NewzIntel.com

Category: Russian Federation

  • MIL-OSI Russia: Comment: Dialogue and mutual benefit are the key to long-term stability in China-US trade relations

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — The two sides had a frank, in-depth and constructive exchange of views on major topics of common interest during the latest round of China-U.S. economic and trade talks in Stockholm from Monday to Tuesday, sending a clear signal that the world’s two largest economies remain committed to dialogue, resolving differences and strengthening global stability.

    Based on the consensus reached during the talks, the parties will continue to promote a 90-day extension of the pause in the 24 percent mirror tariffs of the US side and the countermeasures of the Chinese side.

    The progress achieved in the talks once again demonstrates that as long as both sides follow the important consensus reached by the two heads of state and adhere to the principle of equal dialogue and consultation, they can effectively resolve differences, enhance mutual trust and push bilateral economic and trade relations in a healthy, stable and sustainable direction.

    During the talks, the Chinese side emphasized that the essence of Chinese-American trade and economic relations is mutual benefit. China and the United States benefit from cooperation and lose from confrontation. The American side also stated that stable trade and economic relations between Washington and Beijing are of great importance for the economies of both countries and the world as a whole.

    This shared awareness has become a key foundation for both sides to come together, engage in constructive dialogue and make tangible progress.

    For decades, the two largest economies have been deeply integrated, with broad common interests and enormous potential for cooperation in trade and economic matters. Such strong economic complementarity cannot be easily destroyed by any artificial tariff barriers.

    China approaches the consultations with 100 percent sincerity, firmly adhering to its principles without compromise, and consistently emphasizing the need to respect each other’s core interests. China’s position on the mirror tariffs unilaterally imposed by the United States is clear and consistent: they are essentially acts of unilateralism and protectionism that violate the rules of the World Trade Organization.

    China is willing to properly resolve differences and find solutions through dialogue and consultation. However, such dialogue must take place on an equal basis. China’s right to development is inalienable, and its determination to safeguard its core interests and development rights remains unwavering. Any attempt to pressure China to make concessions on fundamental issues is unrealistic.

    Some of the deeper problems in China-US trade and economic relations are difficult to resolve overnight, but progress begins with concrete steps. /The Chinese side/ hopes that Washington will move in the same direction as Beijing, implementing the important consensus reached by the two heads of state and the positive momentum gained from the talks.

    In this way, both sides can contribute to stabilizing their economic ties, strengthening mutual trust, reducing misjudgments, deepening cooperation, and quickly returning bilateral relations to the track of healthy and sustainable development. –0–

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

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    MIL OSI Russia News –

  • MIL-OSI Russia: 43 killed in Nepal monsoon disasters

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    KATHMANDU, July 31 (Xinhua) — Nepal has seen 43 people killed and 116 injured since the monsoon season began in late May, the National Disaster Risk Reduction and Management Authority said.

    According to a report released by the department on Wednesday evening, 16 people were missing in 569 monsoon-related disasters.

    Floods were the deadliest, killing 15 people and injuring seven others. Lightning strikes were next, killing 14 and injuring 95. Landslides were the third deadliest natural disaster, killing 14 people.

    The monsoon season in Nepal usually lasts until early October. –0–

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

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    MIL OSI Russia News –

  • MIL-OSI Russia: The number of visitors to the Chinese pavilion at Expo 2025 in Osaka has exceeded 1 million people.

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    TOKYO, July 31 (Xinhua) — A welcoming ceremony for the one millionth visitor, a Japanese family, was held at the China Pavilion at the World Expo 2025 Osaka on Wednesday.

    Upon entering the pavilion, Teruwa Asakawa and his family were greeted by the words “Welcome to the millionth visitor to the China Pavilion” displayed on a large screen. The family was presented with a panda doll and other souvenirs.

    The Asakawas said they were honored to be the millionth visitor. They praised the beautiful appearance of the pavilion and the variety of exhibits, saying that it “allowed us to deeply feel China’s rich historical and cultural heritage.”

    Zhang Shujing, director of the China Pavilion, told Xinhua that since the opening of Expo 2025, the China Pavilion has consistently been one of the most popular. Welcoming the millionth visitor is an important moment worth celebrating, he said.

    The exhibition runs from April 13 to October 13. The Chinese pavilion occupies an area of about 3.5 thousand square meters and is one of the largest foreign pavilions built by China itself. –0–

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

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    MIL OSI Russia News –

  • MIL-OSI Russia: The text of Xi Jinping’s speech at the All-China Conference on Ecology and Environment Protection will be published in the journal “Qiushi”

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — The text of the speech delivered by Xi Jinping, general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, at the National Conference on Ecology and Environment Protection on July 17, 2023, will be published in the 15th issue of Qiushi, a leading journal of the CPC Central Committee, on Friday.

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

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    MIL OSI Russia News –

  • MIL-OSI Russia: During the 14th Five-Year Plan in the PRC, 250 thousand demobilized officers and soldiers found work

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — China has employed 250,000 demobilized officers and soldiers during the 14th Five-Year Plan period (2021-2025), and the quality and efficiency of work in this area have improved significantly, Vice Minister of Veterans Affairs Xu Yao said Thursday.

    Veterans are playing an increasingly important role in the country’s socio-economic development, he said at a press conference on Thursday.

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

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    MIL OSI Russia News –

  • MIL-Evening Report: Espionage cost Australia $12.5 billion in 2023-24, ASIO boss Mike Burgess says

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Espionage cost Australia $12.5 billion in 2023-24, according to a study by ASIO and the Australian Institute of Criminology.

    The figure includes the direct costs of known espionage incidents, including state-sponsored theft of intellectual property, as well as the indirect costs of countering and responding.

    Details of the Cost of Espionage report were released by the head of ASIO, Mike Burgess, in delivering the annual Hawke Lecture on Thursday night. Espionage is defined as “the theft of Australian information by another country that is seeking an advantage over Australia”.

    Burgess said the Institute estimated foreign cyber spies stole nearly $2 billion from Australian companies and businesses in trade secrets and intellectual property in 2023-24.

    In one instance, spies hacked into a major Australian exporters computer network, stealing commercially sensitive information.

    “The theft gave the foreign country a significant advantage in subsequent contract negotiations, costing Australia hundreds of millions of dollars.”

    Burgess pointed to another espionage incident several years ago when an overseas delegation visited a sensitive Australian horticultural facility.

    A delegation member entered a restricted area and photographed a rare, valuable variety of fruit tree. A staff member intervened and deleted the image but it later turned out several of the tree’s branches had been stolen and smuggled out of Australia.

    “Almost certainly, the stolen plant material allowed scientists in the other country to reverse engineer and replicate two decades of Australian research and development.”

    In another instance, an Australian defence contractor invented and sold a world-leading innovation.

    At first sales boomed but then they collapsed, and “customers began flooding the company’s repair centre with faulty products. While the returns looked genuine, closer examination revealed they were cheap and nasty knock offs.

    “An investigation uncovered what happened.

    “One year earlier, a company representative attended a defence industry event overseas and was approached by an enthusiastic local. She insisted on sharing some content via a USB, which was inserted into a company laptop. The USB infected the system with malware allowing hackers to steal the blueprints for the product.

    “Almost certainly, the ‘enthusiastic local’ worked for a foreign intelligence service. The blueprints were given to a state-owned enterprise which mass-produced the knock-offs and deprived the Australian company millions of dollars in lost revenue – the tangible cost of espionage.”

    Burgess said many entities do not realise their secrets have been stolen by espionage.

    He stressed the institute was deliberately conservative, only modelling costs it could confirm and calculate.

    “That means many of the most serious, significant and cascading costs of espionage are not included in the 12.5 billion dollar figure. The potential loss of strategic advantage, sovereign decision-making and warfighting capacity hold immense value, but not a quantifiable dollar value.”

    “The Institute estimates Australia prevented tens of billions of dollars of additional costs by stopping or deterring spying,” Burgess said.

    He said ASIO estimated the espionage threat “will only intensify. It is already more serious and sophisticated than ever before, so our response must also be more serious and sophisticated than ever before.”

    Russian spies booted out in 2022

    Burgess confirmed that in 2022 a number of “undeclared Russian intelligence officers” were removed from Australia.

    “The decision followed a lengthy ASIO investigation that found the Russians recruiting proxies and agents to obtain sensitive information, and employing sophisticated tradecraft to disguise their activities.”

    Last year, two Russian born Australian citizens were charged with an espionage related offence.

    Russian remained a persistent and aggressive espionage threat, Burgess said. “But Russia is by no means the only country we have to deal with.

    “You would be genuinely shocked by the number and names of countries trying to steal our secrets.

    “The obvious candidates are very active – I’ve previously named China, Russia and Iran – but many other countries are also targeting anyone and anything that could give them a strategic or tactical advantage, including sensitive but unclassified information.”

    Burgess said increasingly foreign intelligence services were broadening their collection efforts beyond traditional categories. They were aggressively targeting science and technology, and public and private sector projects, negotiations and investments. This includes Antarctic research, green technology, critical minerals and rare earths extraction and processing.

    ‘A very unhealthy’ interest in AUKUS

    Burgess said foreign intelligence services were “taking a very unhealthy interest in AUKUS and its associated capabilities.”

    “Australia’s defence sector is a top intelligence collection priority for foreign governments seeking to blunt our operational edge, gain insights into our operational readiness and tactics, and better understand our allies’ capabilities.

    “Targets include maritime and aviation-related military capabilities, but also innovations with both commercial and military applications.

    “And with AUKUS, we are not just defending our sovereign capability. We are also defending critical capability shared by and with our partners.”

    He said foreign intelligence services were “proactive, creative and opportunistic” in targeting present and former defence employees.

    There was relentless cyber espionage, in-person targeting and technical collection.

    “In recent years, for example, defence employees travelling overseas have been subjected to covert room searches, been approached at conferences by spies in disguise and given gifts containing surveillance devices.”

    Two dozen major disruptions in the last three years

    Burgess said that ASIO had detected and disrupted 24 major cases of foreign interference in the last three years alone.

    This was more than in the previous eight years combined. They were just the major disruptions – there were many other cases. Among the examples he gave were:

    • spies recruited a security clearance holder who handed over official documents on free trade negotiations

    • foreign companies connected to intelligence services sought to buy access to personal data sets; sought to buy land near sensitive military sites, and sought to collaborate with researchers developing sensitive technologies

    • foreign intelligence services tried to get someone employed as a researcher in a media outlet, aiming to shape reporting and receive early warning of critical stories

    • spies convinced a state bureaucrat to login to a database to obtain details of people considered dissidents by a foreign regime

    • nation state hackers compromised a peak industry body’s network getting sensitive information

    • a foreign intelligence service had multiple agents and their family members apply for Australian government jobs to get access to classified information.

    Michelle Grattan 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. Espionage cost Australia $12.5 billion in 2023-24, ASIO boss Mike Burgess says – https://theconversation.com/espionage-cost-australia-12-5-billion-in-2023-24-asio-boss-mike-burgess-says-262349

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Europe: Written question – Legal risks of EU proposal to ban Russian natural gas imports – E-003014/2025

    Source: European Parliament

    Question for written answer  E-003014/2025
    to the Commission
    Rule 144
    Fabio De Masi (NI)

    According to the Oxford Institute for Energy Studies, the proposal for a regulation on phasing out Russian natural gas imports, improving the monitoring of potential energy dependencies and amending Regulation (EU) 2017/1938 raises unresolved legal issues that ‘place a significant burden on importers and other stakeholders, while risking regulatory overreach […] thus potentially increasing costs and preventing legitimate gas imports’. The analysts also argue that the amendment of the rules creates legal uncertainty, in particular as regards the application of force majeure clauses and contract termination. The proposal does not guarantee that an import ban will be recognised as a case of force majeure under the relevant contract, leaving buyers exposed to potential claims for compensation or ongoing obligations under long-term Russian gas and LNG contracts, even if the EU ban is in place.

    How will the European Commission take account of the criticism of the Oxford Institute for Energy Studies[1] that the proposal to phase out Russian gas imports creates legal uncertainties and exposes importers to possible claims for compensation?

