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Category: Scandinavia

  • MIL-OSI Global: Trump’s tariff and land grab threats signal U.S. expansionist ambitions

    Source: The Conversation – Canada – By Ilan Kapoor, Professor, Critical Development Studies, York University, Canada

    When U.S. President Donald Trump first suggested Canada should become the 51st American state, the federal government dismissed it as just a joke. Finance Minister Dominic Leblanc insisted it was “in no way a serious comment.”

    Similar skepticism was expressed by political leaders across the world when Trump talked about seizing Greenland and the Panama Canal in early January, by military force if necessary, to buttress U.S. national security. He also floated the idea of taking over Gaza to transform it into the “Riviera of the Middle East.”

    Now that Trump has carried through on his aggressive economic threats — launching a trade war with China and raising the possibility of similar conflicts with Canada, Mexico and the European Union — his imperialist expansionism is in plain sight.

    Canadian leaders have come to realize that Trump’s actions may not be a temporary or minor irritant, but rather an attack on Canadian sovereignty itself.

    The failure to take Trump’s words seriously is reminiscent of British Prime Minister Neville Chamberlain’s skepticism in 1938 that Hitler would actually risk world war despite the latter’s aggressive rhetoric, annexation of Austria and threats to Czechoslovakia and Poland.

    What, then, have been the signs of Trump’s expansionist tendencies? American economic and military might, albeit declining relative to emerging powers like China and India, still provides a solid basis for the projection of U.S. supremacy. But there are also two new key elements at play.

    A billionaire-corporate administration

    The Trump administration appears to operate with a distinctly corporate mindset, treating the nation like a business empire. Trump has stacked his administration with private sector leaders and corporate billionaires such as Elon Musk, Doug Burgum and Howard Lutnick.

    Like other billionaires, their immense business success has been founded not on mainstay competitive market practices like productivity or cost-cutting, but on predatory and cannibalistic ones.

    These include controlling resources like oil, gold, diamonds and coltan to secure production inputs; buying out competitors to monopolize markets and patents; and deliberately breaking up and destroying companies through mergers and acquisitions with little regard for the resulting job losses.

    It is within this framework that Trump’s allegations about buying Greenland and Gaza, annexing Canada through “economic force” and capturing the Panama Canal need to be seen.



    Read more:
    Billionaires and loyalists will provide Trump with muscle during his second term

    Under the guise of national security, the idea is not simply to safeguard borders, but to engage in economic expansionism and real estate development, aided by the U.S. military when needed. Taking control of land, waterways and mineral wealth is critical to building “America’s Golden Age” of corporate capitalism.

    This approach seems to be a mainly business one, with little concern for the social costs (recession, unemployment, violence) produced by such imperialistic ventures. In line with his infamous book, The Art of the Deal, Trump appears to view foreign nations and domestic opponents alike as obstacles to be callously bullied, degraded, manipulated, exploited and finally vanquished.

    American nationalist populism

    The Trump administration’s imperial ambitions lie in the nationalist populism that propelled Trump and his allies into power for the second time.

    Trump’s populism has successfully tapped into widespread anxieties among Americans — job insecurity, food prices, the housing crisis — by promising to soothe their worries through the “Make America Great Again” (MAGA) agenda.



    Read more:
    Trump’s view of the world is becoming clear: America’s allies come second to its own interests

    Like other right-wing populist movements around the globe — Recep Tayyip Erdoğan’s in Turkey, Viktor Orbán’s in Hungary and the Brexit campaign in the U.K. — the MAGA movement has sought to unify the U.S. by identifying and targeting perceived national enemies. These include so-called “illegal” migrants, transgender people and the country’s largest trading rivals: Mexico, Canada and China.

    By blaming these groups, especially those seen as contributing to America’s economic decline, MAGA whips up nationalist sentiment in the form of suspicion, aggression and vengeance. The result is a deeply polarized nationalist discourse in which one is either a loyal supporter or an enemy; a believer or a “woke” liberal.

    A lethal imperial set-up

    The combination of U.S. global power, nationalist populism and the Trump administration’s corporate-driven, predatory approach makes for a dangerous dynamic.

    This mix is fuelling a form of economic expansionism that is now beginning to manifest itself. The impending trade wars, potential dismantling of the U.S.-Mexico-Canada Trade Agreement (which Trump initiated in 2018 to avoid unilateral trade moves by its signatories) and the brazen disregard for the socioeconomic consequences of foreign territorial control, such as the forced displacement of Palestinians, are all signs of this.

    While many assumed Trump’s administration would be protectionist and isolationist, a more troubling and nefarious reality is emerging. His administration appears to be intent on securing America’s industrial dominance through trade wars while expanding it through hawkish economic imperialism.

    There is a clear ruthlessness to this approach, with a willingness to pressure not only America’s perceived enemies but also its allies. “America First” is starting to looks like “America Above All Others” as Trump attempts to bully U.S. rivals into subordination, with disturbing echoes of past authoritarians.

    Unravelling American imperial designs

    Many obstacles could prevent Trump’s aggressive expansionism from fully taking shape. While the key ingredients may already be there, and some have begun to be deployed, that doesn’t mean they will come to fruition.

    The Trump administration’s policymaking process is often chaotic and theatrical, prioritizing short-term political gains over long-term strategy. This instability undermines any consistent efforts at expansion.

    There is also the risk that Trump’s trade wars will backfire. They could end up causing hardship to U.S. companies and consumers through higher food and energy prices, job losses in key industries like agriculture and auto manufacturing, and increased stock market instability. Such consequences could negatively affect Trump’s corporate allies.

    Meanwhile, Trump’s economic and military rivals could forge new alliances to challenge his attempts at global supremacy. Prime Minister Justin Trudeau, for instance, recently met with the head of NATO and other European allies to strengthen trade and security ties.

    The first step to any countermoves by Trump’s foreign adversaries will be seeing his regime’s designs for what they are: chaotic, perhaps, but serious expansionist ones.

    Ilan Kapoor 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. Trump’s tariff and land grab threats signal U.S. expansionist ambitions – https://theconversation.com/trumps-tariff-and-land-grab-threats-signal-u-s-expansionist-ambitions-249924

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: PM call with President of Finland: 22 February 2025

    Source: United Kingdom – Executive Government & Departments

    Press release

    PM call with President of Finland: 22 February 2025

    The Prime Minister spoke to the President of Finland Alexander Stubb this afternoon.

    The Prime Minister spoke to the President of Finland Alexander Stubb this afternoon.

    The Prime Minister began by reiterating the need to secure enduring peace for Ukraine and bring an end to Russia’s illegal war.

    The leaders agreed the need for Europe to step up support to achieve this, and the Prime Minister said the UK is ready to play a role in future security guarantees.

    They agreed to stay in close contact.

    Updates to this page

    Published 22 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Economics: New energy vehicle market poised for growth driven by technological innovations, says GlobalData

    Source: GlobalData

    New energy vehicle market poised for growth driven by technological innovations, says GlobalData

    Posted in Automotive

    The automotive industry is undergoing a significant transformation, with hybrid and electric vehicles (EVs) at the forefront of this change. The new energy vehicle (NEV) market is dynamic in nature and is poised for growth as economic conditions improve and technological innovations continue to emerge, says GlobalData, a leading data and analytics company.

    According to GlobalData, the Battery Electric Vehicle (BEV) market in Europe and the Asia-Pacific (APAC) region experienced a period of stagnation in 2024; however, a robust rebound is projected for 2025.

    Madhuchhanda Palit, Automotive Analyst at GlobalData, comments: “The positive outlook is supported by declining interest rates and the introduction of more competitive vehicle offerings. In particular, government policies in China, including the purchase tax exemption extension until 2027 for NEVs, are expected to invigorate the market, with BEVs poised to play a dominant role in both the short and long term.”

    Moreover, recent upgrades to emission regulations, which impose stricter standards, will serve as significant catalysts for the adoption of NEVs. For example, India plans to implement the Corporate Average Fuel Economy (CAFE) phase 3 regulations in 2027 and phase 4 in 2032. These stringent fleet carbon dioxide (CO2) limitations will compel original equipment manufacturers (OEMs) to either enhance their internal combustion engine (ICE) powertrains or increase the sales of EVs within the passenger vehicle sector.

    Additionally, significant policy changes, particularly in China, are influencing the market dynamics. The purchase tax exemption and the introduction of a dual-invoice system for swappable battery vehicles are expected to enhance the appeal of EVs.

    Palit adds: “Government incentives, such as tax rebates and subsidies, play a crucial role in encouraging the adoption of EVs, as seen in the success stories of Norway and Denmark. In the US, the ongoing dilemma about policy change might create tricky and unfavorable conditions for domestic automakers and establish market dominance for Tesla.”

    Technological advancements are pivotal in driving the market forward. Toyota‘s launch of the world’s first hydrogen hybrid vehicle and CATL’s unveiling of the “Freevoy” supercharging hybrid battery exemplify the industry’s commitment to innovation. These developments, along with the standardization of hybrid technology by automakers like Toyota and Honda, are making new energy vehicles more accessible and appealing to consumers. The expansion of charging infrastructure and government incentives further supports the growth, addressing range anxiety, and increasing overall awareness of the benefits of NEVs among consumers.

    Palit concludes: “The future of hybrids and EVs looks bright, driven by a combination of favorable economic conditions, strategic policy changes, and breakthrough technological advancements. As the market share for ICEs declines, the rise of new energy vehicles is a testament to the industry’s adaptability to sustainable transportation solutions. Ongoing innovations in technology and infrastructure promise a greener and more efficient automotive landscape.”

    MIL OSI Economics –

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 21.02.2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    21 February 2025 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 21.02.2025

    Espoo, Finland – On 21 February 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 1,384,423 4.78
    CEUX – –
    BATE – –
    AQEU – –
    TQEX – –
    Total 1,384,423 4.78

    * Rounded to two decimals

    On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

    Total cost of transactions executed on 21 February 2025 was EUR 6,616,434. After the disclosed transactions, Nokia Corporation holds 255,830,208 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI: Kvika banki hf.: Landsbankinn’s acquisition of TM approved

    Source: GlobeNewswire (MIL-OSI)

    The Competition Authority has announced that a settlement has been reached with Landsbankinn regarding the acquisition of 100% of TM tryggingar’s share capital from Kvika bank. As a result, the conditions in the purchase agreement related to the approval of the Financial Supervisory Authority of the Central Bank of Iceland and the Competition Authority have been lifted. The transfer of the insurance company to Landsbankinn is scheduled for February 28, at which time Landsbankinn will pay Kvika bank the agreed purchase price.

    As stated in Kvika bank’s announcement on May 30, 2024, the agreed purchase price is ISK 28.6 billion, based on TM’s balance sheet at the beginning of 2024. The final purchase price will be adjusted to reflect changes in TM’s tangible equity from the beginning of 2024 until the closing date.

    Following the receipt of the purchase price, Kvika bank’s board intends to propose a special dividend to its shareholders at the Annual General Meeting on March 26. This proposal will be published alongside other board proposals for the AGM no later than March 5.

    Please note that this notice is a disclosure of inside information per article 17 of regulation (EU) No 596/2014 on market abuse (“MAR”), which is implemented into Icelandic law with the act on measures against market abuse No 60/2021.

    The MIL Network –

  • MIL-OSI: Landsbankinn hf.: Competition Authority approves Landsbankinn’s purchase of TM

    Source: GlobeNewswire (MIL-OSI)

    The Icelandic Competition Authority has approved the purchase by Landsbankinn of all share capital in TM tryggingar hf., with a condition set out in a settlement between the Bank and the Authority. Under the terms of the settlement, Landsbankinn agrees that special terms on insurance from TM will not be contingent upon a customer’s wages being paid to an account with the Bank. The condition of the purchase agreement for regulatory approval has thereby been satisfied. The Bank expects to assume ownership of TM following settlement with Kvika Bank hf. on 28 February 2025. 

    The purchase price, as provided for in the purchase agreement signed in May 2024, is ISK 28.6 billion and is based on the balance sheet of TM as at the beginning of 2024. The final purchase price is subject to a closing adjustment based on changes to the tangible equity capital of TM from the beginning of 2024 to the delivery date. 

