days. This increases the efficiency of procurement and contributes to the growth of the attractiveness of government orders for Moscow businesses. This was reported by Maria Bagreeva, Deputy Mayor of Moscow, Head of the Moscow Department of Economic Policy and Development.

    “The payment deadline for government contracts established by federal law is seven working days since 2022. In Moscow, by the end of 2024, it was reduced to an average of four working days. This was achieved thanks to the efficient operation of the contract system and the high level of digitalization of processes. Now entrepreneurs receive funds for delivered goods and performed work and services faster, which contributes to even greater involvement of businesses in government procurement and an increase in the volume of contracts concluded. Thus, in the first quarter of 2025, the city signed contracts with capital suppliers under 44-FZ for 345.3 billion rubles, which is more than 60 percent higher than the figure for the first quarter of 2022,” said Maria Bagreeva.

    The Moscow City Department for Competition Policy is conducting comprehensive work to attract entrepreneurs to the public procurement system. Reducing payment terms for contracts is just one of the tools for solving this problem.

    “The introduction of convenient electronic services and standard documentation contributes to the reduction of the main stages of the procurement cycle. In turn, the acceleration of processes increases the level of involvement of entrepreneurs in working with government procurement. Today, there are 24 suppliers per customer in the capital’s contract system, which ensures a high level of competition and enables state and municipal institutions to promptly receive high-quality goods, works and services,” noted the head of the Moscow City Department for Competition Policy Kirill Purtov.

    Moscow’s contract system consistently demonstrates high efficiency. Capital is in the lead in the National Procurement Transparency Rating. Thanks to the standardization of procedures, the introduction of digital technologies and the involvement of small businesses, Moscow state procurement ensures savings at all stages of the process.

    Get the latest news quicklyofficial telegram channel “City of Moscow”.

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    https: //vv.mos.ru/nevs/ite/152956073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Three houses for the implementation of the renovation program will appear in Nauchny Proezd under the KRT project

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    As part of the integrated development program (IDT) in the capital, a planning project for a 6.6-hectare site at 11a Nauchny Proezd has been approved. Residential buildings will be built here to implement the renovation program. This was reported by Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “A residential block will be built on a site in the Cheryomushki area for the purposes of the renovation program. Three apartment buildings with built-in and attached non-residential premises will be erected there, as well as an administrative building for the city’s public utilities. In total, 173.9 thousand square meters of real estate are planned to be built on this site. As a result of the project, more than 330 jobs will be created,” said Vladimir Efimov.

    There are three metro stations within walking distance of the future residential area: Kaluzhskaya on the Kaluzhsko-Rizhskaya Line, Vorontsovskaya and Zyuzino on the Big Circle Line. The site will be reorganized by an operator appointed by the city from 2024.

    “In addition to the construction of real estate, it is planned to provide the quarter with a convenient street and road network. Thus, two new local streets will be built here and sections of Nauchny Proezd will be reconstructed with the installation of sidewalks. Work will also be carried out on the improvement and landscaping of the territories adjacent to the houses with a total area of almost one hectare,” noted the Minister of the Moscow Government, head of the capital’s Department of City Property

    Maxim Gaman.

    Housing for the implementation of the renovation program is being built not only on specially selected territories and on the site of previously resettled houses, but also on sites being reorganized under the KRT program.

    As noted by the Minister of the Moscow Government, head of the capital’s Department of Urban Development Policy Vladislav Ovchinsky, the total area of apartments in new buildings erected for the purposes of implementing the renovation program will be approximately 105.2 thousand square meters. New housing will be provided to about 3.5 thousand Muscovites. Elevators will be installed in the entrances, rooms for concierges and storage rooms for strollers and bicycles will be equipped.

    The first floors will be made non-residential. In the future, pharmacies, leisure and educational centers for children, private medical clinics and other social and domestic infrastructure facilities will open here.

    According to the program of integrated development of territories, multifunctional urban quarters are created, where roads, comfortable housing and all necessary infrastructure are designed on the site of former industrial zones and inefficiently used areas. Currently, 302 KRT projects with a total area of about 4.2 thousand hectares are at various stages of development and implementation in the capital. The work is underway on behalf of Sergei Sobyanin.

    Previously Sergei Sobyanin said on resettlement under renovation in Timiryazevsky district.

    Renovation program approved in August 2017. It concerns about a million Muscovites and provides for the resettlement of 5,176 houses. Sergei Sobyanin instructed to double the pace of implementation of the renovation program.

    Moscow is one of the leaders among regions in terms of construction volumes. High rates of housing construction correspond to the goals and initiatives of the national project “Infrastructure for life”.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/153005073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Panda Katyusha began living in the Moscow Zoo separately from her mother

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Katyusha – my favorite Moscow Zoo and the first panda born in Russia, will turn one year and eight months old on April 24. Her mother, Dindin, has decided that Katyusha is old enough to live on her own.

    In the wild, bamboo bears take care of their cubs and feed them for up to one and a half to two years. Dinding was very sensitive to her daughter – she fed her milk, taught her caution, instilled all the necessary skills – for example, the ability to climb and group when falling. Then she taught Katyusha to eat bamboo, and at six months the little panda tried carrots. Now the cub’s diet includes everything an adult needs and everything necessary for full growth and development. Katyusha eats bamboo, carrots, sweet potatoes, apples and panda cakes – special steamed bread.

    “Now Dindin has decided that her cub has grown up and is ready to live separately. This moment comes suddenly and quickly for animals. One day, the female began to show the first signs of a fight for territory. She began to growl threateningly, snort and chase Katyusha away. These aggressive actions could be dangerous for the cub. Our zoologists contacted Chinese specialists, and they recommended that we separate the pandas, which was done,” said Svetlana Akulova, General Director of the Moscow Zoo.