    Submitted: 19.7.2025

    • [1] https://www.oxfordenergy.org/wpcms/wp-content/uploads/2025/07/The-EU-Proposal-To-Ban-Russian-Gas-Imports-roadblock-more-than-roadmap-NG-199.pdf
    Last updated: 31 July 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – EU financing for the fact-checking company Check First – P-003079/2025

    Source: European Parliament

    Priority question for written answer  P-003079/2025
    to the Commission
    Rule 144
    Isabella Tovaglieri (PfE)

    The Commission said that Putin’s Russia may have been behind the motion of censure against President von der Leyen. According to Commission spokesperson Thomas Reigner, the motion was part of Moscow’s plans, and independent fact-checkers have confirmed that fact[1].

    One of the fact-checkers that the Commission explicitly refers to is Check First. However, that company appears to receive direct funding from the European Union, which is also visible on their page[2].

    Specifically, it is receiving EU funds for the Crossover and OKSA projects[3], financed by means of EU funds, and is part of the European Fact-Checking Standards Network, which is also co-financed through EU programmes to fight disinformation[4].

    In the light of the above:

    • 1.What is the exact amount of EU funds received by Check First through calls or financing?
    • 2.Give its participation in the aforementioned EU programmes, can this company be regarded as an ‘independent’ fact-checker when it comes to judging a political entity (including the EU)?

    Submitted: 24.7.2025

    • [1] https://europa.today.it/unione-europea/mosca-dietro-mozione-sfiducia-von-der-leyen.html.
    • [2] https://checkfirst.network/about-us/?utm_source=chatgpt.com.
    • [3] https://checkfirst.network/2-years-of-checkfirst/?utm_source=chatgpt.com.
    • [4] https://enlargement.ec.europa.eu/news/commission-launches-eu5-million-call-strengthen-european-fact-checking-network-2025-05-27_en?utm_source=chatgpt.com.
    Last updated: 31 July 2025

    MIL OSI Europe News –

  • MIL-OSI: Radware Report Reveals Shifting Attack Vectors in Credential Stuffing Campaigns

    Source: GlobeNewswire (MIL-OSI)

    MAHWAH, N.J., July 31, 2025 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today released a new research report—The Invisible Breach: Business Logic Manipulation and API Exploitation in Credential Stuffing Attacks. The report reveals a paradigm shift in credential stuffing attacks. It underscores a fundamental transformation from volume-based attacks leveraging a series of repeated password attempts to sophisticated, multi-stage infiltration techniques.

    “To bypass traditional defenses, modern credential stuffing attacks are shifting away from traditional password-spraying techniques in favor of business logic manipulation, cross-platform device spoofing, and strategic API exploitation,” said Arik Atar, senior cyber threat intelligence researcher at Radware. “The message for defending organizations is clear. To match this new reality, they must move beyond credential-centric controls to adopt security strategies that validate entire user journeys, correlate cross-request behavior, and detect suspicious patterns in business logic flows.”

    Radware’s research examined 100 advanced credential stuffing configurations deployed through a well-known account takeover tool called SilverBullet.

    Advanced attack methodologies

    • Business logic attacks: 94% of configurations implement four or more business logic attack elements, with 54% demonstrating advanced orchestration, using 13+ distinct techniques.
    • API exploitation: 83% of configurations contain explicit API-targeting techniques.
    • Multi-device spoofing: 24% of attack scripts alternate between two device types during execution, with 71% employing cross-platform transitions, primarily between iOS and Windows.

    Primary targets

    • Industries: Technology/SaaS emerged as the primary target sector (27%), followed by financial services/government (16%), and the travel/airline (13%) sectors.
    • Online tools: There is a significant shift toward high-value AI tools (44% of all technology targets), potentially exploited by spammers who engage in account cracking to create large-scale phishing content. In addition, corporate tools (30%), including Microsoft 365, OneDrive, and Outlook, are likely targets for ransomware groups pursuing initial access to organizational systems.

    Centralized threat landscape

    • Concentration: 51% of the analyzed configurations, randomly collected over six months, were written by just three advanced threat actors: SVBCONFIGSMAKER, t.me/mrcombo1services, and @Magic_Ckg.
    • Specialization: Each threat actor had over two years of operational experience in distinct areas of specialization, including AI platform authentication bypass, mobile API exploitation, and Microsoft cloud services.

    Radware’s complete report—The Invisible Breach: Business Logic Manipulation and API Exploitation in Credential Stuffing Attacks—can be downloaded here.

    The research methodology was based on an analysis of 100 SilverBullet credential stuffing attack scripts to identify emerging trends, techniques, and tactics in modern account takeover (ATO) campaigns. The scripts were collected from Telegram channels of threat actors and published between December 2024 and May 2025.

    About Radware
    Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

    Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, X, and YouTube.

    ©2025 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

    THIS PRESS RELEASE AND RADWARE’S THE INVISIBLE BREACH: BUSINESS LOGIC MANIPULATION AND API EXPLOITATION IN CREDENTIAL STUFFING ATTACKS REPORT ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY. THESE MATERIALS ARE NOT INTENDED TO BE AN INDICATOR OF RADWARE’S BUSINESS PERFORMANCE OR OPERATING RESULTS FOR ANY PRIOR, CURRENT, OR FUTURE PERIOD.

    Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

    The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

    Safe Harbor Statement
    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” For example, when we say in this press release that to match this new reality, organizations must move beyond credential-centric controls to adopt security strategies that validate entire user journeys, correlate cross-request behavior, and detect suspicious patterns in business logic flows, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, tensions between China and Taiwan, financial and credit market fluctuations (including elevated interest rates), impacts from tariffs or other trade restrictions, inflation, and the potential for regional or global recessions; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cybersecurity and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, or if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; our use of AI technologies that present regulatory, litigation, and reputational risks; risks related to the fact that our products must interoperate with operating systems, software applications and hardware that are developed by others; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns; our net losses in the past and the possibility that we may incur losses in the future; a slowdown in the growth of the cybersecurity and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; complications with the design or implementation of our new enterprise resource planning (“ERP”) system; our reliance on information technology systems; our ESG disclosures and initiatives; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

    The MIL Network –

  • MIL-OSI: WTW Reports Second Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    • Revenue1of $2.3 billion was flat compared to prior-year quarter due to the sale of TRANZACT
    • Organic Revenue growth of 5% for the quarter
    • Diluted Earnings per Share was $3.32 for the quarter, up 144% over prior year
    • Adjusted Diluted Earnings per Share was $2.86 for the quarter, up 20% over prior year2
    • Operating Margin was 16.3% for the quarter, up 690 basis points over prior year
    • Adjusted Operating Margin was 18.5% for the quarter, up 150 basis points from prior year

    LONDON, July 31, 2025 (GLOBE NEWSWIRE) — WTW (NASDAQ: WTW) (the “Company”), a leading global advisory, broking and solutions company, today announced financial results for the second quarter ended June 30, 2025.

    “Our strong second quarter results demonstrate the meaningful progress we’ve made towards advancing our strategy, helping deliver solid topline results, along with margin and earnings growth,” said Carl Hess, WTW’s Chief Executive Officer. “I’m pleased with how our businesses continued to prove their value and resilience this quarter, providing our clients with critical solutions to help manage people, risk and capital amidst economic uncertainty. Building on our strong first-half performance and continued momentum, we enter the second half of 2025 on track to deliver on our financial framework, including mid-single digit organic revenue growth, operating margin expansion, adjusted earnings per share growth, and free-cash-flow margin expansion. I’d like to thank our colleagues for their consistent execution and dedication to delivering for our clients.”

    Consolidated Results

    As reported, USD millions, except %

    Key Metrics Q2-25 Q2-242 Y/Y Change
    Revenue1 $2,261 $2,265 Reported (0)% | CC (1)% | Organic 5%
    Income from Operations $368 $212 74%
    Operating Margin % 16.3% 9.4% 690 bps
    Adjusted Operating Income $419 $385 9%
    Adjusted Operating Margin % 18.5% 17.0% 150 bps
    Net Income $332 $142 134%
    Adjusted Net Income $285 $247 15%
    Diluted EPS $3.32 $1.36 144%
    Adjusted Diluted EPS $2.86 $2.39 20%
    1 The revenue amounts included in this release are presented on a U.S. GAAP basis except where stated otherwise. The segment discussion is on an organic basis.
       
    2 Refer to “WTW Non-GAAP Measures” below and the Q2-25 Supplemental Slides for recast of historical Non-GAAP measures.
       

    Revenue was $2.26 billion for the second quarter of 2025, which was flat compared to $2.27 billion for the same period in the prior year due to the sale of TRANZACT. Excluding the impact of foreign currency, revenue decreased 1%. On an organic basis, revenue increased 5%. See Supplemental Segment Information for additional detail on book-of-business settlements and interest income included in revenue.

    Net Income for the second quarter of 2025 was $332 million compared to Net Income of $142 million in the prior-year second quarter. Adjusted EBITDA for the second quarter was $470 million, or 20.8% of revenue, an increase of 6%, compared to Adjusted EBITDA of $445 million, or 19.6% of revenue, in the prior-year second quarter. The U.S. GAAP tax rate for the second quarter was (6.8)%, and the adjusted income tax rate for the second quarter used in calculating adjusted diluted earnings per share was 18.0%.

    Cash Flow and Capital Allocation

    Cash flows from operating activities were $326 million for the six months ended June 30, 2025, compared to cash flows from operating activities of $431 million for the same prior-year period. Free cash flow for the six months ended June 30, 2025 and 2024 was $217 million and $305 million, respectively, a decrease of $88 million. The decline was primarily due to increased compensation and cash tax payments as well as the absence of cash inflows from TRANZACT following its sale on December 31, 2024, partly offset by lower Transformation program spending and operational improvements. During the quarter ended June 30, 2025, the Company repurchased 1,614,427 of its outstanding shares for $500 million.

    Second Quarter 2025 Segment Highlights

    Health, Wealth & Career (“HWC”)

    As reported, USD millions, except %

    Health, Wealth & Career Q2-25 Q2-24 Y/Y Change
    Total Revenue $1,180 $1,260 Reported (6)% | CC (8)% | Organic 4%
    Operating Income $280 $276 1%
    Operating Margin % 23.8% 21.9% 190 bps

    The HWC segment had revenue of $1.18 billion in the second quarter of 2025, a decrease of 6% (8% decrease constant currency and organic growth of 4%) from $1.26 billion in the prior year due to the sale of TRANZACT. Health delivered organic revenue growth driven by double-digit increases outside North America and solid performance in North America. Wealth generated organic revenue growth from higher levels of Retirement work globally alongside growth in our Investments business from new business wins and product launches. Career had modest revenue growth as healthy demand for advisory project work outside North America was offset by North America client postponement decisions made earlier in the year. Benefits Delivery & Outsourcing revenue was materially flat, as increased project and core administration work within Europe was tempered by lower commission revenue in the Individual Marketplace business compared to the prior year.

    Operating margins in the HWC segment increased 190 basis points from the prior-year second quarter to 23.8%, primarily due to the sale of TRANZACT. Excluding TRANZACT operating margins increased 20 basis points. Please refer to the Supplemental Slides for TRANZACT’s standalone historical financial results.

    Risk & Broking (“R&B”)

    As reported, USD millions, except %

    Risk & Broking Q2-25 Q2-24 Y/Y Change
    Total Revenue $1,047 $979 Reported 7% | CC 6% | Organic 6%
    Operating Income $222 $202 10%
    Operating Margin % 21.2% 20.6% 60 bps

    The R&B segment had revenue of $1.05 billion in the second quarter of 2025, an increase of 7% (6% increase constant currency and organic) from $979 million in the prior year. Corporate Risk & Broking (CRB) had organic revenue growth driven by higher levels of new business activity and strong client retention globally. Insurance Consulting and Technology (ICT) revenue was flat for the quarter as clients managed spend more cautiously amid ongoing economic uncertainty.

    Operating margins in the R&B segment increased 60 basis points from the prior-year second quarter to 21.2%, due primarily to operating leverage driven by strong organic revenue growth and savings from the Transformation program which were partially offset by headwinds from decreased interest income and foreign currency fluctuations.