    The MIL Network –

  • MIL-OSI USA: Sweater Weather in North America

    Source: NASA

    Despite global temperatures being well above normal in the third week of February 2025, a blast of frigid Arctic air spilled south across Canada into the central and eastern United States. The cold air came on the heels of a winter storm that pushed east across the Great Plains, Southeast, and Mid-Atlantic, bringing heavy snowfall to parts of Kentucky, West Virginia, North Carolina, Maryland, and Virginia.
    This map shows the extent of the cold snap on the morning of February 19. It was derived from the GEOS (Goddard Earth Observing System) model and represents air temperatures at 2 meters (about 6.5 feet) above the ground. The darkest blue areas are where the model indicates temperatures dropped to minus 22 degrees Fahrenheit (minus 30 degrees Celsius) or lower.
    In Antelope Creek, North Dakota, the National Weather Service reported a daytime low of -45°F (-43°C) on February 18. That same day, record-breaking cold hit both Bismarck and Minot, also in North Dakota, where temperatures plunged to -39°F and -33°F, respectively. Broad swaths of the Lower 48 faced temperatures that plummeted as much as 30-40°F below average for the time of year, according to news reports. National Weather Service offices issued cold weather advisories and extreme cold warnings for more than 93 million Americans, including people in Florida and Texas.
    The cold and snow in the United States came amid a period of unusual warmth in the Arctic. Arctic sea ice extent was at record lows for February, while temperatures in parts of Greenland and the Northwest Territories in Canada were running 15-30°F above average. Some researchers think that Arctic warming may contribute to cold weather outbreaks in the mid-latitudes by altering the polar vortex and the behavior of the jet stream, though meteorologist Bob Henson reported in Yale Climate Connections that “vigorous scientific debate” continues about this idea.
    NASA Earth Observatory image by Michala Garrison, using GEOS-5 data from the Global Modeling and Assimilation Office at NASA GSFC. Story by Adam Voiland.

    MIL OSI USA News –

  • MIL-OSI: Prosafe SE: Operational update – January 2025

    Source: GlobeNewswire (MIL-OSI)

    21 February – Fleet utilisation for January 2025 was 57 per cent.  

    Safe Notos and Safe Concordia operated at full capacity during this period, achieving 100% utilisation. Safe Eurus and Safe Zephyrus achieved a utilisation rate of 99% each.

    Safe Caledonia has commenced reactivation activities in Scapa Flow, UK, and will mobilise to the Captain Field, UK, within June 2025.

    Safe Boreas is in Norway preparing for relocation in Q2 2025 for a contract in Australia commencing between mid November 2025 and mid February 2026.

    Prosafe has entered into an agreement to sell Safe Concordia to an undisclosed party. The vessel is expected to be delivered to its new owner upon completion of her current charter obligations, within a window of March through June 2025. The sale of the vessel is subject to customary closing conditions and requirements.

    Safe Scandinavia remains laid up in Norway.

    Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to https://www.prosafe.com

    For further information, please contact:

    Terje Askvig, CEO
    Phone: +47 952 03 886

    Reese McNeel, CFO
    Phone: +47 415 08 186

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

    The MIL Network –

  • MIL-OSI: Notice of the annual general meeting of Tryg A/S

    Source: GlobeNewswire (MIL-OSI)

    The annual general meeting of Tryg A/S will be held on Wednesday 26 March 2025 at 15:00 CET at the company’s Head Office, Klausdalsbrovej 601, Ballerup, Denmark.

    The agenda is as follows:

    1. The Supervisory Board’s report on the company’s activities in the past financial year
    2. Presentation of the annual report for approval and granting of discharge of the Supervisory Board and the Executive Board
    3. Resolution on the appropriation of profit in accordance with the adopted annual report
    4. Indicative vote on the remuneration report for 2024
    5. Approval of the remuneration of the Supervisory Board for 2025
    6. Resolutions proposed by the Supervisory Board
      1. Decision on reduction of share capital
      2. Reduction and extension of the existing authorisation to increase the share capital, cf. Articles 8 and 9 of the Articles of Association
      3. Reduction and renewal of the existing authorisation to acquire own shares
      4. Adjustment of the decision on indemnification
      5. Approval of remuneration policy
      6. Expanding the number of members of the Supervisory Board
      7. Election of members to the Supervisory Board
      8. Appointment of auditor and sustainability auditor
      9. Authorisation of the chair of the meeting
      10. Miscellaneous

        11. For further details, please see attached notice of the annual general meeting (AGM).

        Attachment

      The MIL Network –

  • MIL-OSI: Finnvera Group’s Report of the Board of Directors and Financial Statements 2024 – Level of financing reduced from previous year, expectations of future demand positive – Result EUR 228 million

    Source: GlobeNewswire (MIL-OSI)

    Finnvera Group, Stock Exchange Release, 21 February 2025

    Finnvera Group’s Report of the Board of Directors and Financial Statements 2024

    Level of financing reduced from previous year, expectations of future demand positive – Result EUR 228 million

    Finnvera Group, summary 2024 (vs. 2023)

    • Result 228 MEUR (433) – The result for the period under review was strong for all business operations. Net interest income grew by 20% and net fee and commission income by 12%. During the period under review, Finnvera was able to partially reverse loss provisions for export credit guarantees and special guarantees, which have had a significant impact on the company’s result in recent years, especially those relating to cruise shipping companies. The reference period saw larger reversals of loss provisions than the period under review.
    • Result by business operations: Result of parent company Finnvera plc’s SME and midcap business stood at 23 MEUR (55) and that of Large Corporates business at 173 MEUR (351). The impact of Finnvera’s subsidiary, Finnish Export Credit Ltd, on the Group’s result was 32 MEUR (27).
    • The cumulative self-sustainability target set for Finnvera’s operations was achieved.
    • The balance sheet total EUR 14.8 bn (14.3) increased by 3%.
    • Contingent liabilities decreased by 9% and stood at EUR 14.9 bn (16.4).
    • Non-restricted equity and the assets of the State Guarantee Fund, which provide the Group’s reserves for covering potential future losses, increased by 12% and totalled EUR 2.1 bn (1.9).
    • Expected credit losses on the balance sheet were reduced by 4% to EUR 1.1 bn (1.2).
    • The NPS index (Net Promoter Score) used to measure client satisfaction improved by 15 points to 79 (64).
    • Outlook for 2025: The business outlook for cruise shipping companies continued to improve in 2024. The credit loss risk of export financing liabilities remains high, however, which causes uncertainty concerning the Finnvera Group’s financial performance in 2025.
    Finnvera Group, year 2024 (vs. 2023)
    Result
    228 MEUR
    (433), change -47%    		 Balance sheet total
    EUR 14.8 bn
    (14.3), change 3%
    Contingent liabilities
    EUR 14.9 bn
    (16.4), change -9%    		 Non-restricted equity and
    the assets of The State Guarantee Fund
    EUR 2.1 bn (1.9), change 12%
    Expense-income ratio
    17.3%
    (19.4), change -2,1 pp    		 NPS index
    (net promoter score)
    79
    (64), change 15 points

    Comments from CEO Juuso Heinilä: 

    “Year 2024 was challenging for the Finnish economy, even if a cautious improvement could be observed in the early part of the year. Finland’s key export markets were also affected by a downturn, which dampened Finnish export companies’ prospects. While interest rates dropped and inflation decreased, geopolitical uncertainty persisted.

    Finnvera granted EUR 0.9 billion (1.8) in domestic loans and guarantees in 2024. The significant decrease in financing from the previous year is due to a major individual amount of working capital financing granted to a large corporate in the reference period. The level of SME and midcap financing was similar to the reference period. The largest share of funding by sector was granted to industry, and the regional drivers were the Helsinki Metropolitan Area and Lapland. Financing for investments did not reach the previous year’s level. The level of financing for corporate acquisitions and transfers of ownership was also lower than in previous years.

    A total of EUR 73 million (36) was granted in climate and digitalisation loans intended for green transition and digitalisation projects under the InvestEU guarantee programme. These loans were first granted in June 2023. To ensure that companies of all sizes have access to financing, we launched loans for micro-enterprises’ growth as a pilot project at the beginning of October 2024. Over three months, EUR 6 million in these loans was granted to micro-enterprises. The pilot project will continue until the end of March 2025, after which we will reassess the availability of financing for small companies.

    In accordance with Finnvera’s strategy, 92% of domestic financing was allocated to start-ups, SMEs seeking growth and internationalisation, investments, transfers of ownership, export and delivery projects, and SME guarantee projects. The long period of economic uncertainty eroded SMEs’ liquidity and increased the number of applications for corporate restructuring and bankruptcy.

    Finnvera granted export credit guarantees, export guarantees and special guarantees amounting to EUR 2.9 billion (5.4). The lower amount of export financing reflected the post-cyclical nature of Finnish exports and reduced demand for exports. Annual fluctuations are also always influenced by the timing of large individual export transactions. In particular, financing was granted to companies in the telecommunications, cruise shipping and mining sectors.

    Largest export credit guarantee agreement related to telecommunications sector in Finnvera’s history was signed in April concerning Nokia’s deliveries for the Indian 5G network worth USD 1.5 billion. In the mining sector, we financed Sibanye-Stillwater’s Keliber lithium project with a Finance Guarantee, which can be granted for domestic investments that support exports. In the energy sector, we financed Wärtsilä’s deliveries of energy storage systems for solar and wind power projects in the United States and Chile. These mining and energy projects, whose total value was approx. EUR 500 million, were the first export financing projects compliant with Finnvera’s climate criteria. Towards the end of the year, Finnvera participated in Meyer Turku’s construction financing that amounted to around EUR 1 billion for the Icon 3 ship.

    Finnish Export Credit Ltd, which is Finnvera’s subsidiary, granted EUR 0.6 billion in export credits (0.5) in 2024. While the demand for export credits increased slightly, it remains significantly lower than in pre-pandemic years. An increasing number of export transactions are financed by a bank to which Finnvera grants a guarantee.

    2024 was a successful year for Finnvera. The Finnvera Group’s result was EUR 228 million (433). The SME and midcap business, export credit guarantee and special guarantee operations, and subsidiary Finnish Export Credit Ltd turned a profit. Finnvera also built up its reserves for possible future losses. The business outlook for the cruise shipping sector, which is important for Finnvera’s export credit guarantee exposure, has continued to improve. Repayments have also helped to reduce exposure relating to Russia. In recent years, Finnvera has been able to partially reverse loss provisions for export financing, which have had a significant impact on the Group’s financial performance since 2020. The reversal of loss provisions has especially impacted the good results for the last two financial periods.

    As a result of crises affecting the global economy, the difficulties faced by some companies around the world and in various sectors have built up to form an insurmountable obstacle. During the period under review, Finnvera incurred major export credit guarantee losses in two cases. Our mission is to bear the risks of export companies. Our core business enjoys a high level of profitability, building up our reserves and creating preconditions for enabling companies’ growth and exports. However, the credit loss risks of exposure relating to export financing remain high, which may affect Finnvera’s future financial performance and reserves.

    We continued to develop our operations and services in line with our strategy in 2024. The ongoing upgrade of our basic information systems supports the digitalisation of services and a good client experience. Our client satisfaction reached an exceptionally high level, as did our personnel satisfaction. We invested in accelerating the growth of midcap enterprises in close cooperation with the European Investment Bank and the Tesi Group, and worked together with the Team Finland network and Business Finland to promote exports. We maintained export financing expertise, especially in SMEs and midcap enterprises, and we brought out new export financing instruments to ensure the availability of financing. The overhaul of the legislation applicable to Finnvera, which is included in the Government Programme and which is extremely important in terms of developing Finnvera’s operations and the competitiveness of export financing, was circulated for comments.

    We advanced our sustainability measures based on our goals in 2024. We joined the Net-Zero ECA Alliance of export credit agencies, which enables us to focus on the sustainability theme and enhance our impact through international cooperation. We developed Finnvera’s sustainability reporting as planned.

    In 2025–2028, our new strategy adopted by the company’s Board of Directors at the end of the year will emphasise increasing the volume of Finnish exports and the number of exporters as well as enabling growth and new business. The achievement of these goals will be supported by our competent personnel and management as well as client-oriented digitalisation. Finnvera contributes to ensuring that Finnish companies are able to invest, develop their products and get their products out around the world. This is a prerequisite for ensuring that we can continue to look after our welfare in Finland in the future.”