    Katyusha has excellent indicators – she weighs 65 kilograms. For comparison: Dindin at this age was almost nine kilograms lighter. Katyusha also recently began to participate in veterinary training: she allows you to feel her belly, examine her teeth, and stand on the scales. She also learned this by repeating her mother’s movements.

    The design of the Fauna of China pavilion allows for rotation of the animals: now Katyusha and Dinding take turns walking in the outdoor enclosure. After some time, zoologists tried to connect the mother with the cub through a lattice gate, but the adult female began making threatening sounds again. Therefore, now the pandas remain in separate rooms.

    Moscow Zoo specialists believe that Katyusha is ready for independent life. But the baby will have a certain period of adaptation. Zoologists are closely monitoring the condition of these animals and are in constant contact with Chinese specialists from the Center for the Conservation and Study of Giant Pandas.

    You can watch how pandas live online at this page.

    The name for the first giant panda born in Russia chose Muscovites: The Moscow City Department of Culture and the Active Citizen project have prepared a special vote.

    The Moscow Zoo opened in 1864. Today it is one of the oldest zoos in Europe. It is under the jurisdiction of the capital’s Department of Culture.

    Sobyanin: Moscow Zoo takes first place in the world in species diversity

    Get the latest news quickly official telegram channel the city of Moscow.

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/153019073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Housing to be built on Simonovsky Val Street under the KRT renovation program — Moscow Mayor

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    A project for the reorganization of the territory of non-residential development in the Yuzhnoportovy District of the South-Eastern Administrative District has been approved. A plot of 0.44 hectares on Simonovsky Val will be occupied by modern housing for the purposes of the renovation program. This was reported in its telegram channel Sergei Sobyanin reported.

    “Previously, there were outdated objects here. Now, in their place, we will build 18.6 thousand square meters of real estate, improve the territory and update the street and road network. This is another step towards creating a comfortable urban environment. Today, 115 integrated development projects with an area of about 1.4 thousand hectares are being implemented in Moscow. As a result, city residents will receive more than 28 million square meters of modern real estate and over 334 thousand new jobs,” the Moscow Mayor wrote.

    Source: Sergei Sobyanin’s telegram channel @mos_sobyanin 

    Currently, the area between Bolshoy Simonovsky Lane and Melnikova Street at the address: Simonovsky Val Street, Building 9, Block 2 is occupied by outdated buildings.

    The urban development potential of the site near the Proletarskaya metro station is 18.6 thousand square meters of real estate. A modern residential complex will appear here for the purposes of the renovation program. In addition, landscaping of the territory and organization of the street and road network are planned.

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

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    HTTPS: //vv.mos.ru/mayor/tkhemes/12649050/

    MIL OSI Russia News –

  • MIL-Evening Report: Sniping koalas from helicopters: here’s what’s wrong with Victoria’s unprecedented cull

    Source: The Conversation (Au and NZ) – By Liz Hicks, Lecturer in Law, The University of Melbourne

    Roberto La Rosa/Shutterstock

    Snipers in helicopters have shot more than 700 koalas in the Budj Bim National Park in western Victoria in recent weeks. It’s believed to be the first time koalas have been culled in this way.

    The cull became public on Good Friday after local wildlife carers were reportedly tipped off.

    A fire burned about 20% of the park in mid-March. The government said the cull was urgent because koalas had been left starving or burned.

    Wildlife groups have expressed serious concern about how individual koalas had been chosen for culling, because the animals are assessed from a distance. It’s not clear how shooting from a helicopter complies with the state government’s own animal welfare and response plans for wildlife in disasters.

    The Victorian government must explain why it is undertaking aerial culling and why it did so without announcing it publicly. The incident points to ongoing failures in managing these iconic marsupials, which are already threatened in other states.

    Hundreds of koalas were left starving or injured after bushfires in Budj Bim National Park a month ago.
    Vincent_Nguyen/Shutterstock

    Why did this happen?

    Koalas live in eucalypt forests in Australia’s eastern and southern states. The species faces a double threat from habitat destruction and bushfire risk. They are considered endangered in New South Wales, Queensland and the Australian Capital Territory.

    In Victoria, koala population levels are currently secure. But they are densely concentrated, often in fragments of bush known as “habitat islands” in the state’s southwest. Budj Bim National Park is one of these islands.

    Over time, this concentration becomes a problem. When the koalas are too abundant, they can strip leaves from their favourite gums, killing the trees. The koalas must then move or risk starvation.

    If fire or drought make these habitat islands impossible to live in, koalas in dense concentrations often have nowhere to go.

    In Budj Bim, Victoria’s Department of Energy, Environment and Climate Action and Parks Victoria have tackled koala overpopulation alongside Traditional Owners by moving koalas to new locations or sterilising them.

    But Budj Bim is also surrounded by commercial blue gum plantations. Koalas spread out through the plantations to graze on the leaves. Their populations grow. But when the plantations are logged, some koalas have to return to the national park, where food may be in short supply.

    Plantations of blue gums are located near Budj Bim. Animal welfare groups claim logging has driven koala overpopulation in the national park.
    Anna Carolina Negri/Shutterstock

    Animal welfare groups say logging is one reason Budj Bim had so many koalas.

    It’s hard to say definitively whether this is the case, because the state environment department hasn’t shared much information. But researchers have found habitat islands lead to overabundance by preventing the natural dispersal of individuals.

    So why was the culling done? Department officials have described the program as “primarily” motivated by animal welfare. After the bushfire last month, koalas have been left starving or injured.

    Why shooters in helicopters? Here, the justification given is that the national park is difficult to access due to rocky terrain and fire damage, ruling out other methods.

    Euthanising wildlife has to be done carefully

    Under Victoria’s plan for animal welfare during disasters, the environment department is responsible for examining and, where necessary, euthanising wildlife during an emergency.