    Select 2025 Financial Considerations

    Changes to Non-GAAP financial measures:

    • All reported non-GAAP metrics will exclude non-cash net periodic pension and postretirement benefits
    • Free cash flow and free cash flow margin will capture cash outflows for capitalized software costs
    • Refer to Supplemental Slides for recast of historical Non-GAAP measures

    Business mix:

    • TRANZACT business, which contributed $1.14 to adjusted diluted earnings per share in 2024, is no longer part of the business portfolio following the completion of the TRANZACT sale in the fourth quarter of 2024
    • Reinsurance joint venture with Bain Capital expected to be a headwind on adjusted diluted earnings per share of approximately $0.20, which will be partially mitigated by gains from other equity investments, resulting in a net headwind of approximately $0.10 at the interest in earnings of associates level

    Free cash flow:

    • Expect cash outflows in 2025 from the payment of accrued costs related to the Transformation program which concluded in 2024

    Capital allocation:

    • Expect share repurchases of ~$1.5 billion, subject to market conditions and potential capital allocation to organic and inorganic investment opportunities

    Foreign exchange:

    • Expect a foreign currency tailwind on adjusted diluted earnings per share of approximately $0.05 in 2025 at today’s rates

    Adjusted operating margin outlook:

    • ~100 basis points of average annual margin expansion over next 3 years in R&B
    • Incremental annual margin expansion at HWC and enterprise levels

    The 2025 Financial Considerations above include Non-GAAP financial measures. We do not reconcile forward-looking Non-GAAP measures for reasons explained under “WTW Non-GAAP Measures” below.

    Conference Call

    The Company will host a conference call to discuss the financial results for the second quarter 2025. It will be held on Thursday, July 31, 2025, beginning at 9:00 a.m. Eastern Time. A live, listen-only webcast of the conference call will be available on WTW’s website. Analysts and institutional investors may participate in the conference call’s question-and-answer session by registering in advance here. An online replay will be available at investors.wtwco.com shortly after the call concludes.

    About WTW

    At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at www.wtwco.com.

    WTW Non-GAAP Measures

    In order to assist readers of our consolidated financial statements in understanding the core operating results that WTW’s management uses to evaluate the business and for financial planning, we present the following non-GAAP measures: (1) Constant Currency Change, (2) Organic Change, (3) Adjusted Operating Income/Margin, (4) Adjusted EBITDA/Margin, (5) Adjusted Net Income, (6) Adjusted Diluted Earnings Per Share, (7) Adjusted Income Before Taxes, (8) Adjusted Income Taxes/Tax Rate, (9) Free Cash Flow and (10) Free Cash Flow Margin.

    We believe that those measures are relevant and provide pertinent information widely used by analysts, investors and other interested parties in our industry to provide a baseline for evaluating and comparing our operating performance, and in the case of free cash flow, our liquidity results.

    Within the measures referred to as ‘adjusted’, we adjust for significant items which will not be settled in cash, or which we believe to be items that are not core to our current or future operations. Some of these items may not be applicable for the current quarter, however they may be part of our full-year results. Additionally, we have historically adjusted for certain items which are not described below, but for which we may adjust in a future period when applicable. Items applicable to the quarter or full year results, or the comparable periods, include the following:

    • Restructuring costs and transaction and transformation – Management believes it is appropriate to adjust for restructuring costs and transaction and transformation when they relate to a specific significant program with a defined set of activities and costs that are not expected to continue beyond a defined period of time, or significant acquisition-related transaction expenses. We believe the adjustment is necessary to present how the Company is performing, both now and in the future when the incurrence of these costs will have concluded.
    • Provisions for specified litigation matters – We will include provisions for litigation matters which we believe are not representative of our core business operations. Among other things, we determine this by reference to the amount of the loss (net of insurance and other recovery receivables) and by reference to whether the matter relates to an unusual and complex scenario that is not expected to be repeated as part of our ongoing, ordinary business. These amounts are presented net of insurance and other recovery receivables. See the footnotes to the reconciliation tables below for more specificity on the litigation matter excluded from adjusted results.
    • Gains and losses on disposals of operations – Adjustment to remove the gains or losses resulting from disposed operations that have not been classified as discontinued operations.
    • Net periodic pension and postretirement benefits – Adjustment to remove the recognition of net periodic pension and postretirement benefits (including pension settlements), other than service costs. We have included this adjustment as applicable in our prior-period disclosures in order to conform to the current-period presentation.
    • Tax effect of significant adjustments – Relates to the incremental tax expense or benefit resulting from significant or unusual events including significant statutory tax rate changes enacted in material jurisdictions in which we operate, internal reorganizations of ownership of certain businesses that reduced the investment held by our U.S.-controlled subsidiaries and the recovery of certain refunds or payment of taxes related to businesses in which we no longer participate.

    We evaluate our revenue on an as reported (U.S. GAAP), constant currency and organic basis. We believe presenting constant currency and organic information provides valuable supplemental information regarding our comparable results, consistent with how we evaluate our performance internally.

    We consider Constant Currency Change, Organic Change, Adjusted Operating Income/Margin, Adjusted EBITDA/Margin, Adjusted Net Income, Adjusted Diluted Earnings Per Share, Adjusted Income Before Taxes, Adjusted Income Taxes/Tax Rate and Free Cash Flow to be important financial measures, which are used to internally evaluate and assess our core operations and to benchmark our operating and liquidity results against our competitors. These non-GAAP measures are important in illustrating what our comparable operating and liquidity results would have been had we not incurred transaction-related and non-recurring items. Reconciliations of these measures are included in the accompanying tables with the following exception: The Company does not reconcile its forward-looking non-GAAP financial measures to the corresponding U.S. GAAP measures, due to variability and difficulty in making accurate forecasts and projections and/or certain information not being ascertainable or accessible; and because not all of the information, such as foreign currency impacts necessary for a quantitative reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable U.S. GAAP financial measure, is available to the Company without unreasonable efforts. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The Company provides non-GAAP financial measures that it believes will be achieved, however it cannot accurately predict all of the components of the adjusted calculations and the U.S. GAAP measures may be materially different than the non-GAAP measures.

    Our non-GAAP measures and their accompanying definitions are presented as follows:

    Constant Currency Change – Represents the year-over-year change in revenue excluding the impact of foreign currency fluctuations. To calculate this impact, the prior year local currency results are first translated using the current year monthly average exchange rates. The change is calculated by comparing the prior year revenue, translated at the current year monthly average exchange rates, to the current year as reported revenue, for the same period. We believe constant currency measures provide useful information to investors because they provide transparency to performance by excluding the effects that foreign currency exchange rate fluctuations have on period-over-period comparability given volatility in foreign currency exchange markets.

    Organic Change – Excludes the impact of fluctuations in foreign currency exchange rates, as described above and the period-over-period impact of acquisitions and divestitures on current-year revenue. We believe that excluding transaction-related items from our U.S. GAAP financial measures provides useful supplemental information to our investors, and it is important in illustrating what our core operating results would have been had we not included these transaction-related items, since the nature, size and number of these transaction-related items can vary from period to period.

    Adjusted Operating Income/Margin – Income from operations adjusted for amortization, restructuring costs, transaction and transformation and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results. Adjusted operating income margin is calculated by dividing adjusted operating income by revenue. We consider adjusted operating income/margin to be important financial measures, which are used internally to evaluate and assess our core operations and to benchmark our operating results against our competitors.

    Adjusted EBITDA/Margin – Net Income adjusted for provision for income taxes, interest expense, depreciation and amortization, restructuring costs, transaction and transformation, gains and losses on disposals of operations, net periodic pension and postretirement benefits, and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results. Adjusted EBITDA Margin is calculated by dividing adjusted EBITDA by revenue. We consider adjusted EBITDA/margin to be important financial measures, which are used internally to evaluate and assess our core operations, to benchmark our operating results against our competitors and to evaluate and measure our performance-based compensation plans.

    Adjusted Net Income – Net Income Attributable to WTW adjusted for amortization, restructuring costs, transaction and transformation, gains and losses on disposals of operations, net periodic pension and postretirement benefits, and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results and the related tax effect of those adjustments and the tax effects of internal reorganizations. This measure is used solely for the purpose of calculating adjusted diluted earnings per share.

    Adjusted Diluted Earnings Per Share – Adjusted Net Income divided by the weighted-average number of ordinary shares, diluted. Adjusted diluted earnings per share is used to internally evaluate and assess our core operations and to benchmark our operating results against our competitors.

    Adjusted Income Before Taxes – Income from operations before income taxes and interest in earnings of associates adjusted for amortization, restructuring costs, transaction and transformation, gains and losses on disposals of operations, net periodic pension and postretirement benefits, and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results. Adjusted income before taxes is used solely for the purpose of calculating the adjusted income tax rate.

    Adjusted Income Taxes/Tax Rate – Provision for income taxes adjusted for taxes on certain items of amortization, restructuring costs, transaction and transformation, gains and losses on disposals of operations, net periodic pension and postretirement benefits, the tax effects of significant adjustments and non-recurring items that, in management’s judgment, significantly affect the period-over-period assessment of operating results, divided by adjusted income before taxes. Adjusted income taxes is used solely for the purpose of calculating the adjusted income tax rate. Management believes that the adjusted income tax rate presents a rate that is more closely aligned to the rate that we would incur if not for the reduction of pre-tax income for the adjusted items and the tax effects of internal reorganizations, which are not core to our current and future operations.

    Free Cash Flow – Cash flows from operating activities less cash used to purchase fixed assets and software. Free Cash Flow is a liquidity measure and is not meant to represent residual cash flow available for discretionary expenditures. Management believes that free cash flow presents the core operating performance and cash-generating capabilities of our business operations. As a result of our change in presentation, free cash flow for the prior period has been adjusted to conform to the current period, which includes the deduction of our capitalized software costs.

    Free Cash Flow Margin – Free Cash Flow as a percentage of revenue, which represents how much of revenue would be realized on a cash basis. We consider this measure to be a meaningful metric for tracking cash conversion on a year-over-year basis due to the non-cash nature of our pension income, which is included in our GAAP and Non-GAAP earnings metrics presented herein.

    These non-GAAP measures are not defined in the same manner by all companies and may not be comparable to other similarly titled measures of other companies. Non-GAAP measures should be considered in addition to, and not as a substitute for, the information contained within our condensed consolidated financial statements.

    WTW Forward-Looking Statements

    This document contains ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws. These forward-looking statements include information about possible or assumed future results of our operations. All statements, other than statements of historical facts, that address activities, events or developments that we expect or anticipate may occur in the future, including such things as: our outlook; the potential impact of natural or man-made disasters like health pandemics and other world health crises; future capital expenditures; ongoing working capital efforts; future share repurchases; financial results (including our revenue, costs or margins) and the impact of changes to tax laws on our financial results; existing and evolving business strategies including those related to acquisitions and dispositions; demand for our services and competitive strengths; strategic goals; the benefits of new initiatives; growth of our business and operations; the sustained health of our product, service, transaction, client, and talent assessment and management pipelines; our ability to successfully manage ongoing leadership, organizational and technology changes, including investments in improving systems and processes; our ability to implement and realize anticipated benefits of any cost-savings initiatives generated from our completed multi-year operational transformation program or other expense savings initiatives; our recognition of future impairment charges; and plans and references to future performance, including our future financial and operating results, short-term and long-term financial goals, plans, objectives, expectations and intentions, including with respect to free cash flow generation, adjusted net revenue, adjusted operating margin and adjusted earnings per share, are forward-looking statements. Also, when we use words such as ‘may’, ‘will’, ‘would’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘plan’, ‘continues’, ‘seek’, ‘target’, ‘goal’, ‘focus’, ‘probably’, or similar expressions, we are making forward-looking statements. Such statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. All forward-looking disclosure is speculative by its nature.