    Finnvera Group Financing granted, EUR bn 2024 2023 Change, %
    Domestic loans and guarantees 0.9 1.8 -51%
    Export credit guarantees, export guarantees and special guarantees 2.9 5.4 -47%
    Export credits 0.6 0.5 15%
    The fluctuation in the amount of granted financing is influenced by the timing of individual major financing cases.

    The credit risk for the subsidiary Finnish Export Credit Ltd’s export credits is covered by the parent company Finnvera plc’s export credit guarantee.
    Exposure, EUR bn 31 Dec 2024 31 Dec 2023 Change, %
    Domestic loans and guarantees 2.9 3.0 -4%
    Export credit guarantees, export guarantees and special guarantees 21.1 23.4 -10%
    – Drawn exposure 14.3 14.2 1%
    – Undrawn exposure 4.4 4.5 -2%
    – Binding offers 2.4 4.7 -49%
    Parent company’s total exposure 24.0 26.4 -9%
    Contract portfolio of export credits 10.2 11.0 -8%
    – Drawn exposure 6.5 7.3 -11%
    – Undrawn exposure 3.7 3.7 -2%
    The exposure includes binding credit commitments as well as recovery and guarantee receivables.

    Financial performance 

    The Finnvera Group’s result for 2024 was EUR 228 million (433). Finnvera’s result was strong for all business operations. EUR 46 million of the total result was generated in the last quarter of the year, and EUR 182 million between January and September. Compared to the year before, the result was most significantly affected by the changes in the amount of expected losses, or loss provisions. Loss provisions have had a significant impact on the Group’s result in recent years. Finnvera was able to partially reverse its loss provisions for export credit guarantees and special guarantees in 2024, especially those relating to cruise shipping companies. In the reference period, Finnvera was able to reverse more loss provisions than in the review period, which led to an exceptionally good result in 2023. The result for the review period was also significantly affected by higher net interest income and fee and commission income as well as changes in the value of items recognised at fair value through profit or loss.

    The Group’s realised credit losses and change in expected losses totalled EUR 49 million during the review period, whereas the corresponding item was positive with a value of EUR 210 million during the reference period. The realised credit losses of EUR 121 million (128) were slightly lower than in the reference period. During the period under review, two larger individual export credit guarantee compensations were paid. Expected losses, or loss provisions, decreased by EUR 51 million (320), of which the reversal of loss provisions for export credit guarantee and special guarantee operations accounted for EUR 74 million (376). Credit loss compensation from the State covering losses in domestic financing totalled EUR 20 million (18).

    Compared to the year before, the Group’s net interest income increased by 20% to EUR 139 million (115) and net fee and commission income by 12% to EUR 198 million (177). The higher level of market interest rates was a particularly important factor affecting the increased net interest income. The most significant factors increasing the net fee and commission income were recognition of guarantee premiums for reimbursed export and special guarantees and prepayments of individual liabilities as well as the reimbursement of insurance premiums received as a result of the cancellation of reinsurance contracts. The changes in the Group’s value of items recognised at fair value through profit or loss and net income from foreign currency operations amounted to EUR 8 million (-9).

    After the result of the period under review, the parent company’s reserves for domestic operations as well as export credit guarantee and special guarantee operations for covering potential future losses amounted to a total of EUR 1,878 million (1,676) at the end of December. These reserves, which also cover the credit risk of export credits granted by the subsidiary, consisted of the following: the reserve for domestic operations, EUR 432 million (405) as well as the reserve for export credit guarantees and special guarantees and the assets of the State Guarantee Fund for covering losses, totalling EUR 1,446 million (1,272). The State Guarantee Fund is an off-budget fund whose assets include the assets accumulated from the activities of Finnvera’s predecessor organisations. Under the Act on the State Guarantee Fund, the Fund covers the result showing a loss in the export credit guarantee and special guarantee operations if the reserve funds in the company’s balance sheet are not sufficient. The non-restricted equity of the subsidiary, Finnish Export Credit Ltd, amounted to EUR 230 million (198) at the end of December.

    Finnvera Group
    Financial performance    		 2024
    MEUR    		 2023
    MEUR    		 Change
    %    		 Q4/2024
    MEUR    		 Q4/2023
    MEUR    		 Change
    %
    Net interest income 139 115 20% 37 33 10%
    Net fee and commission income 198 177 12% 50 40 24%
    Gains and losses from financial instruments carried at fair value through P&L and foreign exchange gains and losses 8 -9 – -2 -5 -54%
    Net income from investments and other operating income 0 1 -95% 0 0 -23%
    Operational expenses -53 -50 6% -16 -14 12%
    Other operating expenses, depreciation and amortisation -7 -5 35% -3 -1 118%
    Realised credit losses and change in expected credit losses, net -49 210 – -19 209 –
    Operating result 236 439 -46% 47 262 -82%
    Income tax -8 -6 45% -1 -1 4%
    Result 228 433 -47% 46 261 -82%

    Outlook for financing 

    The worst of the recession is behind us, and the Finnish economy is forecast to start growing in 2025. Great expectations are currently placed on the improved outlook for exports as well as the growth and renewal of the entire business sector.

    We expect that the demand for Finnvera’s domestic financing will increase, including more and more financing for investments, as the economic upturn drives a need for more production capacity. Due to the long-standing uncertainty, the economic position of many companies is weak. Finnvera’s role is stressed in arranging financing and sharing the risk with other providers of financing.

    We encourage companies to grasp the growth opportunities created by the green transition with the help of our climate and digitalisation loans and other incentives for sustainable financing. We will continue piloting loans for micro-enterprises’ growth projects until the end of March 2025. While we expect the high demand for the loans to continue, we will reassess small companies’ access to financing after the conclusion of the pilot. Finnvera strives to be active wherever our input is needed to arrange access to financing.

    We expect that the demand for export credit guarantees will start growing in 2025 and that this growth will continue in 2026. Exportation of investment goods, which is vital for Finland’s exports, is post-cyclical and the increase in demand will be reflected in export credit guarantees granted by Finnvera with a delay. Positive signs can already be seen in several sectors, however. Finnvera plays an important role in granting guarantees for long-term trade. We encourage export companies to seek growth in emerging and new markets and to rely on Finnvera for financing export transactions and risk hedging. We will continue to grant export credit guarantees to Ukraine as part of Finland’s national reconstruction programme for the country.

    Finnvera, the Tesi Group and Business Finland will step up their cooperation with the goal of boosting companies’ growth, exports, and the impact of financing. We will continue to work actively together with Team Finland and promote the growth and internationalisation of companies, also while the renewal of public export functions is underway. Finnvera’s Trade Facilitators strive to bring together foreign buyers and Finnish exporters and to promote trade using Finnvera’s export financing together with Business Finland. The aims also include increasing the number of midcap enterprises in Finland.

    Outlook for 2025

    The business outlook for cruise shipping companies continued to improve in 2024. The credit loss risk of export financing liabilities remains high, however, which causes uncertainty concerning the Finnvera Group’s financial performance in 2025.

    Further information:

    Juuso Heinilä, CEO, tel. +358 29 460 2576

    Ulla Hagman, CFO, tel. +358 29 460 2458

    Finnvera publishes the Report of the Board of Directors and its financial statements as an XHTML file compliant with the European Single Electronic Format (ESEF) requirements. Auditor Ernst & Young Ltd has issued an independent assurance report that provides reasonable assurance concerning Finnvera’s ESEF financial statements. The XHTML file is available in Finnish and English. Finnvera additionally publishes the report and financial statements in PDF format.

    ESEF Report 2024 (ZIP)

    Finnvera Group’s Report of the Board of Directors and Financial Statements 1 January – 31 December 2024 (PDF)

    Distribution: NASDAQ Helsinki Ltd, London Stock Exchange, key media, www.finnvera.fi

    The report is available in Finnish and English at www.finnvera.fi/financial_reports

    Attachments

    The MIL Network –

  • MIL-OSI United Nations: What have we learned from the global indicator framework for the 2030 Agenda? Side event of the 56th session of the UN Statistical Commission

    Source: United Nations Economic Commission for Europe

    The SDG process has been a unique endeavor for statistical systems, demanding coordination, collaboration, and innovation from all stakeholders involved in providing SDG statistics. As we approach 2030, it is essential to reflect on key lessons from this experience—identifying opportunities for improvement and leveraging insights to strengthen the post-2030 monitoring framework.

    The UNECE Steering Group on Statistics for SDGs has undertaken a comprehensive review of the lessons learned in producing SDG statistics. Now, the group aims to share these findings with 2030 Agenda stakeholders.

    This side event will provide a holistic view of the strategies and approaches used to generate SDG statistics, offering key insights through a national lens while also considering regional and global perspectives. It will highlight critical takeaways from the SDG process and foster discussions on shaping the next monitoring framework by building on the strengths and addressing the challenges of the current system.

    Find more information on the side event calendar of the 56th session of the United Nations Statistical Commission.

    Organizers: Statistics Poland, Statistics Sweden & UNECE

    Key resources:

    MIL OSI United Nations News –

  • MIL-OSI: Notice to annual general meeting in Konsolidator A/S

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no 6-2025

    Søborg, February 21, 2025

    Notice to annual general meeting in Konsolidator A/S

    Notice is hereby given to shareholders in Konsolidator A/S of the annual general meeting, which is scheduled for March 13, 2025 at 15:00, at Vandtårnsvej 83A, 2., DK-2860 Søborg. Shareholders who are not able to attend the general meeting will be able to follow the live webcast of the general meeting by a link, which will be available from March 7, 2024 on the Konsolidator investor site.

    Enclosed please find notice and agenda for the annual general meeting.

    Attachments

    • Notice to ordinary general meeting 2025 / Indkaldelse til ordinær generalforsamling 2025
    • Ordering of admission card / Bestilling af adgangskort
    • Proxy and postal vote form / Fuldmagt og brevstemme
    • Appendix 1 / Bilag 1

    For further information please contact the company.

    Contacts

    Certified Adviser

    About Konsolidator
    Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL

    Attachments

    The MIL Network –

  • MIL-OSI Russia: Comrade Sergeant, you have a letter… An exhibition for February 23 has opened at NSU

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    The main idea of the exhibition is to introduce students and teachers of NSU to unique and warm stories that were born during the years of student conscription into the army on the eve of Defender of the Fatherland Day.

    Preparations for organizing the memorial exhibition began last summer. The staff Museum of the History of NSU together with interested students Humanitarian Institute of NSUletters, photographs and telegrams were selected, and data on where exactly the students served in those years was systematized. One of the schoolgirls from Lyceum No. 130 of Akademgorodok also took part in this work.

    — This exhibition tells about the 1980s, when our students began to be called up en masse for military service. If you look at the statistics, before the 1980s, individual students were sent to the army, mainly from the Humanities Faculty, where there was no military department, and after receiving their diplomas. Since 1984, they began to recruit students from all faculties where the guys studied full-time, — says Lidiya Vorobtsova, director of the NSU History Museum.

    NSU was fundamentally different from other universities in its attitude towards those guys who were called up. If we take the statistics of the call-up, then almost 96% of all servicemen returned to study at NSU: in the 1980s, 2110 students were called up, and 2013 of them returned after service to complete their studies at NSU, that is, almost all. If we take the statistics of other universities in the country, then on average about 70% of guys returned.

    — Credit should be given to those who were in charge of communication with our students. Evgeniya Vasilyevna Ulyanova headed this headquarters, which gathered active girls and the remaining guys from the groups from which students were called up, so that the connection with those who left would not be broken. They wrote letters, sent photos, talked about their lives and even sent textbooks and manuals. In addition, there were propaganda teams, which included guys from NSU humor clubs, they went to military units. In response, good news and gratitude came from their places of service that the called up guys were not forgotten, not crossed out from the ranks of NSU students, — adds Lidiya Vorobtsova.

    The exhibition presents letters, postcards, telegrams from places of service, clippings from photo albums, among them are the faces of young boys, in whom one can recognize current professors and teachers of NSU. As well as military uniforms of that time from the collection of the Integral Museum-Apartment of the History of Akademgorodok.