    For human intervention to be justified, euthanasia must be necessary on welfare grounds. Victoria’s response plan for fire-affected wildlife says culling is permitted when an animal’s health is “significantly” compromised, invasive treatment is required, or survival is unlikely.

    For koalas, this could mean loss of digits or hands, burns to more than 15% of the body, pneumonia from smoke inhalation, or blindness or injuries requiring surgery. Euthanised females must also be promptly examined for young in their pouches.

    The problem is that while aerial shooting can be accurate in some cases for larger animals, the method has questionable efficacy for smaller animals – especially in denser habitats.

    It’s likely a number of koalas were seriously injured but not killed. But the shooters employed by the department were not able to thoroughly verify injuries or whether there were joeys in pouches, because they were in the air and reportedly 30 or more metres away from their targets.

    While the department cited concerns about food resources as a reason for the cull, the state’s wildlife fire plan lays out another option: delivery of supplementary feed. Delivering fresh gum leaves could potentially have prevented starvation while the forest regenerates.

    What should the government learn from this?

    The state government should take steps to avoid tragic incidents like this from happening again.

    Preserving remaining habitat across the state is a vital step, as is reconnecting isolated areas with habitat corridors. This would not only reduce the concentration of koalas in small pockets but increase viable refuges and give koalas safe paths to new food sources after a fire.

    Future policies should be developed in consultation with Traditional Owners, who have detailed knowledge of species distributions and landscapes.

    We need better ways to help wildlife in disasters. One step would be bringing wildlife rescue organisations into emergency management more broadly, as emphasised in the 2009 Victorian Bushfires Royal Commission and the more recent Royal Commission into National Natural Disaster Arrangements.

    This latter report pointed to South Australia’s specialised emergency animal rescue and relief organisation – SAVEM – as an effective model. Under SA’s emergency management plan, the organisation is able to rapidly access burned areas after the fire has passed through.

    Victoria’s dense communities of koalas would be well served by a similar organisation able to work alongside existing skilled firefighting services.

    The goal would be to make it possible for rescuers to get to injured wildlife earlier and avoid any more mass aerial culls.

    Liz Hicks has previously received a Commonwealth Research Training Program stipend. She is a member of the Australian Greens Victoria, although her views do not reflect a party position or party policy.

    Dr Ashleigh Best previously received a Commonwealth Research Training Program scholarship, which supported some of the research in this article. She is an inactive member of the Animal Justice Party, and previously volunteered with Wildlife Victoria.

    – ref. Sniping koalas from helicopters: here’s what’s wrong with Victoria’s unprecedented cull – https://theconversation.com/sniping-koalas-from-helicopters-heres-whats-wrong-with-victorias-unprecedented-cull-254996

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: China’s crewed moon landing mission progressing steadily: CMSA

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

    JIUQUAN, April 23 — China’s crewed moon landing mission is progressing soundly, and multiple tests on related spacecraft will be conducted soon, the China Manned Space Agency (CMSA) said on Wednesday.

    Major lunar landing-related equipment, such as the Long March-10 carrier rocket, the manned spacecraft Mengzhou (Dream Vessel), the lunar lander Lanyue (Embracing the Moon), the moon-landing spacesuit Wangyu (Gazing into the Cosmos) and the manned lunar rover Tansuo (To Explore the Unknown), are all undergoing prototype research and development testing as planned, CMSA spokesman Lin Xiqiang revealed at a press conference.

    Notably, the lunar remote sensing satellite project has completed its approval and competitive selection processes. The development and construction of ground systems — including the launch site, the measurement and control communication system, and the landing site, are also advancing in order, Lin added.

    Several experiments involving the rocket, the manned spacecraft and the lunar lander have been completed, while subsequent large-scale tests will be conducted at the inland launch site at Jiuquan in northwest China and the coastal Wenchang launch site in south China’s Hainan Province, to comprehensively verify critical functions and performance of flight equipment.

    Lin noted that future tests will focus on comprehensive verification of new products and technologies — which are “complicated and urgent with great risks and challenges.”

    “We will ensure the success of all tests to lay a solid foundation for landing astronauts on the moon as scheduled,” Lin said.

    China aims to land its astronauts on the moon before 2030, with the purpose of conducting scientific exploration, according to the CMSA.

    MIL OSI China News –

  • MIL-OSI: VERAXA Biotech and Voyager Acquisition Corp. Announce Business Combination Agreement to Create Nasdaq-Listed Biopharmaceutical Company Advancing a Pipeline of Next-Generation Cancer Therapies

    Source: GlobeNewswire (MIL-OSI)

    • VERAXA’s Novel BiTAC Platform has the Potential to Deliver Multiple Next-Generation Solid Tumor Cancer Therapies, Including Novel Antibody-Drug Conjugate (“ADC”) and Bispecific T-cell Engager (“TCE”) Candidates, with Strong and Differentiated Clinical Profiles
    • Company Pursuing Multiple Strategic Partnerships and Licensing Opportunities in 2025 and 2026
    • Transaction Values VERAXA at a Pre-money Equity Value of $1.3 Billion
    • Actively Working with Existing and New VERAXA Investors to Raise a Crossover Financing Round, which is Expected to Close Ahead of the Business Combination, Alongside up to $253 Million in Cash Held in Trust
    • Business Combination is Expected to be Completed in the Fourth Quarter of 2025
    • A Joint Investor Presentation Providing an Overview of the Proposed Transaction can be Viewed: https://dealroadshow.com/e/VER2025

    ZURICH, Switzerland, and BROOKLYN, New York, April 23, 2025 (GLOBE NEWSWIRE) — VERAXA Biotech AG (“VERAXA” or the “Company”), an emerging leader in designing novel cancer therapies, and Voyager Acquisition Corp., a Cayman Islands exempted company and special purpose acquisition company targeting the healthcare sector (NASDAQ: VACH, “Voyager” or the “SPAC”), announced today that they have entered into a definitive business combination agreement (the “Business Combination Agreement”). The proposed business combination (the “Business Combination”) would create a publicly traded, clinical-stage biopharmaceutical company focused on the development of a comprehensive pipeline of next-generation cancer therapies. Upon closing of the transaction, VERAXA Biotech AG is expected to list on NASDAQ under the proposed ticker symbol “VERX.”