    There are important risks, uncertainties, events and factors that could cause our actual results or performance to differ materially from those in the forward-looking statements contained in this document, including the following: our ability to successfully establish, execute and achieve our global business strategy as it evolves; our ability to fully realize the anticipated benefits of our growth strategy, including inorganic growth through acquisitions; our ability to achieve our short-term and long-term financial goals, such as with respect to our cash flow generation, and the timing with respect to such achievement; the risks related to changes in general economic conditions, business and political conditions, changes in the financial markets, inflation, credit availability, increased interest rates, changes in trade policies, increased tariffs and retaliatory actions; the risks to our short-term and long-term financial goals from any of the risks or uncertainties set forth herein; the risks relating to the adverse impacts of macroeconomic trends, including those relating to changes in trade policies and tariffs, as well as political events, war, such as the Russia-Ukraine and Israel-Hamas wars, and other international disputes, terrorism, natural disasters, public health issues and other business interruptions on the global economy and capital markets, such as uncertainty in the global markets, inflation, changes in interest rates and recessionary trends, changes in spending by government agencies and contractors, which could have a material adverse effect on our business, financial condition, results of operations and long-term goals; our ability to successfully hedge against fluctuations in foreign currency rates; the risks relating to the adverse impacts of natural or man-made disasters such as health pandemics and other world health crises on the demand for our products and services, our cash flows and our business operations; material interruptions to or loss of our information processing capabilities, or failure to effectively maintain and upgrade our information technology resources and systems and related risks of cybersecurity breaches or incidents; our ability to comply with complex and evolving regulations related to data privacy, cybersecurity and artificial intelligence; the risks relating to the transitional arrangements in effect subsequent to our completed sale of TRANZACT; significant competition that we face and the potential for loss of market share and/or profitability; the impact of seasonality and differences in timing of renewals and non-recurring revenue increases from disposals and book-of-business sales; the insufficiency of client data protection, potential breaches of information systems or insufficient safeguards against cybersecurity breaches or incidents; the risk of increased liability or new legal claims arising from our new and existing products and services, and expectations, intentions and outcomes relating to outstanding litigation; the risk of substantial negative outcomes on existing or potential future litigation or investigation matters; changes in the regulatory environment in which we operate, including, among other risks, the impacts of pending competition law and regulatory investigations; various claims, government inquiries or investigations or the potential for regulatory action; our ability to make divestitures or acquisitions, including our ability to integrate or manage acquired businesses or carve-out businesses to be disposed, as well as our ability to identify and successfully execute on opportunities for strategic collaboration; our ability to integrate direct-to-consumer sales and marketing solutions with our existing offerings and solutions; our ability to successfully manage ongoing organizational changes, including as a result of our recently-completed multi-year operational transformation program, investments in improving systems and processes, and in connection with our acquisition and divestiture activities; disasters or business continuity problems; our ability to successfully enhance our billing, collection and other working capital efforts, and thereby increase our free cash flow; our ability to properly identify and manage conflicts of interest; reputational damage, including from association with third parties; reliance on third-party service providers and suppliers; risks relating to changes in our management structures and in senior leadership; the loss of key employees or a large number of employees and rehiring rates; our ability to maintain our corporate culture; doing business internationally, including the impact of global trade policies and retaliatory considerations as well as foreign currency exchange rates; compliance with extensive government regulation; the risk of sanctions imposed by governments, or changes to associated sanction regulations (such as sanctions imposed on Russia) and related counter-sanctions; our ability to effectively apply technology, data and analytics solutions, including through the use of artificial intelligence, for internal operations, maintaining industry standards, meeting client preferences and gaining competitive advantage, among other things; changes and developments in the insurance industry or the U.S. healthcare system, including those related to Medicare, and any other changes and developments in legal, regulatory, economic, business or operational conditions that could impact our businesses; the inability to protect our intellectual property rights, or the potential infringement upon the intellectual property rights of others; fluctuations in our pension assets and liabilities and related changes in pension income, including as a result of, related to, or derived from movements in the interest rate environment, investment returns, inflation, or changes in other assumptions that are used to estimate our benefit obligations and their effect on adjusted earnings per share; our capital structure, including indebtedness amounts, the limitations imposed by the covenants in the documents governing such indebtedness and the maintenance of the financial and disclosure controls and procedures of each; our ability to obtain financing on favorable terms or at all; adverse changes in our credit ratings; the impact of recent or potential changes to U.S. or foreign laws, and the enactment of additional, or the revision of existing, state, federal, and/or foreign laws and regulations, recent judicial decisions and development of case law, other regulations and any policy changes and legislative actions, including those that may impose additional excise taxes or impact our effective tax rate; U.S. federal income tax consequences to U.S. persons owning at least 10% of our shares; changes in accounting principles, estimates or assumptions; our recognition of future impairment charges; risks relating to or arising from environmental, social and governance (‘ESG’) practices; fluctuation in revenue against our relatively fixed or higher-than-expected expenses; the risk that investment levels increase; the laws of Ireland being different from the laws of the U.S. and potentially affording less protections to the holders of our securities; and our holding company structure potentially preventing us from being able to receive dividends or other distributions in needed amounts from our subsidiaries.

    The foregoing list of factors is not exhaustive and new factors may emerge from time to time that could also affect actual performance and results. For more information, please see Part I, Item 1A in our Annual Report on Form 10-K, and our subsequent filings with the SEC. Copies are available online at http://www.sec.gov or www.wtwco.com.

    Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of these assumptions, and therefore also the forward-looking statements based on these assumptions, could themselves prove to be inaccurate. Given the significant uncertainties inherent in the forward-looking statements included in this document, our inclusion of this information is not a representation or guarantee by us that our objectives and plans will be achieved.

    Our forward-looking statements speak only as of the date made and we will not update these forward-looking statements unless the securities laws require us to do so. With regard to these risks, uncertainties and assumptions, the forward-looking events discussed in this document may not occur, and we caution you against unduly relying on these forward-looking statements.

    Contact

    INVESTORS
    Claudia De La Hoz | Claudia.Delahoz@wtwco.com

    WTW
    Supplemental Segment Information
    (In millions of U.S. dollars)
    (Unaudited)
         
    REVENUE    
                  Components of Revenue Change(i)
                        Less:       Less:    
        Three Months Ended
    June 30,    		     As Reported   Currency   Constant Currency   Acquisitions/   Organic
        2025     2024     % Change   Impact   Change   Divestitures   Change
                                     
    Health, Wealth & Career                                
    Revenue excluding interest income   $ 1,173     $ 1,251     (6)%   1%   (7)%   (12)%   4%
    Interest income     7       9                      
    Total     1,180       1,260     (6)%   1%   (8)%   (12)%   4%
                                     
    Risk & Broking                                
    Revenue excluding interest income   $ 1,024     $ 950     8%   1%   6%   0%   6%
    Interest income     23       29                      
    Total     1,047       979     7%   1%   6%   0%   6%
                                     
    Segment Revenue   $ 2,227     $ 2,239     (1)%   1%   (2)%   (7)%   5%
    Corporate, reimbursable expenses and other     24       20                      
    Interest income     10       6                      
    Revenue   $ 2,261     $ 2,265     0%   1%   (1)%   (6)%   5%(ii)
                  Components of Revenue Change(i)
                        Less:       Less:    
        Six Months Ended June 30,     As Reported   Currency   Constant Currency   Acquisitions/   Organic
        2025     2024     % Change   Impact   Change   Divestitures   Change
                                     
    Health, Wealth & Career                                
    Revenue excluding interest income   $ 2,331     $ 2,578     (10)%   0%   (10)%   (13)%   3%
    Interest income     14       18                      
    Total     2,345       2,596     (10)%   0%   (10)%   (13)%   3%
                                     
    Risk & Broking                                
    Revenue excluding interest income   $ 2,029     $ 1,900     7%   0%   7%   0%   7%
    Interest income     45       57                      
    Total     2,074       1,957     6%   0%   6%   0%   6%
                                     
    Segment Revenue   $ 4,419     $ 4,553     (3)%   0%   (3)%   (7)%   5%
    Corporate, reimbursable expenses and other     45       41                      
    Interest income     20       12                      
    Revenue   $ 4,484     $ 4,606     (3)%   0%   (3)%   (7)%   5%(ii)
    (i) Components of revenue change may not add due to rounding.
    (ii) Interest income did not contribute to organic change for the three and six months ended June 30, 2025.


    BOOK-OF-BUSINESS SETTLEMENTS AND INTEREST INCOME

        Three Months Ended June 30,
        HWC   R&B   Corporate   Total
        2025   2024   2025   2024   2025   2024   2025   2024
    Book-of-business settlements   $ —     $ —     $ 3     $ 2     $ —     $ —     $ 3     $ 2  
    Interest income     7       9       23       29       10       6       40       44  
    Total   $ 7     $ 9     $ 26     $ 31     $ 10     $ 6     $ 43     $ 46  
        Six Months Ended June 30,
        HWC   R&B   Corporate   Total
        2025   2024   2025   2024   2025   2024   2025   2024
    Book-of-business settlements   $ 2     $ —     $ 3     $ 4     $ —     $ —     $ 5     $ 4  
    Interest income     14       18       45       57       20       12       79       87  
    Total   $ 16     $ 18     $ 48     $ 61     $ 20     $ 12     $ 84     $ 91  


    SEGMENT OPERATING INCOME     (i)

        Three Months Ended
    June 30,
        2025   2024
                 
    Health, Wealth & Career   $ 280     $ 276  
    Risk & Broking     222       202  
    Segment Operating Income   $ 502     $ 478  
        Six Months Ended
    June 30,
        2025   2024
                 
    Health, Wealth & Career   $ 591     $ 612  
    Risk & Broking     448       405  
    Segment Operating Income   $ 1,039     $ 1,017  
    (i) Segment operating income excludes certain costs, including amortization of intangibles, restructuring costs, transaction and transformation expenses, certain litigation provisions, and to the extent that the actual expense based upon which allocations are made differs from the forecast/budget amount, a reconciling item will be created between internally-allocated expenses and the actual expenses reported for U.S. GAAP purposes.


    SEGMENT OPERATING MARGINS

        Three Months Ended June 30,
        2025   2024
    Health, Wealth & Career   23.8%   21.9%
    Risk & Broking   21.2%   20.6%
        Six Months Ended June 30,
        2025   2024
    Health, Wealth & Career   25.2%   23.6%
    Risk & Broking   21.6%   20.7%


    RECONCILIATIONS OF SEGMENT OPERATING INCOME TO INCOME FROM OPERATIONS BEFORE INCOME TAXES

        Three Months Ended June 30,
        2025   2024
                 
    Segment Operating Income   $ 502     $ 478  
    Amortization     (49 )     (60 )
    Restructuring costs     —       (3 )
    Transaction and transformation(i)     (2 )     (97 )
    Unallocated, net(ii)     (83 )     (106 )
    Income from Operations     368       212  
    Interest expense     (64 )     (68 )
    Other income, net     9       23  
    Income from operations before income taxes and interest in earnings of associates   $ 313     $ 167  
        Six Months Ended June 30,
        2025   2024
                 
    Segment Operating Income   $ 1,039     $ 1,017  
    Amortization     (97 )     (120 )
    Restructuring costs     —       (21 )
    Transaction and transformation(i)     (2 )     (222 )
    Unallocated, net(ii)     (140 )     (162 )
    Income from Operations     800       492  
    Interest expense     (129 )     (132 )
    Other (loss)/income, net     (55 )     49  
    Income from operations before income taxes and interest in earnings of associates   $ 616     $ 409  
    (i) In addition to legal fees and other transaction costs, includes primarily consulting fees and compensation costs related to the Transformation program.
    (ii)  Includes certain costs, primarily related to corporate functions which are not directly related to the segments, and certain differences between budgeted expenses determined at the beginning of the year and actual expenses that we report for U.S. GAAP purposes.
    WTW
    Reconciliations of Non-GAAP Measures
    (In millions of U.S. dollars, except per share data)
    (Unaudited)
     
    RECONCILIATIONS OF NET INCOME ATTRIBUTABLE TO WTW TO ADJUSTED DILUTED EARNINGS PER SHARE
           
        Three Months Ended June 30,
        2025   2024
                 
    Net income attributable to WTW   $ 331     $ 141  
    Adjusted for certain items:            
    Amortization     49       60  
    Restructuring costs     —       3  
    Transaction and transformation     2       97  
    Provision for specified litigation matter (i)     —       13  
    Net periodic pension and postretirement benefits     (13 )     (21 )
    Tax effect on certain items listed above(ii)     (10 )     (39 )
    Tax effect of significant adjustments     (74 )     (7 )
    Adjusted Net Income   $ 285     $ 247  
                 
    Weighted-average ordinary shares, diluted     100       103  
                 
    Diluted Earnings Per Share   $ 3.32     $ 1.36  
    Adjusted for certain items:(iii)            
    Amortization     0.49       0.58  
    Restructuring costs     —       0.03  
    Transaction and transformation     0.02       0.94  
    Provision for specified litigation matter (i)     —       0.13  
    Net periodic pension and postretirement benefits     (0.13 )     (0.20 )
    Tax effect on certain items listed above(ii)     (0.10 )     (0.38 )
    Tax effect of significant adjustments     (0.74 )     (0.07 )
    Adjusted Diluted Earnings Per Share(iii)   $ 2.86     $ 2.39  
        Six Months Ended June 30,
        2025   2024
                 
    Net income attributable to WTW   $ 566     $ 331  
    Adjusted for certain items:            
    Amortization     97       120  
    Restructuring costs     —       21  
    Transaction and transformation     2       222  
    Provision for specified litigation matter(i)     —       13  
    Net periodic pension and postretirement benefits     62       (43 )
    Gain on disposal of operations     (14 )     —  
    Tax effect on certain items listed above(ii)     (38 )     (85 )
    Tax effect of significant adjustments     (74 )     (7 )
    Adjusted Net Income   $ 601     $ 572  
                 
    Weighted-average ordinary shares, diluted     100       104  
                 
    Diluted Earnings Per Share   $ 5.64     $ 3.20  
    Adjusted for certain items:(iii)            
    Amortization     0.97       1.16  
    Restructuring costs     —       0.20  
    Transaction and transformation     0.02       2.14  
    Provision for specified litigation matter(i)     —       0.13  
    Net periodic pension and postretirement benefits     0.62       (0.42 )
    Gain on disposal of operations     (0.14 )     —  
    Tax effect on certain items listed above(ii)     (0.38 )     (0.82 )
    Tax effect of significant adjustments     (0.74 )     (0.07 )
    Adjusted Diluted Earnings Per Share(iii)   $ 5.99     $ 5.53  
    (i) Represents a provision related to potential litigation arising out of a structured insurance program originally placed for a client over 15 years ago. The program is of a type and complexity that was highly bespoke to the client and for that reason is unlikely to be exactly replicated elsewhere. Because of this, while we do not believe the potential litigation is material, we believe excluding this matter from adjusted results makes results more comparable from period to period and more representative of our core business operations.
    (ii) The tax effect was calculated using an effective tax rate for each item.
    (iii) Per share values and totals may differ due to rounding.