    Many of those who served in the army in the 80s as students now work at the university and in the research institutes of the Siberian Branch of the Russian Academy of Sciences. They shared their memories of that time with us, and told us how their military service influenced their future lives and professional activities.

    — I joined the army in 1984, when NSU drafted about 70-80% of all the guys studying in different faculties after the second year. We spent a long time, 2-3 days for sure, at the distribution point, then traveled for a long time to our place of service by train. We didn’t know where we were being taken. When we crossed the entire country, got to Murmansk and didn’t stop there, our mood began to fall, and we had only one thought: “Where should we go, the border is coming soon.” When the railway ended, we finally stopped. Our place of service was the village of Pechenga on the Kola Peninsula. We go to the bathhouse — the sun is standing, we leave the bathhouse — everything is the same, over our heads, it goes in circles all day and doesn’t set. That’s how we ended up behind the Arctic Circle in the conditions of the polar day and night, — recalls his years of service in the army Evgeny Sagaydak, head of the education export department at NSU and a graduate. Faculty of Mechanics and Mathematics of NSU.

    Evgeny Ivanovich ended up in a specialized mountain motorized rifle battalion, where the guys were taught literally everything, including how to shoot any small arms that existed at the time. I remember the moments of the evening roll call, when they went on duty. As a rule, this happened at eight o’clock in the evening. The soldiers had a sign: when they saw the Northern Lights on a polar night, it meant that the night would be cold and the next day too.

    — Some of the warmest memories from the years of service in the army were communication with the university. We wrote, and they wrote to us. The management sent the newspaper “University Life”, for various holidays — postcards and appliques, and New Year’s greetings were especially significant – each postcard had the real signature of the NSU rector. That is, at one point, stacks of these postcards were brought to his reception room, and he signed each one by hand, — Evgeny Sagaydak shares his memories.

    The period of military service became a good school of life for the guys.

    — The ability to communicate, the ability to stand up for yourself and rely on your own strength, on your closest friends and colleagues. Over two years of service, you matured, understood what life is, what you really want to do next. That is why 96% of all conscript students returned to study, because they wanted to study further, wanted to learn new things and did it successfully, — emphasizes Evgeniy Sagaydak.

    Naimjon Ibragimov, graduate Faculty of Economics, NSU 1990 and deputy dean of the Faculty of Economics of NSU, served in the Chita region, in the village of Olovyanny-3, in the strategic missile forces.

    — Far from home, we, Novosibirsk students, were united by something greater. Even when we served in different units and met by chance only at training camps, smiles never left our faces, we encouraged each other, shared news. I remember that every month in the unit we were given 13 rubles. We always wanted something sweet, so we went to the soldiers’ buffet, or “chipok” in other words, bought waffles and accidentally met our own, which made it even more pleasant.

    I remember the physical and volitional loads that were much easier for the students from the dormitory than for those who lived at home during their studies. We were already adapted to strict timings, when, for example, we had to have breakfast or lunch very quickly in order to then complete strategic tasks or run to another unit.

    The university skills that we managed to acquire helped us quickly expand our circle of acquaintances and find a common language with the unit’s leadership, so first the Physics and Mathematics School, and then the first and second years allowed us to cope with the difficulties of army life quite quickly and successfully, and quickly find solutions in difficult situations, says Naimdzhon Ibragimov.

    Naimdzhon Mulaboevich also notes that the university was distinguished by its attitude towards students who ended up in the army. None of the guys from other universities who served in his unit received letters of support.

    — It was the uniqueness of NSU that gave rise to a feeling of pride for our university. I express my gratitude to the university and the teachers who supported us with regular letters so that we felt that the university was waiting for us.

    Pavel Logachev, graduate Physics Department of NSU 1989, Director of the INP SB RAS, Academician of the Russian Academy of Sciences, graduated from the Physics and Mathematics School with almost excellent marks, he solved all the problems of the entrance exams to the universities where a deferment from military service was provided (at Moscow State University and Moscow Institute of Physics and Technology), so he could choose any of them. However, he deliberately did not go to Moscow.

    — When I entered Novosibirsk University in 1982, I understood perfectly well that I would be drafted into the army in 1984. I planned to work at the Institute of Nuclear Physics — and nowhere else. To do this, I needed to study at the Physics Department of NSU.

    After the first two courses, I was drafted into the army. I served for a short time – only two days and two nights – polar. Time flew by, the army experience I gained was also important and interesting. I do not regret that I honestly gave these two years to the country. We served in the north of the Murmansk region, not far from the border with Norway, in a regular motorized rifle regiment. However, the regiment was fully staffed and had a large number. We regularly had combat exercises, so we learned to shoot from the weapons assigned to us and honed our skills in various training sessions.

    As for learning, of course, any experience requires constant practice. If you don’t do something, skills are lost, but they can be restored later.

    I would like to thank the university separately for the informal, but very important and effective work it did with the students who had gone into the army, and they were the majority. The remaining boys and girls regularly wrote us letters, told us about life at the university and sent us fresh issues of the newspaper “University Life”. This was extremely important for us. Moreover, during the two years of service, delegations from NSU came to us three times. The visiting students told us what was happening at the university and reminded us that we were expected there. I do not know anyone from those with whom I served who did not return to the university after the army. Everyone continued their studies and completed them, – Pavel Logachev shares his memories.

    The staff of the NSU History Museum would like to thank Svetlana Dovgal, Director of the NSU Career Development Center, Elena Krasilova, Head of the Department of Youth Policy and Educational Work, and Anastasia Bliznyuk, Director of the Integral Museum-Apartment of the History of Akademgorodok, for their assistance in organizing the exhibition.

    You can immerse yourself in archival data, read warm letters and view the exhibition until February 28 in the light window near auditorium 2322 (3rd block, Pirogova St., 1).

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

    MIL OSI Russia News –

  • MIL-OSI: TGS Awarded 4D Streamer Acquisition Contract in the Barents Sea

    Source: GlobeNewswire (MIL-OSI)

    OSLO, Norway (21 February 2025) – TGS, a leading provider of energy data and intelligence, is pleased to announce the award of a 4D streamer contract acquisition project in the Barents Sea covering the Goliat 4D field operated by Vår Energi. The Goliat 4D project is scheduled to start in July with a total duration of approximately 20 days.

    Kristian Johansen, CEO of TGS, commented, “We are very pleased to secure more 4D work on the Norwegian continental shelf for the 2025 summer season. We already have secured one contract in the Barents Sea with a duration of approximately 45 days, and this award is scheduled to be acquired back-to-back. Adding on the recently announced multi-client project, we have built a solid Barents Sea acquisition campaign.“

    For more information, visit TGS.com or contact:

    Bård Stenberg
    VP IR & Communication
    Mobile: +47 992 45 235
    investor@tgs.com

    About TGS
    TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).

    Forward Looking Statement
    All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

    The MIL Network –

  • MIL-Evening Report: The promise of green iron, steel and ammonia is keeping the green hydrogen dream alive

    Source: The Conversation (Au and NZ) – By Changlong Wang, Research fellow in Civil and Environmental Engineering, Monash University

    D.Alimkin, Shutterstock

    Hydrogen was once sold as a universal climate fix — a clean, green wonder fuel for cars, homes, power grids and even global export. But reality has cooled that buzz.

    This week, the South Australian government shelved plans for a A$593 million hydrogen power plant, in favour of injecting that money into the $2.4 billion Whyalla steelworks rescue package. Premier Peter Malinauskas said there was “no point in producing hydrogen” without a customer: the steelworks.

    It’s the latest in a series of setbacks for hydrogen. Last year, Australian mining and energy giant Fortescue pared back its green hydrogen projects as a result of increasing costs and changing financial circumstances in the United States.

    Then, gas and oil heavyweight Woodside withdrew plans for two large-scale green hydrogen projects and Origin Energy dropped out of the Hunter Valley Hydrogen Hub.

    Meanwhile, the Hydrogen Energy Supply Chain project in Victoria, meant to ship hydrogen to Japan, has met with delays and overruns. Earlier this month, the new Queensland government chose to halt further investment in the Central Queensland Hydrogen Project, putting plans to export hydrogen in doubt.

    These setbacks show hydrogen isn’t the ultimate solution to all our energy needs, especially if we want to export it. But they don’t spell doom. Instead, they nudge us toward where hydrogen really shines: in heavy industry, right where it’s made.

    Heavy industry: where hydrogen makes sense

    Heavy industries such as steel manufacturing and ammonia production are where hydrogen proves its worth. These sectors are significant contributors to climate change — steel accounts for about 8% of global greenhouse gas emissions, ammonia a further 2%.

    Most emissions from steelmaking come from burning coal in blast furnaces to convert ore into iron and carbon dioxide.

    In a cleaner alternative, hydrogen (when produced using renewable energy) can be used to strip oxygen from the ore and make iron, with water as a byproduct. The result is green iron, ready to be turned into steel in an electric arc furnace – with a fraction of the emissions.

    Ammonia is used to make fertiliser and industrial chemicals, and hydrogen is one of the main ingredients in its production. Hydrogen bonds with nitrogen from the air to form ammonia. No hydrogen, no ammonia — it’s that simple. Conventional ammonia plants get hydrogen from methane, producing CO₂ in the process. Green ammonia uses renewable energy to produce hydrogen by splitting water via electrolysis.

    Our recent research crunched the numbers on producing these new green commodities. We found making green iron in Australia with hydrogen and shipping it to Europe for steel production could be 21% cheaper than exporting raw iron ore and hydrogen separately. Plus, it could cut emissions by up to 95% compared to traditional methods.

    There are huge economic opportunities for Australia too. Instead of shipping low-value raw materials, Australia could export ready-to-use green iron or green steel, reshaping global supply chains while cutting costs and carbon. That’s the kind of rethink hydrogen enables.

    Industry hubs: a practical fix

    Transporting hydrogen long distances is costly and inefficient. The fix? Industry hubs that produce hydrogen right where it’s needed — next to steel mills, ammonia plants, desalination plants, water treatment plants or even aluminium smelters. Putting producers and consumers together slashes transport costs and unlocks efficiencies.

    We’ve built tools to pinpoint places with the greatest potential to produce these new green commodities.

    The Hydrogen Economic Fairways Tool maps where renewable energy, infrastructure and industrial sites align for cost-effective hydrogen production.

    The Green Steel Economic Fairways Mapper zooms in on prime locations for green steel, spotlighting places such as Eyre Peninsula in SA and the Pilbara in Western Australia, among others (see below). These locations have abundant wind and solar resources alongside an existing industrial base.

    The Green Steel Economic Fairways Mapper compares the levelised cost of steel, including production and transport to the port. a) Regional changes across Australia b) Example of how to optimise the system to minimise the levelised cost of producing 1 million tonnes per annum c) Breakdown of costs d) Hourly system performance, in terms of energy flows.
    Green Steel Economic Fairways Mapper, Geoscience Australia

    Challenges remain

    Green hydrogen promises to revolutionise heavy industries, but significant hurdles stand in the way of widespread domestic adoption. The biggest challenge comes from the unpredictable nature of renewable energy, which makes it hard to maintain the steady hydrogen supply industries need.

    The costs remain steep, too. Splitting water into hydrogen using renewable electricity isn’t cheap, particularly when you need backup storage systems to keep production going during cloudy or windless periods.

    Getting hydrogen where it needs to go poses another major challenge. As hydrogen is both bulky to transport and highly flammable, it requires special handling and infrastructure, driving up costs, especially for facilities far from production sites.

    Many companies also hesitate to invest in hydrogen-compatible equipment, as retrofitting existing plants or building new ones requires substantial upfront costs without guaranteed returns.

    The $2.4 billion rescue package for the Whyalla Steelworks (ABC News)

    Government backing: a push in the right direction

    Thursday’s announcement of A$2.4 billion investment in the Whyalla steelworks along with plans for a $1 billion green iron investment fund are a bold bet on green steel. Furthermore, the landmark Future Made in Australia legislation introduces a $6.7 billion Hydrogen Production Tax Incentive, offering $2 per kilogram of renewable hydrogen produced between 2027–28 and 2039–40, alongside a 10% tax credit for critical minerals processing.