    VERAXA Overview

    VERAXA is advancing a premier drug discovery and development engine for ADCs and other novel antibody-based therapy concepts. Through Bi-Targeted Antibody Cytotoxicity (“BiTAC”), a powerful and scalable proprietary technology platform that enables a highly specific dual-marker approach, the Company is accelerating a pipeline of next-generation cancer therapies that have the potential to expand the therapeutic window of current solid tumor standard of care treatments through improved safety and efficacy profiles.

    The Company has recently widened the scope of its AI-enabled technology platform and is now actively pursuing two major drug modalities:

    • Next-generation bispecific antibody drug conjugates, BiTAC ADCs and bsADCs, and
    • Bi-specific antibodies targeting key immune cells, also called T cell engagers, or TCEs.

    Both therapeutic modalities represent highly active and growing markets within the cancer therapy sector, respectively. The global TCE market is projected to reach $112 billion in 2030 with a CAGR of >44%. Similarly, the global ADC market size is projected to reach $57 billion by 2030 with a CAGR of close to 30%.

    “VERAXA is committed to developing and delivering the next wave of safe and highly efficacious cancer therapies. Our platform technologies can be applied to empower multiple therapeutic strategies spanning next-generation antibody-drug conjugates including our BiTAC ADCs and bi-specific BiTAC immune cell engagers,” stated Christoph Antz, Ph.D., CEO and Co-Founder of VERAXA. “Side effects too often limit today’s cancer therapies and prevent doctors from applying optimal dose levels. Our latest platform innovation, the BiTAC format, is designed to specifically address this issue and create first-in-class drug candidates with unprecedented safety and efficacy.”

    VERAXA’s pipeline currently comprises nine discovery and development programs at various stages in development, including an active Phase 1 program in leukemia. The Company’s most advanced clinical asset, VX-A901, is a highly differentiated Fc-enhanced therapeutic antibody targeting FLT3 and has shown potent anti-cancer activity. VX-A901 has backbone therapy potential addressing different patient groups across several treatment lines and settings with a complementary Mechanism of Action to currently available treatment options. Through a two-fold approach of pursuing both internal innovation and strategic partnerships, the Company anticipates having a robust pipeline by 2029, including three proprietary development programs in the clinic and a growing portfolio of licensed assets.

    VERAXA is led by an experienced team headed by Chief Executive Officer Christoph Antz, Ph.D and Chief Business Officer Heinz Schwer, Ph.D., MBA., both serial entrepreneurs and former venture capital investors. The leadership team is supported by international scientific advisors including Prof. Dr. Ralf C. Bargou, a renowned immuno-oncology expert whose scientific work has contributed to the successful development of the first FDA-approved bispecific cancer therapy with blinatumomab.

    VERAXA Biotech’s majority shareholders are Xlife Sciences AG (SIX: XLS), a Swiss-based publicly listed life science incubator fund, the European Molecular Biology Laboratory (“EMBL”), and its technology transfer arm EMBLEM.

    “Voyager’s mission is to identify innovative healthcare companies positioned for long-term success with strong business models and expansive total addressable markets. VERAXA exemplifies all these compelling characteristics, underscored by a steadfast commitment to bring transformative drug modalities to cancer patients through pursuing strategic global partnerships and advancing its proprietary pipeline,” stated Adeel Rouf, Chief Executive Officer and Director of Voyager Acquisition Corp. “We believe that the rapid change that ADCs and bispecific therapies have delivered and will continue to deliver to cancer therapy creates compelling opportunities for those with the vision to capitalize on them.”

    “The planned NASDAQ listing of VERAXA Biotech marks a pivotal milestone for both VERAXA and Xlife Sciences and exemplifies our mission of bringing groundbreaking science from the lab to life – and to the market,” stated Oliver Baumann, Acting Chairman of the VERAXA Board and CEO of Xlife Sciences. “The access to the U.S. capital markets provided by this combination will support the realization of Veraxa’s powerful technology platform and clinical assets, paving the way for potential significant value creation. We are proud to have supported VERAXA from its inception and, as one of the Company’s largest shareholders, we are confident that this transaction will significantly accelerate its ability to deliver first-in-class therapies to patients worldwide.”

    “We believe next-generation ADCs and bispecifics will continue to revolutionize oncology, due to their significant improvement over standard of care treatments and higher probability of technical and regulatory success compared to other oncology drugs, as evidenced by multiple deals in excess of $1 billion each since 2023 in this space,” stated Warren Hosseinion, M.D., Chairman of the Board of Voyager Acquisition Corp. “VERAXA’s robust pipeline of drug candidates was developed by leveraging its next-generation technology platform approach to drug discovery, development, and delivery, which we believe has the potential to dramatically cut development costs and time.”

    Transaction Overview

    Under the terms of the Business Combination Agreement, VERAXA’s equity value contribution into the Business Combination will amount to approximately $1.3 billion. Accordingly, VERAXA’s shareholders will receive approximately 130 million ordinary shares of the combined company in exchange for their existing VERAXA shares. Existing VERAXA shareholders and management will not receive any cash proceeds as part of the transaction and will roll over 100% of their equity into the combined company.