    RECONCILIATIONS OF NET INCOME TO ADJUSTED EBITDA

        Three Months Ended June 30,  
        2025   2024  
                   
    Net Income   $ 332   14.7% $ 142   6.3%
    (Benefit from)/provision for income taxes     (21 )     26    
    Interest expense     64       68    
    Depreciation     57       57    
    Amortization     49       60    
    Restructuring costs     —       3    
    Transaction and transformation     2       97    
    Provision for specified litigation matter(i)     —       13    
    Net periodic pension and postretirement benefits     (13 )     (21 )  
    Adjusted EBITDA and Adjusted EBITDA Margin   $ 470   20.8% $ 445   19.6%
        Six Months Ended June 30,  
        2025   2024  
                   
    Net Income   $ 571   12.7% $ 336   7.3%
    Provision for income taxes     44       74    
    Interest expense     129       132    
    Depreciation     111       116    
    Amortization     97       120    
    Restructuring costs     —       21    
    Transaction and transformation     2       222    
    Provision for specified litigation matter(i)     —       13    
    Net periodic pension and postretirement benefits     62       (43 )  
    Gain on disposal of operations     (14 )     —    
    Adjusted EBITDA and Adjusted EBITDA Margin   $ 1,002   22.3% $ 991   21.5%
    (i) Represents a provision related to potential litigation arising out of a structured insurance program originally placed for a client over 15 years ago. The program is of a type and complexity that was highly bespoke to the client and for that reason is unlikely to be exactly replicated elsewhere. Because of this, while we do not believe the potential litigation is material, we believe excluding this matter from adjusted results makes results more comparable from period to period and more representative of our core business operations.


    RECONCILIATIONS OF INCOME FROM OPERATIONS TO ADJUSTED OPERATING INCOME

        Three Months Ended June 30,  
        2025   2024  
                   
    Income from operations and Operating margin   $ 368   16.3% $ 212   9.4%
    Adjusted for certain items:              
    Amortization     49       60    
    Restructuring costs     —       3    
    Transaction and transformation     2       97    
    Provision for specified litigation matter(i)     —       13    
    Adjusted operating income and Adjusted operating income margin   $ 419   18.5% $ 385   17.0%
        Six Months Ended June 30,  
        2025   2024  
                   
    Income from operations and Operating margin   $ 800   17.8% $ 492   10.7%
    Adjusted for certain items:              
    Amortization     97       120    
    Restructuring costs     —       21    
    Transaction and transformation     2       222    
    Provision for specified litigation matter(i)     —       13    
    Adjusted operating income and Adjusted operating income margin   $ 899   20.0% $ 868   18.8%
    (i) Represents a provision related to potential litigation arising out of a structured insurance program originally placed for a client over 15 years ago. The program is of a type and complexity that was highly bespoke to the client and for that reason is unlikely to be exactly replicated elsewhere. Because of this, while we do not believe the potential litigation is material, we believe excluding this matter from adjusted results makes results more comparable from period to period and more representative of our core business operations.


    RECONCILIATIONS OF GAAP INCOME TAXES/TAX RATE TO ADJUSTED INCOME TAXES/TAX RATE

        Three Months Ended June 30,
        2025   2024
                 
    Income from operations before income taxes and interest in earnings of associates   $ 313     $ 167  
                 
    Adjusted for certain items:            
    Amortization     49       60  
    Restructuring costs     —       3  
    Transaction and transformation     2       97  
    Provision for specified litigation matter(i)     —       13  
    Net periodic pension and postretirement benefits     (13 )     (21 )
    Adjusted income before taxes   $ 351     $ 319  
                 
    (Benefit from)/provision for income taxes   $ (21 )   $ 26  
    Tax effect on certain items listed above(ii)     10       39  
    Tax effect of significant adjustments     74       7  
    Adjusted income taxes   $ 63     $ 72  
                 
    U.S. GAAP tax rate     (6.8 )%     15.6 %
    Adjusted income tax rate     18.0 %     22.4 %
        Six Months Ended June 30,
        2025   2024
                 
    Income from operations before income taxes and interest in earnings of associates   $ 616     $ 409  
                 
    Adjusted for certain items:            
    Amortization     97       120  
    Restructuring costs     —       21  
    Transaction and transformation     2       222  
    Provision for specified litigation matter(i)     —       13  
    Net periodic pension and postretirement benefits     62       (43 )
    Gain on disposal of operations     (14 )     —  
    Adjusted income before taxes   $ 763     $ 742  
                 
    Provision for income taxes   $ 44     $ 74  
    Tax effect on certain items listed above(ii)     38       85  
    Tax effect of significant adjustments     74       7  
    Adjusted income taxes   $ 156     $ 166  
                 
    U.S. GAAP tax rate     7.1 %     18.1 %
    Adjusted income tax rate     20.5 %     22.3 %
    (i) Represents a provision related to potential litigation arising out of a structured insurance program originally placed for a client over 15 years ago. The program is of a type and complexity that was highly bespoke to the client and for that reason is unlikely to be exactly replicated elsewhere. Because of this, while we do not believe the potential litigation is material, we believe excluding this matter from adjusted results makes results more comparable from period to period and more representative of our core business operations.
    (ii) The tax effect was calculated using an effective tax rate for each item.


    RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES TO FREE CASH FLOW

        Six Months Ended June 30,
        2025   2024
                 
    Cash flows from operating activities   $ 326     $ 431  
    Less: Additions to fixed assets and software     (109 )     (126 )
    Free Cash Flow   $ 217     $ 305  
    WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY
    Condensed Consolidated Statements of Income
    (In millions of U.S. dollars, except per share data)
    (Unaudited)
                 
        Three Months Ended
    June 30,    		   Six Months Ended
    June 30,
        2025   2024   2025   2024
    Revenue   $ 2,261     $ 2,265     $ 4,484     $ 4,606  
                             
    Costs of providing services                        
    Salaries and benefits     1,449       1,397       2,773       2,739  
    Other operating expenses     336       439       701       896  
    Depreciation     57       57       111       116  
    Amortization     49       60       97       120  
    Restructuring costs     —       3       —       21  
    Transaction and transformation     2       97       2       222  
    Total costs of providing services     1,893       2,053       3,684       4,114  
                             
    Income from operations     368       212       800       492  
                             
    Interest expense     (64 )     (68 )     (129 )     (132 )
    Other income/(loss), net     9       23       (55 )     49  
                             
    INCOME FROM OPERATIONS BEFORE INCOME TAXES AND INTEREST IN EARNINGS OF ASSOCIATES   313       167       616       409  
                             
    Benefit from/(provision for) income taxes     21       (26 )     (44 )     (74 )
                             
    INCOME FROM OPERATIONS BEFORE INTEREST IN EARNINGS OF ASSOCIATES   334       141       572       335  
                             
    Interest in earnings of associates, net of tax     (2 )     1       (1 )     1  
                             
    NET INCOME   332       142       571       336  
                             
    Income attributable to non-controlling interests     (1 )     (1 )     (5 )     (5 )
                             
    NET INCOME ATTRIBUTABLE TO WTW   $ 331     $ 141     $ 566     $ 331  
                             
    EARNINGS PER SHARE                        
    Basic earnings per share   $ 3.34     $ 1.37     $ 5.68     $ 3.22  
    Diluted earnings per share   $ 3.32     $ 1.36     $ 5.64     $ 3.20  
                             
    Weighted-average ordinary shares, basic     99       103       100       103  
    Weighted-average ordinary shares, diluted     100       103       100       104  
    WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY
    Condensed Consolidated Balance Sheets
    (In millions of U.S. dollars, except share data)
    (Unaudited)
                 
        June 30,   December 31,
        2025   2024
    ASSETS            
    Cash and cash equivalents   $ 1,963     $ 1,890  
    Fiduciary assets     10,720       9,504  
    Accounts receivable, net     2,364       2,494  
    Prepaid and other current assets     558       1,217  
    Total current assets     15,605       15,105  
    Fixed assets, net     696       661  
    Goodwill     8,938       8,799  
    Other intangible assets, net     1,232       1,295  
    Right-of-use assets     495       485  
    Pension benefits assets     578       530  
    Other non-current assets     934       806  
    Total non-current assets     12,873       12,576  
    TOTAL ASSETS   $ 28,478     $ 27,681  
    LIABILITIES AND EQUITY            
    Fiduciary liabilities   $ 10,720     $ 9,504  
    Deferred revenue and accrued expenses     1,726       2,211  
    Current debt     549       —  
    Current lease liabilities     124       118  
    Other current liabilities     752       765  
    Total current liabilities     13,871       12,598  
    Long-term debt     4,762       5,309  
    Liability for pension benefits     550       615  
    Provision for liabilities     369       341  
    Long-term lease liabilities     500       502  
    Other non-current liabilities     246       299  
    Total non-current liabilities     6,427       7,066  
    TOTAL LIABILITIES     20,298       19,664  
    COMMITMENTS AND CONTINGENCIES            
    EQUITY(i)            
    Additional paid-in capital     11,012       10,989  
    (Accumulated deficit)/retained earnings     (206 )     109  
    Accumulated other comprehensive loss, net of tax     (2,706 )     (3,158 )
    Total WTW shareholders’ equity     8,100       7,940  
    Non-controlling interests     80       77  
    Total Equity     8,180       8,017  
    TOTAL LIABILITIES AND EQUITY   $ 28,478     $ 27,681  
         
    (i) Equity includes (a) Ordinary shares $0.000304635 nominal value; Authorized 1,510,003,775; Issued 97,853,208 (2025) and 99,805,780 (2024); Outstanding 97,853,208 (2025) and 99,805,780 (2024) and (b) Preference shares, $0.000115 nominal value; Authorized 1,000,000,000 and Issued none in 2025 and 2024.
    WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY
    Condensed Consolidated Statements of Cash Flows
    (In millions of U.S. dollars)
    (Unaudited)
           
        Six Months Ended June 30,
        2025   2024
    CASH FLOWS FROM OPERATING ACTIVITIES            
    NET INCOME   $ 571     $ 336  
    Adjustments to reconcile net income to total net cash from operating activities:            
    Depreciation     111       116  
    Amortization     97       120  
    Non-cash restructuring charges     —       12  
    Non-cash lease expense     47       49  
    Net periodic cost/(benefit) of defined benefit pension plans     94       (11 )
    Provision for doubtful receivables from clients     7       10  
    Benefit from deferred income taxes     (70 )     (25 )
    Share-based compensation     68       54  
    Net gain on disposal of operations     (14 )     —  
    Non-cash foreign exchange loss/(gain)     30       (12 )
    Other, net     18       22  
    Changes in operating assets and liabilities, net of effects from purchase of subsidiaries:            
    Accounts receivable     225       118  
    Other assets     (99 )     (161 )
    Other liabilities     (778 )     (242 )
    Provisions     19       45  
    Net cash from operating activities     326       431  
                 
    CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES            
    Additions to fixed assets and software     (109 )     (126 )
    Acquisitions of operations, net of cash acquired     (14 )     (18 )
    Contributions to investments in associates     (8 )     —  
    Net proceeds from sale of operations     836       —  
    Net purchases of held-to-maturity securities     (50 )     —  
    Net purchases of available-for-sale securities     (43 )     (14 )
    Net cash from/(used in) investing activities     612       (158 )
                 
    CASH FLOWS (USED IN)/FROM FINANCING ACTIVITIES            
    Senior notes issued     —       746  
    Debt issuance costs     —       (9 )
    Repayments of debt     (2 )     (652 )
    Repurchase of shares     (700 )     (301 )
    Net proceeds from fiduciary funds held for clients     141       783  
    Payments of deferred and contingent consideration related to acquisitions     (15 )     —  
    Cash paid for employee taxes on withholding shares     (43 )     (24 )
    Dividends paid     (179 )     (176 )
    Acquisitions of and dividends paid to non-controlling interests     (2 )     (3 )
    Net cash (used in)/from financing activities     (800 )     364  
                 
    INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH     138       637  
    Effect of exchange rate changes on cash, cash equivalents and restricted cash     207       (53 )
    CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD (i)     4,998       3,792  
    CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD (i)   $ 5,343     $ 4,376  
         
    (i) The amounts of cash, cash equivalents and restricted cash, their respective classification on the condensed consolidated balance sheets, as well as their respective portions of the increase or decrease in cash, cash equivalents and restricted cash for each of the periods presented have been included in the Supplemental Disclosure of Cash Flow Information section.

    SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

        Six Months Ended June 30,
        2025   2024
                 
    Supplemental disclosures of cash flow information:            
    Cash and cash equivalents   $ 1,963     $ 1,247  
    Fiduciary funds (included in fiduciary assets)     3,380       3,129  
    Total cash, cash equivalents and restricted cash   $ 5,343     $ 4,376  
                 
    Decrease in cash, cash equivalents and other restricted cash   $ (3 )   $ (154 )
    Increase in fiduciary funds     141       791  
    Total (i)   $ 138     $ 637  
    (i) Does not include the effect of exchange rate changes on cash, cash equivalents and restricted cash.

    The MIL Network –

  • MIL-OSI Russia: Myanmar announces formation of new union government

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    YANGON, July 31 (Xinhua) — Myanmar’s National Defence and Security Council on Thursday formed a new union government and a National Security and Peace Commission, state broadcaster MRTV reported.

    The Union Government is headed by Nyo Soe as Prime Minister and the National Security and Peace Commission is led by Senior General Min Aung Hlaing, the statement said.

    According to the report, the National Defense and Security Council also decided to cancel the order to transfer powers to the commander-in-chief of the armed forces.

    Myanmar State Administrative Council spokesman Zaw Min Tun said on Thursday that the National Defence and Security Council had decided to lift the state of emergency to hold a general election.

    In February 2021, Myanmar’s then-acting President Myint Swe declared a one-year state of emergency and handed over supreme power to the Commander-in-Chief of the Armed Forces. The Office of the Commander-in-Chief of the Armed Forces subsequently formed the State Administrative Council, chaired by Min Aung Hlaing. Myanmar’s National Defense and Security Council has repeatedly extended the state of emergency for six months, until July 31 this year. –0–

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: The CSR discussed how platform employment regulation will develop

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

    The Center for Strategic Research held a round table entitled “Platform Employment in the New Conditions: What Changes After the Law on the Platform Economy.” Together with representatives of the Ministry of Economic Development, the State Duma, the expert and academic community, as well as leading digital platforms, they discussed the adopted law on the platform economy and future regulatory detailing at the level of by-laws.

    According to the participants, the adopted law was an important step in the formation of a basic regulatory framework, but it is now that the most subtle and meaningful part of the work begins – filling this framework with tools, concepts and mechanisms.

    The moderator of the round table, CEO of the CSR Pavel Smelov noted: “Russia is one of the few countries where digital platforms have become a truly systemic part of the economy. We have not just implemented technologies, we have created our own model – and this is a serious competitive advantage. Now our task is not to lose our leadership, to take the next step – to turn the platform economy into a full-fledged export model. It is no longer just about technologies, but about a new logic of the economic structure that can be transmitted beyond the country’s borders.”

    Also, in his opinion, the key direction of the next stage is the issue of platform employment: “We are already living in a new reality: there is a platform, there is a platform economy, and we still continue to hold on to the old model of social security, as if nothing has changed. The social security system needs to be revised taking into account how the employment market is actually structured today. People are developing other principles of financial stability: investments, a safety net, additional income. Therefore, it is important not only to protect, but also to educate – to help people navigate modern work formats and make informed decisions. Especially when it comes to those for whom the platform is not their main, but additional employment.”

    The Ministry of Economic Development emphasized that the implementation of the law will require a flexible and consistent approach, especially in terms of employment. The main focus in the coming months is work on by-laws, the launch of a digital platform registry mechanism, and the preparation of clarifications.

    “Russia has made great strides in developing the platform economy: we already have our own effectively functioning models that are of interest abroad. But it is important not to stop there. Platforms are developing rapidly, and regulation should not slow down, but rather accompany this process, be flexible and targeted. We see that citizens make decisions based not only on the logic of the future, but also on current circumstances — and pensions and social guarantees are not always perceived as real values. Therefore, the platform can become a channel through which we will rethink social policy — at the level of product, convenience, and trust. We have examples when digital, platform services became a necessary tool for performers to legalize and comply with legal requirements, including the calculation and payment of taxes. Platform tools have proven their convenience and demand. In turn, this approach provides additional opportunities to ensure control by the state. Our task today is not to go to extremes, but to maintain an open dialogue, flexibility, and thoughtfulness. This is precisely the strength of the platform economy,” said Vladimir Voloshin, Director of the Department of Digital Development and Data Economy at the Ministry of Economic Development.

    State Duma Deputy Stanislav Naumov reported that an expert council will be created under the Committee on Economic Policy, which will undertake in-depth study of unresolved issues.

    “In September, we are ready to move on. For me personally, there are three priorities today. The first is export orientation: platforms should help Russian businesses enter foreign markets, and not just regulate access of foreign players to ours. The second is the development of internal B2B interaction, where online platforms can become a full-fledged infrastructure for cooperation between suppliers. And the third is the use of platforms to improve the efficiency of state and municipal procurement,” he said.

    As for platform employment, according to the deputy, this is not just a regulatory issue – it is a question of filling the social fund and, as a result, a real opportunity to increase the minimum level of pensions in those regions where it is objectively insufficient today. “This is how I understand the social task of regulation,” he concluded.

    Business supported the general vector, but drew attention to the need for a differentiated approach. Industry representatives emphasized that uniform standards for platforms with fundamentally different models — from marketplaces to service aggregators — could result in risks for flexibility and employment.

    “The platform economy has already changed the market, and the self-employed regime has proven that people are ready to come out of the shadows if they are offered transparent and convenient conditions. Let’s not abolish what works, but rebuild the old – so that the economy, employment and the contribution system develop synchronously,” said Anton Danilov-Danilyan, Deputy Chairman of Delovaya Rossiya, head of the working group of transport service aggregators at the Russian Union of Industrialists and Entrepreneurs. According to Yuri Bogdanov, General Director of the Association of Digital Platforms, “it is digitalization, platform development and the tax regime on professional income that give the state a chance to oust gray practices through transparency.”

    “Platform employment is being formed to a greater extent in industries with high demand for flexible types of employment, allowing for the expansion of participation of various groups of the population in the economy. Therefore, it is important not just to offer them standard social benefits, but to understand what they really need and what they are ready to use,” noted Rimma Chichakyan, Director of Legal Affairs and Government Relations at Yandex Taxi.

    Ozon representative Alexander Vasiliev supported this position. “We are no longer living in an industrial economy, but in a post-industrial economy, and regulation should take this into account. At the same time, it is important to maintain a choice between different employment formats and not limit new models,” he noted.

    The participants of the discussion agreed that the development of the platform economy does not require strict regulation, but rather fine-tuning and careful attention to specifics. Among the priority areas, the participants highlighted the need to clarify the criteria for the integrity of platforms, the formation of mechanisms for distinguishing employment from shadow schemes, as well as work on the status of the performer and protection tools. Particular attention was paid to the creation of a sustainable format for dialogue between the state, business and experts – both on the parliamentary platform and within the framework of the implementation of the law in practice.

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial News: Recommendations for financial market participants on the conceptual design of the “Reference and Master Data” process

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    The development of modern technologies, the increase in the amount of data, the emergence of new financial products and the digitalization of traditional ones require financial market participants to create and improve data management systems.

    The main tasks of data management systems development:

    improving the quality and reliability of data, increasing their efficiency, transparency of data preparation processes for regulatory reporting, increasing flexibility and speed of response to changes in regulation, increasing the efficiency of core business processes.

    The Bank of Russia believes that data management systems of individual financial institutions are important for maintaining the quality of data in the country’s financial system as a whole. Proper data management is also necessary for the timely and complete provision of regulatory reporting, on the basis of which supervisory decisions are made, among other things.

    The conditions for the development of data management systems are created by the Bank of Russia taking into account global experience, the current level of development of financial organizations, current restrictions on technologies and general challenges facing the domestic financial market.

    In 2024, the regulator created a working group on the development of data management systems for financial market participants, which includes representatives of the Bank of Russia’s structural divisions and the director of data management for financial institutions. The head of the working group is Deputy Chairman of the Bank of Russia Valery Kazarin. The working group includes subgroups to develop a methodology for assessing the maturity of data management systems for financial market participants and to develop methodological recommendations for the development of data management systems for financial market participants.

    The working group has developed recommendations for the development of data management systems for financial market participants and a methodology for self-assessing the maturity of data management systems for financial market participants.

    Market participants are encouraged to regularly conduct self-assessments of the maturity level of data management systems, which will improve the quality of data and analytics, optimize information management processes, and more quickly adapt to regulatory changes. Based on the results of the self-assessment, a market participant can take advantage of recommendations of the working group to improve the efficiency of their processes and technological solutions.

    Responsible structural unit: Department of Data, Projects and Processes

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  • MIL-OSI Russia: Financial News: Recommendations for financial market participants on the conceptual design of the “Metadata Management” process

    Translation. Region: Russian Federal

    Source: Central Bank of Russia –

    An important disclaimer is at the bottom of this article.

    The development of modern technologies, the increase in the amount of data, the emergence of new financial products and the digitalization of traditional ones require financial market participants to create and improve data management systems.

    The main tasks of data management systems development:

    improving the quality and reliability of data, increasing their efficiency, transparency of data preparation processes for regulatory reporting, increasing flexibility and speed of response to changes in regulation, increasing the efficiency of core business processes.

    The Bank of Russia believes that data management systems of individual financial institutions are important for maintaining the quality of data in the country’s financial system as a whole. Proper data management is also necessary for the timely and complete provision of regulatory reporting, on the basis of which supervisory decisions are made, among other things.

    The conditions for the development of data management systems are created by the Bank of Russia taking into account global experience, the current level of development of financial organizations, current restrictions on technologies and general challenges facing the domestic financial market.

    In 2024, the regulator created a working group on the development of data management systems for financial market participants, which includes representatives of the Bank of Russia’s structural divisions and the director of data management for financial institutions. The head of the working group is Deputy Chairman of the Bank of Russia Valery Kazarin. The working group includes subgroups to develop a methodology for assessing the maturity of data management systems for financial market participants and to develop methodological recommendations for the development of data management systems for financial market participants.

    The working group has developed recommendations for the development of data management systems for financial market participants and a methodology for self-assessing the maturity of data management systems for financial market participants.

    Market participants are encouraged to regularly conduct self-assessments of the maturity level of data management systems, which will improve the quality of data and analytics, optimize information management processes, and more quickly adapt to regulatory changes. Based on the results of the self-assessment, a market participant can take advantage of recommendations of the working group to improve the efficiency of their processes and technological solutions.

    Responsible structural unit: Department of Data, Projects and Processes

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  • MIL-OSI Russia: International scientific and educational summer school of restoration at SPbGASU: unique experience of working at a cultural heritage site

    Translation. Region: Russian Federal

    Source: Saint Petersburg State University of Architecture and Civil Engineering –

    An important disclaimer is at the bottom of this article.