    Meanwhile tax credits for green aluminium and alumina should help another heavy industry to navigate the energy transition using clean hydrogen.

    These measures aim to unlock tens of billions in private investment, boost regional economies, and position Australia as a leader in clean energy manufacturing. This isn’t just about one-off projects. It’s laying the groundwork for hubs that link renewable energy and hydrogen production to industrial demand.

    There’s more in the pipeline. The Hydrogen Headstart program pumps funds into hydrogen innovation, and the Future Made in Australia initiative backs clean industry with billions more. Add in policies like carbon pricing or low-interest loans, and the economics tilt even further toward green steel and ammonia. Government buying power — in the form of procurement targets for low-carbon materials — could seal the deal by guaranteeing demand.

    These policies aren’t just wishful thinking — they’re practical steps that are already working elsewhere. Sweden’s HYBRIT project, which paired green steel with government-backed demand, has already led to construction starting on new industrial-scale green steel facilities. At the same time, the European Union’s hydrogen strategy leans on carbon pricing and subsidies to guide industries and suppliers through the energy transition, while Japan offers incentives for the use of green steel in their automotive industry.

    Australia has the renewable energy and the industrial base to take advantage of these opportunities. With the right leadership, we can turn hydrogen’s stumbles into a global triumph for heavy industry.

    Changlong receives funding from the South Australian Department for Energy and Mining to conduct the SA Green Iron Study, and from Geoscience Australia under the Exploring for the Future program to develop the Hydrogen and Green Steel Economic Fairways tool. Changlong is affiliated with Melbourne Climate Futures, University of Melbourne, and is a visiting fellow at Engineering Science, Oxford University, UK.

    Stuart Walsh receives funding from Geoscience Australia supporting the development of the Bluecap software suite, which highlights opportunities for new renewable energy and critical mineral projects in Australia. Stuart received funding from the South Australian Department for Energy and Mining to conduct the SA Green Iron Study and from Geoscience Australia under the Exploring for the Future program to develop the Hydrogen and Green Steel Economic Fairways tool.

    – ref. The promise of green iron, steel and ammonia is keeping the green hydrogen dream alive – https://theconversation.com/the-promise-of-green-iron-steel-and-ammonia-is-keeping-the-green-hydrogen-dream-alive-250410

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 20.02.2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    20 February 2025 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 20.02.2025

    Espoo, Finland – On 20 February 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 1,256,122 4.77
    CEUX – –
    BATE – –
    AQEU – –
    TQEX – –
    Total 1,256,122 4.77

    * Rounded to two decimals

    On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

    Total cost of transactions executed on 20 February 2025 was EUR 5,989,818. After the disclosed transactions, Nokia Corporation holds 254,445,785 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI Global: Trump’s art of the deal horrifies Ukraine and its allies

    Source: The Conversation – UK – By Jonathan Este, Senior International Affairs Editor, Associate Editor

    Browse through Donald Trump’s ghostwritten memoir, The Art of the Deal, and you’ll come across an aphorism which will go some way to explaining the US president’s approach to negotiating. Having established that he would do nearly anything within legal bounds to win, Trump adds that: “Sometimes, part of making a deal is denigrating your competition.”

    It’s an idea which makes a lot of sense when you consider Trump’s record. We saw it time and again on the campaign trail, as he sought to seal the deal with the US public by repeatedly denigrating first Joe Biden and then Kamala Harris. Which begs the question, in seeking to make a deal to end the war in Ukraine, exactly who he sees as the competition he needs to denigrate: Vladimir Putin or Volodymyr Zelensky?

    Trump has certainly gone out of his way to excoriate the Ukrainian president over the past day or two, both in public and on his TruthSocial platform. He has variously blamed Zelensky for starting the war, called him a “dictator without elections” and a “modestly successful comedian … very low in Ukrainian polls” who “has done a terrible job, his country is shattered, and MILLIONS have unnecessarily died”.

    Putin, meanwhile, takes a rather different view of how to seal a deal with the US president. Far from denigrating Trump, he has set out to charm the flattery-loving president with a view to driving a wedge between the US and Europe, claiming that EU leaders had “insulted” Trump during his election campaign and insisting that “they are themselves at fault for what is happening”.

    Sign up to receive our weekly World Affairs Briefing newsletter from The Conversation UK. Every Thursday we’ll bring you expert analysis of the big stories in international relations.

    The Russian president will be well pleased with the events of the past week or so. After three years of increasing isolation under the Biden presidency, he’s now back at the top table with the US president – two powerful men discussing the future of Europe.

    For the man who, in 2005, complained that the collapse of the Soviet Union had been “the greatest geopolitical catastrophe” of the 20th century, to be back deciding the fate of nations is a dream come true, writes James Rodgers of City St George’s, University of London.

    Rodgers, a former BBC Moscow correspondent, observes that Putin has fulfilled this mission having “conceded not an inch of occupied Ukrainian territory to get there. Nor has he even undertaken to give back any of what Russian forces have seized since the full-scale invasion of Ukraine three years ago.”

    Not only that, but Putin also appears to have enlisted US support for one of the key objectives that encouraged him to invade Ukraine in the first place: preventing Ukraine from joining Nato. That much was clear from the US defense secretary Pete Hegseth’s speech to European defence officials last week. The views of Washington’s European allies (and of the Biden administration) – that Ukraine’s membership of Nato is a matter for the alliance members to decide with Ukraine as a sovereign state in control of its own foreign policy – don’t appear to matter to Trump and his team.



    Read more:
    Ukraine peace talks: Trump is bringing Russia back in from the cold and ticking off items on Putin’s wish list

    Meanwhile, Trump’s policy volte-face over Ukraine and, more broadly, European security in general has driven a dangerous wedge between the US and its allies in Europe. France’s president, Emmanuel Macron, responded by convening a meeting on Monday of the leaders of what the French foreign minister, Jean-Noël Barrot, described as “the main European countries”. This turned out to include Germany, the UK, Italy, Poland, Spain, the Netherlands and Denmark, as well as the Nato secretary-general and the presidents of the European Council and European Commission.

    Passing over the question of how the leaders of the Baltic states felt about this, given they all share a border with Russia (as does Finland) and presumably are well aware of the vulnerability of their position, the fact is Europe is deeply divided over its response to the situation.

    As Stefan Wolff observes, the Weimar+ group of countries that met in Paris only represent one shade of opinion within the EU. Meanwhile, Hungary’s prime minister, Viktor Orbán, is openly scathing about European efforts to support Ukraine, posting on X: “While President @realDonaldTrump and President Putin negotiate on peace, EU officials issue worthless statements.”

    Wolff, an expert in international security at the University of Birmingham, notes that disrupting European unity is a stated aim of the Project 2025 initiative which has guided, if not Trump himself, many of his close advisers. The past week, taking into account both Hegseth’s meeting with European defence ministers and the subsequent appearance by the US vice-president, J.D. Vance, at the Munich Security Conference, has gone a fair way down the path towards achieving that disruption.

    At the same time, Vance’s lecture to the conference – during which he was heavily critical of Europe as “the enemy within” which was undermining democracy and threatening free speech – will have united most of those present in anger and dismay at his remarks.



    Read more:
    Europe left scrambling in face of wavering US security guarantees

    Constitutional matters

    Trump has declared that Zelensky is a “dictator” because he cancelled last year’s election in Ukraine. In fact, Ukraine’s constitution provides that elections are prohibited during periods of martial law. And martial law has been in force since the day of the invasion on February 24 2022.

    Lena Surzhko Harned, a professor of political science at Penn State University, writes that the delegitimisation of Zelensky is a tactic Putin has been striving for from the very start. The Kremlin has pushed the narrative that there is no legitimate authority with which to negotiate a peace deal, and that Zelensky’s government is “illegitimate”.

    “What Putin needs for this plan to work is a willing partner to help get the message out that Zelensky and the current Ukraine government are not legitimate representatives of their country,” writes Harned. “And into this gap the new US administration appears to have stepped.”

    Despite Zelensky still enjoying relatively strong support in recent opinion polls, an election campaign in the middle of this conflict would be a needlessly divisive exercise. And that’s before you consider the potential for Russian interference, which would be seriously debilitating for a country fighting for its survival.

    Putin knows all this – and he also knows by framing the issue in a way that suggests Ukraine is dragging its feet over peace, he will enjoy a propaganda coup. And that’s what he is doing, with the apparent support of the US president.



    Read more:
    In pushing for Ukraine elections, Trump is falling into Putin-laid trap to delegitimize Zelenskyy

    Another way Putin hopes to discredit the Ukrainian leadership is by deliberately excluding it from the talks – at least for the present. Zelensky has said, with the support of his European allies, that there can be no deal without Ukrainian participation.

    It’s easy to see why Zelensky and his allies are so adamant that they should be involved, writes Matt Fitzpatrick, a professor of international history at Flinders University. History is littered with examples of large powers getting together to decide the fate of smaller nations that have no agency in the division.

    Three such shameful debacles determined the history of much of the 20th century – and not in a good way. The Sykes-Picot agreement divided the Middle East between British and French spheres of influence, and sowed the seed for discord which continues to this day. The Munich conference of 1938, at which the fate of Czechoslovakia was decided without any Czech input, showed Adolf Hitler that naked aggression really does pay. And having failed to learn from either of these, in 1945 the Big Three (Russia, the US and Britain) got together at Yalta to carve up Germany, thereby setting the scene for the cold war.



    Read more:
    Ukraine isn’t invited to its own peace talks. History is full of such examples – and the results are devastating

    Deal or no deal

    One of Trump’s assertions this week has been that Zelensky had his chance to strike a deal and avoid all the bloodshed and much of the territorial loss suffered by Ukraine in the three years of war. Reacting to questions about why Zelensky or any Ukrainian diplomats hadn’t been involved in the talks, he scoffed: “Today I heard: ‘Oh, well, we weren’t invited.’ Well, you’ve been there for three years … You should have never started it. You could have made a deal.”

    Stephen Hall, who specialises in Russian and post-Soviet politics at the University of Bath, recalls the early talks in the spring of 2022. He says that the idea – also floated in the press by several commentators – that Ukraine should have concluded a peace deal in March or April of 2022 after talks in Istanbul is absurd.

    While there was momentum for peace, particularly on Kyiv’s part, the two sides were a long way apart on issues such as the size of Ukraine’s military and the fate of territories such as Crimea. “Had Ukraine done a deal based on the Istanbul communique, it would have essentially led to the country becoming a virtual province of Russia – led by a pro-Russian government and banned from seeking alliances with western countries,” Hall writes.



    Read more:
    Ukraine war: the idea that Kyiv should have signed a peace deal in 2022 is flawed – here’s why

    And in any case, back then there was scant support among Ukraine’s allies in Europe and the Biden White House for appeasing Putin by offering him concessions in return for aggression. But that’s now history. Trump and his team appear to have already granted the Russian president some of his dearest wishes before the negotiations proper have even started.

    World Affairs Briefing from The Conversation UK is available as a weekly email newsletter. Click here to get updates directly in your inbox.

    – ref. Trump’s art of the deal horrifies Ukraine and its allies – https://theconversation.com/trumps-art-of-the-deal-horrifies-ukraine-and-its-allies-250461

    MIL OSI – Global Reports –

  • MIL-OSI Global: Canada, Greenland, Panama, Gaza and now Ukraine: Wake up, world, Donald Trump is coming for you

    Source: The Conversation – Canada – By Jeffrey B. Meyers, Instructor, Legal Studies and Criminology, Kwantlen Polytechnic University

    It’s no longer speculative to ask how the post-Second World War world order, led by the United States, will end. It’s apparently already ended.

    The U.S. has snubbed its NATO partners and Ukraine itself from purported “peace talks” to end the three-year-old war in Europe in favour of direct bilateral talks between American and Russian officials hosted by Saudi Arabia.

    President Donald Trump has actually described Ukraine’s widely admired wartime President Volodymyr Zelenskyy as “a dictator” and falsely claimed he started the war.

    These lies came directly after Vice President JD Vance’s recent broadside against NATO partners at the Munich Security Conference in which he downplayed the threat of Russia and China to the western alliance and suggested instead that liberal centrism was the real threat.