    Assuming a share price of $10.00 per share and no redemptions of Voyager’s shares by Voyager’s public shareholders, VERAXA (as a combined entity) is expected to have an implied pro forma equity value of approximately $1.64 billion at closing.

    Upon the closing of the Business Combination, VERAXA anticipates access to approximately up to $253 million in cash held in trust by Voyager, prior to the payment of transaction costs of VERAXA and Voyager, and assuming no redemptions by Voyager’s public shareholders.

    Additionally, VERAXA is actively raising a crossover financing round from existing and new investors, which the Company expects to close prior to the completion of the Business Combination. Net proceeds from this capital raise are expected to provide VERAXA with sufficient capital for the next two years, not including various potential partnering and co-development opportunities.

    The boards of directors of both Voyager and VERAXA have unanimously approved the Business Combination. Voyager and VERAXA expect the Business Combination to close in the fourth quarter of 2025. The transaction is subject to approval of Voyager’s and VERAXA’s shareholders and the satisfaction of certain other customary closing conditions.

    Additional information about the transaction will be provided in a Current Report on Form 8-K that will contain an investor presentation to be filed with the Securities and Exchange Commission (“SEC”) and will be available at www.sec.gov. In addition, VERAXA intends to file relevant materials with the SEC, including a registration statement on Form F-4 (the “Registration Statement”) to be filed with the SEC, which will include a proxy statement/prospectus of Voyager, and will file other documents regarding the Business Combination with the SEC. This communication Is not intended to be, and is not, a substitute for the proxy statement/prospectus or any other document that Voyager has filed or may file with the SEC in connection with the Business Combination.

    Advisors

    Anne Martina Group is acting as sole M&A advisor to VERAXA. Duane Morris LLP is acting as legal counsel to VERAXA. Winston & Strawn LLP is serving as legal counsel to Voyager.

    Transaction Presentation Details

    A presentation providing further details on the transaction can be found here: https://dealroadshow.com/e/VER2025

    About VERAXA Biotech

    At VERAXA Biotech, we are building a premier engine for the discovery and development of next-generation antibody-based therapeutics, including BiTAC antibody-drug conjugates (“BiTAC ADCs”), bispecific T cell engagers (“BiTAC TCEs”), and other innovative formats. Powered by a suite of transformative technologies and guided by rigorous quality-by-design principles, we are rapidly advancing our pipeline of ADCs and proprietary BiTAC formats into clinical development and beyond. VERAXA Biotech was founded on scientific breakthroughs made at the European Molecular Biology Laboratory (“EMBL”), a world-renowned institution known for pioneering life science research and cutting-edge technologies. For more information, please visit www.veraxa.com.

    About Voyager Acquisition Corp.

    Voyager Acquisition Corp. is a special purpose acquisition company with a bold mission: to revolutionize the healthcare sector through a merger, stock purchase, or business combination. Our team of experienced executives includes unparalleled expertise in investing, operations, and medical innovation, supported by a vast network of connections. With these strengths, we not only seek to drive success but commit to scaling companies to unprecedented heights in the healthcare industry. For more information, please visit https://www.voyageracq.com.

    About Xlife Sciences AG (SIX: XLS)

    Xlife Sciences is a Swiss company focused as incubator and accelerator on the value development and commercialization of promising research projects from universities and other research institutions in the life sciences sector, with the aim of providing solutions for high unmet medical needs and a better quality of life. The goal is to bridge research and development to healthcare markets. Xlife Sciences takes carefully selected projects in the four areas of technological platforms, biotechnology/ therapies, medical technology, and artificial intelligence/digital health to the next stage of development and participates in their subsequent performance. For more information, visit https://www.xlifesciences.ch/en/home

    Participants In the Solicitation

    Voyager, VERAXA, and their respective directors, executive officers, other members of management and employees may be deemed participants in the solicitation of proxies from Voyager’s stockholders with respect to the Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of Voyager’s directors and officers in Voyager’s filings with the SEC, including, when filed with the SEC, the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, amendments and supplements thereto, and other documents filed with the SEC. Such information with respect to VERAXA’s directors and executive officers will also be included in the proxy statement/prospectus. You may obtain free copies of these documents as described below under the heading “Additional Information and Where to Find It”.

    Non-Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Voyager or VERAXA, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

    Forward-Looking Statements

    This press release includes certain statements that may be considered forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include, without limitation, statements about future events or Voyager’s or VERAXA’s future financial or operating performance. For example, statements regarding VERAXA’s anticipated growth and the anticipated growth and other metrics, statements regarding the benefits of the Business Combination, and the anticipated timing of the completion of the Business Combination are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology.

    These forward-looking statements regarding future events and the future results of Voyager and VERAXA are based on current expectations, estimates, forecasts, and projections about the industry in which VERAXA operates, as well as the beliefs and assumptions of Voyager’s management and VERAXA’s management. These forward-looking statements are only predictions and are subject to, without limitation, (i) known and unknown risks, including the risks and uncertainties indicated from time to time in the final prospectus of Voyager relating to its initial public offering filed with the SEC, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by Voyager; (ii) uncertainties; (iii) assumptions; and (v) other factors beyond Voyager’s or VERAXA’s control that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. They are neither statements of historical fact nor promises or guarantees of future performance. Therefore, VERAXA’s actual results may differ materially and adversely from those expressed or implied in any forward-looking statements and Voyager and VERAXA therefore caution against relying on any of these forward-looking statements.