    Participants of the summer school

    The projects of the international scientific and educational summer school of restoration “Preservation and regeneration of the cultural heritage of the historical zones of St. Petersburg and the Leningrad region” were defended.

    The summer school was attended by 12 students from Greece, Kazakhstan, Kazan and St. Petersburg. Gathered in teams, they worked on a historical heritage site and a concept for preserving and developing the historical territory of the unique wooden Church of the Nativity of the Blessed Virgin Mary. The current church is located in the village of Listvenka, Boksitogorsk District, Leningrad Region, and is a cultural heritage site of federal significance. This is one of the oldest church buildings in the Leningrad Region – it was built in 1599 and rebuilt in 1720.

    “For students, the summer school was an excellent opportunity to test their restoration skills, gain unique experience and work in a team. All the projects presented were completed at a fairly high level. As part of the summer school, students conducted comprehensive studies of the cultural heritage site, including analysis of archival documents and photo recording, developed and discussed the concept of its preservation,” said Nadezhda Akulova, associate professor of the Department of Architectural and Urban Heritage at SPbGASU.

    Anatoly Shlykov, a student at the Kazan State University of Architecture and Civil Engineering, admits that participation in the summer school was unplanned, but in the end it gave him a wonderful opportunity to work with an ancient object, meet wonderful people, and most importantly, work in a team that loves what they do.

    A student from Greece, Emilia Chaidemenaki, agrees with him, believing that the summer school united and made friends with future restorers from different parts of the world.

    “I got a truly unique experience of working in Russia in general and with one of the oldest church buildings in the Leningrad region in particular. In addition, I became a member of an international team. It’s great that the summer school at SPbGASU opens up such a wonderful opportunity for us, students from different countries,” shared Emilia Khaidemenaki.

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

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  • MIL-OSI Russia: Ten-Year-Old Django: Polytechnic Students Celebrate Anniversary Work Season

    Translation. Region: Russian Federal

    Source: Peter the Great St. Petersburg Polytechnic University –

    An important disclaimer is at the bottom of this article.

    The Polytechnic student teams are back in touch. Today we will go to Crimea together with the agricultural team “Django”. By the way, this is already the tenth working season for our “farmers”.

    The guys celebrated their anniversary at the vineyards of the Massandra company in the village of Malorechenskoye, in the southern part of the peninsula. Many nostalgic memories are associated with this place, because the team is coming here for the third time, everything here has become native and close.

    At work, polytechnicians master the profession of a winegrower: they tie up vines, water and collect ripe bunches of grapes, and look after young vineyards. And in their free time, they explore the surrounding area, visit nearby cities, conquer the Crimean mountains, swim in the sea and organize unforgettable events.

    “What are my feelings about the season? The most diverse! Each new day brings an unusually large number of emotions and impressions, something is constantly happening around – it overwhelms, even confuses from being unaccustomed to it,” shared her impressions of her first trip, “Django” candidate Dasha Shcherbinina. “It seems that I live some new, completely unreal life. And in this life – sun, sea, mountains and endless vineyards!”

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

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  • MIL-OSI Russia: Rosneft has created the first robotic complex in Russia for repairing oil pipes

    Translation. Region: Russian Federal

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    Specialists from the Ufa scientific institute of Rosneft have made a real breakthrough – they have developed and patented the first Russian robotic complex for repairing pump and compressor pipes (NKT). This is a fully automated system that uses the most modern technologies for monitoring and managing processes.

    The robotic complex is a modular design that allows changing the equipment configuration depending on the complicating factors common in the production region. Two technological lines allow not only to repair pipes, but also to apply a protective coating to their inner surface. The productivity of the complex reaches 21 thousand pipes per month.

    The main advantage of the development is minimal human involvement. The entire complex process, including sorting, cleaning pipes from various types of contaminants and even such operations as turning and turning connecting couplings, is now performed automatically. The system’s operation is controlled by personnel remotely.

    The introduction of robotic lines provides several advantages at once: production becomes more compact, safer and more efficient. As a result, the share of manual operations will decrease by 53%, while productivity will increase by 25%.

    The project is a successful example of effective interaction between corporate science and production. The Ufa tandem plans to implement this direction not only at Rosneft facilities, but also to replicate its results to third-party oil companies interested in the development of domestic robotics and the effective use of innovations in the repair of tubing.

    The introduction of advanced approaches and technologies is one of the key areas of the Rosneft-2030 strategy. The company pays special attention to innovative development, defining technological leadership as a key factor in competitiveness in the oil market.

    Department of Information and AdvertisingPJSC NK RosneftJuly 31, 2025

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

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  • MIL-OSI Russia: China’s Foreign Ministry: China urges Japan to take effective measures to ensure safety of Chinese citizens in Japan

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — China has noted relevant reports that two Chinese were seriously beaten in Tokyo, calling on the Japanese side to take effective measures to ensure the safety of Chinese citizens in Japan, Foreign Ministry spokesperson Guo Jiakun said Thursday.

    Earlier it was reported that on Thursday, four men in Tokyo attacked two Chinese people and caused them serious injuries.

    Answering questions from reporters at a regular departmental press conference, Guo Jiakun said that China has taken note of the relevant reports, adding that the Chinese Embassy in Japan, having immediately expressed its concerns to the Japanese side, continues to establish the circumstances of the incident.

    “We urge the Japanese side to take effective measures to ensure the safety of Chinese citizens,” Guo Jiakun concluded. -0-

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

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  • MIL-OSI Russia: China’s Wushi County to Host 2 International Go Tournaments

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — Two international invitational Go (Chinese name Weiqi) tournaments will be held from Aug. 4 to 6 in Wushi County, Aksu Prefecture, northwest China’s Xinjiang Uygur Autonomous Region, the prefectural government said.

    The upcoming competition will bring together 10 teams of Go players from eight countries, namely China, Kazakhstan, Kyrgyzstan, Uzbekistan, Russia, Mongolia, Vietnam and Laos.

    On the sidelines of the sporting events, the Chinese side is expected to sign strategic cooperation agreements in the field of go with Kyrgyzstan and Kazakhstan.

    The two events are aimed at promoting cultural exchanges between participating countries, local authorities said. -0-

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

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  • MIL-OSI Russia: Lithuanian Prime Minister Resigns

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    VILNIUS, July 31 (Xinhua) — Lithuanian Prime Minister Gintautas Paluckas on Thursday announced his resignation as head of the country’s government and chairman of the Social Democratic Party of Lithuania.

    “I have informed the President… that I have decided to resign from the post of Prime Minister,” G. Paluckas said in a statement.

    The resignation came ahead of a planned vote by the party’s executive council and followed a warning from the speaker of the Seimas (parliament) and leader of the Union of Democrats “For Lithuania” Saulius Skvernelis, who threatened to withdraw his party from the coalition government if Paluckas remained in his post.

    According to the Constitution of Lithuania, the entire cabinet of ministers will resign along with the prime minister.

    Lithuanian President Gitanas Nauseda on Thursday welcomed the resignation of G. Paluckas, calling the decision “the only right choice.”

    G. Paluckas’ resignation from the post of the head of government comes amid an investigation into his financial transactions and alleged improper involvement in business, connections with certain businessmen and failure to compensate for damages caused to the Vilnius municipality.

    G. Paluckas, however, denied any wrongdoing and called the criticism a “coordinated attack” by political opponents. –0–

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

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  • MIL-OSI Russia: Russian Armed Forces Take Control of Chasov Yar

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Moscow, July 31 /Xinhua/ — Russian armed forces took control of Chasov Yar on Thursday, TASS reported, citing the Russian Defense Ministry.

    The battles for Chasov Yar lasted for more than a year. The city was one of the most powerful fortified areas of the Ukrainian Armed Forces in Donbass due to the complexity of the landscape and the peculiarities of the buildings and infrastructure. –0–

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

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  • MIL-OSI Russia: Thailand adjusts EV subsidy program to boost exports

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BANGKOK, July 31 (Xinhua) — The Thai government on Wednesday approved adjustments to the country’s key incentive programs to encourage manufacturers to boost exports of battery electric vehicles (BEVs), a move aimed at bolstering the country’s position as a regional EV manufacturing hub.

    Manufacturers participating in the EV subsidy program, which started in 2022, are required to produce electric vehicles domestically as compensation for receiving subsidies and exemption from import duties.

    Under the revised terms, one BEV produced for export will count as 1.5 vehicles under the local production quota, making it easier to meet production commitments.

    “The changes will allow for greater flexibility and help Thailand, already a leader in the region’s auto industry, become a key base for electric vehicle production,” said Narit Terdsteerasukdee, secretary general of the Thai Board of Investment (BOI).

    The adjustments to the program come as total investment in the country’s EV supply chain as of June reached 137.7 billion baht (about US$4.21 billion), the BOI said in a statement.

    The move is expected to boost Thailand’s EV exports to around 12,500 units in 2025 and 52,000 units in 2026.

    In the first half of 2025, the number of new BEV registrations increased by 52.4 percent year-on-year to reach 57,289 units, accounting for 15 percent of all new vehicle registrations in Thailand.

    To date, the Thai government has provided subsidies totaling more than 12 billion baht (approximately $367.82 million) for 175,064 BEVs and 34,559 electric motorcycles under the EV 3.0 and 3.5 subsidy programs. –0–

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

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  • MIL-OSI Russia: China calls on EU to ensure fair, impartial and non-discriminatory business environment for Chinese companies

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — China calls on the European Union (EU) to provide a fair, impartial and non-discriminatory business environment for Chinese companies to invest in and trade with Europe, Ministry of Commerce spokesman He Yadong said at a press conference on Thursday.

    China, he said, hopes the EU will keep its market open, pay attention to the concerns of Chinese companies and show restraint in using restrictive trade and economic measures.

    He Yadong stressed that China will continue to expand high-level opening-up, continuously improve its own business environment, comprehensively ensure national treatment for foreign investors, and strengthen the protection of intellectual property rights to provide quality services to foreign-invested enterprises.

    China welcomes investments in its own economy from more European companies, expansion of their activities in the Chinese market and joint sharing of the country’s development opportunities, the department representative summed up. -0-

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  • MIL-OSI Analysis: Pacific tsunami: modern early warning systems prevent the catastrophic death tolls of the past

    Source: The Conversation – UK – By Ian Main, Professor of Seismology and Rock Physics, University of Edinburgh

    The earthquake in Russia’s Kamchatka peninsula on July 30 2025 may have been one of the most severe on record, with a magnitude of 8.8. But innovations in science and technology gave governments vital time to warn and evacuate their people from the resulting tsunami.

    Millions of people escaped to higher ground before the tsunami hit.

    The 2004 Boxing Day 9.3 magnitude earthquake and tsunami in Sumatra, which caused approximately 230,000 deaths, some as far away as Somalia on the other side of the Indian Ocean, shows how important these warnings are.

    Early warning systems were not in place for the Indian Ocean in time for the 2004 disaster. But there is now a system in place, with 27 countries participating in the group effort.

    The 2004 tsunami was particularly tragic because tsunami waves travel at a steady speed in the open ocean, about as fast as a jet plane. This means they can take several hours to reach shore across an ocean, with plenty of time for warning.

    An early warning system for the Pacific Ocean, based in Hawaii, was created in 1948 following a deadly tsunami two years before. On April 1 1946, the magnitude 8.6 Aleutian Islands earthquake in the northern Pacific Ocean generated a tsunami that devastated parts of Hawaii hours later, leading to 146 fatalities.

    The death toll was exacerbated by the leading wave being downwards. This happens in around 50% of tsunamis, and exposes the seashore in a similar way to when the tide goes out, but exposing a larger area than normal. People sometimes investigate out of curiosity, bringing them closer to the danger.

    The accuracy and response times of early tsunami warnings have significantly improved since 1948.

    How tsunamis happen

    To understand the work involved in protecting coastal communities, first you need to understand how tsunamis are generated.

    Tsunamis are caused by displacement of mass on the sea floor after an earthquake, landslide or volcanic eruption. This provides an energy source to set off a wave in the deep sea, not just near the surface like in the ocean waves we see whipped up by the wind and storms. Most are small. The Japanese word tsunami translates somewhat innocuously as “harbour wave”.

    Detailed global mapping of the sea floor, pioneered by US geologist Marie Tharpe between 1957 and 1978, helped establish the modern theory of plate tectonics. It also improved the physical models for how the tsunami will travel in the ocean.