    His remarks were widely regarded as an intervention on behalf of the European far right, particularly far-right political parties in Germany ahead of upcoming elections in that country.

    Dreaming of a Gaza takeover

    Eighty years after the liberation of Auschwitz and 36 years after the fall of the Berlin Wall, we are in the midst of new crimes against humanity, new forms of ethnic cleansing and even, potentially, genocide.

    In a news conference with Israeli Prime Minister Benjamin Netanyahu, Trump mused about an American takeover of the Gaza Strip by removing its occupants to neighbouring countries and developing the region as a seaside resort. This would very likely constitute a war crime.

    Snubbing international law

    Trump’s return to the American presidency marks a normalization of this type of threat.

    Instead of embracing the international rule of law in the post-Second World War spirit of avoiding another devastating global conflict, the U.S. is building new walls rather than tearing them down while at the same time threatening to annex other sovereign nations and amass new territory.

    Trump is obviously unsentimental about America’s longtime allies, including the innermost circle of English-speaking democracies — the U.S., Canada, the United Kingdom, Australian and New Zealand — that make up the Five Eyes intelligence-sharing alliance.

    A group of countries that wouldn’t normally be fussed about the transition from one American president to another is now very nervous about how far Trump is going to go.



    Read more:
    Allies or enemies? Trump’s threats against Canada and Greenland put NATO in a tough spot

    Anarchy, colonialism

    During the first angry weeks of Trump’s second presidency, the U.S. appears to be signalling a return to an anarchic and explicitly colonial imagining of the world. In this regard, Trump’s disdain for the rule of law at home tracks a potentially even greater disdain for the international legal order, one that’s existed since 1945.

    The only real connection between the past and contemporary times predates the American-led post-war order of the past eight decades and harkens further back to America’s imperialist and expansionist past and ideas like Manifest Destiny from more than a century ago.



    Read more:
    How the U.S. could in fact make Canada an American territory

    Trump, not historically much of an imperialist in his rhetoric, has now doubled down on classical imperialist threats as he repeatedly proposes expanding the physical map of the U.S., musing in particular about Greenland, Panama, Canada and now Gaza.

    Greenland holds a strategic interest for the U.S. — there’s already an American airbase on the island — since its location is increasingly important as the Arctic ice melts and amid greater competition from Russia and China.

    Panama has been in America’s imperialistic sights more often than Greenland, and was even invaded by U.S. forces in 1989.

    Canada as a 51st state

    But Canada? At least Trump agreed at a news conference before taking office that military force was off the table. Instead, Canada only had to worry about “economic force” being used to annex it.

    Prime Minister Justin Trudeau has told business leaders that Trump’s talk about annexing Canada is “the real thing,” aimed at obtaining Canada’s critical minerals.

    Trump’s interactions with Denmark, Canada and Panama all demonstrate a disdain for basic principles of the rule of law at the international level, which is underpinned by the sovereignty of states.

    His musings on Gaza, which led United Nations Secretary General António Guterres to warn him specifically against endorsing ethnic cleansing, demonstrate a willingness to break completely with international legal norms.

    He’s not only peacocking on the global stage, he is also telegraphing that he holds international legal norms in even lower esteem than the norms of his own country, where he is a convicted felon. This situation is as alarming as it unprecedented.



    Read more:
    Despite the U.S. Supreme Court’s gift to Donald Trump, he could be barred from Canada as a convicted felon

    America now a threat

    Right now, cognitive dissonance in the form of status quo bias poses a real danger in terms of Trump’s dismissal of the rule of law. This means that folks are somehow convincing themselves that the undoing of the global rules-based order in real time is just a blip; things will somehow ramp down and return to normal.

    But the evidence is glaringly to the contrary.

    Trump is plainly communicating his wishes: a new age of American imperialism. At first few took him seriously. Now we all are. Canada, due to its proximity to and reliance on the U.S., must especially face a new reality in which an American president casually and repeatedly threatens its sovereignty.

    Canada, America’s closest ally in terms of shared language, culture and geography, should be the first and not the last to start believing Trump’s threats to annex it.



    Read more:
    Allies or enemies? Trump’s threats against Canada and Greenland put NATO in a tough spot

    Even when Trump is no longer in office, neither Canadians nor any of America’s other allies can be certain someone just like him will not be returned to power by the U.S. voters. That means America’s western allies, like Canada and Denmark, must learn the lessons Latin American and Middle Eastern countries learned along time ago: America is a threat.

    The Democratic Party must also figure out how it’s going to effectively resist Trump over the next four years.

    Only an American concern?

    Some might ask: Aren’t these American problems for the American people? As Canadians can attest, no. Trump poses grave dangers to the rest of the world due to the unique place the U.S. occupies in the geopolitical system.

    Nothing about Trump’s second presidency bodes well for America’s allies and friends, including Canada.

    A kleptocrat who regards friends and allies as transactional customers and for whom everything is “just business,” including national security, Trump poses an existential threat not only to America, but to the international world order.

    Jeffrey B. Meyers 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. Canada, Greenland, Panama, Gaza and now Ukraine: Wake up, world, Donald Trump is coming for you – https://theconversation.com/canada-greenland-panama-gaza-and-now-ukraine-wake-up-world-donald-trump-is-coming-for-you-248737

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: UK Chair statement: Ministerial Roundtable on Sudan

    Source: United Kingdom – Executive Government & Departments

    Statement highlighting UK Minister for Development, Anneliese Dodd’s attendance at a ministerial roundtable to urgently address the rapidly deteriorating humanitarian crisis in Sudan.

    On 13 February, the UK Minister for Development, Anneliese Dodds MP, convened Ministers and other representatives virtually from Canada, Egypt, EU, France, Germany, Saudi Arabia, Netherlands, Norway, Qatar, UAE and USA with the UN Emergency Relief Coordinator, Tom Fletcher. The participants discussed how to urgently address the rapidly deteriorating humanitarian crisis in Sudan where over 30 million people are in urgent need of assistance, more than 12 million are displaced and famine conditions have been confirmed.

    The participants agreed on the critical need for both warring parties to adhere to their commitments agreed in the Jeddah Declaration to respect international humanitarian law, protect civilians and facilitate the rapid and unimpeded passage of humanitarian relief both into and throughout Sudan. They expressed concern that only a fraction of aid available has been able to reach those in most need and discussed the importance of all sides lifting the bureaucratic impediments that are unnecessarily blocking or delaying the distribution of aid.

    They took note of other efforts to galvanise international action and attention on the humanitarian situation in Sudan, including the High-Level Humanitarian Conference for the People of Sudan co-hosted by Ethiopia, UAE, the African Union and the Intergovernmental Authority on Development on 14 February that called for a Ramadan humanitarian pause and the launch of the 2025 UN Sudan Humanitarian Needs and Response Plan and the Regional Refugee Response Plan on 17 February.

    The participants re-affirmed their commitment to the Sudanese people and agreed to re-convene at regular intervals to strengthen the international response to the humanitarian crisis in Sudan.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UK and Norway kickstart new defence agreement in boost for European security

    Source: United Kingdom – Government Statements

    UK continues to step up on European security in move to deepen defence ties with Norway

    The UK has kickstarted negotiations today on a major defence agreement with Norway in a move that will bolster security at home and on the European continent and help deter Russian aggression.

    During a visit 400km inside the Arctic Circle, including to the Norwegian border with Russia, the Defence Secretary John Healey set out plans for a new agreement which will bring the UK and Norway closer together than ever, boosting national security and creating opportunities for growth to help deliver the government’s Plan for Change.

    The proposed strategic partnership will look to build on the UK’s longstanding defence relationship with Norway by strengthening our armed forces, developing closer industrial ties and enhancing our capabilities to face common challenges such as protection of critical undersea infrastructure. It follows the Defence Secretary signing the landmark Trinity House Agreement with Germany in October.

    The announcement, recognising the importance of the High North region, comes as the UK steps up to take a leading role in European security and within NATO.

    With Russia continuing to militarise the High North and Arctic, this new agreement will boost security for the UK, Norway and our NATO allies, bolstering defences on NATO’s northern flank.

    Alongside Norway Defence Minister Tore Sandvik, John Healey visited a border post near Kirkenes on the Russian border yesterday. There, they discussed shared security concerns and the commitment to deterring Russian threats and stepping up support for Ukraine in this critical year.

    Defence Secretary John Healey MP said:

    Kickstarting work on a deep, ambitious new defence agreement with Norway shows the UK promise to step up on European security in action.

    Norway remains one of the UK’s most important allies. We will create a new era of defence partnership to bring us closer than ever before as we tackle increasing threats, strengthen NATO, and boost our security in the High North.

    The UK is determined to play a leadership role on European security, supporting the foundations for our security and prosperity at home and showing our adversaries that we are united in our determination to protect our interests.

    Both Defence ministers also visited the UK’s ship RFA Proteus in Bodø, which is docked in Norway ahead of exercises in the Baltic Sea. 

    The Ministers saw how Proteus’ capabilities support UK and European security – functioning as a mothership for drones and remotely operated vehicles, which act as a deterrent and can monitor and protect undersea infrastructure. 

    The UK and Norway have both stepped up maritime security in the Baltic Sea to protect critical undersea infrastructure. Under NATO’s Operation Baltic Sentry operation, the UK and Norway are working together, with the UK contributing Rivet Joint and P-8 Poseidon maritime surveillance aircraft.

    Speaking in sub-zero conditions in Bodø, the two Ministers highlighted their determination to defend shared interests in an increasingly unstable world. 

    Norway Defence Minister, Tore Sandvik said:

    The United Kingdom is Norway’s closest and most important ally in Europe, and our two countries have maintained a close and strong security and defence cooperation for many years. We now face many of the same security challenges in a time of great uncertainty.

    It is therefore natural for us to strengthen our ties even further to enhance both our own and our allies’ security while safeguarding our shared strategic interests. At the same time, we will contribute to making NATO stronger.

    Together, the UK and Norway continue to be ironclad in support for Ukraine, leading the Maritime Capability Coalition which is transforming the Ukrainian Navy by developing its Black Sea maritime force and building new cutting-edge underwater drones.

    Both nations are also playing a key part in the training of Ukrainian recruits. More than 51,000 men and women have been provided with the skills needed to counter Russian’s illegal invasion.

    In addition, Norway is the only nation to join the full duration of the UK’s Carrier Strike Group deployment to the Indo-Pacific this year. A Norwegian frigate will sail alongside the Royal Navy aircraft carrier HMS Prince of Wales. In preparation for the deployment, the UK and Norway will take part in Exercise Tamber Shield in the next few weeks.

    More details on the announcement between the UK and Norway can be found here – Joint Statement on Enhanced Defence Cooperation between Norway and the United Kingdom – GOV.UK

    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: European courts provide increased clarity on women seeking international protection, EUAA report finds

    Source: European Asylum Support Office

    In 2024, the Court of Justice of the European Union (CJEU) handed down three landmark judgments providing national authorities with more clarity when assessing applications for international protection lodged by women faced with different forms of gender-based violence. A new EUAA report examines how these EU-level and national court decisions are guiding national practices to shift to a more gender-sensitive approach in international protection.

    The European Union Agency for Asylum (EUAA) has published a report examining how courts interpreted the legal grounds to grant international protection to women fleeing violence and systematic discrimination. Over the last five years, there has been a significant legal shift in recognising and protecting this profile of applicants, with three landmark rulings by the Court of Justice of the European Union (CJEU) in 2024 providing clearer legal grounds to Member States’ national authorities, as they consider asylum applications due to persecution or serious harm based on gender.

    In 2024, the CJEU ruled that women who are subjected to systematically imposed discriminatory measures by the State, amounting to persecution, may qualify for international protection on account of their gender and nationality. Already prior to this judgment, some national authorities had adapted their policies following the EUAA’s Country Guidance on Afghanistan of January 2023, which then served as one of the main sources for the judgment of the CJEU. The Agency continues to work closely with Member States’ national authorities to help ensure that this jurisprudence is then reflected in national practices. Courts in Denmark, France, Germany and Luxembourg applied this reasoning after hearing appeals on negative decisions from Afghan women who, were then, granted refugee status.