    These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Voyager and its management, VERAXA and its management, as the case may be, are inherently uncertain and are inherently subject to risks, variability and contingencies, many of which are beyond Voyager’s or VERAXA’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement and any subsequent definitive agreements with respect to the Business Combination; (ii) the outcome of any legal proceedings that may be instituted against Voyager, VERAXA, or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (iii) the inability to complete the Business Combination due to the failure to obtain consents and approvals of the shareholders of Voyager, to obtain financing to complete the Business Combination or to satisfy other conditions to closing, or delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the transactions contemplated by the Business Combination Agreement; (iv) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (v) projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, and the estimated implied enterprise value of VERAXA; (vi) VERAXA’s ability to scale and grow its business, and the advantages and expected growth of VERAXA; (vii) VERAXA’s ability to source and retain talent, the cash position of VERAXA following closing of the Business Combination; (viii) the ability to meet stock exchange listing standards in connection with, and following, the consummation of the Business Combination; (ix) the risk that the Business Combination disrupts current plans and operations of VERAXA as a result of the announcement and consummation of the Business Combination; (x) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of VERAXA to grow and manage growth profitably, maintain key relationships and retain its management and key employees; (xi) costs related to the Business Combination; (xii) changes in applicable laws, regulations, political and economic developments; (xiii) the possibility that VERAXA may be adversely affected by other economic, business and/or competitive factors; (xiv) VERAXA’s estimates of expenses and profitability; (xv) the failure to realize estimated shareholder redemptions, purchase price and other adjustments; and (xvi) other risks and uncertainties set forth in the filings by Voyager with the SEC. There may be additional risks that neither Voyager nor VERAXA presently know or that Voyager and VERAXA currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Any forward-looking statements made by or on behalf of Voyager or VERAXA speak only as of the date they are made. None of Voyager or VERAXA undertakes any obligation to update any forward-looking statements to reflect any changes in their respective expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

    Additional Information and Where to Find It

    In connection with the Business Combination, Voyager and/or VERAXA intend to file relevant materials with the SEC, including the Registration Statement, which will include a proxy statement/prospectus of Voyager, and will file other documents regarding the proposed transaction with the SEC. This communication is not intended to be, and is not, a substitute for the proxy statement/prospectus or any other document that Voyager has filed or may file with the SEC in connection with the proposed transaction. When available, the definitive proxy statement and other relevant materials for the proposed transaction will be mailed or made available to stockholders of Voyager as of a record date to be established for voting on the proposed transaction.

    Before making any voting or investment decision, investors and stockholders of Voyager are urged to carefully read, when they become available, the entire registration statement, the proxy statement/prospectus, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, and the documents incorporated by reference therein, because they will contain important information about Voyager, VERAXA, and the proposed transaction. Voyager’s investors and stockholders and other interested persons will also be able to obtain copies of the registration statement, the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, other documents filed with the SEC that will be incorporated by reference therein, and all other relevant documents filed with the SEC by Voyager in connection with the Transaction, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to Voyager at the address set forth below.

    Contact

    The MIL Network –

  • MIL-OSI New Zealand: EMA – Northwest Busway will transform Auckland’s western suburbs

    Source: EMA

    The decision today by the NZ Transport Agency to endorse the Northwest Busway investment case is welcome news for West Auckland residents, says EMA’s Head of Advocacy, Alan McDonald.
    “We’ve seen the success of the Northern Busway in significantly reducing traffic on the Auckland Harbour Bridge,” he says.
    “There is no doubt that the Northwest Busway will have a similarly transformative impact on Auckland’s burgeoning north-western suburbs.”
    Today’s decision follows other significant infrastructure announcements by the government this week, including the preferred corridor for a four-lane connection over the Brynderwyn Hills to Whangārei, as well as the Tauriko four-laning and Takitimu North projects in Tauranga.
    “Together, these major roading projects will generate thousands of jobs and provide much needed work for the construction sector.”  

    MIL OSI New Zealand News –

  • MIL-Evening Report: Rather than short-term fixes, communities need flexible plans to prepare for a range of likely climate impacts

    Source: The Conversation (Au and NZ) – By Tom Logan, Senior Lecturer Above the Bar of Civil Systems Engineering, University of Canterbury

    Dave Rowland/Getty Images

    As New Zealanders clean up after ex-Cyclone Tam which left thousands without power and communities once again facing flooding, it’s tempting to seek immediate solutions.

    However, after the cleanup and initial recovery, careful planning is essential.

    Research shows that following disasters, communities often demand visible action that appears decisive. Yet, these reactions can create more problems than they solve.

    When high-impact weather events drive long-term policy decisions, we risk implementing changes that seem protective but actually increase the risk of future disasters or misallocate limited resources.

    What New Zealand needs isn’t knee-jerk actions but thoughtful planning that prepares communities before the next storms strike. Risk assessments paired with adaptive planning offer a path forward to build resilience step by step.

    Planning ahead with multiple options

    The good news is that many councils in New Zealand have begun this process and communities across the country are due to receive climate change risk assessments. These aren’t just technical documents showing hazard areas – they are tools that put power in the hands of communities.

    When communities have access to good information about which neighbourhoods, roads and infrastructure face potential risks, they can prioritise investments in protection, modify building practices where needed and, in some cases, plan for different futures. This knowledge creates options rather than fear.

    A risk assessment is merely the first step. Adaptation plans that translate knowledge into action are the next, but the Climate Change Commission recently confirmed there is a gap, concluding that:

    New Zealand is not adapting to climate change fast enough.

    For many New Zealanders already experiencing “rain anxiety” with each approaching storm, simply naming the danger without offering a path forward isn’t enough. This is where adaptive planning becomes essential.

    Adaptive planning isn’t about abandoning coastal towns tomorrow or spending billions on sea walls today. It is about having a plan A, B and C ready if or when nature forces our hand. Rather than demanding immediate, potentially costly actions, adaptive planning provides a roadmap with multiple pathways that adjust as climate conditions evolve. This is how we best manage complex risk.

    Think of it as setting up trip wires: when water reaches certain levels or storms hit certain frequencies, we already know our next move. This approach acknowledges the deep uncertainty of climate change while still providing communities with clarity about what happens next.