    Wave height increases as it approaches the shore, and the topography of the sea floor can result in a complicated pattern of wave interference and concentration of the energy in stream-like patterns. The establishment of sea-floor observatories led to better data for the pressure at the sea floor (related to wave height) and satellite networks now directly monitor wave height globally using radar signals from space.

    One of the factors that has helped scientists predict the range of a tsunami includes the setting up of the worldwide standard station network of seismometers in 1963, which allowed better estimations of earthquake location and magnitude.

    These were superseded by the digital broadband global network of seismometers in 1978, which allowed more detail on the source to be calculated quickly. This includes a better estimate of earthquake size, the source rupture area and orientation in three dimensions.

    It also tells scientists about the slip, which controls the pattern of displacement on the sea floor. This data is used to forecast the time of landing, the amplitude of the wave on the shoreline, and its height in areas where the wave travels further inland.

    The Pacific Ocean warning system now has 46 countries contributing data. It also uses physical and statistical models for estimating tsunami height. The models developed as scientists learnt more about earthquake sources, mapped features on the sea floor and tested model forecasts against outcomes.

    Today’s technology

    The early warning systems we have today are due to a decades-long commitment to global research collaboration and open data. Scientists have also improved their forecast methods. Recently they started using trained AI algorithms which could improve the timeliness and accuracy.

    Pioneered by the US Geological Survey, rapid data sharing is now used routinely to estimate earthquake parameters and make them available to the public soon after the rupture stops. This can be within minutes for an initial estimate then updated over the next few hours as more data comes in.

    However, the forecast wave height is inherently uncertain, variable from place to place, and may turn out to be more or less than expected. Similarly, large earthquakes are rare, making it hard to estimate how likely they are on average, and therefore to design appropriate mitigation measures.

    The 2011 Tohoku earthquake and tsunami in Japan destroyed or overtopped the eight-metre high protective sea walls that had been put in place based on such hazard estimates. There were over 19,000 fatalities. As a consequence, their height has been increased to 12-15 metres in some areas.

    Early warning systems also rely on rapid communication to the public, including mass alerts communicated by mobile phone, coordination by the relevant authorities across borders, clear advice, and advance evacuation plans and occasional alarm tests or drills. Although tsunami waves slow down to the speed of a car as they approach the shore, it is impossible to outrun one, so it is better to act quickly and calmly.

    The effectiveness of warnings also means accepting a degree of inconvenience in false alarms where the tsunami height is less than that forecast, because this is inevitable with the uncertainties involved. For good reason, authorities issuing alerts will err on the side of caution.

    To give an example, nuclear power plants on Japan’s eastern seaboard were shut down on July 30.

    So far it looks like the Pacific early warning system – combined with effective levels of preparedness and action by service providers and decision makers – has worked well in reducing the number of casualties that might have happened without it.

    There will always be a level of uncertainty we will have to live with. On balance, it is a small price to pay for avoiding a catastrophe.

    Ian Main is professor of Seismology and Rock Physics at the University of Edinburgh. He receives funding from UK Research and Innovation Research Council, a member of the UK Office for Nuclear Regulation Expert panel on external hazards, and acts as an independent reviewer for the Energy Industry-funded SeIsmic hazard and Ground Motion Assessment research program SIGMA3.

    – ref. Pacific tsunami: modern early warning systems prevent the catastrophic death tolls of the past – https://theconversation.com/pacific-tsunami-modern-early-warning-systems-prevent-the-catastrophic-death-tolls-of-the-past-262283

    MIL OSI Analysis –

  • MIL-OSI Russia: The first Chinese-Russian choral festival opened in Suifenhe

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — Suifenhe, northeast China’s Heilongjiang Province, sparkled with new colors on July 30 thanks to an international cultural event – the grand opening of the first China-Russia Choir Festival.

    According to the city government website, the event was attended by about 500 Chinese and foreign artists and choral singing enthusiasts, representing 8 leading groups from Harbin Polytechnic University, Hong Kong, Shanghai, Anshan, Suzhou University, as well as Russian Vladivostok and Bolshoy Kamen /Primorsky Krai/.

    In his welcoming speech, Gao Jun, head of the Publicity Department of the CPC Suifenhe Municipal Committee, said that every corner of Suifenhe, which is the vanguard of China’s opening up to the north, is permeated with the atmosphere of spiritual intertwining of the peoples of the two neighboring countries. Eight Chinese and Russian choirs, like eight timbres merging into a single harmony, wrote notes in the camp of friendship on the Suifenhe stage.

    According to him, every sound becomes a new starting point for cultural mutual enrichment, and the warmth of mutual attraction of hearts penetrates into the souls of the peoples of the two countries.

    The festival is organized by the Suifenhe Cultural and Tourism Group and the Sing, China! New Choral Works Promotion Committee under the leadership of the Suifenhe City Department of Culture and Tourism.

    To ensure the professional level and international status of the festival, an authoritative jury of eight Chinese and foreign experts was formed. The festival program consists of 4 main blocks: the opening ceremony, competitive performances of high-level performers, master classes and an award ceremony. -0-

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

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  • MIL-OSI Russia: The first Chinese-Russian choral festival opened in Suifenhe

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — Suifenhe, northeast China’s Heilongjiang Province, sparkled with new colors on July 30 thanks to an international cultural event – the grand opening of the first China-Russia Choir Festival.

    According to the city government website, the event was attended by about 500 Chinese and foreign artists and choral singing enthusiasts, representing 8 leading groups from Harbin Polytechnic University, Hong Kong, Shanghai, Anshan, Suzhou University, as well as Russian Vladivostok and Bolshoy Kamen /Primorsky Krai/.

    In his welcoming speech, Gao Jun, head of the Publicity Department of the CPC Suifenhe Municipal Committee, said that every corner of Suifenhe, which is the vanguard of China’s opening up to the north, is permeated with the atmosphere of spiritual intertwining of the peoples of the two neighboring countries. Eight Chinese and Russian choirs, like eight timbres merging into a single harmony, wrote notes in the camp of friendship on the Suifenhe stage.

    According to him, every sound becomes a new starting point for cultural mutual enrichment, and the warmth of mutual attraction of hearts penetrates into the souls of the peoples of the two countries.

    The festival is organized by the Suifenhe Cultural and Tourism Group and the Sing, China! New Choral Works Promotion Committee under the leadership of the Suifenhe City Department of Culture and Tourism.

    To ensure the professional level and international status of the festival, an authoritative jury of eight Chinese and foreign experts was formed. The festival program consists of 4 main blocks: the opening ceremony, competitive performances of high-level performers, master classes and an award ceremony. -0-

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

    .

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  • MIL-OSI Russia: Global Adaptability of China’s Creative Industry as Seen by SCO Representatives

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    TIANJIN, July 31 (Xinhua) — China exported dolls and toy animals worth 47.63 billion yuan in 2024, up 4.9 percent year on year, data from the General Administration of Customs showed.

    Representatives of the Shanghai Cooperation Organization (SCO) countries believe that this not only shows that Chinese design is becoming increasingly recognizable around the world, but is also inseparable from China’s strong manufacturing industry and ideal support for its production chains.

    “Labubu is very popular among the youth of Kazakhstan. The surprise box meets the psychological needs of the youth and has become a new fashion trend in the world,” said Ekaterina Khvaniz of Kazakhstan, who studies at Tianjin University of Foreign Languages.

    Thanks to innovative design concepts and business models, China’s creative industry is now enjoying great popularity worldwide.

    In 2024, The Monsters series conquered global markets, generating over 3 billion yuan in revenue, with a year-on-year increase of 726.6%. This makes it the most successful IP in the company’s history.

    “Labubu showcases the uniqueness of Chinese creative products, breaking through language and cultural barriers and attracting many international consumers,” said Abdul Rahman, a Pakistani student at Tianjin University.

    It is worth noting that, thanks to digital technology, China’s cultural and creative products are quickly attracting the attention of the global audience through a younger, digital and interactive way.

    “Social platforms such as TikTok and Xiaohongshu and other e-commerce platforms are popular all over the world, introducing Chinese creative and cultural products to the world in a new way,” said Adel Baktygulova, a Kyrgyz student at Tsinghua University.

    According to the data, the operating income of China’s cultural industry and related industries exceeded 19 trillion yuan in 2024, a record high. The operating income of content development and production and creative design services increased by 8.4 percent and 7.2 percent, respectively. -0-

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

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  • MIL-OSI Russia: Global Adaptability of China’s Creative Industry as Seen by SCO Representatives

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    TIANJIN, July 31 (Xinhua) — China exported dolls and toy animals worth 47.63 billion yuan in 2024, up 4.9 percent year on year, data from the General Administration of Customs showed.

    Representatives of the Shanghai Cooperation Organization (SCO) countries believe that this not only shows that Chinese design is becoming increasingly recognizable around the world, but is also inseparable from China’s strong manufacturing industry and ideal support for its production chains.

    “Labubu is very popular among the youth of Kazakhstan. The surprise box meets the psychological needs of the youth and has become a new fashion trend in the world,” said Ekaterina Khvaniz of Kazakhstan, who studies at Tianjin University of Foreign Languages.

    Thanks to innovative design concepts and business models, China’s creative industry is now enjoying great popularity worldwide.

    In 2024, The Monsters series conquered global markets, generating over 3 billion yuan in revenue, with a year-on-year increase of 726.6%. This makes it the most successful IP in the company’s history.

    “Labubu showcases the uniqueness of Chinese creative products, breaking through language and cultural barriers and attracting many international consumers,” said Abdul Rahman, a Pakistani student at Tianjin University.

    It is worth noting that, thanks to digital technology, China’s cultural and creative products are quickly attracting the attention of the global audience through a younger, digital and interactive way.

    “Social platforms such as TikTok and Xiaohongshu and other e-commerce platforms are popular all over the world, introducing Chinese creative and cultural products to the world in a new way,” said Adel Baktygulova, a Kyrgyz student at Tsinghua University.

    According to the data, the operating income of China’s cultural industry and related industries exceeded 19 trillion yuan in 2024, a record high. The operating income of content development and production and creative design services increased by 8.4 percent and 7.2 percent, respectively. -0-

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

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    MIL OSI Russia News –

  • MIL-OSI Russia: Thematic presentation and business meeting on Russian projects held in Daqing

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — A thematic presentation of “Open Heilongjiang, Innovative Daqing” and a business meeting on Russian projects were held in Daqing, Heilongjiang Province, northeast China, on July 29.

    According to the news portal sohu.com, Liu Xiuli, an official of the Daqing municipal government, warmly welcomed the participants in her welcoming speech. She expressed hope that the event would strengthen the ties and contacts between Daqing and its partners, creating a long-term platform for local enterprises to cooperate in trade with Russia.

    At the business meeting, the Foreign Affairs Office of Daqing City presented the achievements and prospective plans for cooperation with the Russian Federation. Representatives of the city’s specialized companies held project presentations.

    Cheng Xiang, director of the Heilongjiang Provincial Center for Trade and Economic Cooperation with Russia, said the center will fully play a role as a link, providing Daqing enterprises with a range of services, including policy clarification, market analysis, vocational training, etc.

    Following the event, the delegation of the Center for Trade and Economic Cooperation with Russia in Heilongjiang Province held a working meeting with the Daqing City Commerce Department. The parties agreed to organize training for the city’s enterprises engaged in trade with Russia. -0-

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Thematic presentation and business meeting on Russian projects held in Daqing

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — A thematic presentation of “Open Heilongjiang, Innovative Daqing” and a business meeting on Russian projects were held in Daqing, Heilongjiang Province, northeast China, on July 29.

    According to the news portal sohu.com, Liu Xiuli, an official of the Daqing municipal government, warmly welcomed the participants in her welcoming speech. She expressed hope that the event would strengthen the ties and contacts between Daqing and its partners, creating a long-term platform for local enterprises to cooperate in trade with Russia.

    At the business meeting, the Foreign Affairs Office of Daqing City presented the achievements and prospective plans for cooperation with the Russian Federation. Representatives of the city’s specialized companies held project presentations.

    Cheng Xiang, director of the Heilongjiang Provincial Center for Trade and Economic Cooperation with Russia, said the center will fully play a role as a link, providing Daqing enterprises with a range of services, including policy clarification, market analysis, vocational training, etc.

    Following the event, the delegation of the Center for Trade and Economic Cooperation with Russia in Heilongjiang Province held a working meeting with the Daqing City Commerce Department. The parties agreed to organize training for the city’s enterprises engaged in trade with Russia. -0-

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

    .

    MIL OSI Russia News –