    The EUAA report highlights how, between 2020 and 2024, European courts have established case law that increasingly acknowledges persecution on account of gender; and, identifies the risk profiles of women who might then be members of a ‘particular social group’, as defined in the recast Qualification Directive. The case law referenced in the report notes that the risk profiles include women fleeing forced marriage, divorced women targeted by honour crimes, victims of sexual violence, women accused of witchcraft, women who have had an illegal abortion and those fleeing female genital mutilation/cutting.

    National courts in Finland, Greece, Ireland, the Netherlands and Portugal also overturned decisions of asylum authorities when they failed to assess the need for special procedural guarantees that aim to ensure that women can effectively participate in the procedure for international protection. The cases highlighted the need to transfer vulnerable women from the border or accelerated procedure to the regular procedure for international protection, with sufficient safeguards in place.

    Background

    The cases presented in the report are extracted from the EUAA Case Law Database, a public database which serves as a centralised platform on jurisprudential developments related to international protection. It contains English language summaries of judgments related to international protection which are pronounced by national courts of EU+ countries, the CJEU, the European Court of Human Rights (ECtHR) and quasi-judicial bodies of the United Nations and the Human Rights Committee (CCPR).

    MIL OSI Europe News –

  • MIL-OSI Global: Trump’s threats on Greenland, Gaza, Ukraine and Panama revive old-school US imperialism of dominating other nations by force, after decades of nuclear deterrence

    Source: The Conversation – USA – By Monica Duffy Toft, Professor of International Politics and Director of the Center for Strategic Studies, The Fletcher School, Tufts University

    Imperialist rhetoric is becoming a mark of President Donald Trump’s second term. From asserting that the U.S. will “take over” the Gaza Strip, Greenland and the Panama Canal to apparently siding with Russia in its war on Ukraine, Trump’s comments suggest a return to an old imperialist style of forcing foreign lands under American control.

    Imperialism is when a nation extends its power through territorial acquisition, economic dominance or political influence. Historically, imperialist leaders have used military conquest, economic coercion or diplomatic pressure to expand their dominions, and justified their foreign incursions as civilizing missions, economic opportunities or national security imperatives.

    The term “empire” often evokes the Romans, the Mughals or the British, but the U.S. is an imperial power, too. In the 19th and early 20th century, American presidents expanded U.S. territory westward across the continent and, later, overseas, acquiring Puerto Rico and other Caribbean islands, Guam and the Philippines.

    After that, outright territorial conquest mostly ceased, but the U.S. did not give up imperialism. As I trace in my 2023 book, “Dying by the Sword,” the country instead embraced a subtler, more strategic kind of expansionism. In this veiled imperialism, the U.S. exerted its global influence through economic, political and threatened military means, not direct confrontation.

    Embracing traditional U.S. imperialism would upend the rules that have kept the globe relatively stable since World War II. As an expert on U.S. foreign policy, I fear that would unleash fear, chaos – and possibly nuclear war.

    No redrawing borders

    One of the most fundamental principles of this post-war international system is the concept of sovereignty – the idea that a nation’s borders should remain intact.

    The United Nations Charter, signed in San Francisco in 1945, explicitly bars countries from obtaining territory through force. Outright annexation or territorial takeover is considered a direct violation of international law.

    Work by the late political scientist Mark Zacher outlines how, since World War II, the international community – including the U.S. – has largely upheld this standard.

    But imperialism still shapes world politics.

    Russian President Vladimir Putin’s full-scale invasion of Ukraine in 2022 is a blatant instance of imperial ambition justified by alleged historical grievances and national security concerns. Russia’s invasion set a dangerous precedent by undermining the principle that borders can’t be changed by force and that countries shouldn’t resort to aggression.

    Putin’s precedent, in turn, has raised concerns that another great power may attempt to forcibly redraw international borders.

    Take China, for example. President Xi Jinping has become increasingly aggressive toward Taiwan since 2019. If Putin’s invasion culminates with Russia successfully annexing parts of Ukraine – which the Trump administration has agreed with Russia should be part of any settlement – Xi may follow through on his threats to invade Taiwan.

    Respect for national sovereignty has made the world more stable and less violent.

    The decline of traditional imperialism after World War II led to a flourishing of independent nation-states. As former colonial powers gradually relinquished control of their holdings in the second half of the 20th century – voluntarily or after losing wars of independence – the number of sovereign countries increased dramatically. The U.N. had 51 member countries in 1945 and over 150 by 1970.

    The U.N. was founded on the idea that people of all countries should have a say in how they build their own futures. Today, 197 countries try to work together through the U.N. on a wide range of global issues, including defending human rights and reducing global poverty.

    When a major power like the U.S. openly embraces imperialist rhetoric, it further weakens the already fragile rules that keep this delicate collaboration working.

    Nonviolent imperialism

    Imperialism does not require military force. Great powers still exert influence over weaker nations, shaping their behavior through economic might and wealth, diplomacy and strategic alliances.

    The U.S. has long engaged in this form of influence. It has often pursued its imperialist agenda in what I would call a more “gentlemanly manner” than historical empires with their bloody physical conquests.

    During the Cold War, for example, the U.S. established extensive dominance over much of the globe. In Latin America and the Middle East, it used economic aid, military alliances and ideological persuasion rather than outright territorial expansion to exert its control. Russia did the same in Eastern Europe and its other spheres of influence.

    Demonstrators in Panama City insist ‘Panama Canal is Not For Sale’ following Donald Trump’s threats to seize the canal, Jan. 20, 2025.
    Arnulfo Franco/AFP via Getty Images

    Today, China excels at nonviolent imperialism. Its Belt and Road Initiative, a global infrastructure construction project launched in 2013, has created deep economic dependencies among partner nations in Africa, South Asia and Latin America. Trade and diplomatic ties between China and those regions are much closer today as a result.

    Nuclear era

    A critical distinction between imperialism past and present is the presence of nuclear weapons.

    In previous eras, great powers frequently fought wars to expand their influence and settle disputes. Countries could attempt to seize territory with little risk to their survival, even in defeat.

    The sheer destructive potential of nuclear arsenals has changed this calculus. The Cold War doctrine of mutually assured destruction guarantees that if one country launches a nuclear weapon, it will quickly become the target of nuclear counterattack: annihilation for all sides.

    Any major war between nuclear-armed nations now carries the risk of massive, potentially planetary, destruction. This makes direct conquest an irrational, even suicidal strategy rather than a calculated political maneuver.

    And it makes Trump’s old-school imperial rhetoric particularly dangerous.

    If the U.S. tried to annex foreign territory, it would almost certainly provoke serious international conflict. That’s especially true of the most strategic places Trump has threatened to “take over,” like the Panama Canal, which links 1,920 ports across 170 countries.

    These imperialist threats, even if they’re not intended as serious policy proposals, are already ratcheting up global tensions.

    Panamanian President José Raúl Mulino — a pro-American ally — has flatly ruled out negotiating with the U.S. over control of the Panama Canal. Denmark’s prime minister, Mette Frederiksen, says its territory of Greenland is “not for sale.” And Palestinians in Gaza, for their part, fiercely reject Trump’s plan to move all of them out and turn their homeland into a “Middle East Riviera,” as have neighboring Arab countries, which could be expected to absorb millions of displaced Palestinians.

    Rhetoric shapes perception, and perception influences behavior. When an American president floats acquiring foreign territories as a viable policy option, it signals to both allies and enemies that the U.S. is no longer committed to the international order that has achieved relative global stability for the past 75 years.

    With wars raging in the Middle East and Europe, this is a risky time for reckless rhetoric.

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

    – ref. Trump’s threats on Greenland, Gaza, Ukraine and Panama revive old-school US imperialism of dominating other nations by force, after decades of nuclear deterrence – https://theconversation.com/trumps-threats-on-greenland-gaza-ukraine-and-panama-revive-old-school-us-imperialism-of-dominating-other-nations-by-force-after-decades-of-nuclear-deterrence-249327

    MIL OSI – Global Reports –

  • MIL-OSI Europe: SEK 22 billion in EIB financing provided for Swedish firms and municipalities in 2024

    Source: European Investment Bank

    • The city of Stockholm, SKF, Ericsson, Tele2 and Chromafora were some of the actors in Sweden granted EU financing in 2024 through the EIB Group.
    • This financing amounted to around SEK 22 billion (€1.9 billion) and more than 65% of this went to initiatives supporting the green transition.
    • Just over 32 000 jobs are estimated to have been saved thanks to this financing.

    Over the course of 2024, the European Investment Bank (EIB) and the European Investment Fund (EIF) continued to support Sweden’s economic development and climate initiatives through substantial investments.

    The EIB Group’s financing during the year amounted to around SEK 22 billion, of which more than 60% went to climate measures and environmental sustainability. This money supported wind power, energy-efficient housing and industrial electrification, among other projects.

    These investments are estimated to have kept 32 000 jobs in Sweden.

    “Sweden has come a long way in the green transition, but the work is far from complete. As the EU climate bank, we are proud to be accelerating efforts within renewable energy, electrification and other climate-promoting initiatives, and we will continue to support investments that make a real difference for the climate and society as a whole. We are also proud to contribute to jobs and strong infrastructure, which creates long-term value for Swedish society,” said EIB Vice-President Thomas Östros.

    Over the course of 2024, the EIB Group signed more than 20 agreements to provide financing in Sweden. Here are a few examples:

    SKF: €430 million for research and innovation in fields such as renewable energy and electromobility.

    Chromafora: €22.5 million to combat PFAS (“forever chemicals”).

    Tele2: €140 million to expand the 5G network in order to reach 99% of the Swedish population.

    City of Stockholm: €368 million to redevelop the Slussen area and reduce the risk of flooding.

    City of Malmö: €225 million to build more than 1 500 energy-efficient apartments.

    These investments reflect the EIB Group’s extensive involvement in Sweden’s green transition, digitalisation and social development.

    The European Investment Fund (EIF) – which is part of the EIB – allocated €320 million to capital investments and guarantees in Sweden in 2024. This in turn is expected to mobilise around SEK 3.8 billion in investment for the Swedish economy, with more than 5 300 companies expected to benefit from this financing in different ways.

    Several of the initiatives are supported by the European Commission’s InvestEU programme.

    In addition to investing in funds such as Course Corrected and the Swedish Impact Lending Fund, the EIF also issued guarantees for businesses such as the corporate lender Froda.

    Please note: The figures provided in this press release are approximate and subject to exchange rates.

     Background information

    EIB

    The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

    All projects financed by the EIB Group are in line with the Paris Climate Agreement. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 billion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

    Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average. This underscores the Bank’s commitment to fostering inclusive growth and the convergence of living standards.

    MIL OSI Europe News –

  • MIL-OSI United Nations: IOM-FMM Capacity Building with SMEs on Fair and Ethical Recruitment and Employment of Migrant Workers in Malaysia

    Source: International Organization for Migration (IOM)

    Selangor, Malaysia– IOM Malaysia in collaboration with the Federation of Malaysian Manufacturers (FMM) has kicked off the capacity building sessions on Fair and Ethical Recruitment and Employment of Migrant Workers with Small and Media Enterprises (SMEs) representatives in Malaysia on 13th February 2025 in Kuala Lumpur.  

    SME Representatives deepened their understanding in the implementation of fair and ethical recruitment and employment of migrant workers including human rights due diligence. Throughout the interactive discussion, SME representatives shared their experiences and challenges, identified areas for support in implementing practices. 

    “IOM is pleased to continue our partnership with the Federation of Malaysian Manufacturers (FMM). This is an effort to provide adequate support, especially to SMEs involved in the manufacturing supply chain that employs migrant workers, who constitute 31% of the workforce in this sector in Malaysia. Most importantly, this series of workshops aims to capacitate SMEs to adhere to human rights and labour standards in their operations and throughout their supply chains” Amanda Ng Seang Wei, National Programme Officer.