    Importantly, it builds in community consultation at each decision point, ensuring solutions reflect local values and priorities.

    Several communities are already considering plans that combine risk assessment with several adaptation options.
    Getty Images

    Success stories

    Several New Zealand communities are already demonstrating how this approach works. Christchurch recently approved an adaptation strategy for Whakaraupō Lyttelton Harbour with clear pathways based on trigger points rather than fixed timelines.

    In South Dunedin, where half of the city’s buildings currently face flood risks which are expected to worsen in coming decades, the city council has paired its risk assessment with seven potential adaptation futures, ranging from status quo to large-scale retreat. Rather than imposing solutions, they’re consulting residents about what they want for their neighbourhoods.

    Similarly forward-thinking, Buller District Council has developed a master plan that includes potentially relocating parts of Westport in the future. It’s a bold strategy that acknowledges reality rather than clinging to false security.

    Status quo feels safer than adaptation

    These approaches aren’t without controversy. At recent public meetings in Buller, some residents voiced understandable concerns about property values and community disruption. These reactions reflect the very real emotional and financial stakes for people whose homes are affected.

    Yet the alternative – continuing with the status quo – means flood victims are offered only the option to invest their insurance money wherever they like. This assumes insurance remains available, which is a misguided assumption as insurance retreat from climate-vulnerable properties accelerates.

    However, while local councils are on the front lines of adaptation planning, they’re being asked to make transformational decisions without adequate central government support. A recent Parliamentary select committee report failed to clarify who should pay for adaptation measures, despite acknowledging significant risks.

    Parliament continues to avoid the difficult questions, kicking the can further down the road while communities such as South Dunedin and Westport face immediate threats.

    Local councils need more than vague guidelines. They need clear direction on funding responsibilities, legislative powers and technical support. Without this support, even the most detailed risk assessments become exercises in documenting vulnerability rather than building resilience.

    Instead of demanding short-term fixes, residents should expect their councils to engage with these complex challenges. The best climate preparation isn’t about predicting exactly what will happen in 2100 or avoiding disaster. It is about building more resilient, cohesive communities that are prepared for whatever our changing climate brings.

    Tom Logan is a Rutherford Discovery Fellow and the chief technical officer of Urban Intelligence. He receives funding from the Ministry of Business, Innovation and Employment and EU Horizons on risk assessment. He is affiliated with the International Society for Risk Analysis.

    – ref. Rather than short-term fixes, communities need flexible plans to prepare for a range of likely climate impacts – https://theconversation.com/rather-than-short-term-fixes-communities-need-flexible-plans-to-prepare-for-a-range-of-likely-climate-impacts-254698

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Senators Peters, Young Introduce Bipartisan Legislation to Expand Research of Emerging Driver Assistance Systems and Improve Roadway Safety

    US Senate News:

    Source: United States Senator for Michigan Gary Peters

    WASHINGTON, DC – U.S. Senators Gary Peters (D-MI) and Todd Young (R-IN) introduced bipartisan legislation that would allow the National Highway Traffic Safety Administration (NHTSA) to expand its research of emerging driver assistance systems, helping to improve roadway safety for Americans.  

    Many vehicles on our roadways today are equipped with advanced driver assistance features, including collision warnings, automatic emergency braking, and lane keeping assistance. Through its Partnership for Analytics Research in Traffic Safety (PARTS) Program, NHTSA can access real-world data from vehicles equipped with these safety features and study their effectiveness. However, under current law, the PARTS Program is limited in the amount and type of safety data it can handle. The Vehicle Safety Research Act would codify the PARTS Program and unlock an expanded range of data collection and information sharing between automakers and the government that will help accelerate both deployment and oversight of advanced safety technologies. 

    “Millions of Americans depend on driver assistance systems every day, and we must ensure our highway safety experts are able to analyze how these emerging features improve roadway safety,” said Senator Peters. “This legislation would help support the development and deployment of the most innovative technologies found on our roadways today, which is essential to saving lives.” 

    “The PARTS Program is a public-private initiative that encourages the sharing of automobile safety-related data. By making this program permanent, our bill will support automobile safety efforts, including gaining insight into the benefits and opportunities of emerging advanced driver assistance systems,” said Senator Todd Young.

    “The Partnership for Analytics Research in Traffic Safety has been an important collaboration between automakers like Ford and NHTSA for many years. Investing in this public-private partnership plays an important role in keeping Americans safe in their communities,” said Emily Frascaroli, Global Director, Automotive Safety Office at Ford Motor Company. 

    “GM remains committed to the PARTS program and its industry-wide collaborative mission to support advanced driver assistance systems development,” said Regina Carto, Vice President of GM Global Product Safety, Systems and Certification. “Benchmark data from the program helps us all raise the bar in vehicle safety performance. We appreciate the leadership of Senator Peters and Senator Young on this important initiative.” 

    “Vehicles on the road continue to get even more safe as automakers test, develop and integrate breakthrough driver assistance and crash avoidance technologies like automatic emergency braking that help save lives and prevent injuries. Safety is a top priority for the auto industry – and the introduction of the Vehicle Safety Research Act to support NHTSA’s voluntary PARTS program shows it’s a top priority for Senators Peters and Young too,” said John Bozzella, President and CEO of the Alliance for Automotive Innovation. 

    “Accelerating advanced technology is a key pillar of the Road to Zero vision to eliminate serious injuries and fatalities from traffic crashes. The PARTS program has helped validate technology countermeasures in hundreds of vehicles used by the American public and with sustained support will be able to examine the safety benefits of connected vehicle technology. NSC supports the efforts of Senators Peters and Young to codify this important program within the United States Department of Transportation,” said Mark Chung, Executive Vice President, Safety Leadership & Advocacy, National Safety Council. 

    “AAA’s commitment to advocating for safer roads is a mission that began over 100 years ago. We support the Vehicle Safety Research Act, which aims to improve road safety by ensuring continued collaboration between automakers and NHTSA to share and analyze real-world driving data. This collaboration will deepen our understanding of how new vehicle technologies affect driver behavior and roadway safety. This work is critical to achieving our goal of preventing crashes and saving lives,” said AAA President and CEO Gene Boehm.

    The PARTS Program is a partnership between automakers and NHTSA in which participants voluntarily share safety-related data for collaborative safety analysis. Today, the program has access to data from 98 million vehicles, including 168 different vehicle models that would not have been possible without this public-private partnership.  

    The Vehicle Safety Research Act would ensure that this program continues and expands to new technologies and new types of safety data collection. It also provides for new protection for data shared exclusively through the PARTS program to ensure that any sensitive information related to these cutting-edge technologies is secure. 

    The automakers currently participating in the PARTS program include: Ford Motor Company, General Motors, Stellantis, American Honda Motor, Hyundai Motor North America, Mazda North American Operations, Mitsubishi Motors R&D of America, Subaru Corporation, Toyota Motor North America. 

    MIL OSI USA News –

  • MIL-OSI Russia: From physical education to French: the results of the All-Russian school Olympiad in five subjects have been summed up

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The results of the All-Russian School Olympiad (VsOSh) have been summed up in five more subjects. The final stages were held in Moscow, Samara, Ulyanovsk, Yakutsk and the federal territory of Sirius. Representatives of the capital’s team won diplomas in competitions in mathematics, ecology, physical education, law and French.

    “The final stage of the All-Russian School Olympiad, the country’s main intellectual competition, is underway. Muscovites received 49 winners’ diplomas and 309 prize winners’ diplomas in five subjects: mathematics, law, ecology, French, and physical education. The diplomas are valid for four years and entitle students to admission without exams to any Russian university in a specialty corresponding to the Olympiad profile, or 100 points on the Unified State Exam in a specialized subject,” the press service of the capital’s

    Department of Education and Science.

    The final competition in mathematics was held at the Sirius educational center and included two written rounds. The Moscow team received 76 diplomas of winners and prize winners, eight more than last year. The students solved problems in algebra, geometry, combinatorics, and probability theory.

    The final round on ecology took place in Ulyanovsk, with Moscow schoolchildren receiving 91 diplomas. This season, the capital’s team has 18 more diplomas than last year. During the theoretical round, the participants thought about how to make the work of nuclear and hydroelectric power plants more environmentally friendly, and also figured out how the living conditions of ancient organisms are related to the history of climate change on Earth. During the practical round, the schoolchildren wrote a paper on one of the proposed quotes and presented their own project.

    Anna Glazkova, a ninth-grader at School No. 1518 and the absolute winner of the All-Russian Olympiad in ecology, participated in the final round for the first time. She had already won the Moscow School Olympiad in ecology three times, but she could not even dream of a diploma from the All-Russian Olympiad – she was counting on the status of a prize winner at most. Anna prepared in any free moment: during breaks, on the way home from school, and her efforts were crowned with success.

    The participant noted that the most important thing for her was not so much the diploma, but the opportunity to meet people like her who strive to make life on Earth better.

    The finalists of the Physical Education Olympiad completed assignments in Yakutsk and won 49 awards, 15 more than last season. In the first round, schoolchildren answered questions about drill exercises and reorganizations, athletes during the Great Patriotic War. The second round, practical, consisted of four parts: gymnastics, sports games, applied physical education, and track and field.

    The final competition in law was held in Moscow at the Peoples’ Friendship University of Russia. Schoolchildren competed in three rounds and received 103 diplomas of winners and prize winners. This is 42 awards more than in the previous final. They completed test assignments on knowledge of forensics, the tax system, studied sales contracts, and calculated the deadlines for filing an appeal in criminal proceedings. In addition, the children had to guess the author and title of a work from an excerpt, as well as present their own oral presentation.

    Erika Chugbar, a ninth-grader at School No. 57 and the absolute winner of the All-Russian Olympiad of Schoolchildren, believes that the secret to success is combining studies and hobbies. This gives her the opportunity to take a break and diversify her activities. She studies cello at a music school, and when she gets tired of one task, Erika starts another. At the closing ceremony, the girl performed the composition “Merry Wind” together with the mother of her teammate. It turned out to be a cello and piano duet.

    This season, the Law Olympiad has undergone changes. The oral round has become more important. The winner believes that it is important for a lawyer not only to be well-read, but also to be able to present their ideas and communicate with the public.

    Experts in French solved the tasks of the Olympiad in Samara. The Moscow team has 39 awards. Young Muscovites repeated the result of last year. Schoolchildren had two rounds of the competition. The children had to cope with tasks on knowledge of vocabulary and grammar, and also prepare an oral presentation.

    Responsible for the preparation of the capital’s team Center for Teaching Excellence Department of Education and Science of the City of Moscow. Classes, which last throughout the school year, are taught by experienced teachers. On the eve of the final stage for each subject, schoolchildren undergo intensive training. They solve assignments from previous years, attend lectures and practical seminars.

    Until the end of May, everyone will be able to try their hand at the All-Russian School Olympiad: the Moscow Electronic School platform is hosting invitational stage. It allows you to get acquainted with the format of the tasks and choose items for participation in the main season.

    Ensuring high-quality preparation of Moscow schoolchildren for the Olympiads corresponds to the objectives of the project “All the best for children” of the national project “Youth and Children”.

    Sergei Sobyanin wished Muscovites victory at the All-Russian School Olympiad

    Get the latest news quicklyofficial telegram channel the city of Moscow.

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/153020073/

    MIL OSI Russia News –