    SMEs are invited to attend the upcoming free capacity-building sessions this year. The sessions equip participants with the knowledge and tools necessary to: 

    • Identify and mitigate risks associated with migrant labour and human rights violations, thereby safeguarding their operations and reputation.  
    • Understand the international standards and best practices in business ethics, migration policies and human rights protection of migrant workers. 
    • Understand the importance of promoting fair and ethical recruitment and employment of migrant workers to reduce exploitative recruitment and labour practices in their operations and supply chain.  
    • IOM together with FMM will continue to conduct these sessions throughout Malaysia in Melaka, Sarawak, Sabah, Pahang, Kedah, Perak, Penang, and Johor. Any SMEs who are interested in participating in this free training are encouraged to contact FMM through:

      For more information, please contact Amanda Ng Seang Wei at sng@iom.int.
       

      The Migration, Business and Human Rights Programme in Asia (MBHR Asia) is a five-year regional programme and is funded by the European Union and Government of Sweden. The programme will run from 2024-2028 across Cambodia, Malaysia, Nepal, Indonesia, the Philippines, Thailand and Viet Nam.

    MIL OSI United Nations News –

  • MIL-OSI: Municipality Finance issues RON 108 million notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    20 February 2025 at 10:00 am (EET)

    Municipality Finance issues RON 108 million notes under its MTN programme 

    Municipality Finance Plc issues RON 108 million notes on 21 February 2025. The maturity date of the notes is 21 February 2028. The notes bear interest at a fixed rate of 6.36% per annum. 
    The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 21 February 2025.

    Société Générale acts as the dealer for the issue of the notes.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland. The Group’s balance sheet is over EUR 53 billion.

    MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic, but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI: Municipality Finance issues SEK 1 billion notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    20 February 2025 at 10.00 am (EET)

    Municipality Finance issues SEK 1 billion notes under its MTN programme

    Municipality Finance Plc issues SEK 1 billion notes on 21 February 2025. The maturity date of the notes is 21 February 2028. The notes bear interest at a floating rate equal to 3-month Stibor plus 150 bps per annum.

    The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 21 February 2025.

    Danske Bank A/S act as the Dealer for the issue of the notes.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland. The Group’s balance sheet is over EUR 53 billion.

    MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic, but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: www.munifin.fi

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI: Nokia’s Corteca Cloud for device and Wi-Fi management adds hundreds of legacy broadband devices #MWC25

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia’s Corteca Cloud for device and Wi-Fi management adds hundreds of legacy broadband devices #MWC25

    • Nokia Corteca Cloud now supports over 400 legacy broadband devices from over 30 manufacturers, providing CSPs with a single pane of glass that simplifies in-home Wi-Fi and device management.
    • Both the traditional TR-069 and the new TR-369 industry standard protocols are supported by the Nokia Corteca Cloud, providing a smooth transition path for CSPs.
    • For the past 20 years, TR-069 has been the industry standard for managing, provisioning, and troubleshooting over 1 billion broadband devices.   

    20 February 2025
    Espoo, Finland – Nokia today announced that it is adding support for 415 legacy TR-069-based broadband devices to its Corteca Cloud. Supporting both the legacy TR-069 and new TR-369 protocols, Nokia’s Corteca Cloud provides CSPs with a single pane of glass for legacy and new broadband devices, simplifying in-home Wi-Fi connectivity and device management.

    For the past 20 years, the TR-069 protocol has been used to manage approximately 1 billion broadband devices worldwide, enabling CSPs to remotely provision and maintain customer-premises equipment (CPE). The new TR-369 protocol introduces significant new capabilities for new devices, but transitioning away from TR-069 will take years. By supporting both protocols, Nokia’s Corteca Cloud allows CSPs to manage devices efficiently today while adapting for the future.

    Key benefits of Nokia’s Corteca Cloud for CSPs:

    • Smooth transition from TR-069 to TR-369 – A single pane of glass supports both TR-069 and TR-369, allowing CSPs to transition at their own pace.
    • Scalability & efficiency – Simplifies management of multiple customer devices, including third-party hardware, and reduces operational complexity.
    • Remote operations – Enables CSPs to configure, troubleshoot, and upgrade devices remotely, minimizing the need for on-site visits.
    • Reduced support costs – Automates Wi-Fi monitoring to proactively resolve issues, lowering customer support calls.

    Justin Doucette, Head of WiFi and Software, Fixed Networks at Nokia, said: “Service providers need a practical path to the future, not a forced transition. By supporting both TR-069 and TR-369, Nokia Corteca Cloud gives operators the flexibility to manage today’s networks while preparing for what’s next— without disruption. Our solution provides a smooth evolution path and a single pane of glass for seamless visibility and control.”

    Resources and additional information
    Product page: Nokia Corteca Home Controller

    About Nokia
    At Nokia, we create technology that helps the world act together. 

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network –

  • MIL-OSI: IDEX Biometrics receives IDEX Pay order for VISA biometric cards in MEA

    Source: GlobeNewswire (MIL-OSI)

    Oslo, Norway – 20 February 2025 – A leading smart card technology, security and ID company based in MEA (Middle-East & Africa) has placed a production order of 10,000 units with IDEX Biometrics. The order supports Visa biometric bank card programs in one of the fastest growing payment markets in the region, and marks the first Visa program in market on the IDEX Pay biometric technology solution. The IDEX Biometrics partner serves over 500 banks, governments, and corporations worldwide.

    ‘The innovation pace of our card manufacturing partners in bringing biometric smart cards to market is accelerating; certifications allow them to move to industrialized production and commercialization. Ultimately bringing more secure payments, access and identity control to more consumers around the world’, comments Catharina Eklof, Chief Executive Office at IDEX Biometrics.

    For further information contact:
    Marianne Bøe, Head of Investor Relations, +47 91800186
    Kristian Flaten, CFO, +47 95092322
    E-mail:ir@idexbiometrics.com

    About IDEX Biometrics
    IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. The company’s solutions provide convenience, security, peace of mind, and seamless user experiences worldwide. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, IDEX Biometrics’ biometric solutions target card-based applications for payments and digital authentication. As an industry enabler, the company partners with leading card manufacturers and technology companies to bring its solutions to market.

    For more information, please visit www.idexbiometrics.com.

    Trademark Statement
    IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.

    About this notice:
    This notice was issued by Marianne Bøe, Head of Investor Relations, on 20 February 2025 at 08:30 CET on behalf of IDEX Biometrics ASA.

    The MIL Network –

  • MIL-Evening Report: A new play about Julian Assange, Truth is an intelligent, thoughtful and unsettling work

    Source: The Conversation (Au and NZ) – By Kate Hunter, Senior Lecturer in Art and Performance, Deakin University

    Pia Johnson/Malthouse Theatre

    Truth, the new play from writer-director pair Patricia Cornelius and Susie Dee, dives headfirst into the contentious world of Julian Assange. It offers us a nuanced portrait of the WikiLeaks founder who transformed from hacker wunderkind to global lightning rod.

    An apt celebration of the significant body of work from the acclaimed duo, Truth opens nearly 40 years after the pair created and performed their first collaboration, Lilly and May.

    Assange rose to global prominence by publishing classified documents that exposed government secrets and surveillance programs. He became both a celebrated whistleblower and a controversial figure in debates about transparency and national security.

    Truth unravels the threads of his story.

    Truth reveals the complex legacy of a man whose actions have both championed and challenged modern democracy.
    Pia Johnson/Malthouse Theatre

    A complex legacy

    The work is set in a spare, black-box space, characterised by Matilda Woodroofe’s bureaucratic brutalist design.

    A backdrop of hard mesh enclosures and scaffolded structures evokes a monotonous line of outdoor exercise yards or prison cells. This is flanked by colourless filing cabinets, 80s-style laminated brown desks and office chairs on wheels. A giant LED screen crowns the structure.

    The ensemble (Emily Havea, Tomàš Kantor, James O’Connell, Eva Rees and Eva Seymour) weaves together key moments in Assange’s life, revealing the complex legacy of a man whose actions have both championed and challenged modern democracy.

    Speaking in chorus at times, the actors perform multiple versions of Assange and other characters. They are journalists, whistleblowers, narrators, and include the key figures of Edward Snowden and Chelsea Manning.

    A terrific and youthful ensemble cast delivers sensitive and energised performances.
    Pia Johnson/Malthouse Theatre

    Characterised by Cornelius’ trademark rapid-fire dialogue, the text is tightly calibrated with smart, sparse, dry comments that, at times, comically undercut our Australian sensibilities. As one character says, “the worst thing to be in this country is too smart”.

    The ensemble is physically dynamic and vocally strong. They have a particular choreographic fluidity. A spaciousness and attention to timing allows each performance to land. This is a testament both to Dee’s sharp, contained direction, and a terrific and youthful ensemble cast who deliver sensitive and energised performances.

    From geek to advocate

    The play moves chronologically through Assange’s life. We begin with the rocky early years marked by the dissonance between his sharp intelligence and reputation as computer nerd. We witness his arrests for hacking. We follow his evolution from awkward geek to outspoken advocate for free speech.

    The play offers us a nuanced portrait of the WikiLeaks founder who transformed from hacker wunderkind to global lightning rod.
    Pia Johnson/Malthouse Theatre

    The play is grounded in comprehensive research, and solo moments featuring Snowden and Manning serve as poignant interludes to the fast-paced narrative of Assange’s life events.

    I am struck by the way the work unsettles my preconceptions. The small, stark image of a naked Private Manning in her isolated cell is particularly raw and affecting – but is juxtaposed on stage against Assange’s dubious behaviour towards two young women in Sweden.

    The show clips along, all the while unfolding a nuanced consideration of the complexities of reported narratives and the myriad ways in which journalistic narratives are influenced – and controlled.

    The delivery to the audience is largely direct-address. This risks becoming tedious, but Cornelius’ intelligent style and the ensemble’s strong performance carries through.

    The LED screen is used to great effect. The video design (Meri Blazevski) shifts through rainstorms of binary digits, to list of early Assange manifestos or leaked stories, to pixellated images of actors’ faces as teenage gamers.

    The work is set in a spare, black-box space, characterised by Matilda Woodroofe’s bureaucratic brutalist design.
    Pia Johnson/Malthouse Theatre

    In a long and shocking sequence, we witness drone footage from the Afghanistan war logs accompanied by the chillingly dispassionate commentary of the operators.

    Often, the screen becomes a surface for live video feeds which work to personalise or disembody characters, functioning variously as narrator, witness, and surveillance device. Transitions between closeups, documentation and stark data both drive and complicate the storytelling.

    Kelly Ryall’s composition and sound design – often paired with the pulsing or flashing giant texts on the screen – is a retro-electronic tapestry of victory chimes, synthetic bleeps and Pac Man pings. It is all underscored by deep digital tones and rapid analogue tapping of keyboards.

    A long artistic relationship

    This is an intelligent and thoughtful show that manages to be both complex and entertaining. The play is particularly salient given current global events, challenging us to consider the scale of what we’re up against, how long we should remain silent, and what power – if any – we have to effect change.

    In an era of heated debate about transparency and fake news, Truth emerges as a vital and edgy work in the capable hands of two highly respected theatre makers.

    The work is testament to the longevity of an artistic relationship between two older women that carries decades of embodied knowledge.

    Despite the persistent ageism in Australian theatre that often equates “urgency” exclusively with youth, this work reminds us older artists can and do challenge and disrupt – and bring a special and necessary currency to our cultural life.

    Truth is at Malthouse Theatre, Melbourne, until March 8.

    Kate Hunter 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. A new play about Julian Assange, Truth is an intelligent, thoughtful and unsettling work – https://theconversation.com/a-new-play-about-julian-assange-truth-is-an-intelligent-thoughtful-and-unsettling-work-247909

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Banking: Deputy Secretary-General for ASEAN Economic Community meets with Ambassador of Norway to ASEAN

    Source: ASEAN

    Deputy Secretary-General for ASEAN Economic Community, H.E. Satvinder Singh, met with Ambassador of Norway to ASEAN, H.E. Kjell Tormod Pettersen. They discussed ways to further substantiate the ASEAN-Norway Sectoral Dialogue Partnership, implementation of the ASEAN-EFTA Joint Declaration on Cooperation and exchanged views on the negotiations of the Practical Cooperation Areas 2026-2030. This year marks the 10th anniversary of ASEAN and Norway Sectoral Dialogue Partnership.

    The post Deputy Secretary-General for ASEAN Economic Community meets with Ambassador of Norway to ASEAN appